Chen Ran seemed to understand what Zhou Buqi meant, and said tentatively: "Mr. Zhou, you...you mean...you don't want to increase the guaranteed annualized return to 25%, do you? Meet Buffett's standards?"

Zhou Buqi seemed to be hesitating.

Chen Ran breathed a sigh of relief.

Fortunately, this young boss is not that evil.

Unexpectedly, the next sentence made her collapse immediately.

Zhou Bu hesitated and said: "Is the guaranteed annualized return of 25% too low? My personal requirements should be higher than Buffett's... hmm? Why are you opening your eyes so wide?"

Chen Ran was going crazy, "Xiao Zhou, let's talk about business, don't joke."

Zhou Buqi said seriously: "Do you think I'm joking?"

Chen Ran looked at him blankly for a long time before he couldn't help but ask: "Mr. Zhou, what investment strategy do you have?"

Zhou Buqi said: "My investment strategy is my understanding of the technology industry."

"No more?"

"Isn't this enough?"

"This is too exaggerated."

Chen Ran shook his head, thinking this was ridiculous.

She has served the rich in the past few years and has seen too many similar things. For the rich, let alone a 25% annualized rate of return, it would be a blessing to have a stable income of 10% every year.

The wealthy class is different from the ordinary class.

If you are an ordinary person and have 100,000 US dollars in your account, investment operations will be very easy. No matter what you do, you can move in and out quickly. The less funds, the easier it is to operate.

But when the amount of funds reaches a certain scale, the level of investors will be truly tested. When the funds are large, it is impossible to move in and out quickly.

For example, in this case of Netflix, if you just buy 100,000 US dollars of stock, it would be really easy. It can be done in half an hour. After buying, just hold the shares and wait for them to rise. But if you buy 400 million US dollars,

The operation of stocks is extremely complicated. The stocks continue to grow, and the cost of buying them has greatly increased. This is just buying, and it will be more troublesome to exit in the future.

The private equity funds Boss Zhou wants to raise must be large in scale, let alone billions of dollars. With such a large amount of funds, no matter what you invest, it will be very complicated. Do you really think you are Buffett? In this year's situation, Buffett will also lose money.

Already.

Zhou Buqi smiled and said: "I am doing private equity, so I don't need to explain my investment strategy to investors too much, right?"

Chen Ran nodded lightly, "No need to explain, but...but people invest real money. If they don't have a convincing enough investment strategy, how can they invest the money?"

Zhou Buqi said: "Everyone in the world is interested in profit, how can it not be easy to raise funds? Ponzi schemes are popular all over the world, and they are nothing more than the promise of high enough returns."

Chen Ran twitched his lips and whispered: "Don't talk about 25% annualized return. Even if you only promise 15% annualized return, you can beat all the private equity funds in the world. Such a high rate of return is already

It’s no longer a Ponzi scheme.”

Zhou Buqi was very happy, "Let's make a compromise, 20% annualized return! If the annualized return is less than 20%, not only will I not want profit dividends, I won't even charge fund management fees."

Those who do private equity make more money than those who do public equity.

The main reason is that private equity funds have profit-sharing clauses, while public funds only have fixed income such as management fees and custody fees. Many fund managers start with public funds and become well-known in the public equity industry. They are famous and have big clients.

Then transition to private equity.

This condition proposed by Zhou Buqi is extremely strange.

The annualized return is 20%... Theoretically, it can be achieved in occasional years, but it is impossible in most years. He even promised that if the guaranteed return is not reached, the management fee will be refunded... For most investors

Said, this is simply more cost-effective than investing in public funds, and it is a huge inducement.

Chen Ran was already going crazy, "Boss Zhou, you can't do this. You can't make any money at all."

Zhou Buqi waved his hand and said decisively: "Sister Chen, you can help me with the execution. As for the strategic plan, you can't keep up with my thinking. I said that I am a value investor just like Buffett."

Stickers. The difference is that Buffett works in traditional industries, while I focus on the technology field."

"Value investing?" Chen Ran almost fainted and was about to have a heart attack. "How can anyone do value investing in the technology industry?"

Zhou Buqi raised his eyebrows, "What's going on?"

Chen Randao: "The technology industry is the riskiest industry. There are at least hundreds of capital funds on Wall Street claiming to be doing value investing. They all focus on traditional industries and supplement the technology industry. The essence of value investing is long-term investment. Which technology companies?

What vitality is there?

?Back then, Wang An, Compaq, and Xerox were the best technology companies in the world. Didn’t they just collapse? Now, aren’t Sony, Panasonic, Philips, Nokia, and Motorola about to be doomed? There are several companies in the world.

Can the lifespan of a technology company exceed 30 years?”

Under normal circumstances, only speculators play in technology, while value investment adherents play in traditional industries. Buffett later bought Apple for two main reasons - first, Apple's R&D expenses are controllable, and there is no bottom line.

Do research and development; secondly, the commission system of the Apple Store has transformed into a service-oriented company.

Zhou Buqi understands this truth very well.

Yahoo, once the number one in Silicon Valley, was soon over; Founder, once the number one in the country, went bankrupt even if it said it was bankrupt. More than ten years later, domestic Internet companies are lining up to be beaten, Huawei is suppressed by foreign countries, Lenovo is suppressed by their own country, Xiaomi

There have been scandals overseas, and ZTE is gradually losing its overseas business... The entire industry is in depression, and no one can live a stable life.

The risks in this business are too great.

This is true in China, and it is the same in the United States. The authorities are clamoring every day to impose additional taxes on high-tech companies. Netflix has also been sued by American telecommunications companies, believing that they take up too much data. Netflix is ​​required to pay traffic fees,

You have to pay an additional fee. Europe is constantly issuing fines, and the United States is also constantly undergoing antitrust investigations, demanding that technology giants be broken up...

Buffett's investment principles are correct and follow the same logic as Lin Yuan, a domestic private equity tycoon.

But!

Zhou Buqi is different!

He was foresight!

At least in the next 10-15 years, there will be no problems with the high-tech companies he is interested in. Individual companies like Nvidia, Netflix, Google, Apple, Penguin, Blizzard and other companies may even bring dozens of times in returns in the future.

.

At least during this time, Zhou Buqi can take high risks.

At most, in more than ten years, the foresight will fail, and Mr. Zhou Buqi, the world-famous financier who has become famous, can retire and stop engaging in private equity. Or he can adjust his investment strategy and stop making all kinds of exaggerated investment return promises.

, you can calmly withdraw your troops with gold.

"So, no one else can, only I can." Zhou Buqi smiled, full of confidence, "This is what I do, and my understanding of the technology industry is far better than others. I know which company

If there is a future, which company will be doomed."

"this……"

Chen Ran looked suspicious, feeling that this young man was too confident.

Zhou Buqi said calmly: "Ms. Chen Ran, what I need is not questioning, but execution. If you lack trust in me, how can you go outside to attract more investors?"

Chen Ran quickly said: "No, I just have some questions."

Zhou Buqi said: "There is no need to have any doubts. Just do things according to my requirements. That's it. My private equity fund will promise an annualized return of 20% every year. If it can't be done, there will be no profit dividends."

, the management fee will be refunded!”

Chen Ran took a deep breath.

Don't know what to say.

This young man is too stubborn.

Seeing that she was convinced, Zhou Buqi smiled and said, "Sister Chen, you have to have confidence in me. Besides, the closing period of private equity funds is not very long."

"Well, if it is a long-term value investment, the closing period is usually 1-5 years, or even 10 years."

"Then it will be three years, and the settlement will be settled in three years."

Zhou Buqi was also afraid that he would not get the commission, so this arrangement was foolproof.

Settlement occurs every three years, which means that as long as the return rate reaches 60% after three years, it will meet the annualized return requirement of 20%. The longer the time line is, the smaller the risk will be for Zhou Buqi.

Chen Ran sighed and had a headache.

3 years?

Is it really possible?

After 3 years, can the rate of return reach 60%?

The current financial crisis is so serious, and Silicon Valley has the highest unemployment rate in the United States, with many hidden dangers. Three years from now... maybe giants like Microsoft and IBM will go bankrupt.

Who can say for sure what will happen in the future?

Unexpectedly, Zhou Buqi continued to intensify his efforts and said: "I said, if I want to do it, I must build the best and largest private equity fund in the world. In addition to promising a 20% guaranteed annualized return, I must also

Add a loss compensation clause.”

"What terms?" Chen Ran didn't respond.

Zhou Buqi said: "Investors give their money to me in the hope of making money. If it cannot make money for investors, it is like a crime. Therefore, we also need to have a mechanism to ensure that investors' money will not suffer losses.

I can't eat people without spitting out their bones like Wall Street. My principle is win-win and I want to help every investor."

Chen Ran was numb, "What does this mean?"

Zhou Buqi said calmly: "Investment is risky, and you need to be cautious when entering the market. But here, investment must be risk-free! Once my investment suffers a loss, I will pay out of my own pocket to compensate for the loss to investors. In my case

Investment, at best, is capital-guaranteed, and there is never the risk of losing money!”

"This won't work!"

Chen Ran had been lectured by him several times, but when he heard this, he couldn't help but feel offended again.

This is ridiculous!

Is there any risk in investing?

Only scammers can promise with confidence that they can make guaranteed profits without losing any money. Once they lose money, they use their own money to compensate for the losses to investors? There is no such truth in the world!

But look at Boss Zhou's state and expression...

All right!
Chapter completed!