[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-JP2025060616473873388":3,"related-JP2025060616473873388":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},10,7027,"1",1,"JP2025060616473873388","1041018",3,"困境终将过去｜2022投资逻辑梳理","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","制定好投资纪律，屏蔽市场中的噪音","\u003Cdiv>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n  \u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">大家好，我是简七编辑部的卫星。\u003C\u002Fspan>\n  \u003Cbr>\n \u003C\u002Fsection>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\n  \u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\n \u003C\u002Fsection>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">不少持有基金的小伙伴吐槽：本以为去年已经很难了，没想到今年开端直接破防。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">俄乌战争、美国加息、疫情反复、经济下行压力加大...\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">最近，给咱们管钱的基金经理们，纷纷递交了2021成绩单（基金年报）。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">这样的时刻，大佬们怎么看？我们是否能从他们的见解中，得到一些投资灵感呢？\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">今天就来划个重点。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(255, 76, 0);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 14px;letter-spacing: 0.544px;background-color: rgb(255, 254, 213);\">*风险提示：文中提及的个股、基金、基金经理仅为示例，不涉及任何投资建议和利益相关。投资有风险，决策需谨慎。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Fa0d57611-54b3-44b7-8e4f-fb1bb8e304fa.jpg\">\n \u003C\u002Fsection>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \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;\">01\u003C\u002Fstrong>\u003C\u002Fspan>\n \u003C\u002Fsection>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">进入3月，奥密克戎来势汹汹，深圳、上海、吉林等城市先后采取了封城或半封城的措施控制疫情。\u003C\u002Fspan>\u003Cbr>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">「足不出户」的要求下，线下商店歇业，线上购物也因为无法配送而受到影响。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">在商业社会里，一个人的消费是另一个的收入，资金的传导链条一旦被打破，生活中的现金流就会突然吃紧，要面临还不上房贷、交不起房租的问题。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">所以，许多人对未来经济的情况充满了担忧。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">最新公布的经济先行指标PMI显示，我们的经济在收缩，部分指标甚至创下2020年3月以来的新低。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Fd8568474-429f-4656-80e3-ffc8da22c6a7.jpg\">\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">不过，基金经理们的态度倒是相对乐观，总结一下就是4个字：\u003Cstrong>会过去的。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">手握900多亿资金的刘彦春（景顺长城）在展望中写道：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;\">\u003Cbr>\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">「2022年大概率是新冠疫情结束的开始... 投资最困难的阶段已经过去。保持耐心，价值总会回归。」\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">你有没有想过，当疫情不再影响我们的生活，大家可以正常地外出旅行、享受美食、看明星演唱会...时，会直接影响哪些行业的投资机会？\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">8次收获「基金界奥斯卡」大奖的周蔚文（中欧基金）把它们称作「困境反转行业」：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">这些行业在过去两年受疫情的影响较大，短期来看也仍然有不确定性，但\u003Cstrong>「以两年左右的维度看，大概率经营会恢复正常，甚至比历史上景气年份更好，代表行业有养殖、餐饮旅游、传媒、地产等。」\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F1c0373e1-2689-4484-920d-0e5113ebc7a2.jpg\">\n \u003C\u002Fsection>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \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;\">02\u003C\u002Fstrong>\u003C\u002Fspan>\n \u003C\u002Fsection>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">中国有句老话，风水轮流转。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">困境行业会迎来反转，过去两年「当红炸子鸡」的行业们，又会有哪些变化呢？\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">比如这两年颇受关注的新能源，就是典型的\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">\u003Cstrong>「高景气度行业」\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">如果多看几份报告，你会发现，「高景气度行业」这个词出现频次还挺高的。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">景气度该怎么理解呢？\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">简单来说，就是\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">\u003Cstrong>一个行业里的公司，都是「业绩好、收入高、增长快」的「三好」代表。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">说回新能源。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">为了完成\u003C\u002Fspan>\u003Ca data-linktype=\"2\" href=\"https:\u002F\u002Fmp.weixin.qq.com\u002Fs?__biz=MjM5MzA3MjI2NQ==&amp;mid=2650657657&amp;idx=1&amp;sn=2330f2cf61fe8fffafdf11cb5b4c2b9f&amp;scene=21#wechat_redirect\" rel=\"noopener noreferrer\" style=\"font-size: 16px;letter-spacing: 0.544px;;color:#409eff\" target=\"_blank\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">「碳达峰」和「碳中和」\u003C\u002Fspan>\u003C\u002Fa>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">的目标，减少「高碳企业」和「高碳行业」的碳排放，我们得替换大量的装备、设备，这也将影响一整个链条。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F6347167b-576a-4d80-a7c2-a0b308505cea.jpg\">\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">再以新能源汽车来举个例。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">因为汽车尾气是碳排放的主要来源之一，所以各国政府都在加大对新能源汽车的扶持，淘汰传统燃油车。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">通过对新能源车实施补贴，刺激新能源车厂投资扩充产能，进而提升新能源车的销量，连小米、百度这些互联网公司也想跨界造车。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">有政策的支持、资金的涌入，新能源行业在过去两年一直是市场关注的焦点。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">你肯定想问了，那\u003Cstrong>现在还适合投资新能源吗？\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">基金经理们又给出了\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">\u003Cstrong>第二个关键词：分化。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">\u003Cstrong>\u003Cbr>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">大意就是，\u003Cstrong>行业整体太贵了，需要深入挖掘、精挑细选里面真正值得投资的公司。\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">像刚刚接手「网红基金」农银新能源的邢军亮，在年报中透露出对「价格」的担忧：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">「对于新能源车，仍然属于确定性和增长速度非常高的板块，...对于2021年转型新能源的企业也面临业绩兑现的问题，因此2022年从板块的角度会出现分化。」\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">另一个颇受关注的\u003Cstrong>光伏行业，结论也类似\u003C\u002Fstrong>：\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>估值很高，性价比相对较差，要以更长的时间维度来选择具有核心竞争力的企业。\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">看起来，\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">估值一直都是基金经理们的重要标准之一。\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">老将朱少醒，除了再次强调“不具备预测能力”、会\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>耐心收集优秀公司股票\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>之外，首次将\u003Cstrong>\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>估值考量变得更加重要\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">\u003C\u002Fspan>\u003C\u002Fstrong>加入年报中。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">再比如丘栋荣（中庚基金）在年报里重申了\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>低估值投资\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>的理念，看好金融、地产、能源等传统行业\u003C\u002Fspan>\u003Cspan style=\"letter-spacing: 0.544px;font-size: 14px;color: rgb(136, 136, 136);\">（*这里的能源指的是石油、煤炭类传统能源，相比新能源关注度低）。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>如果（低估值行业）在政策等催化下盈利还能够获得很好的成长性，那么就有可能获取非常大的超额回报。\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F73ceaa13-990c-4b07-bd26-6a1baa8ef129.jpg\">\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;text-align: center;\">\u003Cspan style=\"letter-spacing: 0.544px;font-size: 14px;color: rgb(136, 136, 136);\">图片说明：中庚领航基金重仓股\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;text-align: center;\">\u003Cspan style=\"letter-spacing: 0.544px;font-size: 14px;color: rgb(136, 136, 136);\">今年以来与沪深300走势对比\u003C\u002Fspan>\u003C\u002Fp>\n \u003Ch1 style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fh1>\n \u003Ch1 style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fh1>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002Ff7764410-3ebb-482a-a75e-fff352eff03f.jpg\">\n \u003C\u002Fsection>\n \u003Csection style=\"margin-right: 8px;margin-left: 8px;outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;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;\">\n  \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;\">03\u003C\u002Fstrong>\u003C\u002Fspan>\n \u003C\u002Fsection>\n \u003Ch1 style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003Cbr>\u003C\u002Fh1>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">除了基金年报，基金经理也会通过直播的方式和我们投资者沟通。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">这两天，我就听了兴全基金谢治宇的分享，对他提到的2个要点受益匪浅：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"color: rgb(214, 168, 65);\">\u003Cstrong>\u003Cspan style=\"color: rgb(214, 168, 65);font-size: 16px;letter-spacing: 0.544px;\">1. 长期来看，收益率会回归\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">从长期角度看，他对10%~15%的年化复合收益率是相对有把握的。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">但在过去两年，基金的收益率远远大于这个数，一年就翻了倍，大量投资者在火热阶段买入，反倒体验了“均值回归”的下跌之路。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">2. 基本面强劲，股价会回归\u003C\u002Fspan>\u003C\u002Fstrong>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">股价波动因素非常多，长期还是服从于基本面。短期跌得多不可怕，如果估值合理，基本面没问题，股价一定会回去的。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">股票的价格和情绪的钟摆往往是背离的，当你感受到风险，不一定真的是风险，被乐观情绪填充时，反倒应该当心。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F19c29700-1b2b-4893-b785-796b50743af9.jpg\">\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">那我们在投资中该怎么做呢？不妨来看看千亿基金经理的应对方式：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cbr>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">凭借重仓白酒获得巨大的关注后，张坤管理的基金回撤一度达到40%，备受争议。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">他在展望未来时并没有提到内外部环境，重述了\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">\u003Cstrong>自由现金流的重要性\u003C\u002Fstrong>\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">：\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>一个企业生产的产品多大程度被其客户所渴望，是否具有\u003Cstrong>优秀的商业模式\u003C\u002Fstrong>、是否具有护城河使其在长周期内维持良好的竞争格局，这些都是使收入转化为净利润，再转化为自由现金流的重要决定因素。\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cimg src=\"https:\u002F\u002Fimage.jane7.com\u002F1479680d-f1b9-4fe9-a064-0b8e44a832c7.jpg\">\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;text-align: center;\">\u003Cspan style=\"font-size: 14px;letter-spacing: 0.544px;color: rgb(136, 136, 136);\">图片说明：易方达蓝筹近两年重仓股对比\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">从持仓来看，张坤的风格倒是很鲜明，将资金集中在10个股票上，长期持有。\u003C\u002Fspan>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">即便是处于质疑声中，\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>顶流\u003Cspan style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 16px;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>基金经理们仍然\u003Cstrong style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cspan style=\"letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">「\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fstrong>不预测， 只应对\u003Cstrong style=\"font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cspan style=\"letter-spacing: 0.544px;background-color: rgb(255, 255, 255);\">」\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fstrong>，坚守自己的方法论。\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">而对我们普通投资者来说，也可以参考他们的思路，但更重要的是，制定好投资纪律（比如坚持定投），屏蔽市场中的噪音。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">衡量投资是否成功的办法，往往不是看我们有没有能力战胜市场，而是我们有没有一个为了达到自己目标的计划和行为规范。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">好啦，关于基金年报就和你分享到这里~喜欢这类型的分享，欢迎右下角点个\u003C\u002Fspan>\u003Cstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;color: rgb(214, 168, 65);\">「在看」\u003C\u002Fspan>\u003C\u002Fstrong>\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">，有机会咱们接着聊。\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">\u003Cbr>\u003C\u002Fspan>\u003C\u002Fp>\n \u003Cp style=\"margin-right: 8px;margin-left: 8px;white-space: normal;outline: 0px;max-width: 100%;font-family: -apple-system, &quot;system-ui&quot;, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 1.75em;box-sizing: border-box !important;overflow-wrap: break-word !important;\">\u003Cspan style=\"font-size: 16px;letter-spacing: 0.544px;\">晚安😊\u003C\u002Fspan>\u003C\u002Fp>\n\u003C\u002Fdiv>","","2022-04-06 23:59:00",100,0,"renqiang@jane7.com","2025-06-06 16:47:38",false,17089,"1038002",[],[],[],[],[30],{"pageSize":4,"articleWikiId":31,"wikiName":32,"articleCode":33,"locationType":34,"sortNumber":35,"articleTitle":36,"introduction":37,"coverImage":38,"likeCount":19,"realSearch":22,"createTime":39,"seoUrl":40,"seoKeywords":41},97,"理财产品","JP2020061821353578870",2,20200618,"1700亿抗疫特别国债来了，普通个人也能买，抢吗？","抗疫特别国债的投资细节，终于落地啦！赶紧和大家聊一聊~","https:\u002F\u002Fimage.jane7.com\u002F5028228b-0362-4027-bf4a-fe851d048900.png","2020-06-18 21:35:35","https:\u002F\u002Fwww.jane7.com\u002Farticle-financing-JP2020061821353578870-97.html","债券投资,低风险投资,财经新闻"]