crystal liu

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你有没有发现
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每当市场看起来最平静的时候
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往往是真正的暴风眼？
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最近全球金融圈发生了一件极不寻常的事
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没有媒体敢大肆报道
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也没有专家愿意正面解释
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但足以撼动整个资本世界的秩序
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就在你我还在看盘、刷数据、听分析师唱多的时候
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那些坐在世界顶端的金主们
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已经开始大撤退了
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不是减仓
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是清仓
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是17年、15年持仓级别的“资产逃离”
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谁在逃？
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为什么逃？
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逃向哪里？
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而你
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是否还在被蒙在鼓里
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成了被接盘的那一批？
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今天这期视频，我要揭开的
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是藏在美股大涨背后的资本大撤退
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而你，一定要看完
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不是散户，不是对冲基金
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而是那些被称为“世界背后的金主”的主权财富基金
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就在过去短短的一周内
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科威特投资局
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一家管理资产超过1万亿美元的全球第五大主权基金
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连续出手，砸盘两家全球金融巨头
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美国银行和友邦保险
1:00
金额之大、操作之隐秘、时间之紧凑
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让整个市场感到了前所未有的不安
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你知道吗？
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这两笔交易背后的逻辑
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可能会彻底改变你对全球金融格局的认知
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背后真相会让你不寒而栗
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为什么中东金主在这个节骨眼上选择清仓？
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他们到底发现了什么我们还没看到的危机？
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又是谁在接盘这场“静悄悄的逃离”？
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今天这期视频
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我们就来深挖这场由中东金主主导的金融撤退
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看看背后到底藏着怎样的资本博弈与战略转向
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我是飞飞
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一个在全球金融市场摸爬滚打了十几年的财经老兵
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今天的视频不长但非常关键
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他不会决定你能够赚多少钱
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但是会决定你会不会亏钱！
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如果你也想理清市场方向
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避开当前看不见的坑
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那么今天这期视频一定要收藏和看完！
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尤其是保守型的投资者！
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我们先看第一笔交易，爆炸点十足
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根据多家媒体报道
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科威特投资局在7月8日美东时间
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通过隔夜大宗交易的方式
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一次性卖出了价值31亿美元的美国银行股票
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交易价格为每股47.95美元
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注意
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这一价格比前一个交易日的收盘价还打了1.5%的折扣！
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而这笔交易
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仅用一晚就完成
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几乎没有任何市场预警
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与此同时
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美国银行股价应声下跌超过2%
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这可是华尔街六大行之一
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平时风吹草动都不多见
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结果被科威特这一出手直接砸出了“破位”
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而更加令人震惊的是
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这不是一笔短线投机交易
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而是科威特从2008年金融危机时期就开始持有的重仓资产
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当年次贷危机爆发
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华尔街奄奄一息
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美林证券急需输血
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科威特投资局果断出手注资20亿美元
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成为少数几个“白衣骑士”之一
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随后美林被美国银行并购
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这笔投资也变成了对美银的长期持股
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也就是说
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这笔仓位他们持有了整整17年
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为什么是现在卖出？
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要知道现在的卖出价47美元
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只比2022年的高点45美元多了2美元而已！
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这个时候突然砍仓，到底发生了什么？
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接下来的内容，你一定要听完
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不然可能会错过这波资金转移背后的真相
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但事情还没完
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就在美银交易的前几天
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另一笔交易更是重磅
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科威特投资局通过一系列大宗交易
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清仓了3.94亿股友邦保险
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交易金额高达268亿港元
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而我们要知道的是
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他们在2010年就已作为基石投资者参与了友邦IPO
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当时买入价格仅为19.68港元
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而此次卖出价是每股68港元
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涨了接近两倍半
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这是一笔妥妥的长期价值投资
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如今也被彻底了结
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连续两个长期重仓资产
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在同一周内全部砍仓出局
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这背后绝对不是巧合！
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如果你以为这只是普通的调仓
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那你真的低估了这场资本转移的深度
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后面我会揭露
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他们到底在换去哪类资产
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别急，这才刚刚开始
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要理解这两笔交易的真正意义
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我们必须回到2008年
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那场几乎令全球金融体系土崩瓦解的次贷危机
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当时的美林证券濒临破产边缘
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市场信心崩塌
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没人敢出手
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但科威特投资局站了出来
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以20亿美元认购其优先股
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这不是小钱
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而是危机时刻的“救命钱”
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是“白衣骑士”式的战略托底
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随后，美国银行出面收购了美林证券
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这笔优先股最终转成了美银的普通股
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也就成了如今被抛售的那一部分
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这一持仓，从2008年持有至今
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横跨三任美联储主席，两轮金融危机
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堪称是主权基金中“压舱石”级别的长期配置
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同样地，友邦保险的投资也不简单
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2010年，友邦从AIG分拆上市
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科威特投资局作为基石投资者之一
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豪掷77.5亿港元，拿下3.94亿股
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成为彼时港股市场上最重量级的海外投资者之一
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这部分仓位至今未变
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直到上周的清仓
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17年、15年
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两笔长期重仓同时告别市场
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说是“战略级撤资”也不为过
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这不是普通的调仓换股
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而这种‘静悄悄的离场’
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恰恰是普通投资者最容易忽视、但后果最严重的信号
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而问题来了
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到底是什么让他们决定离场？
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背后的真正信号
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中东金主的风向
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正在改变
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我们常说
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主权财富基金是“超级长钱”
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他们不追热点，不搞投机
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配置周期少则5年
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多则30年
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就像海水一样，表面风平浪静
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但一旦方向改变
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往往牵动的是整条全球资本链条
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从这次科威特投资局撤出美国银行与友邦保险来看
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他们似乎正在重新审视“传统金融资产”的战略地位
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虽然官方未透露具体调仓方向
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但飞飞注意到
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KIA 近年来已明显加大对
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“新兴技术、能源转型、战略资源”的配置比例
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包括参投半导体、氢能、电动车供应链等领域的私募基金
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据《彭博社》2024年底的统计
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KIA 在绿色能源与科技赛道上的权重已经超越传统金融
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而他们并不是孤例
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2025年以来
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我观察到多个中东主权基金在悄悄行动
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阿布扎比的穆巴达拉投资公司（Mubadala）陆续退出欧洲银行业
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同时加仓AI芯片公司Graphcore、光伏产业链龙头Suniva
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沙特PIF公共投资基金则在2024年底减持了汇丰银行、富通银行的股份
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同时重仓投资了美国氢能源基础设施
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阿联酋甚至成立了专门的数字资产战略基金
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布局美元稳定币Circle与全球支付网络
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中东金主们集体在做一件事
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“脱虚向实”
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不再满足于持有欧美金融系统的债权
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而是转向有产业、技术、能源控制权的核心资产
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你有没有发现，他们砍掉的
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是保守型投资者最信任的那些资产
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而买入的
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却是他们最厌恶的‘未来基建’？
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这背后，是全球金融周期的深层变化
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一，传统银行盈利模式承压
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利差空间被高利率+金融科技挤压
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二
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地缘政治对金融系统的中立性构成挑战
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西方监管的不确定性增加
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三
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新兴领域（AI、能源、资源）的资本回报率
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远超传统金融行业
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当连最古老、最稳健的那批“Old Money”都开始抽身离场
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意味着一个时代真的结束了
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银行不再是他们信任的港湾
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真正的大钱
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正悄悄转向能定义未来的新战场
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你可能还没注意到
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另一边的“新金融力量”正在悄然崛起
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那就是数字美元背后的基础设施公司
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尤其是刚刚在美股上市的稳定币巨头 Circle（CRCL）
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就是这场资本转向的典型代表
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Circle 作为 USDC 稳定币的发行商
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在 2025 年 6 月 IPO
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当日大涨 168%
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市值暴涨至 450 亿美元以上
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截至 7 月初
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Circle 股价累计上涨近 500%
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成为美股最强势的“新金融股”之一
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更夸张的是——这波押注Circle的
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不只是硅谷VC这类“新钱”
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背后还有中东主权基金、对冲基金
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甚至“老钱”中的代表人物
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你可以理解为
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Old Money + New Money 联手出击
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一起下注美元的数字化未来
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这才是最让人值得关注和思考的地方
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Circle 不是银行
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却可能控制未来美元的支付路径
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而中东金主、科技资本
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已经悄悄在布局
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在他们撤出美银、友邦的同时
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手却已经伸向了这些金融基础设施的“骨干股权”
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这，就是下一代金融秩序的雏形
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如果你是散户
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听到这你一定要打起十二分精神
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因为接下来要说的
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是直接清晰的告诉你你的对手盘是谁
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交易如果连自己的对手都不了解
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那么输就是注定的结局了
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我们继续深挖这两笔大宗交易的买方阵营
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到底是谁
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敢在这个时点接下中东金主抛出的数十亿美元筹码？
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从公开信息和成交方式来看
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美国银行这笔31亿美元的大宗交易
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很可能是被大型机构投资者
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特别是ETF指数基金与量化基金“被动接盘”
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为什么这么说？
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因为这类基金的买入逻辑并不是“看好”公司未来
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而是跟随权重、追踪指数
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属于典型的“系统性买盘”
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比如说
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如果标普500指数中的银行板块权重上升
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那这些被动基金就必须按比例增持
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无论价格高低、风险如何
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换句话说，他们的买入
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不是基于对银行基本面的判断
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而是“程序化机械动作”
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而在港股友邦的交易中，更是如此
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多家港股通基金、南向资金ETF
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被动指数配置基金纷纷在成交记录中现身
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同样地，他们买入
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是因为友邦在恒生指数中的权重较高
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是“不得不配”的选择
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这就形成了一个非常吊诡的局面
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真正理解风险的大资金，在默默撤退
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不明真相的散户，在追涨
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机制限制下的ETF基金，则被迫接盘
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表面上，这是一场正常的换手交易
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但如果你看得更深
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就会发现
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这是一次有计划的撤资行动
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而那些真正有判断力的资金正在离场
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留下的却是大量被动跟风的散户与ETF在接盘
10:49
更深一层的担忧在于
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主权基金的撤资，可能不是局部调整
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而是“结构性信心松动”的开始
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你可能还记得
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在2023-2024年间
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已经有越来越多的外资在减持美国国债
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中国、日本、比利时、卢森堡
11:05
持仓都在下降
11:07
而如今
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连美股中的“核心金融股”都开始被减持
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那美国金融体系的“信用锚”还剩下什么？
11:14
这可能会引发一连串连锁反应
11:17
一，金融机构股价下行
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市值缩水，信用收缩
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二，影响融资能力
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带款收紧，经济扩张受限
11:26
三， 导致监管进一步加压
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银行风险偏好下降，市场活力减弱
11:31
而这一切
11:32
已经在本周的两笔交易中悄然开始了
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市场总以为主权基金是“最后的压舱石”
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是“最不会出逃”的钱
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但当压舱石都开始挪动
11:43
整个船身的平衡还安全吗？
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这，不是危言耸听
11:47
留给普通人的“逃生时间”已经不多了！
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接下来我会讲一个很多人不愿面对的真相
11:53
为什么价值投资在今天的金融股上
11:56
已经彻底失效了
11:59
2022年加息开启以来
12:01
美银不仅股价持续低迷
12:02
更被巴菲特的伯克希尔悄然减持
12:05
但真正该担心的不是股价
12:08
而是这类银行股所代表的“价值投资信仰”正在被摧毁
12:12
过去
12:12
它们是稳定现金流和周期安全边际的象征
12:16
而现在
12:17
它们却越来越像政策工具
12:18
负担沉重、增长乏力的资本“陷阱”
12:22
这才是问题的核心
12:23
金融股跌了多少不关键
12:25
而是“它们凭什么还能涨”这个故事
12:27
已经开始讲不通了
12:30
传统的价值投资信仰
12:31
是建立在几个大前提之上的
12:33
盈利稳定、分红稳健
12:35
金融监管可预测
12:37
全球资本遵循“低估值-高分红”的安全套利逻辑
12:41
但今天
12:42
这些支撑逻辑正在一项项崩塌
12:45
全球政策不再稳定，货币体系在重构
12:48
连主权基金都不再愿意做金融系统的“信用背书者”
12:53
过去你可以安心持有银行、保险、地产龙头
12:57
靠时间和红利获得“结构性复利”
13:00
而今天
13:00
这些行业在估值上便宜
13:02
但在结构上正在被淘汰
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这不是价值低估
13:06
这是认知错配
13:07
你以为他们是暂时低潮
13:09
其实他们可能早就从核心资产
13:12
变成了边缘配置
13:14
更重要的是
13:15
这场撤资行为并不是被动响应市场情绪
13:18
而是主动性的资产迁徙
13:20
就连以稳健著称的主权基金、养老基金、央行外汇储备管理机构
13:26
现在也在调仓、再分配、再定价
13:28
听到这里
13:29
也许你心里还残留着焦虑与不安
13:32
但我要告诉你
13:33
情绪不会带来答案
13:35
认知才会改变结局
13:36
今天的视频里
13:37
我已经把整个资金迁徙的方向讲清楚了
13:41
哪些板块我们要极力避开
13:43
至于哪些领域值得埋伏
13:45
你心里应该有了初步判断
13:47
像银行、保险这类传统金融权重股
13:50
现在不是估值低
13:51
而是系统性失宠
13:53
而像Circle这类金融科技基础设施
13:56
能源转型核心标的、关键资源与数字货币桥梁资产
14:00
才是主权资金正在大举下注的方向
14:03
未来的结构性红利
14:05
就藏在这些‘你没研究过’的资产里
14:08
如果你还是不确定、不知道从哪里开始
14:11
那就点开评论区的置顶链接
14:13
免费加入我的投研圈
14:15
有投资或个股方面问题可以直接甩给飞飞
14:18
可以一对一给你答疑解惑
14:20
本周还会有翻倍布局
14:22
理论+实战验证
14:23
投资最怕的就是不清不楚
14:26
我们一起把这条路走得更明白一点
14:29
所以你看，今天我们讲的
14:30
不只是两笔看似普通的减持交易
14:33
而是一次资本秩序的根本转向
14:36
主权基金、稳定币、金融股、Circle、ETF……
14:40
这些看似互不相干的关键词
14:42
背后串联的
14:43
是一个你必须看懂的大局
14:45
旧系统在塌缩，新规则在浮现
14:47
这不是一次简单的“减仓”
14:49
而是一次从“防守”到“进攻”的转变
14:53
老钱在走，新钱在赌
14:54
最怕的就是——你既没跟着走
14:56
也没勇气下注，只能留在原地被收割
15:00
而接下来
15:01
市场不会留给你太多反应时间
15:03
等新闻出来，行情已经走完
15:05
等全市场都看懂，你也就被收割完了
15:09
所以该问的不是“还能不能买金融股”
15:11
而是
15:12
你的资产配置
15:13
是站在旧系统的尾巴上
15:15
还是站在新周期的起点上？
15:18
如果你不知道答案
15:19
那就来粉丝的投研圈里
15:21
我会持续拆解这些大资金的动向、主权基金的底层思维
15:26
尤其是Circle、能源、关键资源这些被“提前押注”的方向
15:30
方向确定后，怎么走才最关键
15:33
最近分享给大家学习的最新标的很多人都跟飞飞说特别好
15:38
有收获
15:39
这些都是投研圈公开分享可验证
15:42
只需小小订阅即可免费加入~
15:45
最后问大家一个问题
15:47
你现在还重仓银行股吗？
15:49
或者还在等机会介入？
15:51
在评论区留一个‘还在持有’或者‘准备换仓’
15:55
让我看看有多少人还没意识到这场悄悄的逃离已经开始了
16:00
如果今天的视频对你有所帮助
16:02
那么欢迎点赞订阅评论
16:04
我们下期视频再见！
0:00
Did you notice
0:00
Every time the market seems at its calmest
0:03
Often the real eye of the storm?
0:05
Now, something very remarkable has happened in global finance recently.
0:08
No media dared to report it
0:10
No expert is willing to explain it head-on
0:12
But it is enough to shake the order of the entire capital world
0:15
Just when you and I are still watching the market, swiping the data, and listening to the analysts sing a lot
0:19
The top gifters at the top of the world
0:21
The evacuation has begun
0:23
Not lighten positions
0:24
Is clearance
0:28
Who is at large?
0:29
Why flee?
0:30
To where?
0:31
And you
0:31
Are you still in the dark?
0:32
Become the batch that was taken over?
0:35
Today's video, I'm going to uncover
0:36
It is the capital retreat hidden behind the surge in US stocks
0:40
And you, you must read it
0:42
Not retail investors, not hedge funds
0:44
It is the sovereign wealth funds that are called the "top gifters behind the world"
0:48
Just in the past short week
0:50
Kuwait Investment Authority
0:51
The world's fifth largest sovereign fund with over $1 trillion in assets under management
0:55
In a row, two global financial giants were smashed:
0:59
Bank of America and AIA
1:00
The large amount of money, the secrecy of the operation, and the compact time
1:04
Let the whole market feel unprecedented unease
1:07
And you know what?
1:08
The logic behind these two transactions
1:10
It could revolutionize your understanding of the global financial landscape
1:14
The truth behind it will make you shudder
1:16
Why did the top gifter in the Middle East choose to clear at this juncture?
1:20
What have they discovered that we haven't seen?
1:23
Who is taking over this "quiet escape"?
1:27
Today's video
1:28
Let's dig deep into this financial retreat led by top gifters in the Middle East
1:32
Let's see what kind of capital game and strategic shift are hidden behind it
1:36
I am Feifei
1:37
A financial veteran who has been working in the global financial marekt for more than ten years
1:41
Today's video is not long but very critical
1:43
He doesn't decide how much money you can make
1:45
But it will determine whether you will lose money or not!
1:48
If you also want to clarify the direction of the market
1:50
Avoid currently invisible pits
1:52
Then today's video must be collected and watched!
1:55
Especially conservative investors!
1:57
Let's take a look at the first transaction, which has a lot of explosive points.
2:00
According to multiple media reports
2:02
The Kuwait Investment Authority announced on July 8, Eastern Time
2:05
By blocking trading overnight
2:07
Sold $3.10 billion worth of Bank of America stock
2:11
Trading price is $47.95 per share
2:14
Attention
2:14
This price is also 1.5% off the previous trading day's closing price!
2:19
And this deal
2:20
Completed in just one night
2:22
There is hardly any market warning
2:24
At the same time
2:25
Bank of America shares fell more than 2%.
2:28
It's one of the big six on Wall Street.
2:30
It's rare to see wind and grass
2:32
As a result, Kuwait's move directly smashed the "broken position".
2:36
And what's even more shocking is
2:38
This is not a short-term speculative trade
2:40
It is the heavy holdings of assets that Kuwait has held since the 2008 financial crisis
2:45
The subprime mortgage crisis broke out that year
2:47
Wall Street is dying
2:48
Merrill Lynch urgently needs a blood transfusion
2:50
The Kuwait Investment Authority decided to inject 2 billion US dollars
2:53
Become one of the few "white knights"
2:56
And Merrill was acquired by Bank of America.
2:58
This investment also became a long-term holding in Bank of America
3:01
That is to say
3:02
They held this position for a full 17 years
3:05
Why are you selling now?
3:06
To know that the current selling price is $47
3:09
Only $2 more than the 2022 high of $45!
3:13
At this time, the warehouse was suddenly cut, what happened?
3:16
You must listen to the next content
3:18
Otherwise, you may miss the truth behind this wave of money transfers
3:22
But it's not over yet.
3:24
Just days before the BofA deal
3:25
Another deal is even more significant:
3:27
Kuwait Investment Authority through a series of block trades
3:30
Cleared 394 million shares of AIA
3:33
Up to HK $26.80 billion
3:36
And here's what we need to know.
3:37
They participated in the AIA IPO as cornerstone investors in 2010.
3:42
The purchase price was only HK $19.68 at that time
3:45
The offer price is HK $68 per share
3:48
Up nearly two and a half times
3:50
This is a sound long-term value investment
3:52
Now it's completely over
3:54
Two consecutive long-term heavy positions
3:57
Cut all positions in the same week
3:59
This was definitely not a coincidence!
4:01
If you think this is just an ordinary position adjustment
4:04
Then you really underestimate the depth of this capital transfer
4:07
I will reveal later
4:08
What kind of assets are they exchanging for?
4:10
Don't worry, this is just the beginning.
4:12
To understand the true significance of these two transactions
4:15
We have to go back to 2008.
4:17
The subprime mortgage crisis that nearly broke the global financial system
4:22
Merrill Lynch was on the verge of bankruptcy
4:24
Market confidence collapsed
4:26
No one dares to do it
4:27
But the Kuwait Investment Authority stepped up
4:29
Subscribe to its preference shares for $2 billion
4:31
This is not small money.
4:32
It is "life-saving money" in times of crisis,
4:34
It's a "white knight" type of strategic backing
4:37
And then Bank of America bought Merrill Lynch.
4:40
The preference shares were eventually converted into common stock in Bank of America
4:43
It became the part that is now being sold off
4:46
This position has been held since 2008
4:49
Spanning three Federal Reserve seats, two rounds of financial crisis
4:52
It is a long-term allocation at the level of "ballast stone" in sovereign funds
4:56
Likewise, the AIA investment is not easy
4:59
In 2010, AIA was spun off from AIG
5:02
The Kuwait Investment Authority is one of the cornerstone investors
5:05
Throw 7.75 billion Hong Kong dollars and win 394 million shares
5:09
Become one of the most important overseas investors in the Hong Kong stock market at that time
5:13
This part of the position has not changed so far
5:15
Until last week's clearance
5:17
17 years, 15 years
5:18
Two long-term heavy positions bid farewell to the market at the same time
5:21
"Strategic divestment" is not an exaggeration
5:23
This is not an ordinary position swap
5:25
And this'quiet departure ',
5:27
It is precisely the signal that ordinary investors are most likely to ignore, but with the most serious consequences
5:32
And here's the problem.
5:33
What exactly made them decide to leave?
5:36
The real signal behind it
5:37
The top gifters in the Middle East
5:38
Is changing
5:40
We often say
5:41
Sovereign wealth funds are "super long money."
5:43
They don't follow a trending topic, they don't speculate
5:45
Configuration period as little as 5 years
5:47
As many as 30 years
5:49
It's like the water. It's calm.
5:51
But once the direction changes
5:52
It often affects the entire global capital chain
5:56
Judging from the withdrawal of the Kuwait Investment Authority from Bank of America and AIA
6:00
They appear to be reassessing the strategic position of "traditional financial assets"
6:05
Although the official has not disclosed the specific direction of warehouse adjustment
6:08
But Feifei noticed
6:09
KIA has significantly increased its commitment to
6:11
Allocation ratio of "emerging technologies, energy transition, strategic resources"
6:15
Private Offering Fund for Semiconductor, Hydrogen, Electric Vehicle Supply Chain
6:19
According to Bloomberg's statistics for the end of 2024
6:21
KIA's weight in the green energy and technology track has surpassed that of traditional finance
6:27
And they are not alone
6:28
Since 2025
6:29
I have observed multiple Middle Eastern sovereign funds moving quietly.
6:33
Abu Dhabi's Mubadala Investment Company is gradually withdrawing from European banking
6:38
At the same time, the AI chip company Graphcore and the leader of the photovoltaic industry chain Suniva;
6:44
The Saudi PIF Public Investment Fund reduced its holdings in HSBC and Fortis Bank by the end of 2024
6:51
At the same time, it invested heavily in the US hydrogen energy infrastructure.
6:54
The UAE has even established a dedicated digital asset strategy fund
6:58
US Dollar Stablecoin Circle and Global Payment Network
7:02
The top gifters in the Middle East are collectively doing one thing
7:04
"From the virtual to the real",
7:06
No longer content to hold the claims of the European and American financial systems
7:09
They're moving to core assets that control industries, technologies and energy.
7:13
Did you notice that they cut it off?
7:15
These are the assets that conservative investors trust the most.
7:18
And bought
7:19
Is it the'future infrastructure 'they hate the most?
7:22
This is due to the profound changes in the global financial cycle.
7:25
First, traditional bank profit models are under pressure
7:27
The interest rate spread is being squeezed by high interest rates and financial technology.
7:30
two
7:31
Geopolitics poses a challenge to the neutrality of the financial system
7:35
Increased regulatory uncertainty in the West.
7:37
three
7:37
Return on capital in emerging fields (AI, energy, resources)
7:41
Far more than the traditional financial industry
7:43
When even the oldest and most stable batch of "Old Money" began to leave the market
7:47
It means that an era is really over.
7:49
Banks are no longer their haven of trust
7:51
Real big money
7:53
Is quietly turning to new battlefields that could define the future
7:56
You may not have noticed
7:57
"New financial forces" are quietly emerging on the other side
8:00
That is the infrastructure company behind the digital dollar
8:03
In particular, the stablecoin giant Circle (CRCL), which has just listed on the US stock market,
8:08
It is a typical example of this capital shift
8:11
Circle as an issuer of the USDC stablecoin
8:14
IPO in June 2025
8:16
It rose 168% that day.
8:18
Market capitalization skyrocketed above $45 billion
8:21
As of early July
8:22
Circle shares have risen nearly 500%.
8:25
Become one of the strongest "new financial stocks" in the US stock market
8:28
Even more exaggerated - this wave of bets on Circle
8:30
It's not just "new money" like Silicon Valley VCs,
8:32
There are also representatives of Middle Eastern sovereign funds, hedge funds, and even "old money"
8:37
You can understand as
8:39
Old Money + New Money
8:41
Betting on the digital future of the dollar together
8:43
This is the most worthy of attention and thinking
8:47
Circle is not a bank
8:48
But it may control the future payment path of the dollar
8:51
And the Middle East's top gifter, tech capital
8:53
It has been quietly laid out.
8:55
As they withdrew from Bank of America and AIA
8:57
The hands have been extended to the "backbone equity" of these financial infrastructures.
9:02
This is the embryonic form of the next generation of financial order
9:05
If you are a retail investor
9:06
You've got to get your act together.
9:08
Because what is written down to say
9:10
It tells you directly and clearly who your opponent is
9:13
If you don't even understand your opponent
9:15
Then losing is the doomed end.
9:18
We continue to dig deep into the buyer's camp of these two block trades
9:21
Who is it?
9:22
Dare to take the billions of dollars of chips thrown by the top gifters in the Middle East at this time?
9:27
From the perspective of public information and transaction methods
9:30
Bank of America's $3.10 billion block trade
9:32
Most likely by large institutional investors
9:35
In particular, ETF index funds and quantitative funds are "passively acquired".
9:39
Why do you say so?
9:40
Because the buying logic of such funds is not "optimistic" about the future of the company
9:44
It's about following weights, tracking indices.
9:47
It is a typical "systematic buying".
9:49
Like what?
9:50
If the banking sector in the S & P 500 index gains weight
9:54
Then these passive funds must increase their holdings proportionally
9:57
No matter the price or risk
10:00
In other words, their buying
10:02
It is not based on a judgment of the fundamentals of the bank
10:04
It's "programmed mechanical action."
10:06
And in the Hong Kong stock AIA transaction, this is even more true
10:09
A number of Hong Kong stock exchange funds and southbound fund ETFs
10:12
Passive index-allocated funds have emerged in transaction records
10:16
Likewise, they buy
10:17
It is because AIA has a high weight in the Hang Seng Index
10:20
It's a "have to match" choice.
10:22
This results in a very paradoxical situation.
10:25
Big money that truly understands risk is retreating in silence.
10:28
The retail investors who do not know the truth are chasing the rise;
10:31
ETF funds that are restricted by the mechanism are forced to take over
10:35
On the surface, this is a normal trade;
10:37
But if you look deeper
10:39
Will find
10:39
It was a planned divestment.
10:42
And the really judgmental money is leaving the market.
10:45
What is left is a large number of passive follow-up retail investors and ETFs taking over
10:49
A deeper concern is that:
10:51
The withdrawal of sovereign funds may not be a partial adjustment
10:54
It is the beginning of a "structural loosening of confidence"
10:56
You may remember
10:57
Between 2023 and 2024
11:00
Already, more and more foreign investors are reducing their holdings of US Treasury bonds
11:03
China, Japan, Belgium, Luxembourg
11:05
Positions are down.
11:07
And now
11:07
Even the "core financial stocks" in US stocks are starting to be reduced
11:11
So what is left of the "credit anchor" of the US financial system?
11:14
This could set off a chain reaction:
11:17
Financial Institution Group shares decline
11:19
Market value shrinks, credit shrinks;
11:21
Second, it affects financing capacity
11:23
The belt is tightened, limiting economic expansion.
11:26
Third, leading to further pressure on supervision
11:28
Banks' risk appetite has declined, and market vitality has weakened
11:31
And all this
11:32
Already started quietly in two deals this week
11:35
The market always thinks that sovereign funds are the "last ballast stone",
11:39
It's the money that "won't run away the most"
11:41
But when the ballast stones start to move
11:43
Is the balance of the entire hull still safe?
11:45
Now, this is not alarmist.
11:47
The "escape time" left for ordinary people is running out!
11:50
Now let me tell you a truth that many people don't want to face.
11:53
Why is value investing in today's financial stocks?
11:56
Has completely failed
11:59
Since the start of interest rate hikes in 2022
12:01
Not only has Bank of America's share price continued to slump
12:02
Buffett's Berkshire quietly reduced its holdings
12:05
But the real concern is not the share price
12:08
Rather, the "belief in value investing" represented by such bank stocks is being destroyed
12:12
past
12:12
They are symbols of stable cash flow and a cyclical margin of safety.
12:16
And here we are.
12:17
They increasingly resemble policy instruments
12:18
The capital "trap" of burdensome, anemic growth.
12:22
This is the heart of the problem
12:23
It doesn't matter how much financial stocks fall
12:25
It's the story of "why should they go up?"
12:27
It's starting to make no sense
12:30
Traditional value investing beliefs
12:31
It is based on several major premises:
12:33
Stable profits and stable dividends;
12:35
Financial regulation is predictable.
12:37
Global capital follows the safe arbitrage logic of "low valuation - high dividend"
12:41
But today
12:42
These supporting logics are collapsing one by one
12:45
Global policy is no longer stable, and the monetary system is being restructured
12:48
Even sovereign funds are no longer willing to be "credit endorsers" of the financial system.
12:53
In the past, you could hold banking, insurance, real estate leaders with peace of mind
12:57
"Structural compounding" through time and dividends;
13:00
And today
13:00
These industries are cheap in valuation
13:02
But structurally -- it's being phased out.
13:05
This is not an undervaluation.
13:06
It's a cognitive mismatch.
13:07
You thought they were temporarily low
13:09
In fact, they may have long ago moved from core assets
13:12
Became an edge configuration
13:14
But here's the thing.
13:15
This divestment is not a passive response to market sentiment
13:18
It's active asset migration.
13:20
Even sovereign funds, pension funds, and central bank foreign exchange reserve managers are known for their stability
13:26
Now it is also adjusting positions, redistributing and repricing.
13:28
Hear here
13:29
Maybe you still have anxiety and unease in your heart
13:32
But I got to tell you something.
13:33
Emotions don't bring answers.
13:35
Cognition changes the outcome
13:36
In today's video
13:37
I have made it clear the direction of the entire capital migration:
13:41
Which plates should we try to avoid?
13:43
As for which areas are worth ambushing
13:45
You should have a preliminary judgment in mind
13:47
Traditional financial heavyweights such as banks and insurance
13:50
It's not that the valuation is low now.
13:51
It's a systemic fall from grace.
13:53
And fintech infrastructure like Circle
13:56
Energy transition core targets, key resources and digital currency bridge assets
14:00
That's where sovereign money is betting big.
14:03
Future structural dividends
14:05
Hidden in these'you haven't researched 'assets
14:08
If you're still unsure where to start
14:11
Then click the top link in the comment area.
14:13
Join my research circle for free
14:15
If you have any questions about investment or individual stocks, you can directly throw it to Feifei.
14:18
I can answer your questions one-on-one.
14:20
There will be a double layout this week.
14:22
Theory + practical verification
14:23
The most terrifying thing about investing is ambiguity
14:26
Let's make this path a little clearer together
14:29
So you see, what we're talking about today
14:30
More than just two seemingly ordinary sales deals
14:33
But a fundamental shift in the capital order
14:36
Sovereign Funds, Stablecoins, Financials, Circles, ETFs...
14:40
These seemingly unrelated keywords
14:42
Linked behind
14:43
It's a big picture that you must understand.
14:45
The old system is collapsing, and new rules are emerging
14:47
This is not a simple "reduction",
14:49
It was a shift from "defensive" to "offensive."
14:53
Old money is going, new money is gambling
14:54
The most terrifying thing is - you neither follow
14:56
I don't have the courage to bet, I can only stay where I am and be harvested
15:00
And then
15:01
The market doesn't give you much time to react
15:03
Wait for the news to come out, the market has run out;
15:05
When the whole market understands it, you will be harvested
15:09
So the question is not "can I still buy financial stocks?"
15:11
but
15:12
Your asset allocation
15:13
Is standing on the tail of the old system
15:15
Is it still standing at the beginning of a new cycle?
15:18
If you don't know the answer
15:19
Then come to the fan's research circle.
15:21
I will continue to dismantle the movements of these large funds and the underlying thinking of sovereign funds
15:26
Circle, energy, critical resources in particular.
15:30
After the direction is determined, the most important thing is how to go
15:33
Recently, I shared the latest target for everyone to learn, and many people told Feifei that it was very good.
15:38
Harvested
15:39
These are all verifiable by open sharing in the investment research circle
15:42
Join for free with a small subscription.
15:45
So let me leave you with one last question.
15:47
Are you still heavily invested in bank stocks?
15:49
Or are you still waiting for an opportunity to intervene?
15:51
Leave a'still holding 'or'ready to change positions' in the comment area.
15:55
Let me see how many people don't realize that this quiet escape has begun
16:00
If today's video was helpful to you
16:02
Then welcome to like and subscribe to comments.
16:04
See you in the next video!