"It's so happy, it's too happy! It is worthy of being a leader in the financial and economic circles, and he has something to say, and he is to the point, come on, I salute you, today is really happy......

Li Tingli stood up, his face was full of excitement and excitement, Liu Lao saw Fu Zhengyi raise his wine glass and drink it all, there was no joy in his expression, but his eyebrows were still twisted, and he couldn't help but sigh. "Xiaofu, sometimes it's tiring to think too much. ”

Fu Zhengyi was stunned for a moment, and then nodded. "Yes, I understand the truth of Xu Ertu. But the problem is that the whole society is becoming impetuous, and everyone wants to be able to produce results immediately. The problem is that not rushing for quick success means being eliminated and marginalized, and if the crux of the contradiction is not solved, it is too difficult to make changes......

"It's always getting better, the problem will be solved after all, we must have confidence in development and the future!"

"Yes, I admit it. It's just that I'm a young man, and I'm anxious, so it's inevitable......"

Liu Laoguan'er, but he didn't expect him to use the word 'young' to respond, thinking that if he continued to be unrelenting, how could he properly remind him that some things are not what can be seen on the surface, and those dirty and transactions behind the scenes, where can he see and understand clearly at his age?

Li Tingli stood up and bowed to Liu Laowei to thank him. "Old Liu, this time I really have no choice but to move out of your big Buddha, and I hope you Haihan!"

"Tingli, my old man doesn't care about anything, the southwest side needs to go on big projects, need to produce results, you can understand the urgency over there, no one is unwilling to let the stock market improve for a long time, but the problem is that the problems left over from history are difficult to solve, new problems are constantly emerging, and the regulatory aspect is not a fairy......

Fu Zhengyi said with a smile. "Liu Lao, Director Wang's purpose is to participate in the additional issuance, but the problem is that the government's endorsement is endorsed, and the administrative unit's endorsement of the enterprise is inherently inconsistent with the law.

Liu Lao was happy. "Of course not! I always have to save some face!"

Fu Zhengyi spread his hands. "I want to save face, but I don't do it properly! Then there is no solution to this problem. If I agree to participate in this additional issuance, then the 1.5 billion yuan of funds will be precipitated. Even if it is only at a compound annual growth rate of 30 percent, if the value of this part of the equity cannot exceed 3.3 billion after three years, then there is no way to account for it!"

"Three Chinese New Year's Eve, three hundred million, how can there be so many?"

Secretary Tian saw that Liu Lao didn't seem to react, so he hurried over and whispered. "There are so many. With an annual growth of 30 percent, it will be 200 million yuan in the first year, 2.5 billion yuan in the second year, and more than 300 million yuan in the third year. ”

"It's the same as the old days?"

Li Tingli laughed. "Old Liu, you're right when you say that. The compound growth rate of the companies managed by Warren Buffett has not exceeded 20 percent in the past 40 years, but Buffett is widely recognized as the stock god with such achievements, because the stock price of the company he manages has increased nearly 8,000 times in the past 40 years! In other words, if anyone had bought Buffett's stock for $10,000 in 1965 and held it until now, the original $10,000 would have become more than $80 million......

Liu Lao 'Huo' sighed, looking very surprised. "Can it be this high?"

Li Tingli nodded. "If financial markets are stable and fair, then nothing is impossible. ”

The corners of Liu Lao's mouth drooped, and he looked depressed and couldn't say anything.

Fu Zhengyi picked up his glass. "Old Liu, don't worry. As you said before, we will definitely get better and better, even if the process will be tortuous, but the goal is clear and clear, the life of the people will get better and better day by day, and justice will come one day, only late, not missing!"

The essence in Liu Lao's eyes flashed, and he nodded slowly after a while. "Xiaofu, no wonder the two fund companies required complete autonomy at the beginning of their establishment, and both applied for the right to invest overseas, if there were no prerequisites, just a cemetery fund shareholding upper and lower limit of the problem, it would lead to the cemetery fund to abolish its martial arts! good! good! To achieve such excellent results, if you can't let some people be honest, then there is nothing worth advocating, encouraging, and proud......

"Yes, in fact, a lot of cemetery funds have been established in China over the years, but the problem is that the lower limit of the position has seriously restricted the development of these cemetery funds, and it has almost put these fund companies in a situation where there is no way back. The sadness of not being able to empty a position, the layman may not be able to understand, and there are indeed a lot of problems in investor education, resulting in the fact that the public fund must take into account the liquidity, take into account the problem of short-term large-scale redemption, even if it has the ability, but it cannot avoid the herd effect, and has to chase the rise and fall, and do its best to be high-net-worth, in exchange for a meaningless ranking ......"

"Oh, Xiaofu, are you very aware of the disadvantages of public funds?"

Since a lot has been said about the drawbacks, Fu Zhengyi doesn't care about saying more.

The public fund has been established for six years, and the scale has gradually expanded, but the problem is the congenital deficiency of the public fund, resulting in some excellent fund managers even if they see the problem, but there is no way to solve it.

Secretary Tian, who was in charge of the record, moved his pen like flying, his hands were sore, and his eyes were tired, but he still felt that he couldn't keep up with his train of thought, so he interrupted a little embarrassed while he picked up the teacup to moisten his throat. "Mr. Fu, are these all the problems that exist in the current public fund? This, this is too outrageous, right? Could it be that the establishment of the public fund is a mistake?"

"Secretary Tian, the establishment of public funds is an inevitable trend, there are many domestic retail investors, to put it bluntly, it is still a problem of trust and short-term bears, once these two problems are solved, retail investors will gradually withdraw from the market. The problems of the market are left to the market to solve, and whether the company can be listed or not is also left to the market to decide, and at that time, our stock market can not only develop healthily, but also become the vane of the world's financial market......"