Group 1 - Funds are suitable investment products for ordinary people [2] - The article suggests that new investors should consider what type of funds are most appropriate for them [2] - It emphasizes the importance of psychological preparation before long-term investments [2] Group 2 - The article discusses the relevance of historical data when evaluating valuation percentiles [5] - It highlights that the choice of 3-year, 5-year, or 10-year data should depend on whether it covers extreme bear markets [5] - Specific examples of significant bear markets in A-shares are mentioned, such as the period from 2012 to 2014, which marked the lowest valuations for large-cap stocks [5]

Group 1 - The article emphasizes that funds are suitable investment products for ordinary people [2] - It suggests that new investors should consider specific types of funds and outlines the importance of psychological preparation for long-term investment [2] - A free course is offered to help new investors understand fund investment from scratch [2] Group 2 - When selecting fund managers, it is crucial to focus on experienced managers who have weathered multiple market cycles [6] - The first criterion for selecting experienced fund managers is their historical performance, with a long-term annualized return exceeding 15% considered excellent [8] - The second criterion is the length of their career, ideally measuring performance over at least one complete market cycle, such as 10 years [9] - The third criterion is experience in managing large funds, specifically those managing over 2 billion [10]

Group 1 - The article emphasizes that funds are suitable investment options for ordinary people [2] - It suggests that new investors should consider specific types of funds and outlines the importance of psychological preparation for long-term investments [2] - A free course is offered to help new investors understand fund investments from scratch, along with supplementary materials like course notes and mind maps [2] Group 2 - The article draws an analogy between investing and tree planting, highlighting the concept of "big and small years" in both fields [6] - It advises investors to be patient during downturns in specific industries or styles, similar to how one would care for a fruit tree during a small year [7] - The importance of diversified investment across different styles and industries is stressed to mitigate overall portfolio volatility and benefit from various market conditions [7]