[George Soros and His Hedge Fund Mafia That Sank Both the UK and Japan]
At the ongoing Senate hearing, George Soros, CEO of Quantum Fund, denied allegations that he and other hedge funds had deliberately manipulated the yen in the $1 trillion-per-day foreign exchange market, stating that such a feat was impossible.
Regarding the regulation of derivatives trading, he argued that only 0.2% of total U.S. bank assets were allocated to such transactions and that hedge funds were already sufficiently regulated under existing banking and securities laws.
Thus, he insisted that introducing new regulations would be entirely unnecessary.
Meanwhile, during a Q&A session with reporters, Soros unexpectedly revealed that he was not the biggest winner from the yen's surge—Eldorado Fund had allegedly made over $1.1 billion in profits.
Early in the morning, Seok-won sat in his Manhattan-based fund office, frowning as he read the article in The Washington Post.
"What the hell? Why is he dragging us into this out of nowhere?"
He had never imagined Soros would make such a statement in front of the press, and the unexpected mention left him baffled.
Just then, a light knock on the door was followed by Landon stepping into the CEO's office.
He was wearing a deep green tie, as if to bring good luck for Netscape's IPO that day.
"Tom and his team are nearby," Landon informed him.
Seok-won glanced at his wristwatch before nodding slightly.
"Looks like they'll be right on time."
Landon naturally took a seat on the left-hand sofa. Spotting the newspaper on the table, he asked,
"Did you see that Soros mentioned us?"
"Of course. I never expected him to bring us up like that."
"Neither did I. I was shocked when I first heard about it."
Landon's voice lowered as he spoke more seriously.
"Do you think it was a slip-up while answering the reporters' questions?"
After a brief moment of thought, Seok-won shook his head.
"Soros may have impulsive tendencies, but he's one of the most cold and calculating people out there. There's no way he'd make such a mistake in a setting like that."
"You mean… he did it on purpose?"
"Exactly."
"But why would he—"
Landon's confused expression suddenly hardened as a thought crossed his mind.
"Could he be trying to shift some of the media's attention onto us?"
"It's a strong possibility."
Seok-won, now crossing one leg over the other, gestured toward the newspaper on the table with his chin.
"Look at The Washington Post. Before this, all the media focus was solely on Soros and Quantum Fund. But now, it's slightly diluted, isn't it?"
"You're right. Some tabloid papers are even publishing so-called 'exclusive reports' on us, though most of them are complete fiction."
Landon nodded in agreement.
Seok-won, noticing how diligently Landon had been tracking media trends, felt a quiet sense of satisfaction.
"He's as cunning as ever," Landon muttered in frustration.
Seok-won merely took a sip of coffee and responded casually.
"That's exactly why he was able to survive on Wall Street, a place like a jungle, and achieve the kind of success that made him a legend."
"True. Surviving, let alone thriving, on Wall Street isn't something just anyone can do."
Every year, countless Ivy League graduates flocked to Wall Street with dreams of success.
However, more than half of these ambitious young professionals quit before even completing their internships, unable to endure the relentless work hours and extreme stress.
Of those who remained, many failed to meet performance expectations or suffered major losses in their trades, forcing them to pack their bags within a few years.
Only a tiny fraction managed to establish themselves as full-fledged traders, earning millions in bonuses and securing their places among the elite.
As Landon considered this, he stole a sidelong glance at Seok-won, who was seated at the head of the table.
Recalling Seok-won's remarkable rise—achieving such extraordinary success within just a few years, to the point where even the legendary George Soros mentioned him—Landon couldn't help but feel a newfound sense of admiration.
Pushing aside these passing thoughts, Landon returned to the conversation at hand.
"Still, doesn't this put us in a difficult position?"
"Now that our fund's name is out in the open, we'll be under much more scrutiny. It'll definitely impose some limitations on our investments."
"Exactly. If I weren't part of this, I'd also be keeping an eye on where a high-performing fund like ours places its bets."
While Landon's expression stiffened slightly at the implications, Seok-won remained unfazed.
"Well, this happened a bit sooner than I expected, but it was bound to happen eventually. No need to overreact—we'll just handle it calmly, as we always do."
"Understood. After making back-to-back jackpot trades and raking in massive profits, it would actually be stranger if our fund remained unknown."
"That's right."
"But what really surprised me was how accurately Soros estimated our profits from the yen attack. How did he even know?"
Even if he wasn't completely precise, the fact that he got close was impressive.
"He's a Wall Street heavyweight. Having access to that level of intelligence is a given."
"Fair point."
Landon nodded in agreement, just as Seok-won's secretary, Daisy, entered the room to announce their guests.
"Mr. Tom Harper and his team have arrived."
"Let them in."
Seok-won, who had been expecting their arrival, nodded immediately.
"Yes, sir," Daisy replied before stepping out.
A moment later, Netscape's founder, Tom Harper, entered the office, accompanied by Vice President Bill Nelson.
"Tom!"
Seok-won stood up with Landon, greeting Tom with a warm handshake.
"Did you get any rest last night?"
"Not at all. The thought of the company going public today kept me up. I was tossing and turning all night, wondering if this was real or just a dream... In the end, I didn't sleep a wink."
Dark circles under his eyes betrayed his nervousness.
It was only natural—after all, he was still under thirty, and in less than two years, he had taken the company he founded to a NASDAQ listing. If he weren't nervous, that would be even more surprising.
"I heard the IPO was a huge success, and people are scrambling to get even a single share. You'll be a billionaire soon—better start thinking about how you're going to spend all that money."
Seok-won gave Tom a reassuring pat on the shoulder, helping to ease his nerves. Landon chuckled and added,
"People from all over the world, not just the U.S., have been clamoring for shares. I heard that if you weren't investing at least $100,000, you wouldn't even be allocated a single share. The demand was so overwhelming that even Goldman Sachs, the underwriter, was taken aback."
Tom's expression eased slightly, as if Seok-won's words had some effect.
"I was worried that if the IPO underperformed, it might somehow hurt you, since you put your trust in me. But I'm really relieved now."
He was referring to the fact that Seok-won had strongly pushed for raising the offering price to $28 per share, with the condition that if there were any unsold shares from the 5 million offered, Eldorado Fund would absorb them all.
"I told you that would never happen. Honestly, if I had known demand would be this high, we should have set the price about $10 higher."
Seok-won's casual joke made Tom smile faintly.
"Yeah, we really should have."
"Haha!"
Landon and Vice President Bill Nelson burst into laughter, further lightening the atmosphere.
Seok-won then shook hands with Bill, whose stern expression remained unchanged, before gesturing toward the sofa with one arm.
"We still have some time. Let's sit down and talk."
The four of them took their seats, with Seok-won in the center, facing his guests.
"Would you like some tea while we wait?"
"No, I'm fine," Tom replied, still looking tense.
"Honestly, I feel like if I eat or drink anything, I might throw up."
"There's nothing to worry about."
"Easy for you to say. This is a NASDAQ listing we're talking about."
Tom, who had stayed up all night, looked at Seok-won with anxious eyes.
"Once the stock starts trading, there won't be a massive sell-off that tanks the price, right?"
Seok-won smiled reassuringly.
"Everyone is saying that the new millennium will be led by an information revolution driven by the internet. And who's paving the way for that revolution?"
Tom immediately answered, realizing where Seok-won was going.
"Netscape. The company we built."
"Exactly."
Leaning back, Seok-won clasped his hands together.
"Nothing is as honest and intuitive as money. The fact that investors rushed to get a piece of the IPO means they are convinced—Netscape, and the internet, are the future."
"The CEO of Intel said something similar in a recent CNBC interview," Landon chimed in. "He predicted that within a few years, over a billion computers would be connected to the internet, generating massive value."
"If people see a stock as a guaranteed jackpot but can't get in because the competition is too fierce, won't that just make them even more desperate?"
"That makes sense."
Tom nodded at Seok-won's question.
"Then what do you think the investors who couldn't get IPO shares will do?"
"Hmm…"
Tom's eyes were filled with uncertainty as he pondered the question.
Seok-won smirked, lifting one corner of his mouth.
"The harder something is to obtain, the more people crave it. I guarantee that once we go public, those investors will be lining up to place buy orders."
"Really? You think so?"
Tom's question carried a mix of hope and uncertainty, but Seok-won answered with unwavering confidence.
"Have I ever spoken empty words? Trust me."
Since the IPO, which had seemed uncertain, turned out to be a huge success—just as Seok-won had predicted—Tom felt nothing but trust in him.
"That's true! You've never been wrong before."
"Once we go public, the stock price will easily double. Just wait and see."
"I really hope so."
Tom smiled hopefully but then suddenly furrowed his brows.
"But I feel bad that you didn't sell a single share in the IPO while I'm the only one cashing out."
The 5 million shares offered in the IPO included newly issued stock, but a significant portion also came from Tom Harper's own holdings.
It was common for early investors to sell part of their shares at this stage to realize some profit.
But Seok-won had chosen to hold onto his entire stake.
'When I know the price is going to multiply several times, selling at this bargain price would be plain stupid.'
He candidly revealed his real thoughts to Tom, as if it were no big deal.
"I just want to sell later at a higher price, so don't worry about it."
However, the other three in the room completely misunderstood his words.
They assumed he was simply giving Tom the chance to realize profits first while also ensuring that the IPO wasn't flooded with too much stock.
As expected, Tom's eyes filled with deep trust, and he grasped Seok-won's hands tightly.
"Meeting you in my most difficult times was the greatest luck of my life!"
"Uh… yeah."
Landon and Vice President Bill Nelson also nodded warmly, as if they had just witnessed a touching moment of loyalty and friendship.
'I feel like they've completely misunderstood me again.'
But sometimes, letting things be was for the best.
Rather than correcting them, Seok-won simply smiled.