#美联储降息政策 After reviewing QCP's analysis, the core logic is actually quite clear: the Federal Reserve may cut interest rates 2-3 times next year, which should be positive for risk assets, but the "discrepancy between AI investment's virtual and real value" is becoming a market time bomb.

Here is a key data point worth noting—if AI companies' revenue growth cannot keep pace with investment, the risk spillover could trigger a broader revaluation of stock market values by 2026. In other words, the seemingly stable AI boom now may only be temporary confidence support.

From a follow-the-leader perspective, this gives me a clear observation framework. In the short term, rate cut expectations will maintain market resilience, but long-term holders' risk appetite needs to be reassessed. I have recently been adjusting my strategy allocations, reducing aggressive follow positions in pure AI concept sectors, and instead locking in those with real revenue realization—this is a necessary move to avoid being buried by valuation bubbles during a rate cut cycle.

Also, pay attention to pressure in the crypto market; the MSCI index review could lead to $2.8 billion in passive fund outflows, which often triggers chain reactions. Experience tells me that before such nodes, the most important thing is to review the resilience of your positions, not chase the hot spots.

Rate cuts are coming, but don’t just look at the surface benefits. The underlying fundamentals will determine how far it can go.