Rebirth: Stockbroker, I have market data

Chapter 632: Private Detective

When Ni Dong first came to the company, Xiao Jin paid great attention to what he said, and Xiao Jin also authorized him to see the financial statements of Qianjin Investment Company, which not only allowed him to enter the role more quickly, but also allowed him to provide guidance on the company's financial status. There are some problems that you need to improve as soon as possible to get your forward investment on the right track and avoid financial risks.

And Ni Dong also said to Xiao Jin that if you simply look at corporate financial reports and fail to analyze the industry situation in depth, you will lose a lot. Facing a new field, if you don't know how to analyze the industry and company, you will only miss opportunities or fail to invest. Even if you understand the logic of industry and company analysis, it will be in vain if you cannot clearly see the macro trend.

Value investing pays attention to the long term and plays the game of grasping the big and letting go of the small. Only by arranging investments based on the dividends of macroeconomic development can we win.

Xiao Jin deeply agrees with this.

Regarding Xiao Jin’s desire to enter the field of equity investment, Ni Dong then gave suggestions:

Investment research is an essential skill for investment and the first step in all investment and financing activities. Whether in the primary market or the secondary market, there is a systematic and complete investment research and analysis framework. Analysis through this logic can enable you to Discover real investment opportunities in the capital markets.

Therefore, research runs through the entire investment activities. First, we must understand the current macroeconomic situation, grasp the impact of macroeconomic policies on specific industries, and thoroughly understand the transmission mechanism of monetary, fiscal, industrial and other policies.

The second is to understand the development logic of the industry. Choosing the right industry direction is the key to successful investment. Industry research includes industry chain, market space, competition pattern, etc.

The third step is to have a thorough understanding of the company's basic situation. It is important to deeply explore the target company's growth potential. Company analysis includes business model, competitiveness, financial analysis, etc.

The fourth is to play with value evaluation methods. Valuation is the most basic skill in investment decision-making practice. It is an art.

Similarly, Xiao Jin also had deep feelings. Being in the financial circle requires you to learn to be omnipotent. In addition to basic copywriting skills, finance, and law, drinking, socializing, and building relationships are indispensable.

Therefore, Ni Dong told Xiao Jin that for many financial people, everyone is a master of insight into projects, as well as insight into human nature and human nature, just like a "senior detective".

When it comes to "senior detectives", everyone usually thinks of the images in various suspense novels. The most famous one is Sherlock Holmes. The sentence in the novel says, "If you eliminate all impossibilities, the rest, even if it is impossible, is the truth." .It also left a mark on many people's hearts.

Of course, in daily life, everyone does not come into contact with detectives, but when it comes to the financial industry, some people are definitely the most detective-minded.

When a major event in the financial circle is revealed on the Internet, it soon becomes known to everyone in the financial circle, and all financial people are on the front line of taking advantage of it.

And soon, the "senior detectives" in the financial industry began to show their special skills. In a short period of time, they would find out the ins and outs of a certain incident. The personal information of the leaders, departments, and relevant people involved in the incident would be dug out. , the efficiency is so high, the speed is so fast, haha, let me ask you if you are convinced.

And this is the indispensable "due diligence" in the financial industry, referred to as due diligence. From this point of view, when financial people don't want to do finance, they can be good as detectives if they have this ability.

Why is he described as a "senior detective"?

Since the work content of due diligence is said to be the "senior detective" of the financial industry, how exactly is it similar to a detective?

Let me first explain officially. Due diligence, also known as prudential investigation, means that after an investor reaches a preliminary intention to cooperate with the target company and reaches a consensus through consultation, the investor conducts on-site investigation and data analysis of all matters related to the investment of the target company. a series of activities.

Due diligence is also divided into four types: legal due diligence, financial due diligence, business due diligence, and other due diligence.

Legal due diligence refers to whether the company you want to invest in has any major lawsuits and legal disputes, ownership of real estate and land, etc., as well as the legal issues involved in the transaction you want to complete.

For example, you want to rent a house, but the person who rents the house to you is a second landlord. When the real owner takes the house back, you don't even have a place to live.The second landlord might have run away long ago.

Let’s talk about financial due diligence, which simply means all financial information related to the company.For example, does the company owe money, the authenticity of the data, etc.If before you invest, the company seems to be prosperous, but the results are false. After the investment is completed, you find that it is a mess, and there is no place to cry.

Business due diligence is about the company’s business and corporate strategy.Finally, there are other due diligence investigations, such as whether the company has historical issues and whether there are any private issues that will affect its interests. At this time, the problem comes. For example, in our country, illegitimate children have the right to inherit, okay?This all requires you to investigate and understand.

Just this whole set of due diligence content, doesn’t it look like a detective?

The end of perfect adjustment is to eat melon!

The first is the melon on the project.

Generally speaking, before everyone starts due diligence, they actually know something about the company.Some of the information you can find is from the official website, some is provided by the company itself, and some you can directly check the founder. Yes, it is the founder.

You will find that founders in fields such as technology and medicine are quite capable themselves, otherwise they would not be able to reach the stage of raising funds.

Counting the first and second levels, everyone will first find out the situation of the company's founders, analyze their academic background and work background, and then deduce whether the company's core performance is related to their own experience or their own profession. , this is different.Because you can see it in the way he does things.

After looking at the person, you will start sorting out his core technology. After all, you do research and make due diligence. You can't just ask people to "explain" your company's situation like a prisoner. That would be too much. You are easily beaten out.

Of course, after you have searched for this information in advance, it is best to compile it into a document or something, and then write a due diligence list or draft yourself, so that you know what to research in the past.

Sometimes, after reading all the information, you will find that there seems to be no problem.

But many times, no problem is a problem.If you ask the founder, there is nothing bad to say. After checking, there must be something fishy.

Many times, on-site visits can reveal many detailed problems.

For example, during the visit, we found that a customer or supplier that accounts for a large proportion of sales or purchases only has a small office or production site and has very few employees. It does not look like a big company, and it does not look like it can purchase every year. company or a business that sells that amount of money to a company.

Then, the interviewers may also need to pay attention to the fact that the interviewees carry various company seals with them. The intermediary agency can stamp whatever seal they want, and there is no need to verify the data with the financial department or other departments. 's and so on.

Everyone listened attentively to what Ni Dong said, and temporarily forgot about wanting to buy an office building just now.

And then, Ni Dong continued to "eat melon".

Next comes the melon of private life.

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