v3 Chapter 778： Buffett's helplessness

Although he had learned about Xia Yu's information from the materials before he came, Buffett was still inevitably shocked by seeing Xia Yu's young appearance.

However, he is already fifty years old, and he can hide his true thoughts well.

With a kind smile on his face, he said, "Mr. Xia, I take the liberty to interrupt this time. It may take some time for you."

Xia Yu smiled and shook his head: "Mr. Buffett is polite. Actually, I wanted to contact you a long time ago and learn from you some investment experience. It's just that the company has just established a branch on Wall Street during this period, so there are more things.

Buffy said: "I can understand that the initial stage of the company is the busiest."

"Mr. Buffett, your coffee!"

"Thank you!"

Xia Yu took a sip, put down the cup, and calmly looked at Buffett and said: "Mr. Buffett, I have heard of your reputation a long time ago. You are a very investment-minded investment master, Berkshire. Saver was just a textile factory on the verge of bankruptcy, but in your hands, it turned around perfectly and became a dynamic financial company, which is extremely rare on Wall Street!"

Buffett smiled and seemed to notice Xia Yu's attitude. He humbly said: "No, there are many accidental factors in my success. Several times my company almost went bankrupt. It was just that someone happened to help or was lucky."

Xia Yu smiled, skipped this boring topic, and suddenly said: "Mr. Buffett, you are here this time to ask why we suddenly bought shares in Berkshire Hathaway?"

Buffett didn't expect Xia Yu to take the initiative to say this. This could not help disrupting the scene he had originally expected. He suppressed the fluctuations in his heart, looked at Xia Yu with scorching eyes, nodded and said, "Yes!"

Xia Yu smiled and said: "I have just said that because I am very optimistic about your investment philosophy. I believe that under your management, Berkshire Hathaway will develop very well. It just so happens that I also want to talk to you. Make a friend, so use this way to show your support and recognition!"

"I'm sorry, it seems to have caused you trouble."

Buffett raised his brow, he didn't expect Xia Yu to say that.

He stared at Xia Yu directly, as if he wanted to confirm the authenticity of Xia Yu's words. Xia Yu smiled lightly and looked at Buffett calmly.

A few seconds later, Buffett smiled brightly and said: "It turns out that it is. Thank you Mr. Xia for your approval. This is my honor. I am very happy to be friends with you!"

...

"Mr. Xia, can I know how many shares Polaris Capital has purchased now?"

Xia Yu did not report the purchased shares to the NYSE in time, so Buffett did not know that Polaris Capital already held 5.1% of the shares and it was normal.

Xia Yu didn't hide it, and said frankly: "Mr. Buffett, now our company already holds 5.1% of the equity."

Buffett's eyes condensed, and he said with a smile: "It seems that there will be an important director in my company. This is really a happy thing."

After laughing, Buffett suddenly asked: "Mr. Xia, can I know how many stocks you plan to buy?"

After speaking, Buffett stared at Xia Yu closely.

Xia Yu smiled indifferently, thought about it and said slowly: "Mr. Buffett, please rest assured that I am friendly to you, so I can tell you our company's plan. The original plan was to buy Berkshire Ha With a total of 10% of Saway’s equity, the plan remains unchanged."

Buffett's expression suddenly eased, and he didn't know if he believed Xia Yu's words, he smiled and said, "Is that so, then I'm relieved."

Then, he laughed at himself and said: "Mr. Xia, let you see the joke. To tell you, I do have some fears about Polaris Capital. After all, your company is strong and fully capable of acquiring our company. Kirill Hathaway is the most important part of my life, so I have to be nervous."

Xia Yu nodded and smiled: "I can understand. I'm sorry that our sudden behavior caused you trouble."

"I believe that in the future we will get along very happily."

"Before coming, I still had concerns, but now, I am completely relieved, and wish us a happy future cooperation!"

After letting go of the worries in his heart, Buffett was in a good mood. He seemed to want to learn more about his upcoming partners. He and Xia Yu continued to chat for a while, and then invited Xia Yu to play golf the next day. Xia Yu readily agreed.

The next morning, the United States National Golf Links Course.

Xia Yu was dressed in sportswear, and saw Buffett waiting at the gate of the court. After a short greeting, the two entered the court and played golf.

Although Xia Yu was young, his skillful golfing skills surprised Buffett and praised Xia Yu's superb skills.

Playing golf, chatting about the latest news of the New York financial market, or discussing the financial situation in the United States.

No matter what topic it was, Xia Yu could talk about it, it seemed that there was nothing he didn't know.

After playing for a long time, it seemed that he was a little tired, and Buffett suggested going to the side to rest for a while.

The two leaned on comfortable recliners, and the soft sunlight poured down from the blue sky, and the shining person was warm, the breeze blew, and the fragrance of the grass came.

"Mr. Xia, I don't know what you think about the insurance industry?"

After taking a sip of juice, Buffett suddenly looked at Xia Yu and asked.

Xia Yu raised his eyebrows, looked at him, and said: "After the Second World War, the insurance industry market has been expanding. The peak period was in 1977. Non-life insurance direct business premiums grew the fastest, reaching 20% ​​at one time. , The premium of reinsurance business has increased by more than 25%."

"However, after 1977, the development speed of the insurance industry began to decline rapidly. According to the current trend, it will definitely be lower next year, and there is even a high probability that it will continue until the next two years."

Xia Yu's judgment made Buffett frown. He thought for a while and said to Xia Yu clearly: "Then Mr. Xia, do you think the company's investment in the company needs to continue?"

Could it be that where the wind is missing?

Or Buffett's simple temptation?

Several thoughts flashed in Xia Yu's mind.

He thought for a while, considering how he would get along with each other, he simply clarified the matter in advance, and said: "Mr. Buffett, I personally think that Berkshire Hathaway should have less investment risk with limited capital. company of."

"Let’s tell you that, before paying attention to Berkshire Hathaway, we just wanted to buy an insurance company, but you also know that the insurance industry is mostly the core industry of major consortia, so our company paid attention to the company. , He commissioned Merrill Lynch to buy it."

"That is to say, Berkshire Hathaway was discovered among the company's shareholders. After further understanding, I decided to buy the equity of your company."

"You ask, has Merrill Lynch already approached you?"

Buffy nodded and said: "Yes, Merrill Lynch has come to the company three times, but I didn't expect that you wanted to acquire the company."

"You just said that the growth rate of the insurance industry will continue to decline, so why do you want to enter the insurance industry? Or do you look for companies that are stuck in the quagmire?"

Xia Yu smiled and said, "It is because of the decline in the growth rate of the insurance industry that it is easier for us to enter. Isn't it easier to acquire companies at a loss?"

"As for the investment risks and losses brought about, our company does not care. We can afford the money. If the company is a healthy company and we want to acquire a wholly-owned company, the difficulty and cost will be twice as large. Higher than the current risks and losses."

Xia Yu's remarks can be summed up in one sentence. I know the company's losses and risks, but our company is strong and doesn't care at all, as long as we can buy the company.

This kind of rich rhetoric made Buffett wonder what to say.

At this moment, he was a little mixed, and when he met someone like Xia Yu who played cards in an unreasonable way, he still took money and used capital to crush him. He didn't know what to say.

For a long time, he said with the last glimmer of hope: "Mr. Xia, do you have to buy the company wholly?"

Xia Yu nodded and said naturally: "Of course, only when we acquire wholly-owned assets, we can invest hundreds of millions of dollars to transform, and it will even be easier to acquire other insurance companies later. This involves Polaris Capital's long-term strategic plan in the insurance field. ."

Well, I have invested hundreds of millions of dollars in transformation at every turn, and I am also preparing for subsequent acquisitions.

Each of these moves requires a lot of dollars ~ www.novelhall.com ~ Berkshire Hathaway does not have the capital to follow.

In other words, even if Berkshire Hathaway keeps its equity, if it does not invest a large amount of capital, it will be diluted step by step.

But Berkshire Hathaway’s funds are already tight. If it gets stuck by this, then it really won’t be able to invest in accordance with his philosophy.

And Buffett has also thought about the positioning of Berkshire Hathaway. To enter the insurance industry, a core pillar is definitely needed. Now obviously the company cannot become a core pillar. Holding a little equity will become a tasteless or even a burden. .

"Well, I have to say that Polaris Capital is very strong."

Buffett smiled helplessly, and decided to abandon the company in his heart.

Xia Yu smiled and said softly: "It's okay, the major shareholders behind are not short of money, and the billions of dollars of funds are still taken out."

As soon as he said this, Buffett couldn't help but smile, and envy rose in his heart.

"All right, I know what to do, we will give up the company's equity."

"Thank you Mr. Buffett for your accomplishment."

"If there is anything we need to help in the future, I will be happy to help."

These words of Xia Yu made Buffett's bad mood a lot better. He smiled and said, "Thank you, Mr. Xia."

"No thanks, we are friends and we should help each other."

"Yes, we are friends..."

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