金融工程周报：去溢价去杠杆行情，短期有望见到低点

• The report introduces two key factors: "Earnings Expectation" factor and "Whale Following Composite Fund Flow" factor[29] - The "Earnings Expectation" factor represents changes in investor expectations based on earnings reports[29] - The "Whale Following Composite Fund Flow" factor represents the trading behavior of smart money[29] - The report shows that the "Whale Following" industry rotation portfolio had an absolute return of 1.00% and a relative return of 0.41% compared to the industry equal-weight benchmark last week[30] - The report includes various charts to monitor factor performance, such as excess returns, RANK IC changes, long-short trends, and pure long trends[40][41][42][43]