恒指正处在一种“奇妙”的波动当中。低估反弹,瞬时拉高,极速回调。这些变化集中在一条曲线上,让市场无所适从。但事实上,所有的趋势一定总是以长期为锚。这个长期的尺度,可能会超过一般人的预估。因为中间需要经历很长的传导链。就好像AI掀起了二级市场热潮,但AI其实已经为此积累了几十年的技术。一个时代有一个时代的热点,它的背后是生产力,是投资机会。要抓住这个机会,需要从现象出发,推导出产业的幕后支持因素。在...
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