Listen to what Fang Chen said.

Buffett immediately smiled and said to Bill Gates: "Bill, I want to thank you for introducing me to a very good friend. It even reminded me of when we first met."

"Bill is a very good person. When I met him for the first time, I asked him, how can a small company like Microsoft compete with a giant like IBM? Bill gave me a good answer, so I couldn't help it.

I bought one hundred shares of Microsoft stock out of my personal pocket, and now the income from these one hundred shares is very good, enough for me to buy many hamburgers."

"And Bill also taught me how to play bridge on a computer."

·

Buffett said with a smile towards Fang Chen, his eyes flashing with a little pride from time to time.

Bill Gates, on the other hand, covered his face, feeling helpless.

Well, yes, bridge is their common hobby.

The two of them are actually quite incompatible. Not only are they twenty-five years apart in age, but most importantly, their experiences, images, careers, etc. are completely different.

One is an investor who only focuses on technology, wants to change reality and enter the future era, and the other is an investor who doesn't even use email, is well-dressed all day long, and controls the wealth of a country that is extremely rich.

At that time, he did not expect that he could actually become friends with Buffett, and this was also the reason why he resisted meeting Buffett in the first place.

Now, they actually have no common interests. He once wanted Buffett to learn computers, but Buffett was unwilling to do so. Even when he said that he could read stocks on a computer, Buffett was unwilling to learn computers.

Later, he installed a computer in Buffett's office because he could play bridge on the computer.

"I think Microsoft's stocks are also very good, and I might buy some. When the time comes, I hope Bill, the guy who sold Microsoft stocks, won't regret it." Fang Chen glanced at Bill Gates and said with a smile.

In his previous life, Bill Gates was worth as much as 120 billion U.S. dollars, but someone once calculated that if Bill Gates had not started selling Microsoft shares in 1993, based on Microsoft's market value, Bill Gates would have been worth as much as 300 billion U.S. dollars.

Dollar.

I don’t know if Bill Gates would choose to sell his Microsoft shares now if he knew what the final outcome would be.

But Fang Chen thought about it and felt that even if Bill Gates was given another chance, Bill Gates would still sell the shares of Microsoft. After all, these shares are really just shares in Microsoft. Only by selling them can they be exchanged.

Get real money.

"Oh!"

Bill Gates completely scoffed at Fang Chen's words. Based on his understanding of Fang Chen, if Fang Chen had money, he would definitely invest in Qingtian, not Microsoft.

This guy is too conceited.

He can say with absolute certainty that in Fang Chen's eyes, Qingtian will always be the best one.

Hearing the implication of Bill Gates, Fang Chen couldn't help but chuckle.

But to be honest, although investing in Qingtian is indeed the best choice for him, it is not the case at a certain stage.

Otherwise, he would not have established any Qingtian Investment Company.

After all, Qingtian has now grown into a behemoth with an annual revenue of nearly 50 billion Huaxia coins. It is no longer possible to maintain annual revenue of ten times, twenty times, or even three or five times. To maintain double,

Even less growth requires tremendous effort.

It is different if you invest in a new company, especially a technology company, especially one that was famous in its previous life.

It is not impossible to invest one million US dollars in them and multiply it by a hundred times, hundreds of times, or even a thousand times.

"However, I found that Bill is even more stubborn than me. I have learned how to use a computer, but he has been unwilling to learn how to invest in stocks." Buffett complained.

Hearing this, Bill Gates blushed and said sarcastically: "That was before, but now I've started to ask you how to invest in a company."

Just like Buffett has no interest in computers, he really had no interest in Buffett's art of buying and selling before.

But now, hasn't his thinking changed?

He sold Microsoft shares and converted them into cash, not only to invest in other companies, so some time ago, he went to Buffett's residence, Omaha, to consult Buffett about this.

At this point, Bill Gates suddenly said to Fang Chen: "Fang, did you know that there were only two speed dials set for the phone on my desk before? One was for my mother's house and the other was for Warren's office.

.However, there are already three now, who do you think the third person is?"

"It shouldn't be me, then I would really feel extremely honored."

Fang Chen said with an indifferent expression.

Anyone who looks at it will know that what he just said was somewhat untrue.

"I always learned something from Warren, companies, politics, world events and new innovations. We talked about almost everything and Warren always brought his perspective as a financial investor to give me something new.

interpretation.”

"And Fang, you are like a true prophet. The development and movement of everything cannot escape your eyes. Sometimes I even wonder if your eyes have been kissed by God."

Bill Gates had long been accustomed to Fang Chen's deathly look, and had even expected it, so he was not angry at all because of Fang Chen's tone. Instead, he looked at Fang Chen and Buffett and sighed.

Fang Chen didn't speak, with a faint smile on his lips.

Probably in this life, Bill Gates can only be envious. After all, it is impossible for Bill Gates to learn what he is capable of.

After chatting for a while, a sumptuous dinner was served.

Although Lanai is located in the middle of the vast and uninhabited Pacific Ocean, you can see food and delicacies from all over the world here, but the prices are scary.

After all, nothing is produced here except seafood and some tropical fruits.

Fang Chen was chatting with Bill Gates, Buffett and others while eating, and exchanged some information on some of the recent world events and each other's company's business philosophy.

Su Yan, on the other hand, under the leadership of Melinda, tasted a variety of novel foods, and she was very happy for a while.

Although Su Yan grew up in a wealthy family, she still had little exchanges with other countries. She would definitely not be able to eat some local delicacies and unique products from other foreign countries.

Fang Chen felt a little guilty when he saw it. He should have taken Su Yan out to have some fun.

But when he thought about it, most of the places he went to before were in Russia. As far as the situation in Russia was concerned, it was really not suitable for Su Yan to go. It was too dangerous.

"Fang, does your company have any plans to go public? If so, I can make an investment on behalf of Berkshire Hathaway, not my personal investment."

Buffett suddenly said to Fang Chen, with a different kind of light shining in his eyes.

Microsoft is a software company. To be honest, he can't understand such a company. Therefore, according to his theory of not investing if he doesn't understand, he will not let Berkshire Hathaway invest in Microsoft. He can only buy one privately.

One hundred shares of Microsoft stock to express my love and support for Bill Gates.

But Fang Chen's Qingtian is different. Most of them are manufacturing companies, electronics companies, banks, and trading companies. These are not only on his investment list, but also his frequent investment targets.

Because he had heard too much about Qingtian Company recently, he researched Fang Chen's Qingtian Company and found that the performance of Qingtian Company was so good that he could even conclude that once Qingtian goes public, its market value will be at least as high as

Can double or even triple.

The current market value of Qingtian is estimated based on the conventional algorithm based on Qingtian's profit multiplied by ten years, which is ten times the price-earnings ratio.

This is also the reason why media and newspapers recently said that Fang Chen is worth as much as 30 billion U.S. dollars. After all, Qingtian's current annual profit is 3 billion U.S. dollars.

But you must know that Qingtian is a rapidly growing company, so this is different.

For example, if Qingtian's revenue and profit can double next year, it means that Qingtian's market value should be US$60 billion and US$120 billion the year after that.

Of course, it cannot be calculated directly based on 120 billion. After all, that is the future, and what is calculated at this time is Qingtian's current valuation.

And no one knows whether Qingtian can continue to rise at this rate or whether there will be any surprises.

But in any case, it is not appropriate to calculate Qingtian’s valuation based on US$30 billion now.

Therefore, the market is usually willing to give higher valuations to high-growth companies like Qingtian.

This is also the reason why software companies like Microsoft can achieve a price-to-earnings ratio of 20 times or even 30 times.

Although Qingtian is not an emerging enterprise such as a computer company or a software company, Qingtian's growth rate is worthy of such a high price-to-earnings ratio.

And he found that Qingtian didn't seem to have any debts.

This is very amazing. As a super large company with assets of tens of billions, revenue of tens of billions, and nearly 100,000 employees, it has no debt. He has made investments for so many years. This is really the first time he has seen such a company.

.

And this illustrates a problem, that is, this company's profit margin is astonishingly high, its capital flow is healthy, and most importantly, there is no invalid investment.

In other words, spend money on projects that will not produce benefits.

He can always make money, and the money he makes is enough, and after spending it, he can continue to make money, maintaining a virtuous cycle. This is his understanding of Qingtian.

It is simply a perfect business development model.

Such an unexplored gold mine naturally attracted his attention and was in line with his value investment philosophy.

Before Fang Chen spoke, Bill Gates said bluntly: "Warren, I can only say that you don't understand Fang Chen very well. He will never be willing to give out his company's shares to others."

"Yeah?"

Buffett glanced at Fang Chen in surprise.

Fang Chen glanced at Bill Gates with a helpless smile, and then said to Buffett: "I think I should hire Bill to be my press spokesman. He has almost become a roundworm in my stomach."

Although he knew that Bill Gates could not lie to him, after receiving a positive answer from Fang Chen, Buffett shook his head, spread his hands, and said in great surprise: "Why? I can't understand, Fang, doesn't your company

Do I need to go public?”

"There is no need to go public, and we don't accept investment." Fang Chen also shook his head and said firmly.

"Then I really can't understand it," Buffett said in disbelief.
To be continued...