I heard that fundamentals are no longer important? At the end of last year and the beginning of this year, it was not clear from a technical perspective that Micron could rise above 1000, but the fundamentals could be calculated. There is no such thing as black and white in secondary investment, each with its own advantages. Why do some people think that 'fundamentals are no longer important'? In fact, it is an amplification of short-term market phenomena and emotions: 1) Short term: Funds, emotions, narrative (AI hype), thematic speculation, and quantitative capital clustering can cause stock prices to deviate significantly from fundamentals in the short term. When it rises, it's crazy; when it falls, it's also crazy. In this case, the short-term cannot be determined by fundamentals. 2) And the medium and long-term fundamentals remain the ultimate anchor. Whether profits can be realized, whether cash flow continues to improve or deteriorate, and whether the competitive landscape is better or worse, these are the true baton that determines the long-term trend, It's not either black or white, and there's no need for this to change. The combination of fundamentals and technology is also better. 1) The fundamentals determine what to buy (direction and reasons for holding and increasing positions) - find companies with real growth drivers, moats, and reasonable valuations. Not all AI concept stocks are worth buying, it depends on who can truly turn demand into profit and cash flow. 2) The technical aspect determines "when to buy/sell, how much position to hold" (timing and risk control), trend tracking, moving average system, trading volume, support resistance, RSI/MACD, etc., to avoid heavy positions in obvious weakness. Stocks with good fundamentals can increase their positions if their technical performance shows a bottoming out and a breakthrough in volume; When the high position is too strong, technical measures can also be used to reduce or hedge positions. In fact, it can be said that: The fundamentals can reveal the overall logic in advance; Technically, I am better at tracking trends and controlling risks. Combining the two will make it more effortless. And more importantly, live long enough to ensure that you don't get off the table and can continue to earn money.