In essence, we invest in the investment ability of fund management. Investment ability is unstable, so long-term holding and profitable investment ability will give you excess returns. Many people will say that the fund has the phenomenon of net value withdrawal, why should it be sold when the net value is high and bought back when the net value is low? Sounds reasonable, but the prediction of this high and low point is higher than the certainty requirement. After all, it is easier to judge whether a person is kind than to judge a person's mood at a certain moment.
One reason is that the stock market where funds are traded has an economic cycle, and it is also necessary to make bands. I don't agree with this either, because the fund manager will also adjust the position of the fund. I believe that his adjustment should be more professional than any gay friends. After all, without our major, we will get higher returns from our own stock trading.
Fund managers judge where there are investment opportunities in the market, and short-term trading of funds is the best and worst moment for us to judge the current performance of fund managers. Which job is more difficult for you to consider carefully?
Therefore, when there is no big change in fund managers, it is recommended to hold them for a long time.
Asking this question shows that you haven't determined your investment style yet!
Why do you say that? Let me explain!
If your investment style is to invest in bands in highly volatile markets, you will never hold it for long. Band investment needs to set trading points and strictly implement them! (Of course, there can be one or more trading points. So it is easy to understand that these investors will not hold it for a long time.
If your investment style is to make steady value investment, it is normal for you to hold a fund for 3 to 5 years! Value investment means that you are optimistic about a company or an index or an industry, thinking that it will increase in value steadily, and you are willing to grow with it and get benefits while growing. The growth of value cannot be achieved overnight, and it will take a long time to understand!
So in a word, whether you hold it for a long time depends on your investment style!
First of all, there is nothing wrong with holding funds for a long time. The longer the holding time, the lower the risk sharing and the better the income. But, however, the premise is that it is cheap and the valuation is relatively low. For example, in March this year, during the domestic epidemic, the Shanghai Composite Index once fell by about 2,600 points. I bought a sum decisively without thinking about it. The highest score is 3394, and the income is still considerable. So, should we sell it, throw it high and suck it low?
I'm not selling it anyway. First, the money in the investment fund is idle money, which is my compulsory financial management money and should be kept.
Second, the position of 3394 is awkward. This point is a normal valuation for my position at best, but it is not overvalued. If it goes up as soon as it is sold, it won't lose money.
Third, if you want to sell it, you really don't know what to buy with the money you sell. The overall trend of the market is similar, and the sale and purchase can't pay management fees and custody fees.
In short, as long as it is cheap, it is not afraid of falling or rising. As long as it is spare money, you have to wait for the cows to come.
Let me talk about my superficial understanding first, hoping to attract more attention.
First of all: Why did you buy a fund? What kind of fund did you buy?
Since I want to buy a fund, it is mainly for stability, I think.
If the fund jumps up and down like stocks and futures, do you still dare to buy it?
Don't always think about eating meat to make money. Why don't you want to be beaten to eat noodles?
Profit and loss are homologous.
In addition, all wealth accumulation needs not only the cost of capital, but also the cost of time.
Rome was not built in a day.
All advocates of profiteering are basically liars.
Who knows who uses it.
Finally, you may say: Can I get on the bus before it takes off and throw it away when it starts to fall?
The idea is beautiful, and the market will teach you to be a man in minutes.
Besides, with such a good thing, can it be your turn?
People always feel that the protagonist's aura is above their heads, only to find that:
I thought I was brother Xun, but most of them became leap soil, even worse than slag!
That's why we say high throwing and low sucking. If it is short-term operation, two conditions must be met. First, you have a certain knowledge of the fund and can analyze where the current fund is according to market trends and news; Second, you need some time to pay attention to the basic situation of the fund.
Do you know when it is high and when it is low? Anyway, I chose the fund and put my spare money there. In 2006, 20,000 yuan was still held and reinvested with dividends.
The data proves that long-term holding is right, and it is rare to double it in the short term.
The essence of fund (active fund) is that everyone collects money and gives it to a professional with high education and high IQ to operate and make money. This kind of making money is a long process, just like doing business.
It takes time for your senior professionals to buy, hold and sell at the right time. He may be playing games and want to make a fortune at the end of the year. It's not good that you asked for divestment a month before you made a big profit. A manager can't explain a game to every investor repeatedly, so what he does can't make every investor feel right. If you are better than him, do you need to buy a fund if you go to the stock market yourself?
Therefore, it is impossible for these short-term holders to enjoy the benefits of making money, which is equivalent to putting a black gun in the back and hitting their manager in the middle of the back.
Why? Unfortunately, managers have to set aside a lot of cash, because they are worried that many short-term investors will temporarily throw it out, and this cash cannot be put into profitable business.
I remember my fund manager Hou Ge sent an open letter, hoping that everyone would settle down. I was shocked because I had no experience at that time, but I still insisted on voting. It turned out that not only did it not fall, but it also skyrocketed. Sometimes I recall that the manager wants to get rid of those short-term speculators and get off the bus so that he can buy stocks with a higher proportion of money. After that, Hou Ge came out several times to throw short-term players: Although white wine is good, don't drink too much. I don't care at all. This doesn't scare me.
It is a fact that our cash is not safe in the bag. Cash depreciates at a rate of more than eight points a year, which is higher than the interest paid by your bank. However, a good fund can ride out inflation. It's safe to put it inside. Especially when the U.S. imperialists are giving dollars to every citizen and foreign horses are desperately giving loans to enterprises to resist the economic crisis caused by the epidemic, cash is particularly fragile.
It is not impossible to throw high and suck low, but it is already speculation. If you have a work team and highly educated analysts, like Soros, you can do it. However, if you are at work, you can only hide in the toilet and secretly take out your mobile phone for a few minutes. Then forget it. Honest investment, no speculation.
There are successes and failures in everything. Some people earn a lot of money by holding funds for a long time, while others have been holding them but have been quilted.
Everything is negative and positive, and failure is failure. When someone buys a fund, someone loses, and the same person sometimes loses.
In a sense, the fund is another kind of stock, focusing on the selection of base and timing. A good foundation is definitely a good industry, but a good industry may not be able to choose a fund with good performance. Even if you choose a good fund, there is also a question of timing. A good foundation may not make money at that time.
Choosing the base tests the macro-strategic vision, and those who do not seek the general trend are not enough to seek the fundamentals.
Time is a test of micro-tactical execution, and people who don't plan time are not enough to plan technology.
The main problem is the problem between fund investors, which has certain universality. Let me talk about whether it is necessary to hold it for a long time.
First of all, high throwing and low sucking is the essence, which is not contradictory to long-term investment. For example, in the second half of 18, we decided to invest in the Growth Enterprise Market, which rose by more than 1000 points this year. Of course, the 20% return of Nuoan and banking stocks laid out in September this year is also an example. The investment logic is different and suitable for different people.
Secondly, if the types of funds are combined, they can be held for a long time to make money and compound interest. Logical worry-free fault tolerance rate is high, annualized rate 15%, which can be doubled in five years, so that excellent fund managers can worry about us.
Thirdly, short-term uncertainty and long-term certainty are strong. For example, the judgment of low suction and empty-handed flying knife is in the opposite direction, that is, lower than low, which is a test for investors and a pressure on capital flow. This process was shown during the bull market, and it was extremely fast. The same is true for high sales. Whether you like it or not, profit-taking strategies, such as this year's oil, are estimated to fail to achieve the expected returns in the future.
There is no competition between different tracks. The purpose of investment is financial freedom in different stages. Just establish an investment style that suits you and realize annualization.