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谁是这轮行情最悲催的人?

Core Viewpoint - The article emphasizes that younger investors should avoid competing in the same investment arena as older investors, particularly in traditional sectors, and instead focus on emerging industries that older investors may not understand [2][3][9]. Group 1: Investment Strategies - Older investors, referred to as "老登," have benefited from previous market trends, particularly in sectors like liquor and consumer goods, but may miss out on new technology trends [2][3]. - Younger investors should seek opportunities in industries that are not yet recognized by older investors, as this could provide a chance for significant returns [3][9]. Group 2: Case Study of Kweichow Moutai - Kweichow Moutai's stock price increased from approximately 4 yuan at its IPO in 2001 to a peak of around 2342 yuan in 2021, representing a growth of over 580 times [4]. - The company's revenue grew from 1.618 billion yuan in 2001 to 109.5 billion yuan in 2021, an increase of about 68 times [6][7]. - To replicate its past success, Kweichow Moutai would need to achieve a revenue of approximately 11.8 trillion yuan in 20 years, which is nearly 15 times the current size of the entire liquor industry [8]. Group 3: Investment Considerations - Investing in traditional industry leaders like Kweichow Moutai may only be suitable for those with substantial capital, as the potential for high returns diminishes for smaller investors [8][9]. - The article suggests that younger investors would be better off focusing on their careers rather than spending time in the stock market, as the opportunity cost may be higher [9].