Economy--stock--the fund manager killed and refused to say the money shady

Fund manager killed not to say money shady finger-base winning trick one: Never fear

Because the measurement of an index fund is good, do not look at what Alpha Coefficient Sharpe index, as long as the tracking index of the error is not big. The smaller the tracking error, the better the Fund. So the index fund is always calm in waiting for the full position of the collapse or full of inflation in the state, he will not fear, he is always greedy!

And in a bull market, do we need more fear or greed? Is the answer not obvious? So why in every bull market, most of the stock-based funds that have to run to win the index finally run out of index funds, that is the truth.

finger-base winning trick two: Very low cost

Because the index fund is always a "Mount" of the full position, so unless the index of the constituent stock changes, generally every six months will adjust so many, otherwise he does not need to buy and sell stocks. The stock fund because of often jiancang or change positions, the result of the transaction costs of both more and more big.

Index fund winning trick three: do not spell RP

The third reason is to buy index funds, your potential risks and benefits in advance fully know, I am to take high risk to win high returns! The index rose to 6,100 points, I made a profit, the index fell to 1600 points I was miserable, I resigned!

But to buy stock funds, it is a bit to spell character. Even if you choose the Morningstar 5-star Fund, there may be a full-nadir situation.

The more important question is that the future performance of stock funds is really hard to predict. If you have time, you can check the last few years the stock fund rankings, each year in the TOP10 of the most cattle fund is the change of the king flag, Feng Shui annual turn, almost not very likely to appear in the first two consecutive two or three years of the fund. Yawei of the Chinese market is an exception, of course, the fund since January 2007 has been closed, so it has been a good rise in those years and we do not matter.

What does that mean? Describe a fund manager's investment strategy, in a certain market may be very effective, will make you make a lot of money, and when the market changes, his strategy may not be the spirit. The most typical is the 2014-year end of the blue chip market, many stock funds are not how to make money, is because those fund managers are also accustomed to the past few years speculation small stocks of investment ideas, see the market stock market suddenly came, dumbfounded.

In other words, any investment style or investment strategy of any fund manager is unlikely to make money in all markets, and that is not the way to spell your character.

Speaking of character, I would like to say two more words. China Public fund manager This group of character Ah, overall also not optimistic.

On the one hand, because the incentive mechanism is not enough, many really good like yawei such people, now have to move to private funds, the Chinese public fund now the brain drain phenomenon is very serious.

Many fund managers are Gen Y, the same size as brother Li. A 30-year-old like us, graduated from a master's or a PhD to a few years now? This age can only be a fund manager assistant in foreign countries, how can you be a burden fund manager? This is not to say that these people's professional ability must be very poor, but you in the stock market time is too short, and investment experience for a professional investor is the most important and valuable wealth.

On the other hand, these are the fund managers who are still in the public fund team, and their professional ethics are really fucked up.

For example, a fund manager decided to buy a stock, he first in the stock before the rise, with his own private account first buy, and so the fund's money into, the stock naturally went up, and then did not wait for the fund to throw away, and then put the stock to throw, this does not put CDI's hard-earned cash on the bar head? This kind of sungongfeisi behavior, like the mouse that eats the public food, is hateful and hateful, so called the mouse storehouse .

In May 2014, Brother Li wrote an article called "These years, those embarrassing fund managers."

Economy--stock--the fund manager killed and refused to say the money shady