"Mr. Huang, ask me if I want to own Nvidia."
He put down the cup,
"My answer is - Era Vanguard's holdings will not be sold at any high point.
For Era Vanguard, Nvidia's most important wealth is not the ownership of this company, but the senior executives represented by you."
Huang Renxun's eyebrows moved slightly.
"I have my own company in China called Henglong Group. From the time I took it over until now, I have not sold a share.
I Short Selling passed Henglong Holdings, but that was a power grab, not arbitrage.
I bought Bitcoin and cleared all positions at 17,000 US Dollar because I knew it was a bubble.
I bought Tesla, and I haven't sold one share since last year."
Zhao Chen's voice was as calm as if he was recounting someone else's experience.
"Era Vanguard's investment style is different from 99% of Wall Street's funds. We don't trade, we hold."
He paused.
"The same goes for Nvidia. No matter how many shares of Nvidia we ultimately hold, Era Vanguard will hold it for at least five years.
No matter how high the stock price rises, we will not sell it.
No matter how low we fall, we will not panic.
Because what I'm looking at is not K-line Chart in the next three months, but Nvidia's position in the computing power era in the next five or ten years."
Huang Renxun's fingers stopped on the table.
Elon Musk put down the Whisky cup hanging in mid-air and made a soft sound.
He looked at Huang Renxun and suddenly smiled.
"Old Huang, I told you. He is different."
Huang Renxun did not watch Elon Musk.
His eyes were fixed on Zhao Chen's face, like a scalpel, searching for any trace of insincerity.
Then he suddenly laughed.
Huang Renxun's smile is completely different from Elon Musk's.
Elon Musk's smile is like an exploding firework, flamboyant, enthusiastic, and with a childish arrogance.
Huang Renxun smiled, with the corners of his mouth raised in a slight arc, and the lines at the corners of his eyes became deeper, like the marks left by a stone washed away by water for a long time.
"Mr. Zhao, the word 'shut up' you said is the most beautiful thing I have ever heard from an outside shareholder."
He picked up his fork and cut another piece of brisket.
"Eat."
The noise in the barbecue restaurant came back again. The sound of knives and forks, the clinking of beer glasses, and the commentary of the football game filled the vacuum just now like a tide.
Su Wantang's mouth curved slightly, he picked up the fork and put a piece of pulled pork on Zhao Chen's plate.
Elon Musk took a big gulp of Whisky and began to talk about Starworm's next test plan, which was to make a real mid-altitude flight and jump directly from 20 meters to 150 meters in height.
When he said this, he made a huge gesture and almost swept Huang Renxun's Whisky cup to the ground.
Huang Renxun quietly moved the cup further away.
Zhao Chen was eating beef brisket, listening to Elon Musk talk about the stainless steel welding process and the combustion chamber pressure of Raptor engine, and occasionally asked one or two questions.
He didn't mention Nvidia again, and Huang Renxun didn't ask again.
But the tension between the two people scrutinizing each other has subsided, replaced by a quiet tacit understanding--
The kind of tacit understanding that only exists between two people who think things through clearly.
When I walked out of the barbecue restaurant, the Texas night sky was completely dark.
Without the light pollution of the city, the Milky Way spans from one end of the horizon to the other, like a river paved with crushed diamonds.
Huang Renxun stopped for a moment in the parking lot.
"Mr. Zhao, I can tell you responsibly that in the recent period, Nvidia's Financial Report will be very ugly.
Inventory impairments will be further accrued, and the growth rate of the game business may not recover until the second half of next year."
He looked at Zhao Chen, his eyes looking particularly quiet under the starlight,
"The stock price will continue to fall. Maybe it will drop to one hundred and twenty US Dollar, maybe even lower."
Zhao Chen nodded.
"I know, I know, I have predicted it."
Huang Renxun waited for a few seconds, as if he wanted to see if Zhao Chen would add something like "How will Era Vanguard respond?"
But Zhao Chen did not make up for it.
He just stood there with his hands in his coat pockets, his expression as calm as a stone in the Texas wilderness that had been blown by the wind for a long time.
The arc that had been washed away by the water for a long time appeared again at the corner of Huang Renxun's mouth.
"Mr. Zhao, next time you come to Silicon Valley, I'll treat you to dinner."
He opened the door and got into a dark gray Porsche Cayenne.
The sound of the engine starting was particularly low in the empty parking lot.
As the car drove out of the parking lot, its taillights gradually shrank into two red dots in the Texas night, and finally disappeared at the end of the road.
Elon Musk leaned against the door of the Model S, arms folded in front of his chest.
"Zhao, Old Huang is a person who rarely takes the initiative to invite people to dinner."
There was a rare seriousness in his tone, "You are the first."
Zhao Chen turned his head to look at him.
"Do you know why he invited you?"
Zhao Chen shook his head.
"Because you said something he has never heard from outside shareholders."
Elon Musk stood up straight and opened the car door, "That's it, buy in and shut up."
He got into the car and lowered the window, revealing a face illuminated by starlight and barbecue sauce.
"Zhao, in this world, the only people who can give advice to Huang Renxun are his engineering team.
And the person who can make him take the initiative to invite you to dinner -" he smiled, "You are one of the few people."
The Model S's motor made an almost inaudible whine, and the car body slid out of the parking lot silently and merged into the Texas night.
Su Wantang walked to Zhao Chen and stood side by side with him.
The night wind blew from the wilderness, carrying the smell of gravel and dry grass.
"Huang Renxun finally said that Financial Report will be ugly and the stock price will fall."
Her voice was very soft, "He is testing you."
"I know."
"When you said 'I know', the way he looked at you changed."
Zhao Chen turned his head and looked at her.
The starlight fell on her face, outlines her outline softly and clearly.
"Wantang, do you know what Huang Renxun is most afraid of?"
Su Wantang has no answer.
"What he fears most is not the stock price falling. What he fears most is that shareholders will use the falling stock price to teach him how to be a CEO during his most difficult time."
Zhao Chen's voice seemed very calm in the night wind,
"What I just told him is - I know the stock price will go down, but I don't care.
Because I'm not looking at the next quarter, I'm looking at the next decade."
He opened the car door.
"In this world, there are fewer shareholders who can say to Huang Renxun, 'I don't care about the stock price,' than shareholders who can tell him what to do."
The car drove out of the parking lot, and the wilderness of Texas quickly retreated on both sides of the car window.
The Milky Way hangs overhead like a luminous river across the entire sky.
Su Wantang placed his hand on the back of Zhao Chen's hand, and his palm was warm and dry.
"Xiao Chen, what you said tonight, Huang Renxun will remember it for a long time."
Zhao Chen has no answer.
His eyes fell on the Milky Way outside the car window, with a faint smile on his lips.
Huang Renxun What you treat him to is not food, but trust.
In this world, Huang Renxun's trust is much more valuable than Nvidia's stock.