Extraordinary Genius - Chapter 551 – The Fu Family
Fu Rongqi hanged up the phone. His men at the exchange had told him that they had received a lot of orders today. All the orders were betting gold prices rising. The total volume was more than 1.3 billion HKD!
At this moment, Feng Yu also called Fu Rongqi: “Uncle Qi, I have used all my available funds to invest. I had invested slightly more than 1 billion HKD, with 10 times leverage. The selling price was set above 285 USD!”
Feng Yu believed that after this time, Fu Rongqi’s trust in him will increase. Although it will not be at the stage where he blindly follows Feng Yu, if Feng Yu asked him to cooperate with him, Fu Rongqi would not reject him.
Feng Yu did not know that Fu Rongqi had already trusted him a lot. Fu Rongqi had sold most of his US stocks and was prepared to place a considerable investment into the Gold market.
Fu Rongqi even called his 3 other brothers and told them about this information.
Fu Rongqu was sitting in his office going through the proposal of a residential site when he received a call from his eldest brother. He immediately threw the proposal aside. No matter how well this proposal was, the profits were low, and the time taken to see the profits was too long. Investing in the financial market was faster, and the profits were higher!
Fu Rongqu immediately called his broker, who was also one of the brokers working for Fu Rongqi: “Old Hu, use all the money in my account to invest into gold. Use 10 times leverage and set the selling price at 285 USD, like what my brother said.”
Yesterday, Fu Rongqi had told Fu Rongqu that Feng Yu will be investing in the gold futures with him. Fu Rongqu immediately transferred all his available funds into his trading account in the morning.
Fu Rongqu remembered his youngest brother losing all his money previously. However, his youngest brother borrowed money from the banks and friends to invest and got back the money he lost. Fu Rongqu also invested then. But he did not invest a lot and did not gain high returns.
This time, Fu Rongqu does not want to miss this opportunity when he heard that Feng Yu was going to invest with his eldest brother. He was bolder this time, and this was the opportunity to increase his money by several folds. If it weren’t for his eldest brother’s objection, he would have gone to the black market to increase the leverage.
“Ok. Feng Yu had placed his order? I have prepared my money, and I will call my broker to place the order now.”
Fu Rongbing received his eldest brother’s call and immediately called his broker. He told him to use all the funds in his account to buy gold futures with 10 times leverage. The selling price was set at 286 USD!
Feng Yu was someone who had performed miracles. His selling price was set about 285 USD. So, 286 USD should be quite safe. This was a rare opportunity, and Fu Rongbing wanted to get the most out of it.
Hmmm… Fu Guangwei’s account still has some money. That sum of money was supposed to be invested into Tai Hua Supermarket Enterprise. But there was no need to use that sum of money yet. Might as well use the money to invest in gold now. When this sum of money is needed, this trade should also be settled.
After Fu Rongjing received the information from his eldest brother, he did something crazier than his two older brothers. Not only he asked both his sons to transfer all the available funds, he even took out every single cent from his company. He was intending on getting a bank loan later for his company’s operating cost. Anyway, his eldest brother had told him that the duration of this investment should not be more than 2 months.
The last time they followed Feng Yu to invest, Fu Rongjing was the boldest. It was because he was desperate to recover his losses. That time, he manages to recoup his losses and still make some profits with the money he borrowed from his eldest brother.
Fu Rongjing had thought about this. He had not offended Feng Yu recently, and his son, Guangzheng and his third brother were in a joint venture with Feng Yu. Feng Yu had no reason to trick them.
Fu Rongjing had asked his eldest brother and found that Feng Yu had invested more than 1 billion HKD and used 10 times leverage. If Feng Yu dares to invest like this, then he can also do the same. His eldest brother had also said that gold prices will continue to increase.
Fu Rongqi had said that Feng Yu felt the prices will rise above 285 USD, but he thought that the price will be at least 280 USD. He told his brothers to make their own judgment.
Fu Rongqi will not help them invest directly as they were considered separate. But when he has useful information about the market, he will still tell his brothers. All of his brothers’ trading accounts were handled by the brokers in his company, and he does not help them manage their investments personally.
Fu Rongjing thought for a while and told his sons to set their trade settlement price at 285 USD. He divided his money into several portions, and the lowest selling price was at 286 USD and the highest at 290 USD!
Fu Rongjing was the most daring among all 4 brothers. He had almost lost all his fortune before, and he still dares to invest most of his money this time!
The highest settlement price set by Feng Yu was only 288 USD. He was not aware that Fu Rongjing had set it at 290 USD!
It was not because Feng Yu was timid. It was because, at 288 USD, Feng Yu was 100% sure that he would make money. But it was not the same for 290 USD. He remembered that when entering 1994, the gold prices’ fluctuations will be quite volatile. He was also very sure that the gold prices will not reach 400 USD this year.
Feng Yu had used the charts and other information to analyze the market, and he was also not sure of the exact figures. But this 288 USD, was the highest price he was confident of!
One decision will have 100% chance of making profits, and the other decision could increase the earnings by 3%. But at the same time, there was a possibility to lose all the invested amount. Even an idiot knows which to pick.
Fu Guangzheng, who was in China, received a call from his father, telling him the Feng Yu will be investing in the financial market with his eldest uncle. They will be investing in Gold futures. His father asked him to invest some of his money too. Fu Guangzheng still has some cash on hand. His money was his investment funds for Tai Hua Supermarket Enterprise and other Hong Kong companies.
Since his father had said that Feng Yu and his eldest uncle will be investing in Gold futures, Fu Guangzheng immediately transferred all his money to his father to invest on behalf of him. He was willing to invest was because of Feng Yu, and not his eldest uncle or his father.
Have Feng Yu ever made losses with his investments? There is a rule in Fu Guangzheng’s mind now. Follow and invest in whatever Feng Yu invested and there will be profits!
Fu Rongqi knew that all his brothers had invested in gold futures, and he also asked his men to place his trades. When his men asked him if he needs to do hedging, he hesitated.
Under normal circumstances, Fu Rongqi would do hedging for high-risk investments to lower his risk. Even the leverage will not be high.
But this time, maybe he was influenced by his younger brothers or Feng Yu, he decided to increase his bets.
Fu Rongqi used a few accounts to make several trades. The total amount was more the 300 million USD and all the trades were using 10 times leverage without hedging. He placed all his bets on gold prices rising! Of course, he did not set the settlement price as he would be monitoring the market personally. If the prices reached 280 USD and do not seem to be increasing, he would sell at that price.
If it were really as what Feng Yu analyzed, gold prices would reach more than 285 USD, then Fu Rongqi’s returns would be more than 250 million USD!