A Wall Street Genius's Final Investment Playbook-Chapter 78

If Pierce tried to get rid of me, I had to get rid of him first.

It wouldn't be easy to eliminate the MD boasting the department's top performance and a potential future executive.

But, it wasn't impossible either.

"I don’t really want to waste unnecessary time on this…But if there's an obstacle in my path, whatever it is, I must remove it."

As I was pondering this, Pierce smirked.

"I don’t believe you, but the plan itself isn’t bad."

This meant he wasn’t foolish enough to believe my bluff, but he also didn’t plan to kick me out over this.

"If something like this happens again, the story will be different, though."

However, this was a warning that there would be no forgiveness next time. Normally, I would have bowed my head here…

"Unless it's an unavoidable situation, this won't happen again. Even if such a time comes, I’ll make sure to get permission like I did today."

I implied that I would continue to push the boundaries like I did today.

Of course.

My goal was to become the general at the forefront of the "Bread War."

I had no intention of quietly playing the role of a mere soldier.

I looked straight at Pierce and said, "Use me."

This was both a proposal and a subtle warning.

I didn’t necessarily have to climb to the top of the command structure. Being one of Pierce's generals would suffice for my goals.

So, I was willing to yield that position to Pierce, on the condition that he treated me as a general, not a foot soldier.

If he did that, I’d respect and consider him as much as possible, just like how I maintained his dignity in front of the CEO today.

But if he kept trying to demote me forcibly to a mere soldier?

Then I’d have to enforce Wall Street’s first rule.

Which side would Pierce choose?

"Interesting."

It was a somewhat ambiguous reaction.

Was he planning to reserve his judgment for now?

Pierce gave a brief chuckle and picked up the eye mask provided by the airline.

"Wake me 30 minutes before arrival."

After giving this brief instruction, he put on the eye mask.

This meant the interrogation was over for now.

‘It feels like he has a hidden agenda…’

Pierce is quite a sharp individual. He’s also pretty aggressive by nature.

But knowing that I deliberately withheld time-sensitive information and detonated it, he didn’t impose any sanctions?

Even when I said I’d continue to cross the line, he still let it go for now?

Something didn’t sit well with me.

‘Does this mean he sees value in using me…?’

If it's Pierce, he might have identified some utility in even my current actions.

But how could the current situation be beneficial to Pierce?

‘Well, I’ll know if I observe a bit more.’

I thought about digging deeper into this but soon gave up. There were more urgent matters than figuring out Pierce’s intentions right now.

Whitmer’s choice was the immediate concern.

Pierce proposed to quash the election, while I proposed to proceed with it.

‘Which side will he choose…?’

Compared to Pierce's plan, which risked losing the real estate without gaining much, my strategy still left a chance to retain the property.

But I couldn’t be entirely confident that it would be enough.

‘Should I have revealed the bomb-defusing strategy from the start?’

The truth was, my proposal today wasn’t a complete bomb-defusing plan.

Acquiring the brand was merely a temporary distraction to buy time.

In other words, I hadn’t disclosed all my cards yet.

But was that a wise decision?

If I had laid out all my strategies, Whitmer might have accepted my plan without hesitation.

But…

I shook my head.

‘That would’ve increased the risks too much.’

I had to remember.

My real goal wasn’t to win Whitmer’s favor or even to protect Epicura.

It was to use the "Bread War" to make my name known far and wide.

That meant I had to be wary of the butterfly effect.

Every single action I took now would impact Whitmer’s future moves.

‘If I reveal too good a card early on, the upcoming shareholder meeting might lean excessively in Epicura’s favor.’

But if that happened and the great white shark didn’t show up, it would be a disaster.

That would only end up benefiting Epicura without yielding much for me.

Thus, I had to tread carefully for now.

The early stages had to unfold as they did in my previous life.

Epicura bleeds, the great white shark sees it and attacks, and amidst their attack on Whitmer, they target Unlimited Bread.

The moment to unleash my ultimate move was then.

For now, there was only one task left.

‘Will Whitmer go forward with acquiring the new brand?’

This acquisition was essential for my plan.

Only then could the narrative shift to Epicura winning, creating a favorable base for our future.

To finalize the acquisition before the shareholder meeting, a decision had to be made as soon as possible, within three days at the latest.

Even though I did my best to persuade him, I couldn’t be sure of Whitmer’s decision.

I had no choice but to wait for the result.

***

At the same time, at Epicura’s headquarters.

Whitmer was enduring a storm of criticism during a conference call with major shareholders.

The issue was the sale of Harbor Lobster.

[We have reiterated our strong opposition. A deal of this magnitude must be brought to a vote at the shareholder meeting. Can you promise to suspend all procedures related to the sale until the meeting?]

Of course, Whitmer couldn’t make such a promise.

The final contract was scheduled to be signed next week.

“I intend to make the best decision for the business.”

[So, you’re not suspending it?]

[If this is about business considerations, I trust you’ve thoroughly reviewed Medallion’s proposal.]

The speaker was a PM from Vanguard Group.

Vanguard held a substantial 9% stake in Epicura.

[The plan to separate into mature brands, growth brands, and REITs seemed quite feasible…]

Once again, the real estate issue.

Whitmer clenched his fist as he responded.

"Separating the real estate is an unwise choice. Real estate accounts for 10% of operating expenses, a massive expenditure item."

Whitmer had his reasons for trying to keep the real estate.

"Harbor Lobster is already vulnerable to fluctuations in seafood prices. The cost of raw materials, which makes up 30% of operating expenses, shows extreme volatility. If the real estate market also falters… there’s a strong possibility the drawdown could exceed 20%."

Drawdown— A term used in investing as a measure of volatility, indicating the decline from the peak to the trough of an investment.

"Most institutional investors have rules that exclude assets with a drawdown exceeding 20% from their portfolios."

Most institutions had volatility control provisions. No matter how profitable an asset was, they would automatically withdraw funds if volatility exceeded 20%.

"If we separate real estate and the seafood market faces adverse conditions while the real estate market declines, what do you think will happen? The drawdown will exceed the threshold, triggering a massive withdrawal of funds."

If that happens, all the institutions will pull out simultaneously, causing the stock price to plummet.

Ultimately, Epicura would suffer irreparable damage.

"But the real estate market has been stable recently."

"It is now, but there’s no guarantee it will remain so over the next five years."

"So, you're saying you won’t even consider separation?" freēwēbnovel.com

"The risks are too great. We need to explore alternatives that don’t involve separating real estate."

Separating real estate was absolutely out of the question.

Once that path was taken, it would inevitably lead to ruin, if not now, then eventually.

"Alternatives… Didn’t you already suffer setbacks after attempting brand remodeling?"

The person who spoke was a PM from Capital Research Group, someone who just two years ago had praised Whitmer as a genius executive.

"There is no evidence that remodeling caused the decline in sales. This quarter's poor performance was largely due to temporary adverse factors. A disease spread through shrimp farms, and unfortunately, all three major export countries were affected, causing raw material costs to soar by 50%."

"If that were true, the entire seafood restaurant industry should have suffered. But other brands only experienced single-digit declines. Harbor Lobster, on the other hand…"

…suffered a disastrous 29% plunge.

This was the very reason shareholders were so enraged.

"If only one ship sinks in the same sea, isn’t it more a matter of the captain’s incompetence than the sea itself?"

They were wrong.

Whitmer was a capable leader.

Under his leadership, Epicura’s revenue had risen from 5.2 billion to 8.7 billion.

Just two years ago, Epicura had been hailed as a high-growth, high-dividend industry prospect.

The downturn had only occurred in the past two years, coinciding with the rise of fast-casual dining.

"It seems your judgment has dulled considerably."

They were wrong.

Even amidst these challenges, the new ventures Whitmer had launched were growing at a rapid pace of over 60%.

He was still competent.

The root problem lay with two outdated brands.

But no shareholders acknowledged this.

‘It’s to be expected…’

Even Steve Jobs had been ousted from the company he founded when performance declined.

Shareholders cared only about performance and stock prices, and Epicura had been delivering disastrous results for two consecutive years.

"When the captain’s vision becomes blurred, it’s crucial to face reality and listen to the crew. Stubbornness could sink the ship and everyone on board. We can’t allow that."

This was a threat.

If Whitmer didn’t separate the real estate, they would move to dismiss him.

Capital Research held a 15.42% stake.

As the third-largest shareholder, their warning could not be taken lightly.

"And the decision to sell Harbor Lobster is also questionable. Some captains blame the ship to hide their own mistakes."

No, Harbor Lobster was beyond saving.

The majority of its primary customer base—African Americans—had lost their homes and were unlikely to dine out.

"From the shipowner’s perspective, it’s natural to want to try another captain before scrapping the ship."

It was futile.

No matter who led it, Harbor Lobster was destined to sink.

"Now is the time to seek an honorable exit, don’t you think?"

Whitmer’s eyes gleamed at those final words.

This threat was of a different nature.

An honorable exit— This meant that if he didn’t comply with their demands, they would ensure his dishonor.

It was obvious what that dishonor would entail.

They would appoint a new CEO, scrutinize all of Whitmer’s policies, and find fault with everything.

Publicly, they would blame all of Epicura’s struggles on Whitmer’s incompetence.

His 20 years of achievements would be discredited.

If he became synonymous with incompetence, he would struggle to secure a CEO position at another company.

To have his 20 years of work crumble over just two years of poor performance…

His mind went blank.

At that moment, the words of the young Asian man he had met earlier echoed in his ears.

—It’s all about betting.

—Not only will the shareholders tolerate that loss, but they will also fully support whatever challenges you undertake in the future.

Even now, Whitmer wasn’t entirely convinced by the young man’s proposal.

As a CEO who prioritized safety, he preferred steady and consistent achievements.

That’s why he had been unsure if the “betting” strategy was a foolish gamble.

But now, if he stuck to his original methods…

The outcome was clear— Disgrace.

On the other hand, if he embraced the bet…

—We acquired this new fast-casual brand to ride the wave of this new trend. Epicura will be at the forefront of the changes sweeping the dining industry.

If it succeeded, he would become the Steve Jobs of the culinary world, ushering in a new era.

Whitmer had never been fond of those who recklessly tried to emulate Jobs. But if the alternative was a dishonorable exit, the perspective changed.

Whitmer clenched his teeth and spoke.

"When a captain chooses a seemingly odd course, it’s because they see hidden currents invisible to others."

Whitmer was not incompetent.

He just saw what others couldn’t.

And…

"Right now, new currents are flowing through this sea. We’re exploring ways to ride them. Our temporary stumbles are simply part of the transition."

He was not obsolete yet.

Whitmer was still a capable captain.

He needed to prove it.

"What exactly are these currents?"

He wanted to reveal it immediately, but in front of major shareholders, he had to be cautious.

"I can’t disclose the details yet. But I will provide a full explanation when the time is right."

"How long are we supposed to wait for that?"

The nagging continued.

Whitmer half-listened, subtly pulling out his phone to type a message.

The recipient was Pierce.

<Proceed with the acquisition of the new fast-casual brand immediately.>

It was the moment Ha Si-heon’s strategy was officially adopted.