Ji Runzhi, the president of Dahua Investment Company, who had been summoned, broke into the office in Sioux City like a cheerful lame camel.

"This is the investment directory. Ji Runzhi carried the hump on his back onto the table. It was a half-life-long box containing at least 10 400-page loose-leaf brochures, not only a directory of companies he had sifted through that were worth investing in, but also more business plans and analysis.

Needless to say, Ji Runzhi has been preparing these things for a long time.

On the contrary, on July 18, not long ago, the State Council made the "Decision on Deepening the Reform of the Urban Housing System", announcing that the distribution of housing benefits in kind would be changed to the mode of monetary wages distributed according to work, and at the same time the housing provident fund was established. Many Chinese people did not know what this decision meant at this time, but Ji Runzhi already understood that real estate investment in China at this time was definitely a first-class good business.

However, the technical content of real estate investment is too low, it cannot be said that it has no technical content, but it is really not much, and the construction of hotels on his own real estate cannot satisfy his ambitions.

Ji Runzhi, who studied abroad in the 80s, did not work for salary, at least not for tens of thousands of thousands of yuan. He came to Dahua Industrial to make an investment in his life, and the return on investment he expects is by no means to buy land everywhere with billions of yuan as his career.

Therefore, in addition to the boring work of buying land, Ji Runzhi has been insisting on doing investment analysis and investment reports.

The so-called opportunity is reserved for those who are prepared, and Su Cheng, who originally had a smile on his face, couldn't help but become serious when he saw the boxes as thick as a hump and the more than a dozen loose-leaf albums that were even thicker.

In Su Cheng's mind, he just regarded venture capital as an idle move. A success rate of 1 percent or even less can be regarded as a 30%, 50% or even 80% chance for him. The easiest trick is to choose a company name that you have seen before to invest in. No matter how bad it is, there are many blue-chip companies that live to be decades later.

However, Ji Runzhi's efforts, the moment he opened the box, moved Su Cheng.

He originally wanted to find a new manager for the venture capital department, but now seeing Ji Runzhi's approach, he has a new idea, let Ji Runzhi also serve as the manager of the venture capital department, shoulder to shoulder, until there is a new successor, or Ji Runzhi is unwilling to do it again.

In this way, the future super profit of Dahua Investment Company will inevitably coat Ji Runzhi with a thick layer of gold.

Su Cheng didn't have to say anything about personnel at this time, he took out a blue loose-leaf booklet from the box without saying a word, and opened it quietly.

The handwritten regular script font is neat and neat, like a middle school student's Chinese homework.

Ji Runzhi touched his head embarrassedly and said: "After I went abroad, I didn't practice calligraphy well, I want to use a microcomputer, and the software is difficult to adjust, see a smile and laugh ......."

Su Cheng didn't smile, silently closed the loose-leaf booklet, took out a booklet with a green cover, and opened it gently.

"This is a portfolio investment analysis about the U.S. stock market. Ji Runzhi found that Su Cheng saw it quickly, and hurriedly introduced: "Investing in the stock market will not have a particularly high return, but it is relatively stable and suitable as an alternative to a portfolio." I think that if you invest now, American Express, Gillette, the one that makes razors, and Wells Fargo, the Washington Post, Coca-Cola, Guinness, are not bad options. It's best to buy them in the right proportions, for example, Amex can buy a large amount, Coca-Cola can buy more, Guinness and the Washington Post only need to hold a small amount......"

Sioux City noncommittally put down the green-covered loose-leaf booklet, if you look at the experience in the future, the stock portfolio recommended by Ji Runzhi is indeed very stable, whether it is American Express, or Wells Fargo, Coca-Cola, it can almost guarantee a return of more than 7% per year, and paper media such as the Washington Post are also one of the few media organizations that have not been destroyed by the Internet.

From the perspective of an investor, according to such a portfolio, it is quite good to get returns on time.

Although this is not what Su Cheng wants, it does not negate Ji Runzhi's judgment and efforts.

Su Cheng then took out a red booklet and finally saw the content of venture capital, but to his surprise, it was not the European and American high-tech companies he was familiar with, but extremely unfamiliar Israeli companies.

Ji Runzhi guessed Su Cheng's doubts, that is, he said: "Israel is vigorously developing venture capital in China, attracting investment from overseas funds, and the support is very good, and their newly established Yozma Group reserves 100 million US dollars, which will be used for public welfare." There is a saying in Israel's political axe, which is called that the political axe fund only shares risks, not benefits, and after the project is on track, the political axe fund will exit at a price close to the cost......"

Seeing that Sioux City was listening, Ji Runzhi continued: "There are many Jews in Israel who emigrated from the former Soviet Union, these people have a good level of education and knowledge structure, and the Israeli political axe continues to guide them to innovate in the high-tech industry. ”

Most of the companies on the roster are not so well-known, but Israel's high-tech industry has always been good, and Israel's high-tech incubator is a model for China to vigorously promote and learn from after entering the 21st century.

Considering it in this way, Ji Runzhi's idea is not untargeted.

Su Cheng agreed, but put the booklet down, and he was going to wait until he confirmed that there were free funds, and then handed over the task of screening directly to the venture capital department.

In fact, if he had known that ICQ, the predecessor of QQ, was invented by the Israelites, he might have made a decision now.

Underneath the red booklet is a loose-leaf book with a yellow cover.

Turning the page, the first page is the company Sioux City is familiar with: scapemunicationscorporation, that is, the famous Netscape communications company, they made the Netscape browser, created the first war of the Internet world, the browser war with Microsoft.

Finally seeing the familiar companies, Su Cheng breathed a sigh of relief inexplicably, how did he know what year these companies were founded, and even whether they would appear or whether they would change their names, they couldn't know for sure.

Sioux City didn't know and didn't care about the rights and wrongs of Netscape and Microsoft IE, but as far as he knew, the Netscape was worth billions of dollars when it was acquired by AOL a few years later.

The exact figure is $4.2 billion, at the end of '98. In the 95 years before that, Netscape, which was listed on the public market, had a market value of $2.7 billion, which was a record "first profit".

In other words, investing in Netscape now only takes 4 years, and you can get a thousand-fold return.

"Can you take it?" Sioux City couldn't let go of such a high-return company, and immediately clicked his finger on Netscape's name.

Seeing that Su Cheng did not completely deny his work, Ji Runzhi became excited, only glanced at it, and said, "I will find a way." ”

In foreign countries with well-established capital markets, it is not possible for venture capitalists to invest in whichever company they want to invest in. Whether the other company needs capital and the intentions of the other party's managers will affect the work of venture capital.

Netscape can't be said to be developing by leaps and bounds, but it has also revealed a strong prototype, and more importantly, the designer of Netscape has a partner at the first time, and is the founder of another Internet company, and is not particularly short of money.

If you want to win Netscape, at least get a high price that the other party can't refuse.

Ji Runzhi thought for a moment and briefly introduced: "I know about this company through the relationship with the bank, it has an investor, called Jim Clark, the SGI company he once founded has been funded by venture capital, if he wants to sell Netscape's shares, I estimate that he will have to prepare 5 million US dollars to have a chance to get about 20% of the shares." ”

After speaking, Ji Runzhi looked at Su Cheng carefully, this money is not much, but it is also a lot, and the value of the exchange for Chengren Minmin is at least more than 20 million yuan.

The world in '94 is not like 2014, when there were very few Internet companies that bankers could notice, Jim Clark's SGI company was also a large company with a value of more than $1 billion, and for venture capital in the United States and Europe, IT companies like Microsoft and Oracle are almost the upper limit of their understanding, and Netscape will be found because it is really valuable and naturally expensive.

A 20% stake of $5 million means Netscape is valued at $25 million.

Su Cheng pursed his lips and said simply: "Take this company, I will prepare 20 million US dollars for you, and the more you take, the better." ”

As long as it goes public next year, the market value of Netscape will rise a thousand times, and when the time comes, there is no need to wait for the highest market in 99 years, and there will be a massive amount of funds to return if it is directly thrown away, and there is no reason for Sioux City to be stingy.

Ji Runzhi was surprised by Su Cheng's generosity, and hurriedly agreed, and said: "This booklet is full of high-tech companies, I made a four-point comparison of them, using five stars to represent the best, and one star to represent the worst ......."

Sioux City brushes down the page.

It is the famous "Hearsay Stream" investment**.

Ji Run's heart trembled as he watched Su Cheng turn over the small half of the loose leaflet, and just when he thought there was no play, he saw Su Cheng stop again.

"Yahoo is good, I want to take more shares. Su Cheng looked at Ji Runzhi with burning eyes.

"No problem. "Ji Runzhi will know about Yahoo in '94, on the one hand, thanks to the developed research companies in the United States, and on the other hand, because one of the founders of Yahoo is Chinese. For the parent company in China, it is still advantageous for the founders to have members with familiar backgrounds.

Su Cheng was satisfied, and continued to turn down greedily.

$20 billion, even if half of it is kept, the remaining half can be invested in countless companies.

…… (To be continued.) )