"Madoff model?"

"Madoff, um... is a veteran of Wall Street. He once participated in the destruction of the old financial family Henry brothers, and also single-handedly led Nasdaq to become a world-class trading center that rivals the New York Stock Exchange. After retirement, he began to concentrate on

Private equity. If you are new to the industry, it’s not surprising if you haven’t heard of it. Because his fund is extremely confidential, outsiders don’t know about it at all.”

Zhou Buqi asked: "What mode is he in?"

Rick Efron said: "It's similar to your method. It's only open to specific groups of people, social elites, celebrities and dignitaries, royal families, etc. If you want to buy his fund, you can't just have money, you must have enough influence.

He was introduced by an intermediary. It is said that the amount he has raised has exceeded 50 billion US dollars."

"$50 billion?"

Zhou Buqi opened his eyes wide and was quite surprised. At present, the world has not released a lot of money, U.S. debt has not been issued excessively, and the currency has not depreciated excessively.

The world's top private equity firms, Black Rock, Blackstone, and KKR, only have a scale of US$20 billion to US$30 billion. This is already the largest private equity publicly available.

Unexpectedly, what was made public was just the tip of the iceberg, and the real bosses did not appear in public at all.

Zhou Buqi was a little excited.

Because he also wants to hide behind the scenes and make a fortune quietly.

Seeing that he was very interested, Rick Efron smiled and said: "After you have been busy for a while, I can introduce you to him. He is a wise old man. His customers... are a bit like a threshold.

It's a very high-level club, and many people regard it as a status symbol to be able to hand over money to him for operation."

Zhou Buqi said: "What about the rate of return? How is it?"

"He is Madoff!" Rick Efron paused, as if he was afraid of offending the young man. "His promises are more trustworthy than your terms. I'm sorry, I can only tell the truth."

Zhou Buqi accepted it calmly and said with a smile: "That's right, I'm a newcomer."

Rick Efron said: "His private placement does not have a loss compensation clause, but he promised that his investment will not lose money, so it will definitely not lose money; his fund does not have a guaranteed return clause, but he promised that there will be an 8% return every year.

If the income is around 10%, we will definitely be able to meet the target.”

"Did it?"

"certainly."

"How many years?"

"It lasted longer than Buffett, more than 40 years." Rick Efron thought for a moment, "I remember the lowest year, the annualized return was 7.3%. Well, it was during the bubble crisis, the economic crisis

Well. But the highest annual return is 12%. The emphasis is on stability and low risk."

"It's amazing!"

Zhou Buqi was very surprised.

During the bubble crisis, can we still have an annualized return of 7.3%?

This is awesome enough!

Even Buffett will suffer losses in such a black swan year. He suffered losses in the bubble crisis that year and the subprime mortgage crisis this year.

This Madoff is so fierce!

Rick Efron said confidently: "In comparison, your terms are better. If there are high-yield, low-risk projects, it will definitely trigger a rush to buy. Such as what you did.

I believe that even Madoff's customers may withdraw their money and invest in you after hearing about your project."

Zhou Buqi smiled and said, "This will trouble you."

"It should be." Rick Efron waved his hand. Goldman Sachs is not only the custodian, but also the distributor of the fund. They can get a certain percentage of the subscription fee. Of course they have to help Zhou Buqi sell the goods, "That's right.

, you want to invest in high technology, right?"

Zhou Buqi smiled and said, "Yes."

Rick Efron said: "This direction is very good. The high-tech industry will see huge development in the next few years. This is your strength, just like Bill Gates."

Zhou Buqi raised his eyebrows, "Bill Gates?"

"You haven't discussed asset management with him?"

"No."

"Then I suggest you really communicate with him more when you have time. In recent years, his wealth has grown faster than Buffett, which shows that his return on investment is higher than Buffett."

Zhou Buqi nodded, "Yeah, everyone can only make money within the scope of their own knowledge. Buffett doesn't understand technology, so he doesn't dare to bet on technology companies. Bill Gates does this,

He knows which technology companies have potential."

Rick Efron sighed, "Yes, this is the biggest problem for Wall Street investors. The technology industry is too risky. Unless you have a special understanding of this industry, you dare to buy stocks of some technology companies. Economy

Investors with backgrounds in finance and accounting simply cannot do this. Bill Gates only focuses on managing his personal wealth. If he does private equity, it will definitely be the largest private equity fund in the world."

Zhou Buqi knows this direction very well.

Not only in Silicon Valley, but also in China.

Investors don’t understand the technology industry, so what should we do with investments in the technology industry? The solution is for the investment community to go to the technology industry to poach people, and poach some of the best people in the technology industry to make investments. Because they understand the technology industry, they dare to invest in the technology industry.

Typical representatives are Peter Thiel, who was born in Silicon Valley and is known as the "Gangster Godfather" of Paypal; domestically, Shen Nanpeng is the founder of Ctrip and later founded Sequoia China.

However, there is another problem here.

Even the top technology tycoons often do not end up in the investment circle. They all have their own missions and pursuits in this industry. Only those who are not very happy in this industry will jump to the investment circle. Peter Ti

I was kicked out by Paypal, and Shen Nanpeng was kicked out by Ctrip. They are both very good. Most people who switch jobs from the technology circle to the investment circle actually don’t know much about the technology circle, and they are all losers in the technology circle.

.

Zhou Buqi is a special case. He is very successful in the technology circle. Success means having a deep understanding of the industry. His resume is there. Everyone believes in him when he invests in technology companies.

If it were any other investor who started a private equity fund and wanted to invest in high technology... the most would be to fool some ordinary people's wallets, and the powerful would ignore it. Only those who have reached the level of Zhou Buqi are qualified to empty their wallets.

wallet.

Next, Rick Efron and his assistant briefly talked about the gameplay of private equity.

Private equity in the United States is not the same thing as private equity in China.

Because private equity is a black-box operation with too many gray areas, domestic control is too strict. The financial market in the United States is very open, and all hedge funds are private equity, so the operating methods are very flexible.

For example, how can we guarantee a 20% annualized return? How can we ensure that fund managers can meet the standards every year and enjoy profit sharing every year?

In addition to choosing high-quality investment targets, the most important method is to keep accounts.

For example, if this year's annualized income is 28%, you can get profit sharing; but next year's economic situation is very poor, and the annualized income is expected to be only 15%, so you can't get profit sharing. What should you do? Answer: Black-box operation.

I borrowed a sum of money this year and counted it as an expense.

Reduce this year's annualized income to 21%. Take this money back next year and count it as income. It is equivalent to transferring 7% of this year's income to next year's income account, and next year's annualized income will become

At 22%, the fund manager can share the profits.

To put it bluntly, it is a scam for investors.

Just routine operations on Wall Street.

This year's financial tsunami has made many investors realize that Wall Street is a cannibalistic side, and they have all withdrawn their capital. Since then, in order to restore its reputation and the trust of investors, Wall Street has offered a series of preferential, friendly and beneficial measures for investors.

conditions, and then the funds were really cheated back.

In particular, the conditions offered by the famous Black Rock Group are too good and attractive. The conditions of many of its funds are better than the "three red lines" offered by Zhou Buqi. More than ten years later, thousands of funds under the Black Rock Group

It is a single fund with assets of nearly 10 trillion U.S. dollars, which is more powerful than a country’s foreign exchange administration.

But the nature of Wall Street cannot be changed.

What investment experts earn is commission. They must make their own money first, and then the interests of investors.

Zhou Buqi is not interested in this set.

Totally unnecessary.

When Buffett invests in traditional industries, the average annual return can reach 25%. Only 30%-40% of Bill Gates' assets are invested in the technology industry, even if 10% of the total wealth is deducted every year for charity, wealth

The growth rate is still faster than Buffett. It can be seen that the growth rate of the technology industry far exceeds that of traditional industries.

Zhou Buqi will invest 100% of the funds raised in the technology industry and select the best technology companies. An annualized return of 20% will not pose any difficulty or risk to him.

You can't predict things on your own. You're not as good as Bill Gates.

…

The overall situation has been decided.

On November 1, a private equity capital called "plutofund" was established, namely Pluto Capital. Under the operation of Goldman Sachs, it began to formally raise funds.

Fundraising amount: US$10 billion

Closing period: 5 years

Subscription fee: 1.5%

Management fee: 2%

Custody fee: 0.45%

Redemption fee: 1.5%
To be continued...