近日，有关"私募魔女"李蓓开投资课的事刷爆金融圈。 12月26日，李蓓通过个人公众号"半夏投资"发文宣布，将推出名为"从0开始学投资"的系列课程，定价 高达12888元。课程称，4节课教会普通人做投资，轻松实现10%以上长期年化收益。 舆论发酵后，12月27日，李蓓再度发文回应称，她并不是要开展知识付费的收入第二曲线，并不指望靠 这个赚钱。"知识付费这个领域，每年变现最高的估计也就千万。大家都知道，我不缺几千万。" 李蓓是国内宏观对冲投资领域的先行者和领导者，李蓓在2011年发起成立并管理，国内仍在运行的最早 的真正意义上的宏观对冲基金：泓湖重域宏观对冲基金。在管理泓湖系列宏观对冲基金期间，李蓓所管 理的基金以及管理基金所在机构上海泓湖投资，因其管理基金的优秀业绩，多次获得业内重要奖项。 收入将放入慈善基金 12月26日，李蓓在公众号正式发布了开课链接，其本次4节课分别为普通人学投资的基础知识、普通人 投资的潜在选项和取舍的思路、大类资产择时和股票市场风格选择以及个股的机会和风险。 报名页面对李蓓的介绍是，业内称号——"私募魔女"。宏观对冲私募基金经理，19年投资管理经验，半 夏投资创始人，北京大学本硕。20 ...

收入将放入慈善基金 12月26日，李蓓在公众号正式发布了开课链接，其本次4节课分别为普通人学投资的基础知识、普通人投资的潜在选 项和取舍的思路、大类资产择时和股票市场风格选择以及个股的机会和风险。 报名页面对李蓓的介绍是，业内称号——"私募魔女"。宏观对冲私募基金经理，19年投资管理经验，半夏投资创始 人，北京大学本硕。2017年创立半夏投资，2022年管理规模突破百亿，国内首位百亿私募女掌门，擅长经济周期分析 和国别比较，擅长大类资产的比较和投资，熟悉衍生品的运用，长期业绩优秀。 近日，有关"私募魔女"李蓓开投资课的事刷爆金融圈。 12月26日，李蓓通过个人公众号"半夏投资"发文宣布，将推出名为"从0开始学投资"的系列课程，定价高达12888元。 课程称，4节课教会普通人做投资，轻松实现10%以上长期年化收益。 舆论发酵后，12月27日，李蓓再度发文回应称，她并不是要开展知识付费的收入第二曲线，并不指望靠这个赚 钱。"知识付费这个领域，每年变现最高的估计也就千万。大家都知道，我不缺几千万。" 而对于目前市场上的一些疑问，李蓓透露称："本次课程会是唯一的一次系统性线下课，不会有第二场；人数限定在 200人以内 ...

Core Insights - The essence of non-performing asset (NPA) business lies in liberating production factors from bad assets and reintegrating them into new combinations to create new productive forces [1][2] - The management of non-performing assets is crucial for mitigating financial risks and supporting high-quality economic development, especially during economic transitions [2][6] Group 1: Understanding Non-Performing Asset Business - The domestic non-performing asset management industry originated in the late 1990s to address financial risks and promote state-owned enterprise reforms [3] - Two prevalent theories in the industry are the "Popsicle Effect" and the "Counter-Cyclical Hypothesis," which highlight the instability of micro-value and the long macro-disposal cycles of non-performing assets [3] Group 2: Profit Logic and Social Value of Non-Performing Asset Business - The existence of asset management companies is justified by their ability to demonstrate strong vitality in the national economy over the past two decades, despite the lack of comparative advantages in asset disposal [4] - Non-performing asset management plays a vital role in reallocating production factors to adapt to the current economic transformation, thus enhancing social value [6] Group 3: Role of Rating Companies in Non-Performing Asset Business - Rating companies, as independent think tanks, should leverage their expertise to assist asset management companies in developing restructuring businesses and mastering economic risk assessments [2][9] - The collaboration between asset management companies and rating companies can lead to resource sharing and complementary advantages, enhancing the effectiveness of non-performing asset management [11] Group 4: Pathways for Rating Companies to Support Non-Performing Asset Management - Rating companies can provide meaningful research support in the high-yield and junk bond sectors, expanding the scope of non-performing assets [11][12] - By utilizing their macroeconomic research capabilities, rating companies can help identify trading opportunities and facilitate enterprise restructuring [12][13] - The collaboration can also empower state-owned asset management companies to gain insights into economic risk assessments, enhancing their role in national decision-making [13]