The Highest Level Son of a Chaebol Family - Chapter 347



Only Noblemtl

347. No, how did you know?

“What and in what detail would you like to hear?”

“As much as possible, everything you know, in as much detail as possible.”

Warren Buffer squinted his eyes at me.

“You can’t expect much from a young kid.”

Is it good?

“So, you just explain as best you can, and I’ll take the rest into consideration.”

That means you don’t have to bother explaining it in detail!

Warren Buffer glanced at the papers on his desk.

“Just listen to it, and then you can discuss the details with your father.”

“With my dad?”

I tilted my head.

“Why is my dad here?”

“Your father, isn’t he the president of JH Investment’s Japanese branch?”

“The Japanese branch manager was named President Shim, right?”

Okay.

I decided to get straight to the point.

I looked through the documents in the envelope that Yoo Jong-tae had brought.

Warren Buffer craned his neck and glanced around.

“What have you heard a lot about?”

“You could say that.”

We have a significant stake in American companies.

Among them, I only picked out the documents related to Blue Stamp Company.

‘It was golden last time, but it’s turned silver now. It’s even starting to turn a bit like poop, which makes it really unsettling.’

Blue Stamp was a business model that issued coupons based on the amount purchased at a retail store, and allowed users to collect these coupons and exchange them for gifts.

Coupons with a blue stamp can be seen as a business that creates finance through floating funds, just like gift certificates.

It takes time to issue a coupon and then return it for a product.

During that time, the company can secure cash liquidity by rolling over funds received in advance and earning interest income.

Of course, earning extra income from lost coupons was a bonus.

Therefore, in these times, the Blue Stamp was a very valid business industry that was generating a hot response in the market.

‘But soon, the United States will experience a change in its overall distribution system, reorganizing its distribution structure around large discount stores.’

As a result, Berkshire Hathaway soon suffered massive losses on its investment in Blue Stamp.

This, along with the large deficits seen at the textile company, was cited as one of Warren Buffer’s representative blunders.

“oh!”

Warren Buffer was delighted.

I laid out all the papers pertaining to Blue Stamp’s holdings on my desk so that they were easy to see.

“Would you like to check it out yourself?”

Even if you buy a bag of bean sprouts from the market, it is common sense to check the condition of the product yourself before buying it!

Needless to say, this is a situation where negotiations are underway to acquire stocks worth about $1.2 million.

“You’re just going to show it to me like this?”

“You’re not going to steal it.”

“Of course! What do you think of me as!”

Warren Buffer reached out and snatched the papers.

“It’s a real Blue Stamp stock! And it’s only 2.5% as preferred stock!”

Warren Buffer smiled with the aforementioned face.

“Hahaha, my goodness. How much is all this?”

“It’s a pittance compared to the value of Berkshire Hathaway stock. It’s only worth $1.2 million.”

“Whose dog name is $1.2 million? It’s only worth that much if you’re a Blue Stamp owner!”

Even though the stakes were similar, the value varied greatly from company to company.

This was because the total number of shares issued was different and the share values ​​were also different.

“I heard that Berkshire Hathaway has been steadily purchasing shares of Blue Stamp?”

“How do you know that?”

Well, isn’t that confidential information that isn’t disclosed in the public notice?

I shrugged.

“There was information that Berkshire Hathaway had increased its stake in the company to 33%.”

“what?”

Warren Buffer was the flagship.

“What kind of kid would steal that information?”

The eyes that turned quickly towards Tom, the secretary, were quite murderous.

“Thank you for the past 22 years together. I think this is where we end up, Tom.”

“Yes… Yes? Like this all of a sudden? No, why?”

“You should have asked that before you betrayed me.”

“Betrayal? What on earth are you talking about?”

Tom waved his hands in surprise.

“I’m not! I’m really not! I’m absolutely not!”

“No one else but you could find out such detailed information, Tom.”

“I can’t even cut open my stomach to prove my innocence!”

“Then let’s start by cutting off that potbelly.”

“… … .”

“You know I only believe what I see and hear, Tom?”

“Huh, how can you say that! Without any evidence that I sold the information… …!”

“I’m joking. Hahaha!”

“No, what kind of joke are you making that’s so scary?”

“This is a crisis situation, Tom. This is serious. I’m in cursive.”

Warren Buffer shrugged.

“I need to keep a close eye on the information about other companies I invest in, but I hold on to the information I invest in so tightly that I never let it slip away.”

Warren Buffer’s voice was cold.

“Originally, we would do things that make money quietly among ourselves. I am no exception.”

Warren Buffer cracked his sore neck.

“Whew, I’m finally coming to my senses.”

His sharp eyes flashed.

“JH Investment, you’re more resourceful than I thought?”

“you’re welcome.”

“Until a few days ago, I didn’t even know about the existence of JH Investment, but they were already our company’s major shareholder.”

Warren Buffer looked down coldly at the two papers lying side by side on his desk.

“I didn’t even know how much JH Investment was investing in which companies, but they were keeping a close eye on our company’s investment status.”

Was this information so top secret that it made you so nervous?

“How on earth did you get this information?”

“With skill, with talent, with ability?”

“Please give me a clear and proper explanation first. If not, I will not listen to your proposal.”

Can’t I say that I heard this directly from you when I attended Berkshire Hathaway’s May annual meeting in my past life?

“I don’t do business with dirty spy companies that steal internal information.”

Warren Buffer was tough.

“Credit is the virtue that takes precedence over all other things in financial transactions.”

There’s nothing I can do.

“There is a rumor going around that any company that Berkshire Hathaway picks will inevitably become a major corporation. Wall Street is paying close attention to your every move. Our JH Investment is no exception.”

“so?”

“What do you look for when deciding which companies to invest in or acquire?”

“Usually I see four items.”

“First, is it a business we can understand? Second, is it good for the long term? Third, is it run by honest and competent people? Fourth, is it very attractively priced? Right?”

“No, how did you know that?”

“With skill, with talent, with ability?”

“… … .”

That’s not the point.

“How does the chairman know the inside story of the other company?”

“Well… … .”

“Literally, cleverly, skillfully, with ability. Right?”

“That’s true.”

“Look, we just did that too.”

“Hahaha, this is something that cannot be refuted. That kind of skill is the most needed ability in this world.”

match!

Warren Buffer clapped his hands just once, so loudly that it was deafening.

“Okay. I’ll admit it! Then, shall we seriously consider JH Investment’s proposal from now on?”

Warren Buffer smiled coolly and quickly flipped through the Blue Stamp documents.

“Huh, you’re really going to hand this over to us?”

Tata, tata, tata.

I replied absentmindedly, typing on the typewriter on my desk in my office.

“If you don’t like it, then don’t say anything.”

“How could I dislike it!”

Warren Buffer closed the Blue Stamp papers he had read in a flash.

It was a pair of eyes that were filled with greed.

“We want to acquire this. Let’s buy it all at the market price.”

I knew it.

In his previous life, Warren Buffer continued to buy shares of Blue Stamp Company, owning a 36.5% stake.

“Let me see. If I calculate it correctly… … it comes to a total of $1,213,207.”

As expected, he’s quick at counting.

Ta-da-da-dak. Clang!

I pulled out the document I had typed.

Warren Buffer, who accepted it without thinking, let out a hollow laugh.

“What is this? … … A takeover contract?”

“Please read it carefully and sign at the bottom.”

“No, there’s only one contract for a stock purchase worth $1,213,207?”

“The transaction is simple. This side transfers the stock, and the other side transfers the price, and that’s it.”

Ta-da-da-dak!

I said indifferently as I wrote down another copy of the same contract.

“Why? Do you want to write a long and complicated takeover contract with complicated and difficult words? Do you want to keep in mind any legal disputes that may arise between us?”

“Of course, whenever this much volume comes and goes… … .”

“If you don’t like it, don’t do it. I’ll just release it into the stock market.”

It’s not me who’s sorry.

“But, Mr. Chairman, you will have to spend quite a lot of money to purchase as many of those stocks as you want?”

Where there is demand, prices tend to rise!

“You should probably think about something like 1.5 million dollars or more?”

“Who doesn’t like it? I welcome it with open arms. I just wanted to add one more special condition below.”

Warren Buffer grinned.

“The market price of the stock is the price at the time the acquisition agreement is signed, not the price at the time the shares are transferred.”

This means that the transaction amount will be determined at the current market price instead of the future market price.

“Yeah, I guess so.”

“Transfer of shares… … .”

“If you want to make special arrangements, I can hand it over to you all when you sign the acquisition contract.”

“what?”

Warren Buffer’s eyes widened at the outrageous conditions.

“We haven’t even paid the deposit, let alone the balance?”

“If you don’t like it, then don’t say anything.”

“No, absolutely not! Then of course we’ll like it! We welcome you with open arms! Hahaha.”

There’s only one reason Warren Buffer is so delighted.

“Since it’s a big money issue, we need time. At least three months.”

Warren Buffer rubbed his palms.

“That’s right. $1.2 million isn’t the name of a dog. How can I give it up right now?”

“But there is a condition.”

“What is it?”

“I would like to convert the $1,213,207 in purchase price for my Blue Stamp shares into stock in Berkshire Hathaway.”

This is the method Warren Buffer used when he acquired General Group.

“1,236 shares of Berkshire Hathaway Class A stock at $982 per share at market price.”

I laughed softly.

“How is it? It’s easy, right? Hoohoohoo!”

“Hmm, I don’t plan on reducing my stake?”

“There is no need to reduce the percentage of shares that the Chairman owns.”

I heard something, where did you get it from?

“I just need to give 1,236 shares of my spare stock to the person I’m recruiting as the Vice President of Berkshire Hathaway. What’s the problem?”

“No, how would you know that?”

Before I could open my mouth, Warren Buffer was a beat faster.

“Are you trying to talk cleverly, skillfully, and with all your might? Anyway, this information is amazing.”

Okay, that’s enough.

match!

Warren Buffer clapped his hands loudly.

“Well, I think we’ve heard enough about the Blue Stamp acquisition offer, so now let’s hear the terms of our Berkshire Hathaway acquisition.”

Warren Buffer said, poking his index finger at the Berkshire Hathaway shares and related documents on his desk.

“If you are going to sell us our company’s stocks, why are you accepting payment for Blue Stamp stocks in our company’s stocks? Doesn’t this situation just seem absurd?”

Why doesn’t it make sense?

“So, you said earlier that Berkshire Hathaway’s offer to acquire shares was ‘conditional’?”

This gentleman listens to people’s words very sparingly.