Reborn in Hong Kong as a Tycoon

Chapter 603 Corporate Annual Report for [-] ([-])
"Chengjun, the profit of Marvel Comics is not high, can you tell me why you bought this company?"

Haruko Mori asked aloud. After reading the annual report of Marvel Comics, she felt that the company's prospects were not very good.

However, Lin Baicheng heard the meaning of Moli Haruko's words: "If you have any ideas, just say it."

"Cheng Jun, I don't think Marvel Comics is worth buying, especially at a premium."

Haruko Mori simply said what was in her heart, because the relationship between the two was extraordinary and not a normal employment relationship, otherwise she would not dare to talk to the boss like this.

Lin Baicheng was not angry when he heard the words: "The reason is that you think the profits of Marvel Comics are not high?"

"That's not the most important thing."

Haruko Mori nodded slightly: "In my opinion, with the rise of TV and movies, and the popularity of arcade games and other electronic games, people will only have more and more ways to entertain themselves. Manga has no advantage in comparison, and the market will only increase. shrink."

"The bosom friend comics in Japan are not bad. There are national policies to support the comics industry. The United States not only has no policy support, but has strengthened the supervision of comics many years ago, so I think it is not a good idea to invest in the comics industry in the United States. choose."

"Your analysis, Haruko, is not unreasonable."

Lin Baicheng nodded in agreement, and then said: "But of course there is a reason why I bought Marvel Comics. First of all, Marvel Comics is one of the largest comic companies in the United States. Its own market is relatively stable. Even if it is restricted by the industry As a result, the company’s performance cannot grow significantly, but I don’t have high requirements for it, and it’s enough to stabilize the current market.”

"For Marvel Comics, what I value is Marvel's superhero copyrights. I think that with the advancement of film special effects technology, the movies made by these superhero characters will have great achievements, and the company will be valuable by then. "

"So Cheng Jun, you have long-term plans, but I am blind."

Haruko Mori nodded after hearing this, and did not refute what to do if the superhero movie is not popular. After all, it is only possible, and it is also possible to make a big hit. Refuting on this ground is refuting for the sake of refuting.

Lin Baicheng said with a smile: "If there is no accident, I will not continue to invest in Marvel Comics, so I don't have high requirements for it, as long as this company can survive on its own. If you make millions of dollars, even better."

"I believe, Mr. Cheng, that your judgment will not be wrong."

Haruko Mori immediately said that Lin Baicheng did not value the short-term interests of Marvel Comics, which meant that she was not investing indiscriminately, but that she knew it well. Of course, she would not say anything more, but had expectations for Marvel Comics. Haven't failed yet.

Lin Baicheng and Mori Haruko continued to read the annual report.

Pioneer Technology Venture Capital Company, in fact, the annual report of this company is nothing to look at. Lin Baicheng only invested a total of 1500 million US dollars, and arranged for this company to participate in the financing of Apple and New Century Software Company, holding a small amount of shares.

For the rest, Lin Baicheng asked this company to invest in a company that makes personal computers. The company's manager, Iger Demar, invested in several companies by himself, and the amount of investment was not large. So far, the company's 1500 million US dollars has not been spent. .

This kind of venture capital company will definitely not get a return soon, and it is normal to have no return for several years, so the annual report of Pioneer Technology Venture Capital Company is actually a zero egg.The so-called annual report is nothing more than sorting out how many shares the company holds in each company, the company's valuation before investment, and the current valuation, that's all.

Haruko Mori said: "Mr. Cheng, in fact, I think venture capital is quite promising if it does well. Do you want to invest some more money so that Aiger Dema can recruit a few talents and really develop the company?"

"What do you think?"

Lin Baicheng thinks it's all right.

Haruko Mori said: "You can try it. You don't need to invest too much at the beginning, and you can invest another 500 million or 1000 million US dollars. It is of course the best if the venture capital company can do it by itself; if it fails, I sincerely ask you The loss is not too big, it is acceptable."

"Since you say that, Haruko, let Egg Dema try with 500 million US dollars first. If he can make an investment, it is not impossible to increase the investment later."

Lin Baicheng nodded indifferently, but it was just a small additional investment of 500 million US dollars, even if it was a total loss, he could accept it, and he could afford it.With his current capital, he already has the capital for trial and error.

"After the gold futures investment is done this time, I will talk to Egg Demar about it."

Haruko Mori responded, she still hoped that Egger Dema could make achievements, so that she would also have the credit for the nomination.As for what to do if it fails, it is nothing more than replacing Egg Dema. She doesn't think that some investment losses will affect her.

"Ok!"

Lin Baicheng didn't say anything after hearing the words, and continued to read Microsoft's annual report.

The Microsoft company did not really belong to Lin Baicheng until December last year, which was actually just last month. Before that, Lin Baicheng only held a certain amount of shares in this company.

Last year, Microsoft’s valuation was once as high as tens of millions of dollars. Unfortunately, Bill Gates and others wanted to kick Lin Baicheng out of the game, so that Lin Baicheng and Bill Gates and others filed a lawsuit, and Bill Gates and others left Microsoft. Corporations, Microsoft these days are not worth that much anymore.

Fortunately, the departure of Bill Gates and others did not take away Microsoft's business, but only the loss of technical talents. As long as Microsoft can recruit corresponding talents, the company will soon recover.

However, Microsoft's current business does not have advanced technology beyond the times, so it is not afraid that it will not be able to recruit people. After all, Microsoft was only a small company before, and the talents it recruited were also not big names in the industry. So after Microsoft fell into Lin Baicheng's hands, I am not afraid The technical talents needed cannot be recruited.

Because of a series of things that happened, Microsoft's annual report was nothing more than that. After all, the company's own revenue and profit were not very high, and Lin Baicheng directly ignored the relevant data.

For Microsoft Corporation, what Lin Baicheng currently values ​​is nothing more than Shiwei Software, a subsidiary jointly established by the company and New Century Software Corporation. He hopes that this subsidiary can develop personal computer operating systems, so that the valuation of Microsoft Corporation It will definitely rise by then.

Once Shiwei Software cannot develop, Microsoft will not be worthless, but the company's value is limited, and the performance ceiling of its existing business is there. Unless the company can find another way out, the company's value will remain the same up.

Maybe Microsoft will have a valuation of 3000 to [-] million US dollars in a few years or ten years, or maybe the company's business transformation is not smooth, and the final expenditure is much higher than the profit, and Lin Baicheng shuts it down.

It was true that Microsoft was a trillion-dollar giant before Lin Baicheng was reborn, but it has changed now. It is impossible for a company to have a bright future just because of a name.

After Microsoft, Lin Baicheng actually has Sun Electronics Communications Company in the United States, but this company is still negotiating with Bell Labs for an acquisition, and there is no result yet, and there is no so-called annual report at all.

In addition to these companies controlled by Lin Baicheng, Lin Baicheng also has the annual reports and one report of two companies here.

The annual reports of the two companies are Apple Inc. and Zhonghe Game Company. He is the major shareholder of these two companies, so he was sent a copy of the annual reports of both companies.

Zhonghe Game Company has nothing to say. It had a financing last year. At that time, the valuation after the financing was 2.2 million US dollars. Lin Baicheng’s 40% stake was diluted and left 36%. It is still the largest shareholder of Zhonghe Game Company. .

However, although Lin Baicheng is the largest shareholder of Zhonghe Game Company, it is Phil Smith who manages the company. At present, Phil Smith has the idea of ​​seriously running the company, and he initiated the financing.

Lin Baicheng didn't attach much importance to Zhonghe Game Company, so the management right of the company fell smoothly to Phil Smith, who has fewer shares. Otherwise, if it was replaced by another company, the two parties would definitely have a fierce competition for the company management right .

The performance of Zhonghe Game Company is very good. The year before last, "Western Cowboy" was a big hit, and last year's second "Western Cowboy" was also a big hit. Although the performance of the company's self-developed games is not as good as "Western Cowboy", it is good for the company to make money Therefore, the company's revenue and profit last year were much higher than the previous year.

With the money, Zhonghe Game Company will of course expand. The company has increased investment in arcade game research and development, and established a console game research and development department under Lin Baicheng's suggestion, preparing to develop games and sell them on the Xingyue console platform.

Apple’s performance last year was also very good. Although IBM is currently preparing to enter the personal computer market, it has not started to enter the personal computer market last year. The real entry into the personal computer market must be this year in 1980, and there are at least a few months of buffer time.

Therefore, last year, there was no IBM disruptor in the personal computer market. Apple’s personal computer continued to conquer the city, with a profit of more than 3000 million US dollars. This was because it knew that IBM was about to enter the market and increased investment in market development. only higher.

IBM's imminent entry into the personal computer market will have a great impact on Apple. Not only did Apple's net profit last year not exceed 4000 million US dollars, but it also affected the company's valuation. The current valuation of Apple is only 4 million US dollars. .

The valuation of US$4 million is still Apple's asking price, and whether the market recognizes this valuation is still a question mark.

Under normal circumstances, if there is no competition, a company with rapid revenue and profit growth like Apple will have a premium in valuation, so everyone is optimistic about it and wants to buy shares in the company.

It's a pity that IBM's influence on the computer industry is too great. The giant is about to enter the personal computer market, and the capital market is naturally not so optimistic about Apple.Fortunately, Apple is not without a fight, otherwise Wall Street institutions will definitely ask the board of shareholders to sell Apple to IBM.

For Wall Street, they don't care who controls Apple, they only care about their own interests.

Lin Baicheng has great expectations for the prospects of Apple, but he is not sure whether Apple can develop like the original track.Fortunately, the control of the company is not in his hands, and his own investment plus the financing from Pioneer Technology and Hutchison Whampoa is only 1000 million US dollars.

Even if Apple can't compete with IBM, it won't go bankrupt, and if it can leave some assets, Lin Baicheng will not lose much even if he loses.

But if Apple resists IBM's offensive and finally goes public successfully, then Lin Baicheng will make a lot of money, at least hundreds of millions of dollars in return.

The last report was sent by Berkshire Hathaway. Lin Baicheng handed over $1000 million to Buffett in May last year, so Buffett will definitely send a report to Lin Baicheng, an investor, after the year.

This report is not an operating report of Berkshire Hathaway, but a summary of the investments involved in Lin Baicheng's fund, as well as the rate of return that investors are most concerned about.

In half a year, Lin Baicheng invested US$1000 million, and Buffett brought him a 17.1% rate of return.

Although it is only 17.1%, the time is still half a year. It seems that this rate of return is very low, and it is incomparable with Lin Baicheng's investments.But Buffett is stable. If he can achieve a compound rate of return of about 20% every year, after a longer period of time, it will not only not be low but will be very high.

Lin Baicheng himself does not plan to hand over the money to Buffett, but he plans to let someone take 3000 to [-] million US dollars to Buffett in the name of the Lin Family Fund after he has free time, and continue to invest all the profits without any change. It is believed that the rate of return on this investment will be very considerable in a few decades.

After seeing it, Haruko Mori said, "Mr. Cheng, why did you entrust the money to Buffett? Your own ability is better than his, and the rate of return is higher. It is too bad to entrust the money to him."

Lin Baicheng smiled and said: "I don't make investments every year. After this time, I don't know when I will have the opportunity. However, they make investments every year. If there is a return rate of about 20% every year, Counting compound interest, don’t you think he’s amazing?”

"Then he needs to have a 20% rate of return every year. Is he really that good?"

Haruko Mori didn't believe it, she didn't believe that Buffett was that powerful.

"You will know how powerful he is in the future."

Lin Baicheng smiled and didn't say any more. Although Buffett, who is only 50 years old, has a good reputation in the American investment circle, he is not yet the famous stock god in the future. Therefore, he has no way to explain to Haruko Mouri. Haruko made her own observations and judged later.

"I believe that no matter how powerful he is, he is not as powerful as you, Mr. Cheng!"

However, Haruko Mori said that based on the current investment performance, Lin Baicheng’s performance is beyond doubt. Gold futures investment will bring him more than tens of billions of dollars in return. It can be said that he is No. 1 in the investment world. can surpass.

Lin Baicheng, who listened to Haruko Mori's words, was not humble. He didn't feel that he would be worse than Buffett after being reborn. He still had this confidence.

(End of this chapter)