Chapter 17
Chapter 17
Translation: Godtl
"Team Leader?"
At the voice of Assistant Manager Lee Hye-rin, I snapped back to attention.
There was one thing I'd learned during my time at this securities firm.
This "intuition" of mine was based on collected data.
In other words, it wasn't like some madman getting random flashes of insight—it was more like a system that organized acquired data from specific fields and delivered it to me as intuition.
And right now, that intuition was telling me something.
The Chinese bubble was about to burst.
Exactly as outlined in the scenario I was holding.
"So what you're saying is, all those stocks we've been talking about going up will completely reverse when the Chinese stock market bubble pops?"
"Ah... yes. That would be correct. But while there is indeed a bubble, it's not like it's going to burst right this moment."
"Based on our research analysis, I think it could easily go up to 300% before that happens."
Objectively speaking, they were right.
Everyone here had graduated from top universities and had considerable experience in the stock market.
Did they really not know China was in the midst of a massive bubble?
The reason they were still willing to dive into this game was that they judged it was still too early for the bubble to burst.
And even from my perspective—with less financial knowledge and experience than them—China seemed like a land flowing with milk and honey.
They knew that as long as they rode the upward trend, even scraping together every last penny they had, they could essentially print money.
"Team Leader. Do you... believe the Chinese stock market bubble is about to burst?"
The team members all looked at me with eyes that said, "Surely not."
"Yes."
At my answer, scattered groans filled the room.
"Well, we all know the bubble will burst eventually. But surely you don't think it's happening right now?"
"The Chinese government has been creating an investment boom by lowering interest rates, easing real estate regulations, and expanding stock market access. As a result, their citizens have all taken out loans to jump into the investment market. They've even structured it so people can borrow more money as stock prices rise—new stock accounts alone have surpassed 90 million."
The reason the Chinese stock market had grown so rapidly in just one year was due to government policy.
They'd fully embraced the policy of "stimulate the stock market to create wealth," pouring fuel on the fire of economic growth.
This had led to an absolute investment frenzy, with everyone—regardless of background—jumping into the stock market.
Not stopping there, the Chinese government went a step further, actively encouraging citizens by claiming stock investment was the only path to wealth.
Following this policy, state-owned funds aggressively intervened in the market, artificially inflating state-owned enterprise stock prices to reassure investors.
They claimed the Chinese government would never let the stock market collapse.
It was this snowball effect that had allowed the Chinese stock market to form a massive 150% bubble in just one year.
"Team Leader, we completely understand what you're saying. Anyone can see it's a bubble—a ticking time bomb. But not now. Isn't everyone saying the same thing? That the bubble still has a long way to go before bursting? Just look at the indicators—China's growth isn't stopping here."
"Right. Most importantly, there's no trigger to burst the Chinese bubble. The only variable would be if the Chinese government suddenly changed its stance, but just yesterday they were still encouraging people to pour their money into the stock market."
"I think even the Chinese government can't stop now. Having already driven it up 150%, they'll probably aim for 300%."
The research data, my team members, and likely everyone outside this room too.
They were all saying the same thing.
That the Chinese stock market had no brakes.
No—that they'd been completely removed.
'Objectively speaking, everything they're saying is correct...'
But I'd never made a single rational investment in my life.
I'd always followed this explosive instinct within me.
And what had always led me to victory wasn't reason—it was this intuition.
"Given that the research materials we have here are insufficient to recommend solid stocks, let's create a portfolio based on the assumption that the Chinese stock market will collapse."
"T-Team Leader!"
"Are you seriously betting on a crash? Really?"
"Yes. Right now, the only way we can invest in China is through ETFs, isn't it? We can't handle overseas options or anything like that. Let's look into that first. And if the Chinese market collapses, please also inquire in more detail about how it might impact our domestic stock market in the research."
Then, we could either short the relevant stocks or start accumulating derivatives like the options currently available in the market as another possible approach.
"Shall we start trading once the materials come in?"
***
Team 7's first meeting.
After the meeting ended and the team members left the team leader's office, most of them were shaking their heads.
"No, seriously. What on earth is he thinking? Am I the only one who finds this weird?"
As Section Chief Seo was the first to voice his dissatisfaction, Assistant Manager An, standing beside him, nodded in agreement.
"It's definitely strange. Right now, Team Leader is probably the only person expecting the Chinese bubble to burst any moment."
"That's exactly what I'm saying. Go grab any random person passing by in Yeouido and ask them—what kind of reaction do you think you'd get if you told them the Chinese bubble is about to burst? You'd be lucky if they didn't call you insane."
Then, a sharp voice chimed in from the opposite side.
"Are you disrespecting our Team Leader right now?"
"No, Deputy Lee Hye-rin. I'm not disrespecting the Team Leader—but honestly, even you have to admit this is weird. Can you honestly say it isn't? Huh? Can you?"
Right now, the Chinese stock market is booming.
You can tell just by looking at what the other teams are doing.
They're all convinced the Chinese market will keep rising and are going long, aren't they?
But this rookie Team Leader was trying to go against the tide.
You don't even need to say what happens to those who defy and go against the flow in the stock market.
"It is strange. But I choose to trust the Team Leader's words."
"What?"
"I haven't known him for long, but he's never once failed in an investment. He was promoted to Team Leader at lightning speed right after joining. There must be a reason for that, don't you think?"
"No, that's just because he was parachuted in—!"
Section Chief Seo raised his voice before quickly lowering it again.
"Sigh. Anyway, we have to follow the Team Leader's orders, so let's all gather the materials first. I'm gonna step out for a smoke."
Leaving the department and heading to the smoking area, Section Chief Seo clenched a cigarette between his lips.
Yeah. A bubble. It could burst.
No—it will burst eventually.
But betting on it already is just reckless.
This is a prop trading department that survives on day trades, isn't it?
A place where we never hold stocks for more than a week.
But the moment you bet on the bubble bursting, there's no telling how long you'll have to wait for that moment.
It could be months—no, even a year.
For a prop trading team that settles profits once a month, long-term investments are fatal.
And even if the bubble does burst a year later, by then, we'd have already burned through all our money, making it impossible to ride the wave when it happens.
"Pfft—"
Section Chief Seo was alone in the smoking area.
It had been a while since he last smoked at this hour.
Of course it had.
The market had just opened, so everyone else was probably running around like madmen.
While everyone else was making easy money, Section Chief Seo was stuck here, pitifully sucking on a cigarette.
"Maybe I should just transfer teams?"
But that wasn't easy.
Think about it.
He was a parachute hire who got promoted to Team Leader at lightning speed.
That means his backers are enormous.
He's probably part of the royal family—and if someone like that takes a dislike to you, you might as well quit the company.
"What the hell are we supposed to do?"
If we end up losing all our money like this, won't the team just explode?
Wouldn't that be even more fucked up?
All sorts of wild thoughts flashed through his mind.
How did I even make it to section chief?
Why am I being tested like this...!
"I don't get it. But if I'm told to do it, I have to do it."
What else can I do?
The other guy is from another world, and I'm just an ordinary section chief.
"Section Chief. The research team sent over the materials."
After quickly stepping out for a smoke, Assistant Manager An Yeong-sang handed him the documents.
"Oh? That was fast."
"Yes. It seems they'd already anticipated the bubble could burst at some point, so they had scenarios prepared in advance."
Section Chief Seo glanced through the documents the team leader had been holding earlier.
He wanted to see which analyst had already written such nonsense about a bubble collapse.
But upon closer inspection, the materials were surprisingly flimsy.
They were clearly just reference material, barely worth keeping around.
And yet, to make such a decision based on just this...?
"Sigh. Never mind. Give me those documents. I'll deliver them to the team leader myself."
"Ah, yes."
Section Chief Seo took the documents and headed into the team leader's office.
The market had opened, but nowhere else would be as eerily calm as this place.
"Team Leader. The materials are ready."
"Ah. That was quick."
"Yes. In securities, time is money, isn't it?"
Team Leader Jeong stared at the documents for a long moment, then began checking off the stocks listed by the research team one by one.
Did he have some personal criteria for selecting stocks?
Section Chief Seo couldn't shake the unease gnawing at him.
So, he decided to speak up one last time.
"Team Leader. Are you really going ahead with this?"
Jeong Jin-ho, who had been meticulously reviewing and checking each product, set down his pen.
"Section Chief. While we do have team strategies, prop traders are ultimately individuals, aren't they? That's why personal judgment matters, and the company evaluates us accordingly. So, if you truly believe your judgment is correct, you should act on it. I'll respect your decision."
Was he saying, If you don't trust me, do as you please?
"Please share these materials with the team. Let them know they can invest in the stocks listed here, or if they find better options elsewhere, they're free to invest in those instead."
"Yes."
Section Chief Seo took the documents and turned to leave the office.
But Jeong Jin-ho stopped him.
"Ah, and... Since this is my investment strategy, I'll take full responsibility."
"...Understood."
Leaving the team leader's office, Section Chief Seo relayed the instructions to the team and sat back down at his desk.
'If I think my judgment is right, I should act on it?'
He stared blankly at his screen.
Displayed before him was the window for Chinese stock market-related ETFs currently on the market.
Following the team leader's directive meant buying into the right-side ETF—the one no one else was touching.
But if he went with the left-side ETF, this month's performance would be comfortably secured.
'But if I really go my own way... I'll be the one dealing with the fallout alone, won't I?'
There were times when the team leader and members clashed over differing opinions.
Other companies might be different, but in securities firms, team leaders couldn't force investment decisions on their members.
At the end of the day, they were still just one team.
Because these were prop traders who had individually contracted with the company.
So when opinions diverged, even if it strained relationships, each person invested as they saw fit.
But this team leader was different.
Getting on his bad side was no different from getting on the wrong side of the higher-ups.
Even though he was a rookie who hadn't been with the company long, not a single higher-up had raised an objection to his promotion to team leader.
"Right. He said he'd take responsibility himself."
That gave him confidence.
It meant even if they lost everything here, the team wouldn't collapse.
Just how well-connected was he to say something like that?
Click— Click—.
Section Chief Seo began executing the buy orders in earnest.
He poured into the ETFs, shorted steel stocks, and allocated a portion to other derivatives.
Every move followed Jeong Jin-ho's checks—without the slightest deviation.
[Your investment ratio has exceeded the risk management limit...]
Then, as if by magic, a warning message from the Risk Management Team appeared.
They were going against the market flow, dumping money into all the wrong places, so the warnings came swiftly.
For a moment, he wavered—but then:
"Risk management?"
Don't know. Don't care.