A Wall Street Genius's Final Investment Playbook-Chapter 102

The next evening, at 7 p.m.

"Mr. Slater, this way."

Dex Slater arrived at the CNBC broadcasting station and followed the staff's guidance to a familiar waiting room.

While receiving light makeup, his mind was filled with complex thoughts.

‘How will Epicura respond?’

The recent exposé was a once-in-a-lifetime opportunity for him, but for Epicura, it was a devastating blow.

Allegations that they assessed profitability based on the race of their customers and adjusted their business accordingly.

Such actions were utterly unacceptable.

The entire nation had turned against them, branding them as traitors, and even the shareholders had abandoned them en masse.

Who would support a management team and board that had done such a thing?

Yet, something felt off.

The source of the ‘tip’ that had been an incredible stroke of luck for Slater remained unknown.

There were two possibilities.

Either it came from a whistleblower, or Epicura deliberately leaked it themselves.

‘It’s most likely a whistleblower.’

Slater leaned toward the former.

The racial discrimination allegations alone were a fatal blow.

Even if they were later proven false, just being caught up in such a controversy would cause irreversible damage.

It didn’t make sense for Epicura to willingly use such a risky tactic.

Moreover, Epicura's response so far had been disastrous.

They had offered no explanations other than a brief statement claiming the allegations were "completely baseless."

That lack of response further supported the possibility that the leak came from a whistleblower.

However—

He remained cautious.

Epicura had acted unpredictably in the past.

So he couldn’t completely rule out the possibility that they had leaked the information intentionally.

‘If they did it on purpose…?’

They might have deliberately provided false information, only to later claim, “White Shark tried to attack us with unverified data.”

It seemed odd to make such a risky move just for that, but…

‘If it’s that guy, it’s possible.’

The man behind all of this—Pierce—was impossible to read.

So even a slim possibility was worth considering.

That was why Slater used the tip-off but kept his distance from it.

He had merely presented the unverified allegations, leaving himself an easy escape route.

That had led to the current situation.

At this moment, the tide overwhelmingly favored Shark Capital.

And now, Epicura had decided to appear on a broadcast.

What move were they planning?

What did they hope to achieve with this interview?

‘They have no choice but to prove their innocence.’

Perhaps they were going to claim that the leaked data had been fabricated.

They would likely bring forward all kinds of evidence to clear their name.

It was strange that it had taken them several days just to do that…

But maybe the whistleblowing had been so sudden and damaging that their response had been delayed.

That was the only plausible explanation.

That had to be it…

‘But something doesn’t sit right.’

This… This was too sloppy for the Epicura he had faced before.

An opponent he had beaten three times out of three—now suddenly exposing weaknesses.

Slater sensed an odd unease.

“We’re moving now.”

Just then, a staff member’s voice snapped him out of his thoughts.

As another staff member approached to attach his microphone, Slater organized his thoughts.

It was too late to hesitate now.

At this point, all that remained was to see what cards they had prepared.

Slater followed the staff’s lead and headed into the main studio.

And the moment he stepped inside, he saw a familiar face.

A young East Asian man, standing a head taller than the others.

It was Ha Si-heon.

‘They sent him?’

Slater knew that Goldman had sent an analyst, but he hadn’t known who it would be.

Now he did.

He had seen Ha Si-heon before.

A couple of times in the past, during meetings with Whitmer.

A man who had always stood in the background, like part of the decor.

A man so insignificant that Slater could barely remember his face or name.

And yet, they had chosen to put him on air…

‘Are they out of their minds?’

It was absurd, yet—

At the same time, it made sense.

‘It must be because he’s Asian.’

Racial issues were extremely sensitive.

It was difficult for a white person to speak on the matter without backlash.

And if a Black person spoke, it might come across as a victim confronting the perpetrator.

But an Asian?

An Asian could empathize with the struggles of minorities while still maintaining neutrality.

‘They thought this through.’

Still, sending an analyst…

Especially against the infamous White Shark?

…

That, too, raised questions for Slater.

Epicura was in a desperate situation, needing to prove their innocence under intense public scrutiny.

Yet, they had entrusted this critical task to a mere rookie?

Just because he was Asian?

There was only one possible explanation.

If their CEO or an executive spoke directly, any careless remark could be taken out of context and exaggerated.

So they put someone expendable at the forefront.

‘Are they testing reactions?’

First, they send in a rookie as a scapegoat to throw out various claims and gauge public response.

If the public responds favorably to any of these claims, they can then hold an official press conference to build on that argument.

If any explanation backfires or stirs more controversy, they can dismiss it as a mistake made by a low-level employee, distancing themselves from it.

But—

That was precisely why Slater had come in person.

To crush every argument Epicura made.

That rookie would present evidence claiming Epicura’s innocence.

But Slater would systematically dismantle every excuse, leaving no room for escape.

It wouldn’t be too difficult.

After all, he was just up against a rookie Wall Street analyst.

Slater’s gaze lingered on Ha Si-heon.

But… something was off.

‘He’s not nervous.’

A rookie at his level should find a broadcasting studio unfamiliar.

He should at least show some curiosity about the numerous cameras, equipment, and staff around him.

Yet, Ha Si-heon seemed utterly uninterested in his surroundings.

As if he had stood in such a setting many times before.

“Going to commercial!”

The previous segment ended, and during the commercial break, the set was prepared.

Slater and Ha Si-heon took their designated seats.

Slater put on a benevolent smile.

“I’ve seen your face before, but I never caught your name. I’m Dex Slater.”

“I’m Ha Si-heon. You can call me Sean.”

“Don’t be nervous. Just speak as you normally would.”

“As I normally would, huh…”

Ha Si-heon smiled.

There wasn’t the slightest trace of nervousness.

No—rather, there was something odd about that smile.

It was the kind of smile one gives upon spotting prey.

Slater, briefly thrown off by the incongruity, watched as Ha Si-heon’s expression subtly shifted back to one of humility.

“I may be a bit blunt at times and might come across as rude. If I do, I hope you’ll be understanding.”

“Haha, it’s fine.”

Slater laughed it off, but something felt strange.

It was as if Ha Si-heon was declaring in advance that he was going to be rude.

But there was no time to dwell on it.

“Going live in 5, 4, 3, 2, 1!”

The cameras rolled.

***

[Thank you for waiting. We have representatives from both Shark Capital and Epicura here to discuss today’s most pressing issue. Joining us once again is Dex Slater from Shark Capital, and beside him… representing Epicura, we have Ha Si-heon from Goldman.]

After a brief introduction, the host immediately got to the point.

[As many of you have seen, Mr. Slater has raised several allegations. First, let’s start with the reason behind the sale of Harbor Lobster.]

[That’s right. I found the order of the sale and acquisition suspicious.]

[More than just suspicious—you suggested that the true reason for the sale was hidden, and that the acquisition was just a cover-up, correct?]

[I never stated it as a certainty. I only pointed out the possibility, as there isn’t enough evidence to make a definitive claim.]

Slater was careful.

Every word he spoke could be exaggerated or distorted.

Before making accusations, he needed to establish objective facts.

[I simply want to clarify the timeline. Between the sale of Harbor Lobster and the acquisition of Double Crab House, which came first?]

Turning to his side, he posed the question, and Ha Si-heon answered.

[The sale of Harbor Lobster came first.]

Slater had expected some hesitation or evasion.

But surprisingly, Ha Si-heon admitted it outright.

[So you completed the sale first and then proceeded with the acquisition?]

[Yes. As we were finalizing the sale and signing the final contracts, we began looking for acquisition targets. It was a relatively rushed process.]

Something felt… off.

He was giving away answers too easily.

As if he had nothing to hide.

[Shark Capital has argued that there was another reason behind the sale of Harbor Lobster, and that the acquisition was merely a cover-up…]

[That claim is baseless.]

Ha Si-heon responded firmly to the host’s statement.

But he didn’t offer any further explanation.

So Slater stepped in.

[Didn’t you announce at your recent press conference that the sale was made in preparation for an acquisition?]

[That’s correct.]

[If that’s the case, wouldn’t it make more sense to first find an acquisition target and then search for a buyer for Harbor Lobster?]

[Not necessarily.]

Ha Si-heon remained unfazed.

[Imagine someone wants to buy a new car. They sell their old car first to secure funds, and then, with the money in hand, they shop around for a new one. Just because they looked at new cars afterward doesn’t mean they had hidden issues with the old one or were covering something up.]

Unexpectedly, the rookie was articulate.

By using a simple analogy, he made White Shark’s claims sound ridiculous.

But Slater quickly regained his focus.

[I didn’t base my suspicions solely on the order of the transactions. The biggest issue was the timing.]

The most suspicious aspect of this sale—

[Epicura rushed the sale before the shareholders’ meeting, despite strong opposition. As if they had some urgent reason to get rid of it.]

[That was because we wanted to secure an early mover advantage in the fast-casual market. Consumers typically remember at most three leading brands. Chipotle and Shake Shack had already taken two spots, meaning there was only one left. Meanwhile, competitors like McDonald's and Burger King were rumored to be searching for fast-casual brands as well. That’s why we acted quickly.]

[The shareholders’ meeting was only a couple of months away. That’s not much of a difference.]

[When competitors are closing in, there’s no reason to wait those extra months. It’s a judgment call. Just because we hurried doesn’t mean Harbor Lobster had hidden issues. If you see someone running frantically down the street, you don’t automatically assume they committed a crime and are fleeing, do you?]

[But there were actual concerns surrounding Harbor Lobster.]

Suddenly, the host intervened.

[Yes, and that brings us to today’s biggest issue—the anonymous whistleblower report.]

Indeed.

This was the real bombshell.

The biggest revelation was yet to come.

[According to this document, Epicura conducted a detailed study on the consumption patterns of African American households. There were no reports on other racial groups—only investigations focused on areas with a high African American population. Was this research truly commissioned by Epicura?]

[Yes, it was.]

[……]

The studio froze for a moment.

It was an entirely unexpected response.

Everyone had assumed he would deny it.

[There are also allegations that this study led to the decision to sell Harbor Lobster. Is that true?]

[Yes, it is.]

[…]

Another chilling silence fell over the room.

No one had anticipated that he would acknowledge everything so cleanly.

As the host struggled to recover, Slater felt a strange sense of déjà vu.

This rhythm…

First, agreeing to unexpected claims to disrupt the opponent’s pace…

‘It’s him.’

Pierce. The mastermind behind all of this.

Pierce had undoubtedly trained this man thoroughly.

He wasn’t just a disposable pawn.

They had sent someone fully prepared.

[Hmm… So, are you saying that Epicura determined African Americans were not profitable and made a business decision to abandon that customer base?]

The host, barely regaining composure, pressed again.

Ha Si-heon responded firmly.

[No, that’s not the case. That’s an odd way to put it.]

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