Chapter 34: Ah, This Is… Short Selling

Short selling

One method of stock trading, unlike the general approach of profiting when stock prices rise, short selling allows you to earn money when stock prices fall.

The principle is as follows:

First, borrow 10 shares of a 100,000 won stock from the market by paying a 10,000 won commission.

If I sell those shares, I’ll have 1,000,000 won in cash.

Then, if the stock price later falls to 50,000 won, I can repurchase 10 shares for 500,000 won.

Afterward, I return those 10 shares to the lender.

Effectively, although the stock’s value has decreased, I’ve returned the 10 shares I borrowed and paid the 10,000 won commission, making it a nominally flawless transaction.

And I’m left with 490,000 won in cash.

This is the principle of short selling, where one can profit from others’ losses. I applied this concept to the current situation of madness and destruction.

First, under the pretext of an ‘official facility lease’ and leveraging the Church’s authority, connections, and the ominous atmosphere from successive heretic punishments, I borrowed building documents from wealthy merchants.

Admittedly, this process wasn’t easy, but by providing contracts guaranteeing the documents’ return after completion and citing the symbolic gesture of offering one’s possessions to God during official ceremonies, the other party had no choice but to comply, lest they appear unfavorable to the Church.

Moreover, from a calculated perspective, they could earn a decent commission simply by lending the documents, making it somewhat profitable for them.

Next, these borrowed building documents were sold at the Land Registry Office, putting the equivalent cash value in Lipton’s hands.

And immediately after the registry sale, Lipton would accuse the building’s lender of heresy and thoroughly demolish the ‘leased’ premises.

With the already increasingly unruly mobs, the demolition would be exceedingly thorough, leaving no stone unturned.

Then, some time later, the registry would naturally list the now-worthless ‘former building’ documents as scraps of paper.

Since the registry typically waits around two weeks to assess market trends and authenticity before trading any listed land or buildings, there was little risk of someone else acquiring them in the interim. Even if purchased, the plummeting building value would likely compel a hasty resale at a loss.

Lipton could then repurchase the documents at a pittance and return them to the original owner, though in cases where the owner was killed, even that became unnecessary.

Ultimately, this would result in substantial losses for both the original building owner and the registry, while Lipton pocketed roughly half the profits.

And at this very moment, we witnessed Lipton’s jubilant celebration over the immense gains he had acquired through this method…

Simultaneously, a quiet smile formed on our lips.

Of course, our smiles weren’t directed at the scene before us but rather in anticipation of what would unfold afterward.

“Ahahaha! This is truly remarkable! To earn a whopping 30 talents in a single stroke, excluding the merchandise trade! I’ve never experienced anything like this before!”

Overcome with glee, Lipton burst into laughter.

Observing his demeanor, Cazeros quietly smiled, while Polena, offering a drink nearby, looked slightly startled as she remarked, “To have earned such a vast sum… I don’t know the details, but congratulations.”

“Ahaha, thank you, Polena. Come to think of it, this is also thanks to you. Here, accept this as a token of my gratitude!”

With those words, Lipton extended a purse filled with silver coins.

Polena received it joyfully, her expression brightening.

“Oh my… Thank you. Even something like this… I’ll make good use of it. Truly, the saying that assisting those who serve the Lord brings blessings rings true!”

“Haha, indeed, indeed. Now, instead of lingering, let us all have a drink. You too, good escort, come and join us. Dame Cazeros is truly a genius. How did you conceive of such a remarkable idea?”

As Lipton raised his glass, reveling in the fruits of their endeavor, Cazeros regarded him with a solemn expression.

“Unfortunately, it is not yet time to toast our success, Lipton.”

“Hm?… What do you…”

Cazeros’s voice carried a hint of sternness, causing bewilderment and slight unease to cross Lipton’s face. Observing this, she addressed him in a composed manner.

“This is advice based on my experience, so I ask that you heed it carefully. Although this method undoubtedly allows you to borrow immense sums in a short period, if such acts are repeated, people will inevitably become wary and refuse to lend building documents from the outset.”

“That is… certainly true.”

While no significant issues arose on this first occasion, it was clear that as word spread, acquiring building documents on loan would become increasingly challenging.

Furthermore, if this operation was repeated excessively, the registry, being the party incurring losses, might eventually catch on.

Pointing this out to the elated Lipton, who was riding high on his initial success, Cazeros continued in a measured tone.

“As such, to secure a substantial profit, you will need to strike a major blow here and quickly withdraw.”

“You… You mean…”

Lipton’s voice carried a hint of unease at Cazeros’s words.

In response, she slowly nodded before addressing him.

“Yes, immediately, before rumors spread, you must mobilize people simultaneously in a coordinated strike. Regardless, barely one instance has occurred, so it will take some time for word to spread. Deploy your maximum manpower to immediately target those you’ve had in mind.”

“Hmm… I understand. As my birthday is approaching soon, I could use that as a pretext to gather as many people as possible and proceed with the operation.”

Following Cazeros’s advice, Lipton contemplated executing a large-scale operation.

Although he was well aware of the risks involved in escalating matters, the potential rewards were too great to ignore. More crucially, Lipton had already tasted that sweet flavor.

The indescribably sweet taste of victory felt when personally smiling while plunging others into ruin – far sweeter than any ordinary satisfaction.

Thus, his mind became utterly preoccupied with the immense wealth undoubtedly awaiting him, brushing aside any concerns over potential risks.

‘Yes… Through this operation, I’ll make a major haul. There may be some temporary uproar, but if I lie low for a while, it will eventually blow over. Humans tend to quickly forget matters not directly concerning them. By investing time to methodically accumulate wealth, I will ultimately attain my goal.’

Reaffirming the long-sought objective now seemingly within reach, Lipton downed his beer without restraint, utterly disregarding the countless lives he had and would continue to ruin in pursuit of his ambition.

Having become an Inquisitor, incited the masses, and amassed wealth through these means, his ever-present desire was to secure the position of Bishop of Munhel by investing his vast riches.

‘I’ve maintained connections with the Papal State solely for this day. Once this operation concludes and I have the funds, the Bishop’s seat is merely a matter of time. Finally… I can shed the indignity of being mocked as a penniless noble brat and achieve my goal.’

Recognizing that his dream was becoming a reality, Lipton unhesitatingly raised his beer mug, devoid of any concern for the countless lives he had ruined and would continue to ruin in pursuit of this ambition.