8:30 p.m., September 11, 2001. Manhattan, New York.
[My fellow citizens, today our way of life and our freedom have been attacked by a series of deliberate and deadly terrorist acts.
The victims were secretaries and businessmen and women on airplanes or in their offices, members of our military and federal workers, parents, friends, and neighbors.
Thousands of lives were suddenly ended by these cruel and cowardly acts of terror…
Terrorism has shaken the foundations of the tallest buildings in America, but it cannot shake the foundation of America itself.
Today, our nation makes a solemn commitment to justice and peace. Americans have faced down our enemies before, and we will do so again.
We will not forget this day. We will defend freedom, goodness, and justice.]
President George W. Bush sat stiffly at the desk in the White House Oval Office, delivering his address to the nation live on television. His face was rigid, and his voice brimmed with anger.
When the speech ended, Seok-won, seated in the central chair, lifted the remote control and turned off the television.
On the sofas to either side sat Landon, Andrew, and Dan Baradan, all wearing grave expressions.
Leaning back in his seat, Seok-won spoke in a low, heavy voice.
"He looks absolutely furious."
Landon, seated to his right, responded in a solemn tone.
"Given that coordinated suicide plane attacks were carried out on U.S. soil, it's only natural."
Across from them, Andrew adjusted his gold-rimmed glasses and nodded.
"For the first time in history, all air traffic across the United States has been grounded. An emergency alert has been issued to all armed forces, including overseas deployments. I've also heard that several embassies in the Middle East, including Iraq, have been closed."
"Just a moment ago, breaking news reported that two aircraft carriers stationed at the Norfolk Naval Base in Virginia have departed on an emergency deployment and are heading toward the waters off Washington and New York."
In addition to that, subway operations in both New York and Washington were completely suspended following the terrorist attacks, and all bridges and tunnels were sealed off, effectively placing the cities under lockdown.
At Eldorado Fund, the employees were unable to leave the office. With the entire city thrown into chaos by the attacks and no way to get out of Manhattan, they were completely stuck.
Landon loosened his tie and let out a suffocated breath.
"This is practically a state of war."
Seok-won crossed one leg over the other and looked around at the three of them.
"It's not like a state of war. We're already at war."
"What? What do you mean by that?"
Landon asked in shock, and the other two stared at him with widened eyes.
"The World Trade Center and the Pentagon were attacked, and the White House nearly was as well. You heard the president say that the number of casualties is already in the thousands."
"..."
"Over forty thousand people worked in the Twin Towers alone. As rescue and recovery efforts continue, the death toll will only keep rising. The passengers on the hijacked planes, the firefighters who ran in knowing they might not come out alive, and now the victims at the Pentagon as well. After shedding this much blood, there's no way the United States will stay still."
Andrew let out a low breath.
"They're going to want revenge."
"Exactly. Just like Pearl Harbor during World War II, the entire world is about to feel America's wrath."
At Seok-won's words, the air in the room grew heavy.
At the same time, all three men swallowed hard without realizing it.
The shock of this event was enormous, and the rage of the American people would be just as overwhelming. Whoever became the target of that fury would face merciless retaliation.
And to avoid drawing the ire of an America blinded by vengeance, countries around the world would have no choice but to keep their heads down for the time being.
That kind of fallout would inevitably shrink the global economy.
And when that happened, the stock markets would suffer.
As their expressions darkened, Landon suddenly seemed to realize something and blurted out,
"It's tragic that this happened, but if the Bush administration launches a large-scale retaliation, the defense stocks we bought are going to skyrocket."
Only then did the other two remember that, on Seok-won's orders, they had heavily accumulated defense stocks before the attack. Their eyes widened in realization.
"That's true."
"I can't believe it turned out like this."
While everyone else was celebrating the incredible timing, Seok-won alone wore a bitter expression.
"I placed the bet because tensions between Israel and Palestine were escalating. I guess I just got lucky."
Sensing his somber mood, Landon spoke up beside him, trying to lighten the atmosphere.
"Luck is part of skill too, isn't it?"
"Exactly!" Dan chimed in enthusiastically, while Andrew, as always, analyzed the situation with a calm and rational tone.
"Defense stocks aside, if the market crashes due to this terrorist attack, we stand to make substantial profits from the short positions we've taken."
For a brief moment, the thought crossed Andrew's mind that maybe Seok-won had anticipated this attack and positioned himself in advance by shorting the New York and Nikkei markets and buying defense stocks.
Otherwise, things couldn't have aligned this perfectly.
But he quickly shook the thought away.
"No matter how exceptional the boss's insight and intelligence may be, there's no way he could've known about a terrorist attack that even the world's top intelligence agencies failed to detect."
The only possible explanation would be some connection to the terrorists themselves, and that was practically impossible.
"So it must really just be luck."
Andrew looked at Seok-won with quiet admiration, as if he were someone blessed by fate itself.
To remain composed while the world was spiraling into panic over such a horrific attack was impressive in its own right.
"Asian markets will be opening soon. How do things look?" Seok-won asked.
Dan leaned forward and replied immediately.
"Japan has announced it will delay the market opening by thirty minutes due to the impact of the attack."
"They're trying to soften the shock however they can, worried about a massive sell-off."
"That's right. But judging by the heavy selling already happening in the futures market, a crash seems unavoidable."
Seok-won gave a small nod in agreement.
"Hong Kong is also expected to plunge sharply. There's a strong chance the Hang Seng Index will fall below the 10,000 mark."
"If that happens, it'll be the first time in two years," Andrew added.
"That's right."
Andrew continued.
"Europe, which was hit first, is also expected to continue its steep decline."
"With the lingering effects of the dot-com bubble still unresolved and fears of an economic slowdown already present, this kind of event makes it unlikely that the stock markets will recover anytime soon."
"Yes. The psychological shock is severe, and more importantly, the damage to economic fundamentals means this terror attack will likely accelerate an economic downturn in the United States."
Dan folded his thick arms across his chest.
"If it were me, I wouldn't know how things were going to unfold either, so I'd move my money out of risky assets and into something safer. The massive sell-off happening across the stock market is proof of that."
At that moment, Landon's eyes lit up as he offered his opinion.
"In that case, prices for safe-haven assets like government bonds and gold will rise. Shouldn't we move our money there as well?"
It seemed like a reasonable idea, but Seok-won shook his head.
"If we already had positions, that'd be one thing. But jumping in after prices have already started rising won't generate much profit."
"I see."
As Landon nodded in agreement, Seok-won pulled a folded piece of paper from his inner pocket and placed it on the table.
"What's this?"
"Take a look."
Under the curious gazes of the other two, Landon picked up the paper.
When he saw the densely written list of companies from the United States, Japan, and other countries, along with numbers written beside each name, his eyes widened as he looked back up.
"D-Don't tell me…?"
"These are the stocks and quantities we'll buy once I decide the bottom is in."
Everyone froze in disbelief. With global markets drowning in fear and a recession looming, the idea of buying stocks now was almost unthinkable.
"You're saying we should buy now?"
Andrew asked in disbelief, but Seok-won simply nodded calmly.
"Yes."
Andrew's brow furrowed slightly.
"We don't know how deep the crash will go. Isn't it too risky to buy right now?"
"That's right. The drop is severe, but wouldn't it be better to wait and see how things unfold first?"
Landon shared the same concern.
Dan didn't speak, but the worry was clearly written on his face.
Expecting this reaction, Seok-won remained calm instead of showing any irritation.
"As I said earlier, the market is flooded with pessimism right now. With the world still reeling from the dot-com bubble and this terrorist attack added on top, many believe the global economy is heading into a deeper slump."
The three of them were about to suggest postponing the plan when Seok-won continued.
"Of course, the Federal Reserve and the U.S. government are fully aware of this situation."
"...!"
Andrew was the first to grasp the meaning behind his words, his eyebrows lifting slightly.
"Are you saying the U.S. government and the Federal Reserve will roll out stimulus measures?"
"If a recession hits on top of a terrorist attack this horrific, that would be a disaster. Of course they'll step in."
Seok-won spoke with firm conviction as he looked at the three men, who were now fully focused on him.
"And considering this is the worst terrorist attack in history, the response will be faster and stronger than ever."
"It really is a national emergency," one of them muttered.
"And with the midterm elections coming up next year, the White House won't have much choice but to act aggressively."
"In this atmosphere, the opposition won't have any grounds to object either. There's a strong chance we'll see a massive stimulus package."
With each comment, the mood in the room shifted in a more optimistic direction.
"If that happens, the crash won't last long. The market will hit bottom and rebound quickly. That's when we scoop up high-quality stocks at bargain prices."
"I see. You're really thinking several moves ahead while everyone else is panicking. That's why you're the boss."
Landon slapped his knee in admiration.
Andrew and Dan also looked at him with clear amazement, as if wondering how he could think this far ahead in a situation like this.
"Once we judge that prices have fallen enough, prepare to liquidate our current positions and switch to long positions immediately."
"Yes."
"Understood."
Just as he was about to wrap up the meeting, Seok-won suddenly remembered something and turned to Landon.
"And one more thing. I'm planning to donate one hundred million dollars of my own money to support the victims of this attack. Check with the relevant departments and see how best to proceed."
"One hundred million dollars? That's a huge amount," Landon said in shock.
"So many people lost their lives right here in Manhattan. I can't just stand by and do nothing. And even though it wasn't intentional, we've made significant profits from the market crash. Giving some of it back to society is the right thing to do."
"Ah, I see. That would also help prevent unnecessary backlash later on."
Given how sensitive the situation was, it was better to build even a small amount of goodwill.
"I think that's a good idea as well."
Andrew seemed to agree and nodded without objection.
"Also, check whether any of our fund employees have family members or relatives who were affected by this incident. If so, provide as much support as possible."
"I'll take care of it."
No matter how wealthy Seok-won was, one hundred million dollars was still an enormous sum.
But considering how violently the global stock markets were shaking, and how much profit he was likely to make going forward, it was an amount he could more than afford.