Core Insights - The concept of "reflation" is central to understanding future investment opportunities, focusing on economic vitality and market confidence restoration [1][3] - Achieving reflation requires a collaborative effort between monetary and fiscal policies to revitalize economic activity and ensure long-term market health [3][19] Reflation Mechanisms - Monetary policy plays a crucial role in creating a favorable liquidity environment, which supports investment and consumption, thereby driving nominal output recovery [5][22] - Fiscal policy is essential for repairing balance sheets and "debt resolution," with rising asset prices being key to this process. Innovative approaches like "equity finance" can guide funds to support quality listed companies, enhancing their value [6][23] Investment Priorities in A-shares - Priority One: Focus on "hard assets" that can benefit from price revaluation, as asset price recovery is a core feature in a reflation environment [8][19] - Priority Two: Utilize "quantitative thinking" for calm value discovery, employing multi-factor stock selection models to systematically assess companies and avoid emotional trading [9][24] - Priority Three: Build a "multi-strategy" portfolio to adapt to market evolution, as a single strategy may not suffice across all market phases [11][25][26] Long-term Investment Perspective - Investment should be viewed as a warm companion through economic cycles, requiring insight and patience to navigate the complexities of market fluctuations [13][27]