Chang said, "Now let's buy a company, fix it, and sell it again."
Until now, this is an area that we have not been able to touch because it costs a lot of money and takes a long time to recover funds.
I asked.
"I heard M&A at the bankrupt listed company has too many unexposed debts. There'll be a lot of things to watch out for."
I think we should consider taking over a company that has been placed under court receivership. Court-managed companies report their bonds to the courts, so they'll still be transparent."
As the company's funds increased, Jang seemed to have been tired of touching off over-the-counter stocks or theme stocks of companies scheduled to go public.
However, investing in blue-chip companies that fall into the KOSPI's category or those that fall into the U.S. S&P 500 seemed less interested due to the yield.
It was also hesitant to invest in China's Hu Gang Tong or Sun Gang Tong's companies due to their poor information.
But I found it funny that when my homeroom pastor prayed at the church, Chang replied, "Amen."
"Does Mr. Zhang attend church? When I saw the elder pastor at the end of the prayer, he shouted Amen."
"My wife is a Christian. I've been to my wife's back rice once or twice, but not anymore."
After Chang left my room, I pondered.
"The former head of the Shanghai branch of the securities firm in Shanghai, China said to open the Shanghai branch of J.S. Invest, right? You said you'd do the manpower support, right? Shall we give it a try?”
It seemed like it wouldn't cost much money to set up a branch in Shanghai.
I thought I could get an office in the Podong district of Shanghai and hire two or three employees.
But now I can trust the employees who work with me, but the outsiders quickly didn't trust me. I just thought about what to do if there was a financial accident.
I thought I'd rather promote Song or Jung next year and send him to the Shanghai branch manager.
The next day at coffee time I announced that 30 billion church funds had come in.
"A large church in Gangnam, which canceled its third fund yesterday, invested 30 billion won in the third fund."
"Wow, 30 billion?"
"We've got 30 billion won and now we have 67.2 billion won in operating assets. I think we've almost reached 10 billion won in operating assets per person. However, attracting funds is important, but management is also important. You have to study how to make it work."
"But isn't that church a place of this and that? The last 5 billion we invested in was re-sold in a month."
"So we've strengthened the penalty clause in the event of a mid-term cancellation. We've banned them from resale for six months."
Choi Yuna said.
"Now it's time to think about M&A if you have 67.2 billion in assets."
Chang said.
"That's M&A. Is that easy? Is there any company that comes to your mind, Choi Yuna?"
31 years after entering Korea, Pizza Hut's Korean unit has been put up for sale in the M&A market. Shouldn't we approach him?”
This time, Chung said.
"I've studied a bit about the restaurant franchise. The sale price may also be too high for us to touch. The restaurant franchise business has also fallen sharply in the last two to three years due to excessive competition and reduced consumer preference for junk food."
"So you're telling me not to?”
"That's what I think."
"Then is there a merger and acquisition company that you think?"
"No, there's a lot of companies on the market, but we have to analyze and get in. If something goes wrong, we're going to go in with our customers' money, and if we lose money, we're going to lose our annual income, and we're going to have problems with our survival."
"I like Pizza Hut..."
"The top three fast foods in the U.S. - McDonald's, KFC and Pizza Hut - are all on the market. You have to rethink the acquisition."
"That's close..."
When Choi Yu-na seemed to fall behind Chung in theory, Chang said.
"Mr. Choi, how's Tesla's stock prices these days? You recently made a Korean homepage to sell the new cars.”
"It's not good right now. American journalists have different forecasts. Some are optimistic and others are pessimistic."
"Is that so?"
"But there's someone who lives in Gangnam who entrusts 500 million won to buy Tesla."
"Really?"
"I'm pessimistic now, but they're sure it'll come out in three years."
"The long-term investment in stocks is bound to win. That's why the legendary securities magnate, Mrs. Baek, said the same thing, right?
When I heard about Mrs. Baek from her mouth, I felt a prick inside.
Choi Yu-na did not seem to know who Grandma Baek was.
"Who is Grandma Baek?”
"Once upon a time, there was a legendary hand that moved the nation's stock market."
"But she's a grandma?”
"It was my grandmother, who earned money from penicillin business during the Korean War, and later was the big hand in the Myeong-dong private loan market. After that, she made a lot of money by buying only construction stocks, and she was a grandmother who only chose blue-chip stocks and soaked them for two or three years.”
"Really?"
"At the time, it was probably before Yuna was born, but there was also a rumor that she was moving a third of Korea's stock exchange.”
"Oh my! A third of the deal? What a legendary old lady. Oh, I want to be that kind of grandmother."
"I think Yuna will. Anyway, Yuna, you're doing a good job on American stocks.”
I said.
"Choi Yuna is a person who can understand American broadcasting in English. Watch carefully the upcoming TV debates of U.S. presidential candidates."
"Okay."
"The stock prices of S&P500 companies will fluctuate depending on what Republican Donald Trump and Democratic Hillary Clinton claim. Please take a look at the reviews from the U.S. economic experts, take a note of the important information, and report to me and Mr. Chang."
"Okay."
Before I knew it, Morgang Tech's general meeting came.
The general meeting is attended by all shareholders.
Most minority shareholders, however, do not attend. Moreover, few people came to the meeting because the venue for the general assembly was Anseong.
They also receive a letter of attorney for shareholders who do not attend the meeting, which is to prevent the general assembly from being established because they cannot fill the quorum of the doctors.
I went to Ansung with Zhang by Benz Mybach.
I came to Anseong factory a few times and the guard now recognized my face.
"You're not the director and thank you?”
"Good work."
I went to the auditorium with Chang.
The staff guided me at the entrance.
There were quite a few people in the auditorium. Minority shareholders in Anseong or nearby cities were occasionally present.
In addition, shareholders' meetings sometimes gave out simple souvenirs depending on the company. So there were women and elders. There were also employees of companies that received letters of attorney.
Perhaps because it was a general meeting, there were definitely more people than during the board meeting.
Almost a hundred people seemed to have gathered.
In fact, today's General Assembly didn't have much to say.
It was only the process of getting approval today for the agenda items that came out during the last board meeting, which was intended to be approved by shareholders.
They included the selection of executives, approval of executive remuneration limits, investment in Vietnam, and changes to some articles of association.
The chairman and the president welcomed us.
I sat on a chair arranged on the stage.
Again this time, Eui-bong was held by the chairman and the society was not the president but the general manager of the company.
The meeting ended in a snap as expected.
The meeting ended so quickly that it was still early for lunch.
Mo Kang-tech CEO said with a smile.
"Let's go to my room and have a cup of tea.”
We went to the boss's room. The secretary brought the car.
"I read the article in the chairman's economic newspaper. I think the company's image has improved a lot."
"After the article went out, we've seen more orders from Samsung and LG as trusted companies. As we've already announced, we're likely to see a surplus in the third quarter, with 8 billion G-electronics and reduced financial costs."
"That's a good thing."
"I was worried about the third quarter being negative because I forced the second quarter surplus, but I don't think I need to. It's all thanks to you."
"Then there's a good chance the stock will settle at 5,000 won in the third quarter."
"The stock price will fluctuate depending on market fluctuations, but I don't think it'll fall below 5,000 won for now."
"Then should we shake off a million of our 3.5 million shares? We're going to lose our share, but we're going to have more minority shareholders."
"Well, that's true."
"Don't we have to shake it off to become the largest shareholder in the Cho family? We'll have to get rid of them quickly. But we shouldn't just kick them out, we should let them carry a bundle."
"We'll work hard and boost our stock prices next year."
"We are a kind of hedge fund company that invests money. If we operate, Mo Kang Tech's stock can be made up to 10,000 won in no time. Just like EMG Asset did."
"I'm sure.
"But we're not the kind of company that's operating. I don't want to cloud the water in the stock market."
"That's why I went all the way to Yeouido and asked you to take over EMG shares. If we don't know the grace of J.S. Invest, we're not human."
"You said you met the president of G Electronics, right?“
"I went to a meeting of the presidents of our partners and asked them to come into my room, so we talked for a long time. He said we should continue our predecessors' friendship with our generation.”
"You seem to have a good personality.”
"The president of G Electronics asked us if we were willing to take over a company called Pitestech.“
"Pitestech?"
"It's a company in Uiwang, and it has about 40 billion won in sales. The president of the company graduated from KAIST University of Technology and was in Samsung, and started working with me, which led to a lot of debt. He's an engineer, but he's been out of the picture on the finance side."
"Hmm."
"In the end, I was stressed out about my debts and suddenly collapsed from a heart attack."
"Oh, my Goddamn it!
"The president is a doctor of engineering at KAIST, so we have several patents. When the boss died, employees gathered to take over the company, but it didn't seem to work."
"I guess I didn't have enough money to pay off my debts."
"G Electronics is in trouble because G Electronics doesn't get the delivery for the items that come out there. So he asked us if we had any intention to take over, but he said he couldn't. Aren't we stoners?"
"That's too bad."
"So I thought of JS Invest, but I couldn't call you because I thought JS wouldn't be able to acquire 3.5 million of our shares. I heard that my assets were 30 billion won, and I bought 11.9 billion shares in Mogang Tech, and I thought it would be difficult. I'd have to have 30 billion won to buy that company."
"30 billion is a lot."
"If J.S. Invest doesn't take over, is there any other asset management company that can take over?”
Chang said.
"I've also insisted to the president that our fund company buy and resell the company. But this one is too big. I don't think it's going to be able to handle."
I also thought that fund companies' money is customer's money, but if they suddenly ask for redemption, it will be difficult to cash in because it is different from stock investment.
joint investment of corporation and individual