封面新闻记者 姚瑞鹏 朱珠 胖东来黄金柜台前的人群推推搡搡，来自江苏、北京、西安等地的消费者拖着行李箱在河南许昌胖东来商场排起蜿蜒长龙，一位西安游客边等边看时间， 她已经排了三个小时。 近期，胖东来黄金销售区的日常景象，黄金首饰柜台前人山人海，不少外地消费者专程前来购买黄金。这种现象背后的核心原因在于其透明的价格机制 ——工艺费一口价仅25元，甚至部分款式无工艺费，而传统金店的工艺费通常按克计算，最高可达百元以上。 跨省排队与抢购狂潮 "从外省过来也愿意" 早上9点的胖东来时代广场店门前，早已排起蜿蜒长龙。许多人早上6点就在这里等候，还有不少外地游客连夜驱车赶来。来自辽宁的李梦婷是其中一 员："我昨天就到了许昌，住在离时代广场店最近的酒店，想着近水楼台先得月。" 广播里循环播放着商场内超市、茶叶、珠宝等各个区域的入场提示。每隔几米就有身着红色马甲的工作人员维护秩序，并向排队的顾客现场答疑。来自西 安的一位游客向记者坦言："我们一年要来两次，搭上油费、住宿费也愿意来这买。"这些人基本都奔着买金子而来，尤其是冲着足金产品零工艺费的优惠 力度。现场不少顾客表示，相比本地金店每克动辄上百元的加工费，这里不仅价格透明， ...

Core Viewpoint - Ray Dalio, founder of Bridgewater, believes that the multi-strategy hedge fund model sweeping Wall Street may not have a long-term future due to its reliance on small, dispersed teams that struggle to establish stable, long-term relationships [1][3][4]. Group 1: Multi-Strategy Hedge Fund Model - The multi-strategy hedge fund model has seen a surge in popularity, with notable figures like Bobby Jain and Michael Gelband launching their own funds [4]. - Major players in this space, such as Millennium Management and Citadel, have been operational for about 35 years, managing assets of over $81 billion and approximately $71 billion, respectively [4]. - These funds typically allocate capital to dozens or even hundreds of "pods" (investment teams), each focusing on specific market segments, which allows them to achieve stable returns across various market conditions [4]. Group 2: Risks and Challenges - The multi-strategy model is not without risks, as regulators are increasingly scrutinizing the high leverage used by these funds and the potential for "liquidation cascades" [5]. - Dalio emphasizes that the "segregated" approach of having many small teams can hinder the development of deep relationships among employees, affecting stability and competitiveness [5][6]. Group 3: Bridgewater's Culture and Performance - Bridgewater is known for its unique corporate culture, which Dalio has shaped through principles of "extreme honesty" and "extreme transparency," encouraging open disagreements and employee evaluations [8]. - The current CEO, Nir Bar Dea, has taken steps to moderate some of the more unusual practices within the company culture and has made adjustments to leadership and personnel structures [9]. - Bridgewater's flagship macro fund is projected to achieve its largest annual gain since 2010, with a 26.4% increase in the first nine months of the year [10].