Core Viewpoint - The article discusses the decline of once-prominent investment figures in the face of a booming market, highlighting their struggle to adapt and maintain performance amidst changing market dynamics [1][3][4]. Group 1: Performance of Investment Managers - Many once-celebrated investment managers, such as Lin Yuan and Dan Bin, have seen their funds lag behind the market, with Lin Yuan's products experiencing significant declines while the CSI 300 index rose by 15.50% over the past year [7][10]. - Lin Yuan's investment strategy has led to a "perfect" miss of the market rally, particularly after the second quarter of this year, as his funds moved in the opposite direction of market trends [10][12]. - The performance of Lin Yuan's funds has been characterized by a heavy reliance on traditional consumer stocks, which have underperformed compared to emerging sectors like AI and technology [14][15]. Group 2: Investment Philosophy and Strategy - Lin Yuan's investment philosophy emphasizes long-term holding and a focus on traditional sectors, which has resulted in a significant underperformance relative to the market [18][19]. - His commitment to sectors such as food and beverage, despite their recent struggles, reflects a belief in their long-term value, although this has led to substantial losses in his portfolio [15][19]. - Lin Yuan's reluctance to invest in technology stocks stems from a lack of confidence in predicting future market leaders, indicating a cautious approach to emerging trends [19][20]. Group 3: Market Dynamics and Challenges - The article highlights the dilemma faced by investment managers who adhere to traditional strategies in a rapidly evolving market, where failure to adapt could lead to further declines in performance [21][22]. - The historical context of investment managers like Lin Yuan and Dan Bin illustrates the risks of sticking to outdated investment philosophies during periods of market transition [25][29]. - The ongoing divergence between traditional investment strategies and current market trends poses significant challenges for these managers, as they risk being left behind in a changing landscape [26][27].