Hello, the current stock market has shrunk by more than 60% compared with its peak in 2007. The Shanghai and Shenzhen stock markets fluctuate repeatedly at a low level, and many research institutions, including our fund trading network research institute, believe that the medium and long-term bottom is very close. Moreover, the price-earnings ratio we often mention has dropped to 19 times, and the A-share market is seriously underestimated. Absolute valuation and relative valuation, vertical comparison and international comparison all show that the current A-share market has investment value. The reasonable value center of A-shares is 3 100 of Shanghai Composite Index. Another is that although our macro-economy has encountered some problems, there is no sign of deterioration in all aspects, but the macro-control effect is obvious. In this case, the investment value of the current stock market is highlighted. Although the stock index will not enter the rising space immediately due to the lack of investor confidence and concerns about the size, the falling space alone is extremely limited, and the rebound is worth looking forward to. Guangfa Jufeng's recent performance has declined, and the decline is not obvious now. If you plan to invest for a long time, it is recommended not to rush to redeem it. Harvest ultra-short bond and money fund are both highly liquid investment products, which can play a good hedging role, but the income is very low, and the difference between them is not obvious. In short, these two types of funds are not suitable for long-term holding.