9月18日，巴菲特指数（沪深300市值/GDP）略微回升至92.11%，不过暂时未打破近两个月震荡下行状态。股债性价比指标——沪深300指数股权风险溢价（ERP）为5.75%，较前一日刷新的逾13个月新高略有回落，依然处于偏高位置；从大周期来看该指标从过去四年波动区间下端逐步向中间区域靠近，暗示目前股市相对国债收益的吸引力有所上升，回到了中性偏高水平。 -------- 注：1、巴菲特指数是通过将股市总市值和GDP来比较，判断目前股市是否高估，通常70-100%为正常估值，低于该区间为低估，高于该区间为高估。 2、沪深300指数风险溢价（ERP）主要对比沪深300收益和国债收益率，统计近10年数据可以发现该指标和股指有明显反向关系，每次股市都处于底部区域时，风险溢价均超过6%，也就是当ERP≥6%，股市有投资性价比，而当ERP≤4%时，则股市往往接近或处于阶段性高点，投资性价比低甚至要小心回调风险。

Pentagon investigators found that intelligence gaps, outdated imagery and excessive reliance on AI contributed to the Feb. 28 strike on a primary school in Minab, Iran, that killed many children. The site had been labeled a military facility years earlier, but commercial satellite images as early as 2018 showed it had been repurposed — including colorful walls and a soccer field; U.S. analysts recorded those changes in 2019 in a system not linked to the main military intelligence database. Investigators also found parts of U.S. Central Command over-relied on Palantir’s Maven battlefield-intelligence platform and expected it to flag outdated or inconsistent foundational intelligence on potential targets.

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