Golden Spoon Investment Portfolio - Chapter 26

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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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26. I’ll be able to spend the end of the year without a care in the world.

Boston Logan International Airport.
A taxi pulled up in front of the international terminal, snow that had fallen throughout the night piled thick in every corner.
The rear door opened, and I stepped out of the taxi, wrapped in a black long coat and scarf.
After retrieving a large travel suitcase and Boston bag from the trunk, I exhaled white breath as I made my way toward the crowded international terminal.
As I passed through the automatic doors and entered the interior, the first thing that caught my eye was the enormous Christmas tree installed in the center of the vast lobby.
The massive tree, erected to a height of two stories, was lavishly decorated with lights and various ornaments, exuding a distinctly festive atmosphere.
With the Christmas holidays approaching, the terminal was so packed with people heading home to see family or departing on vacations that there was barely room to stand.
Especially since Boston was famous as an education hub, there were many students returning home for their break, making the airport even more congested.
I too was on my way back to Korea after completing the semester.

“Good thing I came out early. I almost had a real problem on my hands.”

Muttering to myself as I observed the crowds filling the lobby, I unwound the scarf that had become unnecessary due to the warm indoor temperature and wrapped it around my hand.
Rolling my suitcase and weaving through the crowd, I found the Delta Airlines counter where I had booked my ticket, only to sigh upon seeing a line that stretched far longer than expected.
Although the airline had opened three counters to accommodate the holiday period, there were so many passengers with reservations that the line showed no sign of diminishing.
At least I had come out three hours earlier than scheduled—otherwise, I might not have been able to catch the flight.

“When am I ever going to get through all this?”

I watched the line continue to grow, my eyes growing weary.
But since there was no other way to return to Korea, I resigned myself to the situation and went to stand at the very back of the line.

“If this investment succeeds, I’ll have to buy a private jet before I even think about a building.”

I muttered this with half-genuine conviction.
After waiting tediously for over thirty minutes, my turn finally came.
The airline attendant, looking just as exhausted as the passengers from handling the incredibly busy holiday period, regarded me with a businesslike demeanor.

“How may I help you?”
“I have a ticket reservation.”
“May I see your reservation number and identification?”
“It’s C2315.”

I handed over my passport as I spoke.
The attendant tapped on the terminal to look it up, and after confirming my name on the reservation list, she spoke.

“You’ve booked a one-way ticket to Seoul via Falkland for one passenger, correct?”
“Yes.”

At this point in time, direct flights to Korea were virtually nonexistent, so traveling to Seoul required departing from major airports like New York, Los Angeles, or Atlanta and changing planes.

“Do you have any checked baggage?”
“Just one carry-on.”

I pointed to the carry-on I’d placed beside me.

“Understood. Please place it on the scale so we can weigh it.”

I lifted the heavy carry-on and placed it on the scale as the female agent instructed, then waited.

“Okay, you’re all set. There’s no additional baggage fee.”

The female agent quickly affixed a tag to the carry-on handle, and the male agent behind the counter took it and placed it on the baggage conveyor.

“Since you’re connecting, you have two tickets. Please confirm. Board at gate 8 at 1:20 PM.”

The female agent handed back my tickets and passport, then turned her attention to the next passenger with a gesture.

“Next, please step forward.”

I slipped the tickets between the pages of my passport and tucked them into my inner pocket, then picked up my Boston bag for the flight and stepped aside.
The line in front of the Delta Airlines counter had already stretched all the way to the end.
Seeing it had grown more than twice as long as when I first arrived, I shook my head and rolled up my sleeve to check my watch.

“I still have about two hours. Might as well grab something to eat.”

I headed toward the restaurants, but every place I passed was packed with people, making it impossible to even consider entering.
I eventually went into a café, grabbed an Americano to go, and continued searching for a place to sit while sipping it.
Had there been an empty seat, I would have lingered in the café, but everyone else had the same idea—every table was full.
As my Americano cooled to half-temperature, I wandered through the airport until I spotted a couple getting up, presumably heading to their gate, and quickly claimed their seat.
The long, bench-style plastic chairs were hard and nowhere near as comfortable as a sofa, but it was far better than standing.

“And I haven’t even boarded yet, but I’m already exhausted.”

I had booked business class, which at least offered more space, and I was scheduled to upgrade to first class when I connected in Atlanta, but even so, nearly twenty hours in the air was going to be grueling.

“I really should buy a private jet.”

With the constant back-and-forth between Korea and the United States ahead of me, the thought of enduring this ordeal every time already gave me a headache.
As I turned my head while seriously contemplating the matter, I noticed a newspaper wedged into the corner of a bench—apparently left behind by someone.

[AT&T-NCR Merger Raises Consumer Harm Concerns!]

The eye-catching headline drew me in, and I picked up the newspaper and unfolded it.

[Recently, AT&T, North America’s largest telecommunications provider, announced plans to acquire NCR, a computer manufacturing company, for a total of 8 billion dollars, generating considerable buzz.
While Wall Street enthusiastically celebrates this year’s largest M&A deal, some quarters have expressed concerns that this transaction could harm consumers.
If AT&T, the telecommunications giant, acquires NCR, it would immediately command 35% market share in the computer sector, potentially stifling competition.
Indeed, other computer manufacturers are showing signs of nervousness at AT&T’s declaration of entry, backed by formidable capital.
Experts too have voiced negative opinions, warning that if AT&T leverages its abundant financial resources to dominate the rapidly growing computer market and establish a monopolistic position, consumer choice would be restricted and prices could rise.
Particularly concerning is AT&T’s history in the telecommunications market, where it starkly demonstrated the many ills of monopoly and was forcibly broken up, amplifying current anxieties.
In response, the Federal Trade Commission (FTC) announced it would carefully scrutinize this transaction for any violations of antitrust law to ensure consumers suffer no harm.
However….]

After reading the article, a faint smile crossed my lips.

“It’s unfolding exactly as expected.”

Following the acquisition announcement, NCR’s stock price skyrocketed to the acquisition price of $105 per share in just two days.
It didn’t stop there—the price continued climbing, approaching $110, showing signs of overheating.

“Up to $105 is the acquisition price, but surpassing that is clearly overshooting.”

Anyone with a moment’s thought could see it had risen too far, yet no one cared.

“As long as I’m not the one holding the bag at the peak, that’s all that matters.”

In essence, investors were playing hot potato within the market.

“Besides, even if I’m unlucky enough to get stuck with shares, I can always sell them to AT&T at $105 minimum. That’s why they pushed the price up so aggressively.”

But as with all things, there comes an end—and once articles and opinions questioning this M&A began appearing one after another, NCR’s stock price, which had soared to $110, hit its peak and plummeted just as dramatically.

“Only then did everyone realize they’d gone too far.”

Once selling pressure emerged, it cascaded like a broken dam—a torrent of panic selling flooded the market.
As NCR’s stock price crumbled, it plunged below $100 per share, falling beneath the acquisition price in mere moments, proving once again that the market was nothing but psychology.

“You know, watching something like this really shows how fascinating the market can be.”

Just then, a familiar ringtone chimed.
I set down the newspaper beside me and retrieved my phone from my Boston bag to answer the call.

“Hello.”
[Boss, it’s me.]

At the sound of Landon Shore’s voice, I leaned back against the bench and spoke.

“What’s the matter?”
[Fortunately, it seems you haven’t boarded your flight yet.]

I sipped my Americano, which had grown cold and tasted only of bitterness, while gazing at the large electronic clock mounted on the airport wall.

“I’ll be boarding in about an hour. Is there something you need to tell me?”
[I have some good news to share before you depart.]
“What is it?”
[We’ve just completed the acquisition of our target volume of NCR shares.]

At those words, my eyes gleamed with intrigue.

“Really?”
[Haha, yes indeed.]

Landon Shore’s voice carried unmistakable satisfaction.

“What’s our average acquisition price?”
[Sixty-eight dollars.]

Despite the adverse development of the M&A announcement causing the stock price to surge during our accumulation phase, we had managed to achieve an average price below our initial target of $70—a feat I found genuinely impressive.

“I expected it would be difficult to hit our target price. Excellent work.”
[We secured 80% of our target shares before the M&A announcement was released, and Andrew’s suggestion to sell portions of our holdings at the stock’s peak helped us lock in gains that significantly lowered our average acquisition cost.]

When the market sentiment overheated and NCR’s stock price surged above the acquisition price, Andrew had proposed selling some of our accumulated shares.

‘Even if the stock price doesn’t fall as much as I’d like, selling it above AT&T’s acquisition price means we still profit. There’s no reason to refuse.’

Once he gave his approval, Andrew immediately sold millions of shares near their peak, reaping substantial gains.
Then, as M&A concerns and profit-taking sales flooded the market, he demonstrated remarkable acumen by swiftly pivoting back to accumulation as the stock price collapsed.

“It’s ordinarily quite difficult to accumulate large volumes of stock without driving the price up dramatically, yet watching Andrew execute this so deftly reveals his true caliber.”
[That’s right. I’ve marveled at his work multiple times while observing this operation from the sidelines.]

Landon Shore agreed wholeheartedly with his assessment.

“For work this well done, I should ensure a generous bonus comes his way later.”
[Andrew’s trading team members will be absolutely delighted to hear that.]
“Landon Shore is also anticipating a bonus.”
[Then I’ll accept it graciously without hesitation.]

As Landon Shore played along with considerable cheek, I let out a quiet laugh.
Then, adjusting my grip on the phone in my hand, I continued the conversation.

“What’s the NCR stock price at now?”
[It dropped to seventy dollars, but after we accumulated our stake and the short-selling hedge funds liquidated their positions, it’s rebounded and now fluctuates in the hundred-dollar range.]

While profit-taking sales did flood the market, once the NCR stock price exceeded the acquisition price, hedge funds swiftly shorted massively, amplifying the crash even further.

“We’ve hit our targets, so now we just need the merger approval to come through.”

Then Landon Shore asked with a note of concern in his voice.

[Surely the Federal Trade Commission won’t block the merger, will they?]
“That won’t happen, so don’t worry.”

I spoke with absolute certainty.

“There’s nothing particularly problematic about it, and if things get messy, the Federal Trade Commission will find themselves in an awkward position too. The decision should come within one to two months at the earliest.”
[Then we couldn’t ask for anything better.]

Landon Shore still seemed somewhat anxious, but from my perspective—knowing the future—his concerns were entirely unnecessary.

“From here on, all we can do is wait, so let’s all set work aside and enjoy the Christmas break.”
[Understood, boss. Have a wonderful time yourself.]
“Then I’ll see you after the new year.”

After ending the call, I slipped my phone into my Boston bag.
A satisfied smile crossed my face—Andrew’s trading team had exceeded my expectations.
Beyond that, I felt even better knowing I’d cleanly wrapped up the share acquisition before returning home and could now enjoy the year-end holidays with a clear conscience.

“Now I can spend the holidays without a care in the world.”

I folded the newspaper beside me and tossed it into the nearby trash bin.

[Boarding procedures for Gate 8 have begun. Passengers boarding Delta Airlines Flight to Falkland, please proceed to the gate. Repeating, at Gate 8….]

“Well then, shall we go?”

At last, it was time to return to Korea.

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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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