[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-JP2025060616412206364":3,"related-JP2025060616412206364":29},{"pageSize":4,"id":5,"productLine":6,"status":7,"articleCode":8,"articleType":9,"showStyle":7,"mediaType":10,"articleTitle":11,"coverImage":12,"listImage":13,"introduction":14,"description":15,"nonVipDescription":16,"postTime":17,"viewTime":17,"sortNumber":18,"isFree":19,"isShowList":7,"isRecommend":19,"linkType":7,"isOriginal":6,"hasMiniUrl":19,"hasAdvertising":19,"createBy":20,"updateBy":20,"createTime":21,"visitCount":19,"isLiked":19,"realSearch":22,"isRead":19,"productId":23,"isCollected":19,"collectCount":19,"vipExclusive":19,"allowComment":7,"style":24,"likeCount":19,"seoKeywords":16,"articleModuleVoList":25,"extendContentList":26,"noteCount":19,"categoryList":27,"dailyKeywordList":28},10,6985,"1",1,"JP2025060616412206364","1041018",3,"跌多了，后面怎么办？| 基金四季报解读","https:\u002F\u002Fimage.jane7.com\u002F3375725c-d389-414b-8026-187a459f2892.png","https:\u002F\u002Fjane7-prod.oss-cn-hangzhou.aliyuncs.com\u002Fmanager\u002Farticle_default_img.png","听听基金经理们怎么说","\u003Cdiv>\n \u003Csection style=\"font-size: 16px;\">\n  \u003Cp style=\"margin: 0pt 16px;outline: none;max-width: 100%;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);font-family: -apple-system, "PingFang SC", "Hiragino Sans GB", "Source Han Sans SC", "Noto Sans CJK SC", "Microsoft YaHei", "WenQuanYi Micro Hei", SimHei, sans-serif;font-size: 11pt;text-align: center;text-size-adjust: auto;color: rgb(73, 73, 73);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: -apple-system-font, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;font-size: 12px;color: rgb(98, 90, 90);box-sizing: border-box !important;overflow-wrap: break-word !important;\">点击\u003C\u002Fspan>\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: -apple-system-font, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;color: rgb(0, 122, 170);font-size: 12px;box-sizing: border-box !important;overflow-wrap: break-word !important;\"> “简七读财”\u003C\u002Fspan>\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: -apple-system-font, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;font-size: 12px;color: rgb(98, 90, 90);box-sizing: border-box !important;overflow-wrap: break-word !important;\">，发送消息“小工具”\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"margin: 0pt 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;background-color: rgb(255, 255, 255);font-size: 11pt;color: rgb(73, 73, 73);text-align: center;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-size: 12px;letter-spacing: 0.544px;color: rgb(98, 90, 90);caret-color: rgb(98, 90, 90);box-sizing: border-box !important;overflow-wrap: break-word !important;\">免费领取“\u003C\u002Fspan>\u003Cspan style=\"outline: 0px;max-width: 100%;font-size: 12px;letter-spacing: 0.544px;color: rgb(51, 51, 51);background-color: rgb(255, 254, 213);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;letter-spacing: 0.544px;caret-color: rgb(98, 90, 90);color: rgb(255, 76, 0);box-sizing: border-box !important;overflow-wrap: break-word !important;\">30个赚钱工具资源包\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"outline: 0px;max-width: 100%;font-size: 12px;letter-spacing: 0.544px;color: rgb(98, 90, 90);caret-color: rgb(98, 90, 90);box-sizing: border-box !important;overflow-wrap: break-word !important;\">”\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.75em;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Fb41037fd-ec7e-43ad-b089-591872cb8ad0.jpg\">\u003Cbr>\u003C\u002Fp>\n  \u003Csection>\n   \u003Cmpvoice class=\"js_editor_audio audio_iframe js_uneditable custom_select_card\" data-pluginname=\"insertaudio\" data-topic_id=\"\" data-topic_name=\"\" data-trans_state=\"1\" data-verify_state=\"3\" high_size=\"1584.61\" isaac2=\"1\" low_size=\"1049.25\" name=\"基金四季报\" play_length=\"540000\" source_size=\"1024\" src=\"\u002Fcgi-bin\u002Freadtemplate?t=tmpl\u002Faudio_tmpl&name=%E5%9F%BA%E9%87%91%E5%9B%9B%E5%AD%A3%E6%8A%A5&play_length=09:00\" voice_encode_fileid=\"MjM5MzA3MjI2NV8yNjUwNjYwNjk3\">\u003C\u002Fmpvoice>\n  \u003C\u002Fsection>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">过去的一年，对买基金的朋友来说可能不是那么友好。\u003C\u002Fspan>\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">不少朋友坐了一回过山车，对基金投资产生了各种各样的疑问——\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cblockquote style=\"margin-right: 16px;margin-left: 16px;outline: 0px;color: rgba(0, 0, 0, 0.5);max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">为什么我的基金亏钱了？\u003C\u002Fspan>\u003Cbr>\u003C\u002Fp>\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;color: rgba(0, 0, 0, 0.5);font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);font-size: 15px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">新能源、中概互联还有投资价值吗？\u003C\u002Fspan>\u003C\u002Fp>\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;color: rgba(0, 0, 0, 0.5);font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);font-size: 15px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">基金大佬们对未来市场怎么看？\u003C\u002Fspan>\u003C\u002Fp>\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;color: rgba(0, 0, 0, 0.5);font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;white-space: normal;background-color: rgb(255, 255, 255);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);font-size: 15px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">......\u003C\u002Fspan>\u003C\u002Fp>\n  \u003C\u002Fblockquote>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">这些问题，或许都能在基金的成绩单「定期报告」中，一一找到答案。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">对于公募基金来说，一年总共要出6次成绩单，包括四次季报、一次半年报和一次年报。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">一般年报会更详细，而季报时效性强一些。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">最近，随着各家「基金四季报」陆续出炉，大家之前的猜测也都会逐一明了。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">这次，我们也仔细阅读了基金经理们的观点，获得了一些新的认知，想和你分享~\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(255, 104, 39);font-family: Optima-Regular, PingFangTC-light;font-size: 15px;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);background-color: rgb(255, 254, 213);\">*文中提及基金和基金经理，并无利益相关，仅作为示例，不作推荐。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Fde91665d-67b2-4b16-ab5e-76fe142e617f.jpg\">\u003C\u002Fspan>\u003Cbr style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 18px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">01\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">虽然基金经理们执掌的基金不同、投向不同，但是那些长期好收益的大佬们的共识，或许能给你一些定心丸。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">有的或许你已经听过太多遍，比如\u003Cstrong>长期主义、价值投资\u003C\u002Fstrong>......\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">但是知易行难也会发生在专业人士身上，即便是他们，也会有守不住纪律的时候。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;caret-color: rgb(51, 51, 51);color: rgb(0, 0, 0);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;background-color: rgb(255, 218, 169);font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">不过，一\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;caret-color: rgb(51, 51, 51);color: rgb(0, 0, 0);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;background-color: rgb(255, 218, 169);font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">个好的基金管理人，往往会从过去的错误中总结经验。\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">对于我们普通人来说，也是十分值得借鉴和反思的。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">第一个共识：预测市场越来越难了\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">富国基金的朱少醒，是一名被誉为「投资常青树」的超级老将，任职16年几度穿越牛熊，回报超过19倍。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">即便他如此经验老道，也依然十分敬畏市场：\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">「我们\u003Cstrong>并不具备精确预测市场短期趋势的可靠能力\u003C\u002Fstrong>，把精力集中在耐心收集具有远大前景的优秀公司，等待公司自身创造价值的实现和市场情绪的周期性回归。」\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">易方达的萧楠也表示，去年一直在思考自己的基金是为什么亏了，后来发现，自己也是陷入了常见的投资误区当中，感慨道：「就短期数据进行博弈，并不是最优选择。」\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">也有大佬十分幽默，比如银华基金的李晓星，任职超过3年的基金都翻了倍。在洋洋洒洒四千多字的分析之后，他这样写道：\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">「我们对于2022年的市场观点也可以总结成两句话，‘碳中和、 稳消费，聚焦核心资产。’希望我们对于2022年市场判断的正确率可以比2021年更高一些，\u003Cstrong>能对两句话\u003C\u002Fstrong>。」\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">第二个共识：动荡市场中，倾向于分散风险\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">看了几十篇报告后，我们发现，去年四季度除了行业主题基金外，其他基金经理们在不约而同思考这么一件事：\u003Cstrong>调结构\u003C\u002Fstrong>。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">有的明星基金经理，直接把前十大重仓股的比重降低到远低于行业的平均水平，尽可能地分散了个股调整可能带来的影响。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">比如，以「喝酒」闻名的张坤在四季报中增加了科技等行业的比重，降低了金融、医药等行业的配置，尝试在不同行业中，挑选那些能够为客户创造价值的公司。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">交银的百亿基金经理王崇也在季报中提到，「将继续坚守能力圈......坚持行业分散，个股精选、逆向投资、努力控制回撤，来创造稳健的回报」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F8dac6854-f8ec-4e6f-9617-fdcc8da00d8d.jpg\">\u003C\u002Fspan>\u003Cbr style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 18px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">02\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">除了这些共识，接下来也想和你聊聊大佬们的投资分歧。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">在手握百亿到千亿资金的明星基金经理中，我们挖掘出了两个关键词：\u003Cstrong>「港股」和「新能源」\u003C\u002Fstrong>。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">说到去年话题度最高的基金品种，这两类一定榜上有名。去年它们的收益走出了截然不同的走势：一个跌不停，一个不停涨。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">他们又是怎么看待的呢？\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 18px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">▎\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 18px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">关于港股\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">随着互联网反垄断、教培行业整顿、未成年人游戏禁令等政策的接连出台，中概互联首当其冲，去年一年普遍跌了20%-30%。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">我身边买了港股的小伙伴们，要么着急卖掉离手，要么已经「躺平」了。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\"> \u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">基金经理们也对港股发表了看法——\u003Cstrong>大部分态度还是蛮积极的。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">在四季报披露的调仓中，兴全基金的谢志宇、易方达的张坤、萧楠等基金经理，也将互联网龙头公司放在了「十大重仓股」的「购物车」里，比如腾讯、阿里巴巴、快手等。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\"> \u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">我们做了个粗略统计，原因主要有二。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">原因 1 ：低估\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">中庚基金的丘栋荣为了投资港股，特地变更了基金的投资范围，在季报中表示已经「开始投资港股通标的的股票，并逐步提升港股配置比例」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">他看好的原因主要是\u003Cstrong>估值\u003C\u002Fstrong>，谈到「港股的互联网股承受各种压力聚集，估值降至低估水平。」\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">李晓星也有类似的看法，认为面对当前的港股，起码不需要太过悲观了。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">「只看现在港股的估值水平，\u003Cstrong>相对于港股自身的历史水平也降到了低点\u003C\u002Fstrong>，当下也不应该是再拿着放大镜找缺点的时候，我们对于港股明年提供一个合理的收益预期是有信心的。」\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">原因 2 ：质优\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">丘栋荣还认为，港股中的科技股是「深深嵌入中国经济中的」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">尤其是龙头公司的收入依然维持较高的增速，影响利润的关键因素和企业经营没有太大关系，他们的「核心业务壁垒仍然较为坚实」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">不过，也有基金经理降低了港股的配置。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">中欧基金的周应波在经过4年的投资实践后，承认「投资港股的效果并不理想」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">他把港股暂且列为能力边界外的品种，在没能提升港股研究能力前，会「将港股配置的重要性在基金组合中放低」 。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 18px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;box-sizing: border-box !important;overflow-wrap: break-word !important;\">▎\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 18px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;box-sizing: border-box !important;overflow-wrap: break-word !important;\">关\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);font-size: 18px;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 18px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 18px;caret-color: rgb(51, 51, 51);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;box-sizing: border-box !important;overflow-wrap: break-word !important;\">于新能源\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">从四季报看，\u003Cstrong>基金经理们普遍看好新能源的未来，但对「短期表现」看法不太一致。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">差异 1：新能源vs传统能源\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">比如信达澳银基金的冯明远在报告中说：\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cblockquote style=\"margin-right: 16px;margin-left: 16px;outline: 0px;color: rgba(0, 0, 0, 0.5);max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">全球的能源产业正在发生深刻变化，伴随新能源使用比例的增加，将在未来50年逐步替代传统化石能源的主流地位。在这个长趋势中会涌现出大量优质企业。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003C\u002Fblockquote>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">中欧基金的周蔚文也看好新能源的中长期趋势，表示「2021年是‘能源革命时代’的启动元年」，未来会寻求\u003Cstrong>新能源、光伏、军工\u003C\u002Fstrong>等景气持续向好的行业。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">而易方达的萧楠却认为「传统能源会越来越值钱」。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">他的理由是，随着新能源的推广，传统能源的供给反而越来越紧张。于是他在四季度增加了对\u003Cstrong>电力和煤炭板块\u003C\u002Fstrong>的配置。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;color: rgb(214, 168, 65);outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">差异 2：估值偏贵\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">如果仔细甄别，会发现不少专攻克新能源赛道的大佬们，不太会打自己的脸，依然旗帜鲜明地坚定看好新能源。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">另一边，却有基金经理表示，\u003Cstrong>目前新能源的估值确实挺高的。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">比如中欧基金的周应波则直接提醒大家，要「细致甄别新能源泡沫」：\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cblockquote style=\"margin-right: 16px;margin-left: 16px;outline: 0px;color: rgba(0, 0, 0, 0.5);max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">这并不代表我们看空新能源行业，而是希望在市场较为拥挤的交易状态下提高对风险的警惕。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003C\u002Fblockquote>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">周蔚文虽然看好中长期趋势，也提示说行业中的公司不便宜了：\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cblockquote style=\"margin-right: 16px;margin-left: 16px;outline: 0px;color: rgba(0, 0, 0, 0.5);max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">这些行业大部分估值偏贵，细分板块的基本面将出现分化，我们将挑选基本面发生积极变化的细分板块进行配置。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003C\u002Fblockquote>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Ff4a00117-7b97-445b-9bae-f2228f5e8152.jpg\">\u003C\u002Fspan>\u003Cbr style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003C\u002Fp>\n  \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: center;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;color: rgb(214, 168, 65);font-size: 18px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">03\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">说完了你关心的板块，最后也想和你分享两点体会。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;caret-color: rgb(51, 51, 51);color: rgb(0, 0, 0);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;background-color: rgb(255, 218, 169);font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">1）动荡的市场，稳健或许是个不错的选择。\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">去年，\u003Ca data-linktype=\"2\" href=\"https:\u002F\u002Fmp.weixin.qq.com\u002Fs?__biz=MjM5MzA3MjI2NQ==&mid=2650648333&idx=2&sn=e0f600e00b380f39f20fa32cc9945901&scene=21#wechat_redirect\" imgdata=\"null\" imgurl=\"\" linktype=\"text\" tab=\"innerlink\" target=\"_blank\" textvalue=\"固收+基金\" style=\"color:#409eff\">固收+基金\u003C\u002Fa>迎来了爆发。数据显示，在一年中，固收+基金的规模达到了1.94万亿元，比2020年增长了近40%。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">固收+基金大部分是投向债券；「+」的部分，是一些风险更高、但收益也可能更高的投资，比如，股票投资、可转债等等，目标是增加收益。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">我们也翻了翻规模较大的固收+基金季报，管理人普遍提到了对「风险」的重视。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">我们也可以参考基金经理的观点，在市场大环境温温吞吞的情况下，资产配置可以更侧重稳健，组合才能在投资的长跑中走得更远。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;caret-color: rgb(51, 51, 51);color: rgb(0, 0, 0);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;background-color: rgb(255, 218, 169);font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">2）正确认识自己的能力，不懂不投。\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">拉长时间来看依然能够获得不错收益的大佬们，都会不断复盘自己的能力圈。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">看了许许多多份季报，有一段话让我印象挺深的\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;font-size: 16px;letter-spacing: 1px;caret-color: rgb(51, 51, 51);background-color: rgb(255, 255, 255);\">——\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cblockquote style=\"margin-right: 16px;margin-left: 16px;outline: 0px;color: rgba(0, 0, 0, 0.5);max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;line-height: 1.75em;background-color: rgb(255, 255, 255);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n   \u003Cp style=\"margin-right: 16px;margin-left: 16px;outline: 0px;max-width: 100%;letter-spacing: 0.544px;line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">复盘过去六年多的基金管理，记忆最深的还是在投资中犯过的错误和教训。广阔的资本市场里有长坡厚雪也有荒漠沙尘，我们常将自己的投资框架假想为\"能粘厚雪的圆形滚石\"，但无数次发现只是\"滤过砂砾的漏斗\"。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003C\u002Fblockquote>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">就像投资大师查理芒格和巴菲特不断强调的那样，\u003Cstrong>「确定自己能力的边界是最重要的事」。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">对于我们普通人也一样。我们可以保持好奇，不断探索和学习，但是当下自己并不理解的，不去碰。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">在持有基金的时候，也需要通过定期报告来对基金进行更深的了解，确认三观和投资策略是和自己相符、是自己能承受的，才能更加长久的陪伴下去，并获得丰盛的回报。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">好啦，关于基金四季报就和你聊到这里。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">喜欢这样的文章的话，欢迎点个\u003Cstrong style=\"outline: 0px;max-width: 100%;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;white-space: normal;color: rgb(214, 168, 65);box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"outline: 0px;max-width: 100%;font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;text-align: left;caret-color: rgb(51, 51, 51);box-sizing: border-box !important;overflow-wrap: break-word !important;\">「在看」\u003C\u002Fspan>\u003C\u002Fstrong>告诉我。\u003C\u002Fspan>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n  \u003Cp style=\"outline: 0px;max-width: 100%;min-height: 1em;font-family: -apple-system, BlinkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: justify;line-height: 1.75em;margin-left: 16px;margin-right: 16px;font-size: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-family: Optima-Regular, PingFangTC-light;letter-spacing: 1px;caret-color: rgb(51, 51, 51);\">晚安😊\u003C\u002Fspan>\u003C\u002Fp>\n \u003C\u002Fsection>\n\u003C\u002Fdiv>","","2022-01-24 22:21:00",100,0,"renqiang@jane7.com","2025-06-06 16:41:22",false,17047,"1038002",[],[],[],[],[30,41,50,61],{"pageSize":4,"articleWikiId":31,"wikiName":32,"articleCode":33,"locationType":34,"sortNumber":35,"articleTitle":36,"introduction":36,"coverImage":37,"likeCount":7,"realSearch":22,"createTime":38,"seoUrl":39,"seoKeywords":40},93,"基金定投","JP2020051416460814552",2,20200514,"基金分红是什么意思？是基金公司发红包吗？","https:\u002F\u002Fimage.jane7.com\u002Fa51c0876-012c-4c82-966e-e6aa72ceaeef.png","2020-05-14 16:46:08","https:\u002F\u002Fwww.jane7.com\u002Farticle-financing-JP2020051416460814552-93.html","基金,基金分红",{"pageSize":4,"articleWikiId":31,"wikiName":32,"articleCode":42,"locationType":34,"sortNumber":43,"articleTitle":44,"introduction":45,"coverImage":46,"likeCount":7,"realSearch":22,"createTime":47,"seoUrl":48,"seoKeywords":49},"JP2020091415282089211",20200914,"支付宝上的基金能买吗？怎么判断好不好？","支付宝的基金怎么样？如何才能看懂支付宝基金呢？今天我们就来仔细地讲一讲。","https:\u002F\u002Fimage.jane7.com\u002F5abcb5df-db1a-4b4b-b9a8-194d736957ea.png","2020-09-14 15:28:20","https:\u002F\u002Fwww.jane7.com\u002Farticle-financing-JP2020091415282089211-93.html","基金",{"pageSize":4,"articleWikiId":51,"wikiName":52,"articleCode":53,"locationType":34,"sortNumber":54,"articleTitle":55,"introduction":56,"coverImage":57,"likeCount":19,"realSearch":22,"createTime":58,"seoUrl":59,"seoKeywords":60},97,"理财产品","JP2020060814194083333",20200608,"腾讯阿里的股价长期走势都很好，普通人如何投资？","中概股纷纷回家，普通人如何参与？","https:\u002F\u002Fimage.jane7.com\u002F44bf33fd-d22f-4071-a933-480454cfdf92.png","2020-06-08 14:19:40","https:\u002F\u002Fwww.jane7.com\u002Farticle-financing-JP2020060814194083333-97.html","中概股,基金,京东,网易",{"pageSize":4,"articleWikiId":31,"wikiName":32,"articleCode":62,"locationType":34,"sortNumber":63,"articleTitle":64,"introduction":65,"coverImage":66,"likeCount":34,"realSearch":22,"createTime":67,"seoUrl":68,"seoKeywords":69},"JP2020052521375167474",20200525,"基金种类这么多，到底该怎么挑呢？","今天就跟大家，分享一款好用的挑选工具","https:\u002F\u002Fimage.jane7.com\u002Fbba152ed-23ec-4e7b-ac36-d028f2cc7a3e.png","2020-05-25 21:37:51","https:\u002F\u002Fwww.jane7.com\u002Farticle-financing-JP2020052521375167474-93.html","基金,低风险投资"]