江城 / Jiang Cheng (Fund Manager)

Jiang Cheng appears in 175.公募基金二季报：极致的抱团与割裂之后 through a Zhongtai Asset Management report that [[DavidWeng|大卫翁]] reads as a coherent investment-framework example. The source uses him as a counterweight to both hot AI optimism and short-term performance chasing.

His framework emphasizes that investors cannot change the market and can only adjust their own process. He defines a framework as a combination of philosophy, market view, and strategy: what to do, why to do it, and where to do it.

Key Claims

• Jiang Cheng’s view prioritizes survival, long-term weighing, and enterprise durability over short-term prosperity.
• He prefers win rate over payoff odds, where certainty means being able to withstand forecast error rather than forecasting precisely.
• The source frames his fund positioning as cycle-crossing and adequate-return oriented rather than always-leading.
• For ordinary investors, his example connects Portfolio Suitability to temperament: if one cannot hold a framework calmly, speculative trades should stay in a smaller account.

Connections

• Portfolio Suitability, Investment Risk Management, Position Sizing, and Investment Cooldown Discipline - investor-process context.
• Active Fund Crowding / 主动基金抱团, Fund Manager Ranking Incentives / 基金经理排名激励, and Public Mutual Fund Ecosystem / 公募基金生态 - fund-industry contrast.
• 起朱楼宴宾客 / Qizhulou Yan Binke and 大卫翁 / David Weng - source show and host.