Group 1 - The core logic behind the recent A-share market reaching 3800 points is based on a mature investment strategy system that emphasizes low valuation strategies [1] - Successful investors, such as Buffett and Templeton, predominantly utilize low valuation strategies, highlighting the importance of buying undervalued assets [1] - The traditional low valuation strategy faces challenges in asset management due to its contrarian nature, which may not align with the expectations of the majority of clients [1] Group 2 - Between 2017 and 2019, the investment team upgraded their strategy by adding a key dimension: identifying industries with the highest future profit elasticity [1] - This approach involves not only evaluating valuations but also conducting cross-industry comparisons to identify sectors with the fastest potential profit growth over the next three to four years [1] - The goal of this strategy is to compensate for the shortcomings of low valuation strategies during bull markets [1]