The investment direction of Ba-Fei-Te

Reference media news: " that time, Ba-Fei-Te always discusses the three big of his company to invest in direction: 1. Stock - - buying cost worths by the stock underestimated , hold for a long time then. 2. Bond - - buies into the bond that does not expire , using the opportunities such as enterprise merger or reconstruction, carry out arbitrage trade, 3. Enterprise control right - - possesses the stock of considerable quantity, get the control right of enterprise.

In this duration, Ba-Fei-Te says: " we like good management - - we likes seemly profession - - we likes the management pattern in original static quiet or 'upheaval' who has certain degree in shareholder group. But it is valuable that we need. "

1956, for Di-Mu-Pi-Si-Te Mi Er production company, a agricultural equipment manufacturer, is a according to" generality stock" purchase estimate the investment with low value. Ba-Fei-Te report says that stock is sold according to the price of each 18 dollars, have approximate 72 dollars additionally Zhang surface value.

A Bo-Ke-Xi-Er company's shareholder thinks , for Di-Mu-Pi-Si-Te Mi Er production company have behavior is to go on according to these principles: According to Zhang surface the purchase of 1/4 of price that company, settle accounts Zhang surface the actual surplus part of price is used to make investment , borrow money to make investment further from the company that has not lifted debt operation , then, it is commercial to form own core. "

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