[197]Never Forget. One
On August 23, when the hot summer was winding down, the IMF management system ended when the government repaid the entire $19.5 billion IMF bailout loan.
The government once again comforted the people for their pain and hard work, saying that Korea’s crisis was completely over, and did not forget to congratulate itself.
However, the crisis is over, but Korea has crossed a river of no return.
The concept of a lifetime job has disappeared and life has changed to the weight of money.
Money has become the greatest value, and consumption has degenerated into a means of showing off wealth rather than a means of living. The word ‘luxury’ has suddenly become more natural than the word ‘luxury’.
Restructuring increased employment instability, non-regular workers, and income inequality, leading to a sharp decline in labor income.
As wealth inequality increased, the phenomenon of the rich getting richer and the poor getting poorer began.
On the one hand, domestic demand was sluggish due to a decline in consumption by the poor, while on the other hand, a large amount of liquid capital was formed. Massive floating capital worth hundreds of trillions of won moved from the stock market to real estate after the collapse of the IT boom, sparking a nationwide real estate speculation frenzy.
Of course, the current real estate craze is a global phenomenon.
The ultra-low interest rate policy from the United States supplied excessive liquidity to the market, and one of the factors was that this liquidity flowed into the real estate market, causing a bubble.
But whatever the cause, the results are disastrous.
Now, a generation has emerged that has to give up even owning a home.
Actually, I wasn’t interested in the special program about overcoming the IMF that was being talked about on TV. I couldn’t see anything else because of what was going to happen exactly 19 days from now.
The stock charts and status boards for the US, Japan, and Korea that filled the monitor all seemed useless, and all I could see was endless hesitation and a lost mind.
My hands holding the keyboard and mouse hesitated for one reason.
Is it right to take advantage of the opportunity presented by someone else’s tragedy?
It is someone else’s tragedy that cannot and should not be prevented anyway. Someone… . No, among the tens or millions of people who have immersed themselves in the world of investing, some will make money and many more will lose money because of this tragedy.
I too am immersed in this world.
You must stand on one of the two. But isn’t it possible to be on the losing side? If I lose money, doesn’t that mean I’m intentionally walking into a losing position?
I had already decided which side to be on, but I wanted to avoid the unscrupulous people who make a lot of money by taking advantage of other people’s tragedies.
In the end, it’s a matter of how much money you make.
I didn’t want to get to the point where I was pointing fingers at myself.
f*ck, it’s my grandfather’s style to close my eyes and scream at times like this… It was a long way to catch up.
I steeled myself and stared at the monitor.
After checking the strike price of the put option, I pressed a number on the keyboard.
Even if you bet a huge amount, it will only upset the odds of the gambling board. I chose an appropriate amount that no one would pay attention to and placed my order.
How will this number change?
In the past, I didn’t have much interest in stocks.
So I don’t even know the stock price on September 12, 2001. All I know is that there is a big crash. It’s just plain common sense. Ten times? Twenty times? How many times will it be?
I shook my head. To think about the money that will already come in… .
After resetting the computer, I logged in to overseas investment mode.
After selecting Japan, I entered a higher number than before.
I reset it again.
The US stock market, financial products, and derivatives greeted me with sparkles, but my hesitation grew.
I just turned on my computer.
Let’s just defend here. This much is enough.
* * *
Tuesday September 11th.
Tragedy occurred when SES and Shinhwa reached the top of the popular music charts one after another.
At 9 p.m. Korean time, it was time for office workers who finished their day’s work to unwind by eating pork belly and drinking soju, or chewing dried squid and drinking beer.
The same morning, at 7:59 AM, American Airlines Flight 11 took off as usual with 92 people on board.
Just 15 minutes later, air traffic control in Boston attempted to contact American Airlines Flight 11 (AA11), but AA11 did not respond for over 10 minutes.
After a while, the controller said, “We hijacked the planes. If you stay still, you will be fine. We hear a message saying, “We are returning to the airport.”
And Flight AA11 disappeared from radar over New York.
At 8:13 a.m., Logan International Airport’s eastern control tower cleared United Airlines Flight 175 for takeoff. And 30 minutes later, the hijackers stabbed the captain and first officer to death and took the controls.
At 8:46 in the morning, when New Yorkers were busy rushing to work, a plane suddenly crashed into the north building of the World Trade Center.
It was American Airlines Flight 11 that disappeared from radar.
At 9:03, when the burning of the North Building was being broadcast live around the world on television, with countless people’s eyes and broadcast cameras all facing the building, United Airlines Flight 175 crashed into the world at a speed of 872 kilometers per hour. It crashed into the south building of the World Trade Center.
* * *
On this day, I stayed in the office all day. Even after everyone got home from work, I sat blankly with the TV on.
In the end, history flowed straight without disruption, and after 10 p.m., all broadcasting stations began to pour out urgent breaking news.
When I saw the breaking news, my heart ached.
But this feeling did not last long.
This is because both people who were relaxing at home watching TV and people who were having a drink at a bar in Yeouido flocked to the office.
They all switched on their computers and started checking the monitors. Of course, I didn’t miss CNN’s breaking news.
At this moment, all of Miracle’s managers and above must have gone to work.
I pressed the intercom.
“Everyone from team leaders to the conference room.”
I slowly got up and went to the conference room.
The conference room had a fishy smell of alcohol, probably due to the number of people who rushed in after drinking.
“I think everyone has seen the breaking news. So, he must have rushed to the office at this time.”
The people who were already gathered were looking at me with disapproving expressions as I told them to gather in the conference room at a moment of regret.
“I ‘instruct’ one of the most important rules. If anyone violates my instructions, I will fire them. “Keep that in mind.”
At this time, the conference room door burst open and Oh Se-hyeon rushed in.
“hey! “Have you seen the news?”
Oh Se-hyun, who was shouting, quickly shut his mouth. This is because the silence in the conference room replaced the answer.
“Oh, CEO. “Do you have anything to say?”
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This is someone who will understand what my very polite and businesslike tone means.
“no. “Keep talking.”
“yes. then.”
He looked around at the people again and said.
“My instructions are very simple. Even if the stock market opens tomorrow morning, act as you normally would. In other words, you shouldn’t think about this situation a moment ago. “There are no sell orders.”
“omg! Manager! that is… !”
“It’s not possible. A stock market crash is obvious. “We need to sell as much as possible as quickly as possible.”
As expected, the backlash was severe.
These are people whose incentives are determined by performance. Since I received an incentive several times higher than the salary stated in the contract, I would feel that my decision today was unfair.
“Everyone be quiet! Anyone who interrupts Director Jin Do-jun’s speech from now on will be cut off right here! “Listen to the end and follow Director Jin’s instructions unconditionally!”
When Oh Se-hyeon opened his eyes and shouted, the conference room was filled with a cold atmosphere.
When I made eye contact with him, I narrowed one eye.
“If there is a request from a customer who wants to sell, please do as they wish. However, it should not be sold arbitrarily. In particular, we must hold on to the stocks held by our capital.”
The employees with stern expressions lowered their heads and seemed to be suppressing their dissatisfaction.
“Especially for blue chip stocks, keep buying them before the market closes. “It will definitely hit the lower limit, so you shouldn’t hesitate.”
Saying any more is just repeating the same thing and becoming nagging.
“I know what you’re worried about. However, the stock market returns to its original state after a few days. There is no need for us to get excited just because others are excited. That is all.”
As soon as they finished speaking, everyone ran to their seats. Be sure to check out the latest breaking news. They won’t be able to leave until tomorrow.
After everyone left the conference room, it was just me and Oh Se-hyun.
“Aren’t you crazy?”
“It’s very normal.”
“Then that’s it.”
Oh Se-hyeon let out a long yawn and turned around.
“Thank you for your hard work. I’m leaving work. I’ll see you tomorrow.”
“Is this the end? Is there anything else you want to say?”
“I guess you judged well. I have a lot of places to call in America. I need to convey my condolences and regrets. By the way, you should also give Rachel a phone call. “A lot of Rachel’s acquaintances work at the World Trade Center.”
“yes. I plan to do it in two or three days. “Can you hear my consolation now?”
“Anyway. Anyway, you had a hard time.”
I sat blankly for a moment in the empty conference room where Oh Se-hyun had disappeared.
I stood up again.
This is not the time to get lost in sentimentality. It’s not over yet.
I left Yeouido and ran to Sunyang Securities.
* * *
When I gave the same instructions as I had given at Miracle, Sunyang Securities CEO and Vice President Jang Do-hyung started looking at me with a puzzled expression.
“I take full responsibility. “Please follow what I say.”
“Chief. As you may have seen on the news, this is terrorism. Will America be silent? “I will be willing to go to war.”
“With where?”
“yes?”
“Where do you mean war?”
“Yeah… “Isn’t this a terrorist group?”
“What is the probability that the United States will lose if it goes to war with just one terrorist group?”
Jang Do-hyung couldn’t answer.
“This is so shocking that it is inevitable that it will cause a big stir. But look at it calmly. There are no simultaneous terrorist attacks across the United States. The US government won’t let that happen. Rather, if a terrorist group starts attacking, stock prices will quickly recover.”
“Chief. “Wouldn’t it be okay to check the U.S. stock market before making a decision?”
The CEO of Sunyang Securities, who had been listening, quietly opened his mouth.
“For the time being, America-centric is closed. “It won’t be open for at least four or five days, so we have to decide.”
“Closed… ?”
“Wall Street is a pillar of the American economy. “It is better to avoid storms.”
“hmm… . Vice President Jang.”
“yes. president.”
“I will follow the director’s opinion. When it comes to investing, aren’t you an expert who is several levels above you and me?”
The president is as experienced as his age.
Even though he expressed his opinion very briefly, he must have been shouting three cheers in his heart.
I took the lead in blocking the enormous shock wave.
How happy would it be to hear that I, the owner’s family member and major shareholder, would take responsibility for everything during a time when there was a high possibility of things going wrong?
* * *
After returning to Yeouido, I stayed up all night and kept checking CNN breaking news. It’s not just me. Last night, the lights of not only Yeouido but also large buildings did not turn off.
No one knows how this situation will spread, so everyone is staying in the office and preparing for a new situation.
I waited anxiously for the stock market to close all day.
Until closing time on the 12th, it was a day where stock markets around the world could be described as plummeting.
The employees gathered in groups of twos and threes with a long sigh and ran to the sauna.
A short rest is necessary for the long battle that will never end.
Before checking the stock market closing today, I first checked the results of the secret work I had done on my own a few days ago. When I displayed the results of the put option exercised today on the monitor with slightly trembling fingers, my mind went blank. Numbers written closely together and commas between the numbers.
My head was dizzy.
How could this happen!
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