God of stocks chapter 429

Chapter 429 How to solve the situation (1)

However, even though Kim Jeong-soo couldn’t stand anger while yelling, the bosses weren’t even blinking. Last time, though, I showed a flinch and react to his words, but now there is no such thing. Rather, some began to argue against Kim Jong-soo, who was screaming with their heads pressed.

“Vice Minister. No matter how it was, I couldn’t help it. Don’t just talk about your position, please think about our position.”

“What is the story that cannot be helped? Did you think others wouldn’t know that this was because you didn’t want to pay your customers? Let me tell you something. Are the others stupid?”

“I know that other people don’t know. And I know people aren’t stupid. But how? That’s because the computer is programmed to automatically pay off in the loss confirmation section, but we couldn’t help it.”

“Then, wouldn’t it be good if we prevented us from coming to the loss confirmation section?”

“How do you keep it from coming?”

“Are you asking because you don’t know? Wouldn’t it be nice if you bought it and blocked the index?”

Kim Jung-soo talked with an angry face, but the bosses who were in the seat looked at each other and laughed. Kim Jung-soo’s face looked like it was teasing. People pretended not to know that it wasn’t because they were angry, but they couldn’t hide the ridicule on their face from Kim Jung-soo.

It seemed as if smoke was emanating from the tip of Kim Jung-soo’s head.

“Vice Minister. Are you telling us that you really don’t know that we are not able to afford because we bought too much last time even though we wanted to buy it? If I knew this would happen, I didn’t buy it excessively last time. At that time, he told me to buy it, so we couldn’t help it.”

“So, are you saying that this kind of situation happened because our finance department is trying to buy you guys?”

“If I had left it to autonomy in words, wouldn’t it have come to this kind of situation? Didn’t it happen after being forced to control the Ministry of Finance?”

Deputy Minister Kim Jung-soo’s face seemed to be red and burst because he couldn’t. Kim Jung-soo exploded as the bosses said it was because you asked to buy it.

“Do you know what you’ve done now and say that? 1,100 were broken today. Do you know?”

“How do you not know? So, aren’t we all gathered here? Deputy Minister, the people gathered here are not fools.”

The person sitting halfway bluntly answered Deputy Minister Kim Jeong-soo.

As the index collapsed after a sidecar at 2 o’clock, the Ministry of Finance urgently brought back the people gathered at the last meeting.

It was a meeting in about 20 days, but it was a completely different atmosphere from the time.

At that time, the index was set at 1,400. And it raised the index by 70 points with a buy order close to the threat of the Ministry of Finance.

However, everything that was bought at that time turned into a bomb and fell into the arms of each securities company and asset management company. The losses of the companies gathered here were close to trillions of won.

They thought the Ministry of Finance had some countermeasures, but over the past twenty days, they had not come up with any countermeasures, and they had lost trust even in the institutions as they were only working on the institutions. And they couldn’t stand it and countered the pressure of the Ministry of Finance head-on. The damages already inflicted by the Ministry of Finance were significant and seemed disappointed by the Ministry of Finance’s pretending not to know it.

Lee Sang-hoon looked at this with fun.

It seemed ridiculous to see grown-up adults fighting, saying it’s your fault or your fault. And the more they fight like this, the better their pockets become.

“Vice Minister. ELS can’t help it. Now that the losses are snowballed like a snowball, you have to return them to your profits, so whether you buy or do anything, won’t you be ready for live ammunition? Now, with more outgoing funds than incoming funds, it was an unavoidable choice for us.”

“So what about individual investors who have invested in ELS? Would they curse you? Are you not going to curse the government?”

Today’s crash was due to the liquidation of ELS. If the stock price of the KOSPI or contracted stock is in a certain price range, ELS was the product that gave a better interest rate than the bank rate. However, if it entered the Knock-IN section, which is a section that should not be touched on the contract, it was a product that caused a loss of principal.

It was a kind of product like KIKO of individuals.

Now, as this ELS neared the knock-in section, institutions poured out their sell-offs in an attempt to move the principal money from the pockets of individual investors to the pockets of institutions with just a touch. In this way, the ELS products entered the knock-in section, and the ELS that entered the knock-in section were liquidated and a vicious cycle emerged.

It was a situation where Kim Jung-soo was going to get angry, and the bosses of securities companies were also in a situation where it seemed impudent.

However, as if the bosses weren’t interested at all, they started asking Kim Jong-soo without agitation even at Kim Jong-soo’s words.

“But isn’t the current government friendly with the media? Why don’t the media write articles in the way that the global economy was inevitable due to the downturn in the global economy and lead the story to the wrong choice of individual investors who made such investments?”

The talk of changing the direction of public opinion using the media was casual. And Kim Jung-soo, who heard it, wasn’t even angry. Whether it was because he thought there was only that way, or because it was considered insignificant, he did not think much about the manipulation of public opinion using the press.

“Would individuals be willing to invest in ELS with a massive loss in ELS this way?”

“Vice Minister. You don’t have to worry about that. If we are not ELS, we can make ELT or ELF, or we can make and sell DLS. If the market is stable, you just change your name and sell it. It’s not a business, so you don’t have to worry about that.”

“Whew~. Do it yourself.”

Lee Sang-hoon pouted and looked at the bosses. In the end, he was saying that he would only change the name of ELS and sell only the stocks that invest in it a little and sell it to individuals again.

People who invest in harsh interest rates are also a problem, but seeing each brokerage company who thought it wasn’t a job to cheat those people, his head shook by itself.

“Then, are the live cartridges ready now? If you have made a live cartridge, please buy it.”

“I want to buy. But the atmosphere doesn’t make you buy. How would you buy it? Honestly, which of us can afford to buy now?”

“Oh~. There is one place.”

The eyes of the bosses gathered to Lee Sang-hoon, who is sitting at the very end. SH Partners’ position was the same as it was open to everyone because it is carrying out loan transactions with funds from Dongseo Securities and National Pension Service.

I just didn’t pay much attention to the spot where SH Partners went on sale because it was a place where a big rebound was going on. Now, the spot was acting as a pulse, and it was a wonderful selling spot.

“Vice Minister. I don’t think it’s better to let us open up that sell position rather than ask us to buy.”

Arrows were gathering to Lee Sang-hoon. However, Lee Sang-hoon did not give in to their gaze and said with a smile.

“why? Would you like to release my short position?”

“Isn’t it right that if a young friend wants to do things in the country, he should help? What would you do if the vice-minister sits down and asks for a request, but you are still in the sell position?”

“I do not know. I can’t because I don’t have other pockets like ELS like you guys do?”

“what?”

“Who caused the current crash? In the end, wasn’t it that you made a break in 1,100 by forced liquidation of ELS? If it hadn’t been for the forced liquidation of ELS, wouldn’t it have gotten down here?”

At Lee Sang-hoon’s words, the president’s team drew attention. Because they knew who was the cause of today’s crash.

Lee Sang-hoon looked at Vice Minister Kim Jeong-soo who looked at himself and said.

“Vice Minister. Who stopped the last low? Who blocks the circuit by buying it when the circuit bursts? Without pretending to be tinkered with buying, I definitely blocked the index. But I’m really disappointed when I tell you to buy it again.”

“Representative Lee. So, didn’t I drive the national pension fund? I think I need to help you out again.”

“The maximum amount of money received is 500 billion. Is there a place with less funding here than me?”

At Lee Sang-hoon’s words, Kim Jeong-soo could not say anything. As he said, 500 billion won was not a small amount of money, but overall, it was the smallest amount of funds for the consignment management of the National Pension Service allocated to securities companies and asset management companies.

Each brokerage company was operating with a small amount of money allocated from a small tank to a maximum of 10 trillion.

Out of the 120 trillion commissioned management funds, 500 billion was only a small fraction.

“The total assets we manage is less than 1 trillion. That’s about it when it includes the funds from the National Pension Plan. If the national pension fund is subtracted, it is only the level of one fund rolled by the people here. But I don’t think something is right to tell me what to do with buying. The Vice Minister will also know. The people here say that they cannot afford to buy, but isn’t it the same level of common sense that the level of not being able to buy is more than our total assets? Talking about our SH Partners sounds like you don’t want to buy.”

Feeling that Lee Sang-hoon’s words were valid, Kim Jung-soo shouted, looking back at the bosses sitting in the front seats.

“First, execute the funds generated by the ELS forced liquidation. And see you again tomorrow. We met tomorrow and the index is falling again. Then be prepared.”

Kim Jung-soo got up from his seat.

The bosses followed Kim Jong-soo and saw Kim Jong-soo leaving.

After finishing the send-off, Lee Sang-hoon stood up after looking around the bosses who continued to talk. They looked at Lee Sang-hoon leaving, but did not talk or follow him.

It still seemed to them that SH Partners was like a stranger.

Lee Sang-hoon returned to the office and received a report of the deadline. Lee Sang-hoon only nodded silently at the level of stories that are still invisible. I didn’t talk about katabuta.

Then, as he entered the office, he called in only Kim Hee-yeol.

“Is what you went well?”

“Well, just that.”

As soon as Lee Sang-hoon sat on the sofa, he gave instructions to Kim Hee-yeol, biting a cigarette in his mouth.

“Maybe it will continue to be called tomorrow and the day after tomorrow. Maybe tomorrow will be called from the morning. So you keep texting the situation when I’m away and let me get ready for the talk.”

“Where did you talk?”

“okay. I’m nervous from under 1,000.”

“1,000 under?”

The index, which was likely to break 1,100, rebounded to the 1,130 line and ended. In terms of the index, it was more than 10%, but in the volatility of today, it would not be strange to see a drop of over 1,000 tomorrow, so Lee Sang-hoon’s words were like saying that he should be nervous from tomorrow.

“I thought you were joking… … . 1,000 under is coming.”

“I was under pressure today, but I think the buying pressure will come in stronger. I’ll endure so you stand here. And think of it as going from under 900 to switching.”

“Up to switching? You haven’t switched in the meantime.”

“okay. But this time, I’m thinking of switching and opening the sell position. So it can be a little busy. no. Maybe it’s easier. By then, the bombs will be poured out. Maybe it could be easier. So be prepared to proceed even if you don’t have me.”

“okay. Okay don’t worry.”

“But I’m a little glad you’re there.”

Lee Sang-hoon deeply inhaled cigarette smoke.

Anyway, like last time, at some point, they would have to buy as they intended. However, I did not intend to easily release the short position I am holding. I thought I would be able to calculate the value of hearing this strange sound if I had to solve it after getting as much as possible and getting something to get.

Lee Sang-hoon continued to smoke and asked while watching the European market just starting.

The impact of the collapse of the Asian market was passing over Europe and back to the US. The vicious circle did not break, and the ball went back to America.

In the United States, measures to overcome the credit crunch crisis are coming out every day, but the United States was again making the atmosphere harsh again, asking to use the interest rate cut card once more.

In anticipation of a 50bp cut, FF interest rate futures moved first, and accordingly the stock market plunged deeper.

Oil prices fell more than 7%, broke $70 and settled at $65. The number of mortgage applications was the lowest in eight years, and declared that the real estate market had closed.

It has been said that Pakistan has applied for an IMF bailout and that Argentina is preparing a default declaration. The credit crunch in the United States was now moving to emerging markets, causing concern about a chain default between countries.

New York’s top three indexes started hitting all-lows again.

The seats called from the next morning were an extension of the previous day’s conversation.

“Did you come up with a measure? Both KOSDAQ and KOSPI are sidecars again. How on earth should I buy it?”

What was different from yesterday was that Kim Jeong-soo is now begging for the presidential team. It seemed to have changed the operation, thinking that it would not be beneficial to go out forcefully, and the bosses were unlikely to hear anything.

However, despite the changed operation, the bosses did not budge. Rather, it seemed to enjoy watching Kim Jung-soo begging.

The KOSDAQ has changed its lowest level since 2004, and the KOSPI broke 1,100 at the beginning and fell down to -9%, touching the 1,020 line.

During the meeting, Lee Sang-hoon’s phone kept ringing. Because it was silenced, other people did not know, but the current situation was depicted by the figures of the staff of the Ministry of Finance who came into the conference room to deliver a message during the meeting.

The market was now trying to get out of the realm of reason.

korean novel God of stocks chapter 429

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