**Asset Allocation Experience Sharing: Go with the Trend, Beware of Risks**

1. **Grasp the Core Logic**: Focus on macroeconomic cycles and policy trends. During the economic recovery period, moderately increase the allocation of equity assets, and during inflationary periods, emphasize anti-inflation assets.

2. **Diversified Allocation, Dynamic Balance**: Avoid excessive concentration on a single asset. Adjust the ratio in a timely manner according to market heat to reduce volatility risks.

4. **Policy Sensitivity and Contrarian Thinking**: When signs of easing policy retreat or tightening regulation appear (such as interest rate hike expectations), reduce allocation to high-leverage assets in advance; explore opportunities when the market is overly pessimistic.

5. **Liquidity Management**: Retain some cash or short-term debt assets to cope with market black swan events while reserving space for buying at lower levels.

**Summary**: The logic behind asset appreciation is complex and requires a multi-dimensional judgment combining macro, industry, and valuation aspects. Avoid blindly chasing gains, adhere to disciplined investment and risk control, and one can traverse cycles.