Chapter 69: 69
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Gun-Ho had nothing to do in the mornings since the auction class started in the afternoon .
All he did was reading an economic newspaper and surfing the web .
"I don't have to feel pressured . Even though I don't make money for a year, it will cost me only about 20 million won . "
Gun-Ho sometimes went to a public library to read books he hadn't have time for . He read some liberal arts books or business books .
"Maybe I should invest some money in stocks . I don't want to invest a lot because it's risky . Let's try 50 million won . "
Gun-Ho studied stock charts .
"By looking at the trading volume and the moving average lines, Daehan Logistics, Lotte Chemical, and QM Steel look good . In addition, Daehan Logistics is on the market for M&A . Once it is sold to a big company, its stock price will hike . Lotte Chemical looks good too . QM Steel produces stainless steel pipes and it has a low debt ratio . "
Gun-Ho had work experience in accounting, in addition to his studies in accounting at Zhejiang University . He could quickly read a company's financial statements . Gun-Ho selected these three companies and traded them on a daily basis . He sometimes lost and sometimes gained . His eyes hurt after looking at his computer monitor for long hours .
"They said that Daehan Logistics had been on the market but I don't see any movement related to it . Its stock price doesn't move and it's annoying . They said that CJ, Kumho Asiana Group, and Lotte Group are interested in acquiring it, but nothing happened yet . "
Gun-Ho's expectation toward Daehan Logistics lowered . The volume of Lotte Chemical got low . Many of their products are exported to overseas including China, but the stock trading volume became low . Let's sell them once the price recovers to the original price I purchased at . "
Gun-Ho didn't make money from Lotte Chemical either .
"The chart and the trading volume looks good . I'm not sure who is pressing the price . "
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Gun-Ho made some money from QM Steel .
"I invested 10 million won into QM Steel and the price went up by 3 . 5% . Even after I subtract the stock trading fee, I still made 300,000 won . "
Gun-Ho went to an ATM close to his office-tel and withdrew 300,000 won he just made from the QM Steel stock trading .
"It's not bad at all . I made 300,000 won in two days . "
Gun-Ho went to Gyeongbang Department Store, and bought t-shirts and a jacket with the 300,000 won; he felt like it was free money . He had an extravagant meal in a restaurant located on the top of the department store building .
"Let's sell some of Daehan Logistics and Lotte Chemical, and put them into QM Steel . "
Gun-Ho invested 300,000 more in QM Steel and had fun doing something else .
QM Steel had potential . On the following day, Gun-Ho closely monitored the stock movement of QM Steel . Its stock price was exceeding the market price, and Gun-Ho sold his stocks at a good price while monitoring the one-minute chart .
"I made 200,000 won today . "
Once Gun-Ho started making money by stock trading with QM Steel, he didn't want to do anything else but doing stocks in his office-tel .
"It's time to go to the auction class . Should I skip the class today? Or should I go? The stock market is still open . "
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Gun-Ho decided to go to the class .
"I should know about auction and I already paid for the course . It's hard to take my eyes off the stock chart though . "
The instructor of the auction class explained about how to participate in an auction at a courthouse .
"There are a lot of websites showing the auction items . To have more details on the items, you can register certain websites by paying a small membership fee . If you see one you really like, you will have to go see it yourself . "
The auction was interesting, maybe because it is easily found in daily life .
"Before you go see the item yourself, you should read and understand the information provided by the court website . Once a property is sold at an auction, it releases the financial institution's debt; however, you have to be careful with the issues with a tenant, right of superficies, and the Imchi right . "
A student raised his hand and asked a question .
"What is Imchi right? I saw a banner on a building on the way to the class today; it said it was exercising its Imchi right . "
"Imchi right is a legal term . It is created when one party entrusted money or objects to another party, and the receiving party promised to keep it safe . Usually, the construction company or renovation company exercise this right when they didn't get paid for their work . "
Gun-Ho was not sure if he fully understood what the instructor said .
"A legal term is always difficult to understand . "
Gun-Ho spent money more easily than before since he had been making some money from day trading . He now took a taxi instead of a bus or subway when he came home from his auction class in the private institution in Yongsan to his office-tel in Yeongdeungpo .
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"A bus doesn't run often and I don't get a seat on a bus after the class because the bus is often full during the hours . "
The taxi fare was not a big deal to Gun-Ho anymore .
There was no auction class today .
Gun-Ho felt lazy cooking his breakfast . He went to a porridge house close to his office-tel to have his breakfast; he had a vegetable porridge .
"Let's do the day trading with QM Steel today unless I see other exceptionally good stocks that exceed the average market price . "
Gun-Ho sat his desk and opened the online stock trading website and logged in by entering his login ID, password, and his authorization certificate .
"Huh? What is this? The price stays the same and the trading volume is zero?"
It was strange . Gun-Ho clicked the official announcement .
"What? The company might be delisted and they are looking into it right now? Its president is accused of embezzlement? I invested 30 million won in QM Steel . Trading of this stock is not allowed until all become clear . F*ck! I can't touch my money until then . "
Stock investment was difficult . Gun-Ho spent time studying about stocks and analyzing financial statements, and he carefully selected bottom-priced stocks to play with, but still, this sort of things happened to him .
An investigation of delisting of a company occurred when there was; embezzlement, breach of duty, fabricating a sales report or giving inaccurate publicly available information in bad faith, that was material enough to affect an investors' decision . Gun-Ho entered the stock discussion forum where he could get various information .
"The president took the company's money and ran away . "
"The majority shareholder entity of QM Steel will start its rehabilitation process . "
"That president committed embezzlement before, and he did it again during his probation period and already flew to another country . "
All sorts of rumors came out .
Gun-Ho felt drained . What if he invested all of his 1,170 million won into the QM Steel stocks? The thought of it terrified him .
"Whoa, it's not difficult to lose everything in a day . "
What Chairman Lee said crossed Gun-Ho's mind .
"I don't do stocks because I can't figure out the other player's cards . That's why I don't do stocks . "
Gun-Ho could picture Chairman Lee smiling .
"What if they decided to delist the company stock? I will likely lose my shares . They might declare bankruptcy . Sh*t!"
Gun-Ho was so worried that he didn't even feel hungry for lunch .
"I lose 30 million won from my investment in QM Steel; if I add my living cost and the office-tel rent of 20 million won to it, I will lose 50 million won in total for the year… I can lose all of the money I made from China gradually in this way!"
Gun-Ho felt scared .