Chapter 1216 There is no such reason in the whole world

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

Zhou Buqi seemed to be hesitating.

Chen Ran breathed a sigh of relief.

Fortunately, this young big boss is not so evil.

Unexpectedly, the next sentence made her collapse directly.

Zhou Buqi said in embarrassment: "Is the guaranteed annual return of 25% too low? My personal requirements should be higher than Buffett's... eh? What are you doing with your eyes so wide?"

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

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

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

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

"Gone?"

"Is that not enough?"

"It's an exaggeration."

Chen Ran shook his head, thinking it 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 thankful to have a stable 10% annual rate of return.

The wealthy class is different from the ordinary class.

If it is an ordinary person with $100,000 in the account, the investment operation will be very easy, no matter what you do, you can quickly enter and exit quickly. The less capital, the easier it is to operate.

But when the amount of funds reaches a certain scale, it is time to truly test the level of investors. If the funds are large, there is no way to fast in and fast out.

For example, in the case of Netflix this time, if it was just buying $100,000 of stock, it would be really easy, and it could be done in half an hour. Just hold the stock and wait for it to rise after buying. However, buying 400 million US dollars of stocks is extremely complicated to operate. The stocks have continued to grow, and the cost of buying has greatly increased. This is just buying, and it will be more troublesome when you exit in the future.

Boss Zhou's private equity fund must be very large, 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 suffer losses.

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

Chen Ran nodded lightly, "There is no need to explain, but...but people invest in real money, if they don't have a convincing investment strategy, how can they pay?"

Zhou Buqi said: "Everything in the world is for profit, so it is not easy to raise funds? Ponzi schemes are popular all over the world, nothing more than promises to give a high enough return."

Chen Ran twitched his lips, and said in a low voice, "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, already Step aside from a Ponzi scheme."

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

Private placements make more money than public placements.

The main reason is that private equity funds have profit and dividend clauses, while public equity funds only have fixed income such as management fees and custody fees. Many fund managers start with public funds, and after becoming well-known in the public fund industry, having a reputation and big clients, they switch to private funds.

The condition that Zhou Buqi offered was extremely strange.

An annualized return of 20%... Theoretically, it can be achieved in occasional years, but it is impossible in most years. He even promised to return the management fee if the guaranteed return is not reached... For the vast majority of investors, this is simply more cost-effective than investing in public funds, and it is a huge lure.

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

Zhou Buqi waved his hand and said decisively: "Sister Chen, help me with the implementation matters, and strategic planning, you can't keep up with my thinking. I said that I am like Buffett, and I am a value investor. A stickler. The difference is that Buffett is in the traditional industry, and I focus on the technology field.”

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

Zhou Buqi raised his eyebrows, "What's the matter?"

Chen Randao: "The technology industry is the industry with the highest risk. There are at least hundreds of capital funds on Wall Street claiming to be doing value investing, all of which are based on traditional industries and supplemented by technology industries. The essence of value investing is long-term investment. Where are technology companies? What kind of vitality does it have? Wang An, Compaq, and Xerox were the best technology companies in the world back then. Didn’t they just collapse? Now Sony, Panasonic, Philips, Nokia, and Motorola are coming to an end? The whole world How many technology companies can live longer than 30 years?"

Under normal circumstances, only speculators will play technology, and those who stick to value investing are playing traditional industries. Buffett later bought Apple for two main reasons. First, Apple’s research and development expenses are controllable, and there is no bottom line for research and development. Second, the commission system of the Apple Store has been transformed into a service-oriented company.

Zhou Buqi understood this truth too well.

Yahoo, which used to be the number one in Silicon Valley, will soon be over; Founder, who was once the number one in China, said it went bankrupt and went bankrupt.

The risks in this business are too great.

This is true in China, as is the United States. The White House clamors every day to impose additional taxes on high-tech companies, and the European Parliament also wants to levy international Internet taxes. Netflix was also sued by the US telecommunications company, believing that they took up too much data. Netflix is ​​required to pay an additional fee in addition to paying the data fee. Europe is constantly issuing fines, and the United States is also constantly conducting anti-monopoly investigations, demanding that technology giants be broken up...

Buffett's investment principle is correct, and it is the same logic as the domestic private equity giant Lin Yuan.

But!

Zhou Buqi is different!

He is prophetic!

At least in the next 10-15 years, the high-tech companies he looks at will not have any problems. Individual companies like Nvidia, Netflix, Google, Apple, Penguin, Blizzard, etc. may even bring dozens of times the return in the future.

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

At worst, after more than ten years, the foresight will fail, and Mr. Zhou Buqi, a world-renowned financier who has already achieved great success, can retire from the arena and stop playing private equity. Or adjust the investment strategy, and stop giving all kinds of exaggerated investment return promises, and you can withdraw money safely.

"So, no one else can do it, but I can do it." Zhou Buqi smiled, full of confidence, "I just do this, and my understanding of the technology industry is far beyond other people. I know which company There is a future, which company will be finished."

"this……"

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

Zhou Buqi said lightly: "Ms. Chen Ran, what I need is not doubt, but execution. If even 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% per year. If it can't be done, the profit dividends are not required." , 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 closed period of private equity funds is not very long."

"Well, if it is a long-term value investment, the closed period is usually 1-5 years, and it can even be closed for 10 years."

"That's 3 years, and the settlement will be settled in 3 years."

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

Settlement every 3 years, that is to say, as long as the rate of return reaches 60% after 3 years, the requirement of annualized rate of return of 20% is met. The longer the timeline is stretched, the less risky it is for Zhou Buqi.

Chen Ran sighed and had a headache.

3 years?

Really?

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

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

Who can tell what will happen in the future?

Unexpectedly, Zhou Buqi continued to intensify, saying: "I said, if I want to do it, I must make it the best and largest private equity fund in the world. In addition to promising a 20% guaranteed annualized return, I also have to Add a loss compensation clause.”

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

Zhou Buqi said: "Investors want to make money when they hand over their money to me. If you can't make money for investors, it's like a crime. Therefore, we need to have a mechanism to ensure that investors' money will not suffer losses. I can’t eat people like Wall Street, my principle is win-win, and I want to help every investor.”

Chen Ran was numb, "What do you mean?"

Zhou Buqi said indifferently: "Investment is risky, and you need to be cautious when entering the market. But with me, investment must be risk-free! Once my investment loses money, I will pay out of my own pocket to compensate investors for the loss. With me Investment, at worst, is capital preservation, and there will never be a risk of losing money!"

"That does not work!"

Chen Ran has been taught several times by him, but when he heard this, he couldn't help being offended again.

This is ridiculous!

Is there any risk in investing?

Only liars can promise swearingly that they can make money without losing money. Once you lose money, use your own money to compensate the losses to investors? There is no such reason in the whole world!

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

All right!

He didn't look like he was joking at all.