Almost the US stocks held by Clearance, Cai Chongxin cash out crazy, what signals did you release?

Cai Chongxin almost cleared US technology stocks. What signal does this behavior release?

According to the technology of Phoenix.com, the family office of Alibaba co -founder Cai Chongxin's family and investment company Lanchi Capital are withdrawing from the US stock market, and more and more focus on the private equity market.

According to the latest regulatory documents, since last year, Lanchi Capital has cleared more than 30 stocks of listed companies in the United States. It is reported that most of these companies are technology companies, including Microsoft, Google's parent company Alphabet, Twitter, etc.

At the same time as Qingcang these technology companies, Cai Chongxin seems to be more focused on the private equity investment market. According to relevant information, since the beginning of 2021, Lanchi Capital has invested in more than 10 unlisted startups worldwide. Sports, blockchain and medical insurance.

In fact, with the Federal Reserve raising interest rates in the past two years, US technology stocks have been very obvious. And Cai Chongxin's selling behavior is not an example. According to the document disclosed by the SEC, on September 6, local time, Microsoft's chief financial officer Amy Hood sold the total number of 75,351 Microsoft stocks at a average price of $ 259.46 per share, cash about $ 19.55 million.

It is reported that on September 1, Microsoft's CEO Satya Nadella also sold more than $ 14 million in stocks.

Teng Le, chief investment officer of Laffer Tengler Investments, believes that if the 10 -year US bond interest rate returns to 3.5%, it will impact US stocks, and technology stocks will appear particularly painful.

In this regard, he also analyzed that technology stocks are more vulnerable to rising interest rates. He further explained that because the valuation of many companies is based on expected profits in the next few years, and as the benchmark interest rate rises, the present value of future profits will become lower and lower. The company's financing business has become more expensive.

Although large -scale technology companies such as Apple and Microsoft will not affect them, for some rapidly growing technology companies that are still growing at the early stage of money, financing costs will increase the company's risk.

Therefore, from this perspective, Cai Chongxin's choice of clearance is not wrong.

It is reported that Cai Chongxin, currently 58 years old, is Ali's executive vice chairman. Cai Chongxin's joining Ali is also a good story for the Internet to make a wealthy dream. As early as 1999, Cai Chongxin abandoned the annual salary of $ 700,000 in a US company. He insisted on joining Ali with a monthly salary of only RMB 500. With the help of Cai Chongxin, Ali resolved the funding problem and walked to today's position.

According to the Bloomberg billionaire index, Cai Chongxin's net assets are currently US $ 6 billion. It is worth mentioning that Cai Chongxin spent $ 2.35 billion in 2019 to buy the NBA team Brooklyn Net.

Lanchi Capital was founded with Alexander West in 2004. It is reported that the company's investment scope includes listed companies, private equity, hedge funds and real estate. For the first time, Lanchi Capital disclosed that its total stocks holding US companies were in 2018, but the scale was not very large, with a total value of about 210 million US dollars.

In summary, I think that Cai Chongxin's choice of US technology stocks is not alone. With the Federal Reserve ’s interest rate hike cycle, the pressure of US technology stocks will be very high. For Cai Chongxin, its shareholding scale is not very large, and from the asset structure, the Nets occupy the big head of their investment, and stock investment is only a relatively small part of its asset portfolio.

Although the uncertainty of the global economy is increasing in the next two years, stocks in their asset allocation are an indispensable part. As Buffett has also begun to increase energy stocks such as Western oil this year, and actively reduce Berkshire's cash reserves So I think Cai Chongxin's clearance is more just a personal market judgment.

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