As the "boss" of Dong Mingzhu, Zhang Lei used "Value" to expose the truth of investment success
Zhang Lei, a native of Zhumadian, Henan, was very ordinary before high school, and even Xiaosheng almost fell off the list.
Then he hung up.
First, he became a college entrance examination winner and went to the Finance Department of the National People's Congress. Then I studied abroad, went to Yale, and returned to China to start a business.
In 2005, hillhouse capital was founded, from 0 to 500 billion yuan, with an annualized return of 39% on investment, becoming the strength of China's private equity institutions NO1. Like we usually use WeChat, Baidu, JD.com, Meituan, Gree have his investment.
For two consecutive years, he has secured the richest list with a staggering figure of 22 billion. Not only that, he also holds 15% of the equity of Gree Electric Appliances, and even Dong Mingzhu has to call him "boss" when he sees him.
How did Zhang Lei obtain this wealth that countless people envied?
Zhang Lei used "Value" to expose the truth of investment success
1, value is created
Many people want to get rich and make money. What they want is to find something of value. Honestly, you won't find those valuable things in your lifetime.
In terms of value, Zhang Lei explained the logic from the perspective of investment. If they still follow the logic of value investing in the past to find cheap companies, it must be difficult to find, because everyone has a value investing logic and knows that the world has changed. As a result, their value investments are now more focused on helping some companies create value, providing some of the information and resources that companies need.
Decades ago, you could do business quickly in any field. Back then, you could rely on discovery, but now it's different. The internet is so developed. No matter what the field, you'll find that a lot of people are already doing it. When we found it again, it was already late. It always lags behind others, so it's hard to get rich.
But creating value is different. For example, many people's previous business models were a combination of physical and offline, but the advent of the Internet has allowed a group of people to know how to create value, how to combine offline and online. Efficiency and business expanded rapidly, and wealth exploded. In fact, it's a value-creating process. If you just discover the benefits of the internet and simply do the internet, you can find value, which is certainly not as good as creating value.
2. Be friends with time
You may not understand the meaning of making friends with "time" at first sight. The so-called making friends with "time" includes attaching importance to the value of time, deeply understanding the meaning of time, and making full use of time.
For example, the very famous "stock god" Buffett likes to make friends with "time".
As we all know, 99% of Buffett's wealth is earned after the age of 50.
For Zhang Lei, the author of "Value", the principle of "re-establishing China" that he once adhered to is also making friends with "time". Before investing, Hillhouse Capital will extend the time as long as possible, observing valuable information about a company and industry to determine whether it can be invested.
JD.com put forward the idea of self-built logistics at the beginning, which is also a friend of "time". He never looked at the past and saw the weaknesses and keys of the Internet. Now Liu Qiangdong has also made great achievements.
Bezos is also a guy who likes to make friends with "time". In the beginning, Amazon's short-term performance was very unsatisfactory and kept losing money. Now it has become one of the top companies in the world.
Rich people are not stupid. They are willing to make friends with "time" precisely because time can help them grow advantages in various aspects, such as wealth, ability, patience, etc.
3) Don't make a deal with the devil
Zhang Lei said, "Don't make a deal with the devil. ”
But after all, before cooperation, no one knows anyone, how can they judge whether the other party is a "good person" or a "bad person"?
There is a good way in "Value" that you can first assume that the other party is a "good person", give the other party the trust they deserve, and then verify it in the matter.
Once it is found that the other party has moral problems, then decisively refuse to continue to cooperate and stop the loss in time.
Even if the other person has the resources, capabilities, technology you desperately need... After all, morality is the bottom line!
Don't take any chances, think: I'll do business with him this time, and find someone else next time.
Most likely, this time, you've been ruined.
You will never know when the other party will dig a hole for you, and you will make others doubt your character because of working with such a person.
"Putting values in front of profits, and believing that values are the real core of this business, then profits will only be the natural result of doing the right thing." --Zhang Lei
Only by adhering to the right values and morals can you win the long-term trust of others and attract more like-minded "fellow travelers".
- When you are in danger, he will not abandon you;
- When given the opportunity, he will be the first to share it with you.
Just like Zhang Lei started a business, along the way, he has invested in more than 800 enterprises and helped many entrepreneurs and entrepreneurs to achieve their careers.
Some of these people, in turn, will be Zhang Lei's investors and leave the funds to Hillhouse management with confidence.
It is this long-term, positive interaction that has created Zhang Lei's remarkable achievements today.
Under the leadership of Zhang Lei, Hillhouse Capital not only withdrew from the stock market, but also earned him a lot of wealth. The name Hillhouse is revered as a guideline.
On the day of the listing of Hillhouse's "Genting Xinyao", the increase was as high as 32 or 27%, becoming a bright star with excellent results. Some people have calculated that in just one day, Hillhouse can earn HK$25 million.
In addition, there are many new stocks that are about to be listed, with the shadow of Hillhouse.
All of this is Zhang Lei's brilliant achievements!
After five years, Zhang Lei finally published his brainchild, Value, in September 2020. The book includes his years of investment experience and can point out the future direction for many investors.
Zhang Lei has been running Hillhouse Capital for fifteen years and has invested in more than 800 companies, and he has joked that the purpose of all this is to write this "Value".
In "Value", Zhang Lei put forward his own "three fires" theory through the two perspectives of "investor" and "entrepreneur".
With these "three fires", Zhang Lei has overcome many seemingly insurmountable gaps and achieved his current status.
The book "Value" is broad-minded, far-reaching, and frequently comes out with golden sentences.
Legend has it that when Napoleon saw Sun Tzu's Art of War, he exclaimed: If only I could see this book in advance! Now, if you miss this "Value", you may be able to express the same sentiment in the future!
The book "Value" has shaken the entire investment community. Soon, it became a book jointly recommended by Ma Huateng, Feng Lun and more than 50 domestic and foreign celebrities.
This book is very thick, the price is only 99 yuan, perhaps as long as a cup of coffee money, you can read Zhang Lei's wisdom essence that has been precipitated for many years!
Value Financial Investment Management Principles Bestseller ¥99 Purchase
This book is by no means an obscure theoretical book, Zhang Lei uses his brush strokes of a liberal arts champion and a high-achieving student of the National People's Congress, with nearly 500 pages, to share his successful experience and experience with you, so that you can learn to start a business and invest like a story.
Many of the views in it have long gone beyond the field of investment, but the only magic weapon for a person to succeed.
The market is unpredictable, and perhaps you need such a good book to guide yourself!