网红老师李永乐吐槽“基金赔钱”，普通人如何避坑？

Group 1 - The core viewpoint of the article highlights the disparity between the performance of public funds and the market, with many funds purchased at market peaks in 2020 and 2021 still struggling to recover their value [1][3] - In 2025, despite the emergence of over 20 "doubling funds," the average annualized return for the China Securities Equity Fund Index over the past five years is -1.19%, indicating that most investors who bought at the 2020 market peak have not yet broken even [3][4] - Investor behavior significantly impacts returns, with common issues such as "buy high, sell low" leading to substantial losses, as evidenced by a well-known industry fund that experienced a 60% actual loss due to behavioral factors [6][8] Group 2 - To avoid "high position standing," investors are advised to clarify their risk preferences and construct suitable portfolios, with conservative investors recommended to focus on fixed-income funds and limit equity exposure to 20% [11][12] - The article suggests using dollar-cost averaging or phased buying to spread entry costs and reduce timing difficulties, emphasizing the importance of evaluating fund managers based on their capabilities rather than short-term rankings [12][13] - Fund companies are adapting by limiting subscriptions to certain actively managed equity funds and shifting focus from individual fund managers to teams and selected product categories, aiming to provide more stable products and services for investors [12][13]