Golden Spoon Investment Portfolio - Chapter 153

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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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153. Why all of a sudden? Is there something you need to see me about?

[The gateway connecting the internet to reality—Netscape’s twenty-something founder hits the jackpot!]
[Netscape breaks $100 per share with unstoppable momentum!]
[Netscape, the vanguard of the internet revolution, becomes the beacon of hope for Silicon Valley’s young entrepreneurs]
[IPO jackpot! Netscape rides the internet wave with relentless rallies]

Netscape, which had skyrocketed over 370% in just four days after its listing—as if someone had woken up a star—became the rising star of NASDAQ and indeed the entire global stock market.
After surpassing $104 per share, the upward momentum had slowed somewhat, trading sideways, but even if it climbed no further, it remained a historic and extraordinary surge.
Investors fortunate enough to receive IPO shares or purchase stock on the first day of trading had hit a jackpot that might come once in a lifetime, literally struck by a windfall of money.
Inside a spacious executive office decorated with modern elegance and sophistication.
Seok-won sat with one leg crossed, watching the television mounted directly ahead.
The large, state-of-the-art PDP television displayed CNBC, the American business news channel.
With a blonde female anchor at the center, two experts were engaged in an extended discussion about the stock market, their focus on the most pressing concern for investors lately—whether Netscape’s stock price would continue rising or collapse from here.

[Does a 370% surge in just three trading days make any sense? This is clearly a bubble.]
[Why doesn’t it make sense? If you consider the boundless possibilities the internet will unfold, Netscape’s growth is only just beginning.]

At the young analyst’s rebuttal, the middle-aged market expert, his hair neatly combed back, squinted his eyes.
Then, with an expression of utter disbelief, he raised his voice.

[Netscape was founded less than two years ago. In that time, its revenue hasn’t reached twenty million dollars, and its net profit is zero. Zero!]

The middle-aged market expert snorted dismissively as he spoke.

[No matter how great the growth potential of the internet is, do you really think it’s normal for a company like this to have a market capitalization approaching six billion dollars and a stock price exceeding one hundred dollars?]
[Why not! Stock prices inherently reflect not only present value but also future growth potential. IT companies emerging alongside the information technology revolution shouldn’t be evaluated by the old, rigid standards of the past.]

At the young analyst’s unstoppable argument, the market expert raised his eyebrows.

[Blinding investors’ eyes with nothing but dreams and hope, encouraging speculation without proper valuation—that’s irresponsible!]
[Mr. Benson, you’re simply too old to keep pace with this rapidly advancing era. I think it’s time for you to retire.]
[What did you say!]

The enraged market expert shouted with veins bulging in his neck.
As the atmosphere grew heated, the female anchor who had been observing the exchange quickly interjected.

“Both of you seem quite excited. Please calm down. We’ll take a brief commercial break and return shortly.”

As the anchor spoke, the screen immediately switched to an advertisement.
While watching the commercial play out, Seok-won murmured with a satisfied expression.

“If a major broadcaster is running a segment like this, Netscape has truly become a superstar.”

The more Netscape was mentioned in the media and on broadcasts, the higher its brand recognition would climb, and the greater the investors’ interest would become.

“That growing interest and hope pushes the stock price even higher.”

Just then, a knock sounded from outside, and Landon Shore opened the door and walked in.
He was dressed in his usual suit, wearing a familiar deep green tie.
As Landon approached, the brief commercial had just ended and the panelists were resuming their heated discussion on television. He glanced at the screen, then settled into the empty sofa on the right and spoke.

“Were you watching television?”
“Yes, they were just discussing Netscape.”
“Indeed, with the stock price surging so dramatically, Netscape-related topics have appeared in the news and broadcasts every single day for the past few days.”
“That means it’s become the center of attention, which is a good thing, isn’t it?”
“That’s true, but…”

Landon Shore spoke carefully, gauging my reaction.

“I’m honestly a bit concerned.”
“About what?”
“As you mentioned, Netscape is certainly a good company that has nearly monopolized the web browser market, and its future prospects are even more promising than today. However…”
“And?”

Landon Shore continued carefully, meeting my gaze as I leaned back against the sofa.

“I’m worried that if the stock price, which has risen so steeply to excessive levels, suddenly collapses when profit-taking emerges, the aftereffects could be devastating.”

Landon Shore glanced at my expression as I listened quietly, then leaned forward in his seat.

“Investors who received IPO shares or bought on the first day and made substantial profits have been gradually selling their stocks to realize gains—this pattern continued today just as it did yesterday.”

The relentless upward momentum had stalled, and the stock price now hovered around $104, trading sideways—precisely the profit-taking selling pressure that Landon Shore had pointed out.
If the stock price were to plummet from here, it would represent a significant loss for Seok-won, who hadn’t sold a single share of his remaining stake and continued to hold it firmly.
Of course, even if it dropped sharply, it wouldn’t fall below the IPO price, so there wouldn’t be an actual loss in absolute terms.
Still, having witnessed the price climb above $104, watching it decline would inevitably feel disappointing and like losing money.
Moreover, as a major shareholder holding 30% of the shares, even a one-dollar decline meant a substantial sum vanishing, so his concern was only natural.
Yet unlike Landon, who showed subtle signs of worry, Seok-won appeared utterly unbothered.

“If you purchased shares the moment trading began on the first day, you’ve already more than doubled your profits, so it’s only natural to feel the urge to sell.”
“That’s precisely why I’m suggesting this—since there’s no separate lock-up restriction on your holdings, wouldn’t it be prudent to liquidate a portion of your shares at this point?”

Landon ventured the proposal cautiously, testing the waters.
A lock-up, also called restricted stock, was a mechanism implemented during IPOs to prevent major shareholders holding substantial stakes from triggering stock price crashes through massive sell-offs that would harm investors. It restricted shareholders from selling their holdings for a predetermined period.
Seok-won was the second-largest shareholder after Tom Harper, yet he wasn’t subject to such lock-up restrictions.
In other words, he could sell his shares on the market whenever he wished.

‘Of course, that doesn’t mean I have even the slightest inclination to sell my shares right now.’

Seok-won, seated on the sofa with his arms crossed, asked a question.

“Are you asking me to realize my profits?”
“Yes, sir. Though not all of it—disposing of roughly 10% of your holdings would be entirely understandable to Netscape. It wouldn’t create any significant market disruption either.”

Landon nodded eagerly and responded.
10% of Seok-won’s shares amounted to well over $170 million at current market prices.
Even this alone would fully recover the $6 million he’d invested in Netscape so far, with an enormous surplus remaining.
But Seok-won shook his head without a moment’s hesitation.

“I have no intention of selling my Netscape shares at least until the end of the year.”
“Is it because you’re concerned about negatively impacting the stock price?”
“No, it’s because if I hold onto them longer, I can sell them for much higher prices. I’m not in need of money, so there’s no reason to sell at a bargain price now.”

Landon, wondering if he’d misheard, asked cautiously.

“…Did you say bargain price?”
“Yes. Netscape’s stock price surge is only just beginning.”

Seok-won nodded firmly and replied with conviction.

“Before long, those who sold their shares now will be beating their chests in regret.”
“But that’s….”

The stock had already tripled from its offering price, and market chatter was turning to overheating. How could it possibly climb further?
Landon Shore couldn’t easily believe what he was hearing, even with his own ears.
Yet with Cisco—which Seok-won had picked—riding the internet wave just as Netscape was, its stock price climbing steeply and already yielding several times the initial investment, it was difficult to simply dismiss his words.
As Landon Shore wore a complicated expression, Seok-won spoke with conviction.

“In any case, I’m holding Netscape for the long term, so keep that in mind. And as I instructed last time, continue gradually accumulating shares in Intel, Deutsche Telekom, and AOL.”
“…Understood.”

Seok-won’s eyes fell upon the necktie around Landon Shore’s neck, and he asked lightly.

“Come to think of it, you’ve been wearing the same necktie for several days now.”
“Ah, yes.”

Landon Shore laughed awkwardly, looking embarrassed.

“Must be a favorite of yours?”
“It’s not that. I wore this necktie on the day Netscape went public, and we struck it big, didn’t we? So I’ve been wearing the same one every day since, hoping to keep the upward momentum going. It’s a kind of jinx, I suppose.”
“Ah, I see.”

Seok-won’s face broke into a subtly mischievous smile upon hearing this.

“But what if the stock price keeps rising without falling? You’ll have to wear only that one forever, won’t you?”
“I sincerely hope it turns out exactly as you say.”

But looking at Seok-won’s face, it didn’t seem like a joke—it seemed genuine.
A faint regret crept in, wondering if he’d brought up the subject unnecessarily, as he had a premonition that he’d be wearing this green necktie so often he’d grow sick of it.
After exchanging a few more words, Landon Shore left the room, and Seok-won picked up his teacup, only to set it back down upon noticing the coffee had gone cold.
At that moment, the vibration alert on his mobile phone sitting on the table rang out.

“Hello?”
[It’s me, Roy!]

At the familiar voice of his friend, Seok-won’s lips curved into a smile.

“What’s the occasion?”

With the phone pressed to his ear, he rose from his seat and walked toward the window overlooking the vast East River.

[I missed you, so I called. What kind of relationship do we have? Thicker than blood and deeper than the sea….]
“I’m hanging up.”
[Hey, wait!]

The guy who’d been spouting nonsense suddenly cried out in panic.

[Come on, can’t you take a joke!]
“My time is more precious than gold.”
[You’re no fun, as always.]

Roy grumbled that I’d never learned to play along properly, whether back then or now.
Hearing his familiar complaints after so long brought back memories of my university dormitory days, and I couldn’t help but smile softly.

“You’ve been so busy lately that you barely reach out, so what wind blew you my way today?”
[You’re in the United States right now, aren’t you?]
“Yeah. How did you know that?”
[Netscape went public on NASDAQ a few days ago. There’s no way you’d miss such an important event as an investor.]
“Surprisingly sharp of you. You’re right.”
[Then before you finish your business and head back to Korea, could you spare some time to meet me?]

I tilted my head with a puzzled expression.

“Meeting isn’t difficult, but why so suddenly? Is there something you need to discuss with me?”
[Ah, well….]

Roy hesitated for a moment, then cleared his throat with a soft cough.

[Remember last time when I said if I started a company, you’d look at the business idea and invest if it seemed promising?]

As he carefully broached the subject, I recalled that old conversation.

“That’s right. Don’t tell me you actually started a company?”
[Yeah.]

Hearing something I’d never anticipated, I felt slightly taken aback.
At the same time, I became curious about what kind of company Roy—who was every bit as talented with computers as Tom Harper—had founded.

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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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