Straight face alone horny animal fund " 4 big question "

Introduction

Impulse is a devil, and the devil is in detail: What to buy? How to fix a price? Changeover mechanism? Effect of convert into money? Do completely clear, who to see dare cut your leek.

Alone horny animal strategy distributes carry out fund, it is the hot topic that investor near future pays close attention to most, last program we had explained for everybody alone the concept that horny animal, strategy matchs carry out and CDR.

Relevant reviewing

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Little fresh pork: CDR of edition of the China that uncover secret alone horny animal fund

These strategies match carry out fund to be in after collect endowment ends, can take everybody " ammo " , reincarnate it is alone horny animal backstop, of the bibcock company that enlists those fast growth industries " hit new " cavalcade. Hit what is new? It is IPO likely, take a hair equity of the company directly, also be CDR likely, namely the proof of equity, these two things are different, tell at the back of us.

Match the person that make work as the strategy, alone the best limits of authority that horny animal fund has the first to shoot, who shoots first who first in, accordingly alone the rate of be the lucky number of horny animal fund wants far outclass everybody to be hit on the net new (with Fuji health for case, probability of both be the lucky number differs 100 times) . But as cost, strategic investor must tolerate continuously old equity lock is fixed, cannot sell.

Accordingly, what strategic investor should search is those are willing with enterprise share happiness and woe, enter together retreat together, the person that accompanies all the way, is not to go up to sell, drop to arrange windmill passenger with respect to what run. Accordingly, before making a decision, we do not need to make a pledge to Abba, but should examine his conscience at least: Be willing really?

Then, we discuss 4 keys issue:

Above all, what did it buy after all? Probably 3 kinds: The proof of CDR, equity or creditor's rights. Ferial in it is a bond fund, it can buy the asset go off with that does not exceed 40% debt, basically be AAA class, this part yield basically can consult the level of bank conduct financial transactions, but once alone horny animal is approved civil come down, it takes an ammo to enter the court immediately.

The first takes the CDR that of batch of article is millet now, dozen in be not being hit say additionally, in the Tecent that includes everybody to be interested most, A, their hair does not send CDR, how much to send, hit in be not being hit, everything does not know, because of the circumstance in this basket, now is not affirmatory.

The 2nd, the most crucial is the price. Company head hair appears on the market, fix a price how many? General first inquiry, financial orgnaization finds professional orgnaization, everybody discusses a price together, this price can be pressed lowlier than market price commonly. But this is different, if CDR is issued in Tecent A, they are the companies that had appeared on the market, because this is OK,serve as referenced surveyor's pole with market price directly. These big guy people the appraise value of the market is very expensive, if serve as surveyor's pole with market price, although be the lucky number, you also did not take how many petty gain.

The 3rd, changeover mechanism is very principal. Had said before, put holding a proof in the palm to resemble is a piece of food coupon, or gift gets stuck change ticket, be in the United States, you are being taken put hold a proof in the palm to be able to exchange corresponding equity directly, accordingly, change a mechanism to be able to eliminate price difference completely: If its price of two one tall one low, meet immediately somebody buys low the high price after changing sells piece, in money market, this movement is called a benefit.

But, china is not open below capital project, the product of churchyard undertakes changing without the equity outside method and condition, make clear in the book of raise capital by floating shares of millet CDR mention, churchyard CDR cannot change harbor millet equity.

Accordingly, you can see future probably the marvellous spectacle of two prices of same home company. Come so, will tell to investor, CDR is excessive price or convert into money, on probability 55, do not have a person to be able to be forecasted at present.

The 4th, the care says great master I am anxious spend money, can the lock come out to breathe freely fully regularly? Press contract provision, after 6 months, you can transfer your share to others in bourse. But the experience on Chinese history, enclosed fund appears on the market trading is convert into money. According to experience, close period fund of 3 years, rate of general convert into money is in 10% the left and right sides.

You will be then strange, the thing that by what I just bought appears on the market with respect to convert into money? ? Effect of this convert into money, it is the to buying the home compensation that market rule brings actually. Be just like lend money, the person of similar credit, you borrow him 1 year to mix borrow him 10 years, interest rate affirmation is different. Rate of 10 annual interest is high, because too much uncertainty exists in 10 years, assumed bigger risk, ask on finance taller redound serves as the compensation to the risk necessarily.

Accordingly, as buy the home, in the market, he asked the depreciation of 10% above regards extra to the risk income as compensation. The person that regard primitive fund as hold, also need not worry, after because of 3 years hold expires, close fund avert is put, once the mechanism that cover interest is started, price difference disappears immediately, to the investor that patient hold expires, the interest is not damaged completely also kill, redound returns to Yu Jing completely to be worth. And if you are willing to assume fluctuant risk, so the convert into money after 6 months trades, perhaps can be your better choice.

Sum up finally, impulse is a devil, and the devil is in detail. What big money thinks is small, there is hole day inside the clause.