以下文章来源于螺旋实验室 ，作者螺旋君 螺旋实验室 . 公众情绪瞭望者 作者： 螺旋实验室 来源： 螺旋实验室 2026年春节前夕，当人们还沉浸在辞旧迎新的喜悦中时，那个曾经叫板一众同行，喊出"好空调， 志高造"的空调巨头，却没能走进新的一年。 -------------------------- 2月13日，佛山市南海区人民法院正式发布公告，将启动广东志高空调有限公司破产清算程序，这 家曾跻身空调行业"四小龙"的老牌企业，终究还是要告别江湖。 志高空调的困境并非始于当下。2011年，志高空调出现了上市以来的首次亏损，2019年亏损进一 步飙升至14亿元，这些年的持续亏损，也成为了公司从香港交易所退市的导火索。 在这之后，志高空调经历了数年的自我调整，但声量也愈发沉寂。这么看来，这一纸公告似乎也并 非全然是坏事，对志高空调而言，往日不可追，重要的是能否再次站起来。 创始人曾叫板董明珠 要读懂今天的志高空调，就绕不开品牌创始人李兴浩。时间倒回三十年前，那是一个英雄辈出的年 代，李兴浩带着一股子草莽英雄的蛮劲，闯进了空调市场。 辍学从商的李兴浩曾在街头卖过冰棍、碎布，并存下了第一桶金。后来，李兴浩从事餐饮生意，却 ...

↑点击上面图片 加雪球核心交流群 ↑ 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者：鑫鑫-投资 来源：雪球 第一章： 这台机器的零件，比你想的简单得多 大多数人觉得经济很复杂——GDP、利率、通胀、量化宽松、财政赤字……这些词汇像一团乱麻。 但达利欧说，如果你理解了 交易 这个最小单位，你就理解了整台机器。 一切的起点：一笔交易 你每天都在进行交易。早上买杯咖啡，你用钱（或白条）换取了一杯小黄油拿铁。这就是一笔交易。 交易的定义是买方用货币或信用，与卖方交换商品、服务或金融资产。如果你把一个经济体里所有的交易加起来，所有市场（小麦市场、汽车市 场、股票市场……）的所有买卖，你就得到了这个经济体的全部活动。 这就是经济的全部。真的，就这么简单。一个市场，就是所有买家和卖家为同一种东西进行交易的地方。一个经济体，就是所有市场里所有交易的 总和。 最关键的发现：信用才是最大的驱动力 这里有一个99%的人都搞错的认知： 大多数人认为的「钱」，其实不是钱，而是信用。 在美国，信用总额约50万亿美元，而真正的货币（现金、储备金）只有约3万亿美元。信用和货币的区别在哪？ 货币是 ...

格隆汇2月27日丨莱克电气(603355.SH)公布，为充分借助专业投资机构的专业资源及其投资管理优势， 拓展公司多元化投资渠道，进一步提升公司的综合竞争力和盈利能力，近日公司与普通合伙人苏州隆湫 私募基金管理有限公司签署了《莱克隆湫永赢（苏州）创业投资合伙企业（有限合伙）合伙协议》。合 伙企业募集资金总规模拟为人民币1.01亿元，其中公司作为有限合伙人以自有资金认缴出资人民币1亿 元，占认缴出资总额的99.0099%。标的基金重点投资高端装备制造等领域的企业。 ...

我们来分析当前投资市场的特点。随着全球化的深入发展，资本流动更加自由，投资市场也变得更加国际化。新兴市场的崛起为全球投 资者提供了新的投资渠道，同时也带来了新的风险。此外，科技的进步，尤其是金融科技的发展，正在改变传统的投资模式，为投资者 提供了更多的工具和平台。 海能投顾：为投资者提供了更多的工具和平台 在这样的背景下，投资者需要具备全球化视野，关注全球经济的发展趋势，以及各国政策的变化。例如，美联储的利率决策、中国的经 济增长速度、欧洲的政治稳定性等，都是影响全球投资市场的重要因素。投资者应该密切关注这些宏观因素，以便及时调整自己的投资 组合。 接下来，我们来探讨投资策略。在多变的市场环境中，多元化投资是一种有效的风险管理手段。投资者应该根据自己的风险承受能力， 将资金分散投资于不同的资产类别，如股票、债券、商品、房地产等。这样，即使某一市场或资产类别出现波动，也不会对整个投资组 合造成太大影响。 此外，长期投资策略也是值得考虑的。短期市场波动往往难以预测，而长期投资可以减少市场噪音的影响，让投资者更加专注于基本面 分析。通过深入研究公司的基本面，选择那些具有强大竞争力和良好增长前景的企业进行投资，往往能 ...

【环球网财经综合报道】据路透社消息，随着大型科技股的回报逐渐消退，以及表现更好的海外市场变得更具吸引力，美国投资者正以至少16年来的最快速 度撤离本国股市。 伦敦证券交易所集团（LSEG）旗下的Lipper数据显示，在过去六个月里，总部位于美国的投资者已从美国股票产品中撤出约750亿美元，其中仅自2026年初 以来的流出额就达520亿美元，这是自2010年以来年初八周最大的资金流出规模。 路透社报道，尽管美元兑其他货币汇率走弱，使得美国投资者购买海外资产的成本更高，但这一转变依然存在。这是一个有力的信号，表明过去一年一些国 际投资者所做的远离美国资产的多元化投资正在美国投资者中获得关注。 随着人们对人工智能潜在风险以及相关成本的担忧加剧，华尔街股票的吸引力减弱。此前美国巨头科技股一直上涨，股价飙升让投资者变得更加挑剔，许多 人正在其他地方发现更具吸引力的机会。 美国银行（Bank of America）2月份的基金经理调查显示，投资者从美国股市转向新兴市场股市的速度达到了五年来最快。 "今年我与我们在美国的财富业务部门进行了很多次对话。"瑞银（UBS）欧洲股票策略及全球衍生品策略主管Gerry Fowler表 ...

Group 1 - The long-term upward trend of gold prices remains unchanged despite a recent significant drop in prices [1][2] - The two main driving factors for gold's value are changes in the world order and inflation, leading to a desire for diversified investments [1][2] - Gold prices have fallen by 15% from last week's historical high, following a period of rapid increases driven by speculative buying, geopolitical tensions, and concerns over the independence of the Federal Reserve [1][2] Group 2 - Some market participants caution that the rapid price increases were excessive, resulting in the largest drop in gold prices since 2013 and the largest single-day drop in silver prices [1][2] - There are long-term buyers for gold, but short-term funds can easily push prices down by 10% to 15%, which does not alter the long-term trend [1][2]

Core Viewpoint - The simultaneous selloff across various asset classes, including gold, silver, oil, stocks, and cryptocurrencies, has reignited discussions on the effectiveness of diversification strategies in investment portfolios [1] Group 1: Market Reactions - The selloff indicates a potential correlation among traditionally uncorrelated assets, challenging the notion that diversification can mitigate risk during market downturns [1] - Financial experts caution against making hasty judgments about long-term investment strategies based on short-term market movements [1] Group 2: Expert Opinions - Analysts emphasize the importance of maintaining a long-term perspective when evaluating investment strategies, despite current market volatility [1] - The current market conditions may lead to a reevaluation of asset allocation strategies among investors [1]

Core Viewpoint - The global financial market in 2026 presents both opportunities and challenges, with a notable rise in precious metals and AI-driven investment, while concerns about the weakening dollar and U.S. debt persist [2]. Group 1: China’s Economic Outlook - Goldman Sachs CEO David Solomon stated that China has achieved its 2025 growth target, indicating a constructive outlook for the economy [2]. - Solomon observed a steady increase in the vitality of the Chinese market, with global investors showing renewed interest [3]. - The Chinese economy is characterized as one of the most important globally, benefiting from technological innovation and a strong manufacturing and export base [15]. Group 2: Capital Market Developments - The recovery of the Chinese capital market has created more business opportunities for foreign institutions, with a notable increase in IPO activities, particularly in Hong Kong [4][21]. - International capital inflow into China has increased over the past year, and this trend is expected to continue into 2026 [5][18]. - The Hong Kong IPO market saw significant growth in 2025, with 117 new listings and a total fundraising amount of 285.69 billion HKD, marking a substantial increase from 2024 [21]. Group 3: Investment Strategies - Solomon emphasized the importance of diversified investment strategies, recommending a balanced global portfolio that includes various asset classes across different markets [13]. - He suggested that younger investors should focus more on stocks for long-term growth, while older investors might prefer a more conservative asset allocation [13]. Group 4: Global Financial Trends - The dollar index has recently fallen to a near four-year low, with fluctuations expected in the short term, but a stabilization in the medium term is anticipated [8][10]. - Despite geopolitical uncertainties, the fundamental position of the dollar as a primary reserve currency remains unchanged [9]. - Gold prices have surged, with predictions for a significant increase by the end of 2026, reflecting ongoing demand from global central banks [11].

Core Viewpoint - Global investors are increasingly focused on the Chinese market as it shows signs of recovery and growth potential, despite ongoing global economic uncertainties [1][8]. Group 1: Economic Outlook - Goldman Sachs CEO David Solomon stated that China achieved its 2025 growth target, indicating constructive economic progress [1]. - The Chinese economy is characterized as one of the most important and diverse globally, benefiting from technological innovation and a strong manufacturing and export base [8]. - The actual export growth rate in China is projected to reach approximately 8% in 2025 and 5% in 2026, with consumer spending expected to improve due to government subsidies [8][10]. Group 2: Capital Market Trends - The Chinese capital market is experiencing a revival, with a significant increase in international capital inflows, particularly in the Hong Kong IPO market, which saw a 67% increase in new stock listings and a 224% increase in fundraising in 2025 [9][12]. - Goldman Sachs has noted a resurgence in IPO activities and a heightened demand for financial advisory services, presenting new opportunities for investment banking [2][12]. - The firm has achieved a market share of over 10% in the Hong Kong stock capital market in 2025, positioning itself favorably amidst the market's recovery [12]. Group 3: Investment Strategies - Solomon emphasized the importance of diversified investment strategies, recommending a balanced global portfolio that includes various asset classes across different markets [7]. - Long-term investment strategies are encouraged, particularly for younger investors who should focus more on equities for growth [7]. Group 4: Dollar and Gold Market Dynamics - The recent decline of the US dollar, which fell to a near four-year low, is seen as a temporary fluctuation, with expectations of stabilization in the medium term [5]. - Gold prices have surged, with forecasts predicting an increase to $5,400 per ounce by the end of 2026, reflecting ongoing demand from global central banks [6]. - Despite the current strength of gold, Solomon believes that equities may offer better long-term returns compared to gold [6]. Group 5: Foreign Investment and Market Openness - There is a consensus among foreign investors regarding the trend of capital returning to China, driven by the country's economic significance and recent openness initiatives [10][11]. - Solomon expressed optimism about further policy developments that would enhance foreign access to the Chinese market, which is crucial for attracting more capital [13].

Group 1 - International gold and silver prices have reached record highs, with gold surpassing $5500 per ounce and silver exceeding $119 per ounce [1][3] - Year-to-date, gold prices have increased by over 25%, while silver has surged nearly 65% [3] - The rise in gold prices is attributed to a weak US dollar and investor sell-offs of sovereign bonds and currencies, alongside geopolitical tensions involving the US [3][4] Group 2 - Concerns over Japan's massive fiscal spending have led to significant sell-offs in the Japanese bond market, contributing to a weaker dollar and making precious metals cheaper for buyers [4] - The selection of the next Federal Reserve Chair is expected to be a key factor influencing gold prices this year, with speculation that the new chair may adopt a more dovish stance [4] - The Federal Reserve has maintained its federal funds rate target range at 3.5% to 3.75% following a recent monetary policy meeting [4]