Chapter 643: Worse Than Death
"How much funding is left in the department's account?"
Jamie's gaze was like a tranquil lake, calm and without irritation or anger, only an endless depth and serenity.
Wilson felt fear and hurriedly said, "The available funds in Tianxing's account are already scarce. Just hold on a bit longer, and maybe..."
Jamie said nothing, merely shifting his gaze from the big screen to Wilson.
Faced with those calm eyes, Wilson felt a lump in his throat, suddenly losing his smooth eloquence.
He forced himself to answer, "Currently, we've invested 82.5 billion dollars, with 12.9 billion dollars of available funds remaining."
Upon hearing this number, Jamie furrowed his brows, finally showing a slight human emotional reaction.
He looked at the funds account, contemplated for a moment, then turned to Doug: "I want to know the worst-case scenario."
Although the account showed a floating gain of 253 million dollars, Jamie was very aware that this was the result of continuous additional investment.
Once they stop inputting funds, the bull market will be unstoppable, and gold prices will soar.
Wilson wanted to explain but swallowed his words, knowing Jamie disliked interruptions.
Doug suppressed his excitement and calmed his mind: "Chairman sir, I was away for a moment and might need a few minutes to reassess the current situation."
"Go ahead." Jamie nodded slightly, and Doug called over Lar Buchanan, a fellow assistant. He glanced at Lar's eyelid wound, momentarily lost in thought.
Lar gave a slight smile and shook his head, indicating he was fine and quickly informed Doug of all the actions taken after he left.
Doug listened, seemingly pondering, with a rough idea forming in his mind.
As he was about to report back, Lar whispered softly in his ear: "We succeeded."
Doug's face stiffened, not daring to look directly at Lar, merely responding with a hmph as he quickly left.
Cameron Wilson is a degenerate; he really likes to force others to do things they dislike, relishing their struggle.
Homosexuality can sometimes be manufactured, such as with Lar Buchanan.
Doug has a four-year relationship with a girlfriend at home, but Lar doesn't; he's been completely turned.
Wilson was the planner, and Lar the executioner.
If JPMorgan Chase truly loses in this financial battle, Wilson wouldn't be unjustly implicated.
He not only faces Lu Liang, who made Wall Street suffer multiple times, but even his most trusted associates have ulterior motives.
Doug regained his composure and approached Jamie, saying solemnly: "Chairman sir, I can't predict the worst-case scenario, but there is a data point that might serve as a reference."
"Speak." Note: Check M_VLEMPY_R for any corrections.
"Using East Country's gold price as an example, when London gold prices rise to 1811 dollars, we will face about 19 billion dollars in losses."
An ounce is 31.1035 grams; the current East Country gold price is 402 yuan, equating to London gold being 12,500 yuan per ounce.
Dividing by the current exchange rate of 6.9, it calculates to if following East Country's gold price, London gold will rise to 1811.59 dollars per ounce.
It's considered as the worst-case scenario reference because East Country's gold price is often significantly higher than the international gold price.
However, it cannot be ruled out that East Country's gold price may continue to rise, thereby affecting the price of London's gold.
"20% loss."
Jamie bared his teeth in a sinister smile, his laughter chilling.
Last year, all the projects of JPMorgan Chase Group yielded a net profit of only 30.9 billion dollars.
Cameron Wilson, head of the investment department, in just one action, lost the total net profit of three quarters.
Jamie contained his smile and abruptly asked: "If the follow-up is left to you, how much can you reduce the losses?"
Doug clenched his fists, his mind racing, paused, then said: "Before the end of the third quarter, I am confident to reduce the loss to below 15 billion dollars, striving to bring it under 10 billion dollars before the fourth quarter ends."
Jamie is a banker; what he cares about most is quarterly and annual reports, as it relates to whether he can keep his chairman position.
Fortunately, it's early July now; this year's third quarter has just started, and there's still two and a half months before the third quarter financial report will be disclosed.
He has ample time to recover some losses from other projects.
"Resolve the current situation first and let me see your capability."
Jamie looked up at the screen; during their conversation, the market had lost its biggest bear, and the bull trend was difficult to suppress.
Doug, with a solemn expression, continued: "Chairman sir, I need trading authority that allows me to use all funds."
"Granted."
With fund authorization, Doug took a deep breath and moved to Wilson's previous office location.
He had no time to appreciate the view Wilson once saw, picked up the headset, and issued the latest instructions: "Draw 2 billion dollars, make large sparse short sales on London gold, push the gold price back below 1,700 dollars to show the market our determination to short."
London gold was about to soar, and countertrend shorting was a dead end, he knew very well.
Doug no longer hoped to explode Lu Liang's position; he only wished to reduce the losses as much as possible.
If 2 billion dollars are invested in short positions, it might exchange for 5 billion dollars, or even more, in bull funds.
He aims to lock short positions, then reverse to go long, hence needing to lure some bear retail investors to take over.
High sell is for low buy, unlike Wilson, everything he does is aimed at eventual profit.
"Doug, isn't it like when you were young?"
Jamie looked up, a hint of admiration on his face, then sighed: "I really believed in you, but you disappointed me greatly this time."
If killing Wilson could offset 20 billion dollars in losses, allowing him even one more breath of air, Jamie would be a bastard.
What's done is done, regardless of anger it's to no avail.
Moreover, he placed him in this position; a subordinate's mistake is entirely the leader's responsibility, something a group CEO should embody.
"Jamie, can I get another chance?"
Fear appeared in Wilson's eyes; he wasn't afraid of dying, as death was actually a form of relief.
If he couldn't fight for his last chance, given Jamie's nature, what followed would be worse than death.
"Can't give, at least not now."
Jamie shook his head, very decisively.
He said: "Go find Jeffrey, let him arrange a job for you on the island, and whenever you earn their forgiveness, you can return."
Wilson shivered; he knew, many in the department privately called him a degenerate, but he didn't care.
Because they hadn't seen a true degenerate; compared to those on the island, his character could be considered pure.
Wilson glanced towards the trading room door; he knew well that upon leaving, turning left 12 meters leads to a window.
Although not fully open, his thin frame barely allows him to squeeze through and leap from the 38-story building.
Jamie suddenly squinted, as if seeing through his thoughts, coldly saying, "If you dare die, your gentle wife, beautiful daughter, obedient son, elderly parents, will all be sent to the island."
Death is a form of relief.
At least it certainly is for the victim,
But debt doesn't dissipate because of it; instead, it transfers.
Wilson being alive meant he was the major accountability holder for this project's losses, providing investors with a scapegoat.
If he dies, the target can't be pinned, likely shifting to Jamie, since it was his oversight.
Once he's dissatisfied, he will seek a target to vent his frustration; Wilson's family is the best choice.
Upon hearing this, Wilson's lips curled bitterly, his freshly gathered courage evaporated in an instant.
He loved his family dearly, as they were the only ones who made him feel like a normal person.
Meanwhile, in Magic City Tianxing Private Equity Trading Room.
"JPMorgan is still powerful."
Lu Liang sighed, having been observing market trends.
The recent massive funding surge that further suppressed the gold price rise was immediately detected by them.
It was at this moment that Sun Yutao suddenly shouted, "Mr. Lu, something seems off."
Wall Street institutions had been watching from the sidelines for quite a while, with only two significant forces in the market.
One was them,
The other was JPMorgan Chase.
Previously, JPMorgan Chase's sales release orders had been absorbed by at least half of them.
However, this 1.3 billion dollar large transaction was peculiar; they only acquired 200 million dollars, then it was scooped up.
It seemed that another force abruptly emerged, competing with them for shares.
"Could it be retail investors?" Lu Liang questioned.
"Probably not."
Sun Yutao shook his head, and Liang Wenhu commented: "The smallest amount in a transaction is over 3 million dollars; retail investors don't have such capacity, surely not."