A fixed investment in a fund is a regular investment in a fund, which is somewhat similar to the "zero deposit and withdrawal" of a bank. It also has another nickname called "average investment method", which perfectly highlights the core essence of fixed investment: investing in batches, diluting costs and reducing timing risks.

This kind of investment is more suitable for entry-level people who have no time to manage their finances. It is also called "lazy financial management", but it does not mean that others are not suitable. No matter what your main investment method is, Maruya's suggestion is that everyone should allocate a fixed investment fund, which has strong risk tolerance and can be used as a substitute for time deposits.

The mainstream investment methods of fixed investment are divided into fixed investment and fixed investment. Fixed investment is ordinary investment, and fixed investment is what we call "smart investment".

We have invested in a fund, how do we know its rate of return?

Some people may say, look directly at the account. Yes, the account does indicate our holding rate of return, which is also the most commonly used fixed investment rate of return algorithm.

But how do we know who earns more money than other funds?

This involves the annualized rate of return of fixed investment, which is the difficulty of fixed investment. Many people are discouraged because they need mathematical knowledge. In fact, everyone need not be afraid at all. It's not difficult. I know that some people deliberately write some professional symbol formulas that everyone can't understand in order to highlight their professional ability. In fact, they just dare to make it clear, very simple. Maruya will break it up today to ensure that there are no complicated formulas and it is very practical.

First of all, let's take a look at the basic algorithm of fixed investment yield:

Fixed investment is actually an equal annuity. Let's look at the following calculation problem. Suppose Xiaoming decides to start investing in funds. The application date is the last trading day of each month, and the investment amount is 65,438+0,000 yuan per month. At the end of the fifth month (note: I didn't invest this month, so I only invested in four periods), so what was the income of Xiaoming's investment at that time? The following figure shows the changes in the net value of fund units. The data is compiled by Maruya, which is a bit exaggerated, and the focus is on the calculation process.

The cash flow statement looks like this:

In the first step, we need to calculate the total share of funds held by Xiao Ming when the fifth period is fixed. Second, what is the total value of Xiaoming's fund? The third step, after this fixed investment, what is Xiaoming's total cost? Finally, if the fund redemption fee is ignored, what should be the yield of Xiaoming's fixed investment this time?

The calculation process is as follows:

Yes, this is the calculation method of most fixed investment income at present. It should be noted that because our funds are actually invested in batches, the previous funds are of time value, that is to say, the 1 000 we invested during the period of1,even if we don't buy the fund, there will be interest in the bank, with time cost and compound interest effect.

However, the rate of return here does not consider our time cost of capital, so we can't calculate the annualized rate of return accordingly. If we want to consider the time cost of money and calculate the accurate annualized rate of return, we need to use the internal rate of return (IRR) to calculate. The internal rate of return is calculated by interpolation, which is an estimation method. The specific calculation steps are very troublesome. People who live in the EXCEL era and don't take CPA exams don't need to do it.

Calculation method of annualized rate of return! Key point: Click EXCEL and follow the steps in my diagram. Xiaoming invests 1 ,000 every month, so he fills in 1 ,000. The total fund value at the end of the fifth month is the previous calculation result. The numbers in the green box are not input, but the purpose of our calculation. What we want to input is the formula in the red box, and the rate of return in the green box will be automatically calculated.

IRR calculation should be positive and negative, so it has been pulled from B 1 to B5. Don't worry about the specific calculation. Leave it to EXCEL. The annualized rate of return is calculated by subtracting the cost from the power of 12 (one year 12 months) of (cost+internal rate of return).

As can be seen from the figure, although Xiaoming only invested in four periods, his annualized rate of return is as high as 793.34%. In other words, if the fund keeps rising at this rate and Xiao Ming continues to invest, the principal will directly increase by nearly 8 times within one year. Of course, this data is just an extreme example I gave. There is nothing so good in reality.

Having said that, I want to change the topic and talk about other practical life skills of internal rate of return method. Some credit cards claim that the installment interest rate of 12 is only 0.66%, while others think that the annualized interest rate should be 0.66%× 12=7.92%, which seems not too high. Clever, you can know that this is actually a pit by pulling it with excel.

Assume that 10000 yuan is swiped by a credit card, and repayment will be made in 12 installments, with a handling fee of 0.66% for each installment, totaling * * * handling fee10000 * 0.66% *12 = 792 yuan, and repayment will be made in each installment/kloc-. Now pull it with EXCEL.

As can be seen from the right table in PPT, the interest rate calculated by IRR method is 1. 19%, and the actual annualized interest rate is 15.2 1%! Far more than our imagination of 7.92%, nearly double the difference! There are pits everywhere in life. Maruya suggested that everyone should be calm for three seconds and think rationally when making any decision.

When it comes to smart fixed investment, we have to mention our fixed investment smile curve, which perfectly explains why fixed investment makes money.

Take the Shanghai Composite Index as an example. Since the opening of the A-share market, there have been three big smile curves, not to mention countless small smiles.

To put it bluntly, the index cannot fall into a negative number. As long as you can stick to the fixed investment, level the cost to a certain low level, and then wait for the bull market or rebound, and pay you back with interest in a few years. Of course, I am only talking about the theoretical fixed investment index. There are still various risk factors to be considered in the implementation of the fund, such as poor fund managers, erratic style, rat warehouses and the fund facing liquidation.

The smart fixed investment, in fact, compared with ordinary fixed investment, the biggest difference is that it is not fixed. Intelligent fixed investment pays attention to investing more when it falls, and investing less when it rises to maximize income. We can still understand it according to a calculation problem.

Suppose that points A~E in the above figure are the price trend of a fund. Xiaoming starts to make a fixed investment from point A and makes a profit at point E (point E does not invest). Average fixed investment at points A, B, C and D 100 yuan; Intelligent fixed investment is based on the blue dotted line, and the low investment is doubled and the high investment is halved, so we will invest 65,438+000 yuan in benchmark positions B and D, 200 yuan at point C and 50 yuan at point A. After maturity, which method has higher yield?

The calculation process is as follows:

In this way, the 200% return rate of smart fixed investment far exceeds the 125% return rate of ordinary fixed investment, because on the basis of ordinary fixed investment, smart fixed investment pays more attention to buying in large quantities at low positions and reduces the holding cost; Buy as little as possible at high positions to prevent increasing costs. I have talked about the strategy of smart fixed investment in the official account of WeChat before. Friends who need to know can read my historical article "A very clever method of fixed investment, you will like it" on WeChat official account.

This is actually a matter of timing. Although many theories say that you can buy with your eyes closed, most of them are imported from the west, especially Buffett's investment theory and betting index funds, which have far-reaching influence in China.

Buffett has repeatedly said in public that "by investing in index funds, investors without professional knowledge will actually do better than most professional investors". Yes, but what works in America may not be applicable in our country. As I said in the last sharing class, the American market is long-term, while China's market is a "short bull and long bear". Choosing the right time and method to enter can get higher returns.

If the market is divided into four different situations: unilateral rise and unilateral fall, "∨" type and "∧" type, is it a fixed investment or a one-time investment? How to choose?

First, study the unilateral rising market. I drew a unilateral rising line. Suppose the fund rises from 2 yuan to 10 yuan in five months, with a fixed investment of 1000 yuan per month. According to the formula we mentioned earlier, it can be calculated that the cumulative yield of fixed investment is 128.33%, and the one-time investment is 400%, which is obviously stronger than the fixed investment.

Then there is the unilateral decline of the market. Through calculation, we know that fixed investment is better than single investment:

In the "∨" market (smiling), the return of fixed investment is better than that of single investment:

In the "∧" market, the performance of fixed investment is weak:

Final summary:

Ok, that's all for today. In the next issue, I will push the next scheduled live sharing class according to the actual market situation and actual operation methods.