Financial tycoons are truly unique in their counterintuitive actions! Jensen Huang's resignation has triggered panic among retail investors and a flight to safety from top institutions, but Duan Yongping is selling put options. Duan Yongping's logic is remarkably clear. He responded to several questions on Xueqiu (a Chinese investment platform): First, there will be no short-term impact on Nvidia's business. "Jensen Huang is an extremely hardworking person with a strong vision for the future of AI; finding someone like him is difficult." However, he believes that in a few years, it will depend on whether a good CEO can be found. Second, he explicitly stated that he "will not sell Nvidia shares at present, but in fact, he sold quite a few put options today." He is holding shares while simultaneously earning premiums by selling put options, betting that the share price won't fall too much. Third, he believes Nvidia is a company with "foolproof management," but added, "The business model requires a very good management team; otherwise, it might not be as powerful in 3-5 years. AI is just beginning, and it will see great growth over the next ten years." Fourth, regarding Jensen Huang's return, he believes that unless the core reason for his resignation is eliminated, it's highly unlikely he will return. However, there's one possibility: the company might appoint him as a "shadow CEO," retaining influence but no longer having signing off on decisions. This will only become clear after the hearing. Fifth, Cook succeeding Nvidia? Duan Yongping simply stated: "0% chance." But institutional actions are far more honest than Duan Yongping's words. Renaissance Technologies, at the end of Q2, was still Nvidia's largest holding, with a market value of approximately $1.42 billion. By the end of Q3, its holdings had decreased by 99.7%, almost completely liquidating its position. Moreover, this action occurred before the public exposure of the Huang Renxun controversy. It simultaneously increased Micron to its largest holding and AMD to its second-largest, completely shifting its focus. Dan Bin's Oriental Harbor chose to remain inactive, holding over 1.23 million shares at the end of Q3. He said Nvidia's moat is very deep, and the CUDA ecosystem cannot be overturned overnight, but acknowledged that the management transition would create a window of opportunity for competitors. He also used this incident to warn of the risks of leverage: "Even a black swan event with an extremely low probability can lead to utter ruin. A week ago, probably very few people anticipated that something like this would happen." This is the most realistic picture of Nvidia's current financial situation: Retail investors are buying the dip, while Duan Yongping is selling puts and collecting premiums; Renaissance Technologies had already sold 99.7% of its shares before the turmoil, while Dan Bin is stubbornly holding on. The same Nvidia, four types of people, four different fates.