Chapter 30
Chapter 30
Translation: Godtl
A direct terrorist attack on Saudi Arabia's capital.
Riyadh had been the most developed and considered the safest city among Middle Eastern nations, making this attack all the more shocking.
"Luckily, the market didn't fluctuate too wildly since Iran was quick to issue a statement denying any involvement."
Iran is currently locked in a tense standoff with the U.S. over nuclear issues.
Well, to be more accurate, it's more like Iran is being unilaterally pummeled.
The U.S. has already pressured various nations into cutting off all trade with Iran.
And now, with the added burden of the Yemeni civil war, Iran is stuck in an incredibly thorny situation.
So when a terrorist attack suddenly strikes Saudi Arabia's capital at this very moment?
Reading that news must have sent chills down Iran's spine.
Even if it wasn't their doing, if Saudi Arabia pinned the blame on them and declared war, the country would be in serious jeopardy.
"Remember how after 9/11, North Korea was the first to vehemently deny any involvement? It's the same principle here."
Thanks to that, the market only rippled briefly before stabilizing.
However, there were assets that surged even higher because of this incident.
"Safe assets are skyrocketing endlessly."
"Yes. Even government bonds, which usually show little movement, have been climbing steadily."
Among global government bonds, there's a top two in terms of credit rating.
U.S. Treasury bonds and German government bonds.
They hold the highest credit ratings and are classified as the safest assets among all government bonds.
Naturally, when safety becomes the top priority in the market, these two see the highest trading volumes.
"But what's up with the Franc...?"
Yet the Swiss Franc's price remained frozen.
Due to the Swiss government's financial policy—the cap system—the Franc's price was locked in place.
"It looks like it's about to rise, then it falls. Just when you think it's dropping too much, it climbs again. It's like the price is completely stuck."
"Well, it's the Franc. Do you think it's the top safe asset for nothing? If the price rises too much, the Swiss government releases supply to bring it back down. Conversely, if it drops too low, they buy it up to stabilize it."
There was a reason the Swiss Franc maintained its position as the ultimate safe asset.
"But why did the department head buy into this?"
"Hmm. My humble guess is that before the attack, the market was completely frozen, right? So instead of just sitting on capital, he might have converted everything into Francs to wait and see how things unfold."
Everyone nodded in agreement.
It was the most plausible reasoning.
"What do you think, Section Chief Seo?"
Section Chief Seo was the type to jump into a pit of fire if Department Head Jeong said so.
His unwavering trust in Department Head Jeong Jin-ho was unmatched.
"I don't know the department head's intentions either. His foresight is beyond what anyone in this company can comprehend. But one thing's for sure."
The employees perked up their ears.
"W-what is it?"
"The department head doesn't have brakes."
No brakes?
"You newcomers must have experienced it by now. Has anyone ever seen the department head manage risk when day trading?"
"..."
Come to think of it, no.
They had simply followed Section Chief Seo's advice—to empty their minds and just do as the department head instructed—so risk management had never crossed their minds.
On top of that, the rapid-fire day trading left no room for second thoughts, leaving them mentally exhausted.
"But isn't it dangerous not to manage risk?"
Even when investing 5 billion won, risk management is strictly enforced.
Otherwise, the Risk Management Team would immediately halt the trades.
Yet here they were, making day trades with a staggering 500 billion won without a single care for risk management.
It was an incredibly reckless, high-stakes gamble.
"Right. To us, it looks insanely risky. But in the department head's eyes, that is risk management."
"Huh? How is that risk management?"
"You win, that's how."
"...?"
"Don't get it? If you only fight battles you know you'll win, that's risk management."
Those who had worked with Department Head Jeong Jin-ho before were all nodding in agreement.
On the other hand, the newcomers tilted their heads with expressions of utter disbelief.
Had these people all been collectively hypnotized or something?
How on earth could that be considered risk management...?
Beep—!
Just then, alert tones chimed from various directions.
The signal that the stocks they had chosen were rising.
"Huh? Wait a minute. Wh-what's going on here?"
"Wasn't the Franc supposed to be capped so it couldn't rise any further? Why is the price skyrocketing like crazy right now?"
"Something must have happened. Quick, check the news!"
The Swiss Franc, whose price should never have risen above the cap set by the Swiss government, suddenly began surging uncontrollably.
As the graph pierced through the sky with no signs of stopping, the employees' jaws dropped as if they might hit the floor.
"Th-the Swiss government just announced they're abolishing the cap system!"
"What? Without any warning, just like that?"
"It's rising. Already 5%... 7%... No, 10%!! The speed is insane!"
Only then did the department employees simultaneously turn their gazes toward Section Chief Seo.
"Told you so, didn't I?"
He smirked knowingly.
＊＊＊
[Due to the safe asset frenzy, Switzerland has finally announced the abolition of the cap system. The sudden, completely unannounced removal of the cap has sent massive shockwaves through the foreign exchange market, causing Franc prices to skyrocket. Meanwhile, the Euro price is...]
After keeping everyone on edge until this very Friday...
It finally exploded.
The world's safest asset, the Franc, had stabbed them in the back like this.
The cap system was literally a policy to keep the exchange rate fixed at 1 Euro = 1.20 Francs—neither falling nor rising.
But there was something they had overlooked.
Namely, demand far exceeding their expectations.
The China Shock and Greece's default.
Money had already been flooding into the Euro and Franc since then.
Switzerland had been barely holding back the currency's volatility by injecting funds to stabilize it.
Then the Saudi terror attack happened.
That was the first domino to fall.
When the Saudi capital was attacked, people feared further escalation and poured money into safe assets. The resulting overwhelming demand made price defense nearly impossible.
"So Switzerland finally raised the white flag."
"Wow. But how could they announce it so abruptly like this? Hedge funds and securities firms that relied entirely on that cap must be in complete chaos right now."
"Just them? Swiss companies and importers of their products must be getting wrecked too."
Normally, abolishing such a cap system requires prior discussion.
That way, the shock can be mitigated.
But Switzerland must have been in too much of a hurry—they dropped the bomb without warning.
"Isn't this shock on par with the subprime crisis in FX history?"
As Deputy Lee Hye-rin said, this scale of impact hadn't been seen since the subprime crisis.
The Franc's price had already surged by 20%.
The critical question now was how much further it would rise.
That was why, even though it was Friday, none of us—myself included—could leave work.
"But Chief, how on earth did you foresee this?"
"You predicted Switzerland wouldn't be able to hold out in the end, didn't you?"
Chuckle. As expected of such foresight...!"
"This is why we need to develop the ability to see the forest for the trees."
"..."
Even without my response, the employees were already beating their own drums in admiration.
"Chief, when should we cash out?"
A full 20% increase.
In the foreign exchange market, where even a 5% daily rise was considered extreme, 20% was downright insane.
Selling now would net us a staggering 100 billion won in profit.
Anyone else would be seeing stars and selling immediately, but—
"..."
Even as I hovered my mouse over the sell button, no signal came.
It meant the price would rise further.
"Hold onto them for now."
＊＊＊
The terror attack in Saudi Arabia that had sent CEO Hwang Dae-un's heart plummeting.
When he saw that news, his life had flashed before his eyes in sheer terror.
But now, he couldn't even recall that memory.
"So? Wh-what's the situation?"
This was the kind of moment that made you bite your nails raw from tension.
It wasn't just Hwang Dae-un—the other executives gathered in his office felt the same way.
"He's still holding his position."
At the employee's report, sighs erupted from all corners of the room.
"What? Still?!"
"Didn't they say it already went up over 30%? And he's still holding onto it?"
Since Friday, the franc's price had been breaking through ceilings and climbing relentlessly.
And Jeong Jin-ho had been holding a staggering position of over 500 billion won in francs even before they started rising.
Naturally, the executives who knew this had no choice but to gather in the CEO's office.
In their hearts, they wanted to rush to Jeong Jin-ho's department and witness the moment in real time, but they couldn't dare disturb him—so they had all convened here instead.
"But isn't the cap supposed to be 30%?"
"Sigh... Right. Even with the heart of a beast, this is pushing greed too far."
CEO Hwang Dae-un was dumbfounded as he watched the executives, who had trickled in one by one after hearing about the franc, now treating his office like a hideout, analyzing and debating among themselves.
It was absurd, but the funny thing was—he found it entertaining.
"Hey, didn't you all say 25% was the limit when it hit that earlier?"
"That was a misjudgment. But this time, it's real. The ceiling is definitely 30%—"
"Whoa—it's going up again! Breaking 33%!"
"What the hell? How far are these lunatics going to push it?!"
The franc, which had stalled just below the 30% range, finally broke through its resistance level.
Even CEO Hwang Dae-un swallowed dryly at the relentlessly climbing percentage.
"Jin-ho? Did Jin-ho sell yet?"
"Not yet."
"Ugh."
"He's still not selling? Just where does Manager Jeong think the peak is?"
By now, even the executives were sweating, their mouths going dry.
No matter how strong one's nerves were, anyone would have hit the sell button by the time it hit 30%. But Jeong Jin-ho was holding out to the very end.
Though it was Saturday, no one even thought of going home—they all huddled together, eyes glued to the charts.
The franc, which had climbed to 33%, seemed to dip again before surging once more.
"Agh, this is insane. The curve is too extreme."
It swung from 30% to 33%, then sometimes plummeted all the way to 20%.
The volatility was so extreme it made them doubt whether this was really the FX market.
"Guess we don't need to go ride a rollercoaster, huh?"
And then, in one sudden moment—
"Huh? Wha—?"
The franc, creeping upward again, marked a new peak.
"40%?!"
They all turned to the employee monitoring Jeong Jin-ho's department's real-time trading volume.
"...He sold!"
Finally, Jeong Jin-ho had unloaded his entire position.
True to the world's largest market, the 500 billion won position was liquidated in an instant.
And the recorded profit rate? A staggering 40%.
"Whoa—"
"This can't be real. It's not some kind of game—"
"Even in games, you can't do this. Not without cheats."
The executives exhaled deeply, shaking their heads.
They, too, had weathered the investment battlefield, but a beast like this was a first in their lives.
No—the price wasn't just fluctuating slightly. It was dancing up and down like a tango, and he still didn't sell?
No sane person could have endured that.
"If I worked with Manager Jeong, my heart wouldn't last long."
"Right? When it hit 30% and then crashed to 15%, I thought I was gonna faint."
"And yet he didn't sell, holding out till the end... Ugh. I could never."
Only someone capable of making decisions others couldn't—with the mental fortitude and nerves to endure until the right moment—could single-handedly maneuver 500 billion won like this.
"But... now Manager Jeong Jin-ho's working capital has surpassed 700 billion, hasn't it?"
"Exactly. How long has his department even been around? And he's already at 700 billion?"
"At this rate, won't he soon surpass our company's net worth?"
Currently, Gwangun Securities managed funds totaling 1 trillion won.
That was after deducting the 700 billion Jeong Jin-ho was handling.
Yet his investment capital was on the verge of overtaking the company's entire net worth.
"If this keeps up, he'll really hit the trillion-won mark..."
For that, he'd need another 300 billion.
In a world where even making 3 billion is a struggle—300 billion was unfathomable.
But why was it?
The moment the name Jeong Jin-ho was attached to it, even that 3 trillion won seemed like a small amount.
***
"This SUV model has ample trunk space and is perfect for camping or trips. It also comes with four-wheel drive. You'll really feel the difference when you test drive it yourself. And this model here is a hybrid, so if you're looking to save on costs..."
Hmm. Maybe I shouldn't have come alone.
I probably should've brought someone who knows about cars.
Since my father's birthday was coming up, I wanted to buy him a car and was browsing alone. The problem was, since I wasn't well-versed in cars, even after hearing the explanations, I couldn't quite tell what was good.
I'd been looking up information online and visiting dealerships, but...
Had I known it would be like this, I should've at least brought my younger brother.
But that guy—whether he had work or something, he didn't come home this weekend and went straight to the office.
"Assistant Manager. I'm sorry to bother you on your day off. Do you have a moment?"
As I wandered around, I got a message from the Assistant Manager.
"What's up?"
"Ah, you replied right away...! It's just that I think I sent you the wrong file for the data organization. So I quickly fixed it and sent it again. You can just double-check that one."
"Got it. I'm outside right now, so I'll check it later when I get back."
"Oh, you're out? I thought you were resting at home. You worked so late yesterday, even on Saturday..."
When the price hit its ceiling at 40% on Saturday.
Instinct screamed at me, and I dumped all our holdings in that moment.
By then, it was already late at night, and everyone in the department, including me, had to stay late.
"Yeah. I thought about resting too, but actually—"
I briefly explained why I was out right now.
"Picking a car is tough, huh? I also spent ages researching when I was choosing one last time. Would you like some help?"
"Huh? Really?"
"Hehe. My knowledge might be limited, but thanks to work habits, I did a ton of research. Where are you? I'll get ready and come out."
The situation took an unexpected turn.
Had I known this would happen, I would've dressed up a bit more before coming out.
"Please bear with me if I take a little while! I'll get ready as fast as I can and come out, Manager!"
Since we were meeting so suddenly, she'd probably take some time to prepare.
This was the first time I'd be meeting the Assistant Manager alone, so I felt a little nervous, excited, and strangely giddy all at once.
"While I wait, then..."
The dealership I was about to enter before contacting the Assistant Manager.
The famous German company—Stumbagen.
One of my criteria for choosing a car was the body frame.
How well it could hold up in case of an accident.
Maybe it's because I've fully become a stockbroker, but safety was my first priority.
Well, when it comes to investing, I don't exactly prioritize safety.
"Stumbagen is unmatched when it comes to stability. Especially this lineup—the options are really well put together."
As soon as I entered the dealership, a salesperson latched onto me and started explaining.
"Can I take it for a test drive?"
"Of course. Go ahead. The ride will feel amazing."
The ride quality was indeed great.
No wonder it was an import.
"You like it, right? Stumbagen is actively developing eco-friendly models, and this one passed emission tests with flying colors. Above all, the fuel efficiency is excellent."
Should I go with this one?
I remember Dad liking these sturdy SUVs with thick frames.
I'll add this to the list of candidates and bring Dad later to ask him...
"Ugh!"
While gripping the steering wheel, I flinched and jerked my hand away as a sharp spark jumped at me.
"Are you alright, sir?"
"Ah, yes."
What was that just now?
Was it just static electricity?
No. It didn't feel like static.
Then, could it be...?
"Could you repeat the explanation you just gave about this car?"
"Ah, of course. Stumbagen was recently selected as Europe's top eco-friendly vehicle, and compared to previous models, this one reduces emissions by a full 20%—"
Zap—!
Another spark jumped out, sending a signal as if it were surging up.
"S-sir?"
"I heard the explanation well. I'll come back another time."
I hurriedly left the dealership.
I didn't know why, but the moment I heard the word "eco-friendly," a signal had come.
And a very intense one at that.
Could there have been something wrong with the car?
But Stumbagen cars had excellent reviews across the board.
"...Is Stumbagen listed in our country?"