Golden Spoon Investment Portfolio - Chapter 326

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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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326. We’ll need to use a lot of dollars later on.

As news of Thailand’s government surrender reached Wall Street in the early morning hours, the hedge funds erupted in cheers and raised their glasses in victory.
Eldorado Fund was no exception—having reaped enormous profits from their baht investments, the entire office buzzed with jubilation and excitement.

“Good morning!”
“Good morning.”

Jung Hwan-yeop set his briefcase on the desk and flashed a grin at Choi Ho-geun, who had arrived with him, taking in the electric atmosphere of the office.

“Wow, the whole place feels like a festival.”

Choi Ho-geun shrugged off his jacket and draped it over his chair with a casual remark.

“We just crushed Thailand in a massive bet and walked away with an astronomical haul. Wouldn’t you be celebrating?”
“Fair point.”

Jung Hwan-yeop scratched the back of his head with an embarrassed smile.

“According to the news, the hedge funds’ assault cost Thailand over twenty billion dollars in losses, didn’t it?”

Hong Jae-hee, who had entered alongside Yu Seok-hyun, took her seat and joined the conversation.
A glittering brooch adorned her chest—a piece she had splurged on recently at Madison Avenue, the famous stretch lined with luxury boutiques and designer shops.
The design featured overlapping delicate flowers studded with pearls and small diamonds, creating an elegant yet charming look that suited Hong Jae-hee perfectly.
Choi Ho-geun lifted his gaze toward the large market ticker mounted on the opposite wall.

[THB : 33.05 (
5.35)]

The exchange rate had already plummeted another baht since he’d checked the early morning report.
Watching the baht in free fall, Choi Ho-geun couldn’t help but marvel once more at the relentless collapse.
He turned to address his subordinates.

“When you add in the dollars spent by the three Southeast Asian central banks that coordinated with Thailand to defend the baht, the total losses will be far greater.”
“Didn’t they say those three countries spent over twelve billion dollars in foreign currency?”

Jung Hwan-yeop quickly picked up the thread, and Choi Ho-geun nodded in agreement.

“That’s what I heard too.”
“It’s not even won—billions and tens of billions of dollars just casually appearing out of nowhere. It feels like a completely different world. Even as I’m talking about it, I can’t feel the reality of it.”

Yu Seok-hyun let out a hollow laugh, shaking his head.

“Right? Me too. When I see something like this, all the trades we’ve been doing in Yeouido feel like child’s play.”

Jung Hwan-yeop rested his interlaced hands against the back of his head and spoke with a note of complaint in his voice.
Under normal circumstances, Choi Ho-geun would have made a cutting remark, but he harbored similar feelings, so no words came to his lips.
Instead, he gazed across the expansive Trading Floor with eyes clouded by conflicting emotions, watching it bustle with vitality even now.
Just then, Hong Jae-hee glanced around at the others with a curious expression and asked.

“How much did the Eldorado Fund make from this bet?”
“I’m not sure of the exact amount, but from what I’ve observed, it looks like they bet over 10 billion dollars. Isn’t that right?”

Jung Hwan-yeop looked toward Choi Ho-geun as if seeking confirmation.

“That sounds about right.”
“Wow. 10 billion dollars. Even after saying it myself, my jaw won’t close at that figure. How much would that be in Korean won?”

Yu Seok-hyun quickly did the mental calculation and answered.

“When I checked yesterday, the dollar-won exchange rate was 840 won, so… Wow. That’s 8.4 trillion won.”
“What?”

Jung Hwan-yeop’s expression showed such shock that he looked ready to tumble out of his chair.

“8 trillion? Not billion—trillion? This is absolutely insane!”

Hong Jae-hee also gasped, her eyes widening in astonishment.

“So even with just a 10% profit margin, they made 840 billion won from this single bet?”
“Sigh… This is on a completely different level. Isn’t it, Manager?”

Jung Hwan-yeop shook his head in disbelief, as if utterly overwhelmed.
As Choi Ho-geun simply offered a bitter smile in silence, Jung Hwan-yeop glanced at the baht exchange rate displayed on the large market board and asked cautiously.

“The profit margin must have exceeded 10%, right?”

Choi Ho-geun shrugged and replied.

“I don’t know either. But since I started shorting when the dollar was at 24 baht, my average cost shouldn’t exceed 26 baht no matter how high I estimate it.”
“The exchange rate has already surpassed 33 baht now. Phew.”

The profits were so staggering that all four of us were too stunned to speak.
Even Jung Hwan-yeop, who looked like he’d be floating face-down in water, was just exhaling in disbelief—the shock was tremendous.
That’s when Mason arrived in a white dress shirt and a purple luxury tie, smiling as he approached and greeted us.

“What are you all up to?”

Choi Ho-geun made eye contact and replied.

“We were just discussing the baht situation.”
“Ah, that. Quite a thrilling round, wasn’t it? Don’t you think?”

Mason flashed a smirk, pulling one corner of his mouth upward.
Jung Hwan-yeop matched his energy, giving a thumbs up and praising him as the best.

“It was truly amazing! Now I understand why Mason said it would be entertaining to watch.”
“Thailand put up quite a stubborn resistance, but once Wall Street hedge funds set their sights on a target, the outcome is essentially predetermined.”

Mason chuckled, subtly revealing his arrogance.
Though it was slightly irritating, the results had already proven him right, so Choi Ho-geun swallowed the bitter taste inwardly.

“By the way, I heard you’re heading back to Korea next week. Is that right?”
“I was actually planning to mention it. I’ll be leaving by Wednesday and returning home.”
“We’ve grown quite close during this time. It’s a shame to see you go.”

Mason wore a regretful expression, and Choi Ho-geun smiled in response.

“We feel the same way. Thank you for helping us so much during the training.”
“I’ve enjoyed getting to know all four of you too. How about we have a drink together before you leave?”

Jung Hwan-yeop jumped in as if he’d been waiting for this.

“That’s a great idea! I’ll make you a proper Korean bomb shot—the one we showed you last time. You should look forward to it.”
“Ah, the Korean cocktail! That was absolutely incredible. You have to teach me how to make it before I go.”
“To make a proper tornado shot, the wrist snap is crucial. Mastering this isn’t easy, you know? Here, like this.”

Jung Hwan-yeop made a show of swirling an imaginary glass in the air, and Mason awkwardly mimicked the gesture.

“Like this?”
“No. No! You need more snap—swirl it vigorously in circles, then slam it down on the table with enough force to keep the glass intact. The real trick is throwing the tissue covering the glass so it sticks to the ceiling.”
“Oh! Okay. Okay. I got it.”

Mason diligently rotated his wrist, mimicking the motions Jung Hwan-yeop had demonstrated.

“So the great lesson we’re imparting is how to make a bomb shot.”

Choi Ho-geun let out a groan of disbelief, pressing his forehead with his hand at the absurd spectacle.
Watching Yu Seok-hyun and Hong Jae-hee giggle beside him, it was clear they’d all been corrupted by bad influences.
Turning his gaze, Choi Ho-geun looked out at the bustling Trading Floor with a wistful expression.
His stay had stretched far longer than originally planned, but he’d learned and witnessed so much in the meantime.
It seemed these memories would linger in his mind for quite some time after returning to Korea.

***

“Just as you predicted, boss—with Thailand collapsing, the Philippines is now showing signs of severe instability.”

Seok-won, seated on the spacious sofa in the Executive Office, set down his teacup before speaking.

“The Philippine Central Bank has doubled the short-term interest rate it lends to commercial banks from 12% to 25%, I hear.”

Landon Shore smiled and picked up the thread.

“Yes. It appears they’ve moved preemptively to stem the exodus of foreign investors and attract additional capital inflows.”
“They moved quickly enough, but it’s unlikely to be very effective.”

Seok-won spoke with a skeptical tone.
Andrew, sporting his trademark suspenders over his white shirt, nodded in agreement and continued.

“High interest rates won’t matter if hedge funds attack and the Philippine economy crumbles, devaluing the peso. If I were them, I’d pull my money out immediately.”
“Exactly. No matter how much interest they earn, if the peso depreciates, foreign investors would have to convert their investments back to dollars to withdraw—and they’d lose everything to currency losses. That’s too risky.”

Andrew nodded, adjusting his glasses with one hand.

“If the Philippine government abandons the fixed exchange rate like Thailand did, it would be a disaster. Foreign investors would scramble even harder to escape before that happens. Then, contrary to the government’s wishes, dollar outflows would accelerate dramatically.”

Landon, who had been listening to the explanation, looked at him with a newfound expression of admiration.

“If foreign exchange reserves continue to decline at that rate, then just as you predicted, the hedge funds that profited handsomely from toppling Thailand will naturally set their sights on the Philippines as their next target.”

Andrew too marveled at Seok-won’s foresight—seeing several moves ahead even before Thailand had raised the white flag.
Yet he himself, crossing one leg casually as if it were nothing remarkable, leaned back and spoke with measured calm.

“Contrary to the Philippine government’s intentions, this measure will only increase the interest rate burden on commercial banks and corporations, sending an already fragile economy into a steeper nosedive.”

Andrew then pulled himself forward in his seat and asked.

“Since it’s now virtually certain that the Philippines will be next, shall we begin shorting the peso immediately?”

Seok-won nodded without hesitation.

“Moving ahead of others means proportionally greater profits. Let’s do it.”
“Understood. How much should we wager?”
“We have 12 billion dollars in baht shorts, correct?”
“That’s correct.”

Seok-won lowered his gaze briefly in thought before answering.

“The Philippines should be easier than Thailand, so let’s keep it light—just 3 billion dollars.”

Landon then offered his opinion with a hint of reluctance.

“We still have plenty of available capital remaining. Wouldn’t it be prudent to wager a bit more?”

Andrew seemed to share the sentiment and glanced at him, but Seok-won shook his head.

“We could, but the Philippines won’t yield the same returns as Thailand.”

Seeing the puzzled expressions on both their faces, Seok-won explained his reasoning.

“As you both know, the Philippines is already under International Monetary Fund management.”

Landon immediately grasped the implication.

“So you’re saying the International Monetary Fund will intervene immediately if the situation deteriorates.”
“Exactly. Unlike Thailand, the Philippine government won’t face much resistance to reaching out to the International Monetary Fund. It’ll be an easier choice for them.”

Andrew considered this for a moment before nodding in agreement.

“Now that you mention it, that does seem quite plausible.”

Landon Shore, who had been excited about landing another major blow, deflated just as quickly and smacked his lips in disappointment.

“If the International Monetary Fund gets involved, the peso will stabilize rather swiftly, won’t it?”

Seok-won’s lips curved into a thick smile as he observed Landon Shore’s reluctant expression.

“Even if the Philippines overcomes the crisis, we can simply compensate with other countries. No need to feel disappointed.”

Andrew’s eyes gleamed behind his glasses.

“Malaysia, Hong Kong, and Singapore are all lined up waiting their turn. One country like the Philippines is nothing to worry about.”

“Heh heh. We’re going to be quite busy for a while.”

Landon Shore quickly regained his spirits, rubbing his palms together with renewed anticipation.

“Once the peso collapses, the Thai baht will be affected and continue weakening. Let’s maintain our positions for now.”
“Understood.”

Andrew responded immediately.

“I trust you two to manage the situation well even while I’m away. And if anything changes, contact me right away.”
“Don’t worry. You’ve laid out the entire game for us—if we can’t execute it properly, we deserve to lose our positions.”
“We’ll do our utmost to ensure you have no regrets.”

Both Landon Shore’s hearty laugh and Andrew’s response filled them with confidence.
Seok-won, observing the two of them, suddenly remembered something and turned his gaze toward Landon Shore with a question.

“Right. And what about that matter I asked you to look into?”
“You mean the stock-backed loan, sir?”
“Yes.”
“Since you hold high-value stocks like Cisco, Microsoft, and Yahoo, there’s no problem obtaining a collateral loan.”
“How much can we borrow?”
“They said they’d go up to 60% of the equity valuation, so we should be able to comfortably borrow around 20 billion dollars.”

Andrew glanced around cautiously before asking.

“The fund account still has plenty of cash on hand. Why would you need a stock-backed loan?”

Landon Shore’s expression showed he was curious about the same thing.
Seok-won looked at the two men with a meaningful expression and opened his mouth to answer.

“Because I’ll need to spend a lot of dollars later.”

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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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