今天都是“军工人”？一个现象需注意——道达投资手记

Group 1 - The core issue in the fund management industry is that fund managers earn fees regardless of performance, leading to a focus on scale rather than returns [1][2] - Many fund managers in China are relatively young, with an average age of 38.18 years, and lack experience in navigating full market cycles, which raises concerns about their ability to generate returns for investors [2] - There is a growing sentiment among investors questioning the justification for management fees when fund managers fail to deliver returns or create market value [2] Group 2 - The A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.28%, and trading volume in the Shanghai and Shenzhen markets reaching 12,934 billion, a decrease of 1,749 billion from the previous day [4] - Technical indicators suggest that the market may experience fluctuations, as the Shanghai Composite Index has reached a resistance level near its previous high [5] - The defense and military industry continues to lead in performance, but investors are cautioned against chasing high prices due to the potential for significant losses [6] Group 3 - The radar sector is highlighted as a key area of interest due to its importance in modern warfare, with significant gains in related stocks influenced by external factors [7] - New consumer stocks are performing well despite a general downturn in the consumer sector, with companies like "沪上阿姨" seeing a 40% increase on their first day of trading [8] - Recent data indicates a projected 175% increase in OLED display shipments by Q1 2025, suggesting growth potential in the display technology sector [11]