Paraphrasing (2nd paragraph)
Text
No doubt about it, America's long romance with mutual funds is in on the rocks. The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets — nearly as much as Europe's annual gross national product — by the end of 2000. Since then, the industry has been in free fall. Assets have tumbled 12%, to $6.6 trillion. The carnage in stock funds — the biggest money-spinners for management companies — is far bloodier. Assets have slumped 20% this year, to $ 3.1 trillion, while net new sales are off by 95%. The 77-year-old industry has endured three of its biggest-ever one-month outflows from equity funds this year, a bigger cash drain than even in the 1987 stock market crash. More than half of all U.S. fund companies have seen more money head out the door than come in, says Boston's Financial Research Corp. "Everybody's boat is sitting on the bottom right now," says Daniel T. Geraci, CEO of Boston's Pioneer Investment Management USA Inc. "The tide went out for all of us."
The main idea of the paragraph
The mutual-fund industry rode a decade-long bull market. Then it began to fall, especially in stock funds. So did the number of investors in funds, leading to a bigger cash drain than even the 1987 stock market crash.
共同基金行业驾驭牛市有十年之久，此后开始走低，特别是在股票基金方面出现大跌，投资于基金的投资者人数也开始减少，导致资金的流失甚至超过1987年股市暴跌时资金流失的量。
句子分析
The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets –nearly as much as Europe’s annual gross national product – by the end of 2000.
在此句中
1）The industry rode a decade-long bull market and a booming retirement business so well 是主句
2）that it managed a record $7.5 trillion of assets by the end of 2000是个状语从句，它和so well 一起，表示结果
3）nearly as much as Europe’s annual gross national product 相当于非限制性定语从句which was nearly as much as Europe’s annual gross national product，修饰$7.5 trillion of assets.
