Chapter 23

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“Why does everyone look like that? Haven’t recovered from the hangover?”

“You know. We didn’t even drink a bottle yesterday.”

“Ugh. I wish it was a hangover. My hands were trembling for no reason so I couldn’t even sleep.”

Section Chief Seo could fully understand the staff’s situation.

Yesterday’s dinner.

Didn’t Team Leader Jeong Jin-ho suddenly drop a bomb statement?

That he’ll day trade with a whopping 250 billion!

“Ugh. We shouldn’t have brought up Greece then.”

“Even if we hadn’t talked about it, he probably would’ve done it.”

“No. But our Team Leader. Is he serious? He’ll really day trade with 250 billion? Honestly, we just need to do nothing and play this month, right?”

Usually when target profits are met, nobody comes to work unless the market is in tremendous bull mode.

There’s such a saying.

That prop traders are all gamblers.

But there’s one thing people misunderstand, they stop when they meet return rates.

Before meeting return rates, they swing around fearlessly like Lu Bu, but the moment they reach return rates, they grab the string of reason like ghosts.

They weren’t crazy enough to blow away money they worked hard to earn.

That’s why even trembling wanting to day trade on weekends, once return rates are met, they become normal people and enjoy vacation.

“Then what is our Team Leader?”

“.Dopamine addict?”

“Heart of a beast?”

“This isn’t a beast, doesn’t he have no emotion called fear? It’s not 25 billion but 250 billion! 250 billion!”

250 billion.

Very large money that ordinary people can’t dare touch or directly see the scale of.

Even in KOSPI where trillions of won come and go daily, 250 billion is money that can never be ignored.

Plus, if this money is mishandled, first you get caught in KRX surveillance, then reported to the Financial Supervisory Service and investigated.

If you misstep on dangerous tightrope walking, you might enter prison for market disruption charges.

Yet the Team Leader declared he’ll move 250 billion.

“How can our hands not tremble!”

Not just hands and feet, hearts are pounding so it’s driving us crazy.

“But hasn’t the Team Leader arrived yet?”

“Yes. He’s someone who usually comes early, so soon.”

“Good morning everyone.”

Then the team leader was seen entering with a smile.

Unlike team members who couldn’t sleep and trembled worrying they’d blow all the money, he had a very bright face. Even seeing no dark circles, seems he slept soundly after the dinner.

‘He really must be a monster.’

‘Maybe he’s actually an alien?’

‘Not human.’

Mental strength ordinary folks dare not fathom.

“KOSPI daily trading volume is about 5.5 trillion won. But the funds we’re trying to manage here are a whopping 250 billion. About 5%. It’s a tremendously large amount.”

“Even major company stocks like Gangsung Electronics have daily trading volume of 260,000 shares. So about 400 billion worth. But if 250 billion enters there? It exceeds a whopping 60%.”

“Usually at KRX, if you put in amounts that are 5 to 10% of trading volume per stock, you become a surveillance target. Then it passes to the Financial Supervisory Service. And if it gets serious there.”

It meant violating financial law.

Because we could be seen as intentionally manipulating stock prices.

“Actually our country is sensitive about this. Especially after the previous DH Securities stock manipulation incident, regulations became stricter.”

People point out one reason our country’s stock market can’t rise like the US market is because of tighter financial regulation laws compared to other countries.

No wonder banks can’t make money except through interest margins even with all that money.

But this was unavoidable.

Because there are too many forces playing with our country’s stock market.

In other words, regulations were put in place because scammers causing chaos are rampant.

“That’s why even at our Gwangwoon Securities, most money is placed in bonds, foreign exchange, overseas stocks. Korean stocks are dangerous to carelessly manage trillion-unit money.”

I expected it but.

As expected, the domestic stock market is no easy matter.

As managed funds grew to hundred billion units, regulations on it also increased.

“Then what if we appropriately divide and spread purchases?”

“It’s possible. The problem is if 250 billion extends from the same account to conclude buys and sells in a short time, that also becomes a surveillance target. Managing about 250 billion at once gets suspected as market forces.”

Usually the amount prop trading teams manage at once varies by team, but averages 30 to 50 billion.

But pouring 250 billion, several times that, into the market at once gets suspected as forces for stock price manipulation.

So if prop trading teams cooperate to intentionally raise or lower prices, they could receive Financial Supervisory Service investigation.

That’s why even managing funds in team units, senior traders roll money by their own individual judgment.

Because they need to disperse even like that.

I also learned this fact while studying investment.

“Did materials come from research? What I requested late last night.”

“Ah, yes. Research says there’s high probability Greece won’t default. Overseas also sees about 97% won’t go to default.”

97%.

Quite a high number.

“What do others think?”

“We also. Of course think there won’t be a default.”

The government defaulting itself seems honestly nonsense, so they seemed to think that.

“But Team Leader, you see default will definitely happen, right?”

Yesterday when reading articles, the feeling came strongly.

But checking again can’t hurt.

“I.”

I checked materials sent by the research department.

What stocks would be affected assuming a default happens.

Our country actually won’t take huge shock like during China shock just because Greece declares default.

If there’s a problem, it’s the financial side.

As European finance becomes unstable, our company and various financial companies take hits to stock prices. Also, consumer goods are affected by global economic instability.

Plus, the most concerning is exactly trading volume evaporation.

If default comes on top of China shock, everyone liquidates to buy safe assets like gold, or a situation occurs where cash doesn’t move at all.

In other words, neither buyers nor sellers.

It becomes a wasteland.

Then conversely, the rising side?

Performance is achieved on the export side due to euro weakness.

Representatively semiconductors, electronics, vehicles.

“..”

I checked stocks and brought my thumb over swiftly.

“!?”

“Team Leader?”

Feeling came tinglingly like static electricity occurred.

What this means was one thing.

The default that 97% said would absolutely never happen.

Seems Greece will persist in committing that disgraceful act.

“I think that 3% opinion is correct.”

“3% means surely.”

“You really see default bursting?!”

I slowly nodded.

Then team members burst out short groans.

“But there are no recommendations like options here?”

“Ah. That’s. From China shock last time, put option prices all rose. So most securities firms and funds recovered all options even taking maximum losses. Though the Chinese government entered stock market stabilization work, that effect is gradually declining too.”

It meant after getting badly burned once, everyone recovered put options and aren’t issuing new lottery tickets.

They got ripped 20 times by us. Even I would be too disgusted to do it.

“Even European ETF side is completely dried up now. As the market overall fell from China shock, they took down all products.”

There’s so much money, but actually not many places to roll it.

Then there was no choice but to go to bigger waters.

“Can’t the FX side easily handle about 250 billion?”

FX.

Foreign exchange market.

Daily trading volume alone is a whopping 5 trillion dollars.

So the world’s largest financial market reaching about 7,000 trillion won.

That’s why 250 billion there was just a laughable unit.

“That’s true but. FX isn’t a place we can trade, there’s a separate FX department. We need separate permission from above.”

“If permission is given, we could do it?”

“It should be possible. When needed, they sometimes approve foreign exchange or overseas stock trading.”

Seems I need to meet the department head directly and talk about this.

“Then are you giving up on the domestic stock market?”

“Until permission drops, don’t we need to be doing the domestic stock market?”

“Then Team Leader. First lowering the amount a bit for investment.”

“If we’re monitored, will we unconditionally be investigated?”

“Not that. Like previous stock price manipulation, slamming trading volume right before closing. Or unless we pile 10% of trading volume into one stock. But even dividing 250 billion for purchases, it’s ultimately the same account so they’ll watch.”

I nodded and gathered stocks recommended by research and brought a pen to each one.

‘This one, the feeling is somehow.’

Then pass this.

‘This one definitely comes.’

Then check this.

As research said, if Greece defaults, take shorts on stocks that will fall, and take longs on stocks that will rise.

“Um. How should we divide the amounts?”

This was the most difficult problem.

Amount division.

Exactly how much should we do to have less market disruption and not get hit by the Financial Supervisory Service brothers?

Actually, even team members here couldn’t guarantee that.

“Just a moment.”

Will this work too?

I wrote amounts next to stocks half-doubtfully.

“..”

No feeling.

Then add just a bit?

“..”

Nothing this time either.

Then double?

“.!”

Current flowed tinglingly.

Is this the appropriate price?

“This much for HT Motors.”

“Th-this much? At this level, definitely KRX will.”

“Hmm. Deputy An. Don’t dare object to the Team Leader’s words. Then can Deputy An determine division amounts? Barely not caught by their surveillance?”

“.Sorry.”

“Team Leader. Please continue with the next one.”

I wrote down numbers after that too.

This much here, that much there.

Finding appropriate prices took some time, but team members waited for me.

Probably in team members’ eyes, I seemed like a fraud randomly picking anything.

“When the market opens, please buy immediately like this. Meanwhile I’ll go see the department head. And when to sell. I’ll decide after buying is finished.”

“Yes.”

I left materials with team members and headed to the department head’s office.

Come to think of it, this is my first time seeing the department head alone?

“..”

After Team Leader Jeong Jin-ho left, team members swarmed the paper he left behind.

What on earth is the meaning of these numbers?

Various amounts are written, with one dot marked underneath each.

“Doesn’t this look like some formula?”

“Right. Can’t figure out the pattern.”

“Is this that algorithm only visible to the Team Leader’s eyes?”

In other words, this is the calculation formula containing Team Leader Jeong Jin-ho’s investment secret method.

The problem is no matter how they look, they can’t figure out what pattern it has, what meaning it carries to list numbers like this.

“Ha. Something tremendous formula is definitely written, it seems.”

“No matter how I look, doesn’t it just seem like amounts written up and down?”

“Then what, are you saying our Team Leader roughly went up and down and randomly picked amounts?”

“That’s. Not it, right. It definitely seems like a formula containing some secret.”

Team members soon exchanged looks.

“Should we each copy this and keep it? Maybe we’re the first to see the Team Leader’s investment secret method in numbers.”

“Right. Good idea.”

“Have to keep it as a family treasure for life.”

“I’ll try decoding it whenever I have time.”

So everyone cherished the paper like discovering precious treasure, then suddenly returned to reality.

“But no matter how I look, the amounts seem a bit dangerous.”

Default aside, the designated amounts looked somehow ambiguous.

Plus, Team Leader Jeong Jin-ho said he’ll day trade dividing like this.

If the line is wrongly walked, the Financial Supervisory Service would definitely raise issues.

Even if not that, if done wrong, there was high risk of emptily losing money earned so far.

“What can we do? We’re already in the same boat. If we die, we die together, if we live, we live together.”

The section chief united team members’ wavering mental strength.

Thanks to that, team members also grabbed their shaking hearts.

“We only trust the Team Leader. I say again, discard ego.”

“Yes!”

“Then everyone dismiss! Go prepare!”

Indeed when hearts surge like waves, overcome with the power of faith.

Prop Trade Department, Department Head Lee Tae-ho was mentally busy in various ways as the department became a mess from China shock.

“Who came?”

“Prop Trading Team 7, Team Leader Jeong Jin-ho.”

“.?”

Currently one person receiving most attention at Gwangwoon Securities.

A monster who made a fortune investing 50 billion in this tremendous bearish market.

Plus, he was a parachute receiving infinite trust from the president.

“Q-quickly tell him to come in. No. Tell him to come in.”

“Yes.”

The department head unknowingly stood up from his seat.

Strange.

Though the other party’s rank is lower than his, he becomes somehow polite.

That’s probably partly because of backing, but also largely because of the amount Jeong Jin-ho earned.

Aren’t securities firms’ ranks judged by return rates?

“Department Head. Hello. Sorry for the early time.”

“Ahem. N-no. For Team Leader Jeong, I can make time anytime. Sit here. Should I get you something to drink?”

“No. The market opens soon, so I also need to go quickly. I’ll just quickly say the content.”

The department head thought that would be good.

Being in front of Jeong Jin-ho somehow makes him strangely nervous.

“What content?”

“Our Team 7 plans to manage all 250 billion this time.”

“What!? A-all!?”

“Yes. The problem is it doesn’t seem like an amount we can handle only with the domestic stock market, so we’re turning direction toward FX. To do so, permission is needed.”

To move 250 billion at once, definitely targeting overseas would be good.

“But why FX? No. In the first place, with 250 billion, isn’t this month fine even playing around?”

“That. It’s a bit much to be playing around. This time I’m trying to invest in the euro side.”

“Euro? Wait. Because of Greece?”

“Yes. If you open an account, I’m thinking of putting money in the euro side.”

“Long? Or short?”

“Probably short.”

Taking shorts on euro?

Then the euro price falls.

Isn’t euro rather rising because of China shock?

But taking shorts on euro here means.

“Don’t tell me you.”

Then Department Head Lee Tae-ho had one thought flash through his mind.

“You think Greece will surrender?”

Meaning I can’t repay money, so surrendering.

It means bursting default.

“Yes.”

Department Head Lee observed Jeong Jin-ho’s eyes briefly.

Eyes full of conviction.

But Greece defaulting? Really?

What nonsense!

There he almost grabbed the back of his neck.

“Doing FX means. By any chance day trading with that 250 billion?”

“Yes.”

Almost grabbed the back of his neck for the second time.

‘This crazy bastard!’

Normally he would’ve snapped not to talk bullshit.

But this department head didn’t hastily make judgments.

The opponent is a monster who predicted Chinese bubble first and made hundreds of billions.

Maybe there really is something grounding that judgment.

“.Opening an FX trading account takes some time. But I’ll connect it as quickly as possible.”

“Yes. I’ll be waiting. Thank you, Department Head.”

Department Head Lee just blankly stared at Jeong Jin-ho bowing and leaving.

How should he report this to higher-ups?

“Some crazy bastard is trying to day trade with hundreds of billions?”