Story of a Big Player from Gangnam-Chapter 74 - Hit a Jackpot with Four Major Rivers Project (2) – PART 1
Chapter 74: Hit a Jackpot with Four Major Rivers Project (2) – PART 1
Gun-Ho made his decision.
He transferred his 1.1 billion won from his Kookmin Bank account to his stock account.
“I now see the other player’s cards.”
Gun-Ho started purchasing EE-HWA Construction stocks from 10 AM that day.
“Its stock price was 900 won and now it is over 1,000 won. Only God knows whether the price reached its peak or would increase more. I have six more months until the presidential election. I bet it will keep going up until then.”
Gun-Ho had been sitting in front of the computer monitor and purchasing stocks. Around 3 PM, Gun-Ho verified his stock account to see how many shares he now had and how much their market values were.
“EE-HWA Construction 300 million won, and Samok-Jeong Company 50 million won. Let’s stop right here for today.”
Gun-Ho calculated how much he could earn if he would sell his shares now.
“The stock price hasn’t increased and the selling will incur 1,200,000 won for stock trading fees. So the net result will be -1,200,000 won. It’s not bad.”
Gun-Ho spent 350 million won today in purchasing stocks. If he would sell these stocks, he would have to pay trading fees of 1.2 million won, so it would be a loss for him.
“Hmm, I didn’t have breakfast and lunch today.”
The next day, Gun-Ho skipped his lunch again and logged into the stock trading website and placed offers to buy the same stocks.
“The stock candlestick is showing that the stock price has declined. The loss from the amount I invested yesterday is over 5 million won. I will do ‘averaging down’ to bring down the average cost.”
Gun-Ho invested 400 million won more in stocks that day.
Gun-Ho took a break on the third day.
The stock market became slow.
“I might have to stay invested longer-term with this stock to make money. Did I make a mistake by investing in this stock?”
Gun-Ho believed the price of stocks related to the Four Major Rivers Project would keep fluctuating until the presidential election.
Gun-Ho spent one week to invest all his 1.1 billion won in the stocks: 70% of EE-HWA Construction and 30% of Sammok-Jeong Company.
“Let’s not swing between hopes and fears every day because of its constant price fluctuation. The presidential election will be held in December. I will stay in the library reading books by then!”
Gun-Ho looked himself in the mirror. He seemed to age rapidly during the past week. His eyes were sunken and he could see dark circles under his eyes.
“I skipped meals and ate only lomein for a week… that’s why.”
He spent most of his time in the National Assembly Library of Korea reading books. He usually picked the books related to economics or management: Power Shift, Revolutionary Wealth, Currency Wars, and 7 Habits of the Rich. He also enjoyed the books like How to Bid at Auction, Buy Land Even With Debt, Choice China Made, etc.
“Success or failure.”
Gun-Ho was lost in thought while walking in the square in front of the National Assembly Building in Yeouido Island.
“This is certainly a good hand as long as there is no variable.”
Gun-Ho was dying to know whether his stock’s price dived up or down.
“What if it went up or down? So what? If it went down I would feel really bad, and if it went up, I would desperately want to sell. I have to wait until the presidential election day. Those who bought stock on credit or with a loan would get antsy. I am different. I invested in stock with certainty. I should be calm.”
Gun-Ho considered those people a fool, who invested in stock with a loan or on credit, especially those people who invested everything they had.
“I bought the QM Steel stock for 30 million won last time and sold it at 3 million won. What if that 30 million won was all I had and it was also a loan? I would obviously have become a person with bad credit.”
Gun-Ho imagined himself still working in a factory and borrowing 30 million won to invest in the QM Steel stock and losing most of it. He thought he wouldn’t have wanted to continue his life any longer and he might have committed suicide if that happened.
“Investing in the stock market is a very dangerous activity. That’s why Chairman Lee said I shouldn’t invest in the stock market unless I am certain.”
Gun-Ho thought Chairman Lee had wise eyes.
“He might not have a high academic degree, but his attitude toward the society is extraordinary. His eyes resemble Byung-Chul Lee’s eyes—the founder of Samsung that I saw in a picture.”
When he had invested in the stock market while he was working in a factory, he wanted to check the market every single hour, literally. He couldn’t concentrate on his work at the factory and he once hurt his hand while handling an injection molding machine.
He could feel calm this time because he didn’t have any debt and he invested 1.1 billion won. Even if the stock price dived down to half of its price, he would still have 550 million won in hand.
Gun-Ho was still walking in the square in front of the National Assembly Building when someone called his name behind his back.
“Are you Gun-Ho Goo?”
It was Min-Hyeok Kim, Gun-Ho’s hometown friend; Gun-Ho went to the same elementary school with him and he hung out with him until his junior high even though they didn’t go to the same junior high school.
“Oh, Min-Hyeok. What are you doing here?”
“I saw you at the library earlier, but I was not sure if it was really you. You gained some weight but you didn’t change much. What do you do?”
“Nothing. I’m unemployed. What do you do?”
“I used to work in an office, but now I am studying for an exam to get a level-7 government job.”
“Really? Why did you quit your job?”
“Whew, I couldn’t see my future with that job. I think a government job is the best in this country. I used to work in a quality assurance department in a mid-size company. I had to work till late at night all the time and couldn’t see myself growing there.”
“I see. The level-7 exam is hard to pass, right? Why don’t you try the level-9 exam instead?”
“I am actually preparing for both.”
“You should have started earlier. It’s kind of late to start at our age.”
“I know, but if I can get a government job then it’s still good. The problem is that it’s not easy to pass the exam. It’s really stressful. Haha.”
“You will be fine. You went to Kookmin University, didn’t you? I think you will pass.”
“Thank you for saying that. Why do you stay unemployed? I thought I heard you were working somewhere.”
“I had a business in China and came back to Korea not long ago. I am still thinking about what I want to do.”
“Oh, I see. Give me your number. I still live in Bucheon. Here is my number.”
“Thank you. Call me once you pass the exam!”
Gun-Ho gazed at Min-Hyeok’s back blankly.
“I hope he can pass the exam. If I remember correctly, his father is a bus driver. I guess he is trying so hard to get out of the inherited poverty. Going for the government job exam is maybe the right choice for him. People say that if you pass the level-9 government job exam you can be proud of yourself, and if you pass the level-7, then your family will be proud of you. Haha.”
Gun-Ho let out a sigh and smiled bitterly.
Gun-Ho continued walking in the square.
“What if MB is not elected?”
Gun-Ho shook his head thinking he would be elected for sure.
“What if MB dies of an accident? I read from some book that when one of our former presidents, Syngman Rhee was a presidential candidate, the two opposing presidential candidates—Dr. Byeong-Wook Jo and Dr. Ik-Hee Shin died unexpectedly while running for president.”
Gun-Ho found himself staggering at the thought of the possibility of MB’s sudden death.
“I need more training in controlling my mind. It has been only a week since I bought the stocks, and I am already feeling anxious.”
Gun-Ho couldn’t concentrate on books at the library because he was distracted by all sorts of what-if thoughts.
“I can’t go on like this. Let’s go on a trip abroad. I will go to Japan.”
