Core Insights - A non-financial professional, Ji Yecheng, won the championship in the recent 19th National Futures (Options) Real Trading Competition, showcasing the potential for success in trading without a formal financial background [1][7] - Ji's trading system, developed over years of part-time effort, emphasizes emotional stability and a structured approach to trading, even during significant market fluctuations [3][4][7] Background and Journey - Ji Yecheng's investment journey began in college, where initial curiosity led to early stock market engagement, laying the foundation for his future trading endeavors [2] - He entered the futures market in 2012, attracted by the dual trading nature of futures, which aligns with his engineering mindset focused on efficiency and logical symmetry [2] Trading Strategy and Performance - Ji's key to success in the competition was his ability to capitalize on stock index opportunities, particularly from April to August, during a period of structural market clarity and policy-driven momentum [3] - He experienced a maximum drawdown of 60% during the competition but maintained emotional stability by focusing on the underlying asset's performance rather than the fluctuations in his capital [3][4] Trading System Framework - Ji's trading framework involves macroeconomic analysis to select major asset classes, followed by specific asset category analysis for trade execution [5] - He emphasizes the importance of understanding inter-asset relationships, especially in a complex global liquidity environment expected in 2025 [5] Use of Options and Futures - Ji employs options as a leverage tool rather than focusing on implied volatility, using them strategically to manage risk while enhancing returns [6] - He advocates for a balanced approach to trading, suggesting that traders should not expect overnight wealth but rather focus on wealth management and continuous learning [6] Conclusion - Ji Yecheng's experience illustrates that a stable mindset, a well-structured trading system, and a commitment to ongoing education are more critical than a professional financial background in achieving success in the futures market [7]

Group 1 - The asset management market is entering a new era characterized by low interest rates and high volatility, necessitating a reliance on technological management for investments and products [1][2] - The current environment shows a significant decline in high-yield assets as many have matured, leading to a scarcity of investment managers capable of meeting investors' demand for flexible returns [2][4] - The market is experiencing a shift where traditional fixed-income assets are under pressure, and the focus is now on generating excess returns beyond fixed income [4][5] Group 2 - The main challenges in the asset management industry include product classification and customer segmentation, with a need to provide suitable products for different client needs [5][6] - The investment strategy involves a diversified approach with three core teams: fixed income, innovation (REITs), and multi-strategy, focusing on various asset classes [6][9] - The company aims to differentiate itself from banks and public funds by seeking absolute returns rather than relative performance, utilizing derivatives and other strategies [7][10] Group 3 - The company is focusing on macro allocation and aims to become a specialized asset manager in this field, seeking excess returns through strategic asset allocation [10][12] - Current investment opportunities include precious metals like gold, agricultural products, and certain overproduced commodities, reflecting a cautious yet opportunistic approach [13][14] - The strategy emphasizes finding arbitrage opportunities across different asset classes, with a focus on macroeconomic conditions and market volatility [15]