文 | 银行螺丝钉 （转载请注明出处） 大中小盘股下跌，中小盘股下跌稍多。 价值风格整体下跌； 成长风格中，创业板指略微上涨。 市场还是风格轮动的。 10-11月，成长风格下跌超15%，价值风格下跌约5%上下。 到了12月，成长风格这几天比较强势，价值风格低迷。 风水轮流转。 港股今天也下跌。 波动比A股还大一些。 今天下跌后，港股科技、恒生科技也重新回到低估。 今天大盘整体下跌，截止到收盘，还在4.2星。 目前处在刚进入低估的位置。 1. [大吉大利，今天吃基] 第393期的螺丝钉定投实盘来啦。 时间：2025年12月9日 方案：定投买入 品种： 指数增强投顾组合： 回到正常估值，暂停定投，继续持有。后面回到低估后继续。 主动优选投顾组合：9553元 月薪宝投顾组合：10000元 最近市场上涨，本周发车金额有所降低 。 本周： · 指数增强组合回到正常估值，暂停定投，继续持有。后面回到低估后继续。 · 主动优选组合正常定投。不过主动优选距离正常估值也不远。 · 增加月薪宝组合投资，月薪宝底层是40%的股票+60%的债券。 月薪宝本身自带「低买高卖」的股债再平衡策略，自带止盈。本身波动风险小，比较稳健的参与市 ...

Group 1 - The core argument of the article is that while index ETF dollar-cost averaging (DCA) is a popular method for novice investors, it has limitations that can lead to significant losses if not managed properly [3][5][7] - DCA primarily serves to smooth out buying costs and reduce timing risks rather than to enhance expected returns [9][12] - The article emphasizes that many investors tend to enter the market at high points, which can lead to losses despite the overall market rising [10][11] Group 2 - DCA helps mitigate the risks associated with market volatility by allowing investors to buy in increments, thus avoiding the pitfalls of investing a large sum at a market peak [12][13] - Research indicates that DCA investors have a lower rate of loss or redemption compared to those who invest a lump sum, leading to returns that are closer to the index itself [14] - The article suggests that DCA can be improved by adjusting investment amounts based on market conditions, such as increasing contributions when prices are below the annual average [16][18] Group 3 - The article discusses the diminishing effectiveness of DCA over time, as the ratio of incremental investments to existing investments changes, making the cost-averaging effect less significant [25][26] - To maintain the benefits of DCA, investors are encouraged to either increase their investment amounts or integrate DCA funds into a broader asset management strategy [27][28] - The concept of asset allocation is introduced, highlighting the importance of diversification to manage risk effectively [30][35] Group 4 - The article concludes that DCA is suitable for incremental funds, while asset allocation strategies should be prioritized for existing wealth, especially for high-net-worth individuals [36]