"Xiao Chen," Zhang Qingxue said, "How much do you plan to invest?"
Zhao Chen thought for a while:
"8 billion, invest it all."
The office was quiet for a second.
Chen Xi opened his mouth but said nothing.
Su Wantang gently holds Zhao Chen's hand.
Her hands are a little cold.
Zhao Chen holds her in reverse:
"Don't be nervous. It's not a one-time investment. It will take half a year to build a position in batches."
He looked out the window:
"Nvidia accounts for half, Tesla and Apple each account for one-half."
Chen Xi Take a deep breath:
"4 billion to buy Nvidia? Is it the same as Masayoshi Son?"
Zhao Chen nodded:
"Yes. Nvidia is worth it."
He turned around:
"But it's not to compare with him. It's because I think highly of it."
Zhang Qingxue asked:
"And what if it falls?"
Zhao Chen said:
"If it falls, make up for it. Invest in the long term and don't look at the temporary rise or fall."
He looked at the three names on the whiteboard:
"I will keep these three votes for five years, ten years, or even longer."
He paused:
"Because I know they are worth the price."
Su Wantang looked at him with complex emotions in his eyes.
Proud, distressed, and a little... admiration.
Chen Xi has already taken out his notebook and started to settle accounts:
"Nvidia 4 billion, calculated at 192, can buy 20.8 million shares.
Tesla 2 billion, calculated as 317, can buy 6.3 million shares.
Apple 2 billion, calculated at 171, can buy 11.7 million shares."
She raised her head:
"Zhao Zong, with this move, you became the first to become the top ten shareholders of these companies."
Zhao Chen shook his head:
"The top ten or not, it doesn't matter. The important thing is--"
He looked out the window:
"From now on, we are qualified to enter the international financial market."
He paused:
"We are a player in the global capital markets."
Suddenly, Chen Xi was silent for two seconds.
Then she raised her head:
"Zhao Zong, I have a question."
Zhao Chen looked at her:
"Say."
Chen Xi thought about the wording:
"You said before that Bitcoin may enter a bear market next?"
Zhao Chen was slightly startled,
He does have this judgment.
Bitcoin plummeted from 20050 to 11000, and will enter a long bear market cycle in the next few years, only to rise again at the end of 2020.
This is the memory of Previous Life.
"Yes, prosperity and decline are the eternal laws."
Chen Xi asked:
"Then have you ever thought about what impact it would have on Nvidia if Bitcoin enters a bear market?"
Zhao Chen's brows moved slightly.
He really hadn't thought about this.
Chen Xi continued:
"What are the main players in graphics card mining? They are Ethereum and ZEC.
But they use graphics cards for mining – especially mid-range cards like Nvidia's GTX 1060 and 1070."
She turned on her phone and quickly called up some information:
"At the peak of the mining boom in 2017, a GTX 1060 was sold for more than 3,000 yuan, and it was still hard to find a card.
Major manufacturers are desperately placing orders for Nvidia, and Nvidia is also desperately placing wafer orders for TSMC and Samsung."
"But if Bitcoin collapses, the entire Digital Currency market Too Big to Fail--"
She raised her head:
"The motivation for mining will drop significantly. Mining owners will shut down their machines and cease operations, and they will sell their graphics cards to recover.
At that time, there will suddenly be hundreds of thousands or even millions of second-hand graphics cards on the market."
Zhang Qingxue answered:
"These second-hand cards will flow into the market at very low prices - a few hundred yuan each.
How will consumers who originally wanted to buy a new graphics card choose?"
Chen Xi nodded:
"Yes. When the time comes, Nvidia's channel inventory will skyrocket instantly.
Retailers have a backlog of new cards purchased at high prices and cannot sell them. Nvidia's own inventory turnover days will soar."
She looked at Zhao Chen:
"Zhao Zong, this is what is likely to happen in 2018.
If it happens, Nvidia's performance will be seriously affected - revenue will decline, Gross Margin will be under pressure, and the stock price will plummet."
The office was quiet for a few seconds.
Su Wantang gently holds Zhao Chen's hand.
Zhao Chen said nothing.
He knew what Chen Xi said was right.
Because Previous Life, this is the real history.
In November 2018, Nvidia released Financial Report. Revenue did not meet expectations and the stock price plummeted by more than 18% in a single day. CEO Huang Renxun admitted at the Financial Report meeting:
"The 'hangover effect' of the cryptocurrency boom is longer than we expected."
After that, it took Nvidia two full quarters to clear the backlog of inventory.
"So," Chen Xi asked, "Nvidia's 4 billion plan is still going ahead?"
Zhao Chen stood up and walked to the window.
He looked out the window and was silent for a long time.
He knows that Chen Xi is very objective. She does not hide her long-term bullishness on Nvidia, nor does she avoid the problems Nvidia faces in the short term.
After a moment, he turned around:
"4 billion, adjust it."
All three looked at him.
Zhao Chen said:
"Nvidia, build a bottom position first and invest 500 million.
The remaining 3.5 billion will be invested in Tesla first, and after the mining disaster really breaks out and the stock price falls, the positions will be adjusted and entered in batches."
He paused:
"Tesla, heavy position. 6 billion."
Chen Xi was stunned for a moment:
"Tesla? Is it too much?"
Zhao Chen nodded:
"Not much. Tesla just launched Model 3 this year. Although production capacity is ramping up slowly, the market is extremely popular.
Elon Musk Although that person is crazy, what he does cannot be done by others."
He walked back to his desk:
"Electric vehicles are the future. Tesla is leading in this field for at least three years."
Zhang Qingxue asked:
"What about Apple?"
Zhao Chen said:
"Apple is the most stable, but it also rises the slowest. Invest 800 million first, about 10%, as ballast."
He glanced at the three people:
"Nvidia 500 million, Tesla 6 billion, Apple 800 million, a total of 7.3 billion.
The remaining 900 million will be reserved as reserve fund to wait for opportunities."
Chen Xi quickly went through it in his mind:
"Nvidia 500 million, calculated at 192, can buy 2.6 million shares.
Tesla 6 billion, calculated as 317, can buy 18.9 million shares. Apple 8 billion, calculated as 171, can buy 4.67 million shares."
She raised her head:
"Zhao Zong, this configuration...Nvidia does not account for a high proportion, but Tesla accounts for a large proportion."
Zhao Chen nodded:
"Don't worry. Because Tesla is the cheapest now."
He looked at the three people:
"Any other questions?"
Chen Xi thought for a while and shook his head.
Zhang Qingxue asked:
"How to arrange the rhythm of funds?"
Zhao Chen said:
"Tesla and Apple have priority. These two can be purchased at any time.
Nvidia's bottom position of 500 million can be pushed back."
He paused:
"Aunt Zhang, keep an eye on the capital channel. You have to be quick, but you can't make any mistakes."
Zhang Qingxue nodded:
"Understood."
Chen Xi stood up:
"Then I'll go get the data first and do the research on Tesla again."
Zhang Qingxue also stood up:
"I'm going to communicate with an overseas lawyer."
The two left.
Only Zhao Chen and Su Wantang are left in the office.
Su Wantang walked to him:
"Tesla... Are you so optimistic?"
Zhao Chen looked at her:
"You don't believe it?"
Su Wantang shook his head:
"It's not that I don't believe it. It's that I think... you think about it more deeply than I thought."
Zhao Chen laughed:
"It's actually very simple."
He held her hand:
"Some people are looking at the present, but I am looking at five years from now.
Right now Tesla has a lot of problems, including production capacity, cash flow, and Elon Musk's mouth.
But five years from now, it will be one of the most important companies in the world."
Su Wantang leaned on his shoulder:
"Then how much do you think Tesla will be in five years?"
Zhao Chen thought for a while:
"1200 US Dollar."
Su Wantang was stunned for a moment:
"It's only over 300 now..."
Zhao Chen said:
"That's why it's cheaper to buy now."
Su Wantang believes in Zhao Chen's judgment. Since he said it is cheap, it must be very cheap.
His judgment is never wrong.
Even if the battlefield was changed, her trust in him had never wavered.