Commenting on the assessment of investors in a recent study, Chan Kung, chief researcher at Anbound, pointed out that first-rate investors would carefully select their "predatory" targets for investment through intelligence analysis. Second-rate investors would invest based on insider information and rumors. Third-rate investors make investments based on research reports, indices and data; these are already the marginal groups in the investment field. Fourth-rate investors follow the flows and allow themselves to be manipulated by fate.