Where AI Value Lies: Insights from 'Smart Money' Contrarian Bets

The data from Gongmu Paipai Wang is interesting: among all active equity funds in the market that have been operating for over five years, there are virtually none that achieved a net value increase of more than 50% over the past five years while keeping maximum drawdown within 3%. This number itself proves that sustaining excess returns amid cyclical fluctuations is essentially not about timing the market, but about the depth of understanding regarding industrial fundamentals.