Chapter 975: Future Value

Chapter 975: Future Value

After chatting a few gossips, the time has come to the noon meal time, most of the participants who were not present at the meeting have entered the night, the meeting is suspended, and it will continue at 6 o'clock the next morning.

Compared with the speed of the meeting, it is more important for each participant to participate in the meeting with an absolutely clear mind. After all, the inventory is not only an inventory, but also the future development strategy will be mentioned during the meeting.

Nan Yi was in the cafeteria of the EPC, chomping on the seafood fried noodles on the plate. Opposite him was Liang Huiwen who was slowly cutting the steak.

After eating half a plate of fried noodles, Nanyi stopped to sip his saliva, and glanced at Liang Huiwen who seemed to have a poor appetite.

"Tired of eating?"

"Somewhat."

Nanyi put down his cup, and picked up a lump of fried noodles with a fork, "Blame me, the adjustment was too high at the beginning, the conditions of the cafeteria should be gradually changed, and all the chefs take turns?"

Liang Huiwen put down the knife and fork, wiped her mouth with a napkin, "Those who can be rotated have already been rotated several times, and changing the chef can't solve the problem. I plan to reduce the supply of ingredients in the cafeteria from next week. Let's be single and re-train Everyone's taste."

"Heh." Nan Yi let out a grin, "I've already got a tricky mouth, and it's a bit difficult to lower my level."

The food in the cafeteria makes Nanyi a little bit unable to stop, and it is conceivable that the standard is high.

"That has to be lowered, or there will be nothing to eat."

"The chefs can be allowed to take a period of vacation. The staff of the intelligence policy committee take turns to cook in the cafeteria and eat what they cook for a few days. They will miss the ready-made food made by the chefs very much."

Liang Huiwen's eyes lit up, "This is a good idea, and it will be implemented next week."

"Um."

Nan Yi nodded, and took out the vibrating mobile phone from his pocket.

"Hello, who is it?"

"Hello Senior Brother Nan, I'm Zhao Lulu."

"Brother? Zhao Lulu?"

Nanyi turned his head around, and quickly put this strange "Zhao Lulu" on the seat of Li Yizheng's new student, just wondering why there would be new students starting in May.

"Hello, Zhao, what can I do for you?"

"Senior Brother Nan, Teacher Li asked you to report to the school within three days, saying that there is a project for you to participate in." Zhao Lulu said with a different thought.

"Please tell the boss that I'm not in the capital, and I will arrive at school the morning after tomorrow."

"Okay, I'll pass it on."

"Thanks."

Nanyi hung up the phone, thoughtful.

Since becoming Li Yizheng's student, Nanyi has only been to Beijing University once, to pay the research sponsorship fee of 500,000 yuan. He originally planned to pay it once a year until the degree committee issued him a certificate after the dissertation defense.

Now it seems that it is not enough to just pay the road money, and I have to work as a coolie a few times.

In the blink of an eye, the next morning, the inventory meeting continued.

"Taylor United Gold Group, we have very few shares left and no longer have the right to speak, but the market value of the group has risen a lot in recent years. At present, the value of our shares is 3.87 billion U.S. dollars, and last year's dividend was 86 million U.S. dollars.

Regarding gold, Mrs. Taylor also operated a plan a few years ago. Let Mrs. Taylor describe what kind of plan it is. "

"OK." Scarlett's voice came through the intercom, "A few years ago, Adam suddenly told me the story of the gold mines in Kalimantan, Indonesia. It was a Dutch missionary who went to Kalimantan in the 16th century. On the island, a strange thing was discovered when investigating around the island. There were glistening yellow particles in a river called Busan on the island.

The missionaries took away some of the sand in the river, and when they returned, they identified the yellow particles as gold.

Through this story, Adam inspired me. If a mining company announces the discovery of a large gold mine on Kalimantan Island with a reserve of 850 tons, if the mining company is still a mining company, the stock price will definitely rise to A very nice number. "

"Canada Bre-x?" Ma Shimin exclaimed.

"Bingo, when I asked people to find a suitable mining company to carry out this plan, I did not expect to hear the news that Bre-x had bought the mining rights in the Busan Mountains.

Scarlett Mining Group has been operating in Indonesia for many years. Not only has it bought all the exploration reports in Indonesia, our gold exploration team is also exploring in Indonesia. Busan Mountain is one of the areas that have been explored. The exploration team is there. Gold was discovered, but it is a pity that the gold reserves there are very small, the mining cost is high, and there is no mining value.

The Bre-x company has made a big move in an area that does not have mining value. It is very obvious that they have a bad idea. The ghosts followed for a while. After reading the tracking report, I came to the conclusion that Bre- x is doing what I want it to do.

In March 1993, our Indonesian partner went to Busan to visit the owner of Bre-x, Walsh. After friendly negotiation, we bought a 40% stake in Bre-x at 0.2 Canadian dollars per share, and spent a total of 400,000 Canadian dollars Yuan.

With the help of Bre-x and our Indonesian partners, the subsequent exploration work will become much easier.

In May 1993, Bre-x announced that it would implement a joint venture gold exploration project in the Busan area of ​​Kalimantan, and revealed that the company's geological exploration experts had studied in detail the 19 drilling holes constructed by the predecessors in the Busan area According to the information, this is an area with great potential for gold resources, and emphasizes that the predecessors did not realize its potential.

At the same time, Bre-x shares were trading on the Toronto Stock Exchange at C$0.45 per share, at which point our stake became 35%.

In December of the same year, Bre-x released the progress report of the Busan project for the first time, disclosing the drilling results of the first three drill holes: the first two drill holes revealed a fairly good continuity between 84 meters and 140 meters deep Gold mineralization; the third hole penetrated an 80m thick gold ore body grading 1.91-6.58 g/t gold.

Shares of Bre-X rallied again following the news.

In April last year, Bre-x reported the results of another six newly drilled holes, claiming one had intersected the ore body at an average grade of 12 g/t gold from surface to a depth of 26 metres.

The disclosure sent Bre-x stock up to C$1.50 per share.

In September of the same year, Bre-x submitted a preliminary prospecting report for the Busan gold mine project. The estimated gold reserves in the report ranged from 93.3 to 186.6 tons, and the stock price rose again to 2.70 Canadian dollars per share.

After the operation of Walsh, a former stockbroker, the stock price of Bre-x is now close to 10 Canadian dollars, which means that my investment has increased by nearly 50 times. Of course, it is not the end now. According to my plan for Walsh According to the evaluation of the follow-up plan, the stock price of Bre-x can rise to more than 200 Canadian dollars. "

The "story" told by Scarlett did not move the participants in the conference room much. The stock price rose to 200 Canadian dollars, but it was 400,000 Canadian dollars, a thousand times, a lot of multiples, but the final figure was only 400 million Canadian dollars.

Although this number can no longer be considered a small number, it is not enough to qualify to appear in the conference room where Nan's highest decision-making meeting is held.

After Scarlett finished speaking, Nanyi took over, "Bre-x is just a small plan that cannot be put on the table, and the benefits that can be obtained are very limited. The reason why it was proposed at the meeting is because a new industry, the Internet, is on the rise. rise.

For a long time, I have been very concerned about the development of the Internet. The Internet has also brought many benefits to Nanshi. It has changed our internal communication methods and accelerated the speed of information transmission. In terms of finance alone, it has won us a lot time and gain more benefits.

If a person's life is divided into several stages, 20-30 years old should be the struggle period, 30-40 years old is the rising period of life, family and career will reach the best state at this stage, for most people 40 years old After the age of 10, the appearance of life is basically fixed, and it is difficult to change in a better direction.

That is to say, every person and every generation has a golden period of 20 years. Now the 20-year-old generation will slowly replace the 40-year-old generation. Of course, this is for ordinary people who do not have much accumulation.

A fully paid-for car, two or three growing children, a house that is still paying off the mortgage, a measly one or two thousand dollars in savings, a job that is already very boring with little room for advancement .

These are the assets accumulated by an ordinary person over the past twenty years. Today, as long as a 20-year-old is lucky, a game of cards, a big lottery, and a high-paying job are enough to allow him to surpass Twenty years of accumulation of predecessors.

For an ordinary person, their wealth life is like this, it is difficult to weave a new script.

For the not-so-ordinary elite youth, it may be one month or one year, and he can surpass the accumulation of ordinary people for twenty years. Of course, the greater the ability, the greater the ambition, and the elite youth will not be the same as ordinary To compare with other people, what he wants to compare is the elite middle-aged.

One day, the elite youth will replace the elite middle-aged and become the mainstay of the elite world. Maybe he will be content with the status quo, or he will launch an impact on the genius world. Everyone, in the current industry, an elite leapfrogs the challenge and becomes the mainstay of the elite world. What are the chances of a mainstay in the genius world? "

"If there is no inheritance from the previous generation, the possibility of an elite entering the world of geniuses is very slim, let alone becoming a mainstay." Liang Huiwen said: "There will be such people, but the number will never be many, there will only be a very small number. Individual lucky ones."

Eludor von Mackensen: "It is almost impossible in Europe and North America. The existing industry has been occupied by large consortiums and large enterprises. An elite body of interests.

In Asia, where the economic development speed is relatively lagging behind, there should be opportunities. There are not many large-scale enterprises yet, and there is still a lot of room for development in the industry. "

Ma Shimin: "There are not many opportunities in Asia. Huaguo, the country that is most likely to produce geniuses, has gone through two rounds of reshuffle. Now those who are still alive are the best among the elite. They are very close to geniuses, and it is difficult for later elites. against them."

Nan Yi chuckled, "If I say that the traditional industry, or the genius world that the traditional track opened to the elite, is closing fast, shouldn't that be wrong?"

"That's right."

Everyone agreed.

"Traditional tracks are not easy to move on, elites will not accept their fate, they will look for a new track, a track where no one is standing at the end ready to watch their jokes, a track that is relatively fair and competitors are near the starting line .

The Internet is such a new track. It is long and complicated. There are no pioneers, and there is no experience to learn and imitate. The elites can only explore on their own.

It doesn't matter if it is difficult, as long as it is fair, as long as the 'difficulty' is not targeted.

Without standards, it means that there are no giants, there will be no suppression from the sky, and it also means that future Internet giants are all on the starting line.

Although Washington is already promoting the development of the Internet and has listed the establishment of an information highway as a national policy, the new Internet is not indispensable to people. If you want people to pay attention to it and use it, you need someone to advocate it. ,promote. "

Nanyi spread his hands and continued: "If you need to do something, you will naturally need capital. Spreading the Internet requires capital, and developing software based on the Internet also requires capital. If you want to put software on the Internet, you need a server. The number of users that a server can receive is limited, if you want to receive more users, you need to increase investment in servers.

Based on the current server cost, if you want to build a server that can receive 1,000 people at the same time, the cost will not be less than 100,000 US dollars, and 100,000 people is 10 million US dollars. This is not counting the monthly payment to the communication provider cost.

It is undeniable that as technology improves, this fee will decrease, but if it is only a product or service for 100,000 users, how much revenue can it generate?

Based on the services and charging standards provided by AOL, it is already an excessive figure to charge one user $100 a year, that is, 100,000 users can provide a maximum turnover of $10 million.

I don't need to explain too much, everyone can understand that this means a huge loss.

The most ideal state is a huge loss. If it returns to reality, how many of the 100,000 users are willing to pay? "

"Adam, are you trying to say that the Internet needs a long incubation period and burns a lot of money?"

"Bingo is not a new thing just needed. If you want to attract people to try it, you have to start with free. Back then, the East India Company sold opium in the Manchu Qing Dynasty, which started from offering it to the Manchu nobles for free, while advocating that opium is a tonic. It can aphrodisiac, while waiting for the other party's drug addiction to occur.

Similarly, Internet products have to wait for the user's drug addiction to develop before considering the issue of charging.

At that time, at the beginning, only the East India Company sold opium, and it was an exclusive trader. There was no need to worry about competition from others, and the price could be set very high. But it was no longer the case. In order to prevent the outflow of silver, the Manchus also planted opium themselves. The price was very cheap, and almost everyone could afford it.

Competition is ubiquitous. Forerunners have cultivated the market to a similar level and are preparing to enter the fee-paying stage. In order to promote similar services, latecomers will also play free cards.

Therefore, I speculate that the Internet will have a very long incubation period, and for a long time to come, the services provided by the Internet will be free. Since it is free, where does the server fee come from? Where do staff salaries come from? "

Ma Shimin: "Continuous financing."

"Yes, continuous financing, continuous burning of money, burning to death of competitors, until users are willing to pay or find other profit models. Internet companies want to succeed, ideas are not important, ideas are easy to imitate, technology is not important, there is not much technology Funding is the most important thing if we can monopolize it.” Nanyi shrugged and spread his hands again, “After a circle, the Internet is still our game.”

Nanyi's words made everyone smile.

"We can firmly believe that the Internet will make a big difference. The Internet will become an airplane, not an electric car. Eventually people will abandon it and choose a car that can run hundreds of miles with a little fluid."

"Hahaha."

There was laughter in the conference room.

"Hmm, the example I gave seems inappropriate. Electric cars are a project we have put on the agenda." Nanyi waved his hand and continued: "The Internet will be the same as all the new things before. If it wants to be popular, it needs a The process, every step of this process requires funds.

A few years ago, we have already started the layout of the Internet, and we will start investing in Internet companies next.

Patience in investment depends on the thickness of funds. We can afford to wait, but some people can't. The process from full of confidence to extreme disappointment will be very fast, maybe a week, maybe a day.

Although we can afford to wait, I don't want to burn too much of our own money on the Internet. Therefore, no matter what the Internet will become in the future and we need it, it will definitely serve as a tulip.

Investing, waiting or promoting the valuation of the companies we invest in, cashing out on the eve of the bubble, and then waiting for the Internet to enter the trough, we will go back to buy the bottom.

Now, let me return to the topic of Bre-x, why did the stock price of Bre-x rise? "

Nanyi didn't wait for others to answer, and asked and answered directly, "Because stockholders are full of expectations for the future value of Bre-x, Bre-x needs false positive information about gold mines to support its future value. The same is true for the Internet, which needs to let everyone Believe that its future value, of course, is real value, not false.

Internet investment is to invest in its future value. For the time being, we don’t care about its future. What we have to do is to summarize the future value of the Internet, and then promote it to let more people know. "

Scarlett laughed and said, "Adam, you are still the same bastard, and this time you will cause a lot of losses to a group of people who think that God cares for him."

"No, the ones who lose the most are the greedy people who are smart and think that there will be someone to take over from behind."

Scarlett: "Aha, they have been fooled too much, they will naturally learn to be smart, and they will throw it out earlier next time."

"It's easy to handle. Next time, hit the price before them. Next time, after they throw it away, continue to push the price up, lose some money, and make them suspicious and stop being smart."

Scarlett laughed, and didn't return Nanyi's words. Nanyi just talked about it. Scarlett had similar practical experiences many times. Speaking of playing tricks on people's hearts in the financial market, Scarlett is qualified to give Nanyi Be a patriarch.

After talking about the future value of the Internet, Sandeep continued to take stock.

"The scale of funds managed by Scarlett Fund has reached 37 billion U.S. dollars. Compared with Madoff Fund, this result is not qualified." Sander said humorously: "Moreover, the income is not as high as that of Madoff Fund. Every month The 2% return is so attractive.”

Nanyi knew what the Madoff Fund was, so he would naturally draw people's attention. He remembered that when the Madoff Fund case happened, 60 or 70 billion dollars of funds evaporated, and the interest paid to previous investors was removed. There should be a lot left anyway, and he is very interested to know where the money has gone.

Nanyi is paying attention to the Madoff Fund, and the members of the Intelligence Policy Committee can naturally see the report on the Madoff Fund. Everyone in the Intelligence Policy Committee knows that the Madoff Fund is playing Ponzi.

"Scarlett Fund earned US$1.105 billion in fund management fees last year, retained US$1.217 billion in investment profit differences, and US$923 million in self-owned funds.

There is also a long-term wealth management company under the name of Scarlett Holdings. This company is not for profit. Its mission is to transfer benefits from Scarlett Holdings to Adler's future.

Adler's future, Nan's future, Nan's poor future, Adam II Taylor Nan's future, thank God, Adam II's leadership is no worse than Boss, Nan's future is bright. "

Sandeep's words came to an abrupt end here, leaving a little time for everyone to digest.

Everyone in the Intelligence Policy Committee knows that Nan Youqiong will be Nan Yi's successor and the future head of the Nan family, but Nan Yi never mentioned this in front of everyone at the meeting. Sandeep said it now, It's an informal blowout.

Next, Nan Youqiong will participate in some of Nan's projects, and let the people from the Intelligence Policy Committee see if he can do it.

Although it is natural for Nan Yi to let his son take over, no one can say no, but whether Nan Youqiong can be recognized by everyone is related to the cohesion of Nan's family. Nanyi can't officially announce that Nan Youqiong is As the successor, you should blow the wind first and then make an appearance. Once Nan Youqiong is recognized, the succession will come naturally.

Of course, doing so must be based on Nanyi's absolute confidence in Nanyouqiong.

The meeting room was quiet for a while. No one expressed their intention to express their views and opinions. They are all smart people. They can understand what happened just now, and it is not now that they want to express their opinions.

Besides, how old is Nan Yi, and the succession is still far away.

"Fan American Investment Holdings has four subsidiaries: the richest man Albert, the Entrepreneurial Hero Project, the Third World, and Qiongqi. Among them, the richest man Weiye has become independent and is no longer a subsidiary of Fan American Holdings in name.

The richest man, Albert, has no fixed assets of his own, but only invests in external companies. Let me introduce some of the more successful investments.

Dell, after seven long years of continuous follow-up investment, we have invested a total of 67 million US dollars, and the value of the shares we hold is 4.3 billion US dollars. After its listing, we have cashed out 700 million US dollars, and the investment has been recovered.

Microsoft, our total investment is 170 million US dollars, accounting for 16.5% of the shares, and the current share value is 6.245 billion US dollars. Microsoft is going to release windows95 soon, which is a cross-generational operating system. I believe that in a few months, the value of our shares will increase a lot.

Compared with these two very eye-catching investments, the others are not worth mentioning. There are a few value-added multiples that are quite amazing, but the absolute value is too low.

In particular, I would like to point out that Apple’s investment case is really a bad investment. The total investment is 70 million U.S. dollars, and the value-added is less than 100 million U.S. dollars. If the money is put in the bank of Huaguo, the interest rate will be higher. "

Hearing Sang Depu's complaints, Nanyi smiled knowingly.

"The overall valuation of the richest man, Albert, is US$47.1 billion, and the part that belongs to us is US$16.485 billion. The cash profit is US$4.2 billion, and the part that belongs to us is US$2.4 billion. In addition, during the dilution process of the shares of the richest man, Albert, Pan American Holdings has cashed out a total of 1.26 billion yuan. 100 million U.S. dollars, and this fund is in the account of Pan American Investment Holdings.

The Entrepreneurial Hero Program has not generated any income yet.

The third world has invested a total of 1.5 billion US dollars in third world countries, and as of yesterday, the investment has recovered 720 million US dollars. Most of the projects held have huge room for future growth, and I believe they can get a good return.

Qiongqi, a capital-oriented investment company, Sequoia Capital, KPCB, DFJ, International Data Group, Carlyle Group, Blackstone Group, Goldman Sachs, Li Jiapo Direct Investment Company, Capstone, Permira, 3i Group, HSBC Holdings , Barclays, Close Brothers and more.

The United States, the United Kingdom, Canada, France, Germany, Italy, Japan, Lijiapo, Hong Kong, Huaguo, and the three Nordic countries, almost all of the large capitals with good performance in the world, more than 70% have poor funds.

The total investment is 5.9 billion US dollars. In the past three years, the average annual rate of return is 10.52%, which is considered a good rate of return, and it guarantees the diversification of investment channels and the safety of funds.

The companies directly invested by Pan American Holdings include Wonderful, Tesco, Cisco, Wal-Mart, Best Buy, Starbucks, McCormick, Qualcomm, Gilead Sciences, ARM, ASML, Vestas, Dassault Systèmes, SAP , CA Technologies, Symantec, Filier Corporation, Infosys, PTC, Allen Robotics, KUKA, ATI, TSMC, AMD, Intel, Delta, Lite-On Technology, Artesyn, Keyence, Yaskawa Motor...

Asahi Kasei, Synthetic Rubber, Nichia Chemicals, Ohara Optical, Horiba, Kobayashi Research, A-one Precision, Yamazaki Mazak, Shimadzu, Shibaura, Keyence, Nagase Industry, Sekisui Chemical Industrial and other semiconductor-related companies.

In the past nearly 13 years, Pan American Holdings has invested in too many companies, especially companies in the semiconductor industry. The investment is quite large, which has also given Pan American Holdings the title of "semiconductor wind vane".

Let me comment on a few particularly successful investment cases. The first one is Wangdefu, a company established by our Nan family. After more than ten years of development, the profits from selling hamburgers are limited. Instead, we made a lot of money through real estate investment. Big profits.

In particular, the two purchases and one sale in Times Square earned 1.18 billion US dollars. I am very grateful to the Japanese real estate developers for their contributions to Nanshi.

The properties held by Wonderful Real Estate Management Company not only increase in market value every year, but also contribute nearly 300 million US dollars in rental fees every year.

The connection between Wonderful Foods and Wonderful Real Estate Management Company has been clearly separated. Wonderful Foods will soon enter the IPO process. It is believed that there will be a good market value after listing. There will be good profits.

Cisco, our total investment is 37.8 million US dollars, and the value of the shares held today is 5.625 billion US dollars. This company has huge development potential, and perhaps one day our share value will double again by 10 times. "

Nan Yi just wanted to say that Sandeep was too timid and didn't dare to try to guess higher, but he remembered that Cisco's market value had reached a peak of hundreds of billions of dollars, but he forgot the exact number, it should be about 4 , 5, and 6 are numbers close to the median.

While watching the rise of Cisco's stock price, while slowly cashing out, Pan American Holdings has a good chance of holding shares worth close to 200 billion U.S. dollars, and it should not be a problem to withdraw 50 billion U.S. dollars.

For a company that will reach its peak and then slowly decline, it doesn’t make sense to keep too many shares in its hands. It’s better to cash out most of it before the peak and keep a small part.

"Wal-Mart, unfortunately, when its market value reached 73.5 billion U.S. dollars in 1992, we only cashed out 2.5% of the shares. Now Wal-Mart's market value is only 59.3 billion U.S. dollars, and our 5.5% shares are worth 3.2615 billion U.S. dollars.

The valuation of Pan American Investment Holdings exceeds US$100 billion. It is the first company with a valuation of more than 100 billion in Nanshi, and it is also the only company for the time being. The part belonging to Nanshi is US$47.52 billion. Plus, there's $23,715.3 million in liquid funds in the account, damn the IRS, vampires, too much tax to pay.

Boss, we need to spend at least half of the funds as soon as possible, otherwise it will be cheaper for the IRS. "

Nan Yi nodded and said with a smile: "Rachel, congratulations, although your shares are only 1.25‰, you are also admitted to the billion-dollar club."

When Rachel first became the president of Pan-American Holdings, her shareholding was only 0.25‰, which has increased by 1‰ over the past ten years, and it was a resolution passed collectively by all shareholders. It is conceivable that Rachel is affirmed by shareholders. .

Rachel: "Thanks, Boss."

"You're welcome, I'll send a business plan to Pan Amkong soon, I hope you won't get stuck with me."

It's time for Yiwan International to rush to the world to accomplish what Nanyi wanted to do in the silk field. However, the profits gained over the years alone are not enough to stir up troubles in the international arena. Financing is the only way .

"Boss, I will do business."

"This is enough. The company to be financed is a high-quality company with good profitability, and the risk control department will definitely give it a good score."

Nan Yi smiled happily, signaling to everyone that today's meeting is over, and then packed up his things and walked out of the meeting room.

It's almost time for dinner again, and the meeting will continue tomorrow.

Nanyi didn't plan to eat in the cafeteria of the EPC today, so he went downstairs and got into the car after leaving the meeting room.

After sitting down, he began to meditate.

Nanyi intends to withdraw 5 billion US dollars from Fanmei Holdings Investment and invest it in China through green nuclear development. How to tell shareholders that the specific whereabouts of the money needs to be carefully considered. It is necessary to support the development of domestic industries and ensure income.

It’s really difficult to invest this money if you don’t run it yourself. Not only must you consider the support of the industry at the national level, but you must also examine the real situation of the company, the character and ability of the manager, and who should be sent for follow-up fund supervision. Every trivial matter needs to be considered clearly.

If you close your eyes and throw it, Nanyi will only end up with a double face.