Chapter 45: The End of the 80s (4)

The first CDS sale was a small-scale transaction of around 10 billion won.

While 10 billion won might sound like a large sum, it’s considered small-scale because major funds often trade not 10 billion won, but 10 billion dollars.

Furthermore, the first CDS transaction only involved a premium of 500 million won, making it even smaller. It wasn’t very helpful to Daeha Investment Bank.

The real deal comes next.

[What is Credit Default Swap (CDS), the new financial product in the Eastern financial market?]

[Nomura Securities concludes additional CDS transaction with Daeha Investment Bank…]

[Deepening Eastern European crisis, experts point to risk of sovereign debt default]

[JP Morgan sells $100 million worth of Credit Default Swaps…]

[ISDA expresses the opinion that Credit Default Swaps should also be subject to the association’s review in principle. Many opinions also call for the standardization of contract forms that are currently all over the place…]

The financial people took the bait.

“Isn’t it a shame? It’s a product you developed, missy.”

Sihyeon, who had returned from vacation and was showing off her enhanced beauty, made me coffee while skimming the newspaper.

“Oh, you can read English now?”

“…Don’t underestimate me. I’ve been reading the newspapers you read for five years now.”

I wonder. Even if you trust your neighborhood friends, why would you just sign a guarantee? I was surprised by the background check, man.

Well, I coaxed the so-called younger siblings who had been taking advantage of my secretary, and made them work under Seo Ju-eun, another secretary. They were a little rebellious, but water always finds its level.

“The goal wasn’t to sell CDS, but to spread it, so I have no regrets. That’s how financial techniques are.”

It’s not like I didn’t get it from JP Morgan. Even if they take it back, I won’t feel wronged.

Anyway, JP Morgan, a legendary investment bank that developed CDS in the original history, started handling credit trading before Alpha Fund.

They recognized the true value of CDS.

“This is FTD, and that’s TRS… Hah, it’s really amazing.”

I only introduced the concept that ‘credit’ itself could be traded, but other derivatives based on the CDS portfolio I created were already pouring out.

This is the power of Wall Street.

The heart of global finance, where those who lag behind even for a moment get eaten…

That’s why they are geniuses of innovation and imitation.

“…I don’t quite understand, but I know it’s something great. But isn’t it within your expectations, missy?”

“That’s right.”

The rapid establishment of CDS is partly due to the rapidly increasing demand because of the Eastern European economic situation, but it was also greatly helped by me generously releasing a portfolio containing all the know-how.

It’s usually confidential, but I disguised it as a mistake by a newbie company and released it into the market. By now, Wall Street fund managers would be laughing and popping champagne.

“Whew… anyway, a lot has changed in a short time. Taking a month off was nice at first, but then I got bored and had some headaches.”

Sihyeon grumbled but diligently served me. I enjoyed the secretary’s massage, stretching my legs and lying down slightly.

“Ah, this is comfortable. I missed this feeling.”

“You seem to have managed well without me for a month. You’ve grown up, missy.”

To Sihyeon, who looked at me awkwardly, I said casually.

“I have other secretaries and maids. I managed on my own in the past.”

-Flop.

I threw the newspaper I had finished reading and jumped down to the floor.

-Thump.

With a small, dull sound, the coffee cup swayed.

“Sihyeon, did you take any pictures on your vacation?”

Because she was such a workaholic, I told her to take pictures and show me what she did every day. If I didn’t do that, she’d probably spend half her vacation exercising.

“Ah, yes… I brought the developed photos today. You’re really obsessive, missy… I billed you for the film, so keep that in mind.”

“Yeah, show me quickly.”

Sihyeon rummaged through her bag and took out dozens of photos in a plastic bag and gave them to me.

“Oh, half of them are at the beach.”

Hehe.

I have to see this, at least.

Sihyeon, wearing a tank top and dolphin shorts, looked at me with slightly pitying eyes.

“What are you staring at?”

“…Nothing. I just think you won’t find what you want.”

I flipped through the photos, confirming that she was right, and dejectedly let my arms hang down.

“Oops.”

Seriously, they’re all one-piece swimsuits.

It’s not bad… but…

“What? We bought swimsuits together at my department store last time? Why aren’t you wearing a bikini?”

That was when I first realized the joy of shopping, I thought, ‘This is why women go shopping.’

When I called the employees and got the clothes, my legs didn’t hurt, and since they were department store employees, they knew a lot about fashion and gave me high-level flattery.

But Sihyeon blushed and shook her head.

“How can I wear those indecent clothes? You’re the strange one, missy. You liked seeing naked people, but you felt shame, didn’t you? Does it make sense to say you like these scraps of cloth?”

A subtle smile formed on my face.

“Hmm… I used to feel that way. Now, it’s all fine.”

I originally disliked women’s clothing… but as I kept wearing them and got used to the shame, what remained was extreme narcissism.

Thanks to that, I bought a lot of clothes. It was summer, so I got swimsuits too.

“Even so… people will stare, and your siblings are there, so wearing a bikini is a bit…”

Hmm, I see.

It’s still July…?

The peak of the Eastern European revolution is from November, so there’s still plenty of time. I can work even while on vacation.

Okay, I’ve decided.

“I’m on vacation, so let’s go on an overseas trip.”

“…What?”

“I had to go to America for Alpha Fund business anyway. Since it’s my first time going to America, let’s extend the business trip and go to the Caribbean.”

I happened to have a private island there. To be precise, it was bought by Hayeon, the American… but the ownership will transfer to me once the foreign exchange outflow regulations are lifted, so it’s mine.

“No, but… now? I just got here…”

“It’s for work, so it’s fine. We’re not going now, we’re going in two days, so prepare.”

I originally planned to go in about ten days… but I can’t change the meeting date, so I have to go early to play.

Ideally, I’d like to go after finishing all the work, but that would interfere with the summer vacation. I also have plans with My Ryeon.

School is the problem.

Caribbean Sea.

Wearing a clean white bikini, I enjoyed my vacation. The bright sunlight and cool breeze… the wide ocean view was very appealing.

Especially, I liked the fact that there was no one making noise.

This is why rich people buy islands as resorts.

“…But if you’re going to look at documents, you don’t need to wear a swimsuit, do you?”

Sihyeon stared at me incredulously.

“I told you, it’s for work. Since I’m already in the Caribbean, I have to check the local corporation as well.”

The Caribbean is famous for tax havens. That’s why Alpha Fund’s corporation is here.

It’s a paper company that only exists on paper, but since the Internet isn’t developed yet, there were still a few things I had to do in person.

“And it’s also a vacation!”

I smiled at Sihyeon’s swimsuit attire. Sihyeon, maintaining her body from her teens through consistent self-management, covered her chest with her arm upon seeing my gaze.

‘Nice… as expected, the beach is the best in summer.’

I pressed and stroked her firm 11-pack abs, and Sihyeon pushed my hand away, doing a light moonwalk backward.

“…You’re something, missy. Is this why you didn’t bring the nanny?”

“That’s right. And it’s difficult to do bad things when the nanny is around.”

“…Why don’t you just play in the water normally? I was bored when I was young because I didn’t have much to play with, but you didn’t have that problem.”

Sihyeon mumbled and started telling stories from the past.

Stories about how she liked Squid Game when she was young but stopped after puberty because she often tore her clothes, how she used an expensive toy her great-uncle gave her for over ten years, how she almost got her head cracked in a rock fight in Incheon…

‘Why would you do a rock fight…??’

More importantly, please don’t talk about Squid Game on a deserted island. It’s creepy.

“This is my way of playing. I like games, but they’re still crude, aren’t they? Making money is always thrilling.”

Smiling, I poked Sihyeon’s chest and asked.

“Ah, Sihyeon. Did you bring the newspaper?”

“Yes. It’s strange to be working properly in a resort… I knew, but it feels strange. People’s hearts are so fickle…”

Sihyeon grumbled and opened the crossbody bag she had over her bikini and tossed a few newspapers at me.

[East German citizens are fleeing across the Hungarian border… Otto von Habsburg, head of the House of Habsburg, also expresses his support]

This was good news.

“Since Hungary has already joined the free world… it’s just a matter of time for the others.”

“Even so, it seems like it will take quite some time for East Germany to collapse.”

Sihyeon, who hadn’t heard my prediction about the Soviet Union’s collapse, tilted her head.

‘Right. No one expected East Germany. It collapsed almost by accident… tsk, the butterfly effect might delay its collapse.’

Having sorted out my thoughts, I nodded.

“Right, that’s possible. Even if it’s difficult, I need to go to Germany in November.”

“…What?”

Why?

It’s a trip.

But I have to see the historical moment when the Berlin Wall falls.