In 1998, the amount of funds raised in the A-share market decreased by 48.4 billion yuan compared with 1997. www.biquge.infoIn 1999, the continuous decline before the Spring Festival made investor confidence insufficient, and the bottom reached 1084 points after the holiday.

In this case, the state has introduced a bailout policy:

Reduction of stamp duty on B shares

The approval documents include policy proposals such as reforming the stock issuance system, entering the market with insurance funds, gradually resolving the legal financing channels of securities companies, allowing some qualified securities companies to issue financing bonds, expanding the pilot scale of securities investment funds, invigorating the B-share market, and allowing some B-share and H-share companies to carry out pilot projects for stock repurchase.

The Shanghai Composite Index launched an offensive at 1047 points on May 19 of that year, and the direct flashpoint of the "5.19" market was Shanghai Securities News reporter Li Wei's "Can Internet Stocks Become Leaders - Thoughts on China's Listed Companies Entering the Internet Industry". In just one and a half months, the market jumped to 1,700 points, up nearly 70%. This is the famous "5.19" market in the history of Chinese securities. Many online technologies have multiplied several times, while traditional large-cap stocks have barely been volatile. It was in this round of market that Yi'an Technology broke the 100-yuan mark, but it eventually became a scandal.

On June 10, 1999, interest rates were cut. At the same time, the reserve requirement ratio and the refinancing and rediscount rates will be reduced.

On June 15, the "People's Daily" once again published a special commentator's article "Strengthen Confidence, Standardize Development", repeating that the stock market is a restorative rise, and requiring all parties to strengthen confidence, develop the stock market, and cherish the excellent situation of the stock market.

After listening to their words, I really strengthened my confidence, and I decided that no matter how the market rises or falls, I will not sell it first, since the country calls for buying stocks, it must not only rise for a month.

However, after all, the market is determined by the market, the stock market due to the momentum of the rise is too radical, the follow-up funds are insufficient, the network technology stocks have risen too much, the market makers have stopped in a timely manner, and a large number of network technology stocks have changed hands at a high level, and the market has entered a slow decline since June 30. At this time, the black stock commentators of various securities companies also appeared, and after 3 o'clock in the afternoon every day, they were in the securities hall to comment on stocks and brainwash various stockholders. At that time, I didn't understand that I couldn't fool people when I gave lectures, but I listened to them every day, and the lectures were very exciting, which would make people feel that the stock market would rebound tomorrow and the future was bright. The road is tortuous, and we cannot be blinded by temporary declines. Later, I thought about it, I can't blame people for their black stock reviews and lack of morality, I can only blame myself for being greedy, and stock speculation is originally the people's hearts for speculation.

At that time, we didn't want to think about it ourselves: the traders are not stupid, the Internet technology stock ship is a good U-turn, can they not go in again after they come out of there? , large-cap stocks will not be able to absorb enough chips for a while and a half, and they will not touch them, so why do we insist on it.

On September 8, 1999, the state clarified for the first time that state-owned enterprises, state-owned assets holding enterprises, and listed companies could participate in investing in stocks in the secondary market in addition to the placing of shares.

But these three types of companies are not saviors, and they will not participate in the downturn of the stock market, and then the stock market pulls back sharply. On January 4, 2000, the Shanghai Composite Index reached 1,361 points.

When the market is on 5.19, how greedy these shareholders are, how terrifying they are at 1361 points. At that time, many stock market celebrities began to study stock market theory and technology. After 2000, the stock market was no longer a simple situation of rising and falling, and the market trading methods gradually moved closer to futures traders. A large number of black mouths in the stock market were arrested after 2000, and the state gradually began to rectify and regulate the market environment. And I don't trust these bricks anymore.

The stock market is not doing well, and I have the idea of quitting. My brother, on the other hand, became more and more courageous, chatting and learning with various stock market celebrities on the Internet every day. I feel like I've got the magic weapon in the stock market. Let me cancel the account and transfer it to him to operate, and make money and divide it equally, I think about it. Although the market has been falling in the past few months, my stock has not lost money in general, but it has made less than the highest point. I transferred the money directly to him. Now he goes to work in the stock market every day, and I watch the door at home every day. His partner saw that my brother had no intention of doing business anymore, so he resigned from my brother and left.

So the two of us had a one-story villa which was a bit too big and wanted to check out. The landlord said, you have few people and few things, so don't refund it, I'll reduce the rent for you, and our rent fee will change from 2,000 yuan a month to 1,000 yuan a month. For my brother and me, who don't have a job, 1,600 yuan a month is still a bit high, and the pressure on housing is still very great, and my brother's mentality of making money is a little anxious, and the frequency of buying and selling stocks is high, and the stocks he buys do not rise the next day, so he usually sells them. Over the course of a week, basically every time it was a capital transaction, and I didn't catch the volatility. In this way, the handling fee cost a small 1,000 yuan in a week. I'm really speechless for him. I didn't want to look at stocks, I didn't want to listen to what he said, I was hooked on QQ chat.

At that time, I was probably the first generation of QQ users, and I still used a phone line to access the Internet, and the network speed was very slow, it seemed to be only 512K. Surfing the Internet is just chatting and going to the forums to have a look. At that time, NetEase was doing better than Sina, and it felt like the best thing to use was NetEase mailbox, and Sina also pushed mailboxes at that time, and it felt that it was not as easy to use as NetEase. There are also many servers on the Internet that can provide free forum promotion, no need for any certificates, you can apply for one yourself to be the host of the forum, piece together some content, and then call friends to play. At that time, the forum was a bit like our current WeChat. Gather a group of like-minded friends together to talk about life insights and debate views on the stock market, society, and life. Chatting and chatting became friends, exchanging QQ numbers, meeting or something is a common thing. At that time, there were many stories of meeting and dying, but it didn't happen in our circle of friends. Maybe everyone's starting point is different, and the final result will definitely be different.

After not repairing the computer and changing to a professional stock trader, my brother began to return to the family, and he began to ride his broken motorcycle home every day, so that at night, I was left alone in the empty villa. Because my brother wants to eat at my sister-in-law's house every night, I am too lazy to cook by myself, so I go to the vegetable market every afternoon to buy some tomatoes, or cucumbers to wash and eat raw, which is considered to solve the dinner.