---
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/39650828.md"
description: "$Microsoft(MSFT.US) Fortunately, during the 395-400 phase, I swapped almost all of my Microsoft holdings for index funds, and the drawdown is much smaller. However, the overall market drawdown is still at the &#34;small to medium drawdown level.&#34; It's just that this round of large-cap stocks has fallen a lot, especially Microsoft, so the feeling of holding the &#34;Magnificent Seven&#34; is quite pronounced.Now it's only recovered about 10 points, so we still need to be cautious. A 15-20 point drop counts as a major drawdown. A drop of over 20% is when a stock market crash truly begins. The US stock market has experienced multiple 30-50% declines before.Warren Buffett recently told Becky Quick on CNBC that there hasn't been a substantial decline at all, so we should continue managing our positions well. I wonder if I can pick up QQQ around 500."
datetime: "2026-03-31T16:38:54.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39650828.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39650828.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39650828.md)
author: "[均衡配置少操作](https://longbridge.com/zh-CN/profiles/14398409.md)"
---

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# $Microsoft(MSFT.US) Fortunately, during the 395-40…


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