My 1999

"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 investments, 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 as an apprentice."

"Haha, it seems that I saw the right person. 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."

15% is a relatively safe threshold, any more will be a bit harsh.

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."

At the current stock prices of Apple and Amazon, with triple leverage and each holding 15% of the shares, only US$500 million would be enough.

The remaining Sohu and NetEase, with triple leverage, would not even need 20 million US dollars.

Why must leverage be used?

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 use as little money as possible to lock in the equity. When the shares of the latter two companies rise, he can deleverage at any selling point.

Xu Liang nodded, "I'll figure out how to invest."

After saying that, 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 they are still not complete, you can directly call the CEOs of the two companies to ask for them. If you can't get them, , hold the parties 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.

Take a guillotine of weeds growing in your company at any time to ensure your body's health.

"Is there 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 said nothing more.

He waved his hand.

"You go down and do your work first."

After Xia Changsheng nodded, he turned and left.

Xu Liang lay back on the chair, his eyes slightly closed, and his fingers tapped the table rhythmically.

Hongyan No. 1 and Hongyan No. 2 can invest a little more than US$1 billion at most.

There is still US$1.77 billion left on Hongyan's account.

Although he doesn't necessarily have to invest all of it, 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 great.

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 point is that the two companies are developing well. Even if Wall Street giants come forward, it is impossible to wipe out one-third of the market value of the two companies.

To take a step back, even if he really loses and needs to cover his position, he can calmly allocate funds.

Therefore, 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?" 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 on the market."

The most impressive thing about the domestic stock market is the liquor stocks, especially Moutai, which has a market capitalization of RMB 1 trillion comparable to that of Cosmos.

But just Moutai and Wuliangye are not enough and cannot absorb too much money.

It took almost ten years for liquor stocks to develop.

As the economy prospered, the consumer market for high-end liquor really took off.

"Except for liquor, it's the bank."

None of the five major banks are listed now, so that’s definitely not possible.

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 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.

Moreover, anti-globalization has become more serious twenty years later, and 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 targets are 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 and give it to me. It needs to be detailed."

"clear."

——

The Peninsula Hong Kong, Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong.

Xu Liang cut off a piece of beef and put it in his mouth. After tasting it for a while, he said: "This 'Gaddis French Restaurant' has been established for nearly half a century and has three Michelin stars, but it doesn't taste very good. "

Jiang Xiaoyang, who was opposite, cut off a piece of beef and put it elegantly into his mouth.

The red cherry lips were slightly pursed, and the chewing range was very small, reflecting the nobility of the upper class.

"French food should be eaten slowly. It's weird if it tastes good if you devour it like you do."

Xu Liang nodded, "You are right. But I will never be a gourmet in this life."

There was a pause.

"How is it? Have the Chen and Wang families let go?"

"After watching 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 been dragged on for so long, and it's time for something to come to an end."

"All right."

——

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 was about forty years old, wearing a black suit, short and fat, with a smile on his face, and he looked very friendly.

The one behind him 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 complimenting 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 any 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 disappeared.

Originally, he thought that at the age of thirty-two, he would create a fortune worth tens of millions, and that Guangming Glasses would be worth nearly a hundred million, making him one of the best among men.

But compared with Xu Liang, who has a net worth of billions of dollars at the age of twenty.

No.

There is absolutely no comparison.

"Please take a seat, 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?"

"I feel the same way as Brother Wang. Haha, almost the same."

Having said that, Xu Liang was keenly aware of the reservations in his words.

"It's like not letting go of the eagle when you see the rabbit." Xu Liang said.

My mind is spinning.

Xu Liang did not directly talk about the merger.

"Do you two know Bill Gates?"

"Of course, who doesn't know about 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 his 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 The family's main business, the technology industry, has excessive risk exposure. "

After a pause, Xu Liang continued with a smile, looking at the two people who were already listening in rapt attention.

"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 be three times what it is now.

The reduction cost him tens of billions of dollars in wealth.

Many people feel sorry for Bill Gates.

But they all ignored one thing. They looked at the established facts that had happened in the past eight years from the current perspective.

Anyone can comment on what has 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 returning to poverty and class decline. "