Core Viewpoint - The article emphasizes the importance of maintaining discipline in investment strategies during a bull market, highlighting five key recommendations to avoid common pitfalls and maximize returns [1][16]. Group 1: Investment Discipline - Investors should adhere to their regular investment plans and continue systematic investment even in a bull market, avoiding the temptation to make large, impulsive investments [4][15]. - It is crucial to set specific limits for additional investments, such as a percentage of monthly income, and to avoid going "all in" [5][15]. - The tendency to sell existing investments to chase higher returns can lead to losses; therefore, investors should focus on holding quality funds [7][8]. Group 2: Profit Management - Caution is advised when considering adding to positions after realizing profits; a "pyramid" approach should be used, buying more at lower valuations and less as prices rise [11][15]. - Setting clear profit-taking targets before entering a position is essential, with recommendations to sell portions of holdings at predetermined profit levels [14][15]. - Maintaining awareness of market conditions and avoiding emotional decisions during periods of market euphoria is critical to prevent significant losses [13][15]. Group 3: General Market Awareness - The article warns that bull markets can create a false sense of security, and investors should remain vigilant against the risks of market bubbles and emotional trading [16]. - It is highlighted that the A-share market typically experiences short bull runs followed by longer bear markets, necessitating a calm and disciplined approach to investing [16].

Group 1 - The core viewpoint of the article emphasizes the importance of taking profits in investment, highlighting that without realizing gains, profits are not truly earned [3][4] - The article discusses the challenges of profit-taking, particularly in value investing, where investors struggle to determine when to sell, often leading to poor decision-making [5][8] - It introduces the concept of asset allocation as a solution to the difficulties of profit-taking, suggesting that diversifying investments across multiple asset classes can simplify decision-making [9][10] Group 2 - The article explains dynamic rebalancing as a strategy that allows investors to manage their portfolios without needing to make complex decisions about individual asset prices [10][12] - It outlines the benefits of dynamic rebalancing, stating that it can generate positive returns even in sideways markets by capturing price fluctuations between different assets [13] - The article provides methods for executing dynamic rebalancing, including time-based and price-based approaches, to maintain the desired asset allocation [16][18][20] Group 3 - The article emphasizes the importance of effective diversification, recommending a mix of stocks, bonds, and commodities to enhance the chances of successful rebalancing [14] - It suggests that investors can utilize tools like the "three-part method" for asset allocation, which helps in assessing the correlation between different assets [14][24] - The article concludes by promoting the use of automated reminders and services to assist investors in maintaining their asset allocation strategy [20][24]

Group 1: Stock Market Insights - The Shanghai Composite Index has been hovering around 3000 points, creating a psychological barrier for investors [3] - The ChiNext Index fell to approximately 2000 points in early June 2025, reflecting widespread market pessimism [3] - Despite potential further declines of about 10%, the likelihood of a rebound in the next one to two years is considered significant [3] Group 2: Real Estate Market Analysis - In major cities, second-hand housing prices have declined for three consecutive months from March to May 2025, with an average drop of over 20% since 2021 [4] - The price drop in first-tier and quality second-tier cities may indicate a cyclical bottom, despite the current negative sentiment towards home buying [4] - Historical trends show that asset prices, including real estate, tend to outperform currency over the long term, as evidenced by Japan's property market recovery post-bubble [4] Group 3: Gold Market Trends - International gold prices surged over 60% from early 2024 to May 2025, attracting bullish sentiment from major investment banks [6] - Historical data suggests that gold has never experienced two consecutive years of price increases, indicating that the current bullish phase may be nearing its end [6] - The rise in gold prices is driven by geopolitical tensions and monetary policy adjustments, highlighting the need for caution among investors [6] Group 4: Investment Strategy and Philosophy - Asset price fluctuations exhibit clear cyclical patterns, emphasizing the importance of understanding the "盛极而衰，否极泰来" principle [8] - Investors are encouraged to adopt a long-term perspective, focusing on strategic positioning during market lows and exercising caution during market highs [8] - Diversifying investments across different asset classes can help mitigate risks and smooth out volatility [8]