在这个大会现场，但斌用了一张图推演“100亿资产涨到13万亿”的过程

Core Insights - The 2025 Analyst Conference was held on November 28, gathering experts, fund managers, and chief analysts to explore investment opportunities across cycles [1] - Dongfang Hongyuan's founder, Dan Bin, presented a historical analysis of the Nasdaq over the past 35 years, illustrating the potential growth of assets through strategic investment choices [4] Investment Strategy - Dan Bin emphasized the importance of a global perspective in investment, using a hypothetical scenario where a Japanese asset management company invested $10 billion in the 1990s in Nasdaq instead of Japanese assets, which would have grown to $130 billion in 10 years [4] - He highlighted that the Nikkei index has only increased by 30% over the past 35 years, not accounting for currency fluctuations, indicating a significant opportunity cost for investors who remained focused solely on Japanese assets [4] Market Trends - The discussion pointed out that the internet and mobile internet revolutions have primarily benefited the U.S. and China, while Japan has not seen substantial economic contributions from these developments [4] - The potential for exponential growth in investments was illustrated, with projections suggesting that if the initial $10 billion investment continued in Nasdaq, it could reach $13 trillion with the rise of artificial intelligence [4]