finally have the opportunity to talk about the existing China net loan company valuation system problem! It looks like the investment buddy seldom go to a problem to think seriously, especially in a round of a bundle of money market leading mode, we think more there is no disk access man can. The scarcity of premium earned not to A shares.
but no matter how the market changes, I have always believed that short-term volatility will always return to long-term value, whether the value of the final decision to determine the value of a company.
Internet banking and banking speak two languages
Before joining VC,
worked for two investment banks. We all know that investment banks are divided into industry groups, I have been in the group of financial institutions, which is called FIG team. Two almost all of his former club is one of the best FIG house on Wall Street, so I was lucky to be witnessed in recent years almost all domestic financial institutions listed offshore, also as a core member of the principal over a number of joint-stock banks and city commercial banks IPO.
investment bank is doing the work of asset pricing. I have three tables to the bank at a day, in a city firm in the field of work for half a year, later also have access to the Fintech, some of the domestic first-line P2P and foreign customers like LendingCLub, like Prosper, have become the coverage of financial investment group. Dare not say senior, but I also have a certain understanding of the credit business. Later, to the VC, holding the Internet to change the vision of the traditional industry, I also looked at the Internet naturally financial projects, more time, net loan business.
I contacted nearly hundred team of every hue, growth period, a start-up period, found a very different place, although they all are engaged in the business of credit, but the Internet financial and banking completely speaking two languages. The capital adequacy ratio and provision coverage ratio, the amount of loan ratio, loan deposit ratio, liquidity ratio, credit costs, net interest margin and net interest margin of the credit business is the most basic language is never mentioned. The only coincidence of bad debt rate index, has become a dress up the little girl, or even the whole capacity of the little girl.
Internet banking valuation system is chaotic
practitioners, to understand less people, more people confused. In this year’s series of net loan platform to run away, before e rent treasure event broke out, as if only a few people know China P2P are to assume the credit risk of the assets and liabilities business, and is a small loan company like nature; only a few people know P2P regulatory arbitrage essence, the use of legal loopholes and gray areas through various means to avoid illegal fund-raising; if only a few people know that a lot of P2P to the closure of enterprises to increase leverage, continued life. Or as we all know, but is the emperor’s new clothes.
until 2015, when the valuation of Internet banking system >