钮文新：指数化投资特别适合散户

Core Viewpoint - The recent stock market has been a test of courage, with seemingly scary stocks rising consistently, while some favored stocks have not performed well [1][4]. Group 1: Market Trends - There is a positive trend in the acceptance of index-based investing among retail investors, which is seen as a significant development in the current stock market [5]. - Many large institutions are now operating Exchange-Traded Funds (ETFs), indicating a shift towards index investing in China’s stock market [5]. Group 2: Investment Strategies - Selecting individual stocks has become increasingly difficult, making index investing a suitable option for retail investors who may not be adept at stock picking [5]. - By investing in a basket of stocks through index funds, investors can achieve a relatively stable average return, even if they do not experience the high volatility of stocks that rise dramatically [5]. - The potential for broader acceptance of index investing could lead to a more stable upward trend in the market [5].