In July, the technology stock market experienced an abrupt downturn. Actively managed equity funds, which had previously demonstrated robust performance, encountered substantial declines amid this market correction. Over 3,500 funds reported negative returns for the month, with over 70 products witnessing drops exceeding 40%. Fund analysts have underscored that while the 'betting-style' investment approach in public offering funds can potentially yield high returns, it also entails considerable risks. The industry ought to embrace a contrarian sales philosophy to steer clear of excessive promotion when valuations in a particular sector become excessively inflated and trading becomes overly crowded.