Core Viewpoint - The A-share market has shown extreme divergence this year, with the Sci-Tech 100 Index rising over 60% while the Dividend Index has fallen nearly 8%, indicating a significant disparity in performance among different sectors [1][3]. Group 1: Market Performance - The Shanghai Composite Index briefly surpassed 3900 points, reaching a 10-year closing high [1]. - The Sci-Tech 100 Index and Sci-Tech 50 Index have increased by 61% and 56% respectively, while the Dividend Index has decreased by 7.19% [3]. - Approximately 500 stocks have doubled in value this year, accounting for nearly 10% of the market [3]. Group 2: Investor Psychology - Many investors may feel distressed by underperforming in the market, leading to a detrimental mindset that equates others' gains with personal losses [3]. - This mindset can result in irrational behavior, prompting investors to buy stocks they should not hold, driven by the fear of missing out on potential gains [3][4]. - Legendary fund manager Peter Lynch noted that many investors suffer from the pain of missing out on top-performing stocks, which can lead to poor investment decisions [3]. Group 3: Investment Principles - Successful investing is not about achieving the highest returns but about reaching financial goals with the lowest possible risk [4]. - The principles of investing emphasize that stocks represent ownership in real businesses, and their value is not solely dependent on stock prices [9]. - Investors should focus on the future value of investments relative to their current prices, as higher prices generally lead to lower returns [10].