Chapter 77. A Brother Like No Other (2)

"Try being honest for once. I heard from someone that if things go well, you’d snatch the business results, and if they don’t, you’d blame it on me and get me kicked out of the group."

[What are you talking about? Who told you what?]

He really seems to have no idea.

Is he really acting, or not? At this point, it doesn’t really matter whether it’s true or not. In any case, things went wrong, and he avoided responsibility.

"Exactly. Who did I hear from, and what did they say?"

At these words, Huh Min-hong realized that someone had given his brother information beforehand.

[Why are you treating me like this because of some nonsense you heard?]

"If it wasn't for that nonsense, things would have been different, wouldn't they?"

[Did you deliberately make me suffer because of that?]

"It's not like that. I was really busy."

Huh Min-hong warned him.

[I won’t let this go.]

"Try managing the stock prices better. From the looks of it, it seems like we’ll hit the lower limit again tomorrow."

[...]

Huh Min-hong didn’t respond and hung up the phone.

They weren’t originally close brothers, but this incident had crossed a line that couldn’t be undone. Since it was bound to happen anyway, Huh Min-hong decided to think positively.

What would have happened if he hadn’t gotten the information first?

'I would have been finished.'

Just thinking about it made his spine chill.

He really had come back from the brink of death.

He called Chairman Yoo Jae-ho.

The chairman himself answered, not his secretary. Huh Min-hong spoke politely.

"Hello, Chairman. It’s Huh Min-hong."

[I saw the news. You managed to get out of the crisis well.]

"It’s thanks to your help. I’m truly grateful."

[Ha ha! I’m glad you think so. But shouldn’t you be thanking someone else more than me?]

At these words, Huh Min-hong recalled the man who had come to him. At first, he thought the man was arrogant, but if it weren’t for him, what would have happened?

"I understand."

* * *

Thomas Motors CEO Brad Button.

Despite the demands from the media and shareholders, he remained silent until the SEC and the prosecution announced they would investigate. Then, he had no choice but to speak.

"This is a conspiracy by short sellers trying to profit from the stock price drop! While countless individual investors are shedding tears, they are making huge profits. The SEC should investigate the hedge funds that engage in short selling, not Thomas Motors."

In response to the demand for an explanation about the new car and the driving video, he said:

"That was a model we released to help with understanding. I only said it was a new car, not that it was 100% complete. I didn’t expect such a misunderstanding at the time. Also, in the video, I only said the car was 'in motion' and never said it was 'driven by the powertrain.' I didn’t think anyone would misunderstand it as a driving video. I believe the media is largely to blame for this. The media that wrote articles without proper verification should be held responsible."

Investors were speechless at his behavior of creating misunderstandings and then blaming the media when caught.

He continued with another excuse.

"Thomas Motors is not just a car company but a comprehensive hydrogen energy company. The release of hydrogen cars is just one part of our overall business. We have secured a 20% stake in the hydrogen production plant being built in Arizona and plan to establish a hydrogen infrastructure. We are also continuously developing and preparing to launch hydrogen cars. Don’t be swayed by the smear campaigns of the media and financial firms!"

However, the criticism did not subside, and eventually, Brad Button announced his resignation as CEO.

This had some effect, and when the news of his resignation spread, the stock, which had fallen to $5.70, rebounded to $10 like a wildfire.

* * *

Since it wasn’t going to be delisted, we decided to liquidate our position without hesitation when the stock fell to $6.

If you short sell, you have to buy back the same number of shares you sold to repay.

Fortunately, there was an abundance of selling volume, so it wasn’t difficult to gather the fallen stocks and repay them.

Continu Capital invested $127 million directly. The profit rate, excluding fees and taxes, from the put options and short selling combined was 3630%.

But that’s not all.

The $100 million invested by GTiger PE was all short sold through CFDs, and we made $864 million.

The profits were split according to the contract, 50-50.

In the end, the total profit from this investment was $504.2 million.

"..."

Everyone, including David, looked speechless.

I was also shocked.

It’s truly an incredible profit rate. How many investors can make this much profit from short selling?

Is making money really this easy?

I told David:

"Send a report to GTiger PE."

"Understood."

After returning the principal and profits to GTiger PE, I received a call from Chairman Yoo Jae-ho.

[You succeeded.]

"It’s all thanks to your help, Chairman."

Introducing me to Huh Min-hong is one thing, but I still find it amazing that he trusted me enough to invest $100 million.

Well, at least we both made money, so it worked out.

[When you come to Korea, let’s have a meal. I’ll treat you.]

"I’ll treat you, but can I ask you for a favor as I mentioned before?"

[What kind of favor?]

"It’s not a difficult task and won’t cause any loss."

[Let me hear it and decide.]

"Here’s the thing..."

After hearing my request, Chairman Yoo Jae-ho immediately responded.

[It’s not a difficult request. But can I ask why?]

"It’s something someone really needs."

Chairman Yoo Jae-ho readily agreed.

[Understood.]

* * *

We all celebrated at the hotel.

I looked at David and the others and said:

"You all really worked hard. I’ve deposited the agreed amount, so please check it."

At my words, the three of them exchanged glances. They seemed to have something to say.

Edward Benson spoke on behalf of the group.

"I have something to say."

"What is it?"

"I want to continue working at Continu Capital."

"All three of you?"

"Yes."

I smiled and asked:

"We’re a new company without an office yet. Is that okay with you?"

"It doesn’t matter. It’s an honor to work with the two of you."

David and I looked at each other and nodded.

"David recommended you. I thought it would be good to continue working together, so I’m glad you suggested it first."

I handed them the prepared documents.

"What is it?"

"It’s an employment contract. Please read it."

The three of them read the documents and signed the employment contracts without much hesitation.

"Let’s go for a drink to celebrate our new partnership."

We were having a great time when the phone rang.

The caller said bluntly:

"It’s me."

"What’s up?"

"Why? Can’t I call?"

"I thought you wouldn’t call since everything is done."

[Why is it like this? I’m not that heartless.]

"Ha!"

[Are you mocking me?]

"No, I just heard a joke."

[Did you make money from this?]

"Somewhat."

He would faint if he knew how much.

"I saw the news. They praised you for your bold and quick decision that saved the company."

[Are you teasing me?]

"Not at all. It’s true that you did well."

[Che! Thanks for saving me, then.]

"Hey! Did you just thank me?"

[What? What? Are you unhappy?]

He seemed very embarrassed.

Even without his help, the stock would have plummeted. But if Hwaan Energy hadn’t turned its back, the damage would have been limited to a 50% drop.

The 90% drop was largely due to his help.

[When are you coming back to Korea?]

"I’m not sure. I still have some things to do here. What about you?"

[I have to go back today. My brother will throw a fit when I get back.]

By now, the entire Hwaan Group must be in chaos, debating how to proceed with future hydrogen energy investments.

Since I received his help, I decided to give him an important tip.

"Can I give you some advice?"

[What?]

"Have you heard that crisis is an opportunity?"

[Why?]

"Hydrogen cars will soon take off."

[...What?]

Investors didn’t invest in Thomas Motors because they were foolish.

Hydrogen cars have a clear advantage over electric cars in the commercial vehicle sector. It’s just a matter of time before hydrogen energy becomes a leading eco-friendly energy source.

In the first cycle, Hwaan Group sold its hydrogen energy division to the Chinese side during a restructuring of the entire energy business.

Since Huh Min-hong started the business, it could be seen as a way to cover his tracks.

What happened after the Chinese company acquired it? Hydrogen cars eventually took a significant place, and China became the leader in hydrogen energy.

But this time, with Huh Min-hong surviving, the situation might be different.

Perhaps Korea could take the lead in the future hydrogen economy.

"The failure of Thomas Motors is not the failure of hydrogen cars but of Thomas Motors itself. The shift to eco-friendly cars is a global trend. The pace may vary, but the trend itself will not change."

The U.S. has the most advanced technology in electric vehicles, and Europe has announced it will stop selling internal combustion engine vehicles within 10 years. China produces and sells the most electric vehicles in the world.

While electric vehicles are currently the mainstream, hydrogen cars have clear advantages and will take a significant place in the commercial vehicle sector.

After the Thomas Motors scandal, the stock prices of hydrogen car and hydrogen energy-related companies plummeted.

Some people sold everything, thinking hydrogen cars were over, while others saw a new opportunity and jumped in.

"Just keep it in mind."

If I’ve said enough, he should understand. If not, there’s nothing I can do.

He listened to me without saying anything for a while, then spoke:

[Okay. I’ll keep it in mind.]

"Alright, I’ll hang up now."

Just as I was about to end the call, he said:

[When you come to Korea, call my brother. I can buy you a drink.]

A random word came out.

"Your brother?"

Huh Min-hong said matter-of-factly:

[I’m older, you know.]

Shouldn’t we consider the age before the regression?

Well, regardless of that...

"I don’t just call anyone by their first name."

[...Anyone?]

There was a moment of silence.

Did the call drop?

"Hello?"

Huh Min-hong shouted:

[Ah, forget it! If you don’t want to, fine!]

Then he hung up.

What’s this? Is he upset?

I smiled and put down my phone.

In the first cycle, Huh Min-hong was held responsible for the investment failure and was kicked out of the group. This allowed Huh Min-hong to inherit Hwaan Group without much conflict.

But this time, Huh Min-hong listened to me and avoided the conflict, while Huh Min-hong took the hit.

What changes will this bring to the succession structure of Hwaan Group?

"..."

Well, that’s not my concern.

I have enough to worry about with my own affairs.