Golden Spoon Investment Portfolio - Chapter 109

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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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109. I really hope we get a chance to meet someday.

New York, USA.
A premier restaurant with expansive floor-to-ceiling windows framing Manhattan’s glittering, magnificent skyline in breathtaking splendor.
The interior, decorated with an overall antique aesthetic, exuded the refined atmosphere unique to establishments frequented by the elite.
On a stage set to one side, a female vocalist in a shimmering dress caught in soft lighting stood before a standing microphone, performing a languid jazz piece live to piano accompaniment.
The beautiful and lyrical jazz composition formed a perfect pair with the dazzling New York night skyline visible through the windows.
True to its status as a premier restaurant, it was an ideal place to enjoy a meal and conversation in an intimate atmosphere.
Though each main course cost as much as a typical office worker’s weekly salary, the restaurant was packed with patrons from early evening onward, with scarcely an empty table to be found.
Tables were positioned with slight spacing to avoid disturbing one another, and among them sat several recognizable celebrities whose faces alone would identify them.
This alone made it clear that this was a gathering place for true titans of industry and influence—those with vast wealth or significant social power—not just anyone off the street.
Among the distinguished guests elegantly dressed and sipping wines worth thousands of dollars per bottle sat George Hamilton, founder and CEO of the Quantum Fund, and Rodney, his CIO and rumored successor.
George Hamilton brought a forkful of lamb cut with his knife to his mouth and spoke.

“I heard the dollar-yen rate nearly broke through 95 yen today.”

Rodney, seated across from him, answered calmly.

“It did touch 95 yen briefly, but it has since retreated to 95.14 yen.”
“What’s your assessment of where it goes from here?”
“You’re referring to the dollar-yen rate?”
“Yes.”

After a moment’s consideration, Rodney observed George Hamilton waiting quietly for his response, then spoke again.

“As we approach 95 yen, the upward pressure has diminished considerably, but I don’t believe we’ll see a sharp reversal downward.”
“So yen strength will persist for a while longer.”
“That’s correct.”

George Hamilton nodded slightly, apparently in agreement.
Then he spoke with a note of regret.

“I thought President Davidson’s policy direction would shift toward a strong dollar with high interest rates to combat inflation following the midterm election defeat. My prediction was completely off the mark.”

In fact, post-election analysis revealed that the exodus of the middle class—suffering from soaring inflation—was the decisive factor in the ruling party’s defeat.
The decline in support from the middle class, which had been the Democratic Party’s core base, was truly painful for the White House and the ruling party.
For Philip Davidson, who was seeking reelection in next year’s presidential race, it was as if fire had suddenly erupted at his feet.
In response, President Davidson abandoned the low-interest-rate policy he had maintained and made a sharp pivot toward high interest rates to combat inflation.
Mexico’s sudden foreign exchange crisis was a direct consequence of this policy shift by the United States.
When America raised interest rates, a stronger dollar was the natural outcome.
As a result, most major Wall Street investors, including George Hamilton, had been betting on dollar strength since late last year.
Rodney glanced sideways at George Hamilton in front of him and spoke in a consoling tone.

“The Mexico crisis was within our expectations, but honestly, who could have predicted such a massive earthquake in Japan?”
“That’s true.”

When George Hamilton raised one hand, a waiter approached and refilled his empty wine glass.

“How much capital has flowed back to Japan so far?”
“I believe it’s slightly over one trillion yen.”

George Hamilton’s expression showed slight admiration.

“I knew it, but Japan’s economic strength is formidable. Truly befitting an economic powerhouse that nearly surpassed America.”

Rodney could now fully grasp the terrifying power of the yen carry trade—the funds commonly known as the “Watanabe housewife” phenomenon that flow out of Japan to invest in foreign assets.

“The damage from the Kobe earthquake was said to be ten trillion yen?”
“Yes.”
“Then we can expect yen carry funds to continue flowing back for quite some time.”

Rodney answered with a somewhat troubled expression.

“That seems likely.”

Wall Street investors who had anticipated dollar strength sold yen and German marks while massively purchasing dollars.
George Hamilton was no exception—the Quantum Fund he led had particularly built positions selling Japanese yen and buying dollars.
Moreover, George Hamilton, who had become famous for attacking the Bank of England, had publicly declared in interviews with major media outlets that “the dollar is currently undervalued compared to the yen,” openly advocating for yen depreciation and dollar strength.
Yet within mere months, the exact opposite unfolded, and he became the target of public ridicule.
The humiliation was mortifying enough, but the greater problem was that with his prediction proven wrong, the Quantum Fund was suffering enormous losses.
Yet strangely, George Hamilton showed no signs of anxiety or restlessness whatsoever.
Instead, he leisurely brought his wine glass to his lips, took a sip, and spoke.

“It’s fortunate we’ve put safeguards in place just in case.”
“I share that sentiment entirely.”

Rodney leaned forward slightly, his expression turning grave.

“However, for the option conditions to be met, the exchange rate must break through 95 yen and climb higher. As I mentioned before, the resistance is formidable.”
“The harder the fight, the greater the reward—that’s how it works.”

George Hamilton’s lips curled into a thin smile.

“Resistance is nothing but an obstacle to be crushed under greater force.”

Rodney met George Hamilton’s gaze, his voice firm.

“If the exchange rate rises too sharply, the Bank of Japan may intervene directly in its defense.”

George Hamilton set down his wine glass and leaned back, asking with meaningful intent.

“Do you know what my nickname is?”
“The man who brought the Bank of England to its knees, sir.”

Rodney answered with reverence in his voice.
Not everyone could achieve something grand enough to be etched permanently into the annals of global economic history.
Naturally, the respect in Rodney’s eyes deepened as he regarded him.

“The first time is always difficult, but the second time becomes easy, doesn’t it?”

Rodney, quick to grasp George Hamilton’s intent, straightened in his seat.

“If you force the Bank of Japan to surrender after the Bank of England, you would truly be writing a new legend.”
“A legend we create together, you and I.”

George Hamilton gazed at Rodney intently as he spoke.
His eyes gleamed with a brightness impossible to imagine from someone in his sixties.
Seeing his undiminished vigor, Rodney smiled as well.

“A legend we’ll create together… just hearing those words fills me with boundless determination.”

After finishing his meal, George Hamilton wiped his mouth with his napkin and set it on the table.

“Now, while the Bank of Japan is reeling from the earthquake, this is their weakest moment. So don’t miss this opportunity—draw up a new plan and bring it to me.”
“How soon would you like me to report back, sir?”
“The sooner, the better.”
“I’ll have the proposal on your desk by tomorrow morning.”

Noticing that Rodney had already prepared a Plan B as circumstances diverged from the original strategy, George Hamilton’s expression grew satisfied.

“This is exactly why I value you so much.”

George Hamilton, regarding Rodney as his potential successor, suddenly recalled something and spoke.

“We’ll handle the Japan situation that way, but I read a fascinating paper not long ago. If you have time, take a look at it yourself.”

George Hamilton had always been more interested in academia than investment, and he harbored a strong desire to have his economic theories recognized in scholarly circles.
Perhaps because of this, even after becoming a titan of Wall Street, reading economics papers whenever he had spare time remained his sole hobby.
Rodney, who knew this well, responded lightly without overthinking.

“The way you speak of it, the content must have been quite compelling.”
“The title is ‘The Correlation Between Technological Development and Economic Crisis.’ In essence, it argues that as technology accelerates information transmission, fear and anxiety spread rapidly as well, meaning investor psychology will have an even greater impact on economic crises than in the past.”
“That’s quite an intriguing perspective.”

Rodney let out a small murmur of admiration upon hearing this.

“People’s understanding of the world is fundamentally insecure, and since predictions diverge significantly from reality, it exerts a decisive influence on how events unfold—it aligns with my long-held theory in many respects.”
“That’s why it caught your interest, then.”
“Even setting that aside, there’s plenty of fresh insight applicable to investment.”
“Who wrote it?”
“Professor Frank—you’d know him.”
“You mean Philip Frank, the Nobel Prize-winning economist from Harvard University?”

George Hamilton nodded and spoke.

“That’s right.”
“Professor Frank is recognized not only in academia but on Wall Street as well, so I absolutely must read it.”
“But this paper wasn’t written by Professor Frank alone—there’s a co-author.”
“Anyone collaborating with Professor Frank must be a scholar of considerable standing.”

Then an unexpected answer came from George Hamilton’s lips.

“I thought the same thing, but I was quite surprised when I looked into it.”

Rodney stared at me with a puzzled expression.
For some reason, George Hamilton’s face seemed slightly animated, like a child who had discovered an amusing toy.

“Well, it turns out the co-author isn’t a renowned university professor or famous scholar, but a young man who graduated from Harvard just a few years ago.”
“Really? Is that true?”

Rodney asked in surprise.

“It might sound like I’m joking, but it’s genuine. I couldn’t believe it myself, so I verified it several times—it’s the truth.”
“If that’s really the case, he must be an extraordinary genius.”
“From what I’ve heard, Professor Frank tells people around him that if this fellow had remained in academia, he would have won the Nobel Prize in Economics just like he did.”
“Does that mean he’s not currently in the academic world?”
“He graduated from Harvard and returned to his home country, I hear. So here’s the thing—I’d like to scout him for our fund. What do you think?”

Talent recognized by a Nobel laureate required no further deliberation.

“The more talented people we have, the better.”

Rodney answered immediately, then a sudden question crossed his mind.

“But given that he returned to his home country, he doesn’t appear to be American.”
“I heard he’s an exchange student from Korea. His name is… yes, Seok-won Park.”

Rodney’s brow furrowed at the familiar-sounding name, and he soon recalled who it was, letting out a short exclamation.

“Ah.”
“What is it?”
“If he’s the same person I know and not just someone with the same name, it would be difficult for him to work with us.”
“Why would that be?”
“Do you remember the Eldorado Fund?”
“You mean the place that made a killing in bonds last time?”
“Recently, they’ve been generating substantial profits by trading Mexican pesos and yen.”

The Eldorado Fund was precisely the place that had drawn Wall Street’s attention with remarkable returns over the past few years, so George Hamilton was familiar with the name.

“Don’t tell me he’s already been scouted by them.”

George Hamilton furrowed his brow in question, and Rodney broke into a wry smile.

“That’s not it—the owner of the Eldorado Fund is Seok-won Park himself.”
“What!”

George Hamilton’s eyes widened at this unexpected revelation.

“Is that really true?”
“Yes, it is.”

George Hamilton let out a hollow laugh, unable to conceal his bewilderment.

“I was puzzled by how a fledgling fund could achieve such absurd returns, but hearing what you’ve said makes it all click into place.”
“I feel the same way.”

Rodney, who had long suspected that it was Seok-won rather than Andrew Card orchestrating the Eldorado Fund’s investments, could now solidify his conviction.

“A rival fund manager, then… As you said, recruiting him would be difficult.”

George Hamilton smacked his lips with genuine disappointment.

“But now I’m even more curious about what kind of man he is. I’d really like to meet him if the opportunity ever presents itself.”

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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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