Chapter 1307 Daxia Capital

   "The teams are all in place now, just wait for the U.S. stock market to rebound."

  Xia Jingxing nodded lightly and went back to the family office.

   "After setting up a family office, how do you think you should allocate assets?"

  Liu Hai pondered for a moment, then replied: "This depends on your requirements.

   Unlike other entrepreneurs, Envision Capital's VC fund is actually your family office, and its investment targets include various startups.

  Of course, the main targets are still Internet and technology companies.

   Is the investment position in the new economy too heavy? Allocate some traditional corporate assets to hedge risks?

  If the dot-com bubble of 2000 is repeated, your portfolio will lose a lot.

   If there are some traditional corporate assets, such as food, clothing, housing and transportation, the situation is completely different. "

   "Do you think that with the current mature business model of the Internet, the Internet bubble will be staged again?"

  Xia Jingxing looked straight at Liu Hai, although he had planned to let Liu Hai take charge of his family property, but Xia Jingxing still wanted to test the other party again.

  Liu Hai shook his head, "Such a serious Internet bubble may no longer exist, but maybe there will be new technologies?

  For example, new technologies and industries such as artificial intelligence and cloud computing that are very popular now, it is difficult to say that the bubble will not burst first, and then usher in real prosperity.

   We cannot all bet on emerging industries, and traditional companies involved in food, clothing, housing and transportation will never be outdated.

  Look at the investment direction of Waterfall Investments, they have invested in hundreds of companies, involving dozens of industries.

   Even if all investments in emerging industries lose money, it will not hurt them. "

  Xia Jingxing admits that Liu Hai's analysis is reasonable. If he has no foresight, he may fully accept Liu Hai's investment strategy.

   But he knows that the future will be a decade of great prosperity for the Internet and technology industries, so why invest in traditional companies with lower yields?

  Traditional companies can invest, but after ten years, you can be a little more aggressive now, and adjust your positions and investment direction in the future.

   Thinking of this, Xia Jingxing decided to give Liu Hai a clue.

   "Using most of the funds to allocate equity in technology companies?"

   After listening to Xia Jingxing's introduction, Liu Hai's face was full of disbelief, and he couldn't help reminding again: "Envision Capital has actually done such a thing, and if it is reconfigured, the risk is too great."

  Xia Jingxing shook his head gently, "Envision Capital's investment in the Internet and technology industries is mainly concentrated in the primary market.

   And for various reasons, it is difficult for us to invest in two companies in the same track, at least both of them have heavy positions, which is impossible.

   Therefore, the family office can find leaks in the primary market and invest in companies that Vision Capital is inconvenient to invest in and cannot invest in. "

   Liu Hai thought for a while and reluctantly accepted Xia Jingxing's explanation.

  Xia Jingxing went on to say: "Secondly, Envision Capital's hedge fund has no restrictions, and companies are investing in any industry, and their positions and investment portfolios are changing at any time.

   And family offices can invest in some Internet companies in a centralized and long-term basis, such as Amazon, Netflix, etc., and invest for ten or eight years, so there is no need to rush out, because our funds are free and there is no duration requirement. "

  Liu Hai suddenly realized, as if he remembered something, was about to speak, but was interrupted by Xia Jingxing's voice.

   "That's right, it's like investing in the Lixia No. 1 Fund, but the investment time can be extended.

   Think about it, if the Lixia No. 1 Fund is not liquidated as soon as it arrives in three years, what is the current rate of return?

  120 times, 180 times, maybe more, in short, it will not stop at 60 times. "

   Hearing this, Liu Hai somewhat understands some of Xia Jingxing's ideas, how confident is he in the technology industry to be over-allocated like this?

  Xia Jingxing said calmly: "Investment in the primary and secondary markets of the technology industry is only part of the family office's investment portfolio.

The second part of    is to set aside some flexible funds to capture market opportunities that may appear at any time.

  For example, the Oracle incident this time is a good opportunity. If the funds cannot be allocated, the opportunity may be missed. "

  Liu Hai said with a smile: "This problem is easy to solve. We just need to keep $5 billion in cash on hand at any time. We usually use them to buy some large-denomination certificates of deposit and bonds that can be withdrawn and transferred at any time."

  Xia Jingxing nodded and continued: "In the third part, I may increase the capital of the industry at any time, and I need to keep some funds on hand, or make some short-term, easily realizable investments."

   "It's not a big problem, stocks can be bought and sold at any time."

   "In the fourth part, you need to allocate some assets to enhance your social influence."

  Liu Hai understood instantly and replied, "For example, basketball, football club? Right?"

  Xia Jingxing smiled, "Yes, money is only valuable when it is spent, it is not worth being a miser.

  Fame and social prestige are also intangible assets, and the benefits will be fed back to the sales of its products. "

   "Charity foundations count, right?"

  Xia Jingxing nodded and said, "Of course it doesn't matter, otherwise, what kind of money do the rich donate, just to give back to the society?"

   "There is also the fifth part, Gold in Troubled Times, Antiques in Prosperous Times, to collect some gold and antiques.

  I plan to keep some gold at home and abroad, and hide it in the basement for emergencies. "

  Liu Hai was dumbfounded, "How much is some gold?"

   "One or two tons is always needed, right? In case of any accident, all paper wealth will be lost, bank funds will be frozen, at least there are some collectibles, so as not to starve to death."

   Looking at Xia Jingxing's serious look, Liu Hai smiled and said, "Are you worried that a war will break out one day?"

   "Just be prepared! Although the probability of occurrence is negligible, it still exists."

   Xia Jingxing could not imagine that a war of any magnitude would destroy his business, freeze all bank deposits, and leave him with nothing.

   But compared to ordinary people, he has this condition to do things that seem a little silly.

  If conditions permit, he also intends to build a safe house for himself that can resist nuclear bomb attacks, and store generators, fuel oil and living materials that can survive for a few years in it.

   In normal times, this safe house is also useful and can be used as a resort for your family.

   It should be interesting to live there for a few days every year and experience life in isolation.

   The construction of these facilities is only a drop in the bucket for his huge assets, and will not affect his normal life.

   For ordinary people, they can’t afford to go bankrupt, and they will be regarded as neurotic by the people around them.

   Hearing that Xia Jingxing wanted to build a safe house, Liu Hai was completely speechless and wanted to ask: "Do you have persecution paranoia?".

   But soon, Liu Hai thought about it, the world of rich people is different from that of normal people.

   Xia Jingxing's arrangement cannot be said to be unreasonable. It is better to spend money on preventing the future than building a pure gold toilet and raising lions and tigers.

   "If my generation can't use the safe house, I can pass it on to my son, grandson, great-grandson."

   Having said this, Xia Jingxing laughed at himself, "If future generations lose all their fortune, they can sell the safe house, or transform it into a hotel or a place for exploration and play."

  Liu Hai was completely speechless and said with a smile, "Okay, everything is up to you."

  Liu Hai feels that the family office is about to become a tool for Xia Jingxing to realize his dream.

  He thought about it, the family office was originally meant to serve only one family, including Xia Jingxing's son's reading, marriage, and other chores to manage. It was very different from a social enterprise, more like a family's private kingdom.

   "Jing Xing, do you have any other ideas? Can you bring them up together? Even if we immigrate to the moon, we can make corresponding preparations."

  Liu Hai looked at Xia Jingxing with a smile, he was not joking, the functions of the family office could include such a line, the employer was responsible for providing fantastic ideas, and the people below were responsible for realizing it.

  Xia Jingxing suddenly laughed, "Forget it, I've only thought of these for now, I'll think of other arrangements in the future."

  Liu Hai breathed a sigh of relief. If the other party really proposed to immigrate to the moon, he estimated that he would have to run around for this matter in his lifetime.

   "You are in charge of this family office!"

  Xia Jingxing's arrangement did not surprise Liu Hai too much, in fact he had already anticipated that this errand would fall on his head.

   "What is the job at Vision Capital?" Liu Hai asked.

   "Gradually hand over to others."

  Liu Hai nodded in agreement without hesitation, after all, everything he has now is given by Xia Jingxing.

   The other party asked him to be a retainer, to be a big housekeeper responsible for managing more than 30 billion US dollars and Xia Jingxing's family affairs. Ordinary people simply cannot gain such great trust and reuse.

   “What is the name of the family office?”

  Xia Jingxing thought for a while and said, "Let's call it Daxia Capital, the English name is XiaDynastyCapital, keep a low profile."

   (end of this chapter)