The Overly Competent Junior Employee

“To think it could fall this much just on suspicion.”

Meanwhile, Ryu Tae-hwa, Branch Manager of Yuseong Investment Securities’ Seongnam Branch, was furrowing his brow as he checked the screen.

As soon as doubts about M-Biogen’s new drug were raised two days ago, M-Biogen’s stock price began to creep downward.

And when the suspicions were officially reported, it hit the daily limit down, with the stock price now having fallen more than 40% from its peak.

“Of course, this isn’t unprecedented, but…”

Ryu Tae-hwa began to recall past memories in the face of this rarely seen spectacle.

Such scenes were particularly common among pharmaceutical stocks, even among stocks that had risen rapidly.

Faith built on rumors about new drug development, rather than on data based on actual performance, was like a sandcastle washed away by gentle waves.

And with no visible data, people pressed the escape button at the slightest noise, thinking they had to get out first to survive. As these sentiments accumulated, the stock price fell, and two weeks of gains were wiped out in just two days.

“The Chairman must be suffering heavy losses too.”

Even in this situation, the Group Chairman came to Ryu Tae-hwa’s mind.

Although Sim Ju-won hadn’t said anything since meeting the Chairman, Ryu Tae-hwa knew from the moment he heard that the Chairman had invested that he wouldn’t follow Dokyung’s report that he had brought.

“Confirmation bias.”

The Chairman had probably ordered each division to prepare reports to justify his choice, refusing to admit that his decision was wrong.

Constantly seeking to justify his choice, he would have only received reports related to it, and Dokyung’s strongly worded report would not have been to his liking.

“I think I should call Yoon Dokyung-ssi…”

Feeling the need for Dokyung’s broad perspective, Ryu Tae-hwa picked up the phone.

Knock knock-

Just as Ryu Tae-hwa was about to make the call, there was a knock, and a moment later the door opened as Dokyung entered the room.

“Oh, Dokyung-ssi. I was just about to call you.”

“Branch Manager.”

Dokyung approached Ryu Tae-hwa and placed a file folder on his desk.

“What’s this?”

“You mentioned that your client had invested in M-Biogen.”

At Dokyung’s words, Ryu Tae-hwa recalled the memory.

He had created a fictional client when he had tried to brush off the question.

“Ah, yes.”

“Is that person still holding?”

“Probably so.”

At Ryu Tae-hwa’s answer, Dokyung furrowed his brow and tilted his head.

Probably…

It wasn’t the kind of answer he’d expect from the Ryu Tae-hwa he knew.

But that wasn’t important right now.

“I think it would be good to liquidate the position even now.”

At Dokyung’s words, Ryu Tae-hwa opened the file folder, and Dokyung continued his report.

“If the position was taken before it became official, getting out today would limit the loss to around -10%.”

“Looking at the report, I can clearly see why everyone is raising questions.”

It was a report that easily summarized how M-Biogen’s conference presentation was flawed.

“Yes, right now it’s just raising suspicions, but when the media starts digging in earnest, it will fall further.”

Currently, articles were simply reiterating the doubts raised by a university hospital doctor, but once journalists seek out experts to report on what’s wrong with the test report, there would be no turning back.

“It would be good if they could sell, but I’m not sure if my words will be heard. They seem to have fallen into confirmation bias.”

“They might be convinced if there’s an alternative.”

“An alternative?”

At Ryu Tae-hwa’s question, Dokyung handed over another prepared file folder.

Ryu Tae-hwa, who had already been curious about the file folder in Dokyung’s hand, began reading it as soon as he received it, and after finishing the report, he looked at Dokyung with a surprised expression.

“I’m not sure about the short-term flow, but in the long term, this stock could rise two or three times or more.”

Dokyung spoke with a confident expression, and Ryu Tae-hwa stared at him blankly.

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“Did you predict M-Biogen would end up like this?”

Meanwhile, Sim Ju-won, Vice President of Yuseong Investment Securities, had been summoned to the Group Chairman’s office.

The Chairman asked Sim Ju-won with a stern expression, seeming to hide some urgency while trying to maintain composure.

“I didn’t predict it.”

“But this report says you wouldn’t buy it. As if foreseeing the current situation.”

Sim Ju-won looked at the Chairman with a hardened expression.

“Chairman, I’ve been in the stock market for 20 years since joining Yuseong Investment Securities.”

“……”

“I didn’t make a prediction. I spoke based on my past experiences and my philosophy.”

“Past experiences and predictions…”

As the Chairman mulled over his words, Sim Ju-won continued.

“I’ve never run a business or managed one, but I’ve seen your interviews. You said that when you start a business, you first check if there’s a future in that field, and if there is, whether it has substance.”

The Chairman nodded slowly.

“Stocks are the same. Buying stocks is an investment. It’s like entering a business where you need to consider the company’s future and whether the business they’re engaged in has substance.”

At Sim Ju-won’s words, the Chairman felt he might have missed the most important thing.

Blinded by something, he had forgotten that buying stocks was an investment due to his impatience.

“When our group does venture capital, investing money in new ventures and receiving shares, it’s also a form of stock trading. To be frank, I’d have to say that your purchase of M-Biogen stock was speculation, not investment.”

The Chairman’s eyes trembled as he looked at the securities company executive speaking his mind in front of him.

“Are you getting revenge because I ordered your personnel transfer?”

“……”

“Is that why you want to humiliate me now with such harsh words…”

Sim Ju-won didn’t respond to the Chairman’s words.

He hadn’t meant to humiliate him, nor did he harbor any resentment. He had simply spoken hoping to wake the Chairman up if he still held vain thoughts.

The Chairman stared at the silent Sim Ju-won for a while before finally sighing.

“Do you know how much inheritance tax I have to pay this year?”

“About 200 billion won, isn’t it?”

“How do you know about my inheritance tax…”

“Because I’m in the securities company. It’s also something to consider when investing in Yuseong Group.”

In fact, the owner’s inheritance tax was an important factor when investing in stocks. When an owner sells their shares or parts of affiliates to pay inheritance tax, the stock price inevitably falls.

“Out of the 200 billion won, I’ve only prepared 100 billion in cash. I used 50 billion of that to invest in M-Biogen this time. In the current situation, Yuseong Group wouldn’t be an investment target from a securities perspective, would it?”

Sim Ju-won could finally understand why the Chairman had tried so hard to see only the good points of M-Biogen, believing the words of Seo Gihwan from Gwangjin Group.

It seemed the Chairman had sought a way to pay the inheritance tax without selling his shares.

For a method devised to make a lot of money in a short time, the price was too high.

It was the price of treating stocks as speculation.

“Are you going to sell your shares?”

“What else can I do but sell?”

Sim Ju-won thought there was only one reason the Chairman had called him. Even if he was speaking like this in front of him now, he knew the Chairman was saying this after reading the report he had handed over.

“I think there might be a way to recover.”

“What?”

“I’ll go back to the securities company and look for a way to recover.”

“Is, is that possible?”

“I can’t give you a definite answer, but I’ll find a way.”

The Chairman hesitated for a moment at Sim Ju-won’s words before nodding. Right now, trusting an expert was the best option.

“I believe in the pride you’ve shown me as a securities professional. I’ll tell the secretariat to hand over my securities-related documents to you.”

At the Chairman’s words, Sim Ju-won stood up and bowed.

“I’ll show you results worthy of your trust.”

“Vice President Sim.”

As Sim Ju-won was about to turn and leave, he stopped at the sound of the Chairman’s voice and looked back at him.

“Please.”

For the first time, the Chairman acknowledged his position and spoke to Sim Ju-won with a humble attitude.

Seeing this, Sim Ju-won bowed in response instead of answering and left the Chairman’s office.

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‘There are stocks that could drive the price up in a short time, but I’m not sure if they’ll yield the profits you want.’

‘Usually, short-term profits come from pharmaceutical or tech stocks, but as you know, the market right now…’

‘It seems investment sentiment has been dampened by the M-Biogen incident. Until the atmosphere turns around, new investments…’

Returning to the securities company, Sim Ju-won called various Branch Managers to ask for their opinions.

The unanimous response was that the market conditions were not good.

Even the Leaders Branch Manager, who was said to receive a higher salary than the CEO, was pointing out the poor market conditions.

“The reports don’t look good either.”

Due to the M-Biogen incident in which the Chairman had invested, market sentiment was poor. In a situation where even sound pharmaceutical stocks were being affected, stock prices continued to fall.

Buzz-

As he was pondering the situation, his mobile phone vibrated, and checking the screen, Sim Ju-won pressed the call button on a familiar number.

“Oh, Tae-hwa.”

-Vice President-nim, are you busy by any chance?

“No, it’s fine. What’s the matter?”

-It’s nothing much, but I was wondering if I could ask if the Chairman invested in M-Biogen…

Sim Ju-won laughed unexpectedly at the words coming through the receiver.

“You’re interested in such things too?”

Ryu Tae-hwa was the type to work hard on assigned tasks but not curious about what came after.

It was natural for Sim Ju-won to find it strange.

-Well, since the report I gave to you was written by our employee…

“He did invest. He didn’t even glance at the report.”

A sigh flowed through the receiver at Sim Ju-won’s words, as if it had been expected.

-Then, was there no contact afterward? If he had checked the report belatedly…

“I went to the Group this morning and met the Chairman. He spoke as if asking me to find a way.”

-…May I ask about your response, Division Head?

“I told him I’d find a way.”

After a moment of silence, Ryu Tae-hwa began to speak.

-Have you found it?

“Well… not yet.”

-May I help you?

Sim Ju-won couldn’t hide his surprise at Ryu Tae-hwa’s words.

Ryu Tae-hwa had little experience in the field. He was an employee who had been hired as a headquarters staff and managed branches from the head office until he went to the Seongnam branch.

Although he was a securities firm employee, Ryu Tae-hwa, who wasn’t well-versed in stocks and didn’t usually take the initiative, was now offering to help.

“You?”

-To be precise, there’s a stock report written by Yoon Dokyung-ssi. I’ll come to the headquarters right away.

As Dokyung’s name flowed out, Sim Ju-won began to feel a sense of expectation.

“Can you get here within an hour?”

-I’ll leave right now.

“Come straight in.”

With those words, the call ended, and Sim Ju-won stroked his chin, lost in thought.