It's simple! First of all, once the fund is reduced and sold in the secondary market, the stock price will often fall sharply, and it is difficult for retail investors to appear, resulting in huge losses. Secondly, the fund is limited by the fund contract and regulatory laws, and the holding ratio will not be too high, so it is difficult to raise the stock price alone. Finally, every fund will be wary of other funds reducing their holdings, and when there is any trouble in the market, they will run away desperately.