Another 5-19 years old can reproduce

Ten years ago today, a network, technology-oriented "5 19" market suddenly come to a stock market often a time, as long as it is stained with "dot net" edge, the stock price of the majority of continuous trading, a short time doubled the stock of a few.　　The Riyuerusuo of the past ten years, the decade after the Today, technology can reproduce the brilliance of the year, deduce the return of the king? ⊙ Yukei Investment has changed over the past <<< technology technology has a new connotation from the perspective of today's review 10 years ago, "5 19" market, so that the old investors involved in it so far unforgettable. Ten years ago, when most Chinese did not know what the Internet was, the new Internet was emerging as the main carrier of the new economy in the United States on the other side of the ocean. Microsoft, Yahoo, Amazon and other network shares in the Nasdaq market in the hurricane.　　Network shares dozens of times times, the rise of a hundredfold quickly attracted the world's attention. News came that the Chinese stock market, which had never been lonely, would certainly not miss the opportunity. Although at that time the people of the network, technology is still at the beginning of chaos, the state of confusion, but this does not prevent people on the network science and technology topics of excavation and deduction. Comprehensive arts shares, the Oriental Pearl, Shanghai Merlin, and so a large number of stocks became the most dazzling star on the market. However, because people's knowledge of network technology is very superficial, so market behavior is also inevitable blind and irrational. At present, a company through its own web site to promote products, procurement materials is a common thing, but ten years ago, this theme can be used as a network stocks to fry. Some companies in order to catch the "5 19" market of the shuttle and arty, but the name of the company by a certain technology, the stock price can be soaring.　　There is even a personal investor to build a website to the listed companies so as to become the news of the network shares, can also make the stock price continuous trading so that today seems to be a ridiculous thing. However, with the bursting of the American dotcom bubble, China's "5 19" market has gradually faded away, the network technology stocks began to return to the long bear. In the next 10 years, with the continuous progress and development of science and technology, people have a deeper understanding of technical stocks. In fact, the reference to "technology stocks" is also very inaccurate, and the term "technologies" has long been unable to cover the business scope of a particular listed company. For example, the automotive industry is a traditional industry, but its technological content and manufacturing process is far from the complexity of the average network company comparable. and seemingly scientific and technological electronic components manufacturing, due to its technology has been extremely mature, at present has become a low profit level of the general processing industry.　　So today's "technology" has a new connotation. Market mature <<< Speculation more important substance can not be denied, although the time has passed 10 years, but the market for science and technology has always been a unique theme, in each wave of the larger market, the rise in the former stock of their figure. In that year's "5 19" market, because the supervision means is not perfect, the agency Republicans is the mainstream operation means of that era, even the fund and other institutions castThe investors, also due to the cognitive constraints at that time and derived from the original market forces, so difficult to get rid of the "speculation" style, some technology and even a group of pseudo technology stocks were heavily guarded by the fund, speculative atmosphere is very strong. However, as the market matures, the concept of value investment is deeply rooted, the market in the hype concept at the same time pay more attention to the essence of listed companies. Pay more attention to the research and development strength of listed companies, the specific products of scientific and technological content, market share and development prospects. Mainstream institutions are not all the same as all the technology, the market performance of the technology sector from the "5 19" era of the total decline in the transition to sub-industry-by-class mining, differentiated treatment. For example, the software unit is divided into system software, embedded software, industry application software, network stocks can be divided into portals, online games, on-line transactions and other types of hardware is divided into personal computers, electronic components, separate industries and other specialized equipment and other fields. In a word, the knowledge and excavation of the technology market has shown a trend of diversification and specialization.　　It can be expected that in the future will be able to stand out in the market, must be those with independent intellectual property rights and unique technology, in a niche market dominance of a strong company, the company's fundamentals are the main determinants of stock prices. Science and technology <<< still have stories to look forward to ten years ago, "5 19" market started, coincided with a wave of adjustment after the low, which is also the market's explosive power to focus on the vent of an important reason. Things are easy to move, 10 after the reincarnation of today, the market is in the last six months to rebound the high, expect the market to appear in that time that a wave of Cuikulaxiu is no doubt very unrealistic. and the stock price structure of all the "technology stocks", has long been unable to find common, its various sub-industry fundamentals also determine the former tech stocks in the past may be difficult to reproduce today. However, in the global financial crisis is still spreading today, China's high-tech industry is also facing a new historical opportunity. The government will "nuclear high-based" as the "national medium and long term science and technology development Planning outline (2006-2020)" Plan of the first, it shows the importance of science and technology. In response to the crisis, the Government has introduced the electronic information industry adjustment and revitalization plan, from the policy to the scientific and technological undertakings to give strong support. 3G Licensing, communications equipment plate in the two-tier market performance, and the third generation of mobile communication technology applications to people's lives is only a beginning, and the next generation of Internet (IPV6) applications, triple network integration,　　Nuclear high-based Special implementation, etc. will give the relevant companies to provide a broader space for growth. Due to some rigid system restrictions, Sohu, Sina, NetEase and other Chinese network Pathfinder have to choose to list overseas, and with the launch of China's gem, there will be more network technology companies listed in the A-share market. In the cultivation of the capital market, China's new generation of science and technology elite, network giants will be born, market opportunities will continue to emerge.