施罗德投资：预期股票仍将带来正面回报 可寻求多元投资机遇

Group 1 - The market is concerned about stock valuations as it approaches 2026, with significant investments in data centers and cloud infrastructure by large cloud service providers, while many AI startups continue to report losses, leading to inflated valuations due to supplier financing [1] - Despite concerns, the stock market is supported by stable bond yields, controlled inflation, and potential further easing of monetary policy by central banks [1] - The risk of a U.S. economic recession is considered low, with a slowing labor market but low unemployment rates and healthy balance sheets among private institutions, leading to expectations of positive stock returns [1] Group 2 - Investment opportunities are still seen at the individual stock level, emphasizing the importance of thorough analysis of company fundamentals rather than relying solely on index weightings [2] - The benefits of diversified investments across different regions have been demonstrated, with value investments performing well outside the U.S. and emerging market bonds offering better dynamic and real yields compared to developed market bonds [2] - Alternative investments such as insurance-linked securities (ILS) and infrastructure debt may provide yield opportunities, while liquid hedge fund strategies can offer a way to maintain investments while further diversifying [2]