Seeing Reagan emerge, Xia Yu was in a happy mood.

Although Reagan is not in public office today, and only the head of a charitable organization, his handsome appearance, the popularity of past stars, and his achievements as governor of California have added many highlights to his campaign.

If he can run as governor of California, he will definitely have an advantage.

Unfortunately, California is now the home of the Democratic Party, and the current governor, Jerry Brown, is a Democrat who is now stirring up trouble in California, hoping to fight his way out of the encirclement and win the Democratic nomination.

Although Xia Yu is now based in San Francisco, California, he also said that he could not do anything.

California is the territory of the California consortium, and the California consortium is now at the top of the top ten consortiums in the United States, and it happens to support the Democratic Party, so in fact, California is the traditional vote base of the Democratic Party.

Even Reagan's 10-year tenure as governor of California from 1964 to 1974 didn't win that seat for the Republicans, especially now that Jerry Brown has been running for the Democrats for six years?

In this case, if Xia Yu ran out to cheer for Reagan, he would only be unlucky.

Fortunately, Reagan himself performed well, was quite competitive, and gained the attention of many Republican bigwigs.

Reagan's campaign has taken a better trajectory than the original history, and Xia Yu is relieved, he put the matter aside for the time being and continues to worry about his career.

Five days later, Polaris Capital's New York branch finally set sail, and Peter Lynch flew from San Francisco to New York.

"Peter, how was the company during the time I left?"

In the office of Polaris Capital, Peter Lynch arrived in the dust, and after he rested for a while, Xia Yu asked.

Peter Lynch reported: "Boss, the company is doing well, and now the number of employees has reached one hundred and fifty-two...... The acquisition plan for Abbott has been made, and now I have brought it to the table for implementation, and in addition to that, there has been some progress in the retail industry. ”

"Boss, this is a preliminary screening target after collecting business intelligence, which will be handed over to the New York branch for further analysis, as well as the acquisition plan for Abbott, what are the instructions?"

As he spoke, Peter Lynch took out the materials made by the company from his briefcase and handed them to Xia Yu.

Xia Yu glanced at it, put aside Abbott's acquisition plan first, and looked at another material first.

When he was in San Francisco before, Xia Yu had an in-depth conversation with Peter Lynch, and explained the direction of the first phase of Polaris Capital's investment, which is the biomedical, high-tech and retail industries.

Of course, Xia Yu's often sudden thoughts are another matter, and they are completed according to Xia Yu's instructions as the situation becomes.

In the field of biopharmaceuticals, Genentech has been invested, Amgen has also been established, and the acquisition plan for Abbott, the target of the Dingding, has also been made.

In the high-tech field, Bridgewater Fund and Tiger Fund are already helping, and Xia Yu has told Peter Lynch that he doesn't have to worry about it for the time being.

As for the retail sector, Home Depot can only be described as a windfall, and when Xia Yu left San Francisco, Polaris Capital had not yet established itself in the retail sector.

Constantly flipping through the materials, more and more information entered Xia Yu's mind.

At this time, there were many national giants in the U.S. retail market, such as Dayton Hudson (the predecessor of Target, renamed Target in 2001), Kmart, Woolworths, Penney Company, etc., all of which were first-class retail giants and occupied a lot of market share.

However, behind these old or new retail giants, there are major conglomerates, and they have all entered this increasingly prosperous industry.

On the contrary, Wal-Mart, the world's No. 1 retail giant in the previous life, has not yet broken out at this time.

However, Wal-Mart is also included in this material as an important object of analysis at the first level.

Seeing Wal-Mart, Xia Yu was full of interest and looked at its information carefully.

Founded in 1962 in Bentonville, Arkansas, Wal-Mart listed on the New York Stock Exchange in 1972, has only 241 stores, far fewer than the tens of thousands of stores in later generations.

At this time, Wal-Mart could only be regarded as a regional retail giant, and it was only distributed in Arkansas and several nearby states in the southern United States.

Since its IPO in 1972, Wal-Mart has grown at a compound growth rate of 25 percent, with a turnover of $900 million and a net profit of only $34 million in 1979.

Although Wal-Mart has a high compound growth rate, capital does not believe it, because Wal-Mart at this time is small and unrepresentative.

In the early stage of growth, there are few companies that maintain rapid growth, but a large volume requires extremely high management art and strategic vision, and many companies will encounter bottlenecks or be knocked out of the dust.

In addition, in the past eight years, Wal-Mart's compound growth rate has been declining step by step, which also verifies the speculation in the capital field.

In 1972, when Wal-Mart first went public, it still had a compound growth rate of 42 percent, but what about the future? Step by step, even if it occasionally rose a little one year, it immediately fell again the next year.

Because of this situation, in the past eight years, Wal-Mart's market value has only doubled by one point, and it has fluctuated greatly, with a large risk discount, and the current market value is only $330 million.

It is unimaginable that Wal-Mart, which had a market value of $400 or 500 billion in later generations, had a market value of just over $300 million at this time, which is a fraction of the market value of later generations.

But Xia Yu, who is familiar with the situation in later generations, is not surprised, the 70s are just Wal-Mart's dormant period, and in the 80s, it is Wal-Mart's golden explosion period, with an average annual compound growth rate of more than 35 percent, while the average annual compound growth rate of the American retail industry at that time was only 2 percent.

In the ten years of the 80s, Wal-Mart completed the layout of the United States step by step, and the stock price rose 60 times!

It's a shame that it has only doubled in eight years.

But this is just the right moment, just before the rise of Wal-Mart, it is the best time to do it.

Peter Lynch and others do not have Xia Yu's forward-looking advantage, but they can list Wal-Mart as a first-level key analysis target in this situation, which shows that they have a good vision.

Seeing Walmart, the value of this material is enough.

Xia Yu was in a happy mood and continued to look down.

On the very last page, another separately listed target comes into view.

Seeing Xia Yu turn to this page, Peter Lynch immediately explained: "Boss, this company is just a company that has just been established for a few years, and it has not been listed. ”

Xia Yu raised his head and glanced at him, and said with a smile: "I just know this company, although it is only an unlisted small company, but the model is good, and the future prospects are bright, if you don't write it in, I will remind you that it is doing well!"