[284]Pandemonium, Wall Street 5
Dubai’s payment moratorium declaration and the Korean financial sector’s crunch, Vice Chairman Jin Jin-ki cannot withstand this double pressure.
The Korean financial sector will work hard to collect bonds and there will be no extension of existing loans.
If there is a way out, I will block it.
“Howard. What are you thinking about?”
“Oh, it’s no big deal. “I thought for a moment about how much of an impact this situation would have on Korea.”
“By the way, you are also the manager of Sunyang Group. “I keep forgetting.”
“For now, yes.”
“What are you worried about? Even if the entire Sunyang Group bleeds due to this incident, you can still provide enough blood transfusion? No, it could be possible to bail out Korea’s entire finances?”
“I don’t like playing heroes like that. Oh, by the way, while I was talking… “Be prepared to send funds to Korea Miracle whenever you need it.”
“All $56 billion?”
“no. “I don’t think it will be necessary to that extent.”
“But the money from the swap is not coming in right away. know?”
“of course. It will be different depending on the financial company you signed with. My prediction is that all the money will come in by the end of the first half of next year. “The American financial world is so large that it will take quite a long time for it to sink.”
The 52,000-ton Titanic collided with an iceberg at 11:40 p.m. on April 14, 1912, and it took only three hours for water to enter through a hole and completely sink.
Some companies will hold out until the end, but most of the $56 billion will be collected before next spring.
“Then what about the money left after sending it to Korea? “Where should I invest?”
“Do what you always do. It would be better to buy blue-chip stocks without even paying attention to derivatives. “In particular, take a close look at Apple.”
“Looking carefully sounds like you have to buy it, right?”
Rachel immediately checked the market price.
“It remains at $15 per share.”
“It wouldn’t be bad for a long-term investment.”
“Did you by any chance see Mac World held in San Francisco earlier this year?”
“no. “Is there anything new coming out of Macworld?”
“It’s an electrostatic touch cell phone, it’s called an iPhone. “We will begin official sales soon.”
Is it out already? Wasn’t it next year?
“is it so? Then, should I buy one and take it back with me… .”
I later found out that the first generation iPhone OS, the first iPhone, did not come to Korea. We started using the second model.
Although Sunyang Electronics is powerful in the mobile phone market, it is only a fast follower in the smartphone era. Can we maintain our market lead this time too?
While I was lost in all sorts of complicated thoughts, Rachel glanced at me and spoke carefully.
“What about China?”
“china?”
“huh. “Actually, I want to open an office in Hong Kong and Shanghai, but I’m curious about your opinion.”
The CEO’s opinion, which makes the right decisions, must be followed.
“Do as you wish. “If you invest with a long-term perspective, you will never lose money.”
After keeping it for 10 years and earning more than 10 times the profits, will they buy up a lot of stocks held by Korean pension funds?
* * *
After confirming that a fund run (mass fund redemption) was starting on Wall Street, I boarded a plane to Korea.
Now no one can stop this situation. No one will pay attention to the funds pouring in, and prices will plummet.
When the default rate on mortgage loans exceeds 15%, the media starts talking about the fact that the U.S. housing market is in ruins. Of course, financial companies will stubbornly deny it.
They will tell blatant lies until the very end in order to repurchase even a little more of the funds in their hands.
When I arrived in Korea, I paid close attention to newspapers and news.
I couldn’t find a single article about subprime mortgage loans, and there were only a lot of articles about the opposition party’s presidential candidate primary.
As long as you go to the main election, winning the presidential election is a given.
The two candidates were busy biting their opponents, risking their lives as if the primary were a presidential election.
Although each other’s most fatal weakness was revealed to the world, they were busy erasing their weaknesses by completely denying it. But they also knew.
Even if all the secrets are revealed, as long as they win the party primary, they will go straight to the presidential inauguration ceremony in February next year.
Therefore, they had no hesitation in revealing each other’s secrets.
On the other hand, the ruling party had several candidates competing as if they were making a comeback, but no one was interested.
I also didn’t pay any attention.
“What is the redemption status?”
“We organized it in small batches so as not to affect the market. “There’s still a little bit left.”
Vice President Jang Do-hyung presented a list of financial products held by Sunyang Financial Group.
Perfect results raise doubts. Even if there is some loss, there are times when you have to ignore it if the overall profit is positive.
“The stock market will crash soon. Exclude Sunyang Group’s stocks. “If the stock price falls, you can buy it back.”
“What should we do with the remaining funds?”
“Just hold on.”
“Are you willing to take the loss?”
Jang Do-hyeong confirmed it again as if he was surprised.
“Shouldn’t we at least shed a sweat when others shed blood? “You have to be a lucky guy, not something weird.”
“Oh, I know what you mean.”
“The domestic market will fluctuate in the future. Tell your employees to never be swayed and to be very careful not to get caught up in hasty short-term investments. We do not make any evaluations regarding performance in the second half of this year. Let them know that no matter how good their grades are, they will not be considered advantageous in performance evaluations.”
It is a mistake to think that institutional investment is more advantageous than individual investment.
Individuals have a huge advantage. When market conditions are not good, you don’t need to invest, you can just put your money in the bank. At least I’ll get the interest.
But institutions cannot do that. Even if the economy is in shambles, we have to make money. Only then can the commission be collected and the company make a profit.
Putting money in the bank means playing instead of working.
Additionally, individual investors can tie up their money in one stock for one or two years. You can hold on to stocks that have fallen until the end and sell them when they rise.
However, institutions cannot just hold on to falling stocks. We need to quickly shake our hands and find other blue chip stocks. I know it’s okay to hold on, but I can’t help it because of year-end performance.
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Individual investment fails because it imitates institutional investment.
“Chief. “The view is nice, but shouldn’t there be work to do?”
“no. You have to play. When you’re under pressure in a plummeting market, you’re bound to make all kinds of mistakes. Oh, tell everyone to take a vacation. “It would be a good idea to use up all the annual and monthly leave.”
“Is that really okay?”
This is the first time Vice President Jang Do-hyung has said that it is okay for employees to have fun. He may be unfamiliar, but he may also be welcome.
“When you are confused, it is difficult to make the right decision when performance is weighing on your shoulders. “When he regains his cool, it’s never too late to work.”
Soon, this decision was of great help to Sunyang Financial Group employees.
A few days before the opposition party’s presidential primary, the KOSDAQ index plummeted by more than 10%. In the morning, the sidecar was activated due to a sharp drop in the futures market, and in the afternoon, a circuit breaker, which temporarily suspends trading of stocks and futures, was activated for the second time in history.
As many as 293 stocks hit their lowest prices, and all industries in the KOSPI also fell. In particular, large securities stocks plummeted by more than 10%, and even positive securities could not avoid it.
In the stock market, foreigners sold over 1 trillion won, while institutional investors bought a whopping 1.5 trillion won.
There was no fund run phenomenon.
Korea has only seen the phenomenon of the U.S. stock market crash and does not yet know the cause.
No, he may be hissing it out knowingly. It may be that blatant lies are rampant in order to buy time to pass the bomb on to the general public.
Mirae Asset Management said, ‘There is no major problem with our large stock fund,’ and UBS’s Asia manager spoke of attractive valuation and whispered sweet words that it would stabilize in a month or two.
Even though a bomb exploded at UBS’s U.S. headquarters and people couldn’t come to their senses.
“How much?”
Even to my simple question, Vice President Jang Do-hyung was lost in thought and stuttered to answer.
“Well, we bought $3.5 billion last week alone. Why did you do this… .”
“It’s okay because we’re not. And again?”
“More than 11 trillion won will be poured into domestic stock funds alone. “Overseas stock funds exceed 15 trillion won.”
“The domestic market will be cut in half and overseas will be reduced to toilet paper, so 20 trillion won will evaporate. “What is the size of U.S. derivatives?”
“Pitifully, the Korean financial sector cannot even accurately understand this. Because it is such a complex product, I don’t even know what it consists of. “I bought it blindly because Moody’s and S&P said it was AAA.”
“It’s nice to hear that. “Hehe.”
“yes? What is that… ?”
“Oh, no.”
He stopped laughing, not noticing Jang Do-hyung’s absurd expression.
“Vice President Jang. “There’s something I need to find out right now.”
“Please speak, Chief.”
“Please thoroughly investigate the trading banks of affiliates under Vice Chairman Jin Dong-gi. How much debt does each bank have and what is the collateral? And how much of a hit banks will take from this incident. “Even at the branch level!”
“A bank that is not an affiliate?”
“yes. Do you know why?”
Jang Do-hyung did not avoid my gaze and smiled slightly.
“You are trying to turn the financial pressure from the bank onto Vice Chairman Jinji.”
“bingo.”
A bank that has run out of money is not a bank. I have already had the terrible experience of going through the IMF and thinking that banks can fail and even be disintegrated.
This foreign exchange crisis will bring back terrible memories of the past for them.
“Then we should put our financial group’s surplus funds into that bank right now.”
It’s good to be quick-witted.
When the bank vault empties, even the money we entrusted is taken away. The only way to refill the coffers is to squeeze out debtors.
Banks that fail to meet their BIS ratio, or equity capital ratio, are more brutal than unscrupulous private loan sharks.
Private loan sharks destroy individuals, but banks destroy businesses.
Forgetting how many family members the company has and the fact that they can be revived with just a little extra money, they begin a ruthless recovery operation to survive.
“I will also deposit Korea Miracle’s funds in that bank. “If you take away all of it at the most optimal time, you won’t be able to come to your senses.”
Vice President Jang Do-hyung thought for a moment and then quietly opened his mouth.
“Vice President Jin Dong-gi… . You’re going to have a hard time this time. By the way, manager. What is your goal this time? It used to be a cruise card… . What affiliate are you targeting this time?”
“Not an affiliate.”
“yes?”
Vice President Jang Do-hyung’s eyes twinkled as if he was trying to read my thoughts.
“I plan to catch a big fish this time. “It’s not the company, it’s the people.”
His eyes widened.
“Could it be Vice President Vibrator…?” ?”
“yes. My second uncle, you worked really hard, but now you need to get some rest. “You will have to decide whether to retire completely or continue to serve as vice president as a professional manager under me.”
There is no way he, with his strong self-esteem, could continue to hold the superficial position of vice president.
I also plan to leave some affection behind. His two sons will have the opportunity to continue working as Sunyang’s workers.
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