Core Viewpoint - The article emphasizes the investment strategy of Wu Qiong from Hive Fund, focusing on identifying high-growth sectors and stocks that can deliver "superior-than-expected" performance, particularly in emerging industries like AI and robotics [3][4][9]. Investment Framework - Wu Qiong's investment framework revolves around the "superior-than-expected" factor, where he identifies sectors with high growth potential and selects stocks that are likely to outperform expectations [3][7]. - A quantitative model is utilized to enhance efficiency and precision in stock selection, allowing for a clearer investment strategy [8]. Focus on Emerging Industries - The article highlights Wu Qiong's focus on emerging industries, particularly AI computing power, humanoid robots, and innovative pharmaceuticals, which are seen as having significant long-term growth potential [4][10]. - The AI industry, especially the upstream computing power segment, is identified as having strong performance potential, with expectations of continued growth through 2030 [9]. Market Dynamics and Adaptability - Wu Qiong stresses the importance of continuous learning and dynamic adjustment in investment strategies to adapt to changing market conditions [5]. - The integration of macroeconomic analysis with industry and company-specific research is emphasized to enhance decision-making robustness [5]. Growth Stock Performance - Historical data suggests that growth stocks tend to perform exceptionally well during the early stages of industry development, driven by high growth expectations and significant earnings elasticity [6][9]. AI Applications and Market Potential - AI applications are categorized into four types, with a focus on humanoid robots and integrated hardware solutions, which are expected to catalyze market growth once commercial viability is achieved [10]. - The article notes that while AI applications may take longer to realize their potential, they possess significant elasticity and growth opportunities once foundational infrastructure is established [9][10].