伯克希尔首次建仓Alphabet，科技或可逢低加仓

Market Review - The equity market experienced a decline last week, with the STAR 50 index dropping the most at 3.85%. Other indices such as the ChiNext index fell by 3.01%, and the CSI 300 index decreased by 1.08% [4][5] - In the bond market, the 10-year government bond yield decreased by 0.02 basis points to 1.814%, while the 1-year yield increased from 1.405% to 1.410% [8][12] - The fund market saw a decline in equity funds by 0.71%, while secondary bond fund indices showed slight increases [15] Equity Product Allocation Strategy Event-Driven Strategy - The commissioning of China's first electromagnetic aircraft carrier presents investment opportunities in sectors such as aerospace, high-end equipment, and defense [17] - The State Council's meeting emphasized enhancing the adaptability of supply and demand for consumer goods, suggesting potential in the consumer sector [18] - Berkshire Hathaway's initial investment in Alphabet, valued at $4.3 billion, highlights the focus on AI technology and presents opportunities in related funds [19] Asset Allocation Strategy - The strategy suggests a balanced core with a barbell approach, focusing on dividend and technology sectors [20] - The dividend sector is seen as valuable due to low interest rates and government support for regular dividends [21] - The technology sector is highlighted for its growth potential driven by national policy support and global trends in AI [21][22] Stable Product Allocation Strategy Market Analysis - The central bank's net injection of 626.2 billion yuan indicates a tightening of the funding environment [26] - The retail sales total for October showed a year-on-year growth of 2.9%, while industrial output increased by 4.9% [26] - Convertible bonds are noted for their volatility risks, with recent price movements indicating a need for caution [26] Key Focus Products - Short-term bond funds are recommended, with an emphasis on adjusting yield expectations [29] - Funds such as Nord Short Bond A and Guotai Lianan Medium and Short Bond A are highlighted for their stable performance [31]