Chapter 79
This was a time when the New York stock market fell by more than 5 percent. There was the fear of a global financial crisis and an American President faced possible impeachment due to a sex scandal. Korea was also tense due to friction with North Korea. The airport wasn’t particularly busy, as Jessica arrived from New York, and not as you’d expect, London.
She caught other peoples’ attention due to her beauty as she walked by them.
“It’s been a long time, Ethan.”
The airport restaurant was almost empty, and the place seemed to say that it will close soon. Jessica started smoking a cigarette, and I also lit one that I bummed from her. Jessica opened her mouth again.
“I wanted to see you, but I did not expect we would meet in Korea.”
“The Russia War and the Wall Street buyouts all began here.”
“Korea could have been an attractive market before Jeonil came in and became ‘friendly’ with the current government. That firm is new but has a lot of money.”
“You’re interested?”
“Everyone is, if what you said is true. Ethan, why are you here?”
“Let’s not talk about me.”
“I was trying to lighten the mood since the restaurant is so empty. I apologize.”
“However, it’s quiet and the perfect place to talk.”
Jessica nodded with a smile, and I asked a question.
“How was New York?”
She brightened as she spoke.
“Everyone wanted to work in Wall Street and get hired by those prestigious names, the ones with history and impeccable reputations. In the beginning, I could hardly believe we were going to go against them. When I saw their desperation during the buyout meetings, it was an amazing experience.”
Jessica was talking about the near-bankrupt hedge funds and financial institutions.
“Do you know that one of the funds we bought was founded by the economic advisor of a former president?”
“Landmark Capital?”
“Yes.”
Jessica’s eyes deepened as she seemed to be thinking of the financial battles that had happened over the past few months. While she had not risked her life in a dungeon like Yeonhee Woo, it would have been meaningful days for her. The battles she fought would have opened her eyes, and she would want to see more.
I decided that her apprenticeship had ended because of an email Jillian had sent me last month regarding what he could have done more during this battle. He said that Jessica had independently come up with those same points.
“Let’s talk about us. Jillian said that he wanted you to head a desk team.”
“Please don’t say that.”
“Yes?”
“I just made some lucky guesses. There’s all the difference in the world between making guesses and actually putting down hard cold cash on those guesses. You haven’t sent the report to them, right?”
“Them?”
“Those Geniuses who wrote the investment proposal. They would just laugh. Who are they? I cannot forget the shock I felt when I read the proposal. I couldn’t sleep for days.”
“You’re talking about this, right?”
I took out a new investment proposal, and Jessica barely managed to stop herself from grabbing it.
“You can see it, as I brought it for that purpose.”
“Really?”
While her eyes burned with joy, she did not reach for the proposal.
“I do not know how much Jillian exaggerated, but your clients are making a mistake. Jillian said, ‘All that we learned in school, and on the trading floor, is useless for this battle’, and I agree.”
Jessica was smart, as she knew what reading the proposal directly meant.
“I have to study under Jillian still.”
“You differ from his opinions.”
“No, I meant I cannot leave the Isle of Man. I have to learn so much from him. I was only a phone secretary a few months ago, and…Ethan, I’m not misunderstanding things, right?”
“My clients and I agree with Jillian, but we cannot force you. Will you listen to our offer?”
***
The funds in the Isle of Man were used for the Wall Street buyouts, and the firm had bought three major hedge funds, including Landmark Capital. Out of the three, two had given up their portfolios, databases, and client funds. However, Landmark Capital had managed to save a small partnership. They used their bankruptcy as an investment method, and New York and Isle of Man were looking for firms that were run by clever people like that.
Some losers received government buyouts, while others managed to make a profit. Others lost everything they had to us. Wall Street was like that now.
“Our clients want a Global Property Management Firm at this time.”
Jessica was not surprised, as she would have had expected such an outcome from the order to be aggressive in buyouts.
“The buyouts are only the beginning. Not only independent hedge funds but investment institutions with various funds are now undergoing negotiation.” I began.
“I know that.”
“Therefore, we will tie some of them to a group the size of Bluestone.”
“You know that Jonathan Investments are going through the same process?”
“I am the one who got the Isle of Man and New York talking. I guess you have not heard that.”
“Is that so?”
“Jonathan Investments has also emerged victorious, and they would have massive amounts of cash. We should not compete with them since we’re in a similar situation. Both Jonathan Investments and we are the winners, and it would be stupid to risk our winnings fighting each other.” (EN: Remember, the staff at New York (Jonathan Investments) AND Isle of Man are unaware they’re both owned by Jonathan and Sun. This was deliberately setup by Sun. ^_^ )
“Yes, Jillian was reaching an understanding with Jonathan Investments. That was because of you…”
Jessica looked at me differently now.
“Wall Street is like Korea now.”
We would only need to reap the profits after the fires died out.
“Time will show us the results. We may end up having a bigger firm than Bluestone.”
“I cannot help but believe that from what I have seen.”
“Our clients have decided Jillian will become the CEO, and he will leave the Isle of Man after he agrees.”
“Am I staying?”
“You will take his position after he leaves.”
Jessica lit another cigarette with shaking hands and looked at the new investment proposal. She grabbed it after finishing the cigarette, grinding the butt into the ashtray in her eagerness.
“While this is too much, I know that a chance like this will not come again. Can I decide after reading this? I cannot resist.”
“Of course.”
Jessica finally began to read the proposal, and she looked like a professor going over a report. However, she seemed..disappointed.
“Is this from the same group?”
“What is the problem?”
“It’s not what I had expected. There’s no genius here.”
“It’s from the same group, and their orders should be followed.”
“Is there more?”
“What do you want, Jessica? For America to crumble?”
“How much money will I manage?”
“Twice of the original Isle of Man funds.”
Jessica’s face went rigid at those words.
“Thirty billion dollars…”
“It’s a large amount, but not that much of a challenge.”
Jessica nodded.
“The rules are the same. You will not be responsible for losing money if you follow the proposal.”
“I just need to buy and press down prices.”
“You will also need to head over a hundred elite managers. What will you do, Jessica?”
She did not hesitate.
“I’ll stay.”
***
The new investment proposal was simple, as it only said to buy the major IT stocks in the New York NASDAQ. It was late 1998, and the dotcom era where monkeys could make money was about to come as the world went completely insane for internet startups.
Edited by Userunfriendly