zt (股海一粟)

Traders now bet a 40% chance that the Fed is going to cut the key interest rate by 50 bps at its next meeting, up from only around 10% a week ago. It is interesting that back in Apr 1999, when the Internet mania was at its heyday, the total market cap for the energy industry was a little more than $400 billion(at the same time oil was traded at around $12 per barrel) and the market cap of two Internet companies, AOL and Yahoo, was worth more than $200 billion. Nine years later, the market cap for Exxon Mobil alone was close to $500 billion while AOL’s name was almost forgotten(well, to be fair it was probably still worth $20 billion based on the equity investment by Google). Indeed, things changed a lot during the last decade. What about the next?