Many banks are not sure about the impact of the summit. There is almost no trading volume in the market. The difference between the bid and the sale is 200 points (normally around 10 points). Andy is correct, and the market price of 60 million US dollars has already been sold to 600 points. It is.
Lipschutz simply connected to a 24-hour telephone line, connected directly with Andy and the exchange, and made a lot of foreign exchange options. On that day, Solomon's foreign exchange department was a bumper harvest with a net profit of $5 million, equivalent to 25% of the foreign exchange earnings.
Of course, Lipschutz also had a time to almost overturn, but he can basically face it calmly, carry out profound introspection and do a good job of risk control management to avoid greater losses. Lipschutz always believes that trading masters must be smart and diligent. When doing other things, smart people may be opportunistic, stupid people can be diligent, but foreign exchange must be both talented and redoubled, and intuition is also very important, of course, this must be based on market analysis.
