Golden Spoon Investment Portfolio - Chapter 349

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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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349. Then wouldn’t it be even more necessary to avoid selling futures?

Outside Los Angeles, United States.
Under the scorching sun typical of an arid desert climate, a vintage red Chevrolet Camaro cruised along a desolate midday road.
Admont Jo, wearing a white t-shirt with a piercing through one eyebrow, pressed the back of his hand to his nose and inhaled cocaine.
The drug’s rush spread instantly, sharpening every sensation in his body to a razor’s edge.
Admont rubbed his nose vigorously with his other hand, then turned his head to look at the Hispanic man gripping the steering wheel and spoke.

“This stuff is incredible.”

The man with a marijuana cigarette in his mouth grinned, revealing yellowed teeth.

“Yeah. Just came in fresh from Mexico this time—the potency is no joke.”

His heart pounded as though it might burst at any moment, and he felt dopamine flooding through him.
Admont, riding high on euphoria, asked eagerly.

“How much longer until we get to where the girls are?”
“Just a little further now.”
“Step on it—I’m in a hurry.”

The man chuckled before speaking as if something had just occurred to him.

“By the way, I heard you caused quite a stir back in Korea. You good?”

Admont leaned back against the passenger seat and shrugged.

“If I wasn’t, I wouldn’t be here with you right now.”
“Fair point.”

Admont sniffled with a sharp intake of breath, his lips curling into a cruel smile.

“Those Korean bastards can’t touch me.”

The man glanced sideways at him.

“You’re quite confident. So you did that on purpose?”
“Of course! You think I’m an idiot?”

Admont Jo exclaimed with fresh irritation.

“Damn it. These weird bastards got in the way and ruined everything. What a mess.”
“Lunatic.”

The Unknown Photographer shook his head and muttered in disbelief when a sudden siren wailed from behind.
Glancing at the rearview mirror, the Unknown Photographer saw a police patrol car trailing behind and cursed with a frown.

“Damn it.”

He turned his head and frantically waved his hand at Admont Jo in the passenger seat.

“Hide the drugs where they can’t see!”
“Shit. This is ridiculous.”

Admont Jo glanced back, his face contorted as he hastily shoved the small plastic bag containing cocaine into the glove compartment.

“Why are those bastards following us! Did I run a red light or something?”
“I don’t know!”

The Unknown Photographer tossed the marijuana he’d been smoking out the window and, after confirming that Admont Jo had stashed the cocaine, slowly decelerated and pulled the car onto the shoulder.
The patrol car following behind came to a stop, and two officers emerged, approaching from both sides.
As a short-haired white officer approached, the Unknown Photographer, still seated at the wheel, rolled down the window and spoke.

“What’s the problem, officer?”

The officer, scrutinizing the Unknown Photographer and Admont Jo inside the car with sharp eyes, asked in an expressionless tone.

“This license plate has been reported as a stolen vehicle. Is this your car?”
“Of course it is.”

The Unknown Photographer answered with an incredulous smirk.

“I’ll need to see both of your licenses, so please take them out.”
“I’m telling you, it’s my car. Some asshole must be playing a prank.”

The man, deliberately making his complaint audible, pulled his wallet from his back pocket and produced his driver’s license.

“You as well, sir.”

At the officer’s request, Admont Jo reluctantly withdrew his identification and handed it over.
The officer examined the ID, and his expression darkened. He glanced at Admont Jo sitting in the passenger seat, then jerked his chin toward the door.

“Both of you, step out of the vehicle.”
“Why? Is there a problem?”
“It’s an order. Get out.”

At the officer’s blunt tone, the man had no choice but to open the door and step out.
As Admont Jo hesitated to exit, the Black officer on the opposite side tapped on the window with his hand, urging him along.

“Damn it.”

Reluctantly, Admont Jo muttered a quiet curse and climbed out of the car.

“Turn around and place both hands on the roof of the car.”
“Is this how police treat innocent citizens?”

Admont Jo shifted his weight to one leg and challenged the officer.

“Do as I say.”

But when the burly Black officer applied pressure with his body, Admont Jo, overwhelmed by the show of force, finally turned around.

“Damn.”

The Black officer ran his hands over various parts of Admont Jo’s body to confirm he carried no weapons, then produced handcuffs and fastened them around his wrists.

“What?! I didn’t do anything! Why are you doing this?!”

As Admont Jo thrashed and shouted, the Black officer pressed down hard on his shoulder and restrained him.

“Admont Jo, you are under emergency arrest on suspicion of attempted murder.”
“What?”

Admont Jo’s eyes widened, and with a demonic expression, he twisted his body and jerked his head backward.

“What the hell are you talking about, you bastards!”

Admont Jo’s mouth spewed curses, but the Black police officer warned him in a cold voice.

“If you don’t want to be charged with obstruction of justice, stay quiet.”

Meanwhile, his partner officer, who had been searching inside the car, discovered cocaine and a Beretta pistol hidden in the glove box and held them up in front of the handcuffed Admont Jo’s eyes.

“Interesting things you’ve been hiding.”
“Damn….”

Admont Jo’s face crumpled without mercy.

* * *

Late at night.
Seok-won stood before the floor-to-ceiling windows of the living room, gazing out at the night view of the city while speaking with Landon Shore in New York.

[… Both Admont Jo and Josie McDaniel were arrested by the LA Police this afternoon. In Admont Jo’s case, cocaine and illegal firearms were discovered during the arrest, so additional criminal charges are likely to be added.]
“Old habits die hard. There’s no way he’d behave himself after returning to the United States.”
[That’s true.]
“There’s no problem with both of them being prosecuted and tried in the United States, correct?”
[That’s right. The opposing counsel will certainly argue for dismissal of charges based on the principle of territoriality, but under the SOFA agreement, jurisdiction over both individuals as U.S. military family members rests with the U.S. courts.]
“If the LA Federal Court rules that it lacks prosecutorial authority, that would essentially negate the SOFA agreement itself.”
[You’ve grasped the exact point. That’s precisely why we’ve been lobbying Washington and the Pentagon through civic organizations.]

Seok-won nodded slightly.

“Since Landon Shore is a lawyer, you can probably guess. What kind of sentence do you think will be handed down?”
[Since they premeditated and attempted murder with a weapon, attempted murder charges will apply, and even as minors, they’ll receive sentences of at least ten years imprisonment. Moreover, Admont Jo has a history of being detained in a California juvenile detention facility for sixteen months last year, and this time he was caught with cocaine and illegal firearms as well. With enhanced sentencing, he’ll have to rot in prison for at least twenty years.]

It was insufficient punishment compared to the suffering the victim had endured, but at least it was far heavier than what would have been imposed if tried in Korea.

“Once a guilty verdict is rendered in the criminal trial, we’ll immediately proceed with the civil lawsuit.”
[Understood.]

Seok-won adjusted the phone in his hand and naturally transitioned to another topic.

“Let’s handle that matter as is. You’ve heard that Syed Malaysian Prime Minister stated in a press interview today that Malaysia could implement strong regulations or an outright ban on foreign exchange trading to counter currency speculators, haven’t you?”
[I knew the ringgit was plummeting and speculators were salivating, but I never imagined Malaysia would make such a bold move by restricting foreign exchange trading solely to trade payments.]
“Thanks to that, the dollar exchange rate skyrocketed and we profited from it.”
[That’s true.]

Landon Shore let out a soft chuckle.

[Watching the ringgit plummet to 5.1 per dollar in a single day, George Hamilton and Quantum Fund, who liquidated their positions first, must be feeling quite the sting right now.]

At that, Seok-won’s lips curled into a smirk as well.

“Being called a speculator and criminal by Syed Prime Minister while enduring all manner of harsh criticism, and then missing out on the opportunity for massive profits—that’s what he’s feeling.”
[While it’s hindsight, this situation seems to prove that our boss is more capable than George Hamilton, having held on even after Quantum Fund withdrew.]

Instead of answering, Seok-won asked with a faint smile playing at his lips.

“What’s the average cost basis on the ringgit?”
[We bet at 2.9 ringgit, with a total wager slightly exceeding 6.2 billion dollars.]
“Then our profit margin is roughly 76 percent.”
[That’s correct.]

After responding, Landon Shore whistled softly from the other end of the phone line.

[Roughly 4.6 billion dollars in profit—you’ve hit the jackpot again this time.]

Seok-won chuckled at the undisguised amazement in his tone and replied.

“We’ve made enough at this point, so let’s start winding down our positions gradually.”
[Understood.]

Since we’d already accumulated more than sufficient profits, Landon Shore agreed without hesitation.

“One more thing—if we liquidate too quickly all at once, the ringgit could suddenly rebound, so let’s unwind gradually and carefully.”
[Understood. What about the Thai baht and Indonesian rupiah?]
“Those still have further to fall, so we’ll keep holding them.”
[Understood.]

Seok-won, with one hand in his trouser pocket, outlined the next course of action.

“Let’s use the profits from this bet to short the December Dow futures.”
[You’re planning to short the New York Stock Exchange?]
“That’s right.”
[With the dot-com boom heating up the New York Stock Exchange like never before, isn’t shorting a bit reckless?]

Landon Shore, startled, voiced his opposition in an urgent tone, choosing his words carefully.

“I’m aware the New York Stock Exchange is strong. And I understand that this dot-com fever sweeping through right now is a historical trend that won’t die out easily.”
[Then isn’t it even more reason not to short the futures?]

Landon asked in a tone that conveyed complete bewilderment.
When a horse was galloping at full speed, it made no sense to jump off and bet against it—anyone would call it foolish.

“Even the strongest racehorse can’t run forever without rest, can it?”
[….]
“Moreover, considering how the global economy is now intricately interconnected unlike before, there’s no way America can remain unaffected by the chaos unfolding in Asia and enjoy prosperity in isolation.”
[…!]
“American companies operating in Asia are already seeing their earnings slow, suffering currency losses from dollar strength, and their exports are bound to decline.”

Landon let out a low exclamation and grasped what I was aiming for.

[Now that you mention it, that makes sense. For now, America is watching the fire from across the river, but eventually the sparks will inevitably reach American shores.]
“Stock prices have risen significantly due to the dot-com boom so far. Once investors realize that, they’ll rush to lock in profits and convert them to cash.”
[So once selling begins on one side, it will trigger a flood of selling, is that what you’re saying?]

Seok-won smiled slightly, as if praising his quick understanding.

“Exactly. As long as the dot-com fever persists, the decline won’t last long, but given how much it’s risen, the fall will be steep and sharp.”
[I understand what you’re saying. So you’re shorting with futures and planning to exit quickly before the Dow bounces back after the crash.]

Seok-won smiled with satisfaction, seeing that after all these years together, he grasped my intentions precisely.

“That’s right.”
[I’ll proceed with shorting the Dow futures as you’ve instructed. What about the principal?]
“Keep it as is. We’ll need to deploy it when the Quantum Fund begins its attack on Hong Kong.”
[Understood.]

After issuing a few more instructions and ending the call, Seok-won gazed at the beautiful night cityscape visible beyond the glass window and spoke softly.

“Since I’ll need to return the money Father entrusted to me when the IMF crisis hits in a few months, I can’t tie it up for long. I’ll have to put it into short-selling Dow futures—something that can generate returns quickly.”

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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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