Golden Spoon Investor

After finishing the conversation and heading upstairs, Seok-won let out a small groan, squinting his eyes in mild frustration.

"Ugh. I thought we were done with this conversation, but I didn't expect my father to react like that."

He felt as if he had been blindsided, caught completely off guard. Although he was not exactly young anymore, the idea of his son, fresh out of college, taking a large sum of money and diving headfirst into the cutthroat world of Wall Street, filled with scheming and deception, was understandably concerning from a father's perspective.

"But still… I've survived the even more treacherous jungle of Yeouido's stock market for decades. This is frustrating because I can't exactly reveal everything to him."

Seok-won sighed heavily as he scratched his head, clearly troubled. However, he couldn't afford to just drop everything he had started in the U.S. and return to Korea, letting time and opportunities slip by.

"There's only one solution then. I'll have to prove my abilities to the point where Father can't help but acknowledge me."

Once that happened, his father would no longer be able to interfere or oppose what he was doing.

"Maybe it's for the best. It's better to address this head-on rather than dragging it out."

He decided to take a more positive view of the situation. The issue had already come up, and his father's stubbornness was not something easily overcome.

So instead of wasting energy on a standoff, it would be better to seize the opportunity and settle things definitively.

Relaxing his furrowed brow, Seok-won crossed his arms and thought deeply. "If I'm going to do this, I need to do it right."

As he mulled over his options, he suddenly recalled a conversation he once had with Manager Oh.

----

It was a scorching summer day, and Manager Oh, wearing a short-sleeved shirt and seated in a chair, was clearly suffering from the heat.

"Ugh, it's so damn hot."

He kept fanning himself with his hand, complaining so much that it made Seok-won's ears ache.

Sitting across from him, diligently polishing his shoes with a cloth, Seok-won finally sighed and turned the fan towards Manager Oh.

"Here you go. Is that better?"

"Thanks. But aren't you hot? How come you're not sweating at all?"

"I guess I'm just not that sensitive to heat."

Continuing to polish his shoes, Seok-won replied nonchalantly.

"Damn. I sweat buckets with just a little heat, but you don't even break a sweat. I'm jealous."

"But I'm really sensitive to the cold."

"That's better, though. You can just layer up when it's cold, but in the summer, you can't just strip everything off. That's what's really annoying."

"Huh, I guess you're right."

Wiping the sweat from his forehead with a handkerchief, Manager Oh suddenly asked, "So, do you also not get bitten by mosquitoes?"

"I do get bitten, but less than most people."

Seok-won shrugged, and Manager Oh let out a small exclamation of admiration.

"Wow, you got all the good stuff."

"What's the point? I didn't get any luck when it comes to parents."

Hearing that, Manager Oh, who knew that Seok-won was an orphan, couldn't help but feel a pang of sympathy.

Although Seok-won had said it without any particular emotion, the listener couldn't help but feel for him. The fact that Manager Oh had quietly supported and treated him like a younger brother stemmed from admiration for how steadfastly Seok-won had stayed on the right path in such a harsh world.

The fact that he spoke about being an orphan without any bitterness made him seem even more pitiable.

"Ahem."

Trying to shake off the somber mood, Manager Oh cleared his throat and changed the subject.

"Anyway, like someone once said, the world really does go round and round, doesn't it?"

"What do you mean by that?"

"You know how retro fashion is making a comeback? Kids are digging through their moms' closets for jackets with shoulder pads and knit skirts that used to be in style."

"Oh, I heard something like that on the radio. But why?"

Taking out a cigarette from his pocket and lighting it, Manager Oh replied, "I'm saying that the economy seems to go in cycles, just like fashion."

"How so?"

"After the dot-com bubble burst, there's been a surge in value investing. You've noticed, right?"

"Yes."

Even without Manager Oh's input, Seok-won had picked up on many things while polishing shoes and had a basic understanding of how the Yeouido stock market worked, partly because he dabbled in stocks himself.

"Growth stocks with the 'dot-com' label that used to rise indiscriminately have crashed, so now they're repackaging those low-PER stocks as value stocks."

Smoking his cigarette, Manager Oh remarked cynically.

"Even though I work in this industry, I have to say, they're really good at conning people out of their money."

Seok-won paused, considering what he had learned before responding.

"But low-PER stocks were undervalued relative to their intrinsic value, weren't they?"

"True."

Manager Oh smiled as if to say, "Look at this kid," before continuing with a more detailed explanation.

"You're right; low-PER stocks are undervalued relative to their intrinsic value."

"Exactly."

"But when stock prices soar ten or twenty times over, can they still be considered low-PER or value stocks?"

"…"

"The moment a stock price shoots past its fair value, it stops being an investment and becomes speculation."

Manager Oh's voice grew more serious as he continued.

"People know this, but they close their eyes and play hot potato, thinking it won't be them holding the bomb when it explodes. And when it finally bursts, it's the clueless small investors who get burned."

As Seok-won quietly absorbed the words, Manager Oh tapped the ashes from his cigarette into a paper cup on the floor and crossed one leg over the other.

"The same thing happened in the 90s when the market first opened to foreign capital."

Then, as if trying to lighten the mood, Manager Oh grinned.

"Of course, you wouldn't remember that; you were just a little brat back then. Probably eating dirt and playing in the sandbox, right?"

"Stop treating me like a kid. And for your information, I was already an adult with an ID card by then."

Seok-won shot him a sideways glance, pretending not to care.

"So, is that why you say the world goes round and round?"

"Yeah. This business is ruthless. You better keep an eye on your savings so you don't lose them to some stupid mistake."

The sound of the rickety fan blended with Manager Oh's fading voice.

----

Recalling that moment, Seok-won smiled slightly and muttered to himself.

"The period of low-PER stock surges that Manager Oh mentioned is happening right now."

Even though external funds were pouring in, the reason the index was soaring and securities companies were being called the goose that laid golden eggs wasn't without reason.

Several classic low-PER stocks, including banks, immediately came to mind.

However, Seok-won dismissed the smaller ones and focused on a few standout stocks with record-breaking growth.

"If I want to prove myself to Father, I need to find a tenbagger at the very least."

A tenbagger refers to an investment that yields a tenfold return. It's a rare achievement, but for someone like Seok-won, who had come back from the future, he could instantly think of several such stocks.

"This is the real perk of being a returnee."

Picturing his father's shocked reaction to the extraordinary results, a broad smile spread across Seok-won's face.

"Auntie."

In the kitchen, where she was washing radishes to make kimchi, the housekeeper, Mrs. Gunsan, turned around at the sound of Seok-won's voice.

"Oh, young master! Do you need something?"

Seeing him holding something in his hand, Mrs. Gunsan wiped her wet hands on her apron and asked.

"Do you have a dish that you're not using?"

"Yes, of course. But what do you need it for?"

"A stray cat gave birth to kittens under the deck in the garden."

At this, Mrs. Gunsan's eyes widened as she realized something.

"So that calico cat I've seen around lately was pregnant?"

"I guess so. I heard the kittens crying when I was coming in from my morning exercise. There are five of them."

"Oh my, she had so many. It's amazing, considering how small she is."

Noticing the bag with a picture of a cat on it that Seok-won was holding, Mrs. Gunsan smiled broadly.

"So you bought food for the mother cat?"

The bag featured a cute cat striking a playful pose on its bright yellow packaging.

As if making an excuse, Seok-won scratched the back of his head and said, "She looked so thin, probably because she's been feeding the kittens. I couldn't just ignore it, so I bought some food."

"What a kind heart you have."

Mrs. Gunsan looked at him with a warm smile.

"Even though they're just animals, they say even animals know kindness. You'll be rewarded for this kindness later. Oh, you said you needed a dish, right? Just a moment."

She quickly turned around and opened the cabinet under the sink, rummaging through it.

"I have a dish here that I was going to throw away because it's chipped. Will this work?"

"It's perfect."

Thanking her, Seok-won took the jade-green ceramic dish and left the kitchen. Watching him go, Mrs. Gunsan looked on with a contented expression.

"Unlike other rich kids who cause trouble, he's grown up to be such a kind-hearted young man."

Meanwhile, stepping out the front door, Seok-won placed the dish on the outdoor table and filled it with cat food.

"I wonder if she's still there."

Holding the dish of food, Seok-won carefully knelt on one knee and peered under the deck.

Sure enough, deep in the dark space beneath the deck, he could make out the wriggling shapes of kittens. A calico cat lay on her side, nursing her newborns who hadn't even opened their eyes yet.

Hiss!

Sensing his presence, the calico cat bared her teeth and hissed at him.

Seeing her on high alert, Seok-won didn't want to stress her out, so he pushed the dish closer and spoke softly.

"Hey, I'm just here to give you some food."

Still tense, the calico cat kept hissing, her fur standing on end as if ready to protect her kittens at all costs. But soon, the smell of the food reached her nose, and her nostrils flared.

Sniff, sniff.

As Seok-won pushed the dish a little closer, the calico cat, still nursing her kittens, began to devour the food hungrily.

Watching her eat ravenously, Seok-won felt a pang of sympathy.

"Poor thing… You must be starving."

Though he wanted to watch over her for a little longer, Seok-won decided to give her space to eat in peace, so he stood up and quietly stepped back.

Just as he was about to head inside with the bag of cat food, he heard the sound of the front gate opening.

Turning to look, he saw his older brother, Jin-hyung, arriving with Gil Sung-ho, the chief of staff.

"Hey, you're back?"

Seok-won greeted his brother warmly and extended a familiar greeting to Chief Gil.

"You're here too, Chief."

Chief Gil responded with a gentle smile, "How have you been?"

"Oh, I've just been on break, so there's not much going on."

As the two exchanged pleasantries, Jin-hyung noticed the bag of cat food in Seok-won's hand and asked, "What's that?"

"Oh, this? It's nothing. A stray cat gave birth to kittens under the deck, so I brought some food for them."

"I see."

Sensing the serious tone in his brother's voice, Seok-won quickly shifted the conversation to avoid any awkwardness.

"So, what brings you here suddenly?"

"There's something I need to discuss with Father."

Jin-hyung, wearing his usual stoic expression, gave a brief reply.

Glancing at Chief Gil, Seok-won realized that it must be a business matter and decided not to press further.

"Father's probably in the study. You should go talk to him."

Jin-hyung nodded slightly and walked past him. "See you later."

Chief Gil also gave Seok-won a slight nod before following Jin-hyung into the house. Watching them leave, Seok-won quietly muttered to himself.

"The fact that they came together… did something happen at the company?"

Then, a thought crossed his mind.

"Oh, right. Kim Sung-gyu was elected president a few days ago."

The election marked the end of 32 years of military rule since May 16 and the beginning of a civilian government. It was a significant moment, and companies were naturally on edge, closely watching the leadership changes.

"Although things won't change drastically even later, this is a time when companies are particularly sensitive to the government's movements. I suppose it's only natural."

TL/n - 

A "tenbagger" is an investment term coined by the famous investor Peter Lynch. It refers to an investment that increases in value by ten times its initial purchase price, or a 1,000% return on investment (ROI).

***

The Price-to-Earnings Ratio (P/E Ratio or PER) is a key financial metric used to evaluate the valuation of a company's stock. 

The P/E Ratio is a tool that helps you understand if a stock is priced fairly based on how much money the company makes. Think of it as a way to see if you're getting a good deal when you buy a stock.