I Became the Youngest Daughter of a Chaebol Family-Chapter 44: The End of the 80s (4)

The first CDS sale was a small-scale deal, worth about 10 billion won.

I know, calling 10 billion won “small” sounds a bit off, but major funds deal in 10 billion dollars, not won. So yeah, by those standards, it was tiny.

And since we only got a 500 million won premium out of that first CDS transaction, it felt even smaller. Honestly, it didn’t do much for Daehwa Investment Bank.

The real payoff came after.

[New Financial Product Emerges in East Asian Markets: What is a Credit Default Swap?]

[Nomura Securities Signs Additional CDS Deal with Daehwa Investment Bank...]

[Eastern Europe’s Deepening Crisis: Experts Warn of Rising Sovereign Default Risks]

[JP Morgan Sells $100 Million Worth of Credit Default Swaps...]

[ISDA Argues CDS Should Be Subject to Review: Growing Consensus for Standardized Contracts...]

The finance world bit hard on the bait.

“Don’t you regret it? I mean, you invented the product, didn’t you?”

Lee Si-hyun, back from vacation and glowing with health and beauty, made me a cup of coffee while flipping through the paper.

“Oh? You can read English now?”

“...Please, don’t underestimate me like that. I’ve been reading the same papers as you for, what, five years now?”

Yeah, but still. No matter how much I trust your little gang, how could you just sign off as guarantor like that? I nearly had a heart attack when I dug into it.

Anyway, those self-proclaimed “siblings” who tried to screw over my secretary got “handled” and are now working under Seo Joo-eun. They were a bit rebellious, but even the wildest dogs know when to heel.

“I wasn’t trying to sell CDS for the money—I wanted it out there in the market. Financial techniques are always like that.”

After all, I didn’t invent it either. I just took it from JP Morgan. So if they took it back, it’s not like I’d be bitter.

As expected from the legendary investment bank that originally created CDS, JP Morgan was the first to start trading in credit after Alpha Fund. They recognized the true value of CDS.

“This one’s FTD, that’s TRS... Damn, they’re fast.”

I barely dropped the idea that “credit” could be traded like anything else, and now the market was exploding with derivatives based on the CDS portfolio I built.

That’s Wall Street for you.

Fall behind for even a second, and you get eaten alive... The beating heart of global finance.

That’s why they’re geniuses—at both innovation and imitation.

“...I don’t get most of what you’re saying, but I can tell it’s impressive. Still, wasn’t this all part of your plan anyway?”

“Well, yeah.”

CDS caught on this fast partly because of the exploding demand due to Eastern Europe’s mess, but also because I oh-so-generously released my entire portfolio full of insider knowledge.

Normally, something like that would be top-secret, but I made it look like a rookie company blunder and just dumped it into the market. By now, the Wall Street fund managers are probably laughing at me, popping champagne.

“Phew... A lot changed while I was gone. At first, that month-long vacation was nice, but after a while, I got bored out of my mind.”

Si-hyun grumbled as she dutifully tended to me. I stretched out, lounging lazily as she massaged my shoulders.

“Ah, this is the life. I missed this.”

“You managed fine without me for a whole month, huh? You’ve grown up, Miss.”

Si-hyun gave me a sheepish look, and I waved her off like it was no big deal.

“There are other secretaries, housekeepers too. Besides, I used to handle everything on my own back in the day.”

-Rustle.

I tossed the paper aside and hopped down from the chair with a light bounce.

“Yup.”

-Thud.

A small, dull sound followed as the coffee cup wobbled.

“Hey, Si-hyun, did you take any photos on your trip?”

I’d told her to snap some pics of whatever she was doing each day. Otherwise, knowing her, she’d spend half the vacation lifting weights.

“Ah, yes... I got them developed today. You’re seriously obsessed, you know that? And by the way, I charged the film costs to you.”

“Yeah, yeah, hand them over.”

She rummaged through her bag and pulled out a stack of photos in a plastic sleeve, handing them to me.

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“Oh, surprise, half of these are the ocean.”

Ehehe.

I mean, this part I had to see.

Si-hyun, dressed in a tank top and dolphin shorts, looked at me like I was some kind of idiot.

“What are you staring at?”

“...Nothing. Just, whatever you were hoping for, it’s not in there.”

I flipped through the photos, realized she was right, and drooped my arms.

“Eh.”

Damn it, for real? They’re all one-piece swimsuits.

Not bad, but still...

“Come on, we went shopping at my department store together, didn’t we? Why didn’t you wear the bikini?”

That was the first time I understood why women love shopping. It all made sense.

Calling the staff to bring out the clothes, no aching feet, and since they were department store employees, they actually knew their fashion—and could compliment at just the right level.

But Si-hyun, blushing furiously, shook her head hard.

“H-how could I wear something so indecent? I don’t get you sometimes. You always liked seeing others undressed, but you were super modest about yourself, right? And now you’re all into those tiny scraps of fabric?”

A strange smile spread across my lips.

“Well... I used to be like that. But now? I’m over it.”

I didn’t like women’s clothes at first either, but... after getting used to the embarrassment, all that was left was pure narcissism.

And I ended up buying a bunch of outfits. It was summer, after all, so there were swimsuits too.

“Still... People stare, and you’ve got siblings too, you know? Wearing a bikini just feels wrong.”

Hmm, I guess.

It’s still July, right?

The peak of the Eastern European revolutions won’t hit until November, so I’ve got plenty of time. I can work while on vacation anyway.

Alright, I’ve decided.

“I’ve got a break too, so let’s go abroad.”

“...What?”

“I needed to head to the US for Alpha Fund stuff anyway. Since it’s my first time going, I’ll stretch the trip a bit and hit the Caribbean.”

I just happened to have a private island over there. Well, technically Ha Yeong-il bought it, since he’s American, but once the foreign currency restrictions lift, it’ll be mine.

“Wait, what? I just got back, though?”

“This time it’s for work, so it’s fine. We’re not leaving right now, anyway—it’s in two days. So, get ready.”

I was originally planning to go in about ten days, but the meeting got moved up, so I’d just head out early and have fun first.

I’d prefer to wrap everything up before going, but there’s this damn summer break in the way. Plus, I made some promises with Myrian.

School really is a pain.

***

Caribbean.

Wearing a crisp white bikini, I lounged, enjoying the sun and the breeze. The wide, open sea view was perfect.

Best of all? No noisy people around.

This is why rich people buy islands for vacation.

“...But if you’re just going to sit here looking at documents, why wear a swimsuit at all?”

Si-hyun stared at me, completely dumbfounded.

“Told you, this is a work trip. I’m here in the Caribbean, might as well check on the local holding company too.”

The Caribbean’s a famous tax haven. That’s why Alpha Fund’s incorporated here.

It’s technically a paper company, but since the internet isn’t really a thing yet, I still need to show up in person for some of this stuff.

“And besides, this is relaxing.”

I smiled, eyeing Si-hyun in her swimsuit. With her constant self-discipline, she’d kept her teenage figure, and as she caught me looking, she instinctively crossed her arms over her chest.

‘Nice... Summer’s all about the sea.’

As I gently pressed against her toned abs, she took a step back, brushing off my hand.

“...Seriously, Miss. Is this why you didn’t bring the nanny?”

“Exactly. And she’d make it harder to get away with bad stuff.”

“...Why not just play like a normal person? You had plenty of toys as a kid, unlike me.”

She started rambling about her childhood again.

How she loved playing squid games as a kid, but kept ripping her clothes so she stopped after puberty. How she had this expensive toy her uncle gave her and used it for over ten years. How she almost [N O V E L I G H T] cracked her skull in a rock fight in Incheon...

‘Why the hell were you in a rock fight...?’

Also, can we not talk about squid games on a deserted island? That’s creepy.

“This is how I have fun. Sure, I like games, but they’re still rough around the edges, you know? Making money never gets old.”

“....”

I chuckled and poked her chest.

“Hey, Si-hyun. You got today’s paper?”

“Yes, I did. I knew we’d be working on vacation, but it still feels weird. People are so fickle...”

Grumbling, she opened her crossbody bag and tossed a few papers over.

[East Germans Fleeing Over Hungarian Border... Otto von Habsburg Expresses Support]

Good news.

“Hungary’s already back with the free world... It’s just a matter of time for the rest.”

“Still, I think it’ll take a while before East Germany falls.”

Si-hyun tilted her head, not having heard my prediction about the Soviet collapse.

‘Yeah, no one expected East Germany to fall. It was half an accident anyway... Tch, with the butterfly effect, maybe it’ll fall later this time.’

I nodded as I sorted through my thoughts.

“You’re right, maybe. I’ll push myself in November and head to Germany.”

“...What?”

What?

It’s just a trip.

But hey, I have to see the Berlin Wall fall with my own eyes.