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Jun 11, 2010 7:09 PM

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Aug 2008
2085
I hope all goes well for Lawrence. It seems like such a risky business deal.
Jun 25, 2010 9:23 AM

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Dec 2009
3338
It is obvious that the little brat is gonna get his ass kicked . Horo was just depressed , she'll scream and turn the "marriage certificate" into ashes when she comes back to her normal self.
Aug 21, 2010 5:21 AM
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Sep 2009
180
holo... but there's no damn L in the japanese language ... RAGE..
anyway i suppose it is based in Europe and all. also pyrite XD I got some of that from a market when I was small it cost about 50p for a huge chunk XD
Oct 4, 2010 5:50 AM

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Sep 2008
1700
Good episode... Lots of talking about strategy and the like, but it wasn't hard to follow. Lawrence better be able to pull off something to keep from "losing"...

Still irritated about Horo! I'm kind of happy I didn't have to see her much in this episode - that probably would've been irritating, seeing as how much she's overreacting. It doesn't seem like she's just doing it as a trick to help Lawrence beat Amarty, so hopefully, at the end of all this, we won't just hear her say, "Oh, yeah, just kidding about everything! I was on your side all along, Lawrence, hoho~". ._.
Mar 26, 2011 9:29 AM

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Oct 2009
90
We need more ACTION here!
Apr 11, 2011 7:42 PM

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Sep 2010
9801
This episode really got me worked up
May 12, 2011 1:48 AM

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Dec 2009
2540
darkerealm said:
I hope all goes well for Lawrence. It seems like such a risky business deal.


This~

Jan 13, 2012 1:09 AM

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Dec 2010
4810
Nice episode, I've almost forgotten how smart Lawrence can be when it comes down to trading. Holo signed marriage, lolz. I can't wait for the next episode!

Forever said:
That was a nice episode with lots of strategy and gambling. Almost like watching Death Note or Kaiji.

This.

israfel070 said:
Mazui's timing on this episode is shit. The subs during the sell-on-credit scene were unwatchable.


ZetaZeta said:
I loved how Mazui translated the scolling "Do not distribute on the intarwebs, it's illegal."


AceSoldia said:
did he really know her town didn't exist since ep 1 season 1?..lawrence needed a lelouch level plan to get back into the game..and he did it..

You're making me watch Code Geass..
Feb 29, 2012 10:42 PM

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Sep 2011
10430
IT'S TIME TO DUELLLL!!!
Mar 22, 2012 11:14 PM

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May 2008
565
Hope Lawrence teaches that punk Amati a lesson. Lawrence and Holo have a great chemistry that should never be ripped apart.
May 6, 2012 9:27 AM

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Feb 2012
1918
lol, I fucking love this show. Faced with a situation similar to Lawrence's, a lesser man would've said to Amati, "I challenge you to a duel! -- pistols at dawn!"

While Lawrence, a real man, said "I challenge you to a duel! -- commodity market speculation at dawn!"
May 24, 2012 6:07 PM

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Mar 2012
2884
Hakuromatsu said:
lol, I fucking love this show. Faced with a situation similar to Lawrence's, a lesser man would've said to Amati, "I challenge you to a duel! -- pistols at dawn!"

While Lawrence, a real man, said "I challenge you to a duel! -- commodity market speculation at dawn!"


Lol. Lawrence is stepping his game up.
Aug 26, 2012 6:59 AM

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Nov 2011
1980
OMG! This is sooo intense! I didn't know Spice and Wolf could get this intense! I love it!

"I like to expose what people hide. I'm an intellectual rapist." - Furudo Erika
Sep 19, 2012 8:42 PM

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Jul 2012
346
The whole futures business thing was kind of confusing but I liked watching Amati and Lawrence go at it; all for Horo^^
Sep 28, 2012 6:53 AM

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May 2012
25828
Nice episode I wonder how things will turn out and what Holo will decide!
Feb 20, 2013 4:30 AM

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May 2012
1842
They actually say Horo in the Japanese version? That's just silly, her name is Holo xD
Reminds me of Hellsing where they say Arucado, instead of Alucard lol

Also, i'm loving these episodes where it's just Lawrence figuring out how to win Holo back! Even though the mathematics parts are kinda confusing, i'm with this storyline %100!
May 5, 2013 1:53 PM

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Jan 2013
11047
Intense episode.
Though, I don't like the round a bout way Lawrence is trying to win her back.
There needs to be a love confession.
May 15, 2013 5:01 AM

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Apr 2013
2282
Its nice to see Lawrence in a good mood again. And i like the store owned he is a good person.
Now the only thing left is to make a few deals and crush Amati. And i hope that Lawrence and Horo will make it up somehow. But i am sure they will.
May 15, 2013 3:17 PM

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Jan 2013
805
Yeaaa Lawrence you fight for Holo! He was *pissed* after reading that letter. And thank goodness that kiss didn't happen.
-Nothing can stay unchanged. Even so, can you still keep on loving this place?

-Be still my soul; when change and tears are past, all safe and blessed we shall meet at last.
Nov 11, 2013 9:08 PM

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Jun 2013
1303
The merchant talk confused me.
Jan 13, 2014 8:48 PM

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Aug 2013
4245
This was a really great episode.

It took me time to understand everything that happened in that episode, but now I'm pretty sure I understand Lawrence bet.

So Holo gave him a challenge. She gave him precious information by giving him Armathy financial status, but she signed at the same time the wedding contract. By that, she want to test him. To see were he's ready to go to get her.

Lawrence deal with Amarthy seem complicated but is simple in the end.
Here's how it goes for those who had trouble understanding it : Lawrence will receive 500 thorenis for the same value of pyrite of the day the deal was made. In the end, whatever happens, Lawrence will receive 500 thorenis. Why did he chose to sell him the value of 500 thorenis in pyrite? Because it was the best Armathy could buy and he knew it because of the information Holo tricked out of him.

But where it get interresting is about the conclusion of the deal. Let's use fictionnal number : the day the deal was made, 1g of pyrite valued 100 thorenis, so Lawrence must give him the next day 5g of pyrite. Now there's three possibility : the price raise up, the price stay the same or the price drop. If for exemple, the price of the pyrite the next day was 1g for 150 thorenis, Lawrence would have made a loss of 250 thorenis since he got 500 thorenis for something that valued now 750 thorenis. So what Lawrence is aiming at is droping the pyrite price.

About the deal with Mark, I had trouble understanding why he refused, but rethinking about it, he had good reason. As a merchant of the city, people seeing him gambling his money on an easy commerce that isn't his trading type would bring him bad opinion. Since trading at that time was all based on the relation, doing that would ruin all those connection he builded up during all those years. But he did give him a crucial information about the alchemist. And he will in the end circulate that rumor. If all goes well, the price of the pyrite should indeed fall and he would win his bet.

It's a really risky bet all based on the action of the other merchant, but if it work, he will have won his duel against Amarthy. It's also what Holo would have wanted him to do.

Anyway, this episode was kinda complicate, but really hyped about the next episode.
«Time is passing so quickly. Right now, I feel like complaining to Einstein. Whether time is slow or fast depends on perception. Relativity theory is so romantic. And so sad.»
- Kurisu Makise a.k.a. The Zombie
Feb 27, 2014 3:46 AM

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Aug 2012
1098
this market battle was way more intense than most of those physical battles from shounen manga lol.


and still waiting patiently for a 3rd season of Spice & Wolf :'|
Mar 21, 2014 6:36 AM

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Dec 2012
16125
Considering how little I understand about economics and the market, I'm glad that I've been able to keep up so far. This duel of wits is really interesting and reminds me why I enjoyed the first season so much. Especially liked the revelation about the alchemists, I wonder how this is going to turn out. I think Horo signed the marriage contract to test Lawrence's resolve and how serious he really is about continuing the journey with her.
Jun 3, 2014 4:47 PM

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Apr 2012
4228
This episode makes me proud to be the son of a man who owns a company that trades in futures market
My Reviews and Rants: http://bunny1ov3r.wordpress.com/

痛就是爱
Jul 21, 2014 10:43 PM

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Apr 2014
688
I really, really love this anime's dub. That speech Lawrence's shopkeeper friend gave was moving and intense!

The OP & ED, too, are growing on me, length by length. ♪
Nov 26, 2014 2:20 PM

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Nov 2011
9206
Certainly I'm not the only one who felt that Holo betrayed Lawrence in this episode.

I understand that she's challenging him; however, I don't think relationships are something that should be challenged deliberately. It's one thing if an outside difficulty arises (such as in season one), but to essentially say "prove to me that you love me"... I just don't agree with that. They shouldn't have to/need to "prove" it. You shouldn't try to force someone to fight for you. That's the same as pushing them away, as far as I'm concerned.

Major respect to Lawrence for taking it in stride. His role with Holo has reversed, with him being the more mature one in this situation.

The economics portion of the show is as interesting (and accurate) as usual.
Nov 30, 2014 9:50 PM
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Jun 2014
29
minouneetzoe said:
This was a really great episode.

It took me time to understand everything that happened in that episode, but now I'm pretty sure I understand Lawrence bet.

So Holo gave him a challenge. She gave him precious information by giving him Armathy financial status, but she signed at the same time the wedding contract. By that, she want to test him. To see were he's ready to go to get her.

Lawrence deal with Amarthy seem complicated but is simple in the end.
Here's how it goes for those who had trouble understanding it : Lawrence will receive 500 thorenis for the same value of pyrite of the day the deal was made. In the end, whatever happens, Lawrence will receive 500 thorenis. Why did he chose to sell him the value of 500 thorenis in pyrite? Because it was the best Armathy could buy and he knew it because of the information Holo tricked out of him.

But where it get interresting is about the conclusion of the deal. Let's use fictionnal number : the day the deal was made, 1g of pyrite valued 100 thorenis, so Lawrence must give him the next day 5g of pyrite. Now there's three possibility : the price raise up, the price stay the same or the price drop. If for exemple, the price of the pyrite the next day was 1g for 150 thorenis, Lawrence would have made a loss of 250 thorenis since he got 500 thorenis for something that valued now 750 thorenis. So what Lawrence is aiming at is droping the pyrite price.

About the deal with Mark, I had trouble understanding why he refused, but rethinking about it, he had good reason. As a merchant of the city, people seeing him gambling his money on an easy commerce that isn't his trading type would bring him bad opinion. Since trading at that time was all based on the relation, doing that would ruin all those connection he builded up during all those years. But he did give him a crucial information about the alchemist. And he will in the end circulate that rumor. If all goes well, the price of the pyrite should indeed fall and he would win his bet.

It's a really risky bet all based on the action of the other merchant, but if it work, he will have won his duel against Amarthy. It's also what Holo would have wanted him to do.

Anyway, this episode was kinda complicate, but really hyped about the next episode.


Actually, I do believe the currency they were dealing with was Trelli silver coins. You're absolutely on point though, otherwise. The deal with Mark can be summarized with one word: Honor. Mark's honor as a town merchant against the honor that Lawrence is keeping by trying to "win" back Holo.

I think that Holo actually helped Lawrence in a way - by telling him Amanty's assets. That's a huge plus for Lawrence. Not giving up hope on Holo just yet.

This was a pretty complex episode, though, with subs - I had to rewind a few times, even with a small economics background.
Dec 1, 2014 11:32 PM

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Sep 2014
1641
The pace has slowed down after that outburst by Holo last EP.. I hope things will work out this time for Lawrence..

Choroshi said:
this market battle was way more intense than most of those physical battles from shounen manga lol.

Lol..
Mar 15, 2015 8:53 AM

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Mar 2012
5785
TripleSRank said:
Certainly I'm not the only one who felt that Holo betrayed Lawrence in this episode.

I understand that she's challenging him; however, I don't think relationships are something that should be challenged deliberately. It's one thing if an outside difficulty arises (such as in season one), but to essentially say "prove to me that you love me"... I just don't agree with that. They shouldn't have to/need to "prove" it. You shouldn't try to force someone to fight for you. That's the same as pushing them away, as far as I'm concerned.

Major respect to Lawrence for taking it in stride. His role with Holo has reversed, with him being the more mature one in this situation.

The economics portion of the show is as interesting (and accurate) as usual.

Yea, I've never been a fan of times when the MC's love interest decides to test them like this. Find it more annoying than anything.

Lawrence should just win the market battle and tell Holo to take a hike with her broke white knight wannabe lol.
May 3, 2015 1:26 PM
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Nov 2014
26586
Amarty has a face that I wanted to punch so bad lol. ( blonde brat bastard ) Hopefully Lawrence beat his ass in that duel.
May 8, 2015 9:21 AM

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Feb 2013
620
Jeez Lawrence comes up with some of the craziest plans, crashing the entire market on pyrite in just one night is nuts. I really hope he can pull it off and get Holo to forgive him.
Jan 4, 2016 4:40 PM
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Jan 2016
57
Great episode!!!
Aug 2, 2016 4:24 AM

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Jul 2013
1171
I really hope everything goes according to plan this time but judging from next episode's preview, that doesn't seem to be the case T.T
Feb 10, 2017 4:23 PM

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Sep 2010
236
This ep was a bit slower paced. Alright, let's see how this goes for Lawrence.
Feb 14, 2019 3:22 PM

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Nov 2016
31873
My opinion is kinda divided when it comes to Holos behaviour. It's interesting in a way, but I can't approve it on the other hand.

One Piece episode 914 & 915 & 1027 were a mistake and 957 brought the salvation - FMmatron


Jul 6, 2019 4:03 AM

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Sep 2012
6746
FMmatron said:
My opinion is kinda divided when it comes to Holos behaviour. It's interesting in a way, but I can't approve it on the other hand.


she should know that he has always her best interests in heart

he fault was only not accsepting her offer to become her mate 😁


Oct 5, 2019 5:29 AM

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Apr 2013
36979
Hm I got a feeling that the boy which that trader friend employs is a spy for that little blonde prick and he'll know what Lawrence has planned. Guess everything won't go as smoothly as he imagines.
Nov 6, 2019 6:25 AM
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Jul 2016
74
Dammit Lawrence! You better not lose her!
Dec 4, 2019 6:51 PM
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Apr 2016
13217
Aww, Holo really is going far it seems. Interesting development.
Aug 27, 2020 8:02 AM

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Apr 2020
93
Man, just who the hell signs the marriage contract before the condition was fulfilled? Does Holo hold such a big grudge against Lawrence just because he didn't tell her about her village's destruction(which is not even 100% proven). Or does she want to encourage Craft to fight for her or something? I hope it's the latter.

Also, looks like Lawrence's got a plan. If it succeedes however, it'd be funny for all the merchants in town to find out that some dude singlehandedly crushed a pyrite market just to protect his waifu from marrying some rich kid.
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Jan 26, 2021 4:18 AM

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Jul 2017
6750
Pretty good episode, in fact a lot better than the previous one.

After Holo stormed out on Lawrence after knowing the truth about Yoitsu and him hiding it from her, she went to meet Amarti and revealed about how she may consider going with him instead of Lawrence, even signing the contract between them so that once the debt is cleared, Holo agrees to marry Amarti. But at the same time, she sneaks out to send Lawrence details of Amarti's assets and the contract too, basically challenging him to rescue her before he is able to pay off the debt using knowledge of Amarti's assets and figuring out methods on how to combat the market of pyrite through those assets details. Holo's testing him to see if he really does view her as important to go through so much for, and not just him messing with her like she's prey, or if she really is better off somewhere else. It's all up to Lawrence to figure out how to exactly get the job done on his end if he wants to travel with Holo again, after his foolish mistakes and cocky attitude got the better of him, and after his negotiations with Marc failed (understandably so given how he needs his reputation to be as good as possible due to being a town merchant who can't move conveniently), he turns to the alchemists to see if he can purchase a large amount of pyrite from them.
Apr 1, 2021 10:58 AM

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Feb 2019
2631
I'm struggling with all the trade talk... I didn't understand exactly how Lawrence could make a profit lol

Yet another cliffhanger ending. This is killing me! I want them to make up already...
Jul 15, 2021 6:11 AM

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Nov 2014
4054
Him saying over that there's no risk over and over, yet he's basically sold more than 100% of his pyrite betting that the price will crash.

This just a red flag waiting to happen. I'm at the edge of my seat.
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Oct 9, 2022 3:04 PM
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Aug 2020
183
Up until this arc, I really liked the anime. The only thing is that I don't know what to think about Holo. Only I don't know what to think of Holo at the moment. She's scared, sad and angry. I get that, but that's no excuse to hurt someone like that. She gives him an ultimatum and if he doesn't she marries someone else? People who really love each other don't do that to each other.
If I were Lawrence, I would make as much profit from the deal as possible and then leave them both behind. He really deserves better. What do you think their future's gonna be? Every time Holo gets mad, she runs off with someone to watch Lawrence suffer. Not a chance.
Sep 13, 2023 5:45 AM

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Dec 2022
5301
Such a market for pyrite. Merchants should start peddling snake oil at this rate.


╔⏤═⏤╝ ╚⏤═⏤╗
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Oct 10, 2023 6:45 PM

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Oct 2018
11
Praying lawrence doesn't get screwed over yet again, because it seems like the author likes using this formula alot, curious to see what's Holo really scheming
Nov 2, 2023 1:28 AM

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Oct 2020
573
I feel like they're seriously overcomplicating this whole reconciliation quest

I know the show is focused on economics and is trying to show us that all Lawrence knows is the world of trade and business so this is probably the only way he knows how to show Holo he cares, but I'm sure I'm not the only one who feels that a simple conversation would also work

I guess it's a creative work around if nothing else
Feb 18, 2:34 PM

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Jun 2015
3763
My boy Lawrence has so little confidence in himself.
Apr 15, 3:58 PM

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Jul 2023
1600
The duel is set. Anyway, it's true that it's our subjective preferences that determine value, which explains bubbles. But it is still fucked up, if you think about it, that rumours can affect valuations than simply supply and demand.

I hope Laurence and Holo make up by the end of this arc.
Apr 24, 1:37 AM
scientia exitus

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Mar 2020
5995
Heck yeah, pyrite, wheat, something something market value, marriage contracts, duel, something or other, market crash, let's gooooo


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