The Financial Times reported that it was hedge funds from China that sold copper futures that day, pushing copper prices to the lowest level since 2009. It is reported that on the same day, China Fund sold copper futures on the London Metal Exchange, and then sold copper futures on the Shanghai Futures Exchange, which suddenly completed the "avalanche" that attracted the attention of the global market and triggered a chain reaction of zinc and other products.
The data shows that on June 65438+1October14th, the futures price of Shanghai copper fell by more than 7% in a single day, which was directly transmitted to the London Metal Exchange (LME), and the copper futures price fell by more than 8%, the biggest drop since September 20 1 1 year. The intraday hit $5,353.25/ton, setting a new low since July 2009.
Among them, Shanghai Chaos Investment Company, which is controlled by Ge Weidong, a legendary figure in the investment field and a big shot in the domestic futures market, is the most striking. It was Ge Weidong who directed "Black Wednesday" in the futures copper market. It also made the market sigh: "In the past, Europe and the United States set prices, and China followed. The trend today is to turn to Asia. "
Decoding Ge Weidong, from folk masters to China's "Soros"
Ge Weidong's growth is praised as a legend by the market.
According to the data, 199 1 Ge Weidong, who graduated from the Economics Department of Sichuan University, came to Shanghai to start his investment career after working in a stable state-owned enterprise in his hometown for seven years. At that time, the domestic futures market was still in the barbaric growth period. Ge Weidong had an excellent record of doubling 2-3 times a year, and also had two tragic moments.
By 2004, Ge Weidong had rapidly matured in investment transactions, and began to reduce the trading volume to filter irregular transactions, which greatly improved the winning rate and made the stop loss more determined. In 2005, Ge Weidong founded Shanghai Chaos Investment Co., Ltd. ... From that year on, Ge Weidong began to become a folk grassroots and gradually turned into an investment tycoon.
In 2006, Ge Weidong founded Sunshine Private Equity, and when China's asset management business was still in its infancy, it entered the market in time, showing its extraordinary market sense. In 2008, the global financial crisis broke out, the market went down unilaterally, and Ge Weidong's bold attack made its assets swell from tens of millions to billions at once, which laid the most crucial step for it to turn into a market leader.
Subsequently, Ge Weidong frequently appeared in the capital market, and capital snowballed. In 20 12, the ticket issued by the commodity futures trading commission of the United States shocked the whole market, and Ge Weidong had already extended its hand to the international futures market. According to the determination of the US Commodity Futures Trading Commission on 20 12, Shunsheng Investment Company, Chaos Investment (British Virgin Islands) and Chaos Investment (Hong Kong) controlled by Ge Weidong held the US No.2 cotton futures contract in a single month from 20 1 to1on February 6. In the end, Ge Weidong returned the profit of $6,543,800+and paid a fine of $500,000.