The Son of Finance of the Great Age

  Chapter 615 American God of Wealth

  In his modest office, Warren Buffett received Dick Foud.

   This is a small room with about 20 square meters. There is an obviously old desk on the window sill. It is said that Buffett's father also used this desk, so it is very old and outdated. On the other side of the room, there is a huge bookshelf, which is filled with a variety of books. From the messy arrangement and the inadvertently exposed bookmarks, it can be seen that these books are not just for decoration.

Taking a deep breath, Dick Foud tried his best to make his expression natural, showing that he was neither humble nor overbearing. Although he came to ask for help, years of prestige and immersion in the upper class required him not to be too arrogant. Be groveling, so that the other party will look down on him.

  Sitting on the wooden chair opposite Buffett, Dick Foud said with a smile: "Warren, you still owe me money for laundry, remember?"

The silver-haired Buffett took off his presbyopic glasses and looked at Dick Foud suspiciously. After a while, he slapped his head and said embarrassingly: "Yes, Dick, I'm very sorry. I'm getting old and my memory is not as good as it used to be. There are some things that I really don’t remember clearly.”

  As he spoke, he took out the checkbook from his pocket, wrote a check for $20, tore it off and handed it to Dick Foud, with an extremely natural expression and movement. On the opposite side, Dick Foud also took the check book casually, and read it again and again.

Speaking of which, the personal relationship between Warren Buffett and Dick Foud is not very good. Both parties may have only heard of each other's name, but they have no business contacts, and they do not have a good relationship in private. They just nod at the turn of. Speaking of "laundry", it was at a reception held by the Vice President that Buffett accidentally poured wine on Dick Fodder.

"I really hope you can be as generous as you are now, and write a check like this to my company!" After flicking the check, Dick Fude solemnly put the paper in his arms, slightly Jokingly said, "Warren, I believe you should know why I'm here?"

"Wow, if $20 gets you there, I wouldn't mind writing a new check," Buffett replied humorously, before adding seriousness, "Dick, don't you think there are some things you should tell me yourself? "

   During his stay in Omaha, Dick Foud did not seek to see Buffett immediately, but instead met with his assistants, friends and even neighbors, and uploaded his intentions to Buffett through various channels. At the same time, he did this because he wanted to know more about Buffett, formulate strategies by grasping the personality characteristics of the other party, and see how he can convince the other party.

  Dick Foud, who was born as a salesman, is well aware of the importance of preparations in advance. Although he has not needed to do it himself for many years, he is still familiar with it.

"Of course, didn't I come here now?" Although Buffett's tone was slightly reproachful, Dick Foud opened the situation with just a joke, "Warren, of course the most important person should be at the end. , so as to reflect your importance."

   Buffett smiled and said nothing more. He took out a blank piece of paper and a signature pen, and began to take notes seriously.

After spending half an hour, Dick Foud briefly explained the current situation and problems facing Lehman Brothers, and then said very seriously: "Warren, this is actually a very good investment opportunity. We need about US$5 billion to get out of the predicament. I believe that after this crisis, Leihman Brothers will soon embark on the right path of profitability, and your investment will get rich returns by then.”

Taking off his presbyopic glasses, Buffett smiled and said, "Dick, you should also know that I need to be responsible to every shareholder of the company. Although I am also very optimistic about the prospects of Raymond Brothers, I always think about it before every investment. It takes time and material to do careful research and analysis, do you understand?"

Seeing that Buffett wanted to refuse, Dick Foud quickly said: "Warren, I think you have misunderstood. Now I am not seeking to sell my company, but to seek financing from you. You can borrow money or It is carried out by purchasing preferred shares or even looking at multiple warrants. This method is relatively acceptable to both of us.”

"Although the market is not optimistic about us, I don't bother to reveal a piece of news in private. The team of the Korea Development Bank is negotiating with us in New York to discuss the issue of capital injection. They are interested in the investment banking business and want to get a share of it Soup. But if I can raise enough funds from you, the negotiations with South Korea may not need to continue.”

  Obviously, Buffett has no plans to get involved in investment banking, but if there is an investment with a good return, he will definitely not miss it. After careful consideration for a while, he set out his own conditions, "9% annual return on preferred shares, plus some warrants. I don't need to look at long warrants. 4 billion US dollars is what I can initially accept The amount of investment, such conditions should be quite good."

   "9% annual rate of return..." Dick Foud hesitated.

  The return is quite high and the conditions are very harsh, but because of Buffett's reputation, this business is still very worthwhile, at least in the eyes of insiders. You must know that if the news of Buffett's investment in Lehman Brothers spreads, investors who follow suit in the market will definitely flock to it, after all, the prestige of "stock god" is there. And Leimen Brothers is currently under siege by short sellers.

   Buffett can inspire confidence in the market, there is no doubt about it.

  But Buffett also has his own considerations. He does not trust the investment bankers, which stems from his failed investment experience in the 1990s. When Salomon Brothers was in trouble in 1991, Buffett rescued the company. But he soon discovered that the management of Salomon Brothers did not change the fate of the company as he expected. On the contrary, after giving himself a bonus of up to 900 million US dollars, the company was completely destroyed.

  At that time, the top executives of Salomon Brothers even concealed a huge amount of treasury bond investment scandal from Buffett, and it was this scandal that completely ruined Salomon Brothers. Therefore, Buffett is very cautious in his attitude towards the Wall Street crowd. He cannot risk his reputation.

   At this time, the phone at Buffett's desk rang. He glanced at Dick Foud seemingly casually, and the other party immediately said with interest: "I need time to think about it." Then he walked out of the office quickly.

   "George, is that you?" Buffett was quite surprised when he heard the voice in the microphone. "I really didn't expect you to call me. This is really an accident."

  The caller was George Soros. Although he runs a hedge fund and his name is not weaker than Buffett, he admires Buffett's stock selection level, because the other party is a real value investor.

The two began to cherish each other in the 1980s, and they had a personal relationship because they often appeared at the reception banquets of celebrities, especially high-ranking officials. However, Soros never appeared at Buffett's annual investment meeting, because if he appeared, The sensational effect was too great. In private, the two sides often exchange some views on the macro economy, which is quite a heroic taste.

  The private relationship between these two world-renowned top elites is quite good.

   "I heard that Dick Foud is seeking your help?" After a short exchange of pleasantries, Soros asked straight to the point, "Warren, you don't intend to invest in them, do you?"

Dick Foud stayed in Omaha for more than a week, during which he appeared in public countless times, and it was not difficult for interested people to catch his news, so Buffett was not surprised at all, but replied indifferently: "Is there any question, George? "

  Although they are good friends, Buffett still has his own opinions when it comes to investment. The reason why he is famous all over the world shows that he is not a soft-hearted person at all. So when Soros asked if he was interested in the Leimen Brothers, he just asked back in a neutral manner.

"Okay, there's no problem." Perhaps aware of the other party's displeasure, Soros' tone softened a lot, "However, Warren, I want to remind you that if you carefully read Brother Leimen Last year's financial report, you should make the right choice."

"Are you shorting them?" Buffett reacted very quickly, and immediately realized the purpose of Soros' call, "So the 'rumors' in the market are not rumors, but that there is really a big problem with Raymond Brothers ?”

"Yes!" Soros said very definitely, without any concealment or hesitation, "People on Wall Street cannot believe it. The lesson of Salomon Brothers is the best example. Believe me, Warren, investing in Raymond Brothers is definitely not A good bet. And, I’m really short Raymond Brothers right now, a lot.”

   "Don't forget, you are also from Wall Street!" Buffett replied lightly, and then hung up the phone. Soros' words made him feel uncomfortable, but it was a fact, so he could only stab the other side lightly.

   During his dealings with Soros, he has never expressed his views on any individual stock, but today is the first time. Buffett, who is well aware of Soros's personality, is aware of the seriousness of the situation, but he will never believe in these judgments. He needs to draw his own conclusion, a reliable conclusion.

At this moment, Dick Foud pushed the door in. He guessed that the phone call should be over. After entering the door, he saw Buffett frowning in thought, couldn't help but smiled, and said, "Warren, your proposal is very tempting. , but now I can’t decide on my own, so let’s wait until I discuss with the directors to see if a final consensus can be reached. Within three days, we will give you a clear answer.”

   "Okay, no problem!" Buffett replied absently, "Also, I need time to learn more about your company."

  Dick Foud was taken aback for a moment, but he didn't say anything more. He smiled and shook hands with the other party, and then walked out.

  …

   "There is a problem here!" "There is a problem here!"

  That night, Buffett decided to start carefully reading the financial statements of Lehman Brothers last year. A whole stack of financial statements up to 7 centimeters thick was piled up in front of him, and he began to read page by page.

  He has a habit. When he sees problems in the financial statements, he will record the corresponding page number, and then these problems will be submitted to the management of the corresponding company for them to explain. And if there are many problems, even if the top executives of these companies can explain them, Buffett and his team will be very cautious about these companies.

  Stayed up until early in the morning, when the eastern sky turned white, and Buffett read all the thick stack of financial statements. Before he even had time to stretch himself, he was shocked by the contents of the record paper on the other side. The entire blank paper contained page numbers, which was where the financial statements had problems.

   Such a company is really not worth investing in! Buffett said so to himself.

   Thanks to book friends Nanquan99, Lei lsq, Amy, Superpower Kaka, PeterWu2008 for voting monthly! Thank you book friend Xiao Qi for the miracle of civilization and my money for the reward!

  (end of this chapter)