来源：磐石之心 （图来自AI生成） 这几天市场不好，特别是今天4100多只股下跌。赚钱变得越来越难，不过对于【磐石论股】的球友来说，基本上躲过了大跌，逆势飘红。 这是因为我们提前止盈了高位股，布局了红利以及药等板块，做到了逆向投资，控制了回撤。 这说明，只要做好了布局，就能够战胜市场。只要能够做到普跌的时候少亏，甚至逆势上涨，就是极大的胜利。 很多读者买了股票，马上就想涨，只要股票一下跌就恐慌，甚至割肉。这也是为何很多人为何牛市里也亏钱的原因。 （知识星球上的提示） 之前记得我在知识星球上说过自己买了一只创新药股票，买完后盈利未走，后来持续下跌。也有一些球友跟着买了，遭遇浮亏。眼看着科创版大 红大紫，自己却亏钱，心里无比痛苦。 我也同样持股，甚至买得更多，为何不痛苦？主要有三个原因： 第一，这只股并非我全仓，只是其中之一罢了。均衡持仓，即使这只股短暂浮亏，不影响整体账户的收益。即使仍然有2只长线股浮亏，我账户在 今天仍然创出新高，就是得益于均衡配置仓位。 第二，对企业基本面有深刻认知。很多人买股，根本不知道企业做什么的。为何买入？听别人说的，或者看到都在追涨，所以买入。而我买入股 票，都是做了深入分析和研究， ...

白酒延续调整，食品景气分化 20251016 摘要 白酒板块延续调整态势，但四季度末酒厂追任务或带来支撑，大幅下跌 可能性较小。头部酒企出清进度偏慢，名酒如飞天茅台、普五等品牌在 双节期间动销良好，高端白酒和大众产品表现突出。 茅台价格回落后开瓶率提升，消费场景和人群扩大；普五价格下行后动 销优于竞品。预计 2026 年春节动销环比将继续修复，但品牌表现可能 出现分化。 苏酒市场竞争关注度提升，洋河新管理层改革务实，库存去化、价盘回 升。金水源动销相对较好，但库存有所增加。品牌势能恢复周期可能较 长，苏酒市场竞争格局值得持续跟踪。 大众品板块整体反馈较好，零食、饮料等子板块景气度较高。量贩零食 同店销售小幅下降，新开门店以省钱超市为主，有较大扩展空间。农夫 山泉和东鹏特饮呈现强者恒强态势。 娃哈哈事件影响下，包装水市场份额重新分配，为怡宝等公司提供了机 会。投资者应聚焦茅台、汾酒等龙头企业，以及珍酒、迎驾等率先出清 或有增量贡献的企业。 Q&A 今年秋糖会的参展企业、活动和投资者数量均明显减少，是近五年来热度最低 的一次。行业需求方面，虽然有观点认为需求已见底，但不会立刻恢复。茅台 批价在 1,700 至 1 ...

Core Viewpoint - The chairman of Lin Yuan Investment, Lin Yuan, has faced scrutiny due to underperformance of his funds compared to the CSI 300 index and expressed concerns about his investments in technology stocks, while maintaining a bullish outlook on the liquor industry, particularly regarding long-term returns from white wine investments [1][2][4][21]. Investment Performance - Lin Yuan's funds have underperformed the CSI 300 index, with all 18 disclosed products showing lower returns this year. The best-performing fund, Lin Yuan Investment No. 218, achieved a return of 15.36%, which is still below the CSI 300's 18.77% [4][6]. - Some funds, such as Lin Yuan Investment No. 21, have reported losses exceeding 10% in the past year, raising concerns about potential liquidation risks [4][9]. Investment Philosophy - Lin Yuan emphasizes a cautious investment approach, focusing on understanding the value of investment targets and calculating the payback period before making investments. He believes that holding liquor stocks for 12 years can yield returns that cover initial investments through dividends [12][18]. - The liquor industry is viewed as a sector that will not disappear, as it fulfills a "happy demand" that is expected to persist despite market fluctuations [14][19]. Market Outlook - The liquor industry is currently experiencing a downturn, with major brands like Moutai and Wuliangye facing stock price volatility. However, Lin Yuan believes that the industry's structure is stable and that the market will eventually recover [13][15]. - Lin Yuan does not plan to adjust his investment strategy in liquor stocks despite the current market challenges, as he continues to focus on leading brands [14][16]. Technology Investment - Lin Yuan has expressed discomfort with his passive investments in technology stocks, stating that the unpredictability of these investments has caused him significant stress. He maintains that he will not actively pursue technology investments unless he can clearly assess their financial viability [21][22]. - While acknowledging the importance of technology for future growth, Lin Yuan remains cautious due to the inherent uncertainties in the sector compared to more traditional investments like liquor [21][22].

Group 1 - The core viewpoint of the article revolves around Lin Yuan's recent challenges in the investment landscape, particularly regarding his investments in technology stocks and the performance of his funds compared to the CSI 300 index [2][4][6] - Lin Yuan expressed that he is currently facing difficulties with technology stocks, which have caused him sleepless nights, indicating a level of discomfort with the volatility and unpredictability of this sector [21][22] - Despite the underperformance of his funds, Lin Yuan remains confident in the long-term value of his investments in traditional sectors like liquor and pharmaceuticals, asserting that holding liquor stocks for 12 years could yield returns [13][19] Group 2 - Lin Yuan's investment philosophy emphasizes a cautious approach, focusing on understanding the value of investment targets and calculating the payback period before making investments [13][24] - The liquor industry, particularly, is viewed as a sector that can provide joy and satisfaction, with Lin Yuan believing that it will not disappear despite current market challenges [16][20] - The article highlights the performance of Lin Yuan's funds, noting that all 18 disclosed products have underperformed the CSI 300 index this year, with some experiencing losses exceeding 10% [6][8][10] Group 3 - Lin Yuan's strategy involves maintaining a focus on leading companies within the liquor industry, despite the recent downturn, as he believes the market structure is already established [16][18] - The article discusses the ongoing transformation within the liquor market, with companies attempting to attract younger consumers through new product offerings, although Lin Yuan remains skeptical about their success [20][21] - Lin Yuan's comments reflect a broader sentiment that while technology is a future direction, the uncertainty surrounding it makes it less appealing for proactive investment compared to more stable sectors like liquor [21][24]

（文章来源：证券日报） 证券日报网讯 10月16日晚间，皇台酒业发布公告称，公司控股股东甘肃盛达集团有限公司（简称"甘肃 盛达"）于2025年10月16日通过深圳证券交易所集中竞价方式增持公司股份28，900股，占公司总股本的 0.0002%，增持金额为人民币401，165元（不含交易费用）。本次增持后，甘肃盛达及其一致行动人持 有公司股份44，380，891股，持股比例已达到25.02%，增持总金额达到人民币60，001，153元，本次 增持已达到增持计划最低金额。 ...

中国证券监督管理委员会上市司一级巡视员毕晓颖就《筑牢上市公司可持续发展制度基石》为题发表演 讲。 此外，来自国际组织的代表、学界、金融界、商界等领域的重磅嘉宾悉数现身大会。《2049》作者、科 技预言家、《连线》杂志创始主编凯文·凯利（Kevin Kelly），Verimag实验室创始人，2007年图灵奖得 主约瑟夫·希发基斯（Joseph Sifakis）分享了AI与可持续发展的前沿动态；中国银行行长张辉，交通银 行行长张宝江，中国东方航空集团总经理高飞，中国贵州茅台酒厂（集团）有限责任公司总经理，贵州 茅台酒股份有限公司代总经理王莉等企业界来宾发表精彩演讲。 经国务院批准，2025可持续全球领导者大会于10月16日在上海市黄浦区拉开帷幕。本次大会以"携手应 对挑战：全球行动、创新与可持续增长"为核心主题，汇聚全球智慧力量，共探可持续发展新路径，为 全球可持续治理注入澎湃的"中国动能"。 本届大会由世界绿色设计组织（WGDO）、新浪集团联合主办，国际财务报告准则基金会（IFRS Foundation）北京办公室协办，新浪财经和世界绿色设计组织北京代表处承办，上海市黄浦区人民政府 支持。 世界绿色设计组织主席 ...

1、配置比例：25Q3，陆股通持有A股市值由25Q2的2.27万亿元增加至2.59万亿元，占A股流通市值之比由25Q2的2.79%下降至2.69%。 2、行业结构：25Q3陆股通对电子、电力设备、有色金属、机械设备、通信的配置比例提升较大，分别提升4.96/4.88/1.21/1.14/0.65pct，对电力设备、电 子、医药生物、银行、食品饮料配置比例居前。 3、一级行业净流入：25Q3陆股通对电子、电力设备、机械设备、农牧、建材净流入较多，对银行、非银、食饮、公用事业、交运净流出较多。 4、二级行业净流入：25Q3陆股通对电池、光学光电子、光伏设备、通用设备、元件、消费电子、通信设备净流入较多，对国有大型银行、白酒、股份制 银行、电力、证券、保险、乘用车、白电、通信服务净流出较多。 5、重仓股：25Q3，宁德时代、贵州茅台、美的集团、招商银行、北方华创为陆股通前五大重仓股。与205Q2相比，前20大重仓中新增立讯精密、阳光电 源、工业富联、中际旭创、澜起科技，同时国电南瑞、豪威集团、工商银行、伊利股份、农业银行退出前20大重仓。 智通财经APP获悉，兴业证券发布研报称，25Q3，陆股通持有A股市值由25Q ...

今日A股三大指数涨跌不一，沪指微涨0.1%，维持在3900点上方。板块题材方面，保险、煤炭开采加工、港口航运、银行、白酒、中药板块涨幅居前，小金 属、钢铁、风电设备、稀土永磁、PEEK材料概念股跌幅居前；港股全天分化，创新药方向延续涨势，科技股多数下跌。 截至收盘，中证A500指数下跌0.04%，沪深300指数上涨0.3%，创业板指数上涨0.4%，上证科创板50成份指数下跌0.9%，恒生中国企业指数上涨0.1%。 创业板大盘宽基: 创业板ETF 跟踪创业板指数 该指数由创业板中市值大、 流动性好的100只股票组成, 战略新兴产业占比较高,电 力设备、通信、电子行业合 计占比近60% � 该指数 科创板大盘宽基:科创板50ETF 跟踪上证科创板50成份指数 该指数由科创板中市值大、流 动性好的50只股票组成,"硬 科技"龙头特征显著,半导体 占比超65%,与医疗器械、软 件开发、光伏设备行业合计占 比沂80% �l 该指数 每日经济新闻 港股大盘宽基:H股ETF ...

Market Overview - The trading volume has decreased again, falling below 2 trillion, indicating a tense market situation with a significant number of stocks experiencing declines after a previous rise [1] - The market sentiment is low, with most sectors, including storage chips, liquor, and resource stocks, showing poor performance today [1] - Historical trends suggest that market opportunities often arise unexpectedly, even when sentiment is low [1] Key Levels and Expectations - The index has managed to hold above the 3900-point level, which is seen as significant for future market movements [1] - Upcoming events, such as a major conference next week and a meeting in South Korea regarding tariffs, are anticipated to influence market dynamics positively [1] - The focus remains on solidifying the 3900-point level, with the next target being 4000 points [1]

证券日报网讯 10月16日晚间，天佑德酒发布公告称，公司控股股东青海天佑德科技投资管理集团有限 公司在中国银河证券股份有限公司办理了股票解除质押业务，解除质押股份数量为14，500，000股，占 其所持股份比例7.27%，占公司总股本比例3.03%。 （文章来源：证券日报） ...