SWHY(SZ:000166) 聪明投资者·2025-11-25 07:04Group 1 - The core viewpoint emphasizes the necessity of pursuing artificial intelligence regardless of potential bubbles, as it is tied to major power competition [2][26] - The article suggests that while AI stocks in the US may experience significant volatility, a collapse of the AI bubble in the US stock market is unlikely given the current interest rate environment and liquidity conditions [31][30] - The long-term value of gold as an asset is highlighted, with a caution about its phase volatility, especially when leveraged funds amplify fluctuations [2][108] Group 2 - The discussion on the real estate market indicates a "dark before dawn" sentiment, similar to the stock market outlook for the first half of 2024 [2][66] - The article notes that the long-term trend for the RMB is stable with a slight upward bias against the USD, but the USD index remains strong as long as the US economy outperforms other developed nations [2][107] - The analysis of the capital market suggests that the current bull market is far from over, with structural opportunities emerging, particularly in the technology sector [5][6][72] Group 3 - The article discusses the importance of structural solutions to address market issues, emphasizing that all problems are fundamentally structural and should be approached with appropriate methods [9][19] - It highlights the significant changes in the technology sector, particularly the emergence of DeepSeek, which underscores China's technological capabilities and the role of the private sector in innovation [21][23] - The article also points out that the current bull market is supported by solid fundamentals, with a gradual transition towards a comprehensive bull market as structural opportunities develop [40][43] Group 4 - The article addresses the need for a financial strong nation to have a capital market that effectively prices future industries and reduces equity risk premiums [86][92] - It suggests that high-dividend assets still have substantial absolute return potential, with current valuations being attractive compared to historical standards [95][96] - The discussion on the Hong Kong market emphasizes the importance of professional investment strategies for ordinary investors due to its higher volatility and information asymmetry [99]