Major investment banks saw the Bloomberg News report, and many individual investors in America couldn't help but frown after reading Kyle's description.
"NASDAQ will crash?!"
Herbory is a middle manager at a listed energy company with many years of stock market investment experience. With the NASDAQ's crazy surge, he had invested over 1 million U.S. dollars, and his profits were indeed considerable.
Kyle's "avalanche" theory made him feel a strong sense of unease.
"If everything is really as Kyle Page said, then I will suffer heavy losses!" Herbory grew anxious.
Immediately, he contacted his financial advisor.
"Haha!"
Financial advisor Bamile laughed heartily, "You actually believe Kyle Page's words? Don't look at him as a major shareholder of the investment company Gale Capital; he's an amateur, he knows nothing."
Herbory breathed a sigh of relief and tentatively asked, "So NASDAQ won't crash?"
"Who knows?"
Financial advisor Bamile said in a deep voice, "Nothing is absolute. I don't know if NASDAQ will crash, but it definitely won't happen in the near future. Hmm, I say, Herbory, don't do anything foolish. The current stock market is a once-in-a-lifetime opportunity to make money. You'll regret selling your stocks now."
Herbory: "..."
He gritted his teeth and ultimately decided to listen to his financial advisor, Bamile.
He who is not for himself shall be destroyed by heaven and earth.
Now is a good time to make money!
As a middle manager of a listed energy company, Herbory's annual income was not low, totaling 250,000 U.S. dollars. However... his recent stock market gains, in less than 5 months, amounted to a staggering 780,000 U.S. dollars, equivalent to three years of his work income.
Does he still need to consider how to choose?
...Summit Entertainment.
This film company has only been established for a few years, but it's not entirely unknown. The movie "Lock, Stock and Two Smoking Barrels," starring Jason Statham and others, which they distributed, earned them a lot of money.
Of course, in the future, Summit Entertainment would be even more brilliant.
The "twilight" series, the "step up" series, the "Now You See Me" series, the "Divergent" series, "The Hurt Locker," "Source Code"... these films were all produced and distributed by Summit Entertainment after entering the 21st century.
Especially the "twilight" series, although the plot was clichéd and it was a Mary Jane Sue-style movie that satisfied girls' fantasies, you can't deny its low box office; its money-making ability was unusually strong.
Of course, this was in the future, not early 2000.
Today's Summit Entertainment, even if it has a certain reputation, is just a little brother compared to the hundreds of film and television production companies in Hollywood.
"Alarmist!"
"He actually said that the NASDAQ stock market is overheated, a false prosperity, and he's criticizing the current internet economy. But didn't Kyle Page himself get rich by relying on internet and tech stocks?"
"He made money himself, billions of U.S. dollars, and now he's shamelessly saying there are huge risks. Tsk tsk tsk, it's simply laughable!"
Patrick Wachsberger, one of Summit Entertainment's three giants, was full of disdain for Kyle's remarks.
Eating from the bowl and then cursing the mother.
The other two of Summit Entertainment's three giants, Bob Hayward and David Garrett, also strongly disapproved of Kyle's behavior.
You know, Summit Entertainment's three giants had heavily invested in NASDAQ!
They had successively invested up to 60 million U.S. dollars.
Bob Hayward scoffed, "Even if NASDAQ crashes one day in the future, it definitely won't be anytime soon. You know, the nasdaq index is currently rushing towards the 5000-point mark."
"Well said!" Patrick Wachsberger applauded.
However, David Garrett frowned and said in a deep voice, "Although I also look down on Kyle Page, I think we should be more conservative and sell a portion of our stocks first."
Hearing this, Patrick was greatly surprised and said, "Are you crazy? Now is the time to make big money!"
Bob Hayward was not so polite; he sneered, "If you want to back out, back out yourself, don't stop me from getting rich."
David Garrett nodded.
In fact, several months ago, after he had just made a profit in the stock market, he had planned to withdraw. After all, he was a relatively pure filmmaker and had little interest in stock speculation.
"Perhaps, I really should choose to sell my stocks and cash in."
That's right, David Garrett, one of Summit's three giants, decided to sell his stocks...
At the same time.
Many people across the U.S. saw Kyle's remarks in Bloomberg News.
Most people scoffed, read it, made a few jokes, and then tossed the newspaper aside.
"The nasdaq index is almost at 5000 points; it's a great opportunity to make money."
"It won't crash!"
"Even if it crashes, how much can it fall?"
"That's right, I've made a lot of money in the stock market. Even if danger really comes, I can just sell then. Compared to the huge profits, I'm not afraid of some losses."
"They all say Kyle Page has a unique vision, but ever since he became a billionaire, he's become timid, as small as... a pinhole, haha."
"God would think Kyle Page is a foolish fellow."
They didn't believe Kyle's words, nor were they willing to believe Kyle's "stock market crash" remarks.
Sometimes, people are very stubborn.
They didn't care about the truth; they only believed what they perceived as the truth.
Of course... Kyle's argument wasn't entirely disbelieved; it also received recognition from some stockholders.
"I don't have much capital, so I might as well sell my stocks. After all, I've already earned a good amount."
"Yes, in just one year, I made 200,000 U.S. dollars from the NASDAQ stock market. I'm content."
"Sell? Of course, I'll sell, and right now! I absolutely believe in Kyle Page; he is my faith."
Thus, in the following days, many stockholders successively chose to sell their shares. However, with more people adhering to the idea of "not selling" and "continuing to hold," these sold-off shares were almost entirely bought up by others.
Not even a ripple was made.
As of February 20, 2000, Gale Capital had sold all of its NASDAQ internet and tech stocks.
An investment of 3 billion U.S. dollars ultimately yielded 5.37 billion U.S. dollars from the sales.
The recorded profit amounted to an astonishing 2.37 billion U.S. dollars.
This performance alone surpassed 98% of companies on Wall Street, and it was a profit performance that many listed companies could hardly achieve.
In a word, Kyle made a fortune.
Even though Gale Capital's money came from clients from all walks of life, not Kyle's personal money, it had already exceeded the set annual profit target of 7% for clients. Plus, with service fees, management fees, and other income... the final profit that could be allocated to Kyle's personal account amounted to 910 million U.S. dollars.
Kyle had a constant smile on his face these past few days, feeling delighted.
However... Kyle's "avalanche" theory, as NASDAQ continued to release positive news and its index kept rising, gradually became a "joke" in everyone's mouths.
"Where's the avalanche?"
Henry Eugenber, the former president of Gale Capital and current owner of Hurricane God, sneered, "Kyle Page is a coward. NASDAQ will not only not crash, but I believe it will get better and better; it's creating a myth."
Henry's words were not kept secret.
Thus, within a few hours, almost everyone on Wall Street knew about it.
"He's just a joke." Many people laughed.
Andy Cherop looked at Kyle with an awkward expression: "Boss, it's spread all over Wall Street now."
Kyle wasn't annoyed at all. He waved his hand and said, "No rush, it's not over yet."
It was indeed not over.
Kyle was waiting!
Waiting for an opportunity!
It was almost the end of February.
America's tax season had begun, and many listed companies needed to disclose their financial reports and profit/loss data from late 1999 to early 2000 before filing taxes.
"Once the revenues of major internet listed companies are far below market expectations on a large scale, or even suffer huge losses, what do you think will happen to this stock market, which is like a volcanic eruption?" Kyle narrowed his eyes.
Bang!
The stock market exploding is not far off!