基金經理主要是根據什麼來選擇股票?

I totally agree to what you said. Most of the technical analysis 技術分析 are used to explain something that already happened, hence it does not really give the users what would happen next. The short term movement is just as random as Mark Six and does not require any reasons but people love to put in their view to explain it.

Regarding the fund manager, fund manager would not use technical analysis to choose stocks to put into his portfolio. Fund manager has his own strategy linked with the fund. The strategy will be followed along the life time of the fund. The inclusion of any one stock would depend on many factors. e.g. the company is within the region or industry of the fund required, the fund manager feels that the management team is doing the right job, the potential of revenue growth and the risk associated.