A Wall Street Genius's Final Investment Playbook-Chapter 151

Meanwhile, Ackman was at the peak of physical and mental exhaustion.

On the surface, he maintained a cheerful conversation with a smile, but such extravagant parties were far from his taste.

‘Should I endure for just 30 more minutes and then leave…?'

However, just as he steadied his resolve and lifted his wine glass—

His movement stopped.

At the edge of his vision, a familiar silhouette came into view.

A man whose height stood a full head above others.

A neat, almost overly sharp appearance, exuding an air of precision.

A young East Asian man.

It was Ha Si-heon.

‘How on earth did he end up here…?'

He was undoubtedly a person at the center of recent discussions.

But this was a place where temporary fame alone wouldn’t grant entry—so how did he manage to get in?

The question was soon answered.

Because standing beside Ha Si-heon was Kissinger.

‘Did he use his connections?'

Ackman was about to dismiss it as a common occurrence, but he found himself unable to look away.

The persistence Ha Si-heon had shown during the session earlier came to mind.

The tenacity he displayed, even going as far as bribing other questioners just to direct his question at Ackman.

‘Perhaps…'

A sense of impending trouble crept over him.

‘There are three possibilities.'

He was either a fervent fan of Ackman,

Someone seeking to gain his favor and build a relationship.

Or, on the contrary, someone aiming to attack Ackman to make a name for himself.

But in any case, all three options were equally tedious.

Having reached this conclusion, Ackman dismissed any interest in Ha Si-heon.

To say he ignored him completely would be more accurate.

However, just as he was about to look away, his eyes met Ha Si-heon's.

Ha Si-heon flashed him a bright smile and then whispered something into Kissinger’s ear.

‘This is going to be troublesome.’

Ackman sighed inwardly.

Without a doubt, Ha Si-heon was asking Kissinger’s permission to come over.

However, his prediction was only half correct.

Ha Si-heon was indeed approaching—but not alone.

Kissinger was walking alongside him.

Ackman suppressed the urge to grimace.

‘This makes escaping even harder.’

Had Ha Si-heon come alone, he could have exchanged a brief greeting and quickly excused himself.

But with Kissinger accompanying him, that would be impossible.

The ballroom was filled with countless eyes and ears.

If he blatantly avoided the conversation, rumors could easily spread—something like, "Ackman snubbed Kissinger."

As he calculated his next move, the two men arrived right before him.

Kissinger extended his hand first and spoke.

“So, you must be Ackman. I’ve heard quite a bit about you. Henry Kissinger.”

“It’s an honor to meet you. I’m William Ackman.”

“This here is Ha Si-heon. He was a great help in the Theranos case recently.”

At Kissinger’s introduction, Ha Si-heon immediately offered a polite greeting.

“I must apologize for my rudeness today.”

“Rudeness?”

“During your session earlier, I behaved somewhat discourteously. I was so eager to ask my question that I requested another questioner to yield their turn to me.”

Ha Si-heon briefly explained the situation to the puzzled Kissinger before turning back to Ackman.

“If I made you uncomfortable, I sincerely apologize. I have an unfortunate habit of losing my manners when curiosity gets the best of me. I’m trying to fix it, but it’s not easy. Even if I repeat such behavior, I hope you’ll be understanding.”

Ackman blinked.

On the surface, it was an apology full of humility.

But there was something subtly off about its underlying message.

Was he saying, "I’ll continue to act this way, so please tolerate it?"

It felt like both a disclaimer and a warning.

Yet Kissinger, standing beside him, seemed to take his words lightly.

“Haha, this young man is quite direct. It might be a little shocking at first, but he means no harm, so don’t misunderstand.”

Ackman responded smoothly.

“That’s a mistake young people often make. I’ve made my fair share myself, so I completely understand.”

“Oh? You have?”

Kissinger’s expression brightened with interest as he continued.

“Actually, this young man has recently started an activist fund. He’s hoping to seek your advice. As a senior in the field, could you share some wisdom?”

This was also Ackman’s first meeting with Kissinger.

However, given Kissinger’s influence, outright refusal wasn’t an option.

“Advice… That’s quite broad. I’m not sure where to begin.”

“Haha, that’s true. Do you have any specific questions?”

Kissinger turned to Ha Si-heon.

Meanwhile, Ackman was already feeling exhausted.

‘It’s bound to be the usual questions.'

In situations like this, the questions were almost always predictable.

And so were the answers.

Most could easily be found through a simple internet search.

The thought of having to personally convey such trivial information tired him.

But then—something unexpected happened.

A bitter smile spread across Ha Si-heon's face, and with a shadowed expression, he spoke.

“This might sound ungrateful, but ever since the Theranos incident, people have told me that a ‘premium’ has been attached to my words. That from now on, regardless of my actual skills, my name alone will attract attention.”

Ackman’s eyebrow twitched slightly.

The word "premium" had struck a nerve.

He was all too familiar with that term.

Ackman’s name alone carried weight in the market.

Regardless of the logic behind his claims, just the mention of his name could influence outcomes.

Critics often dismissed his abilities with the phrase "Ackman Premium," using it to undermine his skills.

“In such a situation, if I fail in my investments, people will say I failed despite having that premium—casting doubt on my competence. How do you overcome this kind of anxiety?”

“I suppose that’s understandable from your perspective.”

Kissinger seemed to acknowledge it as a valid concern.

But to Ackman, the question sounded entirely different.

"……"

‘A provocation?'

Ha Si-heon's mention of "failure despite the premium" subtly touched on Ackman's recent failure.

Just two weeks ago, Ackman had unveiled a presentation titled The Great Deception, exposing the hidden realities of Herbalife.

At the time, he claimed that Herbalife was luring low-income and minority groups under the guise of "health clubs" to exploit them for unfair profits.

He also raised the possibility that the company’s sales performance figures had been manipulated.

However, the market was not convinced.

Instead, Herbalife's stock surged by 25%, climbing from $54 to $67.

This unexpected outcome became prime fodder for those eager to mock Ackman’s reputation and "premium."

For a while, cynical remarks like "Even the Ackman Premium didn’t work" circulated in the market.

‘Am I overreacting?'

Perhaps his recent bitter experience had made him overly sensitive…

Ackman tried to reassure himself with that thought.

As he was lost in contemplation—

"There’s no need to pay attention to such noise. The greater a person’s potential, the louder the chatter around them."

Kissinger offered him an earnest piece of advice.

Ackman, maintaining a serene smile, prepared his response.

"If one fears failure, they can never start anything. Every achievement comes with a process, and mistakes are an inevitable part of that process. There will always be those who laugh at the missteps along the way, but in the end, the only thing that matters is the result. When victory comes, the mockers will regret their misjudgment."

"The result is all that matters…"

Ha Si-heon seemed to be mulling over Ackman’s words.

However, rather than looking reassured, his expression darkened even more.

After a brief pause, he carefully opened his mouth, as if revealing a deeper anxiety.

"To be honest… even in the Theranos case, I think I was just lucky. When I first heard about Holmes, I hesitated. The idea that it would become the ‘Apple of the healthcare industry,' and the fact that former Apple executives were involved… it seemed plausible. I even entertained the thought of how attractive it would be if Apple's success formula could be applied to another field. I barely caught the fraud in time, but… when I think about it now, it could have just been luck. This time, I happened to uncover the truth. But will I be able to do it again? That pressure is…"

"The burden must be heavy."

Kissinger looked at Ha Si-heon with sympathetic eyes.

But a subtle smile spread across Ackman’s lips.

By now, Ha Si-heon's true intentions were crystal clear.

‘So it wasn’t just my imagination.'

There was no longer any doubt.

That was a deliberate provocation.

‘He's trying to remind me of the Langston nightmare.'

Langston was a famous department store chain in the U.S., an investment Ackman had painfully withdrawn from recently.

He had secured an 18% stake in Langston, envisioning a major transformation.

To achieve this, he brought in a former Apple executive to serve as CEO.

His plan was to transplant Apple Store’s successful model into Langston and revitalize its outdated image.

But the result was disastrous.

Langston’s core middle-class customers valued practicality and turned away from Apple-style premium experiences.

The damage was catastrophic.

Annual revenue plummeted by $4.3 billion, the stock price tumbled from $40 to $10, and Ackman was left with a staggering $500 million loss.

And now, Ha Si-heon was carefully dropping phrases like "Apple of healthcare," "applying Apple's success model to another field," and "failure."

His intent was clear.

‘He's trying to provoke an emotional reaction from me.'

Losing composure or reacting emotionally would be a mistake.

That was exactly what Ha Si-heon was aiming for.

‘How should I respond…?'

Unlike before, when Ackman had dismissed him entirely, he now found himself intrigued by Ha Si-heon.

Why was he going to such lengths to rile him up?

Still, despite his curiosity, he carefully weighed the pros and cons of the situation.

For Ha Si-heon, provoking Ackman could be highly beneficial.

A verbal sparring match with a major figure could instantly boost his name recognition.

On the other hand, there was no upside for Ackman.

Even if he won, he gained nothing, while a loss would bring humiliation.

A battle with zero return.

It wasn’t a wise choice.

That meant there was only one optimal strategy—

Ignore.

The smartest move was to completely disregard him and leave.

But there was a problem.

‘Kissinger is still here.'

Abruptly cutting off the conversation with Kissinger wouldn't look good.

As Ackman was pondering this dilemma,

A new voice suddenly interrupted the conversation.

"Mr. Kissinger! What a surprise to see you here."

It was Owen Bradshaw, a New York State Senator.

Kissinger’s expression flickered with both surprise and delight.

"Owen! You’re here as well?"

"Sir, could I have a moment of your time? There’s something I’d like to discuss…"

Kissinger gave Ackman and Ha Si-heon an apologetic look before nodding.

"I’ll be back in a moment. You two continue your conversation."

A stroke of unexpected luck.

With Kissinger gone and only the two of them remaining, Ackman glanced at his watch before speaking.

"Unfortunately, I have to return to New York tonight, so I’ll have to excuse myself."

"Tonight, you say… Then I suppose we won’t have time for our scheduled Q&A session?"

"Regrettably, no. My schedule is packed these days."

Ackman firmly attempted to wrap up the conversation.

However, Ha Si-heon suddenly said something unexpected.

"Before you leave, may I ask a question that I didn’t get to ask during the session?"

Ackman’s steps halted.

The questions Ha Si-heon had raised earlier flashed through his mind.

—Lately, some funds have been finding ways to bypass transparency regulations. There’s an increasing trend of using options or derivatives to secretly secure stakes while delaying 13D disclosures…

That question had already irritated him.

Because it touched on a strategy he was currently pursuing in secret.

‘A question he didn’t get to ask…'

A fragment of his earlier words echoed in his mind like a hallucination.

—Then, what are your thoughts on the recent rise in alliances?

Alliances.

A keyword that carried an ominous undertone.

It was precisely why Ackman had shut down the topic during the session.

And now, Ha Si-heon was about to bring up that very question again.

When Ackman turned around, Ha Si-heon was smiling. freeωebnovēl.c૦m

Not the meek, deferential expression he had shown earlier in front of Kissinger—

But a confident, even slightly provocative smile.

"Lately, activist funds seem to be forming rather unusual alliances. I’m curious about your thoughts on this."

"I’m not sure what kind of alliances you’re referring to. You’d have to be more specific for me to understand."

"I'm talking about unprecedented partnerships. Situations where truly unexpected parties are joining forces."

Ackman’s expression hardened in an instant.

Instead of answering, he scrutinized Ha Si-heon sharply.

Then, at last, he spoke.

"How much do you know?"