Chapter 1826 Difference

After getting rid of the little knot in his heart, it was obvious that Lao Ma was in a very good mood during lunch.

However, Sun Zhengyi always felt that this man, whom he had said before that he would be his lifelong friend, looked at him a little strangely. How should I put it, he seemed to be a little lucky for himself and lucky that he had escaped.

Sometimes, Sun Zhengyi feels that the way Lao Ma looks at him seems to be you, which means he is really lucky.

Why is this? He didn't understand.

He was destined not to understand this issue, because neither Lao Ma nor Feng Yiping would tell Sun Zhengyi about Feng Yiping's original plan to kill the entire family.

Lunch is naturally delicious, but the focus of the three of them is naturally not on lunch.

Therefore, in terms of arrangement, it is not a big dining table where three people sit alone, but a small round table similar to that at home, where you can sit across from each other and clink glasses with your hands.

This arrangement is naturally mainly for communication.

"We know that when it comes to well-known investors, the other one is Mr. Buffett. Mr. Sun, what do you think is the biggest difference between you and Buffett?" Feng Yiping asked.

Son Zhengyi said almost without thinking, "The biggest difference is the age difference."

Naturally, he was worried that Feng Yiping felt that his words were not sincere enough and seemed a bit like talking nonsense. He then explained, "Buffett was born in the United States in the 1930s. When he was a teenager, the United States was not the most developed country in the world." The country's material conditions are far from rich, which may have contributed to his relatively cautious character."

"To give a simple analogy, at the gambling table, if he and I both have 100 billion U.S. dollars, I may go all-in very quickly, but he will definitely not do this. Although there is a suitable opportunity, he will also increase his bets. , but more often than not, I’m not opposed to playing small bets,”

When he said this, Feng Yiping could see the arrogance in this short middle-aged man.

His metaphor about the gambling table is indeed very apt. Therefore, he is the one who went from being very rich to being "extremely rich." And although Buffett does not have a large return investment like his investment in Ali, his wealth has always been It's rising steadily.

"Perhaps because of his experiences as a teenager, Buffett tends to invest in industries he is familiar with. This is the most fundamental difference between me and him. You see, my investments are concentrated in the software and Internet fields, but he stays away from it. this industry,”

Feng Yiping nodded. This is indeed the biggest difference between Buffett and Son.

Everyone knows that Masayoshi Son is enthusiastic about software and Internet companies, just as everyone knows that Buffett hates Silicon Valley.

For this reason, our stock god, like many others, said something similar to hindsight.

After the success of Google's IPO, Feng Yiping heard - of course, unconfirmed gossip. He once said privately that not investing in Google was the biggest mistake he and Berkshire Hathaway made. They "screwed up."

You know, when Google was raising shares, Page and the others sent people with investment brochures to Omaha to find Buffett, but they made no move in the end.

"If you want to vividly illustrate the difference between him and me, I can use an analogy. I know, Feng, you have just opened a restaurant in Silicon Valley. If that restaurant is the same as the one we are dining in now, it will serve such delicious food. cuisine, then I think if Buffett visits your restaurant a few times, he might have the idea of ​​investing in your restaurant,”

"This is another significant difference between him and me. Although his investment portfolio covers various fields such as banking, insurance, railways, manufacturing and energy companies, when we look closely, it is not difficult to find the fact that among his investments A large part of it is holdings in companies such as candy, ice cream, chewing gum, soft drinks and ketchup,"

"Why, he is very familiar with the products of these companies, or simply he likes these products very much, such as cola and ice cream, so he thinks the stocks of these companies are worth owning,"

"I can even say that Buffett made the investments that are currently most important to him based on his own tastes,"

This metaphor is so appropriate, isn't it? Many businesses in Buffett's investment empire are really "eat".

Coca-Cola, See's Candies, Wrigley's (the one that makes gum and candies, not sanitary ware), Heinz ketchup..., and tobacco company stocks he held through other companies.

“I wouldn’t be surprised if one day I hear Buffett invests in a hamburger company,” Son said with a smile.

"Yes, our reaction should be like this. When you come to the United States in the future, you won't have to worry about which hamburger to eat. The one Mr. Buffett invested in must be good." Lao Ma also raised his glass with a smile and clinked it with him. .

"Speaking of which, Buffett and I also have something in common. My first pot of gold is closely related to an industry that is particularly prosperous in RB, pachinko machines. When I was in school, I accumulated money by renting out pachinko machines. It was a lot of money for me at the time,"

"I spent more time on this job and other part-time jobs than I spent studying,"

"I also noticed that when Buffett was a child, it seemed that after his father was successfully elected as a member of the House of Representatives and his family moved to HSD, he also spent dozens of dollars to buy a second-hand pinball machine and promoted it to barbershops on the streets and alleys, suggesting that the pinball machine be placed in an open space in the shop so that customers can play a few hands to relieve boredom while waiting for their haircuts, and the profits will be divided between the two parties."

"Soon, the barbershops that rented his pinball machines were crowded with customers. Later, almost every shop in HSD's streets and alleys had a machine."

Feng Yiping felt that rather than saying that the common point was the pinball machine, it would be better to say that the two of them had a desire for money since childhood.

Speaking of which, Feng Yiping this time was the same as them. He also thought about how to make money since he was in his teens, to be precise, when he was 12 years old.

Therefore, it can also be said that the common point of many wealthy people may be that they love money like their lives when they were young, and they not only stay on this hobby, but will actually take a lot of actions for this hobby.

"... I like the software and high-tech fields, which Buffett believes have too many uncertainties. He believes that it is difficult to find the final winner in the early stage of the development of the technology industry. In addition, it is difficult to reasonably value technology companies. This is indeed reasonable. The Internet bubble fully illustrates this point. However, I still like to invest in these companies...,"

"... Buffett refuses to invest in young companies. These companies may become great companies in the future, but they are difficult to analyze in the early stage. He hopes to invest only in companies that have achieved sustained profitability, but I like to invest in these young companies the most...,"

Maybe because he was happy, or maybe because Masayoshi Son really wanted to be "friends for life" with Feng Yiping and Lao Ma, so he said a lot during the dinner.

His words made Lao Ma feel that his previous idea was obviously wrong.

When he went to the United States to find funds, even if he found these giants, it seemed that there would be no good results. For example, Buffett must have kept a distance from him.

Feng Yiping also listened very seriously.

It should be said that although Son's personal wealth and the returns he gives to shareholders are far from Buffett's overall, this does not mean that he has nothing to praise compared to Buffett.

On the contrary, many of Son's qualities are also worth learning.

It is a rare opportunity to hear him talk about his experience face to face - otherwise, why do many people have to pay hundreds of thousands of dollars to have the opportunity to talk to Buffett?

In Feng Yiping's understanding, if there is a difference between him and Buffett, it is that Buffett bets on "certainty" and Son bets on "risk".

So Buffett's final achievement seems to be higher than Son's, and Son's success in a single investment will make Buffett look up to him.

It should be said that these two people have their own obscurity and brightness.

And if they can combine their advantages, they will obviously be the most successful investors in the world. Feng Yiping hopes that he can do this.

At present, he is indeed doing so.

In the 1997 financial crisis, he followed those big sharks to make money; later he used foreign capital to snipe at mobile companies, followed them to short Hong Kong stocks and became the biggest winner; he speculated on the euro; he let Li Ruiyuan and others try crude oil futures... All of these can be said to be gambling.

He insisted on buying Apple stocks very early, thought of so many ways, and finally successfully invested in Google. Now he has started to hold domestic blue-chip stocks such as Moutai, which is an investment in certainty...

In fact, to outsiders, Feng Yiping is now very close to Masayoshi Son, because he obviously also likes those high-tech companies in Silicon Valley, so he spent a huge amount of money to acquire Netflix.

Of course, this is mainly because some investments that are considered "gambling" by outsiders are actually the most "stable" investments for Feng Yiping who has later memories.

At the end of lunch, Son invited Feng Yiping, "After signing the contract, I want to go to Korea. Are you interested?"

…………

Feng Yiping, who was a little drunk and a little swaying, returned to his penthouse suite after dinner. Son and Ma were obviously more alcoholic than him, so they continued to talk.

Regarding the signing of the agreement and the subsequent ceremony, they did have a lot of issues to communicate.

This year's start seemed to be quite smooth. Feng Yiping was sitting in the living room, looking at the top city skyline in China outside the window. Thinking like this, the door was knocked a few times, and then someone ran in with a gust of fragrant wind, "Hi!"