Chapter 30

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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Terrorism hitting Saudi Arabia’s capital.

Riyadh was the most developing city among Middle Eastern countries and considered the safest place, so such terrorism delivered a huge shock.

“Fortunately the market didn’t shake greatly thanks to Iran quickly issuing a statement that it absolutely wasn’t their doing.”

Iran is currently in a standoff with America over nuclear issues.

Well, that’s actually Iran’s story.

More accurately, they’re just getting one-sidedly beaten.

America is already cooperating with each country to cut off all trade with Iran, applying pressure.

In the midst of this, having to participate in Yemen civil war too, for Iran it was a situation painful in various ways.

Right then terrorism attacking Saudi capital suddenly occurs?

Seeing that news, Iran’s spine must have chilled.

Even if not their doing, if the other side determines it’s Iran’s doing and declares war, the country becomes precarious then.

“Even during 9/11 terrorism, North Korea asserted faster than anyone it wasn’t them. It’s exactly the same.”

Thanks to that, the market seemed to surge greatly once then quickly returned to normal.

But thanks to this situation, there were things that rose more in price.

“Safe asset prices really rise endlessly.”

“Yes. Even government bond prices that usually don’t move keep rising.”

There are TOP 2 receiving highest evaluation among global government bonds.

Exactly US bonds and German bonds.

Classified as highest credit rating and safest assets among all government bonds.

So when it became a safety-first market, these two have highest trading volume among government bonds.

“But somehow francs.”

But franc prices are almost frozen.

Due to Swiss government’s financial law called upper limit, franc prices were stopped.

“Seemed like it’d rise a bit then goes down. Seemed like it’s dropping too much then rises again. The price is just completely stopped.”

“Well, it’s francs. Why else would francs be the best safe asset? When prices rise too much, the Swiss government releases volume to lower prices again. Conversely when they drop too much, they buy and raise.”

There was a reason Swiss francs maintain the best safe asset position.

“But why did the department head buy this?”

“Hmm. My insufficient speculation is, even before terrorism the market was too frozen. So rather than just holding capital, wasn’t he trying to convert everything to francs and observe the situation?”

Everyone nodded.

Because it was the most plausible reasoning.

“What do you think, Section Chief?”

Section Chief Seo is someone who’d jump into fire pits if Department Head says so.

His trust toward Department Head Jeong Jin-ho was unrivaled.

“I don’t know the department head’s intentions either. That person’s foresight can’t be fathomed by anyone at this company. But one thing is certain.”

Employees perked up their ears.

“Wh-what is that?”

“The department head has no brakes.”

No brakes?

“New people here must’ve experienced it too. Has anyone seen our department head do risk management when day trading?”

“..”

Thinking about it, no.

Following Section Chief Seo saying to discard ego and just do what the department head instructs, they hadn’t even thought about risk management.

Plus, they were mindless from fast day trading with no time to think anything.

“But isn’t not doing risk management dangerous?”

Even when investing with 5 billion, risk management is thorough.

Otherwise the risk management team immediately stops trading.

But day trading with a whopping 500 billion while not even caring about risk management.

Really brakeless, extremely dangerous investment.

“Right. To us it looks extremely dangerous. But to the department head’s eyes, that is risk management.”

“What? How is that risk management?”

“Because you just need to win.”

“.?”

“Don’t understand? If you fight winning battles, that’s exactly risk management.”

People who previously teamed with Department Head Jeong Jin-ho were nodding.

Conversely, newcomers tilted heads with unconvinced faces.

Did these people collectively get hypnotized?

How is that risk management.

Beep!

Then notification sounds rang here and there.

Signals notifying their selected items are rising.

“Huh? Wait. Wh-why is this?”

“Weren’t francs capped so they can’t rise more? Prices are rising crazily right now?”

“Something must’ve burst. Quickly check news first!”

Francs that absolutely shouldn’t rise in price due to upper limit created by Swiss government suddenly started jumping in price.

At the graph piercing the sky without knowing how to stop, employees’ mouths opened like jaws would drop.

“Sw-Switzerland just announced abolishing the upper limit!”

“What. So suddenly without warning?”

“It’s rising. Already 5%. 7%. No. 10%! The rising speed is crazy!”

Only then did department employees all turn to look at Section Chief Seo.

“I told you?”

He was grinning saying he knew it would be like this.

[Due to safe asset fever, Switzerland finally announced upper limit abolishment. By announcing upper limit abolishment suddenly without warning, it currently delivered huge shock to the foreign exchange market, and franc prices are surging. Also, euro prices.]

It kept burning anxiety until Friday.

Finally it burst.

The world’s safest francs backstabbed like this.

Upper limit was literally a policy to prevent 1 euro = 1.20 francs price from dropping or rising.

But there was something they overlooked.

Exactly demand exceeding their expectations.

China shock and Greece’s default.

Already from here, money flocked to euros and francs.

Switzerland was barely suppressing by releasing money to hold onto fluctuating currency value.

In the midst of that, Saudi terrorism burst.

That was the domino’s beginning.

Seeing Saudi capital attacked, people worried about war escalation and money flocked to safe assets, and as a result, too much demand made price defense difficult.

“So eventually Switzerland raised the white flag.”

“Wow. Even so, how can they announce so suddenly like this? Hedge funds and securities firms that only trusted the upper limit must be in chaos.”

“Only there in chaos? Swiss companies and places importing their products all burst together too.”

Usually abolishing such upper limits requires prior discussion.

So shock can be reduced.

But Switzerland was also so urgent, they burst it without warning.

“Isn’t this level shock next only to subprime in FX history?”

As Deputy Lee Hye-rin said, this scale shock is the first since subprime.

Current franc price has risen 20%.

How much more it would rise from here was the key.

Because of that, including me and our employees couldn’t leave work even though it’s Friday.

“But Department Head. How did you predict this exactly?”

“Department Head saw that Switzerland ultimately couldn’t hold out, right?”

“Wow. As expected, such foresight.!”

“This is why you need to develop the ability to see the forest.”

“..”

Even without me answering, employees were drumming and playing instruments for themselves.

“Department Head. When should we dump this?”

A whopping 20% rise.

In the foreign exchange market where 5% is the end even rising a lot in one day, 20% was crazy level.

Selling here, we’d raise tremendous profit of 100 billion.

If it was someone else, eyes would spin and they’d sell immediately.

“..”

Even bringing the mouse to the sell button, no signal.

Meaning it rises more from here.

“Don’t sell yet, keep holding.”

Saudi Arabia terrorism incident that made President Hwang Dae-woon’s heart sink.

When seeing that news, it was dizzying enough for life flashing before eyes to pass by.

But now, that memory doesn’t even enter his head.

“Right. H-how did it go?”

A moment tense enough to bite nails.

That wasn’t just Hwang Dae-woon, but also other executives gathered in his president’s office.

“Still holding.”

At the employee’s report, sighs poured out here and there.

“What. Still?!”

“Didn’t they say it exceeded 30%? But still holding this?”

From Friday, franc prices kept rising piercing the ceiling.

And Jeong Jin-ho who held with over 500 billion before those francs rose.

Naturally, executives knowing that fact couldn’t help but gather in the president’s office.

They wanted to visit Jeong Jin-ho’s department and enjoy that moment in real-time, but couldn’t dare disturb Jeong Jin-ho, so they gathered at the president’s office.

“But isn’t 30% the maximum for this?”

“Hmm. Right. Even with a beast’s heart, to be greedier from here.”

President Hwang was dumbfounded watching executives gathering one by one after hearing franc news, soon making the president’s office their hideout doing analysis and discussion among themselves.

Though ridiculous, the trap was it’s also fun.

“Hey. Didn’t you guys say that was the limit point when it rose to 25% earlier?”

“That was misjudgment. But this time it’s real. This limit point is definitely 30%.”

“Oh oh. Rising again! Breaking 33%!”

“No. How far do these crazy guys rise!”

Francs that stopped without climbing in the 30% range finally broke through support lines.

At percentages that keep only rising, President Hwang also unconsciously swallowed dry saliva.

“Jin-ho? Did Jin-ho sell?”

“Not yet.”

“Ugh.”

“Still not selling even like this? Where exactly does Department Head Jeong see the peak?”

At this point, now hands sweating and mouths drying up started being the executives.

No matter how strong-hearted, anyone would’ve pressed the sell button if it came to 30%. However, Jeong Jin-ho was holding out to the end.

Though Saturday, everyone huddled together just staring at charts without thinking of leaving work.

Francs that rose to 33% seemed to go down again, then rose once more.

“Ugh. Going crazy. This curve is too big.”

30% then 33% then sometimes even crashed to 20%.

Tremendous volatility enough to doubt if this is really the FX market.

“No need to go ride roller coasters, right?”

Like that, at one moment.

“Huh? Huhhh?”

Francs sneakily rising again hit a new high.

“40%!?”

They turned heads to the employee checking Jeong Jin-ho department’s trading volume in real-time.

“.He sold!”

Finally Jeong Jin-ho threw all held volume.

True to being the world’s largest scale market, 500 billion volume sold out instantly.

And the recorded return rate was a whopping 40%.

“Wow.”

“Really this isn’t even a game.”

“Games can’t do this either. Unless using cheats.”

Executives shook heads while releasing held breaths.

They also rolled in investment circles until bodies wore out, but such a beast was a first in life.

No. Not prices slightly going back and forth, but tap dancing up and down, and not throwing that but holding out?

Something that couldn’t possibly be done sober.

“I think working with Department Jeong would hurt my heart and I couldn’t do it long.”

“Right. When I saw it rise to 30% earlier then drop to 15%, I really thought I’d faint.”

“Yet still not selling that to the end. Whew. I absolutely can’t.”

Because he can make decisions others can’t, and has the mental strength and heart to hold out until that time comes, he’s now rolling the huge sum of 500 billion alone.

“But. Now the funds Department Head Jeong Jin-ho rolls exceed 700 billion?”

“Right. How long has the department existed to already become 700 billion?”

“At this rate, won’t it soon exceed our company’s net assets?”

Currently Gwangwoon Securities operates 1 trillion won in funds.

An amount excluding 700 billion Jeong Jin-ho handles.

But his investment money was about to exceed the company’s net assets.

“At this rate, really going to trillion units.”

That would need 300 billion more.

In a world where even earning 3 billion right away is hard, a whopping 300 billion.

But why?

With Jeong Jin-ho’s tag attached in front, even that 300 billion looked like a small amount.

“This SUV model has wide trunk space and is perfect for camping or travel. Also, it’s four-wheel drive. Plus if you drive directly, you’ll feel it’s really good. And this model here is a hybrid model, if you want cost savings.”

Hmm. Did I come alone for nothing?

Should’ve recruited someone who knows cars well and come together.

Father’s birthday is soon so I wanted to buy a car for him and am looking around alone. The problem is since I’m not savvy about cars, even hearing explanations, I’m not very sure what’s good.

While searching the internet and going around vehicle dealerships looking.

If I knew it’d be like this, should’ve called even my sister?

But that kid, whether there’s work at the company, she went to work instead of coming home this weekend.

-Department Head. Sorry bothering your weekend rest. Do you have time?

While going around here and there, the deputy contacted me.

-What is it?

-Oh. Replying right away.! It’s nothing, but I think I sent you the wrong data organization file. So I urgently revised and sent it again. You can recheck with that.

-Yes. I’m outside now, so I’ll check after going home later.

-Ah. You’re outside. Thought you were resting at home. Even yesterday Saturday you worked late.

The moment Saturday prices hit the ceiling at 40%.

Intuition crazily gave signals so I threw all volume.

Even then it was already night time, so including me, department people left work late.

-Yes. I thought to rest a bit, but actually-.

I roughly explained why I’m outside now.

-Choosing cars is hard. I also really looked into it for long when trying to get a car last time. Should I help a bit?

-What? Really?

-Hehe. Though insufficient knowledge, I did so much research because of occupational disease. Where are you? I’ll prepare and go out.

Suddenly led to unexpected development.

If I knew, should’ve dressed up more before coming out?

-Please understand even if it takes a liiittle time. I’ll prepare as quickly as possible and go out, Department Head!

Meeting suddenly, preparation time will probably take quite a while.

First time meeting the deputy alone like this, so feeling a bit tense, excited, and strange.

“While waiting then.”

The dealership I tried to enter before contacting the deputy.

Exactly that famous German company, Stumbagen.

One of my car selection criteria is exactly the body.

Even if an accident happens, how much can the body hold out?

Have I also become a securities person, considering safety first?

Well, I don’t particularly care about safety when investing though.

“Our Stumbagen is also best in stability. Especially these lines, the options also came out really well.”

As I entered the store, one dealer stuck right to me and explained.

“Can I try sitting?”

“Of course. Try sitting. The ride comfort will be very good.”

Certainly the ride comfort was good.

Not a foreign car for nothing.

“You like it, right? Our Stumbagen is actively making eco-friendly models, so this emissions test also passed with top grades, and above all fuel efficiency is very good.”

Should I decide on this?

Dad likes such thick-bodied SUVs.

First put this as a candidate and next time bring Dad and ask once.

“Ugh!”

While holding the steering wheel, I was startled by sparks popping and removed my hand.

“Are you okay, customer?”

“Ah, yes.”

What was that just now?

Was it just static electricity?

No. For static electricity, the feeling was somehow different.

Then perhaps.

“Could you explain the car again?”

“Ah, of course. Our Stumbagen was selected as Europe’s best eco-friendly vehicle this time, and especially these exhaust emissions compared to all previous models are a whopping 20%.”

Sting!

There again a signal came like sparks jumping up.

“C-customer?”

“I heard the explanation well. I’ll come again next time.”

I hurriedly left the store.

I don’t know why, but certainly the signal came as soon as I heard eco-friendly.

And very intensely.

Could there be a problem with the vehicle?

But Stumbagen cars have very good evaluations in various ways.

“.Is Stumbagen listed in our country?”