The process of retail investor reduction in Big A has led to institutional concentration in heavyweight stocks, frequent liquidity droughts in individual stocks, rapid sector rotations, and pressure on the small and mid-cap boards—these are all inevitable market phenomena. The foundation for a long-term slow bull market is gradually being established through this painful elimination process. Real estate inventory reduction: Release liquidity → Drive up heavyweight asset prices → Attract newcomers to enter the market → Digest inventory and generate returns Stock market retail investor reduction: Release liquidity → Stabilize or even increase heavyweight stock prices → Liquidity dries up for individual retail stocks → Retail investors are forced to upgrade or exit → Chips become concentrated in the hands of institutions and rational investors.