Chapter 3: The First Shock
April 4, 2000
San Francisco
The technology boom had reached its peak.
Every news channel was talking about the internet revolution. Magazines praised young entrepreneurs who had become millionaires overnight, and analysts predicted that technology stocks would continue rising forever.
But on the computer screen in Anshul's bedroom, the numbers were beginning to tell a different story.
NASDAQ Composite
5,048.62
Yesterday it had been above 5,100.
Today it had fallen again.
And this was only the beginning.
Anshul sat quietly in front of the monitor, his eyes scanning the charts. The modem connection was slow, and every page took several seconds to load, but he didn't mind waiting.
Patience had become second nature to him.
Beside the keyboard lay his notebook.
Inside were several company names marked with red ink.
Pets.com
Webvan
eToys
Boo.com
Companies that had once been celebrated as the future of the internet.
Companies that would soon collapse.
Three weeks ago Anshul had opened short positions against several of them.
At first the market had continued climbing, and his positions briefly showed losses.
But now…
The crash had begun.
---
At school the atmosphere was completely different.
Most students didn't care about stock markets or technology bubbles.
They cared about homework, sports, and weekend plans.
During lunch break Mia sat across from Anshul at the cafeteria table.
She was struggling to open a bottle of soda.
"This thing hates me," she complained.
He took the bottle from her hand and twisted the cap open easily.
"You're weak."
"I am not weak."
"You lost a fight with a bottle."
"That bottle cheated."
He laughed slightly.
Mia took a sip and looked at him carefully.
"You've been quiet all day."
"I'm thinking."
"About what?"
"Money."
She raised an eyebrow.
"That sounds suspicious."
"Markets."
"Oh."
She leaned back in her chair.
"You're the only person I know who thinks about stocks during lunch."
"Somebody has to."
"Why?"
"Because opportunities appear when people stop paying attention."
She stared at him for a moment.
"You talk like a forty-year-old businessman."
"I'll take that as a compliment."
---
After school the two of them walked home again.
The afternoon sun reflected off the windows of the nearby houses while a cool breeze moved through the neighborhood.
Mia kicked a small stone along the sidewalk.
"You're coming to the debate club meeting tomorrow, right?"
"Maybe."
"You always say maybe."
"That keeps my schedule flexible."
She shook her head.
"One day I'm going to replace you with someone more cooperative."
"That sounds threatening."
"Good."
They reached the fence separating their houses.
Before going inside, Mia turned toward him again.
"Don't stay up all night watching markets."
"No promises."
She sighed.
"You're impossible."
---
Later that night the market data refreshed again on the computer screen.
NASDAQ Composite
4,893.57
Another drop.
Anshul opened his trading account.
Portfolio Status — April 4, 2000
Starting Capital: $42,800
Short Positions:
Pets.com
Position Size: $60,000 (with margin)
Profit: $8,400
Webvan
Position Size: $50,000
Profit: $6,100
eToys
Position Size: $40,000
Profit: $5,200
Total Portfolio Value
$62,500
In just a few weeks his capital had already grown by nearly twenty thousand dollars.
And the crash had barely begun.
Most investors were still telling themselves that the market would recover quickly.
But Anshul knew what the coming months would bring.
Panic.
Bankruptcies.
Billions of dollars erased from the market.
And when the collapse finally reached its deepest point…
That would be the moment to start buying.
He leaned back in his chair and looked at the city lights outside his window.
The game had begun.
And for the first time since his second life started…
His plan was finally moving forward.