In his modest office, Warren. Warren Buffett met with Dick. Fude.

This is a small room of about 20 square meters, and in the position of the windowsill is placed a desk that is obviously some years old, and it is said that this desk was also used by Buffett's father, so it is very old. On the other side of the room, there is a large bookshelf filled with a dazzling array of books, which are not just for display, as can be seen by the messy placement and the casual bookmarks.

Take a deep breath, Dick. Fude tried his best to make his expression natural, to make a look that was neither humble nor arrogant, although he had come to ask for help, but the years of prestige and high society had asked him not to grovel too much, so that the other party would look down on him.

Sitting on the wooden chair opposite Buffett, Dick. Fude smiled and said, "Warren, you still owe me money for doing laundry, remember?" ”

The silver-haired Buffett took off his reading glasses and looked at Dick with a suspicious face. Fude patted his head for a while and said embarrassedly, "Yes, Dick, I'm very sorry. I'm getting older, my memory isn't as good as it used to be, and I really don't remember some things clearly. ”

As he spoke, he pulled out his checkbook from his bosom, wrote a $20 check, tore it off and handed it to Dick. Fude, expressions and movements are natural. And on the other side of Dick. Fude also took the checkbook casually and looked at it again and again.

Speaking of Warren. Warren Buffett and Dick. Fude's personal relationship is not very good, both parties may have only heard each other's names, but there has been no business contact, and there is no good relationship in private, just nodding friends. Speaking of "laundry", it was at a reception held by the vice president that Buffett accidentally spilled wine on Dick. Fude's body.

"I wish you could be as generous as you are now. Write a check like this to my company too! "Flick the check, Dick. Fude solemnly put the paper in his arms and said with a slight joke, "Warren, I believe you should know what I mean, right?" ”

"Wow, if $20 will get you there. I don't mind writing a new check. Buffett replied humorously, and then said, "Dick, don't you think there are some things that should be told to me personally?" ”

During his stay in the city of Omaha, Dick. Fude did not immediately ask to see Buffett, but met with his assistants, friends and even neighbors, and uploaded his intentions to Buffett through various channels. At the same time, he also wants to understand Buffett better, grasp the other party's personality characteristics to formulate strategies, and see how to convince the other party.

Dick as a salesman. Fude understands the importance of preparation. Although he has not needed to go out in person for many years, he is still familiar with this set.

"Of course, won't I come now?" Although there was a slight reproach in Buffett's tone, Dick. Fude opened the situation with just one joke, "Warren, of course, the most important person should be put last, so that your importance can be reflected." ”

Buffett smiled and didn't say anything more. He pulled out a blank piece of paper and a signature pen. Start taking notes in earnest.

It took half an hour for Dick. Fude briefly explained the current situation of the Kaminari brothers and the problems they faced. Then he said very seriously: "Warren, this is actually a very good investment opportunity, and we can get out of this situation with only about $5 billion." I believe that after this crisis, Kaminari Brothers will soon be on the right path to profitability, and your investment will be rewarded handsomely. ”

Take off your reading glasses. Warren Buffett smiled and said, "Dick, you should also know that I need to be accountable to every shareholder of the company. While I'm also bullish on Kaminari Brothers' prospects, I do careful research and analysis before every investment. It takes time and materials, can you understand? ”

Seeing that Buffett had the intention of refusing, Dick. Fude hurriedly said, "Warren, I think you have misunderstood. Now I'm not looking to market my company, I'm trying to raise money from you. You can do this by borrowing a loan, buying preferred shares, or even looking at a long warrant. This approach is relatively acceptable to both of us. ”

"Although the market is very unfavorable to us, I don't bother to reveal a piece of news privately. The team from Korea Development Bank is in talks with us in New York about capital injection. They are interested in investment banking and want a piece of the pie. But if I can get enough money from you, there may be no need to continue negotiations with South Korea. ”

Obviously, Warren Buffett has no plans to get involved in investment banking, but if there is a good return on the investment, he will definitely not miss it. After careful deliberation for a long time, he offered his own conditions, "9% annual return of preferred shares, plus a portion of warrants." I don't need to look at the long warrants thing. $4 billion is an initial amount of investment that I can accept, which should be quite good. ”

"9% annual return...... Dick. Fude hesitated.

The rewards are quite high, and the conditions are very demanding, but because of Buffett's reputation, the business is still very worthwhile, at least in the eyes of insiders. You must know that if the news of Buffett's investment in the Rehmen Brothers spreads, investors who follow the trend in the market will definitely flock to it, after all, the prestige of the "stock god" is there. And the current situation of the Kaminari brothers under the siege of bears is also self-defeating.

There's no doubt that Warren Buffett can inspire confidence in the market.

But on Buffett's side, he also has his own considerations, and he doesn't trust the investment banking gang, which stems from a failed investment experience in the 90s. In 1991, when Salomon Brothers was in trouble, Buffett stepped in to save the company. But he soon discovered that Salomon Brothers' management had not changed the company's fortunes as he had hoped, but had instead brought the company to its knees after giving him a bonus of $900 million.

At that time, Salomon Brothers' top management even hid a huge amount of treasury bond investment scandal from Buffett, and it was this scandal that made Salomon Brothers completely finished. So Buffett is very cautious in his attitude towards the Wall Street crowd, and he can't risk his reputation.

At this moment, the phone at Buffett's desk rang. He looked at Dick seemingly nonchalantly. Fude at a glance. The other party immediately said with a sense of humor: "I need time to think about it." Then he walked briskly out of the office.

"George, is that you?" Warren Buffett was surprised when he heard the voice in the microphone, "I really didn't expect you to call me, this is really an accident." ”

The caller was George. Soros. Although he runs a hedge fund, his reputation is not weaker than that of Warren Buffett. But he admires Buffett's stock selection level very much, because the other party is a real value investor.

The two began to sympathize with each other in the 80s, and had a personal relationship because they often appeared at the reception banquets of celebrities, especially high-ranking officials, but at Buffett's investment annual meeting, Soros never appeared, because if he did, the sensational effect would be too great. In private, the two sides often exchange views on the macroeconomy, which is quite a bit of a hero's cherishing hero's flavor.

The relationship between these two world-famous top elites is quite good in private.

"I heard about Dick. Fude is looking for your help? After a brief pleasantry, Soros asked straight to the point. Warren, you're not going to invest in them, are you? ”

Dick. Fude stayed in Omaha for more than a week, during which he appeared in public countless times, and it was not difficult for anyone to catch his news, so Buffett did not have the slightest surprise, but replied lightly: "Is there any problem?" George? ”

Although they are very good friends, when it comes to investment, Buffett still has his own opinions. He is known all over the world. It shows that he is not a soft-eared person at all. So when Soros asked if he was interested in the Kaminari brothers, he just asked in a nonchalant way.

"Okay. Nothing was a problem. Perhaps realizing the other party's unhappiness, Soros's tone also softened a lot, "But Warren, I want to remind you that if you carefully read the Kaminari brothers' financial report last year, you should make the right choice." ”

"Are you shorting them?" Buffett's reaction was also quick. Immediately realized the purpose of Soros's call, "So the 'rumors' in the market are not rumors, but that there is really a big problem with the Kaminari brothers?" ”

"Yes!" Soros said with great certainty, without the slightest concealment or hesitation, "People on Wall Street can't believe it." The lessons of Brother Solomon are the best example of this. Believe me, Warren, investing in Kaminari Brothers is definitely not a good choice. Moreover, I am indeed shorting the Kaminari Brothers aggressively right now, and there are very large numbers. ”

"Don't forget, you're also from Wall Street!" Buffett replied lightly, and then hung up the phone. Soros's words made him feel uncomfortable, but it was a fact, so he could only stab the other party lightly.

In his dealings with Soros, he has never expressed his opinion on any individual stocks, but today is the first time. Warren Buffett, who is well aware of Soros's personality, is aware of the seriousness of the situation, but he never believes these judgments, he needs to draw his own conclusions, a conclusion that can be trusted.

That's when Dick. Fude pushed the door in, he estimated that the phone should be finished, and after entering the door, he saw that Buffett was frowning and pondering, and couldn't help but smile and said: "Warren, your mention is very tempting, but now I can't decide alone, so let's wait for me to discuss it with the directors and see if we can reach a final consensus." Within three days, we will give you a clear answer. ”

"Okay, no problem!" Buffett absentmindedly replied, "Again, I need time to learn more about your company." ”

Dick. Fude was stunned for a moment, but didn't say anything more, smiled and shook hands with the other party, and then walked out.

……

"There's a problem here!" "There's a problem here, too!"

That evening, Buffett decided to start poring over last year's Kaminham Brothers' financial statements, and he began to flip through the pages of stacks of financial statements that were 7 centimeters thick piled up in front of him.

He has a habit of recording the number of pages when he sees a problem in a financial statement, which is then presented to the management of the corresponding company for them to explain. And if there are a lot of problems, even if the top management of these companies can explain it, Buffett and his team will be very cautious about these companies.

It stayed up until the early hours of the morning, when the eastern sky was white, that Buffett read all the thick stacks of financial statements. He didn't even have time to stretch his waist when he was shocked by the contents of the other side of the record paper, which was all page numbers, that is, the problems with the financial statements.

Such a company is really not worth investing in! Warren Buffett said to himself. (To be continued......)

PS: Thank you book friends Nanquan 99, Lei LSQ, Amy, Super Power Kaka, Peterwu2008 for the monthly ticket! Thank you for the miracle of civilization of Xiaoqi, my money! R1292