From April 2014 securities B to 1 yuan price began to go on sale to December 17, 2014, the value of the restoration of the highest price rose to 6.5 yuan, rose 500%+! But then there was a terrible drop, down to just 3.9, down to 40% by February 3, 2015! But after only two months, it quickly rose to 7.5 yuan, an absolute increase of more than 90%!
This means that in a bull market, there are two ways of grading B , a play is
For example, if the market earns 100% on average, and you want to make 200%, then I'm afraid you have to take a more aggressive investment strategy--give up buying the traditional ingredient index and buy the industry index and the concept index instead.
One billion, I will buy a private equity fund that I trust more.
For example, with a little debt, a little trust, a little new sanbanxi, with a bit of overseas assets, with a bit of PE/VC, with a bit of REITs (real Estate Trust Investment Fund), of course, I will also be a little house, with a little antique calligraphy and painting wine or something ...
So it is absolutely impossible for the real local tyrants to put most or even all of the Mr. Gbagbo into the stock market like we do.
First Business
Second Buy house
Third stock
Buy 1 million yuan of securities B, and then hold on until the end of the bull market, and you are very precise to sell the securities B. Please be assured that your initial 1 million yuan of the principal will become 10 million yuan, or even become 20 million yuan is also possible.
most Ten more than billion-dollar rich do not rely on the purchase of shares to make so much money, but by selling stocks.
Core Financial Perspectives:
The first is for young people to invest in themselves, to invest in the most rewarding investments,
Second, young people want to learn financial management as early as possible, but do not study money all day, you should devote more energy to study professional knowledge and work,
Third, young people should dare to start a business.
The first standard, but also the most important criterion, is to prioritize the largest one! The reason I have said before, to avoid liquidity risk, do not wait for you to sell when you do not sell off. For example, the same tracking brokerage industry, the size of securities B than brokerage B and B are big, I would prefer securities B.
, the first release of the fund can eat meat, the second issue can only drink soup, the third fourth to follow the issue, often only hexibeifeng to go.
For example, only the Prudential fund issued by tracking the CSI 300 index grade B can be directly called " Shanghai and Shenzhen 300B", sounds much more awesome ah! I don't know, but I think this is the only one. A tiered fund that tracks the CSI 300 index.
And the latter , Yinhua These fund companies issued similar funds can only be called " National Gold 300B", "Silver Hua 300B", the gas field is obviously a poor level.
Another example is the Shen Wan letter to the " Securities B" the loudest name to Rob,
Investment fund can only be called " Broker B", the gas field is a bit worse,
Peng Hua Fund has also made a " non-silver b", many investors do not understand what this mean, and then a cruel to change into a " card Bao B", people this just see, you are investing in securities insurance industry funds.
Later, rich-country funds also out of the Tracking Securities Industry grading Fund, but "securities", "brokerage", "insurance" name are used, how to do? In the beginning can only be called "FG Securities B"--FG is the ruby abbreviation of rich countries, but where do investors know what FG means?
Then the rich-country fund suddenly brainwave, renamed " Security B-Class "! So the original is called "Shen million Securities B", this is called "rich Country securities B-Class."
There are environmental protection B and Environmental B, resource B and resource B, transfer debt B and transfer debt B ... It's all in vogue now. Of course, that's not the bottom line.
Tracking the real estate index, the first one called "Real estate B", the second called "Real Estate B",
Tracking SME Board index, the first is called "SME Board B", the second one, called "Small and Medium B
The first is to see who in the level two market discount is higher, or the premium is smaller, or that sentence, can buy a bargain, do not buy expensive.
the second is to see which rating B The corresponding rating A the agreed rate of return is lower. Low returns mean that the financing cost of B is low, the lower the agreed yield of grade A, the lower the financing cost of grade A, if two grade B tracks the same index, the position is the same, but one financing cost is 6% and the other is 7%, then the net value of the preceding grade B will be 1% higher than that of the latter. Because lower costs mean higher profits.
third, you need to see which grading is now B the actual price lever is higher.
Rating B in
Because the bull market in grade B Most of the time is a premium, there will be few discount, so the price grid lever is often less than the equity lever .
Four depends on the actual price lever, the bigger the greater the better.
Tiered arbitrage
Is that the parent fund of the Grading fund can purchase redemption, while two sub-funds can be traded in the two market, the price difference between the redemption price and the purchase price will naturally occur,
The ox is a great profession, they are the lubricant of the market economy, their canonical appellation should be "The price Bill Trader", from the nature of work, they and the red vest that sits on the stock Exchange is same.
Cattle in the planned economy, speculation is illegal.
Tiered fund arbitrage and scalpers do things that are essentially exactly the same. The ticket price of 880 yuan is equivalent to the net of the Grading fund, the ox has risen to 1280 or fell to 4,801 tickets is equivalent to the Grading fund in the two market price, not a premium, is a discount.
Many small white bought the grade B has not been understood, today the stock market is obviously up, the net grade B is also up, but why I hand the grade B price has fallen, I not only did not make money but lost money? That's because the discount and the premium are in mischief. When the net value of the fund has risen by 1%, it is possible that prices in the secondary market have risen by 3%, and that prices in the secondary market have fallen by 1%.
One is called the discount arbitrage, one is called the Premium arbitrage.
For example, at a certain moment, the net value of the parent fund is exactly 1 yuan, while the price of grading A is 0.8 yuan, the price of Grade B is 1.1 yuan. The price of a Class A + grading B is equal to 1.9 yuan, while the net value of two parent funds is 2 yuan, so at this point the price of the two-tier market appears as a whole discount. You only need to pair the buy Grade A and grade B, and then merge into the parent fund redemption will be able to earn the 1 cents of the difference, which is called the discount arbitrage. Your return on investment is 0.1÷2=0.05, which means you can carry 5%.
Conversely, the net value of the parent fund is still 1 yuan, the price of grading A is 0.9 yuan, the price of grade B is 1.2 yuan, graded A + The price of grade B is equal to 2.1 yuan, will be more than two of the net value of the parent fund 2 yuan more than 0.1 yuan, at this time the price of the two-class market appears the overall premium, you can first purchase the parent fund, and then split into the classification A and grade B, finally sold the way to earn this 1 cents spread, which is called Your arbitrage income is also 5%.
Buying, buying from cheap places, selling in expensive places
Premium Arbitrage rating A + tiered b price overflow, greater than the parent fund net assets
Discount arbitrage Grade A + grading b price discount, less than the parent fund net assets
The discount premium is all about grading AB.
Discount Arbitrage the first day to buy, the next day merger, the third day to sell a arbitrage completed
Premium arbitrage first day buy third talent demolition fourth day sell next day no spin-offs
So from the beginning of the day when the arbitrage of the Grading fund has appeared, it has been confronted with two predators: one is cost and the other is time. If arbitrage does not require additional fees, it means that the probability of the arbitrage will increase greatly. If arbitrage takes time to shorten, it means that the risk of arbitrage is greatly reduced.
at present, the subscription fee of the parent fund of Grading fund is generally 1.2% , redemption fees are generally 0.5% ,
Grading arbitrage, to the Huatai Securities account, Huatai Securities is the first to come out to solve the problem.
Because in accordance with the normal process, the discount arbitrage takes 3 days, the premium arbitrage takes 4 days, but Huatai securities through the "blind dismantling" way to reduce the time of the discount arbitrage to 2 days, the premium arbitrage time shortened to 3 days.
But Huatai securities will allow you to split the day of the merger.
So now blind demolition has become a necessary weapon for graded arbitrage. And now like GF, Citic, founder, Guohai and many other securities companies have also supported the blind demolition. If your brokerage does not support blind demolition, I advise you to wash and sleep, because you must play but others .
For institutional investors with larger funds, they have a way of hedging the risk by shorting the corresponding stock index futures while buying a tiered fund parent fund. a buy up, a buy a fall, the risk does not hedge off it?
But the index futures account opening threshold is 500,000 yuan, and ordinary retail investors do not play, we can not use stock index futures to hedge risk, can only ask the Bodhisattva bless this two days in the stock market do not fall, our grading arbitrage called " bare Set", you are shirtless, There is no risk-prevention capability.
Hedging arbitrage .
If you want to play a premium arbitrage, you can buy a certain rating A and grade B first, and then hold, when the Grade A and grade B in the two-tier market appear the more obvious overall premium, you want to play the premium arbitrage, sell the grading A and grade B directly in your hand, and purchase their parent funds, You sell the sub-fund and the purchase of the parent funds are completed synchronously, thus avoiding the past 3 days to complete the premium arbitrage time risk.
Because the Hong Kong stock market is t+0, the same day buys the stock, can sell on the same day. In order to access the trading rules of the Hong Kong market, the two tiered funds have made an unprecedented innovation-allowing the parent fund to be traded on the level two market.
First, the Shenzhen stock Exchange listed two QD funds, a call to add Fu Hang Seng index grading qdii Fund , hereinafter referred to as Hang Seng A, Hang Seng B,
A named Yinhua Hang Seng state-owned enterprise classification qdii Fund , referred to as H shares a, H shares B.
Because the Hong Kong stock market is t+0, the same day buys the stock, can sell on the same day. In order to access the trading rules of the Hong Kong market, the two tiered funds have made an unprecedented innovation-allowing the parent fund to be traded on the level two market.
As a result, you will find that
Omg~ in this way the entire grading fund play is greatly complicated, can be arranged in a combination of more than 10 investment strategies.
Then SSE found in the QD classification fund innovation seems very reasonable, so SSE in April 27 this year , the first batch of two tiered funds-
have also adopted such trading rules. I estimate that there may be more and more grading foundations allowing the parent fund to be traded in the future.
Disadvantages of hedging arbitrage
The first drawback is that the efficiency of capital use is reduced.
The second drawback is that you can only play the same tiered fund over and over again.
The computer relies on high-frequency trading programs that have already eaten the slightest petty that just appeared.
Our manual player will never play the player with the plug.
If you look closely at the tiered funds in which these funds can be traded, you will find that the spreads between their parent funds and sub-funds have become very small , and that the discount and premium spaces are often only 0.05%, 0.1% So , it's almost impossible to get rid of the transaction fees.
Two meanings, one is the interest in investment is the compound effect , so the sooner you start to invest, the more the compound effect will be obvious, you will make more money by investing in the future.
is any investment, it must be in its value has not been fully excavated out, has not been the attention of the general public in the pursuit of the time, you have to invest in advance, and must not wait until the full street people are playing this thing and then rushed in. Investment is always foresight people eat meat, after the understanding of the people drink soup, wood-aware people pay.
It's all because some of the grade B in the bull market has a super-high yield, often reported by the media, a small part of the cock silk is just beginning to know that the stock market there is such a fun stuff.
In general, the index fund only when the opening of 80%-90% to close the closure period, the official listing,
Qianhai Open Source This moral integrity fund company in order to seize the bull-making opportunities, not ready to rush to the listing, encourage investors to play arbitrage, they can make a big profit and management fees.
in a bear market, don't play grading B and don't play arbitrage, just play grading A , take interest on the line.
and in a bull market, don't play grading . A and don't play arbitrage, just play grading B .
2,700 stocks only.
In the bull market, more than 70% of the stocks are running out of the mainstream index.
But if you buy an index fund with leverage, which is the rating B , especially those that track the industry index B , that bull run down, their earnings will be higher than Tenghan, hundred, gold, these indices of an order of magnitude, it is likely to exceed 90% the stock is not to run these tiered funds.
When everyone wants to play arbitrage, the chance of reverse arbitrage comes. What does that say?
When playing the premium arbitrage, the arbitrage will be the purchase of the parent funds split into AB two sub-funds, and then quickly sell in the two market, but if all the arbitrage in a two-day time to concentrate on selling, a short period of grading A and b are likely to have a serious oversupply, two market prices will be a slump, Grade A because there are implicit agreed yields to do support, so the fall is not so miserable, but the classification of B is very easy to fall, or even two or three consecutive days of a drop can be.
At this point, the discount rate of Grade A may be greatly increased, and the premium rate of grade B will be significantly reduced or even a discount. In a bear market, you specifically pick this time to buy Grade A, in the bull market, you specifically pick this time to buy grade B, you can pick up a bargain, which is called reverse arbitrage.
In fact, Sima Qian in more than 2000 years ago wrote the historical records when he found, he said that the secret of investing money is nothing more than eight words: Mashing, Shing . it's so simple.
The word "You are great for making money,"
Financial training market has a word, called "North has Liu Yanbin Beijing, South has jian Shanghai". Liu
"Choose to be Rich", the author Jian.
Shanghai Finance Specialized College
"Money has the technique" dry many,,
"I need the most financial knowledge book", the author is Wang Hua, is
"Angry Birds Learn Money", author Tao Xiong is also a senior financial planner.
"In this way, life is like this". The author is "the Trainer of financial manager, Wang Pei". He is "financial weekly" Vice-President editor, is also the old leader for many years, in the Li brother growth on the road, also taught me a lot of financial knowledge.
"Poor Charlibao Code" Speaking of Buffett, he had to mention his old partner, in fact, Buffett's half of the mentor-Charlie Munger lattice.
But it's a piece of cake compared to Buffett's teacher, the classic classic of Graham's classics-the Securities analysis and the Smart Investor book. These two books are known as the Bible in the field of investment, and it is necessary to mix the two books on Wall Street, even if you have not seen them, pretending to be tall on your shelves.
"Securities Analysis" This book is very complex, very difficult to understand, there is a large number of calculations, anyway, the liberal arts students have no patience to read.
The investment philosophy of Smart Investors is in fact the same as the securities analysis, but it is easier to write and suitable for entry-level investors to see.
Buffett himself has said that my investment philosophy is 85% of Graham and 15% Fisher, how much the impact of Graham's investment philosophy on Buffett
See the storm technology, all-in-education, the Chinese car such as the stock, it is expected to faint ...
"Poor Charlibao" this person although every time Berkshire Hathaway company to sit on the side of Warren Buffett, the light is always to be sucked away by Buffett, but this is really a cow, is the brother of the great admiration of the encyclopedia-style people. The strength of his brother himself has been trying to grow into an encyclopedia type of people, but compared with the big God , the difference does not know how many 108,000 miles . This book is not just about investing, it's really, you know .
You go to compete with a madman, then you are not insane?
The simplest thing in the investment. The author of the book is called Chiu Heron and is a fund manager. But his fame and Yawei, Wang Ju, Kingclean, Dambin, guiltyboy These funds industry of the big guy than up, a lot worse. But his investment philosophy is very close to mine.
the theory of economics--> The general theory of employment, interest and money, wealth
One is written by Adam Smith, "Wealth Theory", the former lays the foundation of Microeconomics,
One is the general theory of employment, interest and money, written by Keynes. The latter lays the groundwork for macroeconomics.
The Book of economics can be called Classic Classics, besides these two books, at most plus a Marx's "capital" great.
The first is the classical religion. The Bible, the Quran, and some of the classics of Buddhism, such as "Diamond Sutra", "Altar Sutra", "Leng Yan Jing", "Heart Sutra". Its center is the shortest Buddhist sutra, is the most concentrated Dharma wisdom, as Panchangjiang said, concentrated is the essence, you can completely back out.
And the writings on Hinduism, I recommend you read the Hindu religion-Hinduism and Buddhism, written by Max Weber. And another classic of Weber, a book that has a major impact on building the world's worldview and beliefs:The Protestant Ethic and the spirit of capitalism, and I strongly recommend that you read it.
And in Judaism, after the Old Testament classics-The Talmud, you probably know why Jews are so smart and so rich.
If you want to read history, you will never be able to read any chronicles or country history, you must read global history!
Economy 64 ... The
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