After the fund was sealed, Su Yu sent away the staff of Huashang Bank.

Then I looked at the time and found that it was already 6 o'clock in the afternoon when I got off work, and I couldn't help but suggest that everyone go to eat hot pot together to celebrate.

It had been a busy day, and everyone was a little tired.

But at this moment, the company's first seed fund raised far more than expected, and the opening event was a great success.

For a while, they were also very excited, and they agreed to Su Yu's proposal.

After everyone agreed, at about half past six, everyone came to a hot pot restaurant near the company, and then celebrated with each other, and at about 8 o'clock, they dispersed.

"400 million, it's really beyond expectations!"

After eating, on the way home, Li Meng still felt like a dream, and glanced at Su Yu in the co-pilot seat: "We originally expected to have a scale of 200 million to 250 million, so we were very optimistic, but the result was almost doubled." ”

"A total of 162 investors." Su Yu smiled and said, "It's really beyond expectations." ”

He originally thought that with his current influence and connections, and under the threshold of 1 million funds, it would be almost enough to gather 100 investors who trusted him in Yuhang.

I didn't expect ......

The result was about 50 percent more than he expected.

Of course, this is still a situation where private funds are limited by fundraising rules and cannot be publicized and attracted investors like public funds.

If you can publicize it publicly, borrow the power of online media.

Use the influence of his seat.

Su Yu estimates that it is not impossible for the investor crowd and the scale of fundraising to rise by one or two times and reach the threshold of 1 billion.

However, in terms of the scale of 400 million, it is enough.

After all, at this time, the total turnover of the two A-share markets is less than 50 billion, and if he uses a capital scale of 400 million to do the short and medium term, in fact, it is not a small volume in the entire market.

Also, it's easier to do business on a small scale.

You can't make a big fat man by eating in one bite......

As long as the performance of the first fund is done well and the reputation of the company's asset management spreads, then it is easy to raise the next fund and do scale effect even if you don't need to publicize it.

After all, for investors, being able to make money is the most important thing.

As long as investors can make money, the difference in scale between the two caused by some differences in rules between private and public offerings is not a big problem at all.

"There are more than 10 people in your customer base today, right?" Su Yu sighed with emotion and looked at Li Meng's side face with a smile, "It seems that the image of Li Da Beauty among these big customers is still very powerful." ”

When Li Meng heard this, his face flushed slightly, and he said, "Where are they running for me?" Fundamentally, it's about staring at your money-making effect. ”

"I didn't say ......"

"If you dare to send out the account delivery orders of Yang Hao, Mr. Liu, and Mr. Wang, who are in charge of you, to solicit customers."

"I'm afraid that today, the threshold of our company can be broken, not to mention 162 investors, even if it is 500 or 1,000 people, I am afraid it is possible."

"No need!" Su Yu smiled and said, "Let's not talk about this delivery order, it's a very personal thing, even if we can attract so many people, the scale of the first fund can explode to 1 billion or 2 billion, in my opinion, it's not much different from now." ”

"Besides, propaganda like you said is somewhat illegal."

"Before, I personally didn't care......"

"But now that we're on the right track, with the company as the main body, it's better to be steady."

"The scale of 400 million funds, not big or small, in the current market, it is the stage when the net value is the easiest to grow and the scale is the easiest to operate."

"If the fund starts with too big."

"In the current weight market is very sluggish, and the funds are completely around the GEM in the case of movement and speculation, it is still very difficult to improve performance."

"And the fund size of 400 million, there is no such thing."

"The amount of funds at this level, with the market concept speculation as the main line, can still be accommodated."

"Do you think that the company's start-up stage, performance, or more important than scale?" Li Meng roughly understood his thoughts, and couldn't help asking.

Su Yu nodded slightly and said, "This is inevitable. ”

"Public offerings survive on scale, while private placements ...... If you want to become bigger, then the foundation of performance is undoubtedly the absolute first element. ”

"...... compared to the initial scale effect"

"The performance of the first seed fund is more important for the company's future development."

"As long as the performance improves, the first batch of investors make money, and the word-of-mouth effect is transmitted, then it is simply easy to do scale effect in the future."

"Instead......"

"If the scale of the first seed fund is large, the investment manager is limited by the investment path under the ability and scale effect, and cannot make a good performance in the short term."

"Then, investor confidence will inevitably decay step by step."

"And when investors no longer trust, then let alone the scale growth in the future, it is good to ensure that the current scale is not reduced and the company continues to operate stably."

"So, starting small, sometimes, is an advantage."

"Hmm!" Li Meng responded, and said with a smile, "I'll just talk about it, in fact, a single fund, the scale of 400 million, under the current market pattern, is not small, I checked a few days ago, the current market has not been liquidated, and among the tens of thousands of private equity funds that continue to operate, the scale of hundreds of millions is actually less than 10%, of course...... In public funds, this proportion will be larger, but on the whole, the scale of a single fund can reach hundreds of millions, which is already in the front stage of the scale of the private equity industry. ”

In terms of what she expected.

She thinks that the company's first seed fund can cross the scale of 100 million, which can be regarded as a success.

After all, with the scale of 100 million yuan as the dividing line, serious operation, and relying on the collection of management fees, can also make the company barely operate.

What's more, in the fund operation stage, the company can also carry out other wealth management business on behalf of customers.

to increase revenue and profits.

Of course, in the event of exceeding expectations...... The scale of fundraising is naturally as large as possible.

After all, the larger the scale of fundraising, the more management fees the company can collect within a certain period of time, and the smaller the risk of natural operation.

"Private markets, is it so miserable?" Su Yu was surprised.

He hadn't checked the data in this area, but he knew that the market had gone through a bear market for five or six years, and the private asset management industry must have been miserable.

I just didn't expect a single fund size of 100 million.

It can be ranked in the very front position of the entire unliquidated private equity fund.

Gu Yu

"It's not just the private equity industry that's miserable, it's also the public offering." Li Meng said, "Compared with the scale of asset management at the peak of history, the overall asset management is only less than one-fifth. ”

"It has long been the norm for banks and brokerages to not be able to sell their internal funds."

Speaking of this, Li Meng glanced at him slightly, and said with a smile: "These ...... When you are in the sales department, you should have a feeling, and it is basically difficult to meet the monthly fund sales target. ”

Su Yu smiled and said: "This is the characteristic of the bottom of the market, the fund can't be sold, investors are desperate for the stock market, the vast majority of stocks are falling endlessly, whether it is public or private, they are in an absolutely low position operation state, and they can't bear the liquidation of the fund, one by one, the market is good, but the negative is infinitely magnified...... Everything, all signs, shows that expectations have become pessimistic to the point of no return. ”

"And the expectations have become so pessimistic that they can't be more pessimistic."

"So, what's next...... In the long run, there is only one way to go, which is expected to rebound. ”

"In terms of emotional expectations, this is indeed the case." After Su Yu's adjustment during this time, Li Meng also began to pay more and more attention to things like market sentiment, and said with a smile, "But if you want to talk about reversal, there should be no signs yet, and the direction of macroeconomic breakthroughs, I still think that it is difficult to support the 'mobile Internet' and 'smart machine terminal reform' alone, and there must be a greater direction......

Su Yu smiled and said, "Reversal, naturally not so fast." ”

"But when the market reverses for sure, the market will always bounce back first."

"Moreover, the beginning of any market cannot be clear from the beginning, the so-called 'market is born in despair, reversed in haze, peaks in certainty, and ends in madness', this is the truth."

"In the general direction, look slowly...... It should come out. ”

In his impression, the adjustment of the economic macro route, although there are twists and turns, but before the domestic birth rate has ushered in a turning point, it has always been driven by 'urbanization construction', using real estate, infrastructure, and urban living consumption to stimulate the economy......

As the market investment sentiment slowly recovers, it will definitely perform again, and it will continue through the bull and bear.

"Hmm!" Li Meng continued to respond, paused, and said, "As for what you said, there is a high probability that this should be the bottom of the market, I agree. ”

"But on the flip side, I'm really not that optimistic."

"However, from the perspective of all aspects of life, even if the macro economy cannot accelerate again."

"The full popularization of smart devices, 4G has promoted the development of the 'mobile Internet' field, and even through the mobile Internet associated mobile games, mobile Internet finance, and the marginal expansion of almost all traditional Internet fields...... These investment directions and opportunities should be quite certain. ”

"After all, you can see everything from just one 'apple'."

Su Yu bowed slightly: "The most certain investment opportunities are often hidden in life, the development of 'mobile Internet' and its potential explosive power, is now in a situation that has just been revealed, naturally it is relatively certain, and you can rest assured to participate in the main line of the market." ”

"As for the rest of ......"

"Industries and stocks that carry out scale expansion and business expansion with the outbreak window of 'mobile Internet' can also pay attention to and participate."

"So...... Next, after the fund is closed, the goal of opening a position, and the main line of operation in the future...... "Li Meng asked, "Or is it on the core main line of 'mobile Internet'?" ”

Su Yu nodded with a smile and said: "Since all aspects of market funds and living needs are strengthening the promotion and development of this main line, there is no reason why we should not choose this main line to do it, and ...... The entire 'mobile Internet' field is a very broad concept, which can accommodate a lot of money in it. ”

"Since it has become the main investment line with the greatest certainty and the most explosive potential in the current market."

"Then, within the range of funds it can hold, we only need to select stocks with the strongest marginal effect, the highest performance elasticity, and the greatest future potential to open a position."

"Sitting on the strongest tuyere......"

"Even if the timing and stock selection ability are poor, it will be carried by the wind a long distance."

"That's why I said that in long-term thinking, industry selection is far more important than individual stock selection."

"The main line is selected on ...... I have no objection. Li Meng agreed with Su Yu's investment philosophy and said, "So, what about the specific stock target selection and the overall operation idea?" ”

"Current Market ......"

"As you said, market funds have chosen this main line as a market breakthrough."

"This can be seen from the fact that the hype path of the entire GEM has been revolving around the 'mobile Internet' derivative concepts and industries of 'mobile payment, mobile games, wearable devices, mobile network services, and Apple's electronics industry ......chain' since Shanghai is weak and deep for nearly half a year."

"But because of market funds, we have seized this line and speculated for almost half a year."

"As a direct result, the core growth stocks and concept stocks in these concept industries are basically all at a high level, and their valuation levels are at least 30% or even twice as high as the entire market."

"Let's say, we're a few months ahead, even if it's just two months."

"If you open a position in April and participate in these main lines, you will have a good position to intervene."

"But now in the face of these stocks that have been speculated to the sky by all kinds of funds in the market, let's enter the market again, even if these tickets still have a lot of room for imagination and expectation, I am afraid that the short-term huge drawdown is inevitable, and it is easy to cause an initial adverse impact on our fund."

"It's a matter of timing and vision." Su Yu said, "If the expected space of a check is ten times, then it is nothing to bear a 30% or 40% callback." ”

"As for the initial adverse impact on the fund."

"You're saying that the initial drawdown will take a toll on the confidence of those investors who invested in us, right?"

"But you have to think that the lockdown period is one year, as long as we are not wrong in the investment strategy and strictly implement the operation method, then the customers naturally have nothing to blame."

"Investment, tied up, is not good."

"I'm afraid to buy high, I'm afraid to sell low, and I often end up ...... You can only miss opportunities, miss profits, and get nothing. ”

"And ......"

"Recently, in the market, due to the misjudgment of financial institutions, the market has suffered a serious shortage of money."

"As a result, the stock market has been in a downward channel for nearly half a month, whether it is a large institutional holding, or many private equity funds and floating funds in the market, they have been dragged down by liquidity and are constantly selling."

"Many core stocks, in this half month, can be described as a violent retracement."

"Although these tickets, active funds in the entire market, are still converging on the speculation near the main line of 'mobile Internet', and it is impossible to fall back to the launch platform in the first quarter, but this is also a good time to enter the market."

"Investment cannot demand that all entry and exit opportunities are perfect."

"In the world of investment transactions, sometimes obscurity is far more important than perfectionism."

During the discussion between the two, the car had already arrived in the garage, Li Meng parked the car in the parking space, and then got out of the car with Su Yu synchronously, and walked into the elevator, still recalling some of what Su Yu said in his mind.

She originally thought that her investment level should not be too far behind Su Yu.

But now, after a period of guidance and communication from the other side.

She realized that the gap between herself and the other party, whether in theory or practice, was not a little bit.

"As for the trading operation ideas you just mentioned...... Su Yu picked up the previous topic in the elevator and continued, "With a capital of 400 million, it is unrealistic to use the short-term operation method to increase the net worth like I did before." ”

"After all, in the current market, the concept of hot stocks can be dialed in four or two."

"At least before the market investment sentiment has not fully recovered, and the market turnover has not exceeded 100 billion transactions, there will basically not be such a large circulating volume that can accommodate a single investor and 400 million yuan in and out quickly."

"So, in terms of operation selection, I'm afraid there are still two steps."

"In two steps?" Li Meng was a little puzzled, not knowing what he was referring to, and asked, "Which two steps?" ”