［11月11日］指数估值数据(螺丝钉定投实盘第389期发车；养老指数估值表更新）

Market Overview - The market experienced a slight decline today, remaining at a 4.1 star rating [1] - Major indices like the CSI 300 saw significant drops [2] - Small and mid-cap stocks also experienced minor declines [3] - Value styles, such as dividend stocks, showed little volatility [4] - Growth styles, particularly the ChiNext and Sci-Tech boards, continued to decline, with a drop of 1.4% [5][6] Earnings and Valuation Insights - Growth style stocks showed good earnings growth in the first three quarters of the year [7] - The ChiNext achieved its largest quarterly gain in the last decade, leading to overvaluation by the end of September and early October [8] - Following this, valuations have started to retreat from their highs [9] Investment Strategies - The index enhancement investment strategy has returned to normal valuation, prompting a pause in new investments while maintaining existing holdings [12] - The actively selected investment strategy is still in normal investment mode, but it is approaching normal valuation levels [12] - The monthly investment strategy, which consists of 40% stocks and 60% bonds, is recommended for stable market participation [12] Pension Fund Insights - The pension index fund investment strategy has been ongoing, with a focus on combinations like the CSI 500 and CSI Dividend [28] - Both strategies have shown strong performance phases this year, with the CSI 500 up approximately 24% and the CSI Dividend up about 11% [32] - Current valuations for these funds have returned to normal, leading to a pause in new investments until undervalued opportunities arise [21][34] New Features and Tools - The introduction of an "automatic stop-loss" feature for actively selected and index enhancement strategies allows for automatic profit-taking when market conditions are favorable [41] - Investors can choose between manual and automatic investment tracking methods to align with their financial strategies [18][19] Investor Philosophy - The core philosophy of value investing emphasizes viewing stock purchases as acquiring ownership in companies, focusing on long-term profitability rather than short-term price fluctuations [43]