Having arrived in the old capital.

He didn't dare stay in a hotel, quietly arriving at the siheyuan (courtyard house) that had been vacant for years.

This was all based on Su Yehao's experience.

To avoid news of his arrival spreading, and then encountering enthusiastic guests who came knocking, crying about their poverty and begging for help.

For example, when he went to Pengcheng a while ago, he was inexplicably intercepted halfway and chatted on the roadside for a long time.

The land he had acquired at that time was still hoarded in his hands, and he didn't plan to touch it for three to five years. Anyway, he had enough face, and others wouldn't easily urge him. It wouldn't be too late to develop it when the surrounding house prices, consumption potential, and infrastructure had all improved.

In order to launch the open-ended fund as soon as possible.

Su Yehao spent four consecutive days traveling around.

In his spare time, he also drank tea, ate sunflower seeds, listened to xiangsheng (comic dialogue), and went to the capital's clubs to soak in the bath and have his back scrubbed and stepped on.

It was the dog days of summer, and even doing nothing would make you sweat just standing outside.

Occasionally, his luck ran out, and he was still cornered by people.

Some hoped that he would inspect and invest, while others wanted Su Yehao to provide funds and partner with him in business.

The vast majority were politely rejected by Su Yehao, while the commercial projects that interested him were handed over to KOKO Ventures to follow up and be responsible for further evaluation and inspection.

The proposal to liberalize the fund industry was temporarily stuck due to inadequate supervision.

Some people held special meetings to study the matter, worried that once open-ended funds were promoted, the entire industry would face an impact, leading to many problems.

There were precedents for this kind of thing.

For example, when securities trading was first liberalized, troubles arose one after another, and cases of exploiting loopholes were everywhere.

Su Yehao's idea was to first use 5S Asset Management Company as a pilot, and invite an official team to be stationed there, accumulating experience from the exploration process.

With the promise of 60 billion RMB over three years in front of them, coupled with the efforts of 5S Asset Management's four partner companies to help, the proposal to establish a pilot was quickly agreed upon, but some preparatory work needed to be done in advance.

The so-called "preparatory work."

Probably referred to selecting people to form a working group, specializing in researching and discussing how open-ended funds in Hong Kong, Europe, and the United States operated and were regulated.

When the preparations were almost complete, several companies, including 5S Asset Management Company, would be used as pilots to see how the effects were.

It had to be said, someone else wouldn't have this efficiency...

...

July was uneventful, and so was August.

It wasn't until mid-September that a draft entitled "Measures for the Administration of Open-End Funds by Securities Investment Fund Management Companies (Trial Implementation)" was freshly released, and 5S Asset Management Company and seven other companies, including Hua'an and Nanshan Venture Capital Fund, were included in the list of pilot enterprises.

Outsiders watched the excitement, but insiders knew that this was thanks to Su Yehao.

Now that the pilot work had begun, it was believed that full liberalization shouldn't be too far away, and many people couldn't help but grin from ear to ear.

The vast majority of fund companies had not yet obtained their entry tickets, but 5S Asset Management Company, which had prepared in advance, had already begun, under Su Yehao's instructions, to formally absorb funds through cooperative banks, securities companies, and offices in major first- and second-tier cities, temporarily placing them in official regulatory accounts.

Affected by this incident, the stock market rose sharply.

After all, retail investors had always been the main force, and now that a new institution was added, it meant that a considerable amount of funds would inevitably flow into the stock market, making the market more vibrant.

News spread like wildfire, and there was even no need to spend money on publicity. In the following two weeks, 5S Asset Management Company raised more than 8 billion RMB.

It should be known that the scale of the entire fund industry in the country had previously been only 50 to 60 billion RMB.

Seeing that open-ended funds had just been established and were already showing such amazing potential, many fund company executives on the pilot list regretted it so much that they wanted to bang their heads against the wall, blaming themselves for not launching their products into the market as soon as possible.

However, when their open-ended fund products were truly launched, they found that a large amount of funds still only flowed into 5S Asset Management Company's account.

After investigation, reporters discovered that what these investors recognized wasn't the open-ended fund itself, but rather they wanted to benefit from Su Yehao and entrust their money to this little stock god from Hong Kong to manage...

When these things happened.

Su Yehao was in Silicon Valley, only remotely directing the executives of 5S Asset Management Company to scout for potential stocks worth investing in before he returned.

After a round of warming, the NASDAQ once again ushered in an avalanche this week.

This time he failed to seize the opportunity, entering the market after the fact, establishing some short positions in stock index futures, buying funds that shorted the NASDAQ by three times, and allocating some option contracts that were bearish on other Internet companies.

Although he missed the best time to enter the market, he still made a lot of money in recent days, roughly calculating about more than 200 million US dollars.

The excuse for coming to Silicon Valley this time was to handle business, but in reality, Nong Qingying was acting spoiled and had to have him stay by her side to keep her company.

Only then did he reluctantly cross the Pacific Ocean and run to Silicon Valley to avoid prying eyes.

The ranch she had previously taken a fancy to had not been sold, and the seller had even lowered the price by two million US dollars. After learning the news, Su Yehao had already contacted the seller in Nong Qingying's name, and now they were just waiting for both parties' lawyers to prepare and sign the contract and complete the transaction.

It seemed that the purchasing power of Silicon Valley's rich had indeed declined significantly.

If it had been before March of this year, before the NASDAQ ushered in its cold winter, such a vast ranch in the Bay Area would have been bought in a matter of minutes. How could it have been backlogged on the market for several months, unable to find a buyer?

On September 20, 2000.

Nong Qingying came forward in the morning and signed the contract with the ranch's seller. In the afternoon, Su Yehao took her to inspect the ranch and receive the herds of cattle and sheep that had not yet left the pen.

The ranch's name was still the previous "N3 Cattle Company." Including the oak forest and grassland, the area even exceeded the urban area of San Francisco, and was considered one of the largest ranches in the entire state of California.

At this moment, standing on the grass, Su Yehao supported Nong Qingying and exclaimed:

"Only after seeing it in person do you realize how big it is. If this piece of land were in Hong Kong, it would be worth at least 500 billion Hong Kong dollars and could accommodate several million more people."

Nong Qingying was amused by this sentence. She carefully walked forward, holding her waist, and said, "How can Hong Kong have so many people? If the houses are developed and no one lives in them, be careful you'll lose money in the end."

"How can there be no one? Hong Kong has a small population, but there are many people in the mainland. If the restrictions on buying houses are lifted, they will definitely be sold out within twenty years. 500 billion Hong Kong dollars is just the land price. It's a full eighty miles, equal to more than two hundred square kilometers, and it's just being used to raise cattle. Countries with vast land and sparse populations are indeed extravagant."

Su Yehao walked with his head down, to avoid accidentally stepping on cow dung. Although it didn't smell that bad, it would be disgusting to step on.

Looking around, everything was lush and green.

Even if he didn't make money by raising cattle, it would be great to live here as a private territory.

Changing the topic, he continued to say to Nong Qingying:

"Let's find someone to transport those white-tailed deer in my yard here tomorrow. There are no natural enemies when they're raised at home, and they've reproduced four fawns, which can easily damage the lawn. Also, let's find someone to apply for a permit and tear down the old house and build a new one, what do you think?"

"Yeah, I have this idea too. The previous house was built in the 1960s and only has four rooms. It would be a pity not to build a good house on such a large piece of land. The ranch is considered a gift from you to the child, and I'll take care of the expenses that follow. Otherwise, we can just have the baby here, the environment is very suitable for raising children."

After Nong Qingying finished speaking, she waved her hand, indicating that she was tired, and got directly into the car following behind.

There were wolves in this ranch, and the bodyguards didn't dare to be careless.

Hearing this, Su Yehao immediately retorted:

"Although the environment is good, the medical conditions are not good. It takes an hour to drive from here to San Francisco, what if something happens? It's okay for you to come here for a vacation occasionally. At most, we can open an Aman hotel here, which saves the money for building a house. Land is cheap in the United States, but labor and materials are especially expensive."

"Hmph, what's the difference between me being here and being in Hong Kong? Anyway, you never have time to come and see me."

"..."

Thinking that the root of the problem was here, Su Yehao smiled wryly and replied, "A man in jianghu (the martial world) has no choice, but soon the child will be with you, the little guy is much cuter than me..."