三周发85只基金，背后的生力军更强大！

Core Insights - The public fund issuance market is experiencing a significant surge, with equity products accounting for over 80% of the total [1]. Group 1: Cost Control - Cost control is essential for new funds entering the market, as they aim to take over positions from older funds to ensure good performance and attract more investments [2]. - Historical bull markets have often relied on this strategy of transferring positions among funds, creating a cycle of rising prices as long as there are buyers [2]. Group 2: Institutional Strategies - Institutions actively manage their investments by continuously reshuffling and seeking opportunities, which can lead to significant price movements before retail investors catch on [4]. - The "institutional inventory" data indicates that higher activity levels among institutions suggest a strong commitment to certain stocks, reflecting their confidence in those investments [6]. Group 3: Retail Investor Challenges - Retail investors face cognitive traps, as seen in the case of Huadong Holdings, where low institutional activity suggests a lack of interest, leading to higher risks despite potential themes [8]. - The market is increasingly dominated by algorithms, and retail investors must recognize their disadvantage and equip themselves with better tools to navigate the market [10].