Friends 2

Arriving at the pension felt no different from being in Seoul. It wasn't a gathering of four men to engage in activities, nor was it a party centered around socializing over drinks. The main pastime was sitting down, enjoying street-bought squids, watching TV, and conversing, sharing each other's concerns, joys, and thoughts, often prompted by what appeared on television.

It resembled casual chatter at a tavern, yet for Lee Sang-hoon and his friends, the simple act of escaping the bustling city to unwind in a peaceful setting brought them profound joy. As the night grew later, they found themselves either grumbling about celebrities on TV or making a ruckus during movie screenings.

"Hey, about IC Ucalls, the company I mentioned in the car earlier. Does that mean it's on the rise?"

"Why? Are you intrigued?"

In response to Kim Hee-yeol's curiosity, Lim Gyu-chan inquired without tearing his gaze away from the TV. Kim Hee-yeol, with a piece of squid in his mouth, replied to Lim Gyu-chan's question.

"Hmm. I'm curious."

Im Gyu-chan, Lee Jun-hwan, and Lee Sang-hoon all turned to look at Kim Hee-yeol, taken aback by his unexpected response. When a person not known for financial ventures expressed interest in stocks, it sparked an odd thought.

"Hey, don't do it. Why are you so fascinated by it? Sang-hoon tried to cut ties with it. You weren't looking to make money. Hey, Sang Hoon, you're not going to go for it, right? No, you won't, right?"

Lee Sang-hoon did not respond to Lee Jun-hwan's words. Observing this, Kim Hee-yeol spoke up to address Lee Jun-hwan.

"Sang-hoon is endeavoring to continue, too. Why are you singling me out? I'll pursue it. If things continue like this, life might feel purposeless. Don't I need to take some action? Am I supposed to excel academically like Gyuchan? Or does Junhwan aspire to amass wealth like you? The spirit of our twenties is to strive for the most, but it feels like there are only a few years left. Before that vigor wanes, I have to lay some groundwork. I can't just drift through my 30s and 40s aimlessly. There should be a plan in place for my life, shouldn't there?"

"Sang Hoon, please say something. Do you really intend to continue with stock trading? I haven't encountered anyone in my circle who profited significantly from direct stock investments. Sure, there were individuals who dabbled in stocks a couple of times, but eventually, they ended up losing all the money they accumulated over time. It seems like stocks don't generate wealth; they simply hold onto it for a while. It's money that lands in my pocket but I can't utilize, just kept dormant for a time. Please don't proceed. Huh? Just don't."

As a friend, Lee Jun-hwan genuinely worried and opposed, but Kim Hee-yeol seemed determined not to heed his advice. Kim Hee-yeol's stubbornness was a known trait among their friends, but this time it seemed particularly exacerbated.

"Do you want to risk the house regardless, should I lose my own? Or perhaps you have an abundance of money and seek to squander it? Eventually, it boils down to carelessly discarding money from your pockets. If you throw away this money, there's no turning back."

"Alright. Are you forcefully set on this course? Junhwan, don't fret too much. Heeyeol will manage on his own. Heeyeol is turning thirty the day after tomorrow. The era of careless flings has long passed."

"Aside from everyone else, Heeyeol is quite resolute in his ways. If he loses money, he won't look for help. He's the sort of person who would sell off the family's assets. And where's the money? I'd be relieved if he doesn't end up borrowing from somewhere."

All the others agreed with Lee Jun-hwan's statements, including Kim Hee-yeol who nodded in agreement. Nevertheless, Kim Hee-yeol remained resolute in his own convictions.

"I'll handle my part, so go ahead and discuss IC or UC. I will proceed even if I need to listen and judge it for myself."

"I don't know much. All I've heard is that there's a buzz in the bond market, and stock experts are showing keen interest. It's reportedly multiplied about fivefold since the beginning of the year, but it seems like it's not over yet, which is why people are intrigued. Is it Luho? Alright. Sanghoon understands well. How many times did Luho surge from the ground?"

Lee Sang-hoon simply took in Lee Jun-hwan's narrative, aiming to discern the substance and details of the information relayed. When Lee Jun-hwan posed a question, he casually shared what he knew.

"50 times. If you scale it up, it's about 50 times, and for a modest estimation, it's safe to say it's around 20 times."

"Alright. I'm not well-versed in stocks, but if it surges, how many times is it rising? Even in the case of IC U-Calls, it appears to be on the rise, and it doesn't seem improbable to anticipate a tenfold rise if you invest now. But I think this is merely speculation. If there were something in the world that made money so easily, who would labor diligently?"

"Alright?"

Despite not protesting against stocks, even Lim Gyu-chan, who wasn't particularly inclined, found the idea of a tenfold surge intriguing. Lee Jun-hwan vehemently opposed the notion, but upon seeing his friends express interest, he sighed as though conceding.

"Phew... I'm uncertain of this era as well. The reason it's garnering attention isn't due to the people in the bond market, but it stems from them observing foreign stock companies integrating with Korean securities firms. So, it's not like a typical market activity akin to Luho, but it involves a genuinely promising company. Yet, I can't say for sure."

"What company is it?"

"I'm not sure. But there are a couple of unknown companies, right? Seems like I stumbled upon something odd."

"Alright. That's possible."

Everyone nodded, convinced by Lim Gyu-chan's words. As Lim Gyu-chan mentioned, Lee Sang-hoon wasn't aware of the existence of so many companies until he began investing in stocks. Even those referred to as subsidiaries of a major company were presumed to have the parent company's name as a prefix. For instance, Taeeun Innotek, which Lee Sang-hoon invested in, was known to have the prefix "Tae-eun" attached. However, there were numerous companies that didn't follow this convention, and he discovered that several of these companies were quite substantial.

"Alright. Should we consider purchasing that one? Sanghoon, what do you think? Are you in? Let's do it together."

"Not really... I'm not that enthused."

"Wouldn't it be a clear sign if foreign securities companies merge with Korean securities firms? Is there anything more certain than that?"

"Even so, I can't seem to muster much interest. I do intend to continue with stock trading, but if I observe from the sidelines, contemplate removing the gin to recuperate, and then delve into studying and investing. Isn't investing without understanding akin to a lottery? Instead of relying on someone else's recommendation, I'd rather undertake the effort to seek out and invest in promising stocks."

Upon hearing Lee Sang-hoon's sentiments, Kim Hee-yeol reflected on his thoughts and nodded.

"I think you're right. It does seem a bit risky to invest in UC or IC without adequate knowledge. I should study and then invest."

"Alright. I've thought it over. I'll heed Junhwan's words just for the sake of it. Whenever I hear such stories and hastily invest, I end up regretting it deeply. Like Sanghoon said, I will study and invest."

Lim Gyu-chan echoed Lee Sang-hoon's sentiments beside him. Lee Jun-hwan looked at the rest of the three and appeared displeased. He wanted to convey a pessimistic view of stocks to his friends, but it seemed difficult for him to do so, despite having many things to express.

The four spent time watching TV and continuing their discussions even into the night.

Following a short yet enjoyable 3-day, 2-night trip, Lee Sang-hoon found himself reconsidering his stance on stocks. He headed to the library, making a fresh commitment through this trip not to impulsively delve into investment.

While his primary intention was to peruse a book titled "Value Investing Strategies," his visit to the library had a more overarching purpose of studying stocks.

He decided not to touch the funds in his account until he had gained sufficient knowledge. Despite earning a profit of 500,000 won through Luho, he believed it was purely due to chance. He thought that while 30% of his success was due to principles, 70% was sustained by luck. The sky was once worth 9,800 won, but now it seemed dark to contemplate what might have happened.

During his trip, Luho's value continued to decline and was now playing at the 6,000 won range. After briefly rebounding to 9,940 won, it resumed its downward trend.

Upon reaching the library, he settled into a seat with several books he had earmarked. After checking out books that would be beneficial through online research, he had already chosen the best ones. Though he preferred to purchase the books himself, he opted to visit the library to peruse "Value Investment Strategy," which was available there.

When he returned, he first opened the chosen book. Despite browsing through "Value Investment Strategy" on several occasions, the content remained the same, with no alterations from the Luho story. However, the presence of 'maybe' thoughts in the book spurred a continual curiosity. Bringing the book "Value Investment Strategy" had now become a routine confirmation during his library visits. The first book Lee Sang-hoon had in hand was the new one he had chosen.

The book titled "Technical Theory: Wave" delved into the interpretation of chart movement as a wave. It was said to be quite elusive in Korea, however, luck favored Lee Sang-hoon as he found a copy in the library he visited.

The central focus of the book was on identifying underlying principles within chart movements, likening them to the effects of waves. It covered a spectrum of topics, from the classical wave theory of the Alliot wave to analyses using Fibonacci sequences and once-popular pivot techniques. Almost every aspect of wave theory was encompassed in its content, including explanations of fluctuations by integrating the hype cycle, as announced by the advisory firm Gartner, into the stock market.

Lee Sang-hoon then turned his attention to another book, "Is Stock Investment or Speculation?" It served as a primer on basic analysis with the aim of quantifying a company's value and calculating fair stock prices. Filled with mathematical content, it evoked a sense of engaging with math, rather than the drudgery of mathematics, for Lee Sang-hoon, who had found college math tiresome (despite not studying much then).

As he perused the book, he began writing down the formulas directly into his notebook. Back in school, this method didn't appeal to him, but now he found it enjoyable.

"If classes were this engaging back then, I might have excelled in all four years," he mused, relaxing his grip on the pencil and releasing a sigh in the library chair.

Then, he cast his gaze upon the book "Value Investment Strategy." Normally, he would have eagerly delved into its contents as soon as he opened it, but the constant priority shift led him back to the same pages repeatedly.

"I still need to check."

After multiple confirmations, Lee Sang-hoon realized that the beginning part had become irrelevant and swiftly flipped to the section where the text was located.

"IC U-calls…"

"What?"

The first part had changed; it should have started with Luho, but it led with IC. Lee Sang-hoon took a deep breath. It was unclear how long it had been altered or for what reason. Nevertheless, it was evident that the contents had changed, so he sought to confirm it with his own eyes.

"IC U-calls…"

"What? This has really changed."

Initially, he thought it might have been an oversight due to a hasty perusal, but upon rechecking, the truth was apparent. Lee Sang-hoon hurriedly bowed his head, inspecting the book's contents.