AOL is a company worth speculating on, not a value investment, and holding it for the long term is better than cashing out before the bubble bursts.

Why is the value of speculation enormous?

Because the U.S. online business is very huge, its development positioning is not just a simple portal, it is an IPS Internet dial-up supply service provider, the business scope also involves portals, instant messaging, e-commerce, search, browsers, etc., almost the entire Internet industry AOL is inserted into a kick, but the market share of the U.S. online is relatively low, and the influence is not big enough, but even so, the global Internet concept stocks are hot, especially under the U.S. Internet boom, AOL is amazingly profitable, with a total market value of more than $300 billion in 2000。

Therefore, Li Jun's positioning is very accurate, and he is speculating in American online Internet companies.

That was more than 300 billion US dollars at the beginning of the century, and China's GDP at that time was only more than 10 trillion yuan, and according to the exchange rate at that time, its market value was ...... It was terrifying, exceeding the GDP of most countries in the world at that time.

It was crazy times.

The era of windfall profits on Internet stocks.

AOL's stock price is like a doping, and of course, after the doping has taken effect, it will weaken, and finally the Internet bubble will burst.

Li Jun began to buy outstanding shares on the New York Stock Market.

In addition to buying AOL, it also bought many Internet companies that rushed to high prices during the bubble period, such as Excite, which now has a market value of only $100 million and a stock price of not a dollar, but in the Internet bubble era, even if it loses tens of millions of dollars every year, this has not affected the company's stock price to rise, and the company's market value is as high as $35 billion in the heyday of the bubble.

Its market value has also increased by more than 300 times.

In the bubble era, there are many companies like Excite, and some U.S. imperialist companies have changed their names, such as adding the word "i" or even "com" to the company's name, as long as it is slightly linked to IT, no matter what the main business is, the stock will be frantically snapped up by investment institutions and shareholders.

There are also many Internet companies that do not even have a viable business model, not only do not provide products and services or even have no users, but only have millions of venture capital and IPO financing in their hands.

For example, Morgan Stanley, who runs the World Wide Web, has a website that allows people to choose the best flight price for their price online, is ready for an initial public offering, and Morgan Stanley, who runs the IPO, rented a ballroom at the Mets Club at 1 East Sixteenth Street to introduce Wall Street analysts and fund managers to the CEO of Prislinger.

The location of the ballroom was well chosen, the Cosmopolitan Club was a luxury legacy of the last Gilded Age, resplendent of the past, and the owner of Preslin told them that their story had the potential to revolutionize not only the tourism industry, but also the car sales and financial services industry, which was undoubtedly a boast for a company that was less than a year old and had only 100 employees, but no one in the room questioned the other party's display.

Just because Prislin is an Internet company, and the founder and board members are very famous, all Wall Street people think that Prislin will become the latest "Internet blue chip".

Another example is that the fashion website burned $100 million, which came from ****, Goldman Sachs and the Benetton family, but only built a website. Where did the $100 million go?

Later generations explored and found that they were just crazy to advertise in major media, offering high salaries to their employees, equipping employees with nearly 10,000 yuan of office chairs, and entrepreneurs flying around all day long to show their faces, giving speeches and boasting everywhere......

Another example is the pet products e-commerce website, which had a mess of operations and losses before listing, and got billions of dollars after listing. There are some employees of publicly traded Internet companies who wander around the company on weekdays, or indulge in video games and foosball at the company......

The establishment of a so-called Internet company will make money.

Under the impetus of that IT boom, the crazy stock market formed bubbles one after another, and at that time, Internet companies did not form a complete, profitable productivity, and could only rely on the continuous growth of stock prices.

So much so that at the peak of the bubble, that is, when the financial statements were issued the following year, the financial statements were ugly, investors' confidence was reduced, and then the market was panicked, and finally there was a big crash like a mountain of defeat.

What Nortel network, Lucent Technology has fallen from more than 100 dollars to less than a dollar.

On April 4, 2001, the NASDAQ index plummeted, wiping $3 trillion out of market value in one day...... The people who shot before that day were all God's favorers, and they were all robbing a lot of money.

However, Li Jun is not buying the bottom of the cabbage price of such a company now, but buying the bottom of some Internet companies that have a relatively high price and have room for speculation.

Some old guys on Wall Street, even if Warren Buffett rejects the Internet and does not accept Internet companies, which is in stark contrast to the upcoming Internet hype.

Everyone is completely irrational and enters the investment and trading of Internet stocks like a fierce child.

Of course, in addition to speculating on American Internet companies, Li Jun is also ready to invest in Internet companies with great potential in the future, Cisco, Netscape, Yahoo, none of these giants has a heavy weight in Li Jun's heart, that is, Amazon!

Absolute blue chips!

Seattle.

30 April 1994.

On this day, Bezos, the richest man in the future world, surpassing Bill Gates and many other glories, was surfing the Internet, and he accidentally entered a website and saw a number - 2300%!

2300%！

The number of Internet users is growing at this rate every year, and when Seattle's Microsoft has grown into a towering tree, Bezos's eyes are full of light when he sees this number, and he hopes that he can be like Microsoft, and he can also succeed in the IT industry and be a trendsetter on the cusp of the Internet wave.

Do what you think!

Act now.

Bezos listed more than 20 items, then eliminated them one by one, reduced them down to books and music, and finally chose to sell books first.

Books are particularly suitable for online display, and the United States, as a big publishing country, has as many as 1.3 million kinds of books, while only 20~300,000 kinds of music products; the book distribution industry has a large market space, the annual sales of this industry is 260 billion US dollars, but with more than 1,000 branches, the largest chain bookstore in the United States, and the world's largest bookstore, the annual sales of only 12%.