Strictly speaking, the last two pages of financial reports are not professional financial statements at all, they are very concise, and many of the company's financial details cannot be effectively reflected. But for Tang Bao, who is too lazy to read and analyze the financial statements carefully, it is definitely the best "financial report", the key is that Horst has grasped the key points very accurately, and knows what Tang Bao cares about and what he wants to know, so it is very targeted.

"Hmm......"

Carefully browsing the statistical table of key stocks, as Horst said, he clearly listed the purchase price of the stock, the current price, the book profit and loss, the increase or decrease of equity and other data. Several stocks that have been increased in holdings are also deliberately marked in red to attract attention.

Arguably.

This statistical table really made Tang Bao feel comfortable to watch. Ordinary financial statements, he looked at them for a little longer, and he felt that his head was swollen, and he was uncomfortable.

"From now on, I'll make one every quarter." Tang Bao continued to look at the form, the more he looked at it, the more satisfied he became, and the smile on his face deepened.

"Okay, boss."

Horst happily agreed. He had created the form himself, and although it looked so simple that it might take a few minutes to scan it. But as long as you make this statistical table by yourself, you will understand that this simple table cannot be made in a few days, and it is really energy-consuming.

Now that I have been affirmed by Tang Bao, I feel that my hard work has not been in vain!

At last.

In the corner of the statistical table, a brief summary is also made.

"The total value of the 70 stocks is about $4.5 billion, with a book investment income of 189%. In the fourth quarter of last year, a total of five of these stocks were increased, including Microsoft, Coca-Cola and other companies......" After reading the final summary, Tang Bao's face showed a faint smile.

It's cool to look at this simple statistical table, straight to the point, and you don't have to think about it at all.

"Boss. It was really wise to buy these stocks last year, and these 70 stocks have risen by nearly 200%. If you remove the factors that later increase the cost of investing in stocks. The book investment income in the fourth quarter will definitely reach 200%. Horst said with a little regret that although the 189% investment return is already terrifying, Wall Street is not the only one who can create this kind of income myth, and this kind of dark horse with a return of more than 100% will spring up every year. However, it is difficult to see investment institutions that can break through the 200% rate of return.

"It's good to have this result. Hehe, if your peers on Wall Street know what you said, they will be so angry that they will jump out and strangle you. ”

"Hey......

Horst smiled awkwardly, he also felt that he was a little too greedy. Last year, because of the collapse of the stock market, many investment companies suffered heavy losses, and it is fortunate that they can guarantee that they will not lose too much. How dare you think about profitable things. As far as he knows, many well-known old investment institutions have been planted!

Tang Bao didn't care about Horst's inner activities.

He gently set the statistics table aside and moved on to another financial overview.

"The book profit of the stock investment department is 3.3 billion US dollars...... "Many stocks have plummeted due to "Black Monday", and Phoenix Investment Group has taken the opportunity to buy many potential companies and quickly drive the stock price to recover, so this kind of terrifying profit has a lot of chance.

After the stock price rises to the normal range, it will slowly stabilize, and then it will have reference value.

Therefore.

For the stock investment department, Tang Bao simply glanced at it.

"Futures Trading Department. a loss of $473 million; Bond Trading Division, with a profit of $602.2 million; The venture capital department made a profit of about $80 million (internal assessment). In the first paragraph of the overview, Horst finished the most important content.

"What does the internal assessment in parentheses at the end of the Venture Capital Department mean?" Tang Bao asked.

Hear the words.

Horst began to explain patiently. "Boss, the venture capital department is a long-term investment, and you need to wait for the target company to go public, sell shares, and completely exit. Only then can we calculate the actual return on investment. It's a long process, maybe years, or even decades...... But in order to guarantee the security of the investment. These investments are strictly monitored and regularly reviewed. The internal evaluation refers to the valuation given by the evaluation team of the venture capital department based on the market conditions, and the profit calculated on this basis. ”

"Hmm. However, this internal assessment is independently assessed by the venture capital department, and there may be a certain amount of water...... Don't take it all seriously. ”

Horst added.

He knew that the competition between departments was fierce, and for the sake of honor and bonuses, fraud could not be ruled out. But it's really hard to review the floating profit status of venture capital. Because it is difficult to estimate the potential value of every venture capital project unless it is tracked and followed for a long time.

"I see."

Tang Bao smiled lightly and nodded, as for whether there was water in the 80 million profit, he didn't bother to dig deeper. However, considering that the venture capital department owns 65% of Cisco Systems, this internal assessment should still be credible, and even if there is water, it will not be too much.

I took a few more casual looks.

The following is a detailed interpretation of the earnings of each department, and it can be said that Horst has roughly analyzed the financial statements for Tang Bao in the form of words.

……

It can be said that in addition to the huge losses of gold futures, the overall performance of Phoenix Investment Group is still very eye-catching, and if this financial statement is known to the outside world, it will definitely become hot news. Of course, Phoenix Investment Group is a private company and is not obligated to disclose financial reports to the outside world.

And......

This impressive record was achieved by seizing the stock market and stepping on countless corpses, and when it was known to the outside world, it was inevitable that it would be criticized by the media.

"Well, very good. However, such performance cannot be sustained for a long time, and I am afraid that the earnings of the next quarter will return to normal. In this regard, you also have to put your mindset right. After Tang Bao praised it, he reminded again.

Horst calmly replied, "Boss, I understand. ”

Suddenly.

Tang Bao thought about the economic development of the United States this year, and knew that the real estate and banking industry in the United States would encounter a cold winter, so he solemnly reminded: "This year, I feel that the real estate and banking industry will be cold, and you should pay more attention." Withdraw the investment that should be withdrawn......"

"Boss, you warned about this last year. And Phoenix Investment Group's investment in real estate and banking stocks is extremely low, so you can rest assured. ”

"That's good."

Tang Bao naturally remembered that he had reminded and even published an assessment report on the U.S. financial industry in a tabloid newspaper in the name of Chinatown Investment Services, pointing out that the U.S. real estate market was cold, triggering a crisis in savings and loan banks. It seems that a sum of money was spent on the purpose of publishing this report.

Everyone thought that Tang Bao had a setback in entering the evaluation market, and he wanted to save face...... No one paid attention to it, just treated it as a "joke". Tang Bao was afraid that Horst would have the same thoughts as everyone else, so he reminded him repeatedly.

"Hey, boss. This is the financial statement of the Phoenix Pioneer Fund, please take a look at it first. Suddenly, Horst took out another report and stuffed it into Tang Bao's hand.

"The statement of the Phoenix Pioneer Fund?"

Tang Bao stared at Horst in surprise, looked at the report again, and asked rhetorically, "Are you sure you are not mistaken?" "In the middle of December last year, the Phoenix Pioneer Fund officially began to put into operation, and it stands to reason that it should still be in the stage of testing the water investment, what can there be to report.

"There is absolutely no mistake, it is the financial statements of the Phoenix Pioneer Fund. Although it has been running for a short time, in order to facilitate the centralized audit of accounts, the financial reports of Phoenix Pioneer Fund are deliberately synchronized with those of the entire Phoenix Investment Group. Of course, the accounts are separated from each other...... After all, the accounts of the Phoenix Pioneer Fund must be disclosed to the outside world, and they will also be supervised by investors. Horst affirmed.

on this.

Tang Bao is understandable. However, it is only half a month of normal operation, and this financial report is not equal to nothing, and it can't explain anything at all.

Then.

Horst suddenly showed a sly smile and said in a low voice: "Boss, the original half a month's investment time is not a more outstanding achievement. However, at the beginning of January this year, there was a big gain, and several stocks held by the Phoenix Pioneer Fund have risen significantly. Two of these Japanese companies went public at the beginning of the year, and their stock prices have more than doubled in just a few days. It just so happened that the Phoenix Vanguard Fund bought a large number of these two new stocks. ”

"How's that going? January's earnings report should be included in the first quarter of this year! Tang Bao said helplessly.

"Hmm. This is the case under normal circumstances. However, because there is no review from you, the timing of the earnings release has been greatly delayed. We can add these results to the schedule...... Counting the floating profit of last month, in less than a month, the investment income has reached 35%. It is believed that investors' attention will be focused on the high yield of the Phoenix Fund, and not other than others. And it is listed in a supplementary table, and the regulator will not be able to grasp it even if it wants to! Horst gave his general thoughts.

"Haha. Okay, just do as you say! Tang Bao laughed and agreed directly. As a result of the S&P Ratings incident, many investors abandoned their investments at the last minute, which dealt a heavy blow to Phoenix Vanguard Fund. He needed to find an outlet......

"Boss. As long as this additional financial report is released, I believe that the investors of Phoenix Pioneer Fund will rest assured. Horst Road.

Reasonable!

Tang Bao squinted his eyes slightly and said: "This financial report should not only be shown to the investors of the Phoenix Pioneer Fund, but also announced to the public to boost the morale of the Phoenix Pioneer." ”

"Publicity?"

Horst said in surprise.

"Yes. And we should also hold a grand press conference, and invite as many news organizations as possible to spread the news......," Tang Bao said with a light smile. (To be continued......)