New Employees With an Annual Salary of 1 Trillion Won - Chapter 49
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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Chapter 49. Giant Killing (4)
The empty Cali Fund Korea Office.
Without a single staff member, only a padlock was firmly guarding the office.
“They must have already returned to the United States.”
“Is it possible to leave the country already when the market just closed?”
“If an emergency return order came from headquarters, it’s definitely possible. I should have contacted them in advance if I knew this would happen.”
We visited the Cali Fund Korea Office without notice.
That way we could see CEO Oh Chang-jin’s flustered expression in all its glory.
“The damage must have been significant. Well, they did pour enormous funds into trying to reverse the stock prices for several days.”
“The serious thing is it’s not just Cali Fund. Many funds and financial companies on Wall Street also suffered astronomical losses from this incident.”
“Then Tiger Fund is the only one that benefited.”
I stated the obvious.
Since we were the ones who made the biggest profit in this round.
But the Branch Manager’s face wasn’t very bright.
“To be precise, only Tiger Fund Korea Branch made a profit.”
“Aren’t they the same group anyway?”
“They’re the same yet different. Tiger Fund Headquarters probably isn’t in a different situation from the rest of Wall Street.”
“Still, since the Korea Branch made enormous profits, wouldn’t that compensate to some extent?”
The Korea Branch had recorded a profit of 2.5 billion dollars in a single day.
No matter how much loss headquarters suffered, I thought this amount could cover quite a bit.
“We’ll have to go there directly to confirm that. Let’s go to the United States together tomorrow.”
“Tomorrow right away?”
“I mentioned a business trip to the US before, right? That looks like it’ll be tomorrow. There’s nothing to prepare, just bring yourself.”
“We still have short selling positions remaining, will that be okay?”
“Of course we have to close them before going. Let’s go to the office.”
We returned to the fund office again.
The Branch Manager called over Song Sang-yeon, who was busy with cleanup work.
“Let’s close all short selling positions now.”
“Already? There’s still the interest rate hike issue remaining, so the downward trend could continue further, couldn’t it?”
“Let’s not be greedy. No one knows how the market will move tomorrow. It’s more comfortable to close them now.”
I couldn’t readily understand what the Branch Manager was saying.
Of course, it wasn’t that the Branch Manager’s opinion was wrong.
I understood that since MicroStrategy’s cogwheel had collapsed, we should realize profits, but the market was already closed.
“Is it possible to liquidate now?”
“Since it’s a short selling position, we can actually liquidate more easily. Of course, if there are buyers.”
“Isn’t liquidation only possible when the market opens?”
“We can transfer our position to another party. Through OTC stock lending position transfer method. It’s similar to a block deal.”
When he mentioned block deal, I understood.
We had transferred Saera Technology stocks to Cali Fund through after-hours trading before.
“This method is possible because we proceeded through a Prime Broker. Since the Prime Broker acts as an intermediary, position transfer is possible even without the market opening.”
“You mean we transfer our position as-is to other Market Forces or funds.”
“It’s not just transferring. If we do it well, we can even add a premium when transferring. Let me show you now.”
The Branch Manager switched the office phone to speakerphone and called the Prime Broker.
I heard that voice I had hated hearing just a few hours ago.
“This is Branch Manager Mike from Tiger Fund Korea Branch.”
[Congratulations! In my 10 years as a broker, this is the first miracle I’ve witnessed.]
“We rode a roller coaster from hell to heaven.”
The broker’s voice had been mechanical when making the liquidation guidance call.
But now he congratulated the Branch Manager with a voice full of intense emotion.
[Thanks to you, Branch Manager, we’re flooded with short selling inquiries. Small funds and Market Forces are showing great interest in technology stock short selling.]
“We’re thinking of gradually pulling out now. We’ve already realized excess profits, and the interest burden isn’t light either.”
[That’s an excellent decision. You don’t know how anxious I was. But don’t you find it a bit regrettable?]
The broker’s words were contradictory.
Saying it was excellent, then asking if it wasn’t regrettable.
Speaking with a forked tongue showed just how tremendous the results were.
“Since it’s regrettable, we can’t sell to the market, so we’re trying to transfer the position for a premium.”
[You mean the entire position? Other stocks aside, MicroStrategy still has significant downside potential.]
“That’s why we’re trying to bundle it with other stocks. That way buyers will attach faster, won’t they?”
[I understand what you mean.]
A bait product or bundled product.
Other stocks had potential for rebounds, but MicroStrategy, which had accounting manipulation issues explode, faced inevitable further decline.
So the strategy was to bundle the entire position together and transfer it at a high price.
“I’d like to find buyers within today, is that possible?”
[Of course it’s possible. There are many who covet MicroStrategy positions.]
“There’s one more thing. We also have positions through other prime brokers, and I’d like to bundle all that volume together for transfer.”
It was the Branch Manager’s decision to finish the troublesome matter all at once, and the Broker readily accepted.
[Originally this would be a difficult request, but I’ll make an exception this time. Just give me the other Broker information and I’ll coordinate.]
“You can split the buyers into multiple parties. But there’s one condition – you must transfer everything bundled together with all stocks.”
[Understood. I’ll rush as much as possible to complete it within today.]
The Prime Broker hung up the phone with a bright voice.
The bright voice didn’t come out simply because he was congratulating the Branch Manager’s success.
“Thanks to the Branch Manager, the PB will also collect a lot of commission fees.”
“Short Selling contract fees, transfer contract fees. They’ll earn double, so how good must they feel?”
“No wonder their voice was so bright.”
“There aren’t many people who would be that happy about someone else’s business. Especially not in the Financial Industry.”
I felt once again that the Financial Industry was ruthless and merciless.
And that atmosphere didn’t feel entirely bad to me.
Rather, it was an atmosphere that suited me better than an emotional one.
“But is there anyone who would buy a position worth 8.8 billion Dollars?”
“The volume is large, but considering all of Wall Street, it’s about one meal’s worth.”
“But if the Stock Price rebounds after we hand it over, won’t they hold us responsible? Like blaming the Restaurant after eating spoiled food.”
“Here, everyone takes responsibility for themselves. Not being able to distinguish between spoiled food and good food is your own responsibility.”
The Branch Manager’s words were firm, and I just nodded.
A few minutes later, the Prime Broker delivered real-time updates to Song Sang-yeon, who summarized the content and informed us.
“Branch Manager, they say 30% of the total volume has already been transferred. The rest should be finished soon.”
“There are quite a few Funds targeting Short Selling volume.”
“The profit rate the Branch Manager achieved has already spread throughout Wall Street. Just today, I received over 100 congratulatory messages disguised as confirmation texts.”
Song Sang-yeon showed us a few texts and laughed.
The messages sent by contacts from all over Wall Street were all praising the Branch Manager without exception.
“Anyway, Wall Street is full of people with loose lips.”
“Isn’t it the place where rumors spread fastest in the world? Thanks to that, Funds and Market Forces interested in Short Selling volume are rapidly increasing.”
“At this rate, we can wrap things up and wash our hands of it today.”
8.8 billion dollars.
A short selling position approaching 10 trillion won was quickly sold off.
“I’ve heard that all the money in the world flows to Wall Street, but I never imagined that 10 trillion won worth of volume would sell off this quickly.”
“Wall Street doesn’t just pile up cash either. The people who bought our volume probably used leverage to purchase it. Of course, 10x like us would be difficult, but 3-5x is definitely possible.”
All positions were cleared within a few hours.
A call came from the Broker for final confirmation.
[We’ve transferred all positions. The total amount is 2.868 billion dollars.]
“The borrowing fees, brokerage fees, and position transfer fees are all deducted amounts, right?”
[That’s correct. And we managed to get an additional 4% premium, so 350 million dollars has been added to that amount.]
“It was cleared quickly. This is why we work with Prime Brokers. Thank you for your hard work.”
[Thanks to you, Branch Manager, I’ll be able to spend this summer at a nice resort.]
350 million dollars just from the premium alone.
It meant that many funds and Market Forces were coveting the short selling volume, competing with each other and driving up the premium.
“I’ll contact you again when another good investment opportunity comes up.”
[If it’s a call from you, Branch Manager, I’ll take it even on Christmas Eve. Even if I’m diving underwater, I’ll definitely answer!]
After the call ended, the profits were deposited into the Tiger Fund Korea Branch Account.
“Branch Manager, 2.868 billion dollars has been deposited.”
“Accurate. Phew, now I can finally rest a bit.”
“You really worked hard.”
“600 million dollars grew to 2.8 billion dollars, so what’s there to be tired about? I wish every day could be like today.”
It was still too early to rest.
Since we had pulled money from various places, we needed to settle the principal and interest to know the pure profit.
“Branch Manager, I’ll start by settling the Funds we borrowed from Hong Kong and Cali Fund.”
“We need to settle as quickly as possible to reduce interest losses. Process it right now. But Oh Chang-jin isn’t answering his phone – will the Cali Fund side be okay?”
“If we can’t reach him, I’ll settle through Cali Fund Headquarters.”
Song Sang-yeon quickly settled the principal and interest.
Enormous amounts instantly flowed out of the Account.
“Settlement complete. We paid Hong Kong 200 million dollars in principal and 1.4 million dollars in interest, Cali Fund 160 million dollars in principal, and the Prime Broker 200 million dollars in principal and 1 million dollars in interest.”
“2.4 million dollars just in interest. That’s quite a lot for borrowing just a few days.”
“It was all high-interest short-term Funds, so it couldn’t be helped.”
A whopping 2.7 billion won had gone out as interest.
For me, it was money that felt like a waste, but the Branch Manager showed no sign of regret.
“Without those funds, today’s victory wouldn’t have been possible. So let’s not think of the interest as a waste.”
“Still, the premium profits alone are more than enough to cover the interest. The pure profit excluding principal and interest is 2.305.6 million dollars.”
“Everyone worked hard. And Employee Lee, please endure just a little more. You need to go to Tiger Fund Headquarters tomorrow, so please prepare.”
I really had to go to the United States tomorrow.
The Branch Manager’s drive was beyond what I could dare to follow.
I had been to the United States once before, but America was still a distant country to me.
And the sudden schedule disrupted my routine, which made me feel resistant, but it was an unavoidable situation.
“Do I really just need to bring myself?”
“Think of it as going on a domestic business trip and pack light. The Korea Branch will take care of everything else.”
***
I couldn’t remember how long it had been since I came home this early.
For several days, I had been so absorbed in the breathtaking short selling war that I didn’t even have time to stop by home.
“Son, you’re home? It’s been hard to see your face lately. Are all the urgent matters finished now?”
“The urgent things are wrapped up. But there are still some things to sort out… I have to go on a business trip to the United States tomorrow.”
“A business trip to the United States? So suddenly?”
“It just turned out that way.”
“When you go to the United States again, you’ll have to eat only greasy food. Wait a moment. I’ll make you some soybean paste stew.”
I coated my stomach in advance with the savory soybean paste stew.
Meanwhile, my younger brother came home soaked in sweat, sat next to me, and started speaking while fidgeting.
“Older Brother, you’re going to the United States again tomorrow?”
“Do you need anything? Should I buy you another baseball glove?”
“American-made equipment suits me well. The competitions start in earnest from April, so I was wondering if you could get some before then.”
Watching my younger brother fidget was disgusting.
If he stalled a little longer, sweat would start dripping from his clothes.
“Make a list of the items you need by tomorrow morning and leave it out. I’ll buy everything I can get.”
“Really? I’ll definitely succeed and pay you back later!”
“But there’s nothing unusual with the baseball club lately, right? No strange demands from the coach or the parent association?”
I lowered my voice in case Mother might hear.
“Strangely, nothing bad happened. Maybe it’s because the sponsorship is coming in strong?”
“What sponsorship?”
“The sponsorship coming from Older Brother’s company is no joke. This time they replaced all the fitness equipment with the latest models, and even installed new practice field lighting.”
Without my knowledge, the Branch Manager had been taking care of Younger Brother.
He wasn’t simply providing money, but supporting the parts that the baseball club truly needed.
“Our company is pretty generous. But can you pass the preliminaries this time?”
“The atmosphere completely changed after we came back from training camp in the United States. And a Former Major League Coach even joined us. A baseball magazine picked our school as a dark horse.”
“Weren’t you candidates for early elimination in the preliminaries? Can evaluations change that much during winter training camp?”
“Exactly. Even in practice games, opposing teams are wary of us.”
The more Younger Brother spoke, the more grateful I felt toward the Branch Manager.
Of course, it was true that I had produced good results, but taking care of these aspects wasn’t easy.
So this is how you manage people.
Through the Branch Manager, I gradually accumulated data and made plans to apply it to Nexfin and Rollbook.
Annual Salary 1 Trillion New Employee Chapter 49
E-book Publication Date | 2025.11.27
Author | Seo Oh
Publishers | Heo Heung-beom, Park Geon-won
Publishing House | Poten
Address | [04783] 10th Floor, 8 Yeonmujang 11-gil, Seongdong-gu, Seoul
Phone | 02-6320-8500
Fax | 02-6320-8585
ISBN | 9791175305892
Price | 100 won
ⓒ Seo Oh 2025
This e-book is a copyrighted work protected by copyright law.
This e-book is published under the author’s contract, so unauthorized reproduction, copying, distribution, and sharing are prohibited without written consent from both parties.
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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