The Chaebol Who Flies From Space - Chapter 89



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The Tycoon Who Flies Into Space Episode 89

Episode 89 Iraq War (2)

How should I put this together?

“Iriel, the accounts you used last time are still there, right?”

[I’m leaving it alone because you told me not to close it.]

“Let’s use that for this investment.”

[Then the investment position is exposed to the outside.]

Exposure of investment positions poses serious problems. It will appear as a tempting prey to those with hostile intentions.

“How will the market react if I build an investment position due to falling oil prices?”

[You’ll think I’m crazy. I’ll try to drive up the price of oil.]

“Yeah, they’ll try to drive up the price of oil and get me out of here.”

A giant investment bank like Goldman would certainly be confident in driving up oil prices.

If it is predicted that the war will lead to a rise in oil prices, they will rush in with even more confidence.

“How high will oil prices go in the short term?”

“It looks like it will go up to $38.”

“What about the floor?”

[If the war goes smoothly, it will go down to the low 20s.]

“Then let’s take a sell position at $35. They’ll rush in once they confirm the position.”

They spin webs and hope to catch their prey.

* * *

Harry Segal, Goldman’s East Asia headquarters chief, looked coldly at McDougall as he rushed breathlessly into his office to report.

“Chief Cho Yong-won’s investment account has been moved. I have confirmed that investment funds have been deposited into an account that was previously empty.”

Harry Siegel frowned. Wasn’t he waiting to show off his hot taste?

There was hardly any movement, so I had no way to vent my anger.

Although Herish Girl appears as cold as ice, she becomes as hot as a volcano in hell when faced with the damage she has suffered.

“How much is the total amount deposited?”

While Harry was lost in thought for a moment, MacDougall, who was out of breath, looked at the documents he had brought.

“It came in scattered across several trust accounts, but when you add up the funds deposited into the accounts, it totals $21 billion.”

It was quite a large sum. I don’t know where he had invested it, but it seemed like he had been successful in his investments.

If I could just get all of that out, I wouldn’t have to worry about this year’s performance.

“So where do you think our customer is planning to invest this time?”

There was something to be said for the money being deposited into an empty account. If you didn’t know that the Iraq war was coming, you had no reason to be working on Wall Street.

“It seems like they are trying to invest in oil prices ahead of the war.”

“Where should I invest? If I think about it objectively, I think it will be on the upward side.”

“That’s right. Oil prices, which had been stagnant for a while, are starting to move in anticipation of the Iraq war.”

What should I do about this? Harry Siegel postponed his decision for a moment. It was not too late to decide after checking specifically where to take the investment position.

“Check your account carefully. I mean, check what positions you’re building.”

“All right.”

“The funds have increased significantly. Is it our own funds?”

“That is… … . Let me check. I heard that the city created a syndicated loan to raise investment funds.”

MacDougall’s appearance was that of a rough and rugged Celtic, but inside he was as cunning and agile as a fox. He quickly asked for information by setting up antennas inside and outside the investment bank.

The reason why Harry, who was cold-hearted to his subordinates, was the only one they trusted and entrusted with work was because of him.

“How much did you say it was?”

“Seven billion dollars.”

Harry touched his chin.

“There is a high probability that the investment money will return this time after growing in size.”

“That will happen.”

“I have to get rid of it this time.”

“If you confirm the position, the possibility will increase, but if you build an investment position due to rising oil prices, it will be difficult to take an opposite position.”

“Oil prices will go up when the Iraq war starts?”

“Most experts agree, but some predict that if the war goes smoothly, oil prices could fall.”

Harry chuckled, throwing the report he had been reading into the corner.

“Even though Iraq suffered great damage in the last war, it is still a military power. Remember when it destroyed Kuwait’s oil fields during its last retreat? What happened to the oil price then?”

“Oil prices have risen significantly.”

“Well, if a war breaks out, the price of oil will go up, and there is no reason for it to fall. All these oil price forecast reports are predicting that the price of oil will rise. But the price of oil will fall? What kind of idiot says that?”

Harry shook his head.

Anyone can see that oil prices are rising.

If there are fools who think that war will break out and oil prices will fall, that’s good. If there’s an opponent, they’ll eat big.

“Then I will maintain an investment position in preparation for rising oil prices. How much should I invest?”

“How much money can I invest with my own money?”

“There is a $6.7 billion investment position left in our East Asia headquarters.”

At those words, Harry frowned.

“Let’s invest everything this time. The other investment divisions will all take the same position. I hope not, but the other guys aren’t stupid. It would be good if Miguel took a different position.”

Lloyd Miguel Blancpain was the head of Goldman’s European headquarters in London. The fact that Herga called him by his middle name was to show his contempt for someone of South American descent.

When the current representative steps down after completing his term, Heri was Harry’s biggest competitor for the successor position.

Unlike Harry, who started out as an intern at Goldman and worked his way up to his current position, Lloyd Blankfein, who moved from Rothschild Bank to Goldman, clashed with everything.

“There hasn’t been any major movement yet, but we will be preparing to invest.”

“Of course. He’s not stupid. Anyway, don’t take your eyes off Miguel even for a second.”

There was no one at Goldman Sachs who didn’t know that the two weren’t on good terms.

Just as this side planted eyes, so did the other side. Lloyd’s spies were probably hiding in the East Asia headquarters.

This was something that couldn’t be helped.

* * *

As tensions with Iraq escalated, Song Han-young, CEO of WD USA, who had been staying in New York, came to LA with his investment team.

WD USA, which started out as the New York branch of WD Investments and has grown in size, has now grown to a massive scale with over 1,000 employees.

With offices in New York, Los Angeles and San Jose, he was responsible for overseeing subsidiaries headquartered in the United States, including Emma Brown, Ultra and Iridium Communications.

“They say there is fierce competition for succession within Goldman.”

“Yes. Goldman has a tradition of internally having potential successors compete against each other and then selecting a representative from among them.”

“So these two are the strongest candidates right now?”

“Hary is a seasoned, traditional Goldman expert in the IB sector. On the other hand, his rival Lloyd is a trading specialist. When the next personnel changes are made, the two will move to headquarters and become the heads of the two divisions.”

The guy named Harry, who was fighting me, looked like he had no qualms about him. On the other side of him, Lloyd Blankfein, was a bald man with a gentle appearance.

At first, I wanted to use this opportunity to completely break Goldman’s spine, but it didn’t seem like the traditional Goldman would go down without any damage.

So the way I changed it was to raise a rival of Heri, who had a bad relationship with me.

Even without me, the two of them would have been competing fiercely anyway.

“Lloyd? What about this author?”

“I am a Jew from the Rothschild Bank.”

President Song Han-young also worked at Goldman for a short time when he was young, so he had a rough idea of ​​the internal atmosphere.

“Wherever you go, there are Jews.”

“Like other investment banks, Goldman’s major shareholders are Jews.”

Everyone knew that most investment banks were in Jewish hands. It was said that the stakes had been diluted over time, but the reality was different.

To rise to the top of an investment bank, it was impossible unless you were born with Jewish blood.

Henry Paulson, the current CEO of Goldman, was also Jewish.

“Anyway, is it certain that if that guy named Heri suffers such a huge loss this time, he won’t be able to maintain his position?”

“Goldman is a ruthless society of survival of the fittest. If you cause losses to the bank, no one will be spared. If the loss is large, the position of IB division president that was supposed to be in the pipeline will be lost. There are many piranhas that will attack Harry if he bleeds and bite him. Although Harry, the head of the East Asia headquarters, is close to the CEO, Henry Paulson, he will not step forward and actively protect him.”

“Why is that? Isn’t there a line there too? Isn’t it true that President Henry is behind Harry Segal?”

“Although CEO Henry is pushing for Harry as his successor, he is not the bank’s largest shareholder. If the board of directors talks about it, even if he is the CEO, there is nothing he can do.”

“So you’re saying that even the CEO could get hurt if we’re not careful?”

“Yes, the CEO has a lot of power, but he doesn’t own the investment bank.”

If the real owners of the bank come forward, it would mean that the president is just a salaried worker.

“Then let’s have Mr. Song contact Lloyd. If he were to take down Goldman this time, wouldn’t the Treasury Department stay still?”

“Goldman has had a long and deep connection with the U.S. Treasury. Many of the secretaries of the Treasury have been Goldman alumni. Many of the working-level officials at the Treasury are also Goldman alumni.”

The rumor was that if Goldman got into trouble, the Treasury would step in.

It was still too early to pick a fight with the U.S. Treasury.

As soon as President Song Han-young finished his report and left, Director Kim In-young came in carrying a bunch of documents for approval.

No matter how much I worked, there was no end to it.

He asked while reviewing the documents he had brought.

“What about the new government? Is it still noisy?”

“Aren’t they a force that hasn’t even found a place in the ruling party? There’s no way the old guard would just give up their positions.”

After the presidential election, a new president was inaugurated, but his party’s base was too weak.

President Joo Moo-yeon was a typical outsider.

In terms of the dynamics within the ruling party, the president has been on the periphery of the periphery. Since he was unable to control the party, it was only natural that there would be a rupture.

The ruling party’s old guard have been through a lot while working with the former president for democracy throughout their lives.

Torture and intimidation are commonplace.

I couldn’t handle these powerful people like I did the former president.

“There is no need for us to take the lead. Even if we ask to meet, please put it off. For the time being, we have no intention of entering the country.”

I was busy having a sweet time with Jamie. It was hard to even see Jamie’s face after he returned from his honeymoon and started filming a movie.

Fortunately, they were filming in nearby Napa Valley.

“How do you think the political situation in Korea will develop?”

“What’s the big deal? If we keep fighting like this, it’ll all end in an explosion.”

The ruling party’s mainstream and the current president were like water and oil.

If President Joo Moo-yeon had given up his assertion and acknowledged the existing power within the party, the political situation would have flowed more smoothly, but that was absolutely not possible.

If he had been willing to bow, his life as a member of the National Assembly would have been much smoother from the beginning.

When rivers collide, sparks fly.

I had no intention of hanging around and getting beat up.

“Is the filming going smoothly?”

“Financially, there are no major problems. We are fully supporting President Valentina with the funds she needs.”

“How much of Blue Rabbit’s stock did you acquire?”

“They want to sell 30% of the shares. We agreed on $130 million. It seems like we’re the ones taking the loss. My Greek Wedding was the first time we’ve made a profit. I think we paid too much for the shares of a film company that was constantly losing money.”

Chief Kim In-young grumbled lightly at me because I had instructed her to grant me whatever I wanted, regardless of the price.

“Think of the acquisition of a film company as a cultural investment rather than an economic one. Making a profit is not important. The goal is to learn a lot from this and apply it to Korean film production.”

To be honest, I was horrified when I looked into the Korean film industry.

In short, everything was a mess.