There are two kinds of investors, one is defensive investment and the other is offensive investment. The first goal of defensive investment is to avoid major mistakes and heavy losses, with emphasis on defense. Generally speaking, a large amount of funds will lower the requirements for the rate of return, focusing on the safety of funds. For example, children with tens of millions of idle funds prefer bank trust products, although its average income may only be about 7% per year. Some people may say that the 7% yield is too low. But everyone has a blind spot of funds, and it is impossible to do well in all fields. The post-70 s and post-80 s are the richest groups. Many of them earn hard money and are not very familiar with the field of financial investment. For them, what they hear most may be who lost money in stock trading, who lost everything in futures and so on. For them, the most important thing in investing is to ensure that the principal is not lost first. Occasionally, they will feel very happy if they realize the annualized income of 10% according to the fund bought by the bank account manager. Although many banks buy funds at a higher cost, these people don't know, so they don't feel it. It all happened around us. For defensive investors, there is no need to pay close attention to the market often, and broad-based index funds may be more suitable for them, such as the common Shanghai and Shenzhen 300, SSE 50, and China Securities Investment 500. The advantage is that there is generally no big loss, and the disadvantage is that the income is relatively low. The income is relatively low or depends on the market. Last year, the income of Shanghai and Shenzhen 300 was OK. Last year, the Shanghai and Shenzhen 300 Index rose by 27%. If you see that the earnings of the Shanghai and Shenzhen 300 last year were not bad, it would be a pity to relocate this year. Investing in broad-based index funds requires great patience. Generally speaking, fighting inflation is the main purpose of investing in it. If the amount of funds is relatively large and the requirements for income are not high, you can consider making defensive investments.