私募大佬但斌最近热度不断，前脚刚就2024年"9·24"行情判断向任泽平致歉，承认确实是牛市，为这场持续近两年的多空之争画上句号；后脚就被财经大 V腾腾爸揪着业绩不放，公开叫板质疑。 日前，腾腾爸发微博表示："但总旗下私募基金，最近三年（2023-2025）综合收益大约140%+，表现确实不错。但2021-2022连续两年大幅回撤。2021年 我没找到数据，2022年有报道称大约回撤了45%。也就是说，但总基金最近5年，先来了个腰斩，又上涨了140%+，5年总体收益大约20%+。年化不到 5%。" 质疑之余，他还拉出日斗投资董事长王文的业绩作对比："百亿规模基金，最近5年王文总旗下基金总体收益220%+。这个是真厉害了。" 文末，腾腾爸还故作疑问补了一句"我计算的对吗？" 司机在这里直接给出答案：大错特错！腾腾爸连最基本的业绩数据都算错，这根本就是拿着错误数 据碰瓷大佬的流量闹剧！ 2021年但斌的收益数据，腾腾爸称"没找到"，但司机从权威媒体报道中查到：私募大佬但斌管理的产品在2021年确实大幅亏损，东方港湾旗下超90只产品 2021年亏损超10%。 但斌本人也曾坦言："从业29年，2021年算经历了又一次 ...

Core Viewpoint - The "Double Eleven" shopping festival has been marred by price fraud, with platforms and merchants employing various tactics to manipulate prices, leading to consumer dissatisfaction [1][2]. Group 1: Price Manipulation Tactics - Some platforms have engaged in "price fraud" by adjusting rules, resulting in practices like "price hikes followed by discounts" and other deceptive strategies [1]. - Consumers have reported issues such as sudden price increases on unpaid items and default settings that do not apply the best discounts, leading to confusion and frustration [1]. Group 2: Impact on Competition - The competition logic has become distorted, with sales rankings influencing resource allocation and flow support becoming essential for survival, turning the shopping festival into a "traffic battlefield" [2]. - This environment encourages some merchants to resort to price fraud as a means to balance costs and profits, risking their brand reputation and putting honest merchants at a disadvantage [2]. Group 3: Regulatory Response - Regulatory bodies have begun to take notice, issuing consumer advisories to promote rational and informed shopping practices ahead of the festival [2]. - However, mere advisories are insufficient; there is a need for comprehensive regulatory measures to address price fraud effectively [2]. Group 4: Recommendations for Improvement - Platforms are urged to create clearer and more reasonable discount rules, while merchants should focus on improving product quality and after-sales service rather than short-term traffic gains [2]. - A shift away from short-sighted profit strategies towards genuine consumer benefits is necessary for the long-term success of the "Double Eleven" festival [2].

Core Viewpoint - The article discusses the ongoing "0 yuan purchase" promotional activities led by major instant retail platforms like Meituan, Alibaba, and JD, highlighting the intense competition and the resulting consumer excitement, while also raising concerns about service quality and long-term sustainability for businesses and platforms [1][8][11]. Group 1: Market Dynamics - The "0 yuan purchase" promotion has created a bustling market atmosphere, with consumers enjoying significant discounts on food and beverages [1][3]. - Major platforms have reported record-breaking order volumes, with Taobao Flash Sale and Ele.me surpassing 80 million daily orders, and Meituan reaching 1.5 billion orders as of July 12 [6][8]. - The promotional activities have led to a surge in orders for various food and beverage brands, creating a unique scene in stores overwhelmed with orders [6][8]. Group 2: Consumer Experience - Many consumers have shared their excitement on social media, showcasing the benefits of the "0 yuan purchase" promotions, which have allowed them to enjoy multiple items at minimal costs [3][6]. - However, some consumers have reported issues such as reduced portion sizes and longer wait times for orders, indicating a decline in service quality amidst the promotional frenzy [8][9]. Group 3: Business Challenges - Businesses are facing a dilemma; participating in the subsidy wars can lead to increased visibility but often results in minimal profit margins, as they bear a significant portion of the discounts [9][10]. - The CEO of a restaurant management company expressed concerns that the heavy reliance on subsidies is detrimental to the long-term viability of businesses, as it shifts consumer behavior away from dining in restaurants [9][14]. Group 4: Long-term Sustainability - Industry experts are questioning the sustainability of the current promotional strategies, suggesting that platforms need to transition from a subsidy-based model to one focused on service quality and customer loyalty [11][13]. - There is a consensus that achieving a balance between the interests of platforms, merchants, delivery personnel, and consumers is essential for sustainable development in the industry [14].