For example, when a stock rises, a retail investor obtains 1 share from the issuer or other retail investors or institutions at the price of 10 yuan per share, while other retail investors obtain the stock at the price of 10 yuan earlier. Because this transaction, the stock is considered as the stock with a value of 10 yuan, so the stocks in the hands of other retail investors who did not participate in the transaction also increased the virtual 5 yuan money. The actual funds in this stock did not increase because the share price rose to 10 yuan. The funds paid by everyone are the cost of their own positions, and the part above the cost is the virtual bubble. If everyone wants to cash in this fictitious 10 yuan, the stock price will fall. Once this stock falls to 1 share, 1 yuan, the retail investors who have not run away will only lose their own funds, not all the virtual wealth. The actual funds did not evaporate and shrink because of the stock market crash, but were earned by retail investors such as stock issuers and institutions who sold their stocks in time. In addition to physical funds, the lost wealth is a virtual bubble. Matter is immortal and capital is conserved. Therefore, it is not correct to say that the stock market funds evaporate, and real money will not evaporate. Even the stamp duty on resale fees has been earned by the relevant administrative departments and has not disappeared. More precisely, it should be said that the stock market bubble has evaporated.