Golden Spoon Investment Portfolio - Chapter 121

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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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121. It seems the situation we’ve been waiting for in Singapore has finally erupted!

Seok-won sat on the sofa in the department head’s office with Manager Choi Ho-geun from Team 4.
Dressed in a black suit with his hair neatly combed, Seok-won carefully examined the file folder in his hand, then returned it to Manager Choi Ho-geun seated on the right sofa and spoke.

“Team 4’s performance this month has been excellent.”
“We still have a long way to go to match the profit margins you recorded when you were the department head.”

Seok-won let out a soft chuckle at the flattering remark and picked up the teacup placed before him.
By the time he finished reading the documents, the coffee had cooled to just the right temperature for drinking.
After taking a sip and setting the cup down, Seok-won leaned back against the plush sofa and spoke.

“Both O-Gwang Industries and Cheonho Steel have risen quite substantially this month as well.”
“It’s not just a rise—O-Gwang Industries has exceeded 600,000 won per share, and Cheonho Steel has also surpassed 300,000 won. At this point, I’m genuinely frightened to imagine how much higher they’ll go.”

Based on the average purchase price Seok-won had acquired, O-Gwang Industries had surged four-fold, while Cheonho Steel had skyrocketed a staggering ten-fold.

“The upward momentum is so fierce that even the pessimists who predicted a crash soon are changing their tune. They’re desperately trying to buy O-Gwang Industries and Cheonho Steel stocks before they miss the boat.”
“Is that so?”

Seok-won listened with a gleam of interest in his eyes.

“The rise is so steep it’s frightening, but when I see people who’ve suddenly struck it rich overnight from the stock surge, honestly, even I feel greed creeping in.”

Seok-won stroked his chin thoughtfully for a moment, then looked at Manager Choi Ho-geun and spoke.

“If the atmosphere has heated up so much that even the pessimists have turned around, I think it’s time we started taking profits and cashing out.”
“Pardon?”

Manager Choi Ho-geun’s eyes widened in surprise at the unexpected statement.

“When pessimism disappears and everyone scrambles to buy, even if just to catch the last train up, isn’t that a signal that we’re approaching the peak?”
“That may be true, but given the market sentiment, don’t you think there’s still room for further gains?”

Unlike Manager Choi Ho-geun, who showed reluctance, Seok-won remained composed.

“Do you really think so?”

Seok-won posed the question with his fingers interlaced, and Manager Choi Ho-geun leaned forward in his seat to respond.

“The price is certainly steep, but individual investors continue to pour in. I don’t believe the upward trend has broken.”

He continued speaking as he observed Seok-won listening quietly.

“Moreover, considering that the government is actively supporting the stock market, isn’t it highly likely that the bull market will continue for some time?”
“That’s not wrong.”

Just as Manager Choi Ho-geun had said, the amount of stock market deposits—an indicator of prosperity—grew day by day, and the government made no effort to conceal its intention to stimulate the stock market.

‘In fact, next year they’ll significantly raise the foreign ownership limit from 10% to 20%, actively encouraging foreign investment.’

This would eventually cause considerable turmoil, but that was a matter for later and held no importance now.
Seok-won regarded Manager Choi Ho-geun with a serious expression and spoke.

“As you say, at least for the rest of this year, the stock market won’t experience a slump or crash.”

Manager Choi Ho-geun, who had seemed pleased to have his opinion accepted, furrowed his brow at what came next.

“But just because the index doesn’t fall doesn’t mean individual stocks won’t decline—they won’t all rise.”
“…?”
“Why did O-Gwang Industries and Cheonho Steel surge in the first place?”
“Because they’re low-PER stocks with valuations below their intrinsic worth, so investment flooded in. And Cheonho Steel’s stock price skyrocketed due to the real estate it holds, didn’t it?”
“Exactly. But can you call these two companies low-PER stocks now?”
“…!”
“When foreign investment first began, O-Gwang Industries’ PER was only around twice what it should be, so it was clearly undervalued. But that’s not the case anymore.”

Manager Choi Ho-geun’s expression hardened as he grasped the implication.

“Rather, now they’re significantly overvalued compared to their true worth. The same applies to Cheonho Steel.”
“…”
“The stock price has long since surpassed the value of the real estate Cheonho Steel owns and risen far beyond it. If this isn’t overheating, what is?”

Faced with such logical reasoning, Manager Choi Ho-geun realized he had no grounds for rebuttal and acknowledged his oversight.

“Anyone can see this is an overshooting situation, yet I missed it… I suppose my vision narrowed because I was too greedy to boost returns.”
“A retail investor might get excited seeing stock prices rise, but it’s problematic when a professional like you do that, Manager Choi. In moments like these, you need to stay even more detached and observe the market with a cool head.”

After hearing Seok-won’s sharp advice, Manager Choi Ho-geun bowed his head in apology.

“I’m ashamed.”

It was true that I had overlooked crucial details, and in the stock market, mistakes meant losing money—there was no room for excuses.
Since he had clearly understood the point, I didn’t rebuke him further and ended the conversation with a concise tone.

“From now on, try to observe the market from a broader perspective.”
“Yes. I’ll make sure this never happens again.”

Watching him cleanly accept his mistake and reflect on it, I gave a small, inward nod of approval.

“The foreigners will have fully grasped what I just pointed out. They’ll likely move to sell their shares soon and lock in profits.”
“Unlike domestic investors, foreigners trade strictly based on data and numbers, so they definitely will.”

They might have already decided to sell and were simply waiting for the right timing.

“If they dump all their shares at once, other investors who’ve been watching will follow suit and sell, which could trigger a sharp decline.”

Stock prices had soared so high that everyone expected them to climb further, yet anxiety lingered in the back of their minds.
Moreover, my holdings were substantial, so selling everything at once could be like throwing a stone onto thin ice—it might trigger panic in the market.

“So first, let’s gradually reduce our holdings in Cheonho Steel, which has already shot up to the ceiling.”
“How long should I set as the selling deadline?”

Knowing that with foreign investors and manipulation forces combined, the stock would hit its peak at 316,000 won on the first day of next month, I answered without hesitation.

“Sell everything before the end of this month.”
“Understood. What about O-Gwang Industries?”
“Close that position as well.”
“Yes. I’ll handle it as you say.”

As Manager Choi Ho-geun gave a brief reply, I smiled slightly and spoke.

“Given the substantial returns we’ve earned, you and everyone in Team 4 can expect a generous bonus.”
“You’re giving us bonuses even though this is a fund you personally manage, sir?”

Seok-won responded casually to my startled expression.

“It’s not the first time I’m giving out bonuses. Why are you so surprised?”
“Well, back then you were with our Team 4, but now you’re not, so it feels a bit presumptuous of you to look after us like this.”

Manager Choi scratched the back of his head awkwardly.

“I may have changed positions, but as I just instructed, I still have you under my direction and Team 4 is still handling the trades on my behalf. So I have a stake in the results we’ve achieved, don’t I?”

Honestly, even if I’d just kept quiet about it, no one would have said anything.
Still, Manager Choi was deeply moved once again by Seok-won’s thoughtfulness in remembering him this way.
Soon, with a broad smile, Manager Choi spoke in a bright voice.

“The team members will be thrilled when they hear about this.”
“Just the team members? Don’t you like it, Manager Choi?”
“Ha! Of course I do. My oldest is starting elementary school this year, and there are so many expenses coming up. Thanks to you, sir, I can finally earn some respect at home with my wife.”

The name wouldn’t change to elementary school until 1996, so it was still called primary school.

“Your oldest is a daughter, right?”
“Yes, that’s correct.”
“Putting two children through university will require quite a bit of money.”
“That’s what I’m thinking. When the kids get older, I’ll need to move to a bigger place. I’m already worried sick about it.”
“How many square meters is your current apartment?”

Manager Choi answered somewhat sheepishly, looking a bit embarrassed.

“A 24-pyeong government apartment.”
“That would be cramped with two children.”
“Yes, it’s manageable for now since they’re still young, but my wife keeps hinting that we’ll need to move soon… Ahem.”

Manager Choi cleared his throat awkwardly and prepared to stand up from his seat.

“I’ve been rambling on about useless things when you’re busy. I should be going now.”
“All right.”

Just as Manager Choi left the office, my cell phone on the desk rang as if on cue.
Rising from the sofa, I went to the desk and answered the call.

“Hello?”
[Boss, it’s Landon.]

At that moment, my secretary Na Seong-mi knocked and entered, quietly clearing away two empty teacups from the desk and tidying the table.
Watching her bow respectfully before leaving, I sat down in my desk chair with the phone pressed to my ear.

“It must be nighttime in New York. What’s happened?”
[It seems the situation we’ve been waiting for in Singapore has finally erupted!]

A thought flashed through my mind, and my eyes gleamed as I asked.

“Are you talking about Brad Cooper?”
[Yes. Since yesterday, he hasn’t shown up on the Trading Floor and has disappeared without a trace.]
“Then….”
[We’ve confirmed he’s suffered massive losses in succession recently. It appears that once the losses became too large to bear, he simply fled.]

Recalling how in the original timeline, when things spiraled out of control, he irresponsibly abandoned everything and fled to Kota Kinabalu, a resort destination, with his wife before being arrested, I asked.

“What about Barings Bank’s movements?”
[An audit team has hastily flown out from London, and the Singapore office is in complete chaos. Given that SIMEX has suspended Barings Bank’s trading privileges and even barred staff from entering, the bomb Brad Cooper left behind might be far larger than we anticipated.]

Even though there was no one to overhear during the call, Landon lowered his voice and spoke gravely.

[According to rumors circulating, the hidden investment losses exceed 600 million dollars.]

If my memory serves correctly, Brad Cooper had lost 827 million dollars.
However, with my involvement, the Nikkei index and Japanese yen prices had fluctuated far more dramatically, so it was possible the losses were even greater than that.

“If that’s true, then Barings Bank has lost more money than its total assets.”
[The moment rumors of trouble at the Singapore office spread, everyone began dumping bonds issued by Barings Bank, and the prices plummeted to junk bond levels.]
“If a bank might collapse at any moment, I would have dumped my bank bonds too if I’d been holding any.”
[Of course. I would have done the same.]

Landon responded in agreement with a noticeably excited tone, then let out a low chuckle.

[Barings Bank has been struck by disaster because of one fraudster, but thanks to him, those of us who shorted have been struck by a windfall of profits.]

I too held the phone in my hand, a deep smile spreading across my lips.

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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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