Golden Spoon Investment Portfolio - Chapter 100

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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100. Mexico’s nightmare is only just beginning.

Early morning on the 22nd, just days before the Christmas holiday.
Seok-won lay alone in the spacious king-sized bed at the center of his dimly lit bedroom, lost in deep slumber.
When the bedside clock displayed 5:30 AM, the phone’s display illuminated and the ringtone pierced through the silence.

“Mmm.”

After stirring briefly, Seok-won extended one arm across the nightstand, fumbling until his fingers found the phone and drew it close.
With eyes half-closed, he brought the device to his ear and answered in a voice thick with sleep.

“Hello.”
[I apologize for calling at such an hour, Boss.]

Hearing the slightly excited tone in Landon Shore’s voice, Seok-won propped himself up on his elbows and fought to shake off the drowsiness.

“It’s fine.”

Seok-won turned to check the time on the bedside clock, then rubbed his face with his palm.

“What’s happened at this hour?”
[President Sedillo just appeared on broadcast and officially announced that the Mexican government can no longer service its debt.]

Sleep vanished instantly. Seok-won gripped the phone tightly and asked for confirmation.

“Mexico has declared a moratorium?”
[Yes, sir.]

A moratorium referred to the temporary suspension of principal and interest payments by a government or local authority facing repayment difficulties.

[According to Reuters, Mexico’s foreign exchange reserves have fallen below 6 billion dollars.]
“Is this confirmed information?”
[Yes. Our calculations yielded similar results.]

If true, the foreign exchange reserves that had approached 30 billion dollars had been slashed to one-fifth in merely a year.

[As rumors spread about Mexico’s dwindling reserves, investors rushed to withdraw their funds. Had the government not declared a moratorium, they wouldn’t have survived even a single day.]

Mexico’s external debt far exceeded its foreign exchange reserves, so it was more than sufficient.

“President Sedillo managed to narrowly avert national bankruptcy through swift action, but Mexico’s nightmare is only just beginning.”
[That will be the case. The moment the moratorium was declared, the exchange rate market reacted immediately.]

The government had essentially admitted it had no money and collapsed, so there was no way the exchange rate could remain stable.

“How far has it fallen?”
[The psychological support level of 4 pesos has broken, and it’s been plummeting ever since, now sitting at 5 pesos.]

The Mexican peso was literally becoming worthless in real time.

[The announcement came after the stock market closed, so stock prices weren’t shocked, but once the market opens tomorrow, they’ll plummet immediately.]
“Since no one knows how bad things will get, everyone will try to dump everything and run.”
[I would do the same.]

While the government bond market and Mexican economy descended into chaos, Seok-won, who had anticipated this and placed short bets, had hit the jackpot perfectly.
The worse the situation became, the more his returns grew exponentially.

“Keep monitoring the situation and let me know immediately if any new information comes in.”
[Understood.]

Before regression, I would have been able to check Mexico’s situation in real time, but the inability to do so now left me feeling both regretful and frustrated.

[I’ll organize the information and situation we have so far and send it to you by fax.]
“Please do.”

After ending the call, Seok-won threw off the sheets and got out of bed.
He checked that the fax machine installed in one corner of the room was properly powered on, then headed to the bathroom to shower and wake himself up.
A short while later, as he emerged toweling the water from his hair, the fax machine began whirring, diligently spitting out the materials Landon Shore had sent from New York.

“Let me take a look.”

Seok-won approached the fax machine shirtless, wearing only hastily pulled-on pants, his muscular torso exposed.
He picked up the freshly printed documents and carefully examined each page.

* * *

New York Wall Street.
Though the bomb that detonated in Mexico sent shockwaves through global sovereign debt and foreign exchange markets, the overall atmosphere remained remarkably composed.
The Mexican currency crisis that had erupted since early in the year had made this sequence of events largely anticipated.
Of course, the government’s decision to push through to a moratorium without abandoning the pegged exchange rate system was unexpected, but once the peso devalued, while recovery wouldn’t be easy, most believed the situation would stabilize.
Yet those hopes shattered almost immediately.

“The Mexican government just announced a peso devaluation!”
“How much did they devalue it?”

Every trader on the Trading Floor turned their attention to the Bloomberg terminals installed at each booth.
The Trading Floor, which had fallen into an eerie silence, erupted once more into a cacophony of groans and curses.

“Are you serious? With the situation this dire, they only devalue by 30%?”
“Everyone knows their coffers are empty, yet they won’t even abandon the peg and just adjust it? They’re insane.”
“Did the Mexican government discover some hidden funding source I don’t know about?”
“If they had, they never would have declared a moratorium in the first place.”
“Then what is this?”
“Damn it! I had hopes because the new president came from an economics background.”

The traders’ disappointment was palpable as the peso devaluation fell far short of expectations.

“Will this even ease the panic?”
“Not a chance.”
“It’s like trying to extinguish a forest fire with a bucket of water.”

Everyone believed that with Mexico’s economy facing so many colossal problems, such a modest measure would prove insufficient.
Instead, interpreting it as a clear signal to abandon ship, the traders shed their remaining hopes and began dumping pesos en masse.

“Selling 70 million pesos at market price!”
“Peso fire sale! 10 million!”
“Dump it all before it falls further!”

The traders gripped their phone receivers, shouting frantically or rushing to the trading desks, frantically signaling with their hands in desperate attempts to offload every peso they held.
Contrary to the Mexican government’s expectations, despite announcing the devaluation, the peso plummeted even more steeply than before.

* * *

A few days later.
With the year’s final trading day drawing near, the Trading Floor at Daehung Securities hummed with relentless tension, every moment charged with urgency.
The traders remained glued to their screens or clutching their phones, executing trades right up until the closing bell in their desperate pursuit of year-end profits.
Investment Team 4, now under Choi Ho-geun’s leadership following Seok-won’s promotion to headquarters director, was no exception.
Choi Ho-geun and his team had already endured plenty of envious whispers suggesting they’d only succeeded by riding Seok-won’s coattails.
Precisely because of this, they threw themselves into their work with even greater intensity, desperate to avoid hearing that their performance had declined without Seok-won.
Choi Ho-geun rose from his seat and rolled up his white shirt sleeves slightly to check his watch.
He then turned his gaze toward Jung Hwan-yeop and Yu Seok-hyun, who were still actively trading at their CRT monitors with their bulging screens, and spoke.

“Five minutes until closing. Start wrapping up your positions.”

Jung Hwan-yeop’s expression grew serious and devoid of levity as he habitually moistened his dry lips with his tongue before placing his final sell order.
Moments later, as his trade executed simultaneously with the market’s closure, Jung Hwan-yeop released a long, pent-up breath he’d been holding.

“Phew!”
“All finished?”

Choi Ho-geun approached from behind and rested his hand on the back of the chair as he asked.

“Yes. I wrapped up everything, including Orim Paper at the very end.”
“Good work.”

Choi Ho-geun gave Jung Hwan-yeop’s shoulder a light pat before turning his attention to Yu Seok-hyun.

“Everyone did well today. Print out today’s trading records and hand them over to Miss Hong.”
“Yes, sir.”

Jung Hwan-yeop spun his chair around and gazed up at the massive ticker board mounted on one wall of the Trading Floor.
Seeing the numbers that had been changing frantically now frozen in place as if by promise, he felt an odd, bittersweet sensation wash over him.

“And that’s the end of all our trading for the entire year of 1994.”

Jung Hwan-yeop murmured with a wistful, melancholic expression.

“Why the sudden sentimentality?”
“Team Lead! The market’s closed now—let’s grab a drink!”

Jung Hwan-yeop made a gesture mimicking the clinking of glasses as he spoke to Choi Ho-geun.
Yu Seok-hyun, who had been hovering nearby, eagerly chimed in with enthusiasm.

“We haven’t even had our year-end gathering yet, so gathering like this serves a dual purpose, doesn’t it?”
“That’s right. Team Lead.”

Once Hong Jae-hee voiced her agreement, Team Lead Choi Ho-geun let out a hearty laugh as if he had no choice.

“Fine then. Today, I’ll treat everyone.”
“Oh! Now that’s what I call a real man!”
“I knew I could count on you, Team Lead.”

While the men were riding high on excitement, Hong Jae-hee swiftly picked up her phone.

“Where should we book? Since it’s year-end, we won’t find a table if we don’t reserve ahead.”
“Let’s go to Kkeobdaegi House behind the office.”
“Not there again?”

Associate Jung Hwan-yeop’s face fell visibly in disappointment.

“We were just there last week.”

Even Hong Jae-hee, who had been secretly craving meat, gave him a knowing look, but Team Lead Choi Ho-geun remained unmoved.

“What’s wrong with it? It’s cheap, the food is good, and there’s no place quite like it! Besides, we’re regulars there, so they sometimes throw in extras for us.”
“You mean we only go there because it’s cheap, not for the taste.”

At that, Team Lead Choi Ho-geun shot a glare at Associate Jung Hwan-yeop and spoke.

“You punk! Then why don’t you pay?”
“Wow. Team Lead, isn’t that a bit petty of you!”
“We want beef!”

Associate Jung Hwan-yeop and the team members erupted in playful jeers in unison.
The reason the atmosphere could be this pleasant was because Investment Team 4 had achieved the highest performance within the Trading Department at Daehung Securities.
Not only Team 4, but other teams had also posted solid results riding the wave of the bull market, so everyone’s expressions were bright.
Just then, Seok-won, dressed in a custom suit with impeccable tailoring, entered and surveyed the Trading Floor as he spoke.

“You’ve all worked hard until the very end.”

Upon seeing Seok-won, the employees hastily rose from their chairs.

“It’s fine—stay seated and listen.”

But no employee possessed the audacity to remain calmly seated before their direct superior.
Moreover, knowing full well that Seok-won was an owner, they all sprang to their feet with expressions of sharp attention.
Before my regression, such a scene would have spawned countless posts on workplace anonymous forums.
Yet in this era’s corporate culture, such behavior was entirely natural, so Seok-won offered only a wry smile inwardly without comment.
Seok-won opened his mouth, drawing the undivided gaze of the Trading Department staff fixed upon him.

“Amid everything happening, you’ve all worked tremendously hard. I thought we might gather together for drinks today to celebrate wrapping up this year well and achieving excellent results next year. What do you think?”

The employees immediately brightened with delight.

“Excellent!”
“We were just craving drinks—how did you know exactly what we wanted!”

They all responded enthusiastically, clearly unwilling to let such a day pass ordinarily.
Seok-won watched their reaction with a smile and spoke.

“Then I’ve made a reservation at Chowon House across the main street. Take your time wrapping up and gather there by four o’clock. By the way, today’s specialty is Korean beef.”
“Ooh!”
“So we’re grilling meat today!”
“Director, you’re the best!”

Indeed, no one disliked Korean beef.
As everyone rejoiced, Seok-won spoke again.

“Oh, and one more announcement. I’ve arranged with the president for all Trading Department staff to have tomorrow off, so feel free to drink without worry today.”
“Woohoo!”
“A day off—you’re not joking, are you!”

An even louder cheer erupted than when the gathering menu had been announced as Korean beef.
For those who arrived early each morning and scrutinized numbers while engaging in fierce competition, even a single day of genuine rest felt precious beyond measure.
Observing this, Seok-won smiled faintly, having said all that needed saying, and turned to leave.

“Wow. Korean beef and a day off—can’t ask for a better combination.”

At Yu Seok-hyun’s remark, Hong Jae-hee clapped in agreement.

“Absolutely! Our director truly is the best.”

Jung Hwan-yeop was already drooling at the mere thought of Korean beef, his mouth watering in anticipation.

“Getting a day off from the CEO—our department head really does have some pull.”

He cast a meaningful glance toward Choi Ho-geun.

“You must be delighted that today’s dinner expenses are covered, sir.”
“I was planning to charge it to the corporate card anyway.”
“That’s going too far. You should show your sincerity by emptying your own pockets for your team members!”
“Stop talking nonsense, you brat.”

Choi Ho-geun placed his hands confidently on his hips as he spoke.

“Once you get married and have kids, you’ll understand—my salary isn’t mine, it’s my wife’s. And that’s exactly what the corporate card is for in situations like this.”
“I can’t argue with that logic.”

Choi Ho-geun clapped his hands lightly to gather everyone’s attention.

“Come on! If you want to go to dinner, get your work organized first!”

Hong Jae-hee then clenched her adorable fists and shouted.

“You heard the team leader! We need to go eat Korean beef, so hand over those transaction statements right now!”
“Got it.”
“We need to be first! If we go late, the other teams might snatch all the good spots.”

As Hong Jae-hee’s passion for Korean beef burned brightly, the reluctant Jung Hwan-yeop and Yu Seok-hyun quickly got to work organizing the transaction records.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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