Chapter 62

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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Right now Gwangwoon Securities has a somewhat unique management structure.

Though Jeong Jin-ho was promoted to president by unanimous agreement, Vice President Kang Ji-hwan took on all the miscellaneous tasks for the reason that his investments mustn’t be disturbed.

Actually, the reason they elevated Jeong Jin-ho to president was because he’s the number one contributor who grew Gwangwoon to this degree, and since Gwangwoon’s scale grew large, Jeong Jin-ho couldn’t stay with the department head title forever.

So Kang Ji-hwan volunteered to elevate Jeong Jin-ho above and he himself kept the vice president position while taking charge of Gwangwoon Securities’ overall operations.

Because no matter how much Kang Ji-hwan operates here and makes money, it doesn’t even reach 10% of the amount Jeong Jin-ho earns.

So it became a structure where Vice President Kang Ji-hwan handles headache-inducing matters while supporting Jeong Jin-ho to focus on investments as much as possible.

“Vice President. Contact came again saying they want to purchase in bulk the CDS we’re holding.”

“From where?”

“Gold Reagan side. The CDS they sold us amounts to 1 trillion won. If Deutsche Bank goes bankrupt, they have to pay that 1 trillion won to us entirely, so they seem to be managing risk in advance.”

The atmosphere is unusual.

The CDS that Gwangwoon Securities purchased under President Jeong Jin-ho’s command was 3%.

But now the spread has soared to 15%.

Due to this, no one is issuing CDS related to Deutsche Bank.

“Don’t tell me Gold Reagan also thinks Deutsche Bank will really close its doors?”

“Since it’s TBTF, probably not. Right now in financial circles, there’s no one who thinks Deutsche Bank will really collapse. Just preparing for what might happen.”

No one believes that a company corresponding to TBTF, moreover Deutsche Bank being one of Europe’s TOP3 financial companies, will collapse.

Except one person.

Except President Jeong Jin-ho.

“But President said he won’t sell, right?”

“Yes. Gold Reagan, JP Mason, and all other companies with CDS tied to us tried to recover it, but he refused them all.”

President Jeong Jin-ho seems to intend going all the way.

If it becomes like this, financial companies with CDS tied to Gwangwoon won’t stay still.

“According to rumors, various financial companies joined forces and entered lobbying. To somehow pressure the German government and EU to save Deutsche Bank.”

In a way it was the predetermined course.

Right now the CDS scale Gwangwoon Securities holds is a whopping 3 trillion won.

It was President Jeong Jin-ho’s big game trying to eat 3 trillion won after only paying 90 billion won as 3% insurance premium.

“Rumors seem to be spreading to the media side too. That someone placed CDS worth 3 trillion won, and securities firms are joining forces to stop it.”

A big game trying to eat 3 trillion won after paying 90 billion won.

No matter how CDS is a secret transaction conducted through over-the-counter trading, maintaining secrecy for this scale is practically difficult.

“What’s the possibility of our Gwangwoon Securities name coming up there?”

“Seems like it’ll come out soon. Already the stakes are too big to hide, and Gwangwoon Securities’ scale also grew considerably.”

Gwangwoon Securities is an unlisted place.

So people don’t really know what the market cap is.

But currently, just Gwangwoon Securities’ own capital being operated surpasses other securities firms.

If President Jeong Jin-ho wins in this crazy zero-sum game.

With just own capital power, they’ll be able to stand tall as the Republic of Korea’s number one securities firm.

“But.. Even so, isn’t Deutsche Bank collapsing impossible?”

“Who knows. Even during the Lehman Brothers crisis, how many people thought that place would really collapse?”

“But isn’t the situation different between then and now? Rather than advising President to throw all the CDS at an expensive price even now..”

Kang Ji-hwan thought deeply.

What would I have done if I were President?

Since he doesn’t have a beast’s heart like President, when they said they’d buy the CDS at an expensive price, he would have sold all of it.

Because honestly even to Kang Ji-hwan’s eyes, imagining Deutsche Bank collapsing wasn’t easy. That’s why in his heart, he wanted to immediately run to Gwangwoon Tower and tell President wouldn’t it be better to sell even now.

He heard the CDS contract is 5 years, and if Deutsche Bank really survives intact, Gwangwoon would pay 90 billion won for 5 years incurring a total loss of 450 billion won.

“..No.”

But he soon dismissed the thought.

“Even Chairman, when he was at Gwangwoon Securities, absolutely never interfered with what current President is doing.”

He knows that even though they’re very close brothers, Chairman didn’t even make one worried phone call.

That much unconditional trust he showed in whatever President Jeong Jin-ho does.

And Kang Ji-hwan’s role was exactly that too.

Helping current President not worry about other useless matters while just watching how he produces miraculous profit rates.

“Plus I keep having this thought.”

Why does it feel like President Jeong will win this time too?

***

There’s something called the skyscraper curse.

What is a skyscraper?

Exactly a building high enough to reach the sky.

In the past, humanity built the Tower of Babel reaching the sky and enraged God.

Perhaps from that time a long-standing tradition came down.

Empire State Building, World Trade Center, Petronas Twin Towers, Burj Khalifa, etc. Whenever historically prestigious high-rise buildings were erected, economic crises inevitably came.

Also, companies participating in skyscraper construction were all placed in bankruptcy crises without exception.

In other words, the skyscraper curse is an economic jinx.

Our country’s 63 Building and LK Tower can also be said to be among them.

And this time Germany is the same.

Deutsche Bank invested quite a lot of money in a designedly beautiful skyscraper construction project, and this time too the skyscraper curse seemed to torment them.

“…”

I looked at the beautiful Seoul night view visible from the high-rise building.

Both my hands haven’t stopped sweating since earlier.

It has to be.

It’s a zero-sum game with a whopping 3 trillion won at stake.

If we lose, we have to faithfully pay 90 billion won for the next 5 years.

We can’t sell to someone else either.

If Deutsche revives here, who would try to buy that CDS?

[Deutsche Bank CDS a whopping 3 trillion won. This year’s greatest zero-sum game.]

[Is it a Republic of Korea securities firm holding 3 trillion won in CDS?]

[Deutsche Bank absolutely won’t collapse. All experts’ predictions.]

Already in the media too, they were making a fuss saying some force bought CDS in bulk. However, they all wrote articles at the level of mockery saying what foolish things they did.

“…”

Everyone is saying.

That Deutsche won’t collapse.

But uniquely only my intuition was shouting the opposite.

That’s why when proposals came to buy the CDS, I refused them all.

“Still, this time I’m pretty nervous.”

Having to pay 90 billion won annually is one thing, but above all the stakes of 3 trillion won keep flashing before my eyes.

If I eat this, dopamine might fill up to my head and I might faint.

Then this thought suddenly occurred.

Why is this ability activating for me?

What exactly is intuition looking at?

And are there times when my intuition is wrong?

Honestly no answer comes even if I think about this all day.

But if I make more money here later, I sometimes think how about investing money in a place that can scientifically research my intuition.

“Now contact should come soon.”

Chairman Kang Seong-ho already went over to Europe and is having meetings with presidents of each large financial group there.

He was playing the swordsman role as he told me.

And when definite results come out, he promised to contact me first.

But there’s still no contact.

That means, don’t tell me..

“Ah.”

As if reading my thoughts, the call I was waiting for came.

“Yes, Chairman.”

[…]

Chairman Kang Seong-ho kept silence.

There I felt an ominous feeling.

“Chairman?”

Soon Chairman Kang Seong-ho heavily opened his mouth.

[I’m sorry…]

***

All Gwangwoon Securities employees are gathered in front of the TV.

They should be busily preparing for trading, but right now all employees in Yeouido would be the same.

Everyone was watching the same screen, the same news.

“Ah. In the end like this..”

The news decorating the morning was none other than Deutsche Bank.

The Deutsche Bank crisis that had only many words finally got decided.

“Really Deutsche Bank bankruptcy?”

“Doesn’t make sense.”

The German government’s official announcement came out.

Just like the US government declared they won’t help Lehman Brothers in the past, the German government also made an official announcement that they won’t bail out Deutsche Bank.

Naturally everyone’s prediction that the German government would surely save Deutsche was wrong.

“There’s also the fact that the German government spent too much money doing bailouts until now. Above all, moral problems caught their ankle.”

“Plus competing companies that viewed Deutsche unfavorably seriously united, I heard. Must’ve been real. Seeing how they say they’ll completely dismantle Deutsche and have it acquired here and there.”

The reason people believed the German government was because if Deutsche collapses, the world financial system shakes together.

So they predicted they’d unconditionally save it first.

But the German government seemed to think if they handle even this there’ll be no answer going forward, so they gave up the bailout and instead reached out to European financial groups.

They tried to prevent a Lehman Brothers-level financial crisis by having them absorb Deutsche Bank.

“Ah. Stock prices will drop tremendously today.”

“Who knew Germany would abandon Deutsche.”

“Wait. If it becomes like this, only that force that placed a 3 trillion won bet with CDS makes tremendous money, right?”

“Wow. Don’t know who it is, but really crazy. How could they bet money on Deutsche’s destruction?”

“But there was talk that that force is our Gwangwoon Securities?”

At some employee’s words, everyone tilted their heads.

“What nonsense.”

“Come on. Even though we’re doing well these days.”

“Right. Stop the nonsense, and first think about quickly selling all the stocks we’re holding today.”

Yeouido securities people started moving busily to prepare for the tsunami that will soon hit the financial market.

***

As the president’s office and Prime Department moved to Gwangwoon Tower, key employees also followed to assist.

A new research team with more employees and veterans than the research team currently at Gwangwoon Securities also nested here.

“Wow…”

“In the end President won this time too..”

And they too were watching this historic moment.

“W-wait. Then did we really make 3 trillion won? After only paying 90 billion? Then what’s the profit rate? 3,000%!?”

Actually even Prime Department employees’ anxiety was indescribable since President suddenly said he’s buying CDS.

Even in the news they openly mocked saying some force foolishly bought CDS in bulk, so how could their mentals not shake?

“Every time I see President, I’m truly in awe. Domestic to overseas media put out tremendous amounts of mocking news, but he didn’t budge at all.”

“Well, he’s someone who long surpassed human mentals.”

If they’re human, they’d shake at least once, but he’s not showing such signs at all.

No matter how many times I see it, that mental harder than steel is just amazing.

“Now Gwangwoon’s name is starting to appear in the media.”

“That’s just speculation. Unless we officially declare it’s correct.”

“But.. Our President. At this level isn’t he a mastermind?”

“Huh? M-mastermind?”

“Looking at history, right? Since diesel gate he’s been steadily shaking the German market, and finally toppled that giant financial group called Deutsche.”

Probably people in the world would absolutely not believe all this is one person’s work.

If someone said this, even people crazy about conspiracy theories would have ignored it.

“Good morning everyone.”

“Eek.”

Seeing Jeong Jin-ho entering the office, everyone flinched.

The protagonist of the mastermind shaking the world financial market appeared today too with a bright smile.

***

When Chairman Kang Seong-ho first called me and said he’s sorry, my heart felt like it sank.

Because I thought my intuition was finally wrong.

But actually it was the opposite.

Chairman Kang was deliberately saying such things to tease me.

Chairman Kang mercilessly wielded the sword as promised, and cooperated with European financial groups to even finish negotiations with the German government.

So a few days before the official announcement, Deutsche Bank’s bankruptcy was already decided. Thanks to that I could be at ease for several days.

Several more proposals came from various financial firms saying they’d buy the CDS at higher prices, but I refused them all.

Even some place threatened saying I could lose all the money like that.

But it didn’t work on me at all.

Because I already knew in advance how it was decided.

“Though large financial groups like HBC and ANP came forward saying they’ll absorb Deutsche Bank and somehow stop the aftermath of bankruptcy, honestly they’ll just soften the shock, they can’t stop that aftermath.”

It’s an incident where one of Europe’s TOP3 financial companies fell.

Before that, the German government prepared in cooperation with various financial firms, but when an earthquake occurs, a tsunami inevitably hits.

It’s just a difference in intensity.

“So right now not only Korea but all overseas investment stopped. People who spread investment money are also all recovering and liquidating to cash.”

“Our CDS?”

“Fortunately all the companies that made CDS contracts with us are major corporations, so there probably won’t be problems with payment. Gold Reagan side already said money will come in within two days.”

With Deutsche’s bankruptcy decided, the zero-sum game’s winner was also decided.

It was our Gwangwoon.

“As I mentioned earlier, investment is being canceled or recovered one after another in all regions due to Deutsche’s bankruptcy, so I pulled all those lists.”

We invested 90 billion won and made a whopping 3 trillion won.

Then it would be worth throwing away all work and holding a bonus party, but people here know me too well.

That I absolutely can’t stand seeing money just pile up in accounts without using it.

So they pulled materials in advance before I even spoke.

“…”

I checked the list thoroughly.

Companies with suddenly canceled large investments weren’t just one or two.

So there were quite many places putting out even large amounts of shares trying to somehow receive investment.

‘There’s more blue than expected.’

Intuition flowing through my fingertips was coloring companies on the list blue.

Since all securities firms and banks stopped investing to liquidate, it was actually a bargain sale for us.

A situation where we can make money no matter where we put money.

But what I’m looking for wasn’t like this.

‘If I look more it seems it’ll be there..’

I kept turning pages of the list.

I don’t know how many company lists are waiting for investment, the end doesn’t come even turning pages.

Just then.

“…?”

My hand stopped at one part.

In a place full of only blue, there was one company alone emitting golden radiance.

“Enflix?”

Employees who were waiting for my words to come out hurriedly searched for Enflix materials.

“Originally they did DVD business, then started OTT business from 2007.”

“OTT?”

“OTT is still a somewhat unfamiliar name. You can think of it as a place that does streaming like NewTube.”

Enflix, which only did DVD delivery then started streaming business following the changing times’ flow, recently announced their ambition to start global business in not only the US but 150 countries.

Naturally both investors and experts’ evaluations were harsh.

“People watch movies at movie theaters, or buy DVDs, or if not that, download through illegal sites, right?”

So there were many negative opinions questioning whether people would really pay monthly and go to Enflix to watch videos by streaming.

To make matters worse, many places were recovering investment money sensing something unusual even before the Deutsche Bank crisis burst, so Enflix that was supposed to receive large investment had its global expansion completely halted.

“If something like this comes out, would you subscribe and watch?”

“Well. I’d probably just buy DVDs and watch.”

“Or download from portal sites and watch.”

Before, our country’s internet speed was overwhelmingly fast compared to other countries, but that’s also an old story.

Now an era came where everyone quickly downloads and watches movies.

But watching movies or dramas by streaming..

And paying monthly for that..?

“Enflix also knows that problem, so they said they’re producing their own original dramas to make people have no choice but to subscribe and watch.”

Original dramas?

In Enflix materials here too, there was a list of original dramas they finished producing or are producing.

“…!”

And among them, there was one shining most brilliantly.

It was a drama that already finished subtitle and poster production in our country too.

‘Strange Tales?’