#美联储降息政策 Recently, I came across a viewpoint that I think is worth sharing with everyone. Continuous capital inflows into the AI infrastructure sector indicate optimism about the future, but the problem is—these huge investments' return cycles may be seriously underestimated.

If AI companies' revenue growth cannot keep pace with investments, the risk will not be limited to the tech sector but will spread to the entire stock market. Once this valuation re-evaluation occurs, it could impact multiple parts of our investment portfolios.

This is why I have always emphasized the importance of position management. It's not about avoiding these sectors, but about asking yourself a few questions: Can I withstand 20%, 30%, or even larger fluctuations in this sector? Is my investment horizon long enough? Have I already achieved sufficient balanced allocation in other sectors?

The dovish tone of the Federal Reserve has given the market some breathing room, but this is not a signal for us to relax vigilance. On the contrary, during times when market confidence and caution coexist, we must adhere to allocation discipline even more. In the long run, investors who can maintain their resolve amid volatility are often the true winners.