券商公募牌照撤退，散户机会来了？

Group 1 - The withdrawal of public fund license applications by four brokerage asset management subsidiaries indicates a strategic shift in the market, suggesting that institutions are seeking more suitable survival strategies [1][2]. - Currently, only 14 out of 30 brokerage asset management subsidiaries hold public fund licenses, with the rest shifting focus to private equity, highlighting market differentiation [2]. - The statement from Guojin Securities about focusing on core competitiveness reflects the challenges in the public fund sector, which is becoming increasingly difficult to navigate [2]. Group 2 - The article emphasizes the importance of understanding market dynamics and the true intentions behind capital flows, rather than relying solely on traditional stock selection methods [3][5]. - It discusses the phenomenon of "institutional shakeout" during market adjustments, where investors often panic and exit, missing potential accumulation opportunities by institutions [5][7]. - The need for retail investors to adapt to the changing market landscape is stressed, advocating for a quantitative approach to observe market behaviors and differentiate strategies [8].