Wednesday, March 1st.
At 9 a.m. Eastern Time, as one of the VIP clients of AtIc Securities Company, Quantum Fund Manager Druckenmiller opened his mailbox as usual and browsed the investment analysis reports on the stock market, futures, foreign exchange market, and bond market provided by the securities company. I was shocked.
In 2 months, the Dow Jones stock index fell by 15%. During the same period, the Nasdaq index soared by more than 30%. The vast majority of Internet technology stocks have lost their investment value. VIP customers are advised to settle for safety; VIP customers are advised to continue to wait and see the Dow Jones index.
Drucken accurately predicted the collapse of the Japanese stock market in 1990, and made a perfect bet on the devaluation of the pound in 1992. He was appointed by Soros as the manager of Quantum Fund. As the world's top fund manager, in late October last year, Quantum Fund invested US$200 million in short selling. In less than a month, Quantum Fund lost US$600 million on its books, including VoL, Yahoo, Netscape, Ebay, Amazon, webvan, Red Hat and other 12 seriously overvalued new technology stocks.
Quantum Fund holders redeemed the fund one after another, causing Quantum Fund's shares to decrease by 20% within a month. Drucken, who believed in value investing, remained unmoved. Both Soros and Drucken believed that value investing would never go out of style. Today's market is in an irrational period.
AtIc Securities Company provides VIP clients with investment analysis reports on the stock market, futures, foreign exchange market, and bond market. It has a high reputation. Many securities companies and funds have sent people to deposit US$500,000 in AtIc Securities Company and pay an annual VIP fee of US$10,000. , just to get a VIP customer analysis report every trading day.
To prevent the investment analysis reports on the stock market, futures, foreign exchange market and bond market sent to VIP customers from being used by others, at 9 o'clock every trading day, the customer service department of AtIc Securities Company is responsible for sending them to the mailbox of each VIP customer.
In order to refer to the investment analysis reports on the stock market, futures, foreign exchange market and bond market released by AtIc Securities Company every trading day, at the end of November 1999, Druken also opened a VIP account in the sales department of AtIc Securities Company and deposited US$500,000. , spending $10,000 to buy a 1-year VIP investment analysis report.
On January 3, 2000, the first trading day, the customer service department of AtIc Securities Company suddenly issued an investment analysis report among VIP customers that was short on the Dow Jones Index and continued to be long on the Nasdaq Index. The Dow Jones Index and the Nasdaq Index Both rose, but AtIc Securities remained unmoved. It issued investment analysis reports for one week in a row that were bearish on the Dow Jones Index and continued to be long on the Nasdaq Index. However, the Dow Jones Index rose slightly within a week. By January 10, the Dow Jones Index The index rose by more than 100 points (an increase of nearly 1%), and the Nasdaq index rose by 175 points (an increase of 4.65%). The VIP customers who were long on the Nasdaq market stocks were happy, and the VIP customers who sold the Dow Jones market stocks were happy. Regret endlessly.
Drucken was laughing.
On January 11, AtIc Securities Company continued to publish investment analysis reports that were bearish on the Dow Jones Index and bullish on the Nasdaq Index.
Without the influence of any bad news, the Dow Jones stock index suddenly jumped short and opened lower. Bulls were unable to resist. It fell 103 points in one day, erasing a week's gains. VIP customers who sold stocks in the Dow Jones market laughed.
The Nasdaq fell 12 points.
Drucken didn't pay much attention.
On the 12th, while the Nasdaq index rebounded sharply by 75 points (an increase of 1.92%), the Dow Jones index continued to fall by 45 points.
Drucken was depressed.
On February 25, as the Nasdaq index continued to hit new highs, rising by more than 27.45%, while the Dow Jones market stocks fell 13.5% during the same period, the Nasdaq market's trading volume exceeded the Dow Jones market by 50% for 2 consecutive months. , expert analysis shows that a large number of value investors sold blue-chip stocks on the Dow Jones market and turned around to buy Internet technology stocks on the Nasdaq market.
The holders of the Quantum Fund voted with their feet and made continuous redemptions. If no other solution was found, the Quantum Fund would face the dilemma of liquidation. After Drucken asked Soros for instructions, he ordered the sale of Citigroup, Bank of America, Wells Fargo, and Bank of America in the Dow Jones market. Blue-chip stocks such as JPMorgan Chase, Coca-Cola, PepsiCo, Berkshire, and Pfizer Pharmaceuticals, and network technology stocks such as Cisco, Qualcomm, Microsoft, Intel, IBM, Charles Schwab, NbtY, and W on the Nasdaq market.
On February 27, blue chip stocks such as Citigroup, Bank of America, Wells Fargo, JPMorgan Chase, and Coca-Cola continued to fall, and network technology stocks such as Cisco, Qualcomm, Microsoft, Intel, and IBM continued to go crazy.
Quantum Fund's shares suddenly increased by 100,000 shares. Soros and Drucken breathed a sigh of relief and regretted their late decision.
On the 28th, blue chip stocks continued to fall, and network technology stocks continued to go crazy.
From January 3, AtIc Securities issued an investment analysis report among VIP clients that was bearish on the Dow Jones Index and continued to be bullish on the Nasdaq Index. By March 1, within two months of trading, the Dow Jones Index went from It started to fall from a maximum of .68 points, and closed at 9508.25 points yesterday (February 29), down 1679.43 points, or 15.1%; according to the analysis report, VIP customers who shipped goods in advance were equivalent to avoiding a 15.1% loss, and VIP customers who did not ship goods The customer regrets it too late.
During the same period, the Nasdaq index started to rise from 3875.09 points, with a sharp increase and a small rebound. Yesterday it closed at 5087.62 points, an increase of 1212.53 points, or 31.29%. VIP customers who operated according to the analysis report made a lot of money.
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On March 1, the Nasdaq index opened at 5092.48 points, hit a record high of 5109.74 points, and closed at 5103.45 points, up 15.83 points, with trading volume increasing by 30%.
Both quantity and price rise!
The Dow Jones index opened at 9509.72 points, and UU Reading n both long and short parties ceased their efforts. It closed at 9510.93 points, an increase of 2.68 points, and the trading volume shrank by 10% year-on-year.
Drucken finally felt relieved.
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On March 2, influenced by AtIc Securities Company’s investment analysis report that continued to be bearish on the Nasdaq Index and continued to wait and see the Dow Jones Index among VIP clients, the Nasdaq Index opened at 5097.27 points, opening 6.18 points lower. Under the pressure of profit-taking, the stock index dropped to 5085.47 points. Copycats poured in and bulls made efforts. The stock index quickly turned red and hit a record high of 5113.45 points during the session. It fell back in late trading and closed at 5107.87 points. It rose by 4.42 points, and the trading volume increased by 25% year-on-year.
Volume and price both rose.
The Dow Jones stock index opened lower at 9507.63 points. Shorts dominated and bulls were unable to resist. It stayed below the low opening point throughout the day and closed at 9490.24 points, down 20.69 points. Trading volume decreased by 15% year-on-year.
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"Congratulations, Mr. Ding!"
"Congratulations, Mr. Tian!"
"Congratulations Mr. Liu!"
"Thank you Mr. Sun"
…
On March 3, 5 million shares of AsiaInfo Technology Holdings Co., Ltd. (referred to as AsiaInfo) were listed for trading on the Nasdaq Stock Exchange at a non-public offering price of US$24, stock code: ASIA.
Wukong Angel Investment Fund holds 18.75% of AsiaInfo Technology's shares and is the second largest shareholder. Sun Jian was invited to participate in AsiaInfo Technology's listing bell-ringing ceremony.
AsiaInfo Technology opened at $68.88, up 187%, becoming the sixth Chinese concept stock to be successfully listed on the Nasdaq Stock Exchange.
