Is it better for the fund to increase or decrease its position at the end of the year? There is no uniform answer and practice to this question because there is no same trend in history. For example, a spring market that started with 19 and 1 rose sharply in the spring, and the market rose by nearly a thousand points. /kloc-adding positions at the end of 0/8 is definitely a good thing, because it will catch up with the Spring Festival market at the beginning of the year. However, if we look back at the end of 17, we will increase our positions at the end of 17, and 18 will start a big correction in February. This callback will last until the end of the year, up to a year. Therefore, in fact, for investors, it is not necessary to increase or decrease positions accurately according to the timeliness of each year, because they may make money in one year and may not know next year.