Regarding the U.S. subprime mortgage crisis.

The signs started appearing last year, and by October 2007, it had seriously affected major markets such as the United States, the European Union, and Japan.

Storms don't just appear out of nowhere. Su Yehao had people specifically researching relevant trends since February.

He didn't choose to act until early September, when he began shorting numerous banks and the U.S. stock index, as well as giants like Lehman Brothers, Fannie Mae, Freddie Mac, Credit Suisse, Morgan Stanley, and Citibank.

This wasn't the best timing.

Soon after he started building positions, news broke that the United States was coordinating major financial institutions to jointly establish a $100 billion super fund to purchase distressed mortgage securities.

In addition, the Federal Reserve chose to lower the federal funds rate by fifty basis points.

Under the influence of these two positive news items, the market showed a brief resurgence, causing Su Yehao to lose a few coins, with a loss of $260 million in just five trading days.

The root of this crisis was simply that a group of Americans who bought houses at high prices in the previous few years, under the combined effects of falling house prices, rising interest rates, and reduced income, chose to go bankrupt and default, causing the subprime loans that had been packaged and resold to become garbage, affecting the stability of the financial market.

Su Yehao had been in the investment industry for a long time and was familiar with some classic market adages, one of which was "don't catch a falling knife."

In his opinion, the current attempts by numerous financial institutions in the United States to save the market were clearly akin to trying to catch a falling knife with bare hands.

If the real estate market doesn't recover, the income problem isn't solved, and mortgage rates aren't lowered, then only focusing on the financial market is like someone breaking a leg and the doctor not setting the bone but instead thinking about how to stitch it up to make the external wound look pretty.

However, this is also a helpless move. The connections between global financial markets are becoming increasingly close, and the entire financial system is interconnected. The mess of subprime loans is indeed not easy to solve.

Due to risk aversion needs, since the beginning of this year, a large number of international hot money have flocked to the Asia-Pacific market.

By early October, the Hang Seng Index had soared by more than 8,000 points, and the mainland stock market had also risen all the way, with an unstoppable momentum. The Shanghai Composite Index soared from around 4,000 points in June to more than 5,000 points in early October.

From the end of August to the beginning of October, Su Yehao had been busy reducing holdings and cashing out. In addition to his own cashing out, 5s Asset Management was also not idle, and a total of more than 300 billion Hong Kong dollars of funds were repatriated from the Asia-Pacific market, which only managed to suppress the stock prices of several companies that he heavily invested in to a relatively reasonable position.

It can only be said that the hot-headed stockholders are really explosively powerful. The stock prices of some demon stocks have risen tenfold, and there are still people continuing to tout them.

In the past.

Su Yehao might have been silly enough to try to pour cold water on them to calm them down.

The reality is that even if they know there is a bubble in the stock market, they still can't stop the stockholders' enthusiasm for rushing into the fire like moths and playing the pass-the-parcel game.

Or rather, they know there are risks, but under the stimulation of huge profits, they always think they will be the lucky ones, and even think that Su Yehao, who is kindly helping them, is blocking their path to wealth.

Under these circumstances.

Su Yehao, like many major shareholders, can just focus on cashing out. It's better to do less than more, and there's no need to ask for trouble.

Therefore, he didn't speak out, just buried his head in reducing his holdings.

Smart people can easily smell the signs of an impending storm from his operations. Such large-scale movements are as obvious as a blue whale raised in a pond, and cannot be hidden at all.

Su Yehao, who clearly didn't say anything, but seemed to have said something, saw his net worth further increase in this overheated market environment.

Not only did Asia-Pacific stocks continue to soar, but safe-haven funds also flowed into the Nasdaq market.

So that on October 14th.

When Su Yehao met Zheng Yongwen, he told the truth again:

"The current situation is like I'm saying no, no, but people are still desperately stuffing money into my arms, and I can't劝劝劝劝劝勸劝劝劝劝勸勸劝劝劝勸勸勸勸勸勸勸勸勸勸劝勸劝劝劝劝勸勸勸勸勸勸劝勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸劝勸勸勸劝勸劝勸勸勸勸勸勸勸勸勸勸勸劝勸劝劝劝劝劝劝劝劝劝劝劝勸劝劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝劝勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸劝勸劝勸劝劝劝勸勸劝勸勸勸勸劝劝勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸은勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸懇勸勸勸，與她說勸勸勸勸勸勸。

劝劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸劝劝勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸劝劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸讀導勸勧め勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸勸劝勸劝勸勸勸

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作者：孤胆蚂怨

About the subprime mortgage crisis in the United States.

Since last year, signs have emerged, and in October 2007, it has seriously affected major markets such as the United States, the European Union, and Japan.

Storms don't just come out of nowhere. Su Yehao had people specifically study the relevant trends since February of this year.

It wasn't until early September that he chose to take action, starting to try shorting many banks and the American stock index, as well as giants such as Lehman Brothers, Fannie Mae, Freddie Mac, Credit Suisse, Morgan Stanley, and Citigroup.

This wasn't a very good time.

Not long after he started building positions, news came from the market that the United States was coordinating major financial institutions to jointly establish a super fund worth 100 billion US dollars to purchase troubled mortgage securities.

In addition, the Federal Reserve also chose to lower the federal funds rate by fifty basis points.

Under the influence of these two pieces of good news, the market had a bit of a last gasp, causing Su Yehao to lose a few steel coins, losing 260 million US dollars in just five trading days.

The root of this crisis is nothing more than the fact that those Americans who bought houses at high prices in the past few years, under the multiple influences of falling house prices, rising interest rates, and reduced income, have chosen to go bankrupt and default, causing the subprime loans that have been packaged and resold to become garbage, affecting the stability of the financial market.

Su Yehao has been in the investment industry for a long time and knows the classic market mottoes like the back of his hand, one of which is "don't catch a falling knife with your bare hands."

In his opinion, the current attempts by many financial institutions in the United States to save the market are obviously a bit like trying to catch a falling knife with their bare hands.

If the real estate market doesn't recover, the income problem isn't solved, and mortgage rates aren't lowered, then only focusing on the financial market is like someone breaking a leg and the doctor not setting the bone but instead thinking about how to stitch it up to make the external wound look pretty.

However, this is also a helpless move. The connection between global financial markets is becoming increasingly close, and the entire financial system is interconnected. The mess of subprime loans is indeed not so easy to solve.

Out of the need for risk aversion, since the beginning of this year, many international hot money have flocked to the Asia-Pacific market.

By early October, the Hang Seng Index had soared by more than 8,000 points, and the mainland stock market had also risen all the way, with unstoppable momentum. The Shanghai Composite Index soared from around 4,000 points in June to more than 5,000 points in early October.

From the end of August to the beginning of October, Su Yehao had been busy reducing holdings and cashing out. In addition to his own cashing out, 5s Asset Management was also not idle, and a total of more than 300 billion Hong Kong dollars of funds were repatriated from the Asia-Pacific market, which only managed to suppress the stock prices of several companies that he heavily invested in to a relatively reasonable position.

In response, it can only be said that the hot-headed stockholders are really explosively powerful. The stock prices of some demon stocks have risen tenfold, and there are still people continuing to tout them.

In the past.

Su Yehao might have been silly and tried to pour cold water on them to calm them down.

The reality is that even if they know there is a bubble in the stock market, they still can't stop the stockholders' enthusiasm for rushing into the fire like moths and playing the pass-the-parcel game.

Or rather, they know there are risks, but under the stimulation of huge profits, they always think they will be the lucky ones, and even think that Su Yehao, who is kindly helping them, is blocking their path to wealth.

Under these circumstances.

Su Yehao, like many major shareholders, can just focus on cashing out. It's better to do less than more, and there's no need to ask for trouble.

Therefore, he doesn't speak out, just buries his head in reducing his holdings.

Smart people can easily smell the signs of an impending storm from his operations. Such large-scale movements are as obvious as a blue whale raised in a pond, and cannot be hidden at all.

Su Yehao, who clearly didn't say anything, but seemed to have said something, saw his net worth further increase in this overheated market environment.

Not only did Asia-Pacific stocks continue to soar, but safe-haven funds also flowed into the Nasdaq market.

So that on October 14th.

When Su Yehao met Zheng Yongwen, he told the truth again:

"The current situation is like I'm saying no, no, but people are still desperately stuffing money into my arms, and I can't stop them. Tell me, isn't that painful?"

Zheng Yongwen finally made it to the top.

Relying on his youth, he successfully outlasted the previous head of the board of directors, who was now six feet under, and took the position of chairman of the Hong Kong Stock Exchange from the CEO position.

After listening to Su Yehao's words, he had a strange expression and told him:

"I don't know if you're in pain, but I'm very uncomfortable. Every time I see you, my mentality is like I've been beaten up by a group of people. Next time, give me some psychological treatment fees before I chat with you."

Su Yehao said in a Buddhist tone:

"You've seen big scenes, and you have an average daily turnover of hundreds of billions of Hong Kong dollars under your control. How can you be so fragile? I really can't complain to anyone now. Saying anything is like Versailles. Life is simply impossible."

Zheng Yongwen rolled his eyes in anger and said:

"The money in the market isn't my own money. I'm just an ordinary senior employee. I'm tired of making money for you bosses all day long. The higher you climb, the harder you fall. In recent days, the mainland market and our Hong Kong Stock Exchange have been showing very strange trends."

"I feel it too. Yong-ge, you asked me to post a message earlier, reminding investors to pay attention to avoiding risks. Do you still need it now?"

"...Are you deliberately asking? With the current situation in the market, how can it withstand your torment? Wasn't it enough to successfully snipe the Nasdaq back then? When you get ruthless, you even attack your own people?"

Zheng Yongwen has been managing the Hong Kong Stock Exchange for several years, so of course he knows that the situation is not right, and it is quite wrong.

A large number of international hot money came to invest, and they didn't have good intentions in the first place. Now that these troublemakers have gained something, there has been a net outflow of foreign capital for several consecutive trading days.

Under these circumstances, even if he says a few more words, a mass exodus may be staged, let alone Su Yehao, a "heavyweight player," personally taking the field.

Zheng Yongwen said angrily:

"I asked you for help in early September, but you couldn't squeeze a fart out of you. Now that the soil is buried up to your skull, you want to jump out and cut the韭菜 (jiao cai, leeks, referring to small investors), could it be that your short positions have already been built?"

"...Don't worry about these small details. The bubble in early September was also considerable. It's thankless to prick the bubble. I'm very low-key now, okay? Including 5s Asset Management, 5s International Financial Investment Bank, and Koko Venture Capital, haven't they all come forward to remind people? In the end, the investors treat it as a fart. What can I, a salted fish in a semi-retired state, do?"

Even so.

But Su Yehao's large-scale reduction of holdings and cashing out is actually helping.

The principle is similar to that of the Three Gorges Dam. How much electricity is generated is secondary, and the most important function is to regulate the water flow, releasing water in the spring and storing water in the summer, meeting the needs of agricultural irrigation and shipping, while trying to avoid causing severe floods.

If it weren't for his unscrupulousness in frantically cashing out more than 300 billion Hong Kong dollars in just over two months, the Shanghai Composite Index would probably have exceeded 6,000 points long ago.

Now it's barely over 5,600, and the power is already much smaller.

It can be said that in the past two or three months, both the mainland and Hong Kong stock markets have been shrouded in Su Yehao's selling pressure.

Even if he didn't show up or speak out at all.

You should know that Su Yehao's investments have never lost, and he has never missed a business he's set his sights on.

Seeing him run away frantically, fleeing the scene as if his life depended on it, other investors couldn't help but feel uneasy, and the impact on the stock market was no less than a central bank interest rate hike.

The online comments were also selectively released under Su Yehao's instructions.

Reducing the exposure of good news and focusing on promoting bad news naturally creates a sense of crisis, which has quietly helped a great deal.

The power of the bubble has been reduced by one or two orders of magnitude...