主动优选策略，近年来表现如何，该如何止盈？｜第416期直播回放

Core Viewpoint - The article discusses the performance and characteristics of the proactive selection strategy in fund management, emphasizing the importance of selecting skilled fund managers and the strategy's ability to achieve higher returns with lower risks compared to the market. Group 1: Fund Manager Selection - The proactive selection strategy focuses on selecting excellent fund managers, as investing in active funds essentially means investing in the fund manager [3][4]. - A strong fund company typically has a complete talent hierarchy of fund managers, including veterans, mid-generation, and new-generation managers [5]. - The first tier consists of veterans who have experienced multiple market cycles and are considered key targets for investment [5][7]. - The second tier includes mid-generation managers who may have less experience but show potential, often trained by veterans [5][7]. - The third tier consists of new-generation managers with less than three years of experience, who have not yet faced significant market downturns [5]. Group 2: Performance of Proactive Selection Strategy - The proactive selection strategy has consistently outperformed the overall market, with a cumulative return exceeding the CSI 300 Index by 7.08% as of October 2025 [17]. - The strategy's maximum drawdown is lower than that of the market, indicating a better risk-return profile [17]. - The strategy has a quarterly performance win rate of 66.67% from 2022 to 2025, demonstrating its effectiveness over time [19]. Group 3: Investment Behavior and Pricing - The article highlights the importance of buying at good prices, as even the best stocks can lead to losses if purchased at high valuations [33]. - The proactive selection strategy encourages investors to buy more during market downturns, effectively lowering their average cost [36]. - A high repurchase rate of 97.2% indicates that most investors continue to invest during bear markets, showing confidence in the strategy [42]. Group 4: Automatic Rebalancing and Profit-Taking - The proactive selection strategy includes an automatic rebalancing feature that helps investors take profits from overvalued assets and reinvest in undervalued ones [45]. - The strategy provides signals for profit-taking when the overall market is overvalued, allowing for a gradual transition to more stable investment options [49][50].