Although he had learned about Xia Yu from the information before he came, looking at Xia Yu's young appearance at this time, Buffett was still inevitably shocked.

However, he was already fifty years old, and he was already able to hide his true thoughts well.

With a kind smile on his face, he said, "Mr. Xia, taking the liberty to disturb you this time may delay you for some time." ”

Xia Yu smiled and shook his head: "Mr. Buffett is polite, in fact, I have long wanted to contact you and learn some investment experience from you, but during this time, the company has just set up a branch on Wall Street, so there are more things." ”

Buffy nodded: "I can understand that the initial stage of the company is the busiest. ”

"Mr. Buffett, your coffee!"

"Thank you!"

Xia Yu took a sip, put down the cup, looked at Buffett calmly and said: "Mr. Buffett, I have heard of your reputation for a long time, you are a very investment-minded investment master, Berkshire Hathaway was just a textile mill on the verge of bankruptcy before, but in your hands, it turned perfectly and became a dynamic financial company, which is extremely rare on Wall Street!"

Buffett smiled, as if sensing Xia Yu's attitude, he said modestly: "No, there are many fortuitous factors in my success, and there have been several times when my company has almost gone bankrupt, but it just happens that someone is helping or lucky." ”

Xia Yu smiled, skipped this boring topic, and suddenly said: "Mr. Buffett, you came this time to ask why we suddenly bought a large amount of equity in Berkshire Hathaway, right?"

Buffett didn't expect Xia Yu to take the initiative to say this, which couldn't help but disrupt the scene he originally expected, he suppressed the fluctuations in his heart, looked at Xia Yu with burning eyes, nodded and said, "Yes!"

Xia Yu said with a smile: "I have just said, because I am very optimistic about your investment philosophy, I believe that under your management, Berkshire Hathaway will develop very well, and I also want to make friends with you, so I will use this way to show my support and recognition to you!"

"I'm sorry to cause you trouble. ”

Buffett raised his eyebrows, he didn't expect Xia Yu to say this.

He stared at Xia Yu directly, as if he wanted to confirm the authenticity of Xia Yu's words, Xia Yu smiled lightly and calmly looked at Buffett.

After a few seconds, Buffett showed a bright smile and said: "I see, thank you Mr. Xia for your recognition, this is my honor, I am very happy to be friends with you!"

......

"Mr. Xia, can I know how many shares Polaris Capital has bought now?"

Xia Yu did not report the purchased shares to the New York Stock Exchange in time, so Buffett did not know that it was normal for Polaris Capital to hold 5.1% of the shares.

Xia Yu did not hide it, and said calmly: "Mr. Buffett, now our company has a 5.1% equity. ”

Buffett stared at him and said with a smile: "It seems that my company will have another important director, which is really a happy thing." ”

After laughing, Buffett suddenly asked, "Mr. Xia, can I know how many shares you plan to buy?"

After speaking, Buffett stared at Xia Yu tightly.

Xia Yu smiled indifferently, thought about it and said slowly: "Mr. Buffett, please rest assured, I have a friendly attitude towards you, so I can tell you about our company's plan, the original plan was to buy a total of ten percent of Berkshire Hathaway's shares, and now the plan remains the same." ”

Buffett's face suddenly softened, and he didn't know if he believed Xia Yu's words, he said with a smile: "Is this so, then I will rest assured." ”

Then, he laughed at himself and said: "Mr. Xia, let you see the joke, I won't tell you, I do have some fear of Polaris Capital, after all, your company is strong and has the strength to merge our company, but Berkshire Hathaway is the most important part of my life, so I have to be nervous." ”

Xia Yu nodded and smiled: "I can understand, I'm sorry for causing you trouble because of our sudden behavior." ”

"I'm sure we'll have a good time with each other in the future. ”

"I was worried before I came, but now, I am completely relieved, and I wish us a happy cooperation in the future!"

After letting go of the worries in his heart, Buffett was in a good mood and seemed to want to get to know his upcoming partner better, he continued to chat with Xia Yu for a while, and then invited Xia Yu to play golf the next day, and Xia Yu readily agreed.

The next morning, the National Golf Links Course.

Xia Yu was dressed in sportswear and saw Buffett waiting at the door of the court, and after a greeting, the two entered the court and played golf.

Although Xia Yu is young, Buffett's sophisticated skills in playing golf surprised him and praised Xia Yu's superb skills again and again.

Play a round of golf, chat about the latest news in the New York financial markets, or discuss the financial situation in the United States.

No matter what the topic is, Xia Yu can talk about it eloquently, and there seems to be nothing he doesn't know.

After playing for a long time, he seemed to be a little tired, and Buffett proposed to go to the side to rest for a while.

The two of them each leaned back on comfortable chaise longues, the soft sunlight pouring down from the blue sky, shining warmly, the breeze blowing, and the fragrance of grass came to their noses.

"Mr. Xia, I don't know what you think about the insurance industry?"

Taking a sip of juice, Buffett suddenly looked at Xia Yu and asked.

Xia Yu raised his eyebrows, his mind turned sharply, looked at him, and said: "After World War II, the insurance industry market has been expanding, and the peak period was in 1977, when the premium of non-life insurance direct business grew the fastest, once reaching 20 percent, and the premium of reinsurance business increased by more than 25 percent. ”

"However, after 1977, the development rate of the insurance industry began to decline rapidly, and according to the current trend, it will definitely be lower next year, and there is a high probability that it will continue until the next two years. ”

Xia Yu's judgment made Buffett frown, he thought about it, and said to Xia Yu clearly: "Then Mr. Xia, do you think it is necessary for the company's investment in GEICO to continue to stick to it?"

Could it be that the news is leaking out of the air?

Or is it just Buffett's temptation?

A few thoughts flashed through Xia Yu's heart.

He thought about it, and considering the future relationship, he simply explained the matter clearly in advance, and said: "Mr. Buffett, I personally believe that Berkshire Hathaway should invest in less risky companies when it has limited capital. ”

"To tell you the truth, before we paid attention to Berkshire Hathaway, we just wanted to buy an insurance company, but you also know that the insurance industry is mostly the core industry of major consortia, so our company paid attention to GEICO and entrusted Merrill Lynch to buy it. ”

"It was among the shareholders of GEICO that Berkshire Hathaway was discovered, and after further understanding, it was decided to buy a stake in your company. ”

"You ask, is it that Merrill Lynch has already found you?"

Buffett nodded and said: "Yes, Merrill Lynch has come to the company three times, but I didn't expect it to be you who wanted to buy GEICO." ”

"You just said that the growth rate of the insurance industry will continue to decline, so why do you still want to enter the insurance industry? Or do you fancy GEICO company, which is mired in the quagmire?"

Xia Yu smiled and said: "It is precisely because the growth rate of the insurance industry is declining now that it is easier for us to enter, and isn't it easier for GEICO to acquire if it loses money?"

"As for the investment risk and loss, our company doesn't care, we bear this money, if GEICO is a healthy company, we want to acquire a wholly-owned company, the difficulty and cost will be one or two times greater, much higher than the current risk and loss. ”

Xia Yu's rhetoric can be summed up in one sentence, I know the losses and risks of GEICO, but our company is strong and I don't care at all, as long as we can buy the company.

This kind of rich rhetoric makes Buffett not know what to say.

At this time, he had some mixed feelings in his heart, and when he encountered Xia Yu, a person who did not play cards according to common sense, he still directly smashed it with money and crushed it with capital, he didn't know what to say at all.

After a long time, he held on to the last glimmer of hope and said, "Mr. Xia, do you have to acquire GEICO as a wholly-owned company?"

Xia Yu nodded, and said as a matter of course: "Of course, only with a wholly-owned acquisition, we can invest hundreds of millions of dollars to transform, and even easier to acquire other insurance companies later, which involves the long-term strategic planning of Polaris Capital in the insurance field." ”

Well, it has invested hundreds of millions of dollars in transformation at every turn, and is still preparing for mergers and acquisitions later.

Each of these moves requires a lot of dollars, and Berkshire Hathaway simply doesn't have the capital to keep up.

That is to say, if Berkshire Hathaway retains its equity in the future, if it does not invest a large amount of capital, it will be diluted step by step.

However, Berkshire Hathaway is already short of funds, and if it is trapped by this, then it will really not be able to invest according to his philosophy.

And Buffett also thought about the positioning of Berkshire Hathaway, to enter the insurance industry, there must be a core pillar, and now it is obvious that GEICO cannot become a core pillar, and holding a little equity will become a chicken rib, or even a burden.

"Well, I have to say, Polaris Capital is very strong. ”

Warren Buffett smiled helplessly, and in his heart he had decided to give up GEICO.

Xia Yu smiled and said softly: "It's okay, the major shareholders behind it are not short of money, and more than a billion dollars of funds are still available." ”

As soon as these words came out, Buffett couldn't help but smile bitterly, and a wave of envy rose in his heart.

"Okay, I know what to do, we will give up the equity of GEICO. ”

"Thank you, Mr. Buffett, for your success. ”

"If there's anything we need help with in the future, I'm happy to help. ”

Xia Yu's words made Buffett's bad mood a lot better, and he smiled and said, "Then thank you Mr. Xia." ”

"No thanks, we are friends and should help each other. ”

"yes, we're friends......"

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