Because the "88 curse" means that Public Offering of Fund's position has reached more than 88%, which means that Public Offering of Fund has lost the ability to add positions and can only sell or change positions, which will cause the stock market to fall.
So, does this statement make sense? Besides the "88 Curse", what other curses are there in Public Offering of Fund?
1.88 spell
In fact, in San Sijun's view, the "88 curse" is not necessarily related to the correction of the stock market.
Because when the stock market is good, a large number of investors follow suit to apply for funds, so even though Public Offering of Fund's position has been very high before, there are new capital inflows, so Public Offering of Fund's position may still decline. ?
Similarly, when the stock market was depressed, many investors with limited risk tolerance redeemed the fund, so even though Public Offering of Fund's position was very low before, investors redeemed it, so Public Offering of Fund's position may have become higher.
Also, with the development of the financial industry, the main institutional investors in the A-share market are not only Public Offering of Fund, but also insurance and northbound funds.
Take Beishang Capital as an example. At present, the scale of capital investment in A shares in Northbound is similar to that in Public Offering of Fund.
Therefore, even if Public Offering of Fund's position is high, there will be capital inflows from the north, insurance and other funds.
2. The new fund explodes to sell the curse
Generally speaking, when new funds break out, it is often when the market is overheated.
Because from the perspective of behavioral economics, human behavior is irrational. When the market is depressed, no one will buy funds. Only when the market is good will someone buy funds or even snap up funds.
Therefore, many careful friends found that the performance of these new funds during the opening period was not very good.
The reason is actually that the new fund issued at a high level in the market stage is opened, which is equivalent to taking over. After the completion of fund opening, there may be a correction in the stock market. Therefore, it is not difficult to understand that the performance of these hot-selling new funds is usually not very good during the opening period.
3. curse of the champion fund
For the curse of the champion fund, I believe that friends who often read think twice articles should be more clear. Simply put, it is the performance champion fund of the previous year, and the performance behind it is usually bleak.
Because risk and income are always in direct proportion, the higher the income, the greater the risk.
The reason why the champion fund can become a performance champion is not so much the management ability of the fund manager, but rather that the fund manager gambles on the risks and pursues these well-rising sectors or concepts. ?
According to relevant data, there are more than 6,000 Public Offering of Fund in China at present, so there will always be some funds that can bet on risks and markets and become champion funds.
However, fund investment can't hope to bet on these outlets, because no one will be lucky forever.
Therefore, in the long run, only those funds that insist on value investment in a down-to-earth manner and are not keen on concept or theme speculation can go far.
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