Special topic: Buffett's 2024 shareholders' meeting hit
Berkshire Hathaway shareholders' meeting focused by global investors was held in the small city of Omaha, NebraskaPlaytorocasinoAt the shareholders' meeting, Sina Finance had a dialogue with Wang Li, a research fellow on ESG influence investment at Columbia University and a member of the Unitlife of the United Nations UNCDF influence Fund.
There are two steps for Chinese companies to go out to sea, Wang Li told Sina Finance in an interview.PlaytorocasinoOne is called globalization and the other is called localization. Localization needs to reach a consensus in a region, country or industry and agree on values. To integrate the 17 sustainable development goals of the United Nations into business practices is to invest in influence. "so I say that influence investment is actually the best tool for globalization and localization and global cooperation."
At the same time, she believes that giving up profits or giving up financial returns for the sake of social influence is not called influential investment, but public welfare and philanthropy.
The following is a transcript of the interview:
Sina Finance: how do you feel about attending Buffett's shareholders' meeting this time?
Wang Li: my biggest feeling this time is that Buffett is a little lonely without Munger, but I think he is still very strong and brings positive energy to everyone.
Sina Finance: for this year's Buffett shareholders' meeting, which investment topics do you pay more attention to?
Wang Li: in fact, I am more concerned about these categories mentioned by Buffett, such as clean energy and climate change. Of course, my professional influence investment has also been asked this time, and I am still very happy.
Sina Finance: you mentioned investment in areas such as clean energy, such as artificial intelligence, which is developing very rapidly, and the requirements for this energy can be said to be endless. So new energy, clean energy, and renewable resources are very hot topics in the field of investment. What do you think of the investment field of new energy and renewable resources?
Wang Li: research is out of the question, but I wonder whether this clean energy or this new energy may have reached this stage of overcapacity in China, will there be a round of washing? Will there be some non-performing assets? So we are preparing some funds to solve the problem of non-performing assets.
Sina Finance: now artificial intelligence is developing rapidly. In an exclusive interview with you through Sina Finance last year, you also mentioned some of your views on the investment field of artificial intelligence. In recent years, many big science and technology companies have entered the bureau one after another. what do you think is the change in your view of investment in artificial intelligence this year compared with last year?
Wang Li: compared with last year, the development of artificial intelligence is in full swing. However, I still have some reservations about many of these investments. The part that I really value artificial intelligence is its ethics. Because in the field of influential investment impact investing that I study, we pay more attention to this ethical issue, after all, artificial intelligence is not a real human right now.
Sina Finance and Economics: these ethical issues brought about by artificial intelligence, such as these security issues are indeed quite worrying. As an expert in the field of impact investment, in which industries do you think it is more suitable to make impact investment?
Wang Li: first of all, the impact of climate change on environmental protection. Recently, we have just mentioned the field of new energy and clean energy.
Sina Finance and Economics: now actively practicing the investment concept of ESG is an inevitable choice in this era of energy change. How do you evaluate the applicability of this ESG investment concept to the Chinese market?
Wang Li: ESG, I think there are three different views on it at present. I show these three views in this major research project, and then we choose to stand in line and express our opinions.
One view is that ESG is a necessity, and all enterprises, whether listed or not, have to make ESG reports, and then accept the evaluation of the society.
So another part of this view is that ESG should not be a category. Why? Because from now on, there is no investment that he does not attach importance to environmental protection, no investment that he does not attach importance to corporate governance, as well as the relationship with the community, and so on. So there is no need to use one word to say ESG.
Then there is one last view, that is, if I am an investment fund, I will just use this ESG as my risk management tool. Everyone can choose to stand in line with these three kinds.
Sina Finance and Economics: thank you for your sharing. You have recently proposed that this influential investment should not be at the expense of profits. You can share how enterprises can achieve commercial profits through influential investment at the same time. To have a very positive social impact?
Wang Li: we say that there are two criteria for influence investment, one is financial return, and in popular terms, it is necessary to make money. Another criterion is social influence. If we give up profits or financial returns for the sake of social influence, I don't think it is called influence investment, it should be called public welfare and charity. The real impact investment, we should be a socially influential business model from this business model, and then evaluate the financial return, this is the real impact.
Sina Finance and Economics: in this globalized economic situation, it seems that it has become an inevitable trend for corporate brands to go out to sea. You can share Chinese famous brands. How can Chinese enterprises quickly complete localization through this influential investment?
Wang Li: as we mentioned just now, this topic is out of the game if you can't go out to sea. We have two steps for Chinese enterprises to go to sea, one is called globalization, the other is called localization. Localization we need to reach a consensus in the local region or in this country or in that industry, and then we all agree on values. Globally speaking, it is the same values, that is, these 17 sustainable development goals of the United Nations, and integrating them into your business behavior is an impact investment. So I say that idealistic investment is actually the best tool for globalization and localization and global cooperation.
新浪财经：王总，根据您对当前形势的理解和对未来经济发展趋势的预测，您有什么样的建议给广大的投资者？
王莉：您是指散户还是机构？
新浪财经：任何散户和机构，如果您有什么样的建议，也可以分享一下。
王莉：因为我的专业是影响力投资，所以我在想目前这个阶段我感觉自己像一个布道者。但是通过刚才的这个演讲，很多年轻人，包括一些投资人开始探讨，我觉得这个概念可以更多的用到自己的投资理念里来。像巴菲特老先生所说的，不懂的不投，这个是我们最基本的理念。那么我们要学习影响力投资，懂影响力投资，然后去实践影响力投资。
还有一点，我们这个重复去年的那个观点，就是说假如说你的一生只有 10 次出手的机会，那么一定要珍惜这些机会。如果你认为现在不是最佳的时机，你可以不出手。就像巴菲特所说的，你出手的机会是在这个 10 个孔里打孔，那么你现在是在两个孔之间的时候，你先不要着急打孔。
新浪财经：是的，人们是永远赚不到认知以外的钱的。我们知道王总刚刚参加完新浪财经举办的中美投资人酒会，您的感受是如何的？
王莉：我觉得这个酒会非常非常必要，越来越必要了，因为中美投资人在很多事情上依然没有达成共识，或者说就像我刚才在演讲当中说的，这个世界是越来越分裂了，那么沟通是弥补分裂的最佳手段。
新浪财经：真的是非常同意王总的观点，谢谢王总的精彩分享，再次感谢王总接受新浪财经对您的专访。