The Magician’s Memorial - Chapter 388



Only Krnovel

388. Timing (3)

The scenery on the way to work hasn’t changed much, whether it was before or now.

The scene in the chairman’s office was the same, and even though news from around the world could be viewed on smartphones, newspapers from major countries were always spread out on the desk every morning.

It was a landscape created by my grandfather, who had a dream of going global.

That’s why I’ve maintained that scenery until now.

Thanks to that, I was able to check the article on the front page of today’s New York Times as soon as I got to work.

“Dimon is good at taking photos. Looking at the photos, he looks like the CEO of America’s No. 1 financial company.”

“After hearing the story, I heard that she had almost two hours of makeup done. Look at the difference in the color of her neck, face, and skin.”

Together with a CEO, I stared at Dimon’s face on the front page of the New York Times.

After looking at Dimon’s face for a while, I read the article.

“The consortium’s acquisition of two oil companies is a hot topic even in the United States.”

“As shale companies continue to go bankrupt, there is a lot of media interest in oil companies. Now that a savior has appeared in the collapsing oil industry, shouldn’t there be even greater interest?”

Dimon finalized the contract on behalf of the consortium.

Because the CEO of America’s No. 1 financial company personally stepped forward, the value of the name never decreased.

In fact, it would have been possible for Dimon to step forward rather than me to suppress the backlash from the American people.

“It’s a little burdensome that the media is pushing the consortium as the savior, when it could be resold at any time.”

“Wouldn’t it be better if you wrote it in a provocative way so people would read the article? You can attract attention by making it a hero or a villain.”

“Well, I’m just satisfied that there is no opposing public opinion.”

In fact, there were no closed areas in the US market.

However, after the Lehman incident, the acquisition of American companies by foreign capital was naturally accepted, and thanks to this, the acquisition of oil companies was able to proceed without major problems.

“With funds amounting to $50 billion being invested in oil companies, there can be no opposition. The U.S. government is also actively pursuing this, so the media is also supporting it.”

“The media and the U.S. government are supporting it, so we should act accordingly. The time to have fun by shorting crude oil futures is over. Starting today, we can ride the bull market.”

The price of crude oil was at its lowest point.

Although it will be maintained as is for some time, greater profits can be achieved by securing the quantity in advance.

“Already, many employees of Taewoo Securities are purchasing crude oil futures at random. Although it will be done sequentially, over $5 billion in funds will be invested within this week.”

“Five billion dollars isn’t bad.”

“We ultimately plan to invest up to $15 billion by early next year.”

The price of crude oil fell to $38.

There was a high possibility that it would recover to $50 in the first half of next year.

If we wait more time, it could even surpass $60.

However, since crude oil futures are not a long-term investment, it would be better to see profits only until the first half of next year and then exit.

“If you use leverage, you can still do quite a bit of business.”

“Shouldn’t we eat twice as much even if we can’t do it? And we are researching ways to make profit in various ways.”

When you are planning your next step while enjoying a cup of coffee.

I got a call from David. David didn’t usually call at this hour, so he knew something was up.

“What happened?”

[boss! Short selling forces have begun to move. Canos has attracted a large amount of private equity funds, and the funds are being gathered in one place. The attack will begin this afternoon at the latest.]

It was David’s urgent voice.

Because David had so many information sources on Wall Street, he was able to obtain information faster than anyone else.

It must have been David who contacted me as soon as he received the information.

However, unlike him who was in a hurry, I answered leisurely while drinking coffee.

“What am I going to do again? Tell them to sell short. It will show them the price of making money against us.”

[Aren’t you being too relaxed? No one else but Kanos, the king of short selling, made the move!]

“The king of short selling is a piece of shit. It’s an excessive title for someone who has already experienced many failures. Since he has lost once, shouldn’t he be demoted to a noble rather than a king?”

[Seeing that you’re joking, it looks like you’re really prepared. I was the only one making a fuss for no reason.]

I expected it, but I wasn’t really prepared for it.

It wasn’t because I was arrogant or conceited.

I own 70% of the shares, so what more can I prepare for here?

“There are sufficient preparations. By the way, how much do you say the Kanos forces are mobilizing?”

[There are rumors that more than $5 billion will be invested.]

“I really think he should be demoted to a nobleman instead of the king of short selling. Only $5 billion to attack Taewo Group? That’s too small.”

[The amount that Kanos moves is $5 billion, but when he moves, other hedge funds also move. If that happens, it will only be a matter of time before $10 billion is raised.]

Five billion dollars was by no means a small amount.

It was a huge amount of 6 trillion won, which was too much to attack one company with short selling.

And the same would have been true even if Kanos increased its power and invested $10 billion.

This is because Taewo Group had the ability to defend itself even if it invested more than $30 billion, not $10 billion.

“Thank you for the information. If any new information comes in, please contact me at any time.”

[I don’t think the boss will need any information, but I’ll try to gather it.]

It was David who hung up the phone a little abruptly.

It was by no means ignoring his ability, it was just a fight where we had too much of an advantage, so I wasn’t excited about it.

“A game that is too one-sided is not fun.”

“That’s right. No matter how much the short selling forces throw at us, we can take it all. If that happens, hedge funds won’t be able to keep up.”

“Then the fight will end if we only have to defend the 5 billion dollars from the Kanos forces.”

“Even if additional funds are invested, it is likely to be less than $10 billion.”

These fights were so boring.

A fight that is not fun is bound to fail at the box office, and the effect of setting an example is reduced.

“I need to make the board a little bigger.”

“What do you mean?”

“In the beginning, it appears that we are not able to properly defend ourselves. Then, wouldn’t hedge fund forces cling to us? Among them, there could be financial companies from financial towers.”

“They may do anything for money, but do they really have to bite the person who feeds them?”

“You’ll know when you watch.”

War against short sellers.

In fact, there was no need to call it a war.

It could be seen as a kind of play, and the most important thing in play was fun.

I made a plan with the CEO on how to make it as fun as possible.

* * *

James Canos.

He had been on Wall Street since the 1980s and was known as a legend in the hedge fund world.

There was a huge amount of money gathered in the Canos Company fund he established.

Today, several hedge fund representatives gathered at his company.

“Taewoo Group overextended themselves this time. They have taken over large oil companies one after another without being able to properly resolve what they have done so far, so they will suffer from a lack of funds.”

“Still, it is Taewo Group. We can overcome the crisis just by selling the stocks we own.”

“That’s exactly what I want. When management starts selling their stock, the stock price tends to fall rapidly.”

It was close to a kind of briefing session.

It was Kanos who explained to the hedge fund representatives what he was trying to do and suggested that they attack Taewo together.

“So, will it make money? It means losing money with the Taewo Group, so there is no reason to do it if the profits are low.”

“Of course, it would make money, so wouldn’t we have invited you all like this? In the case of Hess, which Taewu Group acquired, the merger and acquisition has not yet been completed. Although it is part of Taewo Trading, it is still listed on the U.S. market under the name of Hess. .”

“You’re saying we should focus our attack on Hess.”

“Following Hess, we have planned to attack Taewo Trading and further Taewo Group. If all three stages of the plan are successful, we can promise you a profit of at least 400% or more.”

400% return.

It was a number sufficient to make hedge fund representatives’ hearts flutter.

However, since they were people with a lot of experience, they were not completely taken in by the numbers they only talked about.

“If there is a high probability that things will go as planned, then plans and reality are always different.”

“I collect all the information before proceeding with short selling. And I have been observing for a long time that Taewo Trading Co. is seeing trillion-dollar losses every year. A huge amount of money is being spent through ‘rocket’ internet commerce and underground resource mining. This includes oil. “The moment a company is added, no matter how Taewu Group it is, it cannot survive.”

Kanos spoke while showing the actual indicator.

Hedge fund representatives who checked Taewoo Trading Company’s financial statements could not keep their mouths shut.

The deficit was more serious than expected, and it seemed impossible to turn a profit in a short period of time.

“If you look at the performance alone, there is definitely a problem. However, considering the power of the Taewo Group, it is difficult to step forward now.”

“What if there is an insider? Two financial companies located in the financial tower have decided to join us. Internal information is coming to us in real time.”

“Hmm, then it wouldn’t be that bad. But wouldn’t it be possible to completely find out the internal information of Taewo Group just because it is a financial company located in a financial tower?”

It wasn’t wrong.

Therefore, Kanos presented a proposal that could gain complete trust.

“Then, Kanos Company will attack first. You can decide after looking at the situation.”

“You’re saying you’ll give it time.”

“The profit you can gain by attacking Hess is not that much. However, the moment Hess falls, Boss Taewoo will fall and the Taewo Group will fall like dominoes. So, you can make your move after making sure the first domino falls.”

Hedge fund representatives nodded.

It was a proposal in which they had nothing to lose.

If Hess’s stock price fell, all he had to do was join hands with Kanos, and if the opposite situation occurred, all he had to do was withdraw.

“When do you plan on hitting the first domino?”

“It starts in three days. Hess has now been sold to Taewoo Group, and its stock price is rising rapidly. It will reach its highest level in about three days.”

“To fall, you have to fly first. Let’s see how Hess falls.”

“It would be a waste to just watch. You are welcome to join us at any time, so just contact us.”

Kanos was full of confidence.

He has done numerous short sales so far, and has never seen an opportunity as good as this one.

Worst performance, quantitative expansion, and even the trend of the times.

It was Kanos who sharpened his skills after failing to short sell Tesla.

He needed to use this opportunity to restore his damaged reputation, and chose Taewoo Group as his prey.