Chapter 291 Diversified Investment
“Okay, Lao Xia, when did you, a financial layman, know so many things?”
A smile appeared on Xia Changsheng’s old-fashioned face.
“In order to pursue my position, although I am not responsible for the company’s investment, I still need to know something about finance, so I signed up for a correspondence course in finance at the University of Hong Kong, and now I can barely count myself as an apprentice.”
"Haha, it seems I was right. I feel relieved to leave Hongyan in charge of you."
After some compliments.
“Just do what you said and buy the convertible bonds of Apple and Amazon. But it’s still the same as before, the equity plus convertible bonds cannot exceed 15% of Apple’s total equity.”
< br>15% is a relatively safe threshold, any more will be a bit glaring.
Xia Changsheng nodded, "Mr. Xu, if this is the case, there is a high probability that we will not be able to use up 1 billion US dollars."
With the current stock prices of Apple and Amazon, with triple leverage, each To hold 15% of the shares, only US$500 million is enough.
The remaining Sohu and NetEase, with three times the leverage, would not even need 20 million US dollars.
Why is leverage necessary?
The federal funds rate in the United States has been continuously lowered, and it has now exceeded 2%. Massive funds have entered the market, and loan interest rates are so low. It would be a fool not to seize loans to expand your investment income.
And he also wants to take advantage of the low stock prices of Amazon and Apple to lock in equity with as little money as possible. When the shares of the latter two companies rise, he can deleverage at any selling point.
Xu Liang nodded, "I will figure out a way to invest."
After finishing speaking, he handed over the financial reports of Jianlibao and New Dream that were placed on the table.
"Leave it to the audit department for detailed review."
Although Xu Liang trusted Qiao Yuhui and Teng Huaming, he could not trust the people below them.
"Mr. Xu, there is too little data. If it is just like this, it will be difficult to verify anything?" Xia Changsheng said.
“Don’t worry, I have asked their two companies to package and send all the detailed financial documents and income and expenditure statements here. If it is still not complete, you can call the CEOs of the two companies directly to ask for it. If it cannot be produced, the person concerned will be held responsible
If there is a problem with the review, please tell me as soon as possible. "
"Yes. ”
The audit department of Hongyan Fund is his guillotine independent of major companies.
Cut the weeds growing in his company at any time to ensure the health of the body .
“Any good news from the consulting department? "Xu Liang asked.
The reason why the consulting department was established was to collect investment targets for Hongyan, or collect detailed information about the investment companies he wanted, and provide an investment plan.
“The consulting department has just been established, and we haven’t found a suitable investment target yet.”
Xu Liang nodded and didn’t say much.
Waved his hand.
“Go down and do your work first.”
After Xia Changsheng nodded, he turned and left.
Xu Liang lay on his back on the chair, his eyes slightly closed, and his fingers tapping the table rhythmically.
The maximum investment in Hongyan No. 1 and Hongyan No. 2 is a little over 1 billion US dollars.
There is still US$1.77 billion left on Hongyan’s account.
Although he does not necessarily have to vote out all of them, he is not prepared to keep so much.
As for the investment risk, whether it is Hongyan No. 1 or Hongyan No. 2, the risk is not high.
As far as Hongyan No. 1 is concerned, whether it is Amazon or Apple, he is not the absolute majority shareholder. If you want to smash the market, you will definitely anger a lot of institutions.
The key is that the two companies are developing well. Even if Wall Street giants come forward, it is impossible to destroy one-third of the market value of the two companies.
Taking a step back, even if he really loses and needs to cover his position, he can calmly allocate funds.
So, the probability of safety is very high.
As for Hongyan No. 2, no one can stop the rising trend of real estate unless the country changes its policies.
"Where to invest it?" Xu Liang thought seriously.
He already has high-growth companies in his hands, so there is no point in continuing to invest in Internet companies.
The key is that Hongyan Fund is his family office. The investment direction should not only pursue high profits, but also spread risks as much as possible.
Real estate is one of them.
"Both Moutai and Wuliangye should be listed."
The most impressive thing about the domestic stock market is the liquor stocks, especially Moutai, with a market value of trillions comparable to that of the Universe Bank.
But Moutai and Wuliangye are not enough and cannot absorb too much money.
It was almost ten years later that liquor stocks developed.
As the economy prospers, the consumer market for high-end liquor really takes off.
"Except for liquor, it's banks."
The five major banks are not listed on the market now, so it definitely won't work.
What he wants is people's livelihood, Pudong Development Bank and Shenzhen Development Bank.
“Speaking of banks, I really should invest in one.” Xu Liang said.
The subprime mortgage crisis, the European debt crisis, and the subsequent three-year epidemic have caused too many bank failures around the world.
The money you put in it may be gone one day.
Silicon Valley Bank is the best example.
And twenty years later, anti-globalization has become more and more serious. Even Swiss banks have compromised under the coercion of the United States. Neutrality and security have become a complete joke.
For the safety of your own funds in the future, it is very necessary to control a bank.
After thinking about it, Xu Liang picked up the phone on the table and called Xia Changsheng.
"Mr. Xu?"
"The company's next investment target is the two liquor companies, China Moutai and Wuliangye. There are no share restrictions. We will acquire as many shares as possible without delisting." "Yes."
"Also, collect a piece of information about Hong Kong's banking industry for me, please give it in detail."
"Understood."
——
The Peninsula Hong Kong Hotel, Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong.
Xu Liang cut off a piece of beef and put it into his mouth. After tasting it for a moment, he said: "This 'Gaddis French Restaurant' has been established for nearly half a century and has three Michelin stars, but it doesn't It tastes so delicious.”
Jiang Xiaoyang on the opposite side cut off a piece of beef and put it into his mouth gracefully.
The red cherry lips are slightly pursed, and the chewing range is very small, reflecting the nobility of the upper class.
"French food should be eaten slowly. It's strange that it tastes delicious if you devour it like you do."
Xu Liang nodded, "You are right. But I have never been a gourmet in this life. ”
Paused.
"How about it? Have Chen and Wang relented?"
"After seeing Netcom's listing yesterday, I can see that I was very touched. But they haven't given me any news yet."
"You make an appointment with them for me and let's meet." Xu Liang said.
“You want to see them?”
“This matter has dragged on for so long, it’s time for a result.”
“Okay.”
——
The next day, the Chinese went to the Hanhua Capital conference room.
Under the guidance of Jiang Xiaoyang, two men walked in.
The man in front is about forty years old, wearing a black suit, short and fat, with a smile on his face, and he looks very friendly.
The one in the back is tall and thin, wearing gold-rimmed glasses, and looks a bit gentle.
"Mr. Xu, let me introduce you. This is Chen Huatao, the founder of Doctoral Glasses; this is Wang Haipeng, the founder of Guangming Glasses." Jiang Xiaoyang introduced.
Xu Liang smiled and stretched out his right hand.
"Mr. Chen, I've heard of you for a long time."
Chen Huatao, who was short and fat, was the first to hold Xu Liang's right hand with a flattering smile on his face.
"Mr. Xu is too polite. You are the famous one. In front of you, the richest man in the country and a technology giant, we are all ordinary people."
Xu Liang withdrew his right hand without leaving a trace. .
"Mr. Chen is overly complimentary." He turned to look at Wang Haipeng.
In his early thirties, he was in the prime of life. When facing Xu Liang's face, he was surprised and a little embarrassed.
"Mr. Wang, it's been a long time."
"You're welcome."
Looking at the unusually young man in front of him, the pride in Wang Haipeng's heart quickly fell away.
Originally, he thought that at the age of thirty-two, he would have a fortune worth tens of millions, and his Bright Glasses would be worth nearly a hundred million, making him one of the best among men.
But compared to Xu Liang, who has a net worth of billions of dollars at the age of twenty.
No.
There is no comparison at all.
"Please sit down, both of you."
The four of them sat down in the reception area next to them.
After the secretary served tea, Xu Liang smiled and said: "The day before yesterday, you two watched Netcom ring the bell to go public. How did you feel?"
Chen Huatao was an old fox, he smiled and didn't rush to speak. .
Wang Haipeng hesitated for a moment, "It's very shocking. I used to sit in a well and look at the sky."
Xu Liang smiled and nodded, then turned his eyes, "Mr. Chen, what about you?"
"Brother Wang and I feel the same way. Haha, almost the same."
Having said that, Xu Liang was keenly aware of the reservations in his words.
"This is like not letting go of the eagle when you see the rabbit." Xu Liang said.
My mind is turning.
Xu Liang did not directly talk about the merger.
"Do you two know Bill Gates?"
"Of course, who doesn't know the world's richest man and the founder of Microsoft?" Chen Huatao said with a smile.
“In 1994, Mr. Bill Gates hired investment elite Michael Larson as the head of the family trust, ‘Waterfall Investments’, and managed its asset wealth through it.
In order to prevent Gates’ wealth from being overly concentrated in Microsoft, Larson diversified his wealth and invested it in assets outside the technology industry. Most of the cash obtained from reducing his holdings of Microsoft stocks every quarter was transferred to waterfall investment management to avoid Excessive risk exposure to the family’s main technology industry.”
After a pause, Xu Liang continued with a smile as he looked at the two people who were already listening.
"In eight years, Bill Gates's stake in Microsoft has been reduced by half. Some people have calculated that if Bill Gates had not insisted on his stake in Microsoft, his net worth would have been three times what it is now.
The reduction has allowed He lost tens of billions of dollars in wealth.
Many people feel sorry for Bill Gates.
But they all ignore one thing. They look at the past eight years from the current perspective.
Everyone can comment on what has already happened.
But no one in the world can predict the future.
Therefore, diversified investment is the most reasonable way to ensure the inheritance of wealth and protect family property and entrepreneurial achievements.
After all, the survival cycle of a company is only 3.9 years, and the average survival cycle of top large companies is only 40 years. Therefore, company founders should be more concerned about realizing cash in a timely manner when the company is on the rise, diversifying investments, protecting existing wealth, and preventing the family from falling back into poverty and class decline. ”
(End of this chapter)