Chapter 498

As a well-known financial company in China, although Shengxin capital is not as terrible as Sequoia and Gaoling, it still has a 36 storey headquarters building in Dongpu, Donghai.

At this point.

In the conference hall on the 23rd floor of Shengxin Donghai headquarters, elites from branches all over the world gathered together, about 50 people.

Deng he and Zhou junchu are among them.

"Unexpectedly, Zhang is always younger than it looks in the picture."

Looking at the man presiding over the meeting, like most people present, Zhou junchu's eyes showed naked longing and admiration.

Zhang Yanqing.

CEO of Shengxin capital.

I'm only 38 years old.

Confident and elegant, all over the body exudes the strong charm of a mature man.

The ring finger of his left hand was wearing a conspicuous diamond ring, but this did not affect the light in the eyes of some female staff at the scene.

Women's feelings have always been born from looking up.

Men like him do have a fatal attraction to women.

"Everyone can come here. The representatives are excellent talents from various branches. They must be quite familiar with the business part."

Zhang Yanqing smiled and said like a spring breeze, "today, we won't talk about anything else. I want to ask you a question. What's your biggest gain in entering Shengxin capital?"

Voice down, everyone, look at me, I'll look at you.

People who can mix in the financial industry will not have a low IQ. If they can break out of the siege and come here, they are naturally the best of smart people.

Everyone knows that if he can leave an impression in front of president Zhang, it will be of great help to his career future.

"The biggest gain from entering Shengxin capital is that I'm afraid I won't be cheated in matters related to money all my life."

A female employee summoned up the courage to see that the CEO actually remembered herself. Cai Juan was very excited. Her face turned red and nodded hard.

"Yes, Mr. Zhang, I didn't study finance, but I really learned a lot after three years in the company. Learning finance may not make us richer, but it can help us avoid being cheated as much as possible."

Zhang Yanqing nodded and motioned her to sit down.

"Cai Juan was right. Basically, in college finance classes, she would take this sentence as Zhang Yanqing nodded and motioned for him to speak.

Zhou junchu, who had been preparing for a day in the hotel, took a breath secretly.

"After entering the company, I learned or felt the most, there are three points."

He said calmly: "first, capital is profit seeking, and there must be arbitrage where there is a price difference. Second, capital needs to tell stories, and the business model needs to be verified by the market. Third, the economy is cyclical, and the industry is also cyclical."

Zhang Yanqing's eyes showed an interested look.

Seeing this, Zhou junchu seemed to be encouraged, and his voice became more calm and powerful.

"I am different from my colleague Cai Juan just now. I came from a financial department of undergraduate course. After graduation, I entered Chengdu Branch. Now I am an investment analyst. I look at stocks, bonds, IPO and PE. It has been two years. Until now, I understand what the professors said when I was studying: capital is profit-seeking. When I switch from the perspective of ordinary people to the perspective of investors, I see To two different worlds. "

Everyone began to concentrate.

"Take education and commercial real estate as an example. I have contacted many educational listed companies, that is, to set up schools. An ordinary people or a parent, of course, they hope that the lower the tuition fee, the better, and the lower the student teacher ratio. However, from the perspective of school organizers and investors, we hope that they can raise the tuition fee at a higher level than their peers every year. We pay attention to every aspect of the school How many more places can be added in, how many dormitories can be expanded each year, how many pieces of land can be bought and how many schools can be built in the next two or three years, so as to make a valuation model for enterprises, which depends on both endogenous growth and extension potential. "

"For commercial real estate, we pay attention to the rent level and rental rate of operators. Some time ago, I attended a performance meeting of a listed real estate trust. Investors are most concerned about how much the rent of the company's office buildings can rise this year. The management said to the investors sitting below that their office buildings in a first tier city are already the highest in the city, and they will continue to be excellent From the perspective of merchants, they certainly hope that the lower the rent, the better, but from the perspective of capitalists, they prefer to see the rise of the company's rent and the growth of the company's performance. "

"From this point of view, capitalists and ordinary people are always opposite. Capital is profit seeking, bloody and without any feelings."

"Capital needs to tell stories, and the business model needs to be verified by the market. This is feasible for non listed companies and for listed companies. In the primary market, we take shared bicycles as an example. Shared bicycles first appeared on campus in 14 years. At first, they were a bicycle for students to share. Later, they were gradually introduced to the market, and became popular in the whole capital market in 16 years."

"At that time, entrepreneurs told investors that bike sharing was the best tool to solve the last kilometer, and there was still a huge market to explore in China. At that time, entrepreneurs told stories to capitalists. Early venture capitalists such as Jinsha venture capital, IDG and Sequoia... After they went in, they kept telling stories for bike sharing in order to solve the problem, so they put the whole story (bubble) The more you talk about it, the bigger it gets. In 18 years, when bike sharing people closed down one after another and the number of bike sharing was limited in first tier cities, bike sharing gradually came down from the altar. From the popular trend to the wanton stacking of waste. "

"Bike sharing has become the biggest bubble in the capital market in 2018. Looking back at the whole development process of bike sharing, it is not difficult to find that at the beginning of the story, entrepreneurs wrap up the story and tell it to investors. After investors enter the market, let alone whether the final business model works or not. Let's learn more about the pie painting."

Zhou junchu was eloquent and eloquent.

Zhang Yanqing looked at him with more and more interest in his eyes.