Chapter 353 Shigekura China

  A lot of greed can not chew!

  Xia Jingxing knew that he had been misunderstood.

  Although he does not need to prove or explain to anyone, if he is regarded as an idiot, it still doesn’t feel good.

  However, before he could speak, Gates jumped out to defend him.

  "You may not know Dai Lun. He started investing when he first founded Facebook. In 2002, he invested in the Chinese Internet company Netease..."

  After Gates invested in Facebook, he also got close to Old Man John, Breyer and others a few times, and he heard many secret stories about Xia Jingxing.

  At this time, he talked to everyone from Xia Jingxing’s investment in Netease, then to investing in Amico, then doing angel investment, and finally setting up a professional investment institution.

  The story of Xia Jingxing in the United States in the past few years is very exciting, legendary and magical enough.

  Many people don’t know that he has blossomed a splendid flower in the investment field besides Facebook.

  At this time, the three of Buffett and others were shocked when they heard that Xia Jingxing’s investment in NetEase had made dozens of times the return, and that the investment in Aimei could make another ten times the return, and so on.

  While starting a business and investing at the same time, can you still do so well?

  Is this special still a human?

  When Gates threw out the final King Bomb and Lixia Fund reached a yield of nearly 700% in one year, Buffett and others finally couldn't help it.

  The old man asked: "Dalun, can you talk to me about two investment cases?"

  Xia Jingxing originally listened quietly to Gates to brag to herself.

  It’s great to hear the richest man in the world praising himself.

  But when Buffett suddenly asked about it, he briefly talked about two investments.

  The process is very simple, and the result is also very simple. What is difficult is the various analyses before investment, which can be said to be the crystallization of investment wisdom.

  Naturally, Xia Jingxing can't say that he is unpredictable. He can only talk about the company's fundamentals and optimistic about the company's future performance.

  Buffett and other people also believed that the investment was so successful, and it was not an accident, it was almost as accurate as one shot.

  In addition to amazing judgment and financial talent, there is no other more reasonable explanation.

   Buffett asked: "Are you raising the second phase of hedge funds?"

  Xia Jingxing replied and introduced: “Yes, the second hedge fund of Vision Capital is named Grainfull (Xiaoman), which is taken from one of the twenty-four solar terms in the Chinese cultural tradition.”

The literal translation of   Xiaoman is "full of grains", which means a bumper harvest.

  Buffett found it interesting, and said with a smile: “Investment and asset portfolio management are indeed no different from growing crops.

  You have to sow, fertilize, weed, and watch out for the weather (black swan event). "

  Charlie Munger had a lot of contact with Li Lu and had a certain understanding of Chinese culture. This 80-year-old man also followed Xia Jingxing and asked about the names and allusions of several other funds.

  The reason why Xia Jingxing named the fund Twenty-Four Solar Terms is to show that he does not forget his roots, and the other is to tell stories and play the Chinese card.

  At present, various domestic industries are still in their infancy, and the technology and craftsmanship are also backward, and there is no industrial explosion.

  However, it is a general trend for capital to become more China in the future.

   So after Xia Jingxing introduced the Chinese allusions of Lichun, Lixia, and Liqiu, he began to talk about the Chinese market again.

   "...Last year, in 2004, China's GDP was 13.6515 trillion yuan, an increase of 9.5% over the previous year."

  Xia Jingxing glanced at the four people present, and continued: “Maybe everyone has paid attention to these data, and we all know that China’s economic growth is very fast.

  At the same time, there are also some doubtful voices, believing that there is a bubble in the economy, and this kind of economic miracle cannot be sustained for a long time.

  But I want to say that it can only prove that these so-called experts and scholars do not understand the national characteristics of the Chinese. "

  Young and vigorous!

  Buffett and Charlie Munger, two elders and eighties, looked at each other and smiled.

  Gates nodded, “Yes, the Chinese people are very smart and hardworking. I also think that China’s economy will continue to improve.

  In fact, Microsoft has been increasing its investment in China.

  We established an office in Beijing in 1992, and then established branches of Microsoft China Research and Development Center, Microsoft Global Technical Support Center, and Microsoft Research Asia.

  Microsoft China is now arguably the most complete subsidiary of Microsoft outside the US headquarters. "

  Li Lu smiled and nodded at Xia Jingxing. He felt that the latter had many views in common with him.

  I am optimistic about the Chinese market not because of ethnic bias, but because I grew up there and I am familiar with many things that I can’t see on the research report.

  "Investment is an art, and it can also be said to be an interdisciplinary subject. In addition to basic financial knowledge, you must also understand politics, history, philosophy, management, psychology, and so on.

  Every investment decision-making behavior is made by you based on your own knowledge.

  One’s own cognitive circle is what everyone has learned throughout his life. "

  Xia Jingxing pointed to herself, “I spent the first eighteen years of my life in China. I can talk about China in my eyes.

After the reform, China established special economic zones in coastal cities to provide policy, land, and human resources support.

  As we all know, China is a traditional agricultural country, and it will be a long and painful time to completely transform into an industrial power.

  What are the pains?

  Farmers in the central and western regions have to go to work in the eastern coastal cities and leave their children to the care of the elderly at home. They can only meet with their children once a year or even a few years...

  Workers are also very hard. Two shifts, three shifts, working more than ten hours a day is the norm...

  Even if they are separated from their flesh and blood and their work is difficult, many people will even face the situation that their boss defaults on salary, but the Chinese will not be knocked down by the difficulties, nor will they give up their pursuit of a better life. "

  Buffy’s characteristic head, “I understand this. The Chinese are indeed a very tough nation.”

  "This kind of tenacity is the gene that has been carved into the body of every Chinese under the scouring of the five thousand years of history."

  Xia Jingxing said with a smile: “Chinese people will not “cend the afterlife” like Indians, and they will not “live and pass” like people in Latin America and Southeast Asia.

  As for the divided regimes and frequent military conflicts in Africa and the Middle East, not to mention.

  If you look at the map against the map, there are more than 200 countries and regions on six continents. Excluding developed countries in Europe and North America, China will inevitably rise next, and it can only be China.

  In addition to external factors such as a stable political environment, good for business, and a large demographic dividend, the most important internal factor is the national characteristic of “continuous self-improvement”. "

   "Even so, I think China can only do some low-end manufacturing and processing foreign trade exports for the time being, and the economy will continue to grow until it becomes a middle-income country.

  Per capita income stagnated during the period of US$4,000 to US$12,000, and no longer increased.

   Then you will face the terrible middle-income trap! "

  Buffett lay on the sofa, looking at Xia Jingxing, and said: “The traps include the increasing polarization between the rich and the poor, the difficult industrial upgrading, the hindered urbanization process, and the prominent social contradictions.

  At this time, new developing countries will rise, low-end industries in middle-income countries will be transferred, and capital will flow to new value depressions. "

   "There is only one way to solve the problem, industrial upgrading, marching into the high-end field, providing people with a better life, and winning living space."

  As soon as Xia Jingxing's voice fell, Buffett shook his head and laughed, "It's very difficult, and the success rate is slim!"

  Xia Jingxing does not argue, because it is meaningless to argue about this now, and the previous life in 2020 is still at this stage-per capita GDP is 10,000 US dollars, and we have to continue to work hard!

   "Even if it becomes a middle-income country, according to China's size, it is still a 15 trillion U.S. dollar economy, and there are plenty of investment opportunities!"

  Buffy’s characteristic head, “That’s right, is Xiaoman Fund planning to make a major position in China?”

  Xia Jingxing shrugged and said, "Of course, is there a better investment opportunity than this?"

  "How is the Xiaoman Fund raising?" Charlie Munger asked.

   "Taking into account Mr. Gates's 100 million US dollars, the intent to raise 400 million US dollars has been reached."

  Bill Gates looked at Xia Jingxing with his mouth wide open, wondering if there was a line he should say.

  When did I promise to invest 100 million US dollars?

   was just forcibly designated.

  (End of this chapter)