私募排排网·2025-12-24 07:00Core Viewpoint - The article discusses the investment strategies of Dan Bin, a prominent figure in China's capital market, who has shifted his focus from traditional sectors like liquor to the AI industry, emphasizing long-term investment in great companies [2][3]. Group 1: Investment Strategy - Dan Bin has transitioned his investment focus from the Chinese liquor market to global AI companies, particularly in the U.S., since 2022 [3][8]. - His private equity fund, Dongfang Gangwan, has achieved impressive returns, leading among over 100 billion private equity funds with an average return of ***% over the past three years [3][4]. - The fund's top holdings include major AI players like Nvidia and Google, reflecting a strategy of investing in companies with long-term certainty and significant market influence [10][11]. Group 2: Performance and Holdings - As of the end of Q3 2025, Dongfang Gangwan held 17 U.S. stocks with a total market value of $12.92 billion, with Nvidia being the largest position [6][7]. - The fund's three top-performing products over the past three years have also shown significant returns, with each achieving returns of ***% [4]. - Nvidia's stock has increased over tenfold since 2022, raising questions about potential market bubbles similar to past events in the liquor sector [8][9]. Group 3: Market Outlook - Dan Bin believes the current AI wave is not a bubble but rather the beginning of a long-term cycle, akin to the tech boom of the late 1990s, suggesting that AI will be a transformative force for at least the next decade [8][9]. - He warns against missing out on this era, emphasizing the importance of recognizing and adapting to significant market changes [9][10].