Chapter 61
Chapter 61
Everyone was embarrassed except for Taek-gyu, who he already knew.
Ellie asked, blinking her eyes.
“A bet? Which side?”
“You said it. Betting on Brexit.”
“So… ah!”
Hyunjoo’s older sister looked surprised.
“Are you going to bet on the UK leaving the EU?”
“Yes.”
Senior Sangyeop said in a loud voice.
“Come on, wait! What does that mean? Isn’t it almost decided to stay?”
“Are you sure? I haven’t even voted yet.”
Naturally, everyone was expecting to stay. In this situation, I need grounds to claim my resignation alone.
It was in order to find the evidence that I had been looking through the data for a month and receiving the report. Convincing others is also a problem, but before that, I need to convince myself first.
“The UK will leave the EU.”
Ellie asked as if she didn’t understand.
“Professionals are different.”
“There is no one in the world as untrustworthy as the financial experts.”
If it had been as they said, the whole nation would have sat on the money cushion.
“The polls are also left behind.”
“European parties are conservatives. Conservatives are reluctant to reveal themselves as conservatives. There is a saying called Shai Tory.”
Shy Tory is a term used to refer to the UK’s hidden conservative vote.
Remaining is a positive feeling of accepting other races and supporting the integration of a united Europe, while leaving gives a negative feeling of being a racist who expels migrants and refugees, and a schizophrenic who prevents European integration.
Therefore, when others ask a question, they often say something different from their true intentions or avoid answering the question.
“Economically, if you calculate profit and loss, you will be right. But this is a political matter.”
The fact that the EU’s compromise proposal was submitted to a referendum in the first place was itself a political calculation.
Secessionist politicians kept their mouths shut about the side effects of Brexit and shouted that a new era would open if Britain left the EU.
Their argument is to block or expel the influx of immigrants and refugees, to break free from the EU’s unnecessary regulations, to find British independence, and to use the large amount of money they have given to the EU for Koreans.
It seems like a rosy future will unfold just by listening to them.
I don’t believe what financial experts and politicians say.
“More than anything else, voters hate the issue of immigration and refugees.”
Ellie nodded her head.
“That’s right. It’s been a while since I’ve been to London, and the look of London has completely changed. Most of the janitors and workers are from Eastern European immigrants who do not speak English well, and there are many who feel repulsed by this situation.”
It is the same in Korea. It is no longer unusual for a Korean-Chinese aunt to work in a restaurant.
Even if you go to Daerim-dong right now, it’s confusing whether this is Korean or Chinese, and areas with industrial complexes like Ansan are overflowing with workers from Bangladesh or Uzbekistan.
There are people who want to accept them as part of our society, while others have a negative view that foreigners come in, take their jobs and cause crimes.
“And the pride of the British was hurt a lot.”
Britain was once a great empire where the sun never sets. Now, the glory days are over, but the status the British Empire enjoyed remains the pride of the British.
However, Germany is currently the most influential in the EU.
Britain has asked the European Commission for powers to stop the influx of migrants, but the German Chancellor has rejected the request.
Freedom of movement between EU member states must be guaranteed, and the UK must leave the EU if it is not accepted.
Instead, they offered compromises in other areas, but Britain’s pride was already crumpled.
The refugee quota system, which was discussed this time, is also being carried out by Germany, almost ignoring the British intention.
This is likely to cause dissatisfaction with how different it is from being ruled by Germany, and a self-helpful sigh about how Britain has become a country that cannot even control its borders at will.
To them, the slogan of politicians to leave the EU and return to the days of a sovereign state sounds attractive.
In the end, taking these factors into account, it is not impossible for the secessionist faction to win.
Hyunjoo noona, who was quietly listening to the conversation, said.
“There is a point. It’s an atmosphere where far-universalism is convinced all over Europe these days. Still, the scale is still tilted towards the residual wave.”
“It’s good for us.”
Taking horse racing as an example, a horse that everyone predicts wins has a small payout. However, if a horse no one expects wins, the payout is multiplied hundreds of times.
That’s just the situation right now.
When everyone is talking about staying, I’m the only one shouting Brexit at the center of the world. You’ll be treated like crazy for a while, but things will change by the time the results come out.
I handed out the materials I had prepared at home.
“I came up with a broad strategy, so please prepare detailed tactics.”
Hyunjoo noona and Sangyeop senior read it and couldn’t hide their shock.
Senior Sangyeop said in a bewildered way.
“Come on, wait. is this serious? Are you really going to do this?”
“Yes.”
Hyunjoo’s older sister shook her head.
“This is too dangerous.”
“The vote is passed, and Brexit will happen. So trust me and follow me.”
Foreknowledge is the single most sure evidence than numerous evidences. But I can’t say this.
The core of my strategy can be summarized in two ways. First, get a loan as much as possible. Second, leverage as much as possible.
Fortunately, there is an excellent (?) derivative product in the foreign exchange market called the Foreign Exchange Margin.
If you use this, it is possible to bet 10 times or more of the capital you have.
Everyone’s faces turned white.
Ellie had a look on her face that she didn’t understand.
“Why? Jinhoo has made enough money so far. If I had to start all over again, I probably couldn’t have done better than that. But now, why are you making such a risky investment?”
she’s right
For a few days I also struggled with that problem.
Currently, the estimated assets of OTK Company are about 10 billion dollars. If the subsidiary K Company is included, it is about 11 billion dollars.
About 12 trillion won in Korean Won.
80% of this is my stake, so my assets amount to 9.6 trillion won.
This is enough to be in the top 10 in Korea’s richest people list. Over time, companies will continue to grow, and my assets will continue to grow.
Is it necessary to make an unreasonable investment in this situation? Can’t we just sit back and wait for our wealth to grow?
But······.
An opportunity to rob the global financial market has arrived.
As I told Taek-gyu, this is an opportunity of a lifetime. I don’t know if an opportunity of this magnitude will come in the next few years, and if it does, there’s no guarantee I’ll be able to foresee it.
So, you should never miss this opportunity.
I looked around everyone and said.
“When the opportunity to make money comes, you have to make money. Do you need any other reason?”
If I had not known the timing this time as in the L6, I would have avoided investing in derivatives. However, for now, the exact timing of the voting day has been confirmed.
If you are sure, you must be prepared to die and rush. Investing in moderation and just looking around is not my temperament.
Senior Sangyeop said groaningly.
“If you fail, you will blow everything away. OTK Company and K Company will all be disbanded.”
I looked at Sangyeop senior and asked.
“Do you remember last winter?”
“······Huh?”
“At that time, neither my seniors nor I had any money. But less than two years later, I got to where I am today. How do you think that was possible?”
If you didn’t accumulate put options during the L6 event, how long would it take to create 600 billion won?
If we hadn’t earned so much at that time, we wouldn’t have even dared to invest in startups after that, and our assets wouldn’t have grown to $10 billion.
In one year, the world has changed rapidly. There will be more opportunities in the future, and more money is needed to not miss them.
“If you blow it all away, it’s enough to start all over again. What are you worried about?”
Senior Sangyeop loosened the tie that was holding his neck. Then he drank the glass in front of him at once.
“You’re right. There must be good reasons to be sure of Brexit, and if you are sure, you should move. I’ve been playing with some money, so I guess I’m full.”
Before I knew it, the senior Sangyeop had the look he had when he came to ask me to hire him in the past.
Hyunjoo noona sighed, he said.
“Have you ever made a decision?”
“Yes.”
“Then I will follow the CEO’s decision.”
Taehyung raised his hand.
“Of course I agree.”
Ellie made a face that couldn’t be helped.
“There isn’t much I can do to help, but I will support you nonetheless.”
“Thank you.”
I said as the CEO of OTK Company.
“Let’s make some money from now on.”
* * *
Josh Harrington, head of the London Exchange.
While monitoring the foreign exchange market, he noticed a strange trend. The number of pound sell-offs has been pouring out since a few days ago.
“Where the hell did this order come from?”
He gave instructions to his chief dealer, David Enoch.
“Check it out.”
Asking a financial company does not directly provide information about customers. But if you look carefully at the flow of money, it’s not difficult to determine where the money is coming from.
David reported to Josh.
“This is OTK Company.”
“Huh?”(Read more @ wuxiax.com)
It was a name I had never heard of.
OTK Company first appeared in the financial market during the L6 explosion in Korea. Just before Seosung Electronics’ premium phone L6 was discontinued due to an explosion, a specific company bought a large amount of Suseong Electronics and KOSPI put options.
On the day of the crash of the Korean stock market, so-called Black Tuesday, the company made more than $500 million in profits.
Based on that capital, he started out in venture capital about a year ago, and the value of the companies he held soared day by day and grew in size.
There is probably no one who doesn’t know the name of OTK Company among those who have strong bones in the financial market.
However, not long ago, OTK Company took out a loan by entrusting its stake to financial companies as collateral. Rumors spread throughout the financial world, with the loan amount exceeding $10 billion.
What the hell did you borrow so much money for?
“Are you pouring money into the foreign exchange market?”
The exchange rate is closely related to the economic power of a country.
The UK plays an important role in the global economy, and the pound was treated as a semi-key currency along with the euro, yen, and yuan.
Therefore, it is not easy enough to be swayed by foreign exchange speculators.
Is selling the pound predicting a depreciation of the pound?
“I want to know more about this.”
A few days later, when Josh found out, he was astonished.
OTK Company was not just selling spot, but trading FX margin. 10x leverage to make $10 billion into $100 billion, then bet.
It was like crazy.
If the pound rises 10% as expected, you will lose all of your investment.
Josh was dumbfounded.
“What are these otakus thinking?”
* * *
similar time.
The opposite happened at the Tokyo Exchange.
It is said that the exchange rate is set by the market, but the government is among the market participants. The government intervenes in the market by selling dollars and buying local currency when the exchange rate rises too high, and selling local currency and buying dollars when the exchange rate goes down too much.
The yen is one of the important policies of the current government.
The government continued to buy dollars to devalue the yen, but the exchange rate was falling.
This is because certain forces continued to sell dollars and buy yen.
“Who is the buyer?”
“This is OTK Company!”
OTK Company sold pounds on the London Exchange, while buying yen on the Tokyo Exchange.
It was clear what this meant.
Hitoshi Yamazaki, the head of the Tokyo Exchange, muttered as he watched the influx of buy orders.
“Are you betting on Brexit?”
