积木动议_有关必回

Buying Microsoft $MSFT now means the valuation you are paying is almost identical to some of the most classic 'bottom fishing points' in history—if not cheaper!

It's outrageous, but the data doesn't lie.

First, look at the key indicators: currently, Microsoft's **forward P/E** is around 24x (some sources show a range of 23-25x), trailing P/E is about 25.3x, and the valuation levels during those historical lows are remarkably similar.

- The low point of the bear market in 2018 (around the Christmas crash): the stock price fell to the 90-100 dollar range, trailing PE often hovered around 22-25x (quarterly lows even below 22x), forward PE was even lower. At that time, the market was panicking over the tech bubble burst, and Microsoft took off from there, skyrocketing several times in the following years.

What will the world be like in 2036? From thirty years of changes to ten years and then to five years, it feels like it all happens in an instant.
In early 2026, OpenClaw's agent economic model severely impacted the valuation of SaaS software stocks, forcing them to face reevaluation. Just like the day DeepSeek was born, it had a significant impact on the U.S. stock market's seven sisters.
The cross-platform delivery execution results of Qianwen also made me realize the true rise of AI in China.
As one of the first users of GPT, I have always held a biased view that the AI moment in China would arrive at least ten years later than in the U.S.
But now it seems that the seven sisters' $700 billion burn + no buyback strategy last year was just a dream.

A 32-year-old ordinary worker, earning a monthly salary of 9200 yuan, drifting in Beijing, renting a place, cramming into the subway, working overtime until late at night, barely saving 150,000, feeling like life has reached its end.

Fate always buries bombs in the most inconspicuous places.

That day, as a reporter, she took a student engineer from Tsinghua University to interview NIO founder Li Bin. Originally, they were supposed to talk about electric cars and smart bicycles, but after hearing the engineer's dream of a 'personal smart bicycle,' Li Bin waved his hand and said, 'Making a personal bicycle? That's too niche. Why not create a shared bicycle that can be borrowed and returned anywhere, with a simple phone scan? It truly solves the last mile problem!'

Awesome! In just 3 days, MicroStrategy CEO Michael Saylor has directly upgraded to hype mode—just 3 days ago in an interview, he predicted that Bitcoin could reach $13 million per coin by 2045, and now he’s directly launching satellites: one BTC will reach $50 million!

Even more absurdly, he shamelessly claimed: if the U.S. government were to buy Bitcoin on a large scale, it could earn $80 trillion in profit, directly paying off the national debt...

Is he really bold enough to make such claims, or are we ordinary people just too afraid to think like this? 😂

Let’s clarify the timeline and background: Saylor has always been a super loyal fan of Bitcoin. MicroStrategy (now called Strategy) has been aggressively accumulating Bitcoin since 2020, and now holds over 700,000 BTC, worth tens of billions of dollars, making it the largest corporate Bitcoin holder in the world. Every time he is interviewed, it feels like he is promoting BTC, with price predictions getting more and more exaggerated.

A shocking revelation has finally exploded regarding a certain platform's illegal seizure of 517 BTC from users!

According to the official announcement released by the platform in 2023 regarding this matter, the general course of events is as follows:

In July 2018, major player Yang Xiuqun took a bullish position on Bitcoin with his personal account, opening approximately 50,000 BTC long contracts when the price was around $7,000.

The platform suddenly froze her account unilaterally on the grounds of 'suspected market manipulation', making it completely impossible for her to operate or close positions. On the day of the freeze, due to drastic fluctuations in the market, her position was completely liquidated. The platform characterized this liquidation as 'abnormal liquidation'—in simple terms, it might not have actually reached the liquidation price, but was forcibly cleared to zero as if it had been liquidated.

The capital expenditure forecast for technology stocks (especially in the AI-related field) this year is about 5 trillion RMB... When this number came out, it was indeed quite shocking.

Let's first simply change the perspective and talk about what this concept means:

The general public budget expenditure for the entire country of China in 2025 is 28.74 trillion RMB (latest data from the Ministry of Finance, a year-on-year increase of 1%).

In other words, the scale of burning money by AI/tech giants is already close to about 1/5 to 1/6 of the national fiscal expenditure (assuming that '5 trillion' roughly corresponds to the total capex estimate for global or Chinese technology stocks; the actual Chinese portion may be around 600 to 700 billion RMB, but if we include the global supply chain, equipment procurement, etc., it can indeed stack up).