Chapter 165: The Big Move of Galaxy Investment
At the beginning of 2009, with the continuous rebound of the purchasing managers' (PMI) index and real fixed asset investment, and the policy stimulus launched by the government, the market rebounded strongly in January and February.
However, because the domestic import and export data in February changed face, the decline exceeded market expectations, and under internal and external pressure, the market opened a wave of short-term adjustment after a strong rebound.
In mid-to-early March, the financial system in the external markets was once again in turmoil, with the Dow Jones and Dasdaq hitting new lows one after another.
As a result, under the effect of the improvement of local macro data and the second panic in the peripheral market, the market experienced another bottoming process in the rebound process in the first quarter.
In this context, Galaxy Investment's rebalancing behavior is particularly eye-catching.
After the matter in Haizhou came to an end temporarily, Ding Le returned to the magic capital from Haizhou, he looked at various discussions in the media and on the Internet, and he published a short article called "Value Investment is the Right Time" through Weibo in the name of Galaxy Investment.
In the article, Ding Le once again reaffirmed Galaxy Investment's determination to go long in China, and at the same time publicly positioned Galaxy Investment as a value investor in China's capital market for the first time. The short-term volatility of the capital market has not changed his determination to be optimistic about China's stock market in the long term.
The concept of value investing can be traced back to the 30s of the 20th century, founded by Benjamin Graham, known as the "Godfather of Wall Street", and later practiced by Warren Buffett, CEO of Berkshire Hathaway, for many years. In the 70s and 80s of the 20th century, the concept of value investing was highly respected on Wall Street.
Although value investing has been developed in Western capital markets for decades, in the current Chinese capital market, this concept is still a minority view, and many institutional and individual investors still prefer various technology streams.
Although the Shanghai Composite Index has been oscillating up and down, hovering below 3,000 points, time will not stop its hurried pace, but will be fleeting day by day.
In April, after careful consideration and strong promotion, Ding Le carried out the first organizational structure reform after the establishment of Galaxy Investment.
At present, Galaxy Investment's business scope spans the entire primary and secondary markets, including early-stage VC of start-up companies and stock investment of listed companies. With the expansion of the company's business scale, the previous organizational structure has been seriously unadaptable.
The current Galaxy Investment is basically supported by Ding Le's uncertain prophet, and the company has not formed a set of effective operating mechanisms. It is no exaggeration to say that if he hangs up one day, Galaxy Investment will fall apart.
With the development of the company's business, Ding Le has more and more of a feeling of lack of skills, every time he goes back and forth between Haizhou and the magic capital, he feels that he is very miserable, shouldn't he enjoy life at this moment? How can there be a feeling of taking out a script.
Moreover, Ding Le's choice to reorganize Galaxy Investment at this moment is also due to the fact that Xia Xiao is about to return from school, and he has the idea of paving the way for her to return and take over.
In his circle, Ding Jianye, Xu Jing, Fei Yang, and Chang Dong all have their own projects and positioning, but Xia Xiao is missing, and he wants to be the shopkeeper, and he is not at ease when Galaxy Investment is handed over to anyone, only Xia Xiao.
After the adjustment of the organizational structure, the board of directors will be the highest decision-making body of Galaxy Investment, and the board of directors will consist of the general manager, the investment decision-making committee and the risk control committee.
In the absence of the chairman, the general manager fully presides over the work of Galaxy Investment, and the investment decision-making committee has the highest decision-making power over the company's investment affairs, and the investment committee is led by the general manager.
In terms of the company's department setting, it is mainly divided into trading department, investment department, research department, risk management department, legal department, finance department and administration department.
The trading department is mainly responsible for securities investment transactions in the secondary market, as well as daily mark-to-market and other daily work.
The investment department is mainly responsible for the constellation collection plan of Galaxy Investment, and the professional point is to be responsible for the VC business in the primary market.
The research department is mainly responsible for macroeconomic analysis, industry development status analysis and value analysis of listed companies, and provides research reports and investment suggestions for the trading department and investment department through analysis and research.
The Risk Management Department is mainly responsible for the effective management of risks arising or potential in the company's operations.
The legal department is responsible for providing feasibility, legality analysis and legal risk analysis for the company's operation and management decision-making, ensuring that the company operates in accordance with the law and avoids risks.
The Finance Department is the department responsible for the financial affairs of Galaxy Investment, which specifically involves the company's fund allocation, expense management, employee compensation management, annual financial budget and final accounts.
The administration department is the logistics support department of the whole company, which specifically involves the company's daily administrative management, personnel management, IT technical support, etc.
After the organizational adjustment of the head office, Ding Le set up a branch in the imperial capital at the same time, and He Jun was responsible for the operation and management of the imperial capital branch, fulfilling his previous promise to him.
The Pengcheng branch, because there is no project to open, will not be considered for the time being. In order to appease the employees of the Pengcheng team, Ding Le promised Xiangyang that as long as there is a project opened this year, the establishment of the branch will be started immediately.
After the adjustment of the organizational structure of the department, Galaxy Investment launched a large-scale replenishment plan, Ding Le first promoted some people internally according to the performance of employees in the past year, and at the same time distributed hero posts through headhunting companies.
After this work was arranged, Ding Le told Xia Xiao on the other side of the ocean about the things that happened to Galaxy Investment by email.
At this moment, Xia Xiao has entered the sprint defense stage after graduation, and she will be able to graduate and return to China in a few days, and she also booked the position of financial manager to Ding Le, and she recommended Ding Le's good girlfriend to Ding Le during her study abroad.
As an investment company with billions of assets, as a new Internet celebrity in the domestic investment community, the outside world has always been concerned about the operation and management of Galaxy Investment.
The story of the traders of Galaxy Investment who almost switched careers to fight Warcraft in order to practice their speed has long evolved into various versions and spread in the mouths of the elites in Lujiazui, which clearly means that more money and less life come quickly.
The elites who have the idea of changing jobs have long been unable to sit still, and who will not change jobs if they do not resign at this time?
For this recruitment, Ding Le put forward some very strange requirements. In order to allow Galaxy Investment to establish an independent operation mechanism that he can leave at any time as soon as possible, he must first make good use of people.
For example, in order to avoid the formation of internal small groups, the same department can only hire two people with work experience in the same organization at most; those who often change boyfriends and girlfriends do not want to gossip about all kinds of scumbags and rotten women in the financial circle in later generations, and he doesn't want this kind of thing to happen in his company.
Fortunately, this is Lujiazui, and the most important thing is financial talents, as long as the salary is in place, there are still many young people who are not satisfied with the status quo and dare to try.
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