Core Insights - The article highlights the investment philosophy of Li Jin, a fund manager at Rongtong Fund, emphasizing the importance of continuous cognitive iteration to capture investment opportunities in rapidly changing industries [1] Group 1: Investment Philosophy - Li Jin believes that investment is akin to natural sciences, where stock prices are ultimately determined by company performance and industry development [2] - The investment strategy involves a combination of balanced and concentrated approaches, focusing on both risk control and seizing growth opportunities [3] Group 2: Research and Analysis - Li Jin adheres to the principle of "no investment without research," emphasizing the necessity of in-depth field research to understand the true dynamics of industries [4] - The research process includes evaluating a company's business model, competitive barriers, and the visibility of its business performance [5] Group 3: Investment Strategy Evolution - Initially, Li Jin's portfolio had a high allocation to the artificial intelligence sector, which led to significant performance volatility; he has since adjusted his strategy to better manage risk and returns [3] - The current investment portfolio includes both value growth and cyclical growth assets, aiming for a balanced approach to maximize returns while maintaining a rational valuation anchor [3]
以认知破局 以调研求实——融通基金李进的成长投资之路
Shang Hai Zheng Quan Bao·2025-11-23 13:51