My Age of Investment

Central.

The 49th floor of the second phase of the International Finance Center.

Li Ying, who was standing, was trembling slightly as she looked at the newly released materials.

Xia Jingxing frowned, "Can you stop shaking? Just read it to me."

Li Ying took a deep breath, collected herself, and said seriously: "As of today, Bailu Fund has bought a total of 215.04 million Penguin shares from the secondary market, accounting for 12.8% of the total share capital of Penguin Holdings.

The average position price per share is 12.61 Hong Kong dollars, and a total of 2.712 billion Hong Kong dollars has been used.

The current Penguin stock price is HK$7.05, and our book has a total floating loss of 1.196 billion, which is nearly 1.2 billion Hong Kong dollars. "

"Oh, it's only 1.2 billion!"

Xia Jingxing was already prepared for a temporary loss of 2 billion, only 1.2 billion, much better than he expected.

When the first disclosure email was sent to Hong Kong and Penguin held a press conference, Xia Jingxing knew that Penguin was going to make a move, so he gave Liu Hai a hand.

After the stock price plummeted, he jumped out to grab a lot of chips.

4.99% of the shares in their hands were bought secretly before, and the average holding price was more than 8 Hong Kong dollars;

The second part is that the first letter was sent to the United States, and it was bought during the half-month prime time when it was sent to Hong Kong, with an average holding price of more than ten Hong Kong dollars;

The last part was grabbed during the Penguin stock price crash, and the average holding price was similar to the second part.

In short, the average price of 12.61 Hong Kong dollars is still in line with Xia Jingxing's psychological expectations, and it is not high. After all, the 50% premium he offered to MIH has already reached 12.57 Hong Kong dollars per share.

Now that I do it myself in the secondary market, I only spent 0.04 Hong Kong dollars more per share, and when converted into the total transaction price, I spent more than 8 million Hong Kong dollars more.

In the final analysis, his amount of funds is still too large, while Penguin's public shares are few.

If you just stay at the 4.99% position line, you don't have to spend so much trouble.

If you want to buy more stocks from the secondary market,

The penguin's sniping, the market's following suit, and the institutions taking advantage of troubled waters... a large number of factors have to be taken into consideration.

Duck Neck was also taken aback when he heard such a large book loss, and asked, "How come Penguin's stock price has fallen lower than before, to 7 Hong Kong dollars."

"Don't worry, it's just a temporary drop. When time passes or Penguin's business situation improves, it will rise back sooner or later."

Li Ying sighed, "But Mr. Xia, there are a lot of negative comments on you from the outside world, thinking that you have suffered a serious setback in the Penguin stock and lost a full 1.2 billion! There are even worse things to say... "

Xia Jingxing glanced at her and said with a smile, "Tell me about it."

Li Ying shook her head, "Let's not talk about it! Anyway, it's not very pleasant."

"If you don't tell me, I can guess. Are there retail investors scolding me? I took them into a big pit and lost a lot."

Li Ying was surprised, "Have you read the news?"

Xia Jingxing waved his hand, "Don't look, this is the consistent character of retail investors. If you make money, you are a stock god. If you lose money, you are a cat or a dog. Greetings to your eighteen generations of ancestors.

It doesn't matter, Buffett has been scolded.

If you want to become a stock god, start by getting used to being scolded.

This investment in Penguin will not show results within a year and a half.

But if you extend the time to two, three, or even longer, you will see the effect.

What we do is value investing, not short-term operations, and we don't have to care about temporary gains and losses, and the noise from the outside world. "

Seeing that Xia Jingxing was so calm after losing 1.2 billion, Li Ying secretly admired it.

Even if he is a rich man worth tens of billions, he may not be able to be so calm and optimistic in the face of such a large loss.

"Mr. Xia, Bailu Fund spent 2.712 billion Hong Kong dollars, equivalent to about 350 million U.S. dollars, for the 12.8% equity of Penguin. We are running out of funds left."

Li Ying looked at Xia Jingxing, implying that she wanted to replenish funds.

“It usually takes two to three years or even longer for a PE fund to raise enough funds to complete its investment.

Hasn't the Bailu Fund not yet found a suitable project? It's like saving money in the stock market, which has higher interest rates than banks.

When you encounter a suitable project, you will use the remaining 150 million US dollars first, and if it is not enough, you will pledge a part of Penguin's equity. "

Xia Jingxing now also feels that he is short of funds, so he can only ask Li Ying to use financial leverage.

"Equity pledge."

Li Ying murmured that this is also a common method used by funds, which can increase the cash flow in their hands, and it is used by funds that want to earn high returns.

It's just that the benefits are big, and the risks are also big.

Just like building blocks, if one piece collapses, the others will collapse in a row.

After the meeting ended, Xia Jingxing received a call from his father.

As soon as the phone was connected, an anxious voice came from the other end: "I read in the newspaper that you lost 1.2 billion Hong Kong dollars in stocks? Converted into RMB, it is 1.25 billion. Is this a problem?"

At this time, the Hong Kong dollar to RMB exchange rate was 1:1.04, and the RMB surpassed the Hong Kong dollar in 2007.

Xia Jingxing suddenly felt a headache, how should he explain it.

"Dad, don't worry, the main reason is that the grabbing of stocks and chips is too fierce. It's just a temporary drop, and it will rise back soon. Don't worry..."

Xia Jingxing talked all kinds of things, and finally managed to deal with his father.

"Okay, I don't understand the joints here, but you must be careful and don't take risks!"

"Okay, Dad, I'll remember."

...

After hanging up the phone, Xia Jingxing sighed in his heart, as long as any big news happened to him.

Parents may not be the first to call, but they must be the ones who care about him the most.

Then, the foreign girl called again.

Xia Jingxing glanced at his watch and calculated the time difference. It was already late at night in the United States.

The foreign girl often called him in the middle of the night, because she was busy with work during the day, and it was usually late at night in China, so she didn't want to affect Xia Jingxing's rest, so she was very considerate.

"Honey, it's okay, the loss is less than 200 million US dollars, not much.

Facebook has now won a decisive victory, and the number of active users of sites such as Juyou.com and Okut is decreasing day by day..."

Worried about Xia Jingxing's investment setback, Yang Niu began to talk about some happy things, mainly about the various achievements of Facebook and Youtube.

"Oh, and Twitter, which became popular last time because of Tesla, but the growth rate of users has slowed down since then.

I arranged for employees to improve the product again, and increased some advertising efforts. Recently, the growth rate of users has increased again, and the activity is very good.

Darren, you are amazing!

At first, I thought that Twitter would definitely not be able to do it, but its current development is getting better and better every day..."

Xia Jingxing noticed that the foreign girl seemed to be comforting him, and was both moved and amused.

Originally, he wanted to tell the foreign girl the truth, but he found that it was better not to tell, and he could listen to the foreign girl on the phone to keep making him happy.

"Come on! Otherwise, one day you will become a pauper, and I will be the only one to support you.

At that time, you will be responsible for cooking, doing housework, and taking care of the children..."

Xia Jingxing finally couldn't hold back any longer, and laughed "haha".

"Okay, I feel like I've found a new purpose in life!"

"Really? Become a pauper?"

"No, it's hard food!"

"What's the meaning?"

"Check it out yourself!"

...

Seeing that Xia Jingxing was finally happy, the foreign girl on the other end hung up the phone in peace.

After the foreign girl, Xiaogou, Chen Hong, Andrew who had returned to the mainland, and many other friends called Xia Jingxing to ask for his health.

Xia Jingxing was a little bit dumbfounded about this scene.

Because in the eyes of everyone outside, he encountered a major life Waterloo, and the investment myth was shattered!

Unknowingly, he has been mythologized and carried the burden of being an idol.

Sudden defeat once, it becomes an anecdote, unreasonable.

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