Golden Spoon Investment Portfolio - Chapter 140

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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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“Then it certainly seems worth placing a bet on.”

Song Jong-geun set down the receiver after finishing his call with the Hong Kong dealer handling the options trading, and Kim Jung-sik, standing beside him, immediately asked with barely contained eagerness.

“How did it go?”

Looking around, I saw that not only Kim Jung-sik but all the other team members were staring at me with eyes brimming with anticipation.

“We’ve completely liquidated our position at 79.97 yen.”
“Wow!”
“Over 20% profit margin!”
“At this rate, shouldn’t we be celebrating with drinks tonight?”

The team members erupted in unison with cheers, their voices filling the office with jubilant commotion.

“Song, well done.”
“Thank you.”

Kim Jung-sik, his face beaming with a broad smile, patted Song Jong-geun on the shoulder repeatedly.
All those days of watching the exchange rate fluctuations, my heart pounding with anxiety as I fixated on the monitors, now felt like a distant dream.
Though exhaustion weighed heavily on me from arriving at the office before dawn and working without rest, seeing the results in hand made it feel as though all my hardship had been rewarded in an instant.

“Wow, Investment Team 1 really hit the jackpot.”
“Congratulations!”
“You all did great work.”

Other team members sharing the same office, hearing the cheers, leaned over their partition dividers and applauded, joining in the celebration.
At that moment, Seok-won, who had come down to the trading center, approached with a smile on his face and spoke.

“From all the commotion, it looks like you’ve finished closing out your positions.”
“Department Head!”

Kim Jung-sik, who had been laughing heartily and patting his team members on the shoulders, quickly straightened his posture and bowed respectfully.

“Oh, you’re here.”
“At what price did you sell?”
“79.91 yen.”
“So that’s about a 20% profit margin.”

Song Jong-geun stepped forward with keen awareness and added his explanation.

“To be precise, it’s 23%. After deducting expenses, we’ve made approximately 3.4 million dollars in profit.”

Satisfied with the profit margin, Seok-won beamed as he looked around at the members of Investment Team 1, who were in a festive mood.

“You’ve all worked hard.”
“Hahaha! Not at all.”

Kim Jung-sik, the team leader who had single-handedly achieved the team’s April profit target with this transaction, waved his hand modestly.

“Well then….”

As Seok-won pulled an envelope from his inner pocket, the eyes of the team members gleamed.

“Since you’ve all worked hard, we should fill your bellies properly, don’t you think? I’m sure you’ve all eaten hastily.”
“The department head sent us lunch boxes. They were so delicious that we ate every last bite.”
“Still, let’s have a proper meal. Let’s all go out for a team dinner with this.”
“Oh my. You really don’t need to treat us like this….”

Under the warm gazes of his team members, Kim Jung-sik, despite his words, kept bowing his head repeatedly while accepting the envelope Seok-won offered with both hands.
The thick texture of the envelope he felt at his fingertips made his lips curve upward even more.

‘Ah, today I’ll finally get to eat my fill.’

The menu for the team dinner scrolled through Kim Jung-sik’s mind.
Lost in the happy dilemma of what to eat to earn a reputation as someone with good taste, he almost let out an involuntary chuckle.

“Everyone, thank you for your hard work.”

Having encouraged his team members once more, Seok-won smiled softly, waved his hand lightly, and turned to leave.

“Kim, prepare a report and bring it to me later.”
“Yes.”

Since trading hours hadn’t ended yet, Seok-won left the trading center without further disruption.
One of the team members caught sight of the envelope in Kim Jung-sik’s hands and sidled over with an exclamation.

“Is that the legendary bonus from the department head we’ve only heard about?”
“Wow, it’s thick. Really thick.”
“I was always jealous when Team 4 received their meal allowance, but finally we got ours too!”

Everyone’s eyes gleamed with curiosity about how much money was inside.

“Team lead, let’s check it right away!”
“Why are you all so impatient?”
“You said every day that you envied Team 4, sir.”
“Hey, why’d you have to bring that up!”

Song Jong-geun, who had been maintaining his composure in front of the team members, let out an exasperated sound.
His eyes betrayed his own curiosity, gleaming with barely concealed anticipation.

“Alright, let’s wait a moment.”

Kim Jung-sik took a deep breath and opened the envelope, pulling out the bills inside.
When they saw a thick stack of blue ten-thousand-won notes emerge, the team members let out a cheer.

“How much is all that?”
“Just as expected from the department head! Now I understand why Team 4 praises you all the time.”
“Hey, does anyone know an expensive, delicious restaurant? Let’s loosen our belts and really go all out today!”
“How about Korean beef instead of pork belly today?”
“That sounds great!”

Having wrapped up the bet they’d been anxiously holding and achieved satisfying results, the faces of Investment Team 1’s members were radiant with joy.

* * *

That afternoon.
Seok-won, wearing a refined designer necktie, stood with his arms crossed, watching the television installed in one corner of his private office.
The NHK logo was emblazoned at the top of the television screen, but since Japanese popular culture hadn’t been officially opened yet, it was technically impossible to watch Japanese broadcasts in Korea during this period.
However, Seok-won had installed a satellite antenna and set-top box to receive NHK satellite broadcasts.

“Hmm. It’s about to begin.”

Seok-won’s eyes gleamed as he watched Kajiwara, his stern face etched with resolve, enter the room and take his place before the podium, surrounded by a throng of journalists.
Camera flashes erupted from all directions, bombarding Kajiwara’s face with relentless bursts of light.
The cacophony of reporters shouting in Japanese overlapped and reverberated, the chaos of the scene transmitting vividly even through the television screen.
As the shutter sounds gradually subsided moments later, Kajiwara cast a melancholic gaze upon the cluster of microphones arrayed before him.
Then, with visible effort, he pried his lips apart and finally uttered his opening words.

[We have convened this emergency press conference today to address the stabilization of the yen amid heightened recent volatility.]

The moment Kajiwara began speaking, the room fell silent in an instant.

[Concerned about the multiple factors adversely affecting economic recovery—including the economic downturn from the Kobe earthquake and the stagnation in the stock market—the Bank of Japan has decided to lower the benchmark interest rate, currently at 1.75%, to support the economy from a financial perspective.]

Camera flashes erupted anew as reporters’ hands moved with renewed urgency, their fingers dancing across laptop keyboards and scribbling frantically across notepads.

[The reduction will lower the rate from 1.75% by 0.75 percentage points, bringing it to 1.0% annually—the lowest level in history. This reduced benchmark rate will take effect immediately, starting today.]

The audacious measure of slicing 0.75 percentage points all at once sent a visible ripple of shock through the assembled journalists.

[Finally, the Bank of Japan will work in close coordination with the Cabinet, carefully monitoring Japan’s economic situation including exchange rates, and will promptly implement swift and aggressive policy measures whenever deemed necessary. I wish to make this abundantly clear.]

As Kajiwara concluded his remarks, reporters thrust their arms skyward, unleashing a torrent of questions.

[Are you reversing your previous opposition to rate cuts in response to the yen’s sharp surge in the Tokyo Foreign Exchange Market today?]
[Many believe the yen will continue its extraordinary strength now that it has broken through the 80-yen barrier—what are your thoughts on this!]
[Has the Bank of Japan surrendered to the assault by hedge funds, including George Hamilton!]
[Please, just one comment!]

Though questions pelted down like rain, Kajiwara kept his lips sealed, offering no response whatsoever, and simply departed the conference hall surrounded by his staff.
The screen then shifted to a reporter stationed at the venue, who raised his microphone and recapitulated Kajiwara’s remarks from moments before.
Meanwhile, a bold caption materialized at the bottom of the screen: [Bank of Japan Benchmark Rate Cut to 1.0%—Dramatic 0.75 Percentage Point Reduction!]

“A perfect declaration of surrender.”

Watching this unfold, Seok-won’s lips curved into a deep, satisfied smile.
Just then, a ringtone suddenly pierced the air, and he turned to retrieve his mobile phone from atop his desk.

“Hello.”
[Boss, it’s me.]

Though his voice was slightly hoarse from staying up all night, Landon’s tone carried an unmistakable brightness as he asked the question.

[Have you seen Kajiwara’s announcement?]
“As it happens, I was just watching the press conference.”

Seok-won replied, his gaze turning toward the television he had left on in front of him.
The screen had already shifted to a news desk, where an anchor sat center stage flanked by a renowned politician and a Tokyo University professor, both offering their opinions on the current situation.

[Just as you predicted, the Bank of Japan has surrendered and thrown in the towel.]
“The moment the 80 yen level broke, I’d say the outcome was already decided.”
[With not only overseas investors but also domestic Japanese financial institutions and export companies gripped by panic, all rushing to buy yen simultaneously, even if I were the Bank of Japan, I would have had no choice but to concede.]
“Still, it worked out well for us that Japan held out as long as they did without surrendering too quickly. We were able to grow our profits even more.”
[Haha, indeed.]

Landon burst into cheerful laughter.

[I’ve liquidated all the long yen positions we were holding before the interest rate cut announcement, as you instructed.]
“I’m already eager to know how much we made.”
[After deducting principal and expenses, we’ve earned 1.12 billion dollars in profit.]

Landon answered promptly, having already completed the calculations.

“Is that including the additional funds we added later?”
[No. From that separate position, we made 48 million dollars in gains.]
“So altogether that’s 1.168 billion dollars.”
[Correct.]
“Not a bad result.”

Seok-won responded with a satisfied expression.

“Let’s take this profit along with our principal and place a short bet on the yen.”
[A short bet, you say?]

Landon, who had been rejoicing moments before, suddenly exclaimed in surprise.

“Once it goes up, there’s nothing left but for it to fall, isn’t there?”
[That may be true, but even if the hedge funds stop their attack, the yen’s overwhelming strength doesn’t seem like it will break easily. Isn’t short betting carrying too much risk?]
“High Risk High Return, as they say.”
[….]
“Everyone thinks the yen will surge. So if we bet on it falling instead, we can make much bigger profits.”
[That’s true, but….]

Unlike Landon Shore, who seemed slightly worried, I wore a confident expression.

“From the perspective of the United States government, which wants a strong dollar, yen strength isn’t a welcome situation. And Japan also needs to weaken the yen somehow to prevent economic stagnation, so there’s a high possibility that a deal will be struck between the two countries soon.”

Landon Shore thought for a moment, then spoke in a tone that still lacked conviction.

[As you say, yen appreciation doesn’t benefit anyone, but surely the White House and the Federal Reserve wouldn’t go so far as to artificially devalue the yen, would they?]

At his reasonably well-thought-out response, Seok-won smiled slightly.
It was better to have someone point out risk factors like this rather than blindly follow orders, since I could occasionally make misjudgments.

“Of course not. But what if the Japanese government solved a problem that the White House and Federal Reserve are struggling with in exchange for weakening the yen?”
[What do you mean?]
“For example, if Japan made large-scale purchases of U.S. Treasury bonds, the United States could significantly reduce its fiscal burden, and by releasing yen to buy dollars, it would naturally create dollar strength, wouldn’t it?”

Landon Shore, who immediately grasped the meaning, let out an exclamation.

[There’s a method like that? Then Japan can also lower the yen, so both sides benefit.]

In reality, when the interests of both the United States and Japan aligned this way, they even included Germany in the middle to artificially create dollar strength—what they called the reverse Plaza Accord.

[Then it definitely seems worth betting on.]

Landon Shore spoke with a positive attitude, unlike before.

“Now is the opportunity while the sentiment for yen strength is strong. Let’s build our position right away.”
[Understood.]

After ending the call, I set down my mobile phone.
Then, gazing at the television screen displaying the old Bank of Japan Headquarters building, I wore a deep smile on 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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