Core Viewpoint - The article highlights the investment philosophy and strategies of Guo Kun, a balanced growth-style fund manager, who focuses on long-term sustainable excess returns through industry diversification and selective growth stock picking [1][3][8]. Investment Strategy - Guo Kun employs a "balanced investment style" that does not require precise market timing or sector rotation, making it suitable for ordinary investors [1][10]. - His investment framework consists of three layers: position management, asset and industry allocation, and internal comparisons within growth sectors [8][9]. - The core of his strategy is to maintain a stable position around 85%, adjusting only slightly in extreme market conditions [8]. Performance Metrics - Historical data shows that Guo Kun's managed portfolios consistently rank in the top 30%-40% of the market, with some periods in the top 10% [1][10]. - Over the past five years, funds like Changsheng Manufacturing Select have achieved net value growth rates between 10%-20%, outperforming most short-term champions [1][10]. Market Outlook - Guo Kun holds an optimistic view of the market towards 2025, identifying AI and innovative pharmaceuticals as key investment areas [2][11]. - He believes the current bull market is driven by a solid economic foundation, ongoing liquidity, and strong industrial momentum, particularly in AI [11][12]. Sector Focus - The focus on AI encompasses various sectors, including communications, electronics, media, and computing, with an emphasis on applications rather than just upstream capabilities [12]. - The innovative pharmaceutical sector is highlighted as a strong performer, with significant growth potential despite recent price increases [13]. Team Collaboration - Guo Kun emphasizes the importance of team collaboration in enhancing research capabilities, implementing a multi-tiered research discussion system to keep information current [7][4]. - The team’s synergy has led to the identification of high-quality stocks across various sectors, contributing to the overall success of the investment strategy [6][4].

堃式风格基本面投资成行 作为一名偏成长风格的均衡派基金经理，郭堃的投资实力建立在十多年的投研积淀与持续进化的能力 圈之上。 近年来，随着 A 股结构性行情持续演绎，市场上涌现出越来越多的赛道型基金经理。他们通过集中 押注一两个高景气度赛道，获取行业贝塔，短期业绩极具爆发力。 郭堃则是一名偏成长风格的均衡派选手，他凭借十多年的投研积淀，以行业均衡为盾，以成长精选为 矛，在稳健中追求长期可持续的超额收益。 历史数据显示，郭堃管理的组合每年业绩不冒尖亦不落后，排名相对稳定，每年差时也位于市场前 30%-40% 之间，好的时候在前 10% 。积小胜为大胜，稳定累积的复利效应显著。以长盛制造精 选为代表的多只基金五年净值增长率稳居 10%-20% 分位，跑赢大部分短期冠军。 这就像是 " 马拉松选手 " 的验证：单年冠军常有，而十年王者罕见。他的目标是让持有者每个阶段 都不太难受，五年后回头发现已领先大多数人。 在郭堃看来，对于缺乏专业能力的普通投资者而言，均衡投资风格的产品无需预判市场风格或行业轮 动，不用精准择时，可以避免 " 暴涨暴跌 " 冲击，长期持有体验优化，更适合作为 " 压舱石 " 配 置。 站在 202 ...