Chapter 11
Even if I was certain that the stocks would fall by ten percent tomorrow, it wouldn't guarantee that the stock market would continue declining and stop the moment it hit negative ten percent. The market fluctuated randomly and could go from increasing by one percent to then falling by two percent. Following that, it could rise by two percent, then drop by three percent. In a second, the market could collapse from investor fears. That was why trading skills became more important than directing as the leverage ratio became higher.
If the leverage[1] was fiftyfold, the loss became fifty percent even if the product value fell only by one percent. Regardless of the final closing price, even a two percent drop in value would result in one hundred percent loss. Basically, this meant the loss of the entire investment. It was as simple and cruel as that.
I received an email from Jonathan who flew back to the U.S.
- Jonathan: You want to put up the entire four hundred thousand dollars into the fiftyfold leverage? Is it that you really trust me or do you not care because it isn't your own money?
Fiftyfold leverage meant that we would be investing twenty million dollars. Our profits would be fiftyfold, and our losses would also be fiftyfold.
Nevertheless! There was one important point. The game could not be continued any longer if the temporary value of the product dropped by two percent. It was called margin call because the stock exchange market forcibly sold the product when a person ignored the warning. That was the greatest risk of the leverage effect.
Jonathan was a guy who had succeeded in having the best year of his life with his trading skills when the hedge fund union suffered in Hong Kong around October. If he believed in the trend that I had showed him, he would be able to survive in those rough waves. My answer had already been decided.
- Seon-Hu: Don't be too suspicious of these trends. From now on, it's up to you. I'll be waiting for good news.
Jonathan had no idea that now was the only opportunity to mobilize fiftyfold leverage through stock index futures trading.
I met with Jonathan again at the Gimpo Airport on Saturday, June 14th. He flew back to Korea after notifying me that he had to meet me in person. He didn't contact me at all the week prior, which was 9th to the 13th, and he showed up with a restless expression. He must have come as soon as he finished trading. He would buy and sell, then repeat the progress again and again. I knew how hard he worked to maximize profits within a set timeframe. Jonathan must not have slept for a week, and he seemed impatient as he looked around for me at the gate.
Our eyes met. Jonathan put forth every ounce of his energy and walked towards me. Then, he spoke a number instantly.
"Seven hundred," he stated.
"Thank you for your effort," I said.
"You're not asking what that number means? It's not a percentage. I'm talking about seven hundred fold! Two hundred and eighty million dollars!" Jonathan looked like he was running into a monster, and he hugged me with all his strength. He kept screaming 'Jackpot! We have got to be insane!', and, of course, we caught everyone's attention from that frenetic display. I bowed to the approaching airport police and pried Jonathan off from me. In my memory, he wasn't even this excited when he had received a challenger-box level skill from a master box. He hugged me again with his eyes glittering with madness, so I had to apologize to the police.
Jonathan was going through a million emotions that he had suppressed all week. Everyone kept staring at us when I dragged him out of the airport.
"Have you organized the positions?" I asked.
"Of course! Be happy, man!" Jonathan shouted with exhilaration. He had earned more than I expected.
"You finished exchanging the money for dollars, right?" I questioned.
Of course, he would have. That meant we took out two hundred and eighty million dollars from Thailand's foreign currency reserve again. Dollars had become more valuable than gold. The amount we made was sufficient to impact the Thailand currency war. Thailand would declare its surrender to the hedge funds union on the upcoming 2nd of July, and the baht would plunge to the lowest level on that day. This was the previous history, but it could change due to our intervention. In other words, Thailand might surrender earlier. However, two hundred and eighty million dollars…
"Great job, Jonathan," I said.
"That's it?" He seemed to be offended.
"You did better than I expected," I responded.
This was only possible for him as he knew the trends and had bet his entire savings on a thirteen-year-old Asian boy's words. If it can be done well, I guess it could be considered a skill.
"Better than expected? All right, you can say that to me. However!" Jonathan raised his voice while scratching his head, "It's seventy thousand percent. That's an unprecedented earning rate. I turned four hundred thousand dollars into two hundred and eighty million dollars. I did! We did! We became major players with just one shot! I can't believe this. This…this doesn't make sense. What the hell did we do?" Jonathan sounded confused and was filled with mixed emotions.
"You should get some sleep, Jonathan," I said.
"The most inexplicable one is you, Sun[ref]Jonathan calls Seon-ho 'Sun' because Sun and Seon are homonyms in Korean./ref] You're a mystery. The most plausible explanation is that you've won the Chinese Mathematics Olympiad," Jonathan shrugged.
"This is Korea, Jonathan. How long has it been since you last slept?" It looked like he wasn't able to sleep on the flight.
"What do you mean? I'm already dreaming now," he said. His red and inflamed eyes stared fixedly at me.
"Okay, calm down first," I said while pressing down his shoulders as hard as I could.
He didn't even complain of the pain. He was sitting down and looking up at me as he said, "I can't have a heart attack in front of two hundred and eighty million dollars!"
"Mother, I'm going to sleep at Seong-Ho's place. Father's on a business trip, right? Lock up the door tight before going to sleep," I said.
Seong-Ho was not a made-up name. In my previous life, he was one of my closest friends from middle school to high school. I would see his face in the same classroom when I went to school on Monday. At first, I was genuinely happy to see him again since he had disappeared from the Day of Advent.
But, I realized that we would never be close again when our eyes met again. To be honest, it would be more accurate to say that I had given up on going through the process to become his friend. Therefore, Seong-Ho actually existed but was an imaginary friend to me.
I hung up the pay phone and went back to the room. Jonathan only took a shower but wasn't sleeping. He was in his bathrobe, and there were beer cans everywhere in front of him.
"Oh, my Sun!" Jonathan made me laugh by acting like he was greeting a goddess. It was hard to make me laugh.
"Are you seriously not going to sleep? We have tomorrow, which is a weekend," I tried to calm him down.
"We belong to the hedge funds union, right?" He asked.
"..."
"When I exchanged the money, I felt like we were a hedge fund with just the two of us as the board! A hedge fund worth two hundred and eighty million dollars," Jonathan was basking in the fact that we had joined in the currency war as one of the major players. As he said, it was more meaningful because we succeeded by using only his capital instead of managing the hot money of big investors.
"We were the owners of a hedge fund yesterday, and today, we're millionaires. What a great night!" His face was filled with excitement.
"Come sit over here if you're not going to sleep," I said, and Jonathan did so gladly.
"Let's assume that Thailand brings in a fluctuating exchange rate system[2," I said.
Jonathan breathed in, and his eyes changed. He knew that Thailand would basically be surrendering if they did that.
"And let's also say that on D-day, we bet all our funds to the highest leverage. There will be no rallies as the baht falls that day. It would free fall with no stops," I said.
Jonathan hiccuped and waved his arms.
"You are betting over two hundred million dollars without a risk hedge? I've never heard anything more insane than that," he was telling me the truth. No one had ever done this before. As he mentioned previously, no one could predict the stock market of tomorrow unless they were gods.
"How much do you think the two hundred million dollars would become?" I asked.
"...I have to do that? I can't. Do you think the hedge funds union would stay still when two hundred million dollars are bet at the highest leverage for the baht drop?" He looked at me as if he couldn't believe what I said.
"So, we have to leave something for them. I've already told you that the war is theirs," I said.
"If the D-day is wrong, we lose everything. Two hundred million…no, two hundred and eighty million dollars," he refuted.
"So, you should go to sleep. We have to start creating data from tomorrow," I continued on, "We just have to confirm how much we took out of the Thailand foreign currency reserve in percentages."
"You make it sound so easy, but that's hard to find out," he said.
"Why do you think I said two hundred million dollars? Where do you think the other eighty million would go?" I asked.
"A…are you really thirteen?" He was stunned.
"You can contact the president of the Thailand Central Bank, right?" I questioned.
"You're going to give them eighty million dollars just to take a look at their warehouse? Does that even work?" He didn't seem to trust me, but it did work. I only needed to compare it to the July 2nd that was recorded in history.
"Jonathan, visit Thailand. It's urgent," I said.
"We're going to be shot, the president and I. What if they refuse?" He asked.
Then, we would lower the leverage and set the date to July 1st even though the earnings rate would be lowered a lot.
"Eighty million dollars for letting us see a piece of paper in secret. Would you say no to that? Besides that, the eighty million dollars won't be given to the president alone," I explained.
"Then who?" he questioned.
"The president of Thailand Central Bank is a member of the royal family," I said.
"That's even more dangerous!" He shouted.
"I'm sure there are lots of backdoor attempts going on by other people. The royal family would guess that they would lose, and if they want to think about the future…they would accept the eighty million dollars," I elucidated.
"So, you can estimate if you look at that paper?" Jonathan said while scratching his head.
"Yes," I answered.
The hedge funds union would fight the war, and I would reap the actual benefits. However, the history of the financial crisis across Asia would not change to a great extent. The hedge funds would jump in with great eagerness since they had seen how luring the spoils were that had been taken away in front of their eyes. They would throw themselves harder at Malaysia, Indonesia, Hong Kong and South Korea.
"Sun!" Jonathan called my name out loud with a face mixed with thousands of emotions.
"1997 will be a glorious time for us. Let's bet two hundred million dollars on it!" he shouted.
Chapter 12
The Odin's Wrath that the Sixth Virtue used contained actual thunder. He was an immature young boy and, in addition to his powers, many things became mighty weapons in his hands. For instance, a mere club could turn into a weapon that was usually only found in platinum or higher-level boxes. A punch as weak as cotton candy turned into the God of Thunder's smash. After he stormed by, everyone, including humans and monsters, would be dead. The corpses' arms and legs that seemed to be bitten and spat by the angry beast were burnt black, and they rolled around on the ground where lightning seemed to have struck.
I still couldn't forget the power he had. Even after he finished his business and left, I still couldn't recover the dead bodies of the kids. The blue flames he left on the ground and in the air made the place resemble the ruins of Chernobyl. That kind of destructive power was latent in Odin's Wrath skill.
It was early summer, and the hotel room was cool, thanks to the air conditioner. However, whenever I bent my waist forward, drops of sweat would fall off of me like rain. My entire body was drenched in it.
There were no hints or signs of my stats increasing although I still had some stats I could raise through physical training…. Anyway, I had to prepare until I attacked the dungeon in full-scale.
Whoosh whoosh.
I reviewed the necessary movements, pretending that the F-grade 'Guard Dogs' were in front of me. When I reached the point where I was too tired to even move my body, the phone rang.
Are you Mr. Na Seon-Hu? Someone is on the line from abroad.
Thankfully, Jonathan contacted me before I had to return home, and his voice hit my eardrum.
Jonathan: You were right. They acted like they were waiting for us, so no gunshot for me.
Seon-Hu: So, what's the percentage?
Jonathan: In the early twenties. It's volatile.
Jonathan wasn't using the word 'volatile' to describe the current situation of Thailand. He was saying that Thailand still owned more foreign currencies than we had thought and that he was questioning whether this currency war would end with the hedge funds union's victory. I ended my calculations.
Seon-Hu: We agreed to all-in, Jonathan. No objection, right?
Jonathan: Didn't we already talk about it when we gave away eighty bloody million dollars just to see how much they had?
Seon-Hu: That's right.
Jonathan: One thing is clear. No matter what the consequence is, we are going to be doing something crazy. Hopefully, it's for the better. So? When is D-day?
Seon-Hu: July 2nd. Use the application of the floating exchange rate system and maximize the decline of the baht. Bet it on the highest leverage and try your best.
Our stage had moved from the Thailand stock index futures market to the foreign exchange futures market.
Jonathan: July 2nd?
Seon-Hu: Yes, that's correct.
I could hear Jonathan's breathing.
Jonathan: It's insane. I can't even imagine this. If your calculations work, we…You know it, right? Hedge funds like the Dragon Fund…
Seon-Hu: That they are the Pied Piper?
When a famous hedge fund such as the Dragon Fund attacked one country, smaller companies usually followed after them like hyenas. And the size of those followers would overpower the spearheads. This was why hedge funds were scary. Their power was not from their capital, but from the speculative funds and banks around the world that supported them. Their relationship was similar to the one between the Eight Evils and the Eight Virtues and hunters in the world. Even a fight between just a few of them could lead to a country's collapse.
Jonathan: Yes, that's an accurate description. I couldn't ask for a better one.
It had to be accurate, as that was the exact term Jonathan used to describe the hedge funds whenever he bragged about his heydays in 1997 during his past life.
Jonathan: So, Sun. If your calculations are right, we will harvest all the capital of the worldwide investment funds at once.
Seon-Hu: It sounds like you want me to be wrong.
Jonathan: I'm saying that it's a problem even though you are right. My weak heart won't be able to withstand the result.
Seon-Hu: You are much stronger than you think, Jonathan. Don't be scared by unnecessary thoughts and prepare for the conquest.
Jonathan: Conquest? That's…that's an apt word.
In other words, the fall of the baht on July 2, 1997, will be an opportunity to monopolize an S-class dungeon.
It was July 1st, the first day in history when Hong Kong was returned to China. It was inevitable that the media would continue showing the seashores of Hong Kong where celebratory fireworks would be going off. They kept replaying clips of British troops leaving and the People's Liberation Army Hong Kong Garrison being stationed in the city.
"Do you know how Hong Kong became a British territory, son?" My father asked.
Father had come home early today. I was about to go back to my room after greeting him quietly when I heard his question behind me. His intention was clear. I came back to sit on the couch, and Mother came with slices of fruits.
"There's a Chinese movie that your mom loves," Father said.
"You mean Once Upon a Time in China, right?"
Mother smiled. She really loved that film.
"Honey, you should listen, too. You should know your stuff before you start watching something. It might deepen your interest, who knows? The film's background is the Opium War, the one in which Western imperialist powers began to invade Asia," my father's explanation continued.
Father was more enthusiastic about my education than he was in my past memories. He thought and then carefully explained about how the Opium War started, what happened before the Nanjing Treaty was signed. and how that led Hong Kong to be ceded. In his mind, this was an important lesson.
However, history always repeated itself. The current version of the Opium War was again happening in Asia. The western investment funds pushed dollars instead of opium into the world's economy to weaken it, then attacked the weak countries by pouring in their own currencies instead of cannonballs.
Have I ever mentioned that history is cyclical? The reason why this horrible civil war occurred in Asia in the future was due to the fact that the Eight Evils and the Eight Virtues conflicted over their ideologies, but because of an S-class dungeon that was sealed in Asia. One of the Eight Virtues and his followers were major players, and their guild was already notorious for their pro-western racism. I could never have good memories about them. That was why I may have furrowed my brows and created a bit of a sour note.
I lowered my gaze as I made eye contact with Father.
"Hey, you should've told me that you want to go to the washroom. Wash and take a rest," Father said.
"Did everything go well at work today?" I asked.
"Is that something a middle school student would say? Haha. Yes, nothing much, kid," he laughed.
I didn't have a phone or a pager. The only way I could communicate with Jonathan was through email. My inbox was still quiet. We could transact about ten billion dollars in foreign exchange with a capital of two hundred million dollars. Even if we wanted to bet everything on the baht fall on July 2nd, it was only possible when those in the opposite position allowed it. That was why I had been waiting for Jonathan's email.
The baht market was already narrow, and currency had grades. If the dollar was an S class, then the baht was an F class. This meant the baht was being traded at less than ten billion dollars a day in the foreign exchange futures market. I was concerned that the amount I wanted would not be finalized, not that the baht would depreciate. What we were going to do was to monopolize the position of tomorrow's baht drop.
I kept refreshing the page, and the intervals between my clicks became shorter from every hour to thirty minutes, then to ten minutes. My eyes widened when Jonathan's email finally came into my empty mailbox. You could say that the speed I clicked my mouse was as fast as lightning right then. The email had no subject, and there was only one sentence. However, it was good enough to make me stand up after kicking my chair.
- Jonathan: Preparations for the conquest are complete.
It had been a while since I last heard those words. My fist was tight as my nails dug hard into my palm. I felt like I should have carried a bag full of supplies and entered the dungeon. In my past life, we would have thrown ourselves into the dungeon even though no one was certain we would survive.
However, it was different this time. Although my heart started pounding as if I had gone into a dungeon, the cause was different. This time, I was confident that I would succeed without risking my life. I would not feel the emptiness and guilt when the points someone gained from hard work became useless due to bad luck! No language could describe that emotion in words.
Now, there was a box in front of me again, and I know what would come out of it. An astronomical amount of dollars! The only thing I had to do was to wait. We were going to monopolize tomorrow!
- Seon-Hu: Great job. I'll decide when we will liquidate.
I sent a reply to Jonathan. Was it because I had a comfortable childhood? Has peace become a habit? It had been less than a year since I reversed the time, but my intense past life felt like a long time ago. So, I read Jonathan's email over and over to remind myself not to lose my determination to fulfill my goals.
The preparations for the conquest are complete.
Chapter 13
This was the power of money! In this life, Jonathan and I had agreed that the power of finance was an SSS class skill. Financiers like Jonathan and I could say that because we were the love child of 21st century capitalism. The Awakeners, the beneficiaries of the New World, were in the position of arguing that statement but had not.
Money…I had never participated in class, but I couldn't concentrate on the words of the male teacher standing at the lecture desk today. I could hear the sound of the clock ticking louder than his voice.
Tik Tok. Tik Tok.
The minute hand overlapped with the hour hand, and it was noon in Korea. It was 10:00 AM in Thailand since there was a two-hour time difference. The Central Bank of Thailand would announce their implementation of the floating exchange rate system in thirty minutes, at 10:30 AM. That was when things would start.
According to history, Singapore's foreign exchange market was where the baht was traded the most, and they were shocked and stuck frozen in fear as if they were attacked by nuclear weapons. It was like heaven for the guilds…no, never mind, the groups that bet on Thailand surrendering in mid-July. However, the two groups that bet on Thailand's victory would fall into hell. With my full-scale intervention, those who had bet on the drop in baht today were just us and a few investors that didn't lose their positions to us. Everyone else was tied to the baht rising, so we were just thinking about whose loss would be the biggest.
It was 12:30 PM, and the fourth period had ended. It was the time for the president of Bangkok Central Bank to hold a press conference, and, at that same time, it was the lunchtime that the students at my school had been waiting for. The classroom got busy with students moving and putting their desks together to share their lunch. I stood up to go to the teacher's office. As always, the students' eyes focused on me, then looked away.
Even after returning to the past, I couldn't remember the young lady who was my homeroom teacher. Given how cute she was, I should've remembered her, but I didn't. She gave me the impression of a cute puppy, and she was so tiny that her head just reached my shoulder. She looked up from her chair.
"You seem to get taller every time I see you, Seon-Hu. How tall are you now?" She asked.
I was over six feet. I nodded instead of answering her question.
"I would like to leave school early because I feel sick," I said.
"You seem like you would be in better condition than me though," she blinked.
Nonetheless, she seemed to be okay with me going home early as I was a student who didn't cause any problems in spite of my physique and I had good grades. She also remembered that this was the first time she heard me say a full sentence. She thought for a second, then waved her hand.
"Okay, go," she said.
"Thank you," I bowed.
"Seon-Hu. I don't think it would happen, but is there anyone bullying you? Nevermind. The reason why I ask this is because you seem to be alone all the time," she seemed worried.
"...It's just my personality, and I like being alone. Thanks for checking in," I replied.
"You talk like an adult. Go see a doctor, and I'll see you tomorrow." Her gaze did not leave me until I completely left the teacher's office. She seemed to be deeply concerned, and no wonder why…
Wung Wung.
My PC made a loud sound as it was accessing the internet since my house was empty.
Even though the phone bill for last month was over 150 thousand won, my parents had not said anything to me. When I skipped the tutorial and came to this period, I was already their mature son. I was always smiling in pictures, but my parents knew that I forced a smile for their sake.
In the photos that people had taken without me noticing, I was expressionless. In addition, the backgrounds were usually of a playground with pull-up bars. Of course, my parents took them, and I could tell how they felt when taking those pictures. I was growing too fast compared to other people my age, and my brain, mentally, was maturing at the same rate. I was always taciturn and earnest.
Similar to how my homeroom teacher let me leave school without scolding me, my parents also didn't reprimand me for racking up a phone bill that was over 150 thousand won. That amount was quite a lot for our family during this time.
Anyway, accessing the internet through PC communication was slow all the time. Singapore's foreign exchange information site and the lag on the GOL messenger I used to communicate with Jonathan were sluggish. The message, 'Too many active connections' popped up on my screen first.
- J: Sun!
- N: That's me.
- J: Tell me your full name.
- N: I like how you are being so careful. It's me, Na Seon-Hu. Has the result been announced?
- J: Yes.
- N: What is our ratio position?
- J: Seventy percent on thirty-four baht. Fifteen percent on thirty-two baht. Fifteen percent on thirty baht.
- N: The average of thirty-three baht.
- J: You're right.
- N: I can't check the market price now because the foreign exchange information site has shut down. We would have the right to profit by now, right?
Jonathan suddenly became quiet. I had tried to pretend I was fine for a while, and I had consoled myself that anyone who knew the past could earn money. However, I reached my limit. I pressed the keyboard one by one with my trembling fingers. The silence that Jonathan brought made my heart beat faster.
- N: Jonathan?
Jonathan must be losing his mind. He sent words with typos at first, then a proper sentence showed up.
- J: It's thirty baht for now. Our earning rate before liquidation is three hundred, which is sixty billion dollars.
Jonathan changed his attitude and acted like an analyst who was reporting to his boss. I could tell that he was trying to calm himself down. There had been cases when people got large earning rates with small funds, but the amount we bet on was fiftyfold leverage from two hundred million dollars, which was around ten billion dollars. As Jonathan said, it was crazy. No one could have ever done it without knowing the future.
- N: Let's keep doing this until the market closes.
- J: The opposite positions, whom we had raided from, are resisting fiercely. I recommend ending things now to confirm profits.
- N: As we agreed in advance, I will decide the timing. You don't need to worry about the opposite position's resistance. Today's announcement has completely overturned the situation.
The decline wouldn't stop until the stock market ended, and the opposite positions were aware of this. If this was a competition over whose desire was bigger, they would have some hope. However, as Thailand declared their surrender, there was no moment of emotion to intervene.
History was continuing on without change. The only thing different was that in the past, I had been taking a Korean language class right now instead of trying to allay my excitement.
It was trillions in Korean won, so I admitted that I would gain an astronomical amount of money soon. The numbers kept ringing in my head. Even though I had never touched this amount of money before, reality hit me just by imagining it. I washed my face with cold water multiple times, but my face was still too hot.
Jonathan's message came up every time the baht fell by 0.1. The messenger was quiet, but the numbers on my head were louder than anything else.
- J: 29 baht.
- J: 28.9 baht.
- J: 28.8 baht.
I was glad that we were not together since I knew the answers, unlike when I opened the boxes. If I was with Jonathan, our excitement would be at its peak like drug addicts, and I might have told him about future plans. Of course, such a silly slip wouldn't happen, but no one actually knew what would happen when dealing with such crazy exhilaration. Not only have I seen it happening once or twice, but I've also experienced it several times. This was why I kept pressing myself and did my best not to think about the amount.
Gosh. I just had to see the result without putting my life on the line, but why are my hands shaking so much? I clenched my fists as hard as I could, and it helped me a little bit.
- N: Begin to close.
Chapter 14
The reason why the hedge funds union only possessed a small portion of the futures market was because they were not certain that they would win. If they could guarantee victory, there was no doubt that they would have massively increased their shares of the future market and made a profit tens or hundreds of times more than their investment. The futures market functioned to distribute the risks in the spot market. The hedge funds union's main stage was the spot market in the baht war, and they considered the futures market only as risk management as one of their many strategies.
They didn't trust themselves? Of course not. It was because the hedge funds union managed billions of dollars from a few super rich, not from themselves. Using fiftyfold leverage meant taking a fiftyfold risk. There was no fund in the world that could risk two hundred million dollars like that. Such a fund was a group of swindlers, and no one would blame them for being thrown into a monster's mouth.
However, that was exactly what we were doing.
Again, no one could know what the market price would be tomorrow except God. There had never been precedent that ten billion dollars were transitioned with a fiftyfold risk. Of course, no such bet had ever won!
Our immense profit was a problem. It could lead to a historical catastrophe that could freeze the Thailand foreign futures market since the baht market was small and limited.
- N: Jonathan?
The futures market was a zero-sum game because there must be someone that lost when someone else won. In other words, the opponent had to accept the transactions in order for losses and profits to happen.
Jonathan couldn't answer because he was so busy. He probably couldn't sleep at all last night to monopolize the position worth ten billion dollars. And today, he wouldn't be able to even use the washroom because he would be so busy liquidating them.
The foreign exchange information site restarted again.
"Huh?"
The Singapore exchange rate was rising, and the graph measured by ticks was already steep. It was different from history. It should have dropped without any recoil, but the trend was on the rise after repeating ups and downs. The spot market and the futures market were going in the opposite direction. 29 baht. 29.5 baht. 30 baht.
The baht was dramatically rising! We would only make a profit when the baht fell.
- J: The atmosphere of the market has changed due to mass liquidation. I'm on it.
An urgent message popped up on the chat.
- N: I'm sorry. I won't bother you. Please focus.
The chat stayed quiet for a long time. Suddenly organizing our position meant that 'it wasn't predicted that the baht would fall; it would rise'. It was true that our massive liquidation was controlling the market's atmosphere, but it was not a big deal.
Thailand's implementation of the floating exchange rate indicated that they gave up defending the baht. No one knew how long it would last, but I could bet my life that the baht would eventually fall. It was something that anyone could tell even with little financial knowledge. Our traders were the elite foreign exchange dealers, and they would be hungry for the money they lost in front of their eyes.
The trend began to change, and the baht fell again as I expected. The baht once surged up to thirty-three dollars, but now dropped to thirty dollars. The speed was insanely fast as it did not even take five minutes for the baht to rise back again to thirty-one, then drop to thirty dollars. I could feel the attention of the many worldwide investors looking in on this, and I couldn't even guess how much money was passed on from one pocket to another.
- J: Eighty percent of liquidation is complete. I recommend you to hold the remaining twenty percent until the expiry date.
Ugh, I told him to focus instead of sending a message to me…However, I knew why Jonathan wanted to hold off on the last twenty percent. Completely liquidating our position when everyone was certain about the fall in baht would be stupid.
- N: I know what you mean, but proceed as agreed.
The money we were earning was from the other investors' pockets. We had to give them an opportunity to make up for their losses, so history wouldn't diverge too much and the battlefield would be moved.
- J: The baht is stabilized at thirty dollars. Risk has been decreased.
- N: No, Jonathan. The war is over, and the leftovers are for the hyenas. Liquidate all the positions right now, and come to Korea over the weekend. The battlefield will change, soon.
Even as I said that, I knew Jonathan wouldn't wait until the weekend. Just like he had in the second week of May, he flew over the next day as soon as he confirmed our profit.
"The decline in Thailand baht reached the lowest record. This was due to the Central Bank's announcement of implementing the floating exchange rate system yesterday, and the baht was transacted at 30.40 baht per dollar. With the plunge of the baht, there's a sense of crisis all over Southeast Asia …"
The television at the airport was broadcasting yesterday's big news. History had dramatically changed. It had been 28.40 baht per dollar after a 16% fall, but there was now a huge difference of two baht. In the financial world, the 0.1 percent difference between exchange rates and interest rates was greater than the gap between sky and earth. That was another reason why we shouldn't deal with Thailand again.
"Sun…"
Compared to the way he looked in the second week of May, Jonathan appeared in worse condition. He seemed to have gone through countless battles where he had bet his life. He looked about ten years older. When we attacked the dungeon together, he was an old beast with spite. He never fluctuated between joy and sorrow and only ran for points to open a challenger box. Therefore, when he gained great benefits, he prepared for tomorrow rather than basking in immediate happiness. I had never seen him so completely restless before.
We stared at each other without saying a word, and I moved first. The restaurant we had our first meeting at was still unpopular. The sound of Jonathan's shoes was heavy. We couldn't initiate conversation easily because there were no words to describe our current situation.
Jonathan sat across from me. Both of his arms were trembling, so I couldn't stop myself from staring at him. However, Jonathan was not the only one because the cup I was holding was also having ripples. I swallowed water in a gulp, then put the cup down.
The sound the cup made functioned as a sign, and Jonathan started placing the documents on the table. They were details about the past transaction records and the final profit in our accounts. There were so many of them that they could be made into a thick book by themselves.
Only then did I realize Jonathan's ruined fingernails, and his forefingers that would have pressed the buttons were worse.
"D…during the liquidation process, the…estimated p…profit…decreased," Jonathan's voice was shaking. Then, he clenched his teeth to get a hold of himself and waited until he calmed down. My insides also shook until Jonathan verbally confirmed the liquidation amount.
"T…that was inevitable," my heart pounded as if it would burst out of my skin.
"The final liquidation amount is…fifty billion dollars…"
Ah! Although I had made a guess, my breath stopped when Jonathan confirmed the amount. We hit a jackpot! Numbers I only thought of in my head had become reality.
I fully enjoyed the bliss yesterday, but what did this tremor mean? The emotion that overwhelmed my body at the moment was similar to when I encountered a boss monster alone. My head became blank as my entire body shivered. Yes. It was the same, but…An Awakened had to observe his own emotions and physical state objectively. I could die in the dungeons by not being able to distinguish between horror and joy.
Then what was this feeling coming over me now? Fear or joy? Why was my body trembling? In the end, wasn't a potential S class ability more valuable than fifty billion dollars? I didn't shake this much then.
Yes, that was it. Jonathan would never know, but fifty billion dollars was just the beginning. I only used two opportunities out of the many chances that lay ahead of me. Knowing what would happen tomorrow was an amazing thing. There was a reason why people said that only God knows what tomorrow's market price will be.
The challenger box was the greatest of all the boxes, and the best thing that could come out of it was a chance to travel back in time. I was on the verge of becoming a God! This shudder has to be because of my great joy from this, and I finally felt that I had come back in time now.
"Are you okay?" Jonathan asked, and I nodded.
"Because it's fifty billion dollars," he said as if he understood me.
"Let's come to our senses and start working, Jonathan. The Asian financial crisis has just begun," I looked at him.
"Ah…" Jonathan couldn't continue with his speech.
"Keep yourself healthy. We won't be entering Malaysia and Indonesia," I said.
When I explained our further plans, Jonathan looked at me with his eyes now awake from his daydreaming fantasy. He didn't ask why we wouldn't enter those two markets, or maybe, he had complete faith in me now. Also, he would have known that the two countries' foreign exchange markets were not big enough for our intervention. We had grown that big.
"We will enter Hong Kong soon," I was aware that Jonathan was most confident in the Hong Kong foreign exchange market. His eyes glistened with a different excitement than before.
"And I want you to do me a few favors," I said.
"Anything," he replied like he would take his heart out if I asked him to.
"There is one property I need to buy in Korea first," I said.
Chapter 15
"Are you saying we should pay a dividend?" Jonathan opened his eyes wide with surprise.
"No. Even if I hold fifty-one percent of shares, it would be difficult to receive the profits as a minor in Korea," I explained.
"I could do it if you want," he said.
"The funds will be tracked at the same time, Jonathan. I'm sure you've noticed by now, but I hate attention, especially in my country," I said. Jonathan was about to say something but closed his mouth.
"My parents have no idea what we are doing. They think I'm playing basketball with my classmates instead of meeting you right now. Do you understand what I'm saying?" I asked.
He answered, "...You are something, Sun. But you're right. It's true that you would receive lots of attention from all over the world. However, fame would help us, and, actually, is necessary."
I pointed out, "Jonathan Investments, that's our company's name. Your name is listed as CEO." Jonathan seemed to have understood my meaning. He scratched his head and got lost in thought.
The food we ordered had arrived while he was making his decision, and I could smell the steak now since I calmed down.
"Could I even do that? There are things I have to admit I don't want to even do. You directed, and I traded, but even juniors could trade within a fixed frame. What I'm saying is that your directions made everything possible," he finally said.
Jonathan in the future and the one here in the present were definitely two different people. However, one thing remained the same. He had a conscience that was rare among Wall Street elites, and he didn't lose it during the time he was driven only by revenge. That was why we could become comrades when I found him again.
"You can have all the fame from Jonathan Investments. Think of it as a payment for using your name and me taking more shares," I said, but Jonathan hesitated.
However, no one in Wall Street would refuse fame. A famous celebrity's words held power to change a company's stock price. Also, what about someone who was one of the pillars in the financial world? There was a reason why people said the lower classes earned money and the higher classes earned fame.
"About the land in this country," I started speaking.
"...Are you sure that's okay, Sun?" Jonathan asked again.
I replied, "That conversation is over. Anyway, there is no way but to purchase land in Korea under our company's name. Right now, foreigners and foreign firms are fundamentally blocked from acquiring real estate."
"For now?" he questioned.
"If Korea starts having a financial crisis, the real estate market will open," I said.
Since the country would need money, they had to open the market. Jonathan began staring at me as I explained the next step. He didn't touch the steak, and me telling him to eat before his food got cold seemed useless.
Jonathan raised his voice, "I no longer doubt that there will be a foreign exchange crisis in your country, Sun. However, I want you to clarify your intentions. It was only twice, but we succeeded beyond anyone's wildest dreams in two fields: the stock index futures and the foreign exchange futures. But now, real estate?"
"The real estate is just a small part, Jonathan. We will jump into any market if we can make a profit from now on," I explained.
Jonathan's eyes rippled with an unspoken emotion, and his big pupils held me. He seemed to be asking me: 'how much from here, and to what extent?' and 'was fifty billion dollars just nothing for you?' His surprise was turning into astonishment. I may have looked like a devil who would never be satisfied with anything. I had to hold him before he got scared and ran away.
"I know that I'm a bit greedy and smart," I even smiled, but Jonathan's expression remained stony. He became serious. I waited until he opened his mouth. A heavy silence filled the room, and several pieces of classical music played while we were sitting in the restaurant.
"You and I, Sun. We'll be fine, right?" Jonathan asked.
I replied, "Why do you ask that? Do you think I'm going to eat you up? I'm just greedy for more. What can I do when a chance to earn more money is right in front of me? It would be more weird if I don't take the opportunity."
"But you…" he slurred the end of his sentence.
"I'm thirteen, but do I look that young? It's just a number written on a document, so please forget my age. If you don't treat me like an equal colleague, we can't work together," I said.
"That's not what I'm saying. You…you are too special," he looked reluctant.
I answered, "As I said, I know that. But that's not the reason to be scared of me."
My words must have hit the nail on his head. Jonathan swept back his hair with a rigid face.
"Then, you acknowledge that you scare people?" he asked.
I shrugged, "Of course, I turned 400 thousand dollars into 50 billion in two months with two calculations. What could be scarier in this capitalist society?"
"I know that it wasn't luck. You'll go further in the future, and I can't imagine how much you'll earn." I expected Jonathan's shock, and I knew he had been holding it for a while.
"Let's stop the conversation about our personal stuff. Will you continue to work with me, Jonathan? As an equal colleague instead of a nerdy Asian genius kid. If so, please eat first. You are too worked up now," I said.
I cut and ate my steak while empty dishes piled up in front of Jonathan. By the time he was no longer able to eat, his expression had lost its rigidness. People needed to eat first. In fact, most of the supplies we prepared to enter the dungeons were food.
I made a suggestion, "Please divide the company using my shares as collateral. If you want to, you can invest as many shares as you want."
"Right now?" Jonathan was stunned.
"I'm saying that we should start getting ready slowly," I said.
He questioned, "I know what you are saying, but how and exactly how much do you want to divide?"
"The more complicated the structure, the better. To the extent that no one would notice the original owners of the company. Aren't there people who do such things?" I asked.
"There are," he replied.
"The structure has to be confusing enough that they don't know what they are dealing with. We would have to go through many firms," I said.
"You're saying that we should create hundreds of paper companies. That's definitely not my area. Is there any reason why we should go that far? You told me you would tell me the ingredients," he said.
"50 billion dollars already draws too much attention. Then, what would happen if the funds go above five trillion dollars?" I asked.
Jonathan didn't point at me and say I was crazy this time. Perhaps, he had decided to think of money as numbers after making his choice.
"Of course, I'm joking," I said in a joking tone, but Jonathan took it seriously and asked a question. Of course, it was not a joke for me either.
"Do you think we can control that? I agree that you're a genius, but we're only two people," he questioned.
"We'll get busier until we establish a system and hire employees. We should start with dividing the company. As you've mentioned, with layers of paper companies underneath us," I explained.
"This scene here is where the biggest crime is conspired," he smiled faintly. He seemed to have regained enough control of his emotions to make a joke.
"It must have been difficult for you as you've overexerted yourself. Let's form a task force when entering Hong Kong. Ability doesn't matter, so just look at their trustworthiness and loyalty," I said.
He asked, "You are not going to care about how capable they are?"
"Yes," I answered.
"...Then, there are some friends I know," he said.
"That's good," I responded.
"I'll bring them in as the main team of the taskforce and fill the other positions," he said.
"Let's merge the two mid-sized investment companies if we bring the results from Hong Kong. For instance, the Wolf firm, where you used to work," I suggested.
Jonathan let out a joyful scream. From the way he quickly closed his mouth, it might have happened unconsciously.
"Didn't you tell me to stay healthy until August?" he asked.
"That's why you should start finding people. It doesn't matter how much you give them. I'll leave everything up to you. Bring in the best and sign an agreement with external operators if necessary," I said.
"Agreement? Money will triumph over loyalty," he responded.
"That's what I'm saying. Bring them with twice, three times of their usual pay. Someone like Jeffery Kay," I said.
"You know…everything," he was amazed.
Jeffery Kay was known as the firm hunter. He was highly respected in the Mergers and Acquisitions (MA) field, and he was also famous for getting the highest annual income.
"He will save our money. But don't give him the authority to see how our company works," I said with finality.
"Since we're dividing the company?" Jonathan questioned.
"He is only for MA," I said.
He smiled, "Anyway, you are telling me to hire Jeffery and have him work for me. That's like my dream."
To be more exact, Jeffery would believe that he was employed by an investment company with 50 billion dollars in funds.
"Once we finish dividing our company, I want to name one of them as Jeon-il and have it registered in this country. With that foreign firm, I'll begin purchasing things in Korea," I said.
"What does the name mean?" he questioned.
"That's my dad's first name," I answered.
"Will you tell your parents? Shouldn't they know about this?" He asked.
"Of course, I'll make sure they live comfortably. I'm just waiting for the right timing. And Jonathan," I said.
"Yes?" He replied.
"Let's just work for now so we won't be spoiled by the money. After all this passes over, won't the wealth over the world be ours?" I said.
Jonathan had been physically and mentally run down when he came to Korea, but he was smiling when he left. We had built trust between us. My next plan was to buy the area with a sealed dungeon and conquer it after the foreign exchange crisis when the real estate market opened to foreigners.
The Aliens Land Ownership Act was completely revised in May 1998, but things seemed to be speeding up. This was bound to happen since I intervened.
