The Youngest Son of Sunyang

“I know very well why you're doing this, so I'm done with the fundamental question. All you need to do is focus on the numbers and calculate exactly what the financial institution is capable of paying. Okay?”

In the conference room, analysts and fund managers surrounded by accounting data from each financial institution, PCs and laptops were glaring and listening to me.

Some of them taught me a few years ago about funds and financial derivatives, but they also listened quietly.

I can't make sense of it, but I've never been more frustrated by a given mission.

Everyone expressed a lot of doubts, and there was someone who couldn't wait to talk.

“Howard, these companies are the main stream of Wall Street. Isn't it a little ridiculous to calculate the limits of our ability to pay when we're making tens of times more money than Miracle? ”

They rocked the list of companies that were wielding money around the world to see if it was really meaningless.

We don't want them to understand everything, but we need to explain the minimum possibilities.

“Think of it this way: All of our Miracle clients are taking money away at once. So far, so good?”

“Of course, if you're willing to make a sudden withdrawal and risk your own loss. ”

That's a perfectly normal answer. We just roll the clients' money, not gamble.

“Suddenly, someone shows up and gives out a credit default swap agreement and charges $100 million. These 100 million dollars should be paid by our Miracle, not our clients' money. Is it possible?"

The premise is wrong.

As every customer promises, there is no way to withdraw money at a time. But now is the time to think only about numbers.

They were reluctant to take the answers they already knew out of their mouths.

“We Miracle can. But you have to give up your bonus this year, and some of you have to pack up and leave, and the loss of 100 million dollars is somebody's responsibility. ”

I looked at their uncomfortable faces and said,

“Imagine that the same thing happens to Goldman Sachs, Deutschevank, Morgan Stanley, Marylinch, etc. However, the charge is $10 billion. Can you survive without bonuses like the rest of us? ”

Whether the figure of over 10 trillion won caused them to lose confidence, they still could not open their mouths.

“This is what I want. How much can large financial institutions pay with the money the company holds, not the customer's? I can afford it, but how much would it cost to make a default declaration and push for the extreme choice of bankruptcy…? ”

One of them, who was just listening, opened his mouth.

“It's time for the kidnapper to calculate the ransom. ”

Everyone's gaze was on him.

“Oh, it was a study that I did at school. when you kidnap a child and you ask the parents for money, you calculate the appropriate amount that the parents would hand over without telling the police. ”

He looks a little embarrassed, but shrugs and explains.

“It would be foolish to call the ransom too low compared to your parents' assets to risk a crime the kidnapper should be carrying, and to call it more than the ability to pay. You also need to understand your parents' characters. ”

“Your parents' character? ”

I was curious about what he said.

“Yes. So a normal abduction is a culprit. For parents who can't tolerate injustice, they have the ability to pay, but if they think it's too much, they tell the police. ”

“So in this case, are the parents the CEOs of the financial institution? ”

“Of course, you have to consider their philosophy, their fame, their shareholders, their social awareness. ”

“Does that mean it's never easy to determine your maximum payout ability just by looking at the numbers? ”

“The right amount of payment is only a number, but not the maximum. ”

I pointed to him without a second thought.

“You are the leader of this TFT. The deadline is two weeks. Pick the maximum number and report it to me. ”

Everyone looked embarrassed, not just the person I pointed to, but did not change my decision.

* * *

On the one hand, I was working on swap agreements with other experts as assistants in understanding the finance companies' ability to pay.

The mortgage-backed securities were not single commodities, but many debts that were scrambled together, requiring a baseline setting for each of them.

They rated themselves AAA to deduct the top 50 traded at the highest value. AAA was a symbol of safety to others, but it was like a lottery for me to offer the biggest dividend.

Rachel Arief quietly summoned me when I was in the middle of analyzing stocks. With a very urgent face.

“What's going on? Your face... ”

“I went around Wall Street and got the information.... Howard, I've found some people who think the same thing about you. ”

Of course there is, because I already know how they made their money, and I'm following them the same way.

But I pretended to be surprised and asked.

“Already? Who is it? ”

“Greg Reefman, Steve Iceman. John Falls, Ben Hocket…. There are individuals and institutions... ”

“When did they start? ”

“Fast people are already two years old. It was last year when we had a lot of money. ”

“They must have lost a lot of money. Huhu.”

A losing wager is a losing bet as the value of the mortgage commodity rises. Since I have been wagering for two years, institutional investments would have drawn out customer protests or lost a lot of money.

“Goldman Sachs operates over $200 billion in mortgage securities. The biggest bet on the opposition is only $700 million. They're going to lose a lot just by comparison. Maybe he's half-cut. ”

200 trillion won is 200 trillion won. In 2007, the United States is also 230 trillion won. A financial institution is launching a national budget.

I said it to Rachel.

“Are you nervous because you're half-cut? Is that why you're telling me to stop him? ”

“No. I just wanted to say that maybe your prediction isn't wrong. ”

“So you bet with me? ”

She smiles and says, but she still doesn't look straight.

“I want to protect my spirit. I'm not going to bet, I'm going to invest, I'm going to invest, I'm going to invest, I'm going to invest with stable, consistent returns. Most of my clients have already supported my approach and have agreed to withdraw from investing in mortgage securities. But he didn't want to bet. Customers

Because it's my way of doing what the field asks. ”

Rachel wants defenders, not attackers.

“Yes, I support Rachel's way of doing things. So please continue to be the CEO of Miracle. ”

I mean it.

The New York Miracle is my safety deposit box, isn't it? What I want is to be called out discreetly rather than to return on my investment.

The name Miracle will, of course, rise and fall from the Wall Street because of this bet, but the work will be earned by the people here.

These people have fame, I have money.

And I know what Rachel Arief's anxious eyes mean.

It's because she knew that the moment I gave money to the endangered U.S. financial markets was the beginning of the fall.

* * *

“Remember, we're signing a credit default swap. Sequentially, one by one, someone is definitely investigating our contract. We need to get rid of it quickly before it leaks. ”

The people who had the contract seemed to be holding back their laughter as if it were ridiculous.

This stupid contract is welcomed anytime, anywhere, and no one will suspect and investigate it.

“New York is Friday morning and London is Friday afternoon. The London team can enjoy the weekend there. ”

A silent smile spread over the faces of those leaving for London.

Taking a blinded contract would be a welcome gesture, and it would be an easy trip to enjoy the rest of the weekend after signing it.

They left, suppressing their desire to shout.

I finished all the preparations and waited for Friday drinking with Rachel in a tiny bar.

“How much for everything? Total amount invested? ”

Rachel asked with a cocktail.

“We've got a little higher insurance rates. Some of you may have noticed this crisis a little bit by now. You have to pay for the anxiety. ”

“What percent? ”

“Minimum four percent, maximum seven percent. ”

“How long?”

“Five."

“Well…. What do you think, five or ten years? It's next year anyway.”

Rachel smiles spontaneously.

“Yes, you only need to pay for a year's insurance. ”

“What's the full amount? ”

“The average insurance rate is about $3.5 billion…. ”

“You're making $3.5 billion 20 times this bet. Is it $7 billion? ”

The bartender fills his glass and turns away frowning.

It's probably because of the number of middle-aged women and young Asian men talking nonsense.

Actually, I sounded like crap.

Seven billion dollars, 70 trillion of our money.

It's like a bunch of circled cryptography and digital signals to me.

“You think $7 billion can be paid by the Wall Street? ”

“Rachel, what do you think? Too low? ”

She opens her mouth thinking.

“This is as low as it gets. But next year, I'm worried it's going to be a high price. ”

“We've spread out across London and New York, so you'll be safe. ”

“Next year, you'll catch up with Warren Buffett or tap him. You'd be the number one symbol in the world in a heartbeat. ”

“There are many hidden riches in this world, as I did not reveal. So next year's Forbes code number one will still be Warren Buffett, and number two will be Bill Gates. ”

Korean tycoon leaders are also among those who have not been revealed. Three trillion, four trillion, but how much money have you hidden behind the use of hundreds of trillion worth of companies as vaults?

“I've been buried in numbers my whole life, but I get confused because the numbers that cross the line of thinking appear in front of the reality. ”

Rachel emptied her glass again.

“Do you have any idea what you're going to do with that money? ”

Of course there is.

I can't tell this woman.

“My respected grandfather once said, ”

Rachel stares at the glass and looks at me.

“Money is about making money. Don't think about where you can spend that money. In life, there will come a time when you have to spend it anyway. You can worry about spending money then. ”

She laughs quietly.

“I knew the objections were different. Your grandfather was very rich, too, wasn't he? ”

“Yes, but he would have been amazed if he was alive, because he hasn't made 70 billion dollars in a year. ”

“I think you're the first person since capitalism. ”

Is that so? I'm sure there was another one.

“Isn't it true that during the Battle of Waterloo in Napoleon, the Rothschild family made enough money to buy the whole of England? ”

Rachel shakes her head.

“It's a story from conspiracy theory to the trunk. I just made a lot of money investing in sovereign bonds, and I don't have more than a billion dollars on the market right now. ”

One billion dollars earned by the Rothschild family is the national tax, and the money I will earn comes out of the pockets of American citizens.

I am not a Korean citizen at all, so I feel lighthearted.