The valuation of E Fund's emerging growth flexible allocation hybrid fund (code 000404, medium and high risk) is calculated according to the top ten awkward stocks in the fourth quarter of 20 14 announced by the fund. The top ten awkwardness stocks published in the quarterly report of the fund show the holdings at the end of the quarter, which is obviously lagging behind. Because the fund manager may change positions, the fund valuation will be quite different from the actual situation. In fact, unless the real-time stock position of the fund is known, the valuation of the fund is unlikely to be accurate (very unrealistic).