No... I don't want to be alone anymore.
But that doesn't matter. I remembered...
That's right... There is someone who loves me.
What are you to me?
No, what am I to you?
ORIGINAL STORY BY ISUNA HASEKURA
Jeez! Didn't I tell you?
I can't believe you're the same man who was so confident earlier.
Something unforeseen happened.
It was completely unexpected.
-And I... -You let your guard down.
Be honest.
You're right.
So, what do you want to ask about?
If you want money from me, you won't get it.
I want to know which way the wind is blowing.
Even if I wanted to catch the wind and set sail,
an outsider like me wouldn't be able to forecast
the "winds" of the market here.
Just give up.
Just as nobody can stop a raging horse,
it's not easy to stop raising prices.
On the price board that they built next to the stone seller,
the waiting list keeps growing while the availability stays the same.
I don't expect the prices to drop anytime soon.
Unless you're an almighty god,
it'll be impossible to change this trend.
Then I'll just have to act like I'm a god.
A predictable drop in price
wouldn't be enough to bring down Amati anyway.
Are you thinking about setting off a crash in the market?
That's the only option.
Anyway, by sunset tomorrow,
I have to turn all the pyrite that he bought
into nothing but useless rocks.
A trick good enough to deceive him...
A trick that will trigger a crash...
Is there such a thing?
Then I'll just have to act like I'm a god.
God...
How much will you buy these for?
Look,
everything appears tilted in my eyes.
Excuse me, but do you have time to be contemplating?
If I were Holo...
Take a look at this.
Prepare yourselves...
You went all out, didn't you?
Did you give up on the wheat business?
Rumor has it that the value will double by tomorrow.
Double? Really?
No doubt about it.
If you drop your sail just because it's a festival,
you will miss out on a great opportunity.
I guess it's no time to be playing it safe and purchasing wheat.
That's true.
That was delicious.
The fish was as good as they said it was.
I'm curious about the other items on the menu now.
Mr. Lawrence.
Oh, sorry. May I help you?
I was told to deliver a letter to you.
From whom?
Both of them are from your companion.
One of them I wrote on her behalf as she dictated.
Can I get some light, please?
"Cash on hand: 200 silver coins."
Amount of pyrite on hand: 300 silver coins' worth.
Sellable assets..."
This is a breakdown of Amati's assets!
Holo...
This is... Amati's handwriting.
Let's see... "In the name of God..."
A marriage certificate?
HOLO
Holo...
I need all of the cash that I've left with you!
The bar that Mr. Amati frequents is...
What's with him?
He's the one from the guild.
Hey! Watch where you're going...
Excuse me.
Good evening.
-May I help you? -You don't have to be so cautious.
I am here to talk business.
This is a nice, quiet place.
It's impossible to drink in peace anywhere else.
So this is a special spot.
What are you scheming?
I'll cut to the chase.
I want you to buy pyrite from me.
I want to sell you 500 silver Trenni coins' worth of pyrite
based on today's market value.
You must be joking.
It is not a joke.
You must know that I am making a profit by reselling pyrite.
So why in the world
are you trying to sell pyrite to me?
Don't tell me it is true that you
don't care about what happens to Ms. Holo, as long as you collect her debt?
No, Holo is important to me.
-Well then, why... -Of course,
I'm not selling it just like that.
I want to sell it to you on margin.
-On margin? -Yes.
What do you mean?
I mean, tomorrow evening, I want to sell you pyrite worth
500 silver Trenni coins based on today's market value.
Well then, why don't you just ask me tomorrow evening?
No, I'd like the payment now.
In other words, I will receive
500 silver Trenni coins from you right now.
And tomorrow evening, I will deliver the amount of pyrite
that is worth 500 silver Trenni coins at this moment's market value.
That's all.
So even if by tomorrow evening,
pyrite is more valuable than it is right now,
I will still receive the amount of pyrite calculated based on
-today's market price? -That's right.
For example, let's say that I sold
one piece of pyrite that costs 1,200 Ireid to you on margin right now.
I will receive that payment from you immediately.
But even if the value
of that pyrite goes up to 2,000 Ireid by tomorrow evening,
I will still have to give you the pyrite as promised.
The opposite can also be true.
Even if the value decreases to 200 Ireid,
I will still only receive one piece of pyrite, right?
Exactly.
Why not just do an ordinary transaction?
Exchanging the payment and product on different days
is basically the same thing as a regular transaction...
No, it's not.
So that's what it is?
By "selling on margin,"
you make a profit by selling a product that you don't have on hand.
Compared to "buying" on margin,
which yields profit when the products you have on hand become more valuable,
"selling" on margin yields profit when your money becomes more valuable.
In other words,
you make a profit when the value of the product
you sold drops, right?
As expected of you. You understand now, right?
I never knew of such business methods.
I guess I've become ignorant of the world around me,
by dealing solely with fish.
In this case, if you buy 500 silver coins' worth
of extra pyrite from me,
you will profit that much more when the value rises.
Likewise, you will lose that much more when the price drops.
That's true.
If you make a profit, that means I will suffer a loss.
This is basically...
Mr. Amati, I am challenging you to a duel.
It can hardly be called a "duel."
I mean, you don't plan on making this deal without a certificate, do you?
Even if the value of pyrite is going to drop by tomorrow evening,
as long as it reaches a value that can produce the money I need by then,
I can sell the certificate off to someone.
It is too disadvantageous to you.
After all, I only need a slight increase in value
to be able to reach my goal.
However, I do not wish to agree to a transaction
that is unfavorable to you, just for my own advantage.
It may seem that way if you only look at this transaction.
But actually, this disadvantage evens things out in the end.
By which you mean?
I mean that there is the possibility
of Holo ripping up and tossing away the marriage certificate.
You have a copy too, right?
Even if you pay off her debt to me,
if Holo says no,
there is nothing you can do. That's a risk you have to bear.
Compared to that,
my slight disadvantage is nothing.
I don't think you have to worry about that.
You two seem to have had a big argument.
During our journey together,
Holo has cried in my arms three times.
When she is like that, she is quite adorable.
But unfortunately, she's so stubborn.
She tends to do and say things that are contrary to her true feelings.
What I want to say is...
I'll accept... I'll accept your offer.
I... I thought that
it would be too cruel to do something that would
end up robbing you of everything.
But if you insist, I will accept.
And I will rob you of your fortune
and everything you have!
So you'll agree to my offer?
Bring it on!
-Cheers! -Cheers!
This is some good beer!
This year was a good year for wheat, after all.
When it's a poor harvest,
we have to turn barley that was meant for beer into bread.
So we have to thank the god of harvest.
I guess you're right.
However, I have to talk to you
about something that might ruin the mood.
Will I profit from it?
Well, I don't know.
You might be able to profit from it, but that's not the aim.
-What do you mean? -People start purchasing wheat
around the time the festival ends, right?
That's right.
I want you to start a rumor.
I'm not going to agree to anything risky.
It may be risky if you say it,
but that's not the case if the kid is the one saying it, right?
-Go on. -When I give you the signal,
go to a certain place and say,
"The price of wheat might rise soon."
Are you trying to bring the price of that rock down with a rumor?
That's about it.
Many people who are buying and selling pyrite
have come to this town to sell something
and will buy something before they leave.
On their way out, their cargo will be
predominantly made up of wheat.
If a rumor spreads about the price of wheat rising,
they will frantically try to buy it before then.
Surely, they will all sell off the pyrite
that they obtained for extra pocket money.
If that happens, the price of pyrite will inevitably drop.
Is that what you're saying?
I would have never guessed that you were
such a simpleminded person.
That's not all.
What if a considerable amount of pyrite was sold off at the same time?
How much?
One thousand silver Trenni coins' worth.
A thousand coins? Are you insane?
Do you know how much you will lose if you do that?
I don't care if the price drops.
Huh? What are you saying?
As long as I get my hands on 500 silver coins' worth of pyrite,
I will not suffer any loss,
whether the price rises or falls.
Damn... You sold on margin, huh?
I combined selling on margin with standard business methods,
so now I won't suffer any loss at all,
whether the value of pyrite rises or drops.
I don't gain anything either, though.
Amati, on the other hand, will suffer a huge loss and maybe even bankruptcy.
You took advantage of his ignorance, huh?
No, he accepted while knowing.
I told him that much.
If you were able to persuade him to accept this challenge, that just means
you were one step ahead. What a dangerous man.
Well, is that all you want from me?
There's one more thing. I want you to buy up pyrite.
I thought you signed the contract because you already had a seller!
Unfortunately, I didn't have the time.
If I buy 500 silver coins' worth of pyrite
at the market after the sun rises,
the value of pyrite will spike.
I want to buy them up secretly, without affecting the market value.
That's why I want to rely on your connections as a merchant of this town.
I will have to pay in cash
but I'm willing to pay more than the market value.
If it's a bulk amount, I can even pay in gold Lumione coins.
I'll pay you a good amount for the trouble.
-No. -Great, well then...
I can't help you with that.
I'll pay you.
And I don't mean something piddly like a service fee.
You won't lose anything. It's easy money.
I won't lose anything?
Think about it.
I'm only asking you to buy up pyrite.
I'm not telling you to invest in it.
And of course, I'll pay in cash.
What can you possibly lose?
Lawrence,
at most, you can only pay ten Lumione, am I right?
That's more than enough, isn't it?
I'm not asking you to trek through steep mountains overnight
and bring me back a caravan's worth of pyrite all alone.
You're telling me to run around the market
and buy up pyrite, right?
-It's the same thing. -What about that is...
All I'm asking is for you to use
your connections to buy pyrite for me.
And I'm saying that it's the same thing, Lawrence.
The "risks" that you speak of are all those of a traveling merchant.
But I'm a merchant of this town, and this market
is my battlefield.
Pouncing on every chance to make a profit
the moment you hear about it isn't a virtue.
Town merchants would rather make a modest living in their own trade,
than make a fortune through a side job.
What would the people around me think
when they see me buying 500 silver coins' worth of pyrite?
They'd think I'm a good-for-nothing guy who's neglecting
my business and risking everything on a gamble.
I may be the owner,
but this stand isn't mine alone.
All of the people who I'm on good terms with,
my wife, my child,
and all my relatives...
All of their reputations are on the line.
Are you able to pay me enough to compensate for all of that?
My store may be small,
but the value of its name is surprisingly high.
If it gets damaged, it will cost more than
just ten or 20 gold coins to repair it.
That's how it is.
Sorry I can't help.
No, sorry for asking so much of you.
I don't blame you, considering who you're doing this for.
But do you have to go this far to stop Amati?
Your companion isn't going to be swayed that easily, right?
Even I can tell that much, and this was my first time seeing you two together.
Have more confidence.
She showed me a signed marriage certificate.
And of course, the other party is Amati.
If there was nothing to worry about, I'd have a little more confidence.
But there is something to worry about.
You never know what will happen, huh?
But you still have a sliver of hope, and that's why
you're running around, right?
So, do you have any other options?
I will try talking to Mr. Batos for now.
I see. You're planning on having him talk to that woman for you?
-"That woman"? -Huh?
Am I wrong? You met that chronicler, didn't you?
Yes, I met Ms. Diana.
What does that have to do with this?
Since you're an outsider,
there won't be a problem even if you make a deal with her.
What are you talking about?
That woman runs the northern district.
She's basically the gateway to all the other alchemists.
The reason why that many alchemists
are able to congregate despite being easy targets,
is because of her existence. That's our theory.
So?
Obviously, alchemists will have pyrite!
In order to do business in this town without
ruffling anyone's feathers, you can't get involved with those people.
Which means...
Their pyrite collection is untouched!
I'm happy that you came to me for help,
but this is all I can do for you.
No, without you, I would have missed a huge opportunity.
I know I refused to help you.
-But I'll still pray for your success. -It was a learning experience.
That makes it all worth it.
I can't openly help you,
but I can whisper a few details about people's financial situation to you.
Come by again later.
I can at least give you a list of possible sellers.
That'll be great.
When you make that face,
I can see why the girl would make such a bold move.
-What do you mean? -It's nothing.
If you're a merchant, just keep your mind focused on business.
I'm sure it will go well.
Good luck.
Bye!
Next time, "Cargo of Determination and Negotiation of Resolve."
Subtitle translation by: Kiko Morita