The Conglomerate Family Became A Villain [EN]: Chapter 177

177. The End of the Crisis (4)

Sitting across from Jung Hyun-woo was Paulo Giannini. This was his second meeting with Paulo Giannini.

“Hahaha, you seem to have grown taller in the meantime.”

Jung Hyun-woo was now twenty years old in Korean age [Koreans count age differently, adding one year at birth and another on January 1st], so his growth could be considered to have somewhat stopped. However, it couldn’t be said that there were no cases of people growing taller even after twenty, so Paulo Giannini’s words weren’t entirely wrong.

“Mr. Giannini, you also look brighter.”

Paulo Giannini erased his smile and lowered his voice.

“A bright face is just a mask.”

He wanted to get straight to the point.

“Has there been an internal conflict?”

Jung Hyun-woo had heard some of the story through Lyra Marine before today’s meeting.

“Not quite an internal conflict. I’d say there are some upstarts who don’t know their place.”

“The problem is that those upstarts are targeting our company.”

The place where the two met was one of New York’s skyscrapers, not widely known to the public.

“Let’s cut to the chase. How does JPMorgan intend to deal with this situation?”

Paulo Giannini wanted to know how JPMorgan would respond to the short selling of Victoria Corporation.

Jung Hyun-woo answered his question in a firm voice.

“JPMorgan isn’t dealing with it; I am.”

“JPMorgan isn’t, but you are?”

“JPMorgan isn’t the owner of Victoria Corporation.”

The person with the most shares in Victoria Corporation was Jung Hyun-woo.

“Hmm, then what is the result of JPMorgan’s purchases over the past few days?”

“My account is with JPMorgan.”

Paulo Giannini was momentarily speechless.

‘Defending the company’s stock price with his own money? Is that even possible?’

Even the owners of companies assessed by Forbes to have billions of dollars in assets didn’t actually have much cash. At most, it was only a few hundred million dollars. And even if they had billions of dollars in cash, no one would put all of their cash into defending the stock price.

“JPMorgan used nearly $200 million to buy stocks last week. Is that all your money?”

“Not all of it, but a significant portion is my money.”

Paulo Giannini let out a low groan.

“Hmm, you’re saying you’ll defend the stock price with the money we paid you.”

Jung Hyun-woo had received nearly $1.4 billion in cash from JPMorgan and Bank of America.

“Even if it wasn’t that money, I could still defend the stock price sufficiently.”

He tried to show as much composure as possible.

‘Without knowing the exact situation inside Bank of America, showing weakness is forbidden.’

Paulo Giannini judged that Jung Hyun-woo had around $500 million to spend on defending the stock price.

‘Even if he received $1.4 billion from us and JPMorgan, considering taxes, he wouldn’t have more than $1 billion. Moreover, he hasn’t converted all of his assets into cash, so it’s realistic to think he can only use about half of that, around $500 million.’

He had managed to fend off last week’s offensive, but without external help, he could only last for about a week.

‘I have to help after all.’

He put his hands together and said.

“Terra is not an easy opponent.”

“I am already well aware of Terra’s ferocity.”

“Do you think you can block everything with your money?”

Jung Hyun-woo slightly raised his voice at the end of his sentence.

“Isn’t that why you came all the way here, because you didn’t think I could stop them?”

Paulo Giannini nodded.

“To be honest, I don’t think you can stop Terra and Carney.”

“Can I stop them with Mr. Giannini’s help?”

“I can’t guarantee that you can stop them, but the chances of stopping them will increase.”

Jung Hyun-woo asked him.

“What kind of help are you planning to give, Mr. Giannini?”

It would be impossible to give money directly.

‘Because that would mean doing short selling and buying at the same time within Bank of America.’

As he expected, Paulo Giannini wanted to help in a way other than money.

“I know someone who can invest in Victoria Corporation.”

“Are you saying you’ll introduce me to him?”

“Don’t you want to?”

Jung Hyun-woo sighed briefly.

“I’ll listen to who it is first.”

He meant that he couldn’t meet without knowing who it was.

“You still have 余裕 [yoyuu – composure,余裕].”

“I’m not so desperate that I would ask for help without knowing who’s helping me.”

“I see. I’ll tell you the name of the person who will help you. He is…”

Jung Hyun-woo shook his head after hearing the name Paulo Giannini said.

“Mr. Giannini, I will not meet him.”

Paulo Giannini’s eyes widened.

“Really?”

“I’d rather go bankrupt than receive his help.”

Paulo Giannini was at a loss for words at Jung Hyun-woo’s firm statement.

“Yo, you…”

“If you have nothing else to say, I’ll get up.”

Jung Hyun-woo left his seat, and Paulo Giannini shook his head greatly.

“Huh, I can’t understand at all.”

He couldn’t even guess why Jung Hyun-woo had rejected the person he had mentioned.

* * *

“Huff, huff, huff…”

The woman who came chasing after Jung Hyun-woo, gasping for breath, was Lyra Marine.

Jung Hyun-woo had a cold face even though she had followed him so urgently that she was gasping for breath.

“You could have done this over the phone, was there a reason to follow me all the way here?”

Lyra Marine caught her breath and answered his question.

“Because I thought it had to be today.”

Jung Hyun-woo paused at her answer.

“It has to be today?”

“Terra’s fierce attack will begin when the market opens tomorrow.”

She was saying that Terra would start short selling at the start of trading on the New York Stock Exchange on Monday.

“I’m confident I can block Terra’s short selling.”

“Charlie, this isn’t a situation where you can be so sure.”

Jung Hyun-woo raised his voice at the words that he couldn’t be sure.

“No matter how much Terra is, they can’t create shares out of thin air. The only shares they can short sell are the 10% owned by Bank of America, right?”

He didn’t think that Bank of America could short sell all of the 10% either.

‘If the short selling fails, Bank of America could lose all of its ownership stake.’

Lyra Marine shook her head at his question.

“That’s not true.”

Jung Hyun-woo frowned at her answer.

“Are you saying Terra can short sell more than 10%?”

“Charlie, have you forgotten that there’s 10% that went out to the subscription market?”

“That’s to individual investors…”

“Institutions took more than individual investors.”

In other words, Wall Street owned more than 5% of Victoria Corporation’s shares.

“Are you saying that Terra can use more than that 5%?”

“They can short sell even more than that.”

Jung Hyun-woo’s face grew darker and darker.

“How can they short sell more than that?”

“Charlie, you don’t know the relationship between JPMorgan and Terra.”

Jung Hyun-woo couldn’t help but pause at her words.

“The relationship between JPMorgan and Terra?”

“Yes.”

If there was some kind of relationship between JPMorgan and Terra, John Pier would have told him first.

‘Is Lyra mistaken?’

However, Lyra Marine was not a woman who made false statements.

“What kind of relationship do they have?”

“Arthur Morgan was among Terra’s initial investors. This is a fact that many people don’t know.”

Arthur Morgan.

He was the current chairman of JPMorgan.

In other words, Terra was a hedge fund founded with JPMorgan’s money.

“How did Lyra know that fact?”

Lyra Marine lowered her voice and answered.

“Our family also invested.”

It was the big shots of Wall Street who created Terra, which was called evil.

“You’re saying you guys created Terra.”

Lyra Marine sighed briefly.

“Hah… We couldn’t make such investments under the name of Bank of America or JPMorgan.”

Terra preyed on developing countries as well as underdeveloped countries in economic crisis.

If JPMorgan or Bank of America had committed such acts, they would have received great criticism from the international community as well as the US government.

They created Terra to divert the criticism they would receive to others.

“You’re saying I have to face the monster you created.”

Lyra Marine asked him.

“Charlie, what exactly don’t you like? Do you have a bad relationship with Mr. Soros?”

The person Paulo Giannini wanted to introduce was George Soros.

Jung Hyun-woo answered her question with strength in his voice.

“I can’t hold hands with the devil to fight the devil.”

Lyra Marine blinked at his answer.

“George Soros is the devil?”

As of 1985.

George Soros and his Quantum Fund had not yet attacked developing countries or marginal companies or countries.

However, Jung Hyun-woo knew several of George Soros’s misdeeds.

‘If Warren Buffett is a virtuous person who pursues value investing, George Soros is an evil person who aims for macro and short-term profits.’

Warren Buffett and George Soros had opposite investment tendencies but were the same age, so they were often compared in many places.

“He’s as much of a figure as Terra.”

Lyra Marine had an incomprehensible expression.

“Charlie, that’s not true. Mr. Soros is…”

Jung Hyun-woo waved his right hand and said.

“I know that Terra is not an easy opponent, so I’ll go back and come up with a plan.”

Lyra Marine couldn’t stop him any longer. She looked at Jung Hyun-woo, who was moving away, and thought.

‘Mr. Soros is evil? That can’t be?’

The George Soros she knew was an investor who made profits by short selling companies with bubbles.

His investment method of using short selling was not much different from what Jung Hyun-woo had done a few years ago.

* * *

Sunday evening.

Jung Hyun-woo wandered around Wall Street without deciding on a hidden card.

“It’s troublesome.”

He told Lyra Marine that he would come up with a plan, but he didn’t have any good ideas in his head.

‘Victoria Corporation’s repurchase of its own shares cannot be considered a hidden card.’

The funds that Victoria Corporation can operate are at most about 50 million dollars.

‘I can’t reach out to Aria now.’

Of course, if the situation worsened, he had to go to George Soros, not Aria.

“Charlie?”

Jung Hyun-woo turned his head at the voice calling him.

“Peter?”

The person who called him was Peter Lynch of the Magellan Fund.

“Why are you standing here?”

“I have a lot on my mind.”

“New York is not a place to be spacing out.”

“It’s not like I’m going to get robbed on Wall Street.”

Peter Lynch narrowed his brow and said.

“Don’t let your guard down just because it’s Wall Street. There’s no easier target than someone who’s lost in thought.”

It was a warning that robbery could happen on Wall Street, which is considered to have good security.

Jung Hyun-woo scratched his head at his warning.

“I was letting my guard down because I thought this place was safe. What’s going on with Peter on Sunday?”

“I’m on my way home from work.”

“You came to work on Sunday?”

Peter Lynch sighed briefly.

“Hoo… It’s all thanks to you.”

He had to come to work on Sunday because of Jung Hyun-woo.

“Ah, did Sarah call?”

Peter Lynch asked back at his question.

“She said she’s going to withdraw our investment on Monday?”

“The recent situation is not good.”

Peter Lynch knew that Victoria Corporation was under attack by Terra’s short selling. That’s why he came to work on Sunday to handle the work.

“You know, you’ve been targeted by bad guys.”

“Can we get a drink?”

Peter Lynch tilted his head at Jung Hyun-woo’s suggestion.

“Is a drink possible?”

The Jung Hyun-woo he knew was not yet 20 years old.

In the United States, you usually have to be over 21 to drink, although it varies from state to state.

Jung Hyun-woo smiled and answered.

“Not alcohol, coffee.”

Peter Lynch checked his watch and then accepted his words.

“I think I have about an hour.”

He and Jung Hyun-woo headed to a nearby cafe.

Click.

The cafe that entered with the sound of hinges was ordinary itself.

“What will you have?”

“I’ll have something cold.”

Peter Lynch nodded and finished ordering. Then he turned to Jung Hyun-woo and asked.

“Is the hacking situation serious?”

He thought that the reason Jung Hyun-woo couldn’t return to Boston was because of hacking.

“No.”

“Then why aren’t you going back to Boston?”

“Because I have to stop the strike.”

Peter Lynch groaned lowly at his answer.

“Hmm, you’re saying that Terra isn’t the only opponent.”

“This side may be more difficult.”

“Is it that bad?”

“I sent a veteran employee to the negotiating table last week, but he couldn’t stand it and started a fight.”

Peter Lynch whistled briefly after hearing his answer.

“The opponent is not ordinary. Are you confident that you can persuade them?”

“To be honest, I don’t.”

“That’s a big problem?”

“You’re telling me.”

If he couldn’t persuade the AS engineers, he wouldn’t be able to reverse the stock price, and if that happened, he would have no choice but to be dragged around by the short selling forces.

“If you waver, we will also waver.”

“Is it because you withdrew your investment?”

“That too, and we also invested in your company.”

The Magellan Fund has increased its investment in Victoria Corporation, and currently about 20 million dollars has been invested. If Victoria Corporation’s stock price plummets, he would also have to bear a considerable loss.

“I have to persuade them somehow.”

Peter Lynch checked his watch and said.

“The exchange will open in 14 hours. Do you have a secret plan to counter short selling?”

“I don’t have a secret plan, but I have an ordinary plan.”

“I’d like to hear your ordinary plan.”

Jung Hyun-woo told Peter Lynch about his plan to block short selling with money borrowed from JPMorgan and Victoria Corporation’s investment.

“If there are no troubles, you can block it for about 2 weeks.”

“It’s hard to do more than that, right?”

“Terra will also have a hard time doing more than that.”

According to Peter Lynch’s calculations, he was able to narrowly block Terra’s attack.

“You’re saying that you only need a little help from someone.”

Peter Lynch stirred the coffee that had just arrived with a spoon and said.

“If you have 500 million dollars more, you can block it perfectly.”

500 million dollars.

Jung Hyun-woo couldn’t help but think of Aria.

‘Do I have no choice but to ask Aria for help?’

It was when he narrowed his brow.

Click.

A man entered with the sound of hinges. Then he came straight to Jung Hyun-woo and Peter Lynch.

“You were here.”

Jung Hyun-woo recognized the man and tilted his head.

“Mr. Pier?”

The man who came in was John Pier of JPMorgan.

“I heard from the staff that Mr. Jung disappeared in this direction.”

Jung Hyun-woo didn’t know, but many people who came and went on Wall Street knew him.

“Did you come all the way here to find me on Sunday evening?”

John Pier nodded greatly and answered.

“That’s right.”

He belatedly recognized Peter Lynch and greeted him.

“Peter, you were here too.”

Peter Lynch shrugged at John Pier’s greeting.

“I was having coffee with a friend.”

The two had some connection on Wall Street.

“Can you give us some space?”

As Peter Lynch was about to get up from his seat at John Pier’s suggestion, Jung Hyun-woo raised his right hand.

“It’s okay. Peter is on our side. Just talk.”

John Pier nodded and sat in the empty seat. Then he said to Jung Hyun-woo.

“Mr. Jung, the loan has been rejected.”

JPMorgan’s loan was one of Jung Hyun-woo’s key cards.

Jung Hyun-woo and Peter Lynch.

Both of them widened their eyes.

“The loan has been rejected?”

“Who rejected the loan?”

John Pier sighed deeply at the two people’s questions.

“Hoo… That is, Mr. Arnault even gave permission, but it was cut off from above.”

There was only one person above Henri Arnault.

Peter Lynch narrowed his brow and said.

“You’re saying Edmund Norman cut it off.”

Edmund Norman was the man who took over the position of CEO of JPMorgan after Arthur Morgan.

In other words, the CEO of JPMorgan opposed the loan.