Golden Spoon Investment Portfolio - Chapter 150

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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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150. The true victor of this game will be you.

Plaza Hotel Penthouse, New York, USA.
On a spring morning when soft sunlight poured down, I sat at a wide balcony table overlooking Manhattan’s towering skyscrapers and Central Park, enjoying brunch while reading today’s edition of the New York Times.
On the table draped with a white tablecloth lay fresh fruit, freshly baked croissants, scrambled eggs, thinly sliced ham and cheese, arranged alongside aromatic ground coffee.
As I turned the page of the New York Times and took a sip of coffee before setting it down, I heard footsteps, and Landon Shore appeared in a gray suit, approaching me.

“I see you’re in the middle of breakfast.”

I folded the newspaper in half and set it aside on the table.

“The jet lag made me wake up a bit late. If you haven’t eaten yet, why don’t you join me?”
“That’s quite all right.”

Landon Shore politely declined with an apologetic expression, having interrupted my meal.

“I’ll just have a cup of coffee.”

A Hotel Staff Member standing nearby brought a fresh gilt-rimmed teacup on a tray and set it before Landon Shore, then poured ground coffee from a teapot.
After adding sugar cubes to his taste and stirring lightly with a teaspoon, Landon Shore took a sip of coffee and smiled with satisfaction.

“When did you say Tom arrives in New York?”

I speared a perfectly cooked slice of ham with my fork and asked as I brought it to my mouth.

“We sent the fund’s private jet, so he’s scheduled to arrive tomorrow afternoon.”
“And Vice President Bill is coming with him, correct?”
“Yes, that’s what I understand.”
“Make sure there are no inconveniences during their stay in New York.”

Landon Shore responded with a smile.

“Rest assured. They’re distinguished guests who will bring in substantial profits—we must treat them with the utmost care. It seemed they were quite fond of this hotel last time, so I’ve reserved the same suite they stayed in before.”
“Well done.”
“By the way, have you heard that George Hamilton is testifying at a Senate hearing today?”

Landon Shore glanced sideways at the New York Times set to one side as he asked.

“The public hearing is being held due to illegal activities in the financial market and derivatives regulation, correct?”
“Yes. Following the Bank of England attack and the Mexico currency crisis, lawmakers in Washington have already been uncomfortable with the unchecked actions of hedge funds. Now that hedge funds have driven up the Japanese yen again, it appears they’re moving toward regulation.”
“They called George Hamilton because he’s the representative figure of hedge funds. He’s become the target.”

Landon Shore shrugged as he answered.

“He’s the man who brought down the Bank of England, after all. And since he also led this yen surge, the arrows were bound to point at him.”

Then he lowered his voice and spoke with a meaningful expression.

“Of course, it was the boss who threw the final counter punch in this Tokyo offensive. Looking back now, it seems like a brilliant move to stay out of the spotlight and quietly pocket substantial profits. If I hadn’t done that, I might have ended up like George Hamilton—summoned to a public hearing and subjected to all sorts of harassment.”

Landon gazed at him anew with admiring eyes.

“Did you foresee all of this from the beginning and deliberately step back?”
“There’s a Korean saying: the protruding nail gets hammered down. It means that when you stand out, you inevitably become the target of others’ jealousy and resentment.”
“Envy of those superior to oneself is human nature, after all.”

Landon nodded in agreement.
Meanwhile, Seok-won, who had finished his meal, carefully wiped his mouth with a napkin as he spoke.

“I didn’t intentionally hide in the background, but there’s no reason to unnecessarily draw attention and create enemies when there’s no need to step forward.”
“That’s a fair point.”

Landon Shore, who had agreed, wore a slightly worried expression.

“But won’t stricter government regulation make it harder to invest going forward?”

It was natural to be concerned, as more regulations would inevitably constrain hedge fund investment activities.
But Seok-won was surprisingly relaxed.

“That won’t happen, so you don’t need to worry.”
“Seeing the Senate hold a public hearing with George Hamilton summoned, it doesn’t seem like something they’ll let slide easily.”
“Congress believes hedge funds created chaos in the financial market through derivatives trading and manipulated currencies, but everything was conducted within the bounds of the law—no illegal acts were committed. Besides, if regulations are implemented, Wall Street will suffer considerable damage along with hedge funds. They won’t push the narrative in that direction for their own sake.”

Landon Shore showed a look of understanding at the confident tone.

“True, hedge funds made substantial profits, but Wall Street has also been making decent money by providing capital from behind. They won’t want to see such a lucrative operation disappear.”
“Exactly.”

Seok-won continued speaking as he tilted his teacup.

“If this public hearing brings widespread attention to how much profit these hedge funds have been making—something that was only vaguely known before—it could actually attract even more capital into the market.”
“You’re saying that wealthy investors will pour their fortunes in after seeing such high returns.”
“Exactly.”

Landon Shore smiled faintly, imagining major investors rushing in with their money.

“I hope things work out that well. Of course, even if investment capital floods in, it has nothing to do with us since we don’t accept any external funds.”

Seok-won chuckled softly and smoothly changed the subject.

“How’s the yen exchange rate moving today?”
“It’s holding steady at 82.1 yen, up 0.7 yen from yesterday.”
“It’s interesting that despite favorable statements for Japan coming from the G7 Finance Ministers’ meeting, it hasn’t had much impact.”
“Once the market’s momentum shifts, it’s not easy to reverse it.”

Landon Shore glanced at Seok-won cautiously before continuing.

“The market still seems to be betting that yen appreciation will continue for a while.”
“The situation will change soon enough. Let’s just watch and wait.”
“…Understood.”

Landon Shore grimaced, seeing that Seok-won had no intention of changing his short yen position at all.

“Whether it’s because of this atmosphere or not, we’re seeing a significant increase in Japanese companies interested in the options we’re offering.”
“Is that so?”
“Just yesterday, we signed a new 500 million dollar options contract with Nissan Motor.”

At that, Seok-won broke into a broad smile, flashing his teeth.

“That’s excellent. If any company wants to purchase options, accept it regardless of the amount.”
“Understood.”
“And make sure to strictly follow the rule about not selling options to companies with annual sales below 50 billion yen, even if they want to contract with us.”

Since Landon Shore had heard this instruction several times before, he answered immediately.

“We verify this without fail before entering into any contract, so please have no concerns.”

The more option contracts Seok-won sold, the better, but he imposed limits on sales volume because if the exchange rate collapsed later, smaller companies could face insolvency despite profitability due to the options contracted with the Eldorado Fund.

‘Large corporations like Toyota and Nissan alone provide more than satisfactory profits. There’s no need to be greedy for small change and earn a bad reputation.’

George Hamilton himself had made substantial profits from the yen attack, but he had to endure being called a “black Jewish mafia” by Japanese media and was eventually summoned as a witness to a parliamentary hearing.
The KIKO crisis that later became a major social problem in Korea occurred because banks sold options to financially vulnerable export small and medium enterprises without properly disclosing the risks involved.

‘I have no intention of being summoned by the Japanese Government or parliament if a similar large-scale insolvency crisis unfolds.’

Seok-won leaned back in his chair with these thoughts and sipped his coffee leisurely.

* * *

Washington, USA.
A large crowd of journalists gathered in front of the Capitol Building, whose pristine marble walls and massive dome conveyed an imposing grandeur.
They were waiting to interview George Hamilton, who was attending as a witness at the Senate hearing held that day.
In addition to American media, foreign correspondents from various countries were present, and notably, Japanese reporters who had recently been battered by Hamilton and the hedge funds were particularly conspicuous.
After some time had passed.
George Hamilton, dressed in a dark navy suit, walked out of the building with his entourage.

“He’s coming out!”

At someone’s shout and raised arm, the waiting journalists rushed toward George Hamilton.
More than thirty reporters instantly surrounded him in a circle, thrusting microphones and cameras forward while bombarding him with questions.

“How do you feel about attending today’s hearing?”
“There are accusations that hedge funds like you, Mr. Hamilton, are making enormous illegal profits through predatory practices. Please comment on this!”

Despite the broadcast cameras rolling and flashes erupting from all directions, Hamilton maintained a composed expression, but his brow furrowed slightly at those words.
A Japanese reporter glared at him, holding out a microphone toward the source of the voice.

“I and the Quantum Fund I operate conduct investments according to the rules within the boundaries of the law, and generating profits through such means is my profession.”

At my assertion that I was simply doing my job, the Japanese reporter pressed on with a venomous tone.

“Isn’t it a crime to conspire with other hedge funds to deliberately manipulate the yen exchange rate, make enormous profits, and steal money from the Japanese people!”

Though the reporter was launching a deliberate attack, Hamilton responded calmly.

“The foreign exchange market trades over one trillion dollars daily. In comparison, the Quantum Fund’s managed assets are merely tens of billions of dollars. Anyone with a functioning brain understands that manipulating exchange rates with such capital is impossible.”
“That’s precisely why you resorted to the despicable tactic of leverage!”

The Japanese Reporter countered immediately, but a cold sneer played across George Hamilton’s lips.

“Japan is an economic powerhouse holding over one hundred twenty billion dollars in foreign reserves. For such a nation’s currency to collapse under a mere tens-of-billions-dollar currency attack suggests the underlying economic conditions and systems were fundamentally flawed from the start, wouldn’t you say? My colleagues and I simply identified those vulnerabilities and placed our bets where the probability of profit was highest.”

George Hamilton regarded the Japanese Reporter with an icy gaze as he spoke.

“Furthermore, leverage is neither fraud nor a contemptible trick—it’s a standard investment technique commonly employed in financial markets. If you’re going to conduct interviews, at least educate yourself on basic financial principles before asking questions.”
“I… I!”

The Japanese Reporter’s face flushed crimson as he stood before me, utterly speechless.

He had intended to portray George Hamilton as a financial speculator, only to find himself humiliated instead. His indignation was palpable.

‘So this is George Hamilton.’
‘There’s a reason he’s made such a name for himself on Wall Street. He’s no ordinary figure.’

While the other reporters processed this, the Blonde Reporter holding an NBC-branded microphone swiftly posed her next question.

“Following your victories against the Bank of England and the Bank of Japan, you’ve earned the most substantial profits. Would you care to comment on that?”

George Hamilton paused briefly before responding.

“While it’s true that this investment generated significant returns, I believe the claim that the Quantum Fund and I earned the most profit is inaccurate.”
“Pardon?”

The assembled reporters exchanged puzzled glances.

“Despite our high-profile activities, I only profited nine hundred million dollars. There’s another entity that earned over one billion one hundred million dollars—substantially more. They are the true victors of this game.”

The reporters, caught entirely off guard by this revelation, pressed forward with questions.

“Such an entity exists?”
“Who are they?”

George Hamilton’s lips curved into an enigmatic smile as he satisfied the reporters’ curiosity.

“It’s the Eldorado Fund.”

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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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