Strategy! AI components account for 40% of the US stock market value, what does history remind us of? According to Bank of America data, AI related stocks have a weight of nearly 40% in the S&P 500. This ratio has appeared three times in history. In the "Beautiful 50" foam in 1972, the head stock accounted for about 40%, and then the US stock index fell by about 50% in stages. In 1990, the Japanese stock market foam accounted for about 44%, and then the Nikkei fell 63% within two years. In 2000, the Internet foam accounted for about 41%. After that, NASDAQ retreated by 78%. All three times have high concentration, high valuation, and high volatility. After three rounds, the market has undergone long-term adjustments. The current AI sector has a weight of nearly 40%, a high valuation, and significant fluctuations. It's not that AI has no future, it's that the current structure has never been comfortable for people to enter and exit in history. Then what should we do? My suggestion is super simple, with two paths: One is to maintain a fixed investment. Regardless of the high or low points, buying a fixed amount every week/month will spread the cost evenly over time. Even if there is a pullback later, regular investors have a much friendlier psychological tolerance than one-time Soha, while ensuring that they do not miss out. The second is to hold cash and wait for opportunities. Not buying now is not bearish, it's waiting for a more comfortable price. The market never lacks opportunities, what is lacking is that when opportunities come, you still have money in your hands. Buffett is currently holding nearly $400 billion in his hands, are we panicking? What are we panicking about? History does not repeat itself, but it rhymes. Maintain regular investment, hold cash, and wait for the wind to come.