来源：市场资讯 作者 | 李白玉 如何利用市场波动，而非被市场波动利用？ 2025年即将收官。这一年里，95岁的沃伦·巴菲特正式宣布退休、结束对伯克希尔·哈撒韦公司长达60年 的掌舵，大概是全年投资日历中不能忽略的大事件。一个时代的投资传奇悄然谢幕，但他倡导并践行一 生的价值投资理念，却愈发闪耀出智慧的光芒。 从1965年接手市值仅470万美元的濒临破产纺织厂，到打造出市值万亿美元的投资帝国，巴菲特用一生 证明了价值投资的力量。伯克希尔股价累计涨幅超5.5万倍，年化复合收益率19.9%，这一业绩前无古 人，后面可能也很难有来者。 图源：罐头图库 在信息爆炸、市场情绪极易失控的今天，投资比以往任何时候都更需要冷静、耐心与远见。巴菲特的智 慧，或许能够带来一丝启迪。 来源 | 野马财经 这方面，基金评级是一个很好的评价标准，既是投资者筛选好基金的重要工具，又是基金公司、基金经 理投资行为的约束器。 利用市场波动 而非被市场波动所利用 巴菲特有句名言："短期来看，股市是一台投票机。然而，从长远来看，它是一台称重机。"这一认知构 成了巴菲特能够利用市场波动，而非被市场波动利用的基石。 在巴菲特看来，市场情绪波动是朋友 ...

Core Viewpoint - A rare occurrence of dividend distribution among growth-style active equity funds has been observed, with several funds announcing their first dividends of the year, indicating a shift in strategy and market conditions [1][2][3] Group 1: Dividend Announcements - Multiple active equity funds, including those from E Fund, have announced their first dividends of the year, allowing investors to choose between reinvestment or cash dividends [1][2] - The recent dividend distributions are notable as they come from growth-style funds, which typically focus on capital appreciation rather than income generation [3][5] - Funds like E Fund Kexun and Wanjiabj North Exchange Selection have reported significant year-to-date returns, with E Fund Kexun exceeding 100% [2][5] Group 2: Market Context - The decision to distribute dividends is attributed to the strong performance of growth sectors, particularly technology, which has led to substantial gains for fund managers [6] - The current market environment has seen a notable increase in the valuation of technology stocks, with the ChiNext 50 Index PE ratio reaching 157 times, indicating a high valuation compared to historical averages [6][7] - Analysts suggest that the distribution of dividends may serve as a strategy for fund managers to lock in profits and optimize portfolio structures amid high valuations and concentrated holdings in technology stocks [6][7]