Although the decline of the index was only more than 70 points by the end of the day, the amplitude of more than 600 points throughout the day made the entire Wall Street lose its voice. Pen % fun % Pavilion www.biquge.info

Will the bubble of Internet technology stocks be punctured?

Wall Street is thinking, the financial media is thinking, the Nasdaq market board is thinking, the Federal Reserve chairman is thinking, and investors who hold online technology stocks are thinking even more.

But the New York fund managed by Tony Sr., the London fund managed by Guo Jianmin, and the bayside securities managed by Liu Meijia do not need to think.

The decline that started from more than 5,000 points is only a drop of more than 1,000 points so far, but those companies with poor performance and just telling stories and talking about prospects have lost seventy or eighty percent of their market value in the industry in the past few days, and the original hundreds of millions of book wealth have come to naught, not to mention, but the founders of companies who have used equity mortgages are likely to lose ownership and control of the company overnight, and even directly become 'negative' and need to apply for bankruptcy protection.

Unlike domestic U.S. stocks, which only make money by going long, the profits that can be made by shorting may be higher than the profits that can be made by going long.

Theoretically, as long as the direction is chosen correctly, no matter how large the target market value is, once the short seller breaks through a certain threshold, it will lead to a joint suppression of stop-loss orders and follow-up orders, which is really a disaster for listed companies.

Yahu, Amazon and other companies are the leaders of this round of network technology stock industry, but Yahu has fallen since mid-January because of the drag of the online broadcasting company's merger and acquisition, and Amazon has peaked as early as the end of last year, and the mainstays have been finished.

Knowing the direction of the market clearly, Fu Zhengyi was also shocked by the profits brought by the decline in the past few days.

The NASDAQ index has fallen by 20 percent, but the net profit of the leveraged asset management account has exceeded 3 billion, and the profit of those accounts belonging to him has reached 10 billion.

The high-net-worth clients who withdrew from the New York fund in early March no longer hold shares of the New York fund, but they still pay attention to the changes in the net value of the New York fund, so they have witnessed the continuous surge in the net value of the New York fund and realized how high the profit loss caused by their withdrawal is.

Those who invested in Mar's Fund felt lucky because of the increase in the net value of Mar's Fund Company, and felt that even though the net value growth of Mar's Fund was far less than that of New York Fund Company, at least the sharp fall of the Nasdaq index did not make their wealth shrink significantly.

However, those customers who withdrew from the New York fund company and invested in other fund companies have tasted the bitterness, seeing that the profits that should have belonged to them have turned into net losses, the difference is so big, the psychological impact is so serious, if you don't have a strong heart, it is estimated that it is not far from embracing Marx!

Tony sighed after reporting the situation. "Ten minutes before the market closes, I saw a man fall from above......"

has not yet gotten rid of the concept of Microsoft's Bill and the world's richest man, Fu Zhengyi said at a loss. "What fell?"

"Someone jumped off the building in front of my eyes! And I know him! That guy is a good old man, kind and humble, he just hugged his grandson, and I went to his house with gifts at the beginning of the month, and met his daughter and son-in-law......"

The New York fund moved to Wall Street, and Tony Sr.'s office was able to see Wall Street's most famous cathedral, and Fu Zhengyi understood what was happening. "The investment failed?"

"I have known that old guy for nearly 50 years, and when I went to his house last month, I also talked to him about the market, about bubbles, about the Great Depression, and about the stock market crash, but the fund he is in charge of is used to being conservative and cautious, which makes the scale of the fund he is in charge of inevitably encounter a crisis of confidence when the market is hot, but he escaped the stock market crash of 87 years, but he has not escaped this time......

As Tony Sr. narrates, the image of a gray-haired, cheerful old man comes to life, as if he is sitting in front of him, wearing an old-fashioned suit, an old-fashioned password briefcase on the table, and reading glasses, staring at the computer screen and studying the market trend.

"Six! This is the sixth! The last time was '87, and the four people I knew either finished dinner and jumped off the Empire State Building, or they jumped straight out of their offices before they even had time to make a reservation for dinner......

finally sensed that he was in an inappropriate mood and said justice. "Tony, when did the New York Fund start issuing stock market bubble warnings?"

"Huh, it started in the middle of January, right?"

"At first, it was once a week, then twice a week, and in March, warnings were continuously issued, and everything that should be said and what should not be said was ......"

"Yes, yes, I've said everything that shouldn't be said, what else can I do......"

"Go back early, leave the things in the company to the people below, I suggest you give yourself a holiday, a good rest for a few days, and then go back to the office next week, and then pay attention to the market, OK?"

"Thank you, I think it's time for me to go see my granddaughter, if I don't go, maybe she'll forget about my grandfather......"

After appeasing old Tony, Fu Zhengyi hung up the phone and couldn't help but sigh.

He clearly understands that no matter whether he participates in this market or not, the collapse of Internet technology stocks this time is inevitable, and it is not subject to anyone's will.

But every penny of profit on the books, in addition to the wealth belonging to Wall Street's investment banks and sovereign wealth funds, will still involve thousands of independent individuals.

The guy who jumped off the building that Tony old knew would neither be the first nor the last, as long as someone participated in this market, there must be someone who would have to bear the volatility and bear the loss.

But in my heart, I'm still a little uncomfortable......

He was thinking about how to relieve his mood when Ran Ying knocked on the door and walked in, saying that Sergey from Google had called and had something important to communicate with him.

After receiving the phone, Fu Zhengyi asked what was the matter?

"Someone is ready to sue the company, technology theft ......"