In recent years, Duan Bin has been bullish on US stocks. With the disclosure of the fund's interim report, Duan Bin's funds' movements have come to light, appearing as one of the top ten holders of multiple US ETFs in the A-share market.
The interim report of the Invesco Great Wall NASDAQ Technology ETF shows that Dongfang Gangwan, a company under Duan Bin, has 4 products among the top 11 holders, with Dongfang Gangwan's far-sighted collective capital trust plan, Dongfang Gangwan Yuan group, Dongfang Gangwan Bright Minds No. 1, and Dongfang Gangwan Value Investment No. 7 ranking 3rd, 4th, 7th, and 11th respectively, with a total holding size of 0.308 billion yuan.
As of the end of the second quarter, a total of 9 products under Dongfang Gangwan held an accumulated fund size of over 0.7 billion yuan in the above-mentioned US ETFs.
Data shows that the top holdings of the NASDAQ Technology ETF, NASDAQ 100 ETF, and NASDAQ ETF are mostly dominated by various US technology stocks such as Microsoft, Apple, NVIDIA, Amazon, Google, and Tesla.
U.S. stocks continued to rise last Friday, with the Dow hitting an all-time high and the S&P 500 index rising for four consecutive months, nearing a historical high. However, the market has recently started to spread ghost stories, worrying about the September curse of the US stock market.
Wind data shows that September is often the worst-performing month for US stocks, with the S&P 500 index averaging a 1.2% decline since 1928.
From a data perspective, the market's concerns seem to be somewhat justified. In the past four years, US stocks have indeed experienced varying degrees of decline in September, with drops of 3.9%, 4.8%, 9.3%, and 4.9%, respectively.Regarding the September curse, well-known investor Dan Bin also expressed his views. Recently, Dan Bin posted a chat record on social media in which his friend was bearish on the US stock market. This time, he still remains bullish because he believes that artificial intelligence is still the strongest voice of the times, which is the "main reason", and everything else is just "secondary reasons".
Regarding the US stock market, Guosen Securities stated that the upward trend of the US stock market has slowed down significantly this week. The S&P 500 has formed a preliminary double top technical pattern, the Nasdaq 100 has barely held its 60-day moving average, and the Dow hit a new high. The market as a whole is showing a pattern of retreating to the large-cap value style and traditional industries. The above performance indicates that the volatility of the US stock market in the third quarter and even the second half of the year may not have ended yet, and the market's short-term concerns about the prices of technology giants may not suddenly disappear due to performance, but rather need time to slowly digest. Overall, our intrinsic income model shows that there is no significant valuation burden from a global perspective. Therefore, our long-term view on the US stock market has not changed, and we do not currently see any significant potential retreat in the short term.