CICC Wealth Futures: The market is currently in a frenzy stage of "rewarding input regardless of returns."

South Korea’s large-scale investment in memory chips—spreading even to the entire industrial chain—is a snapshot of the AI boom. The market is still in a frenzied phase of “rewarding investment regardless of returns.” We’ve been through similar scenarios countless times; most recently, it was the crazy silver price action. In this kind of market phase where “sentiment fully dominates and basically fails,” the strategy should be adjusted to: follow the market, don’t try to guess the top, but be sure to set take-profit and stop-loss levels. (CICC Wealth Futures)
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