After Tomb-Sweeping Day, investors are optimistic that A shares will continue their pre-holiday gains. Unexpectedly, A shares opened higher and went lower. After two days of adjustment, the stock held by the fund fell, which also affected the net value of the fund. How should fund investors cope with the ever-changing market? Today, Bian Xiao will share with you whether to make adjustments after the encounter, for your reference only!
1. Why will the market be adjusted again?
Jufeng Investment pointed out that the recent adjustment was mainly due to concerns about the market, which made it impossible to release the trading volume. First of all, the recurrence of overseas epidemics has dragged down the pace of global economic recovery; Secondly, the concern about the upward trend of US bond yields is actually the core factor affecting the once-falling of high-valued varieties in the world. At present, there is still room for the yield of US bonds to rise, and the height may rise to 2% during the year; In addition, the valuation of domestic core assets is still not low. After a wave of adjustment, the market pricing system has changed, and many core assets are still concentrated, and the valuation is not low. The market is still worried about high valuations.
In fact, for the trend of A-shares, most of the fund managers interviewed believe that the next step may still be to shock the market and be optimistic about low valuation and cyclical stocks.
Yang Delong, chief economist of Qianhai Open Source Fund, said that the current A-share market has gradually entered the stage of shock and rebound from the previous unilateral decline, and the confidence of the market is gradually picking up. This round of decline is mainly due to the market, rather than fundamental changes. There is no difference in the fundamentals of these white stocks, mainly the valuation level.
"Recently, the major broad-based indexes of A-shares have all performed strongly, but * * * is characterized by shrinking trading volume to varying degrees, indicating that the market lacks * * * knowledge in its current position." Xia, the fund manager of the future star of private placement network, said.
"From the current market point of view, the price of core assets is reasonably expensive, and the valuation of pro-cyclical stocks after the Spring Festival is no longer cheap. The market lacks the motivation to rise further. We believe that the next step will be to impact the market structure. " Wang Chunxiu said.
"The valuation of some core assets is still high, and it is difficult for the market to do it overnight. The short-term focus is still on performance, and the market still has strong structural opportunities under the catalysis of a quarterly report. It is recommended to pay attention to the cycle leader who benefits from the price increase in the middle and upper reaches, the midstream manufacturing sector of economic recovery, and banks with low valuation. " Lang Chengcheng said.
Zhuang _ You, an investment researcher, believes that the current market stock game is obvious, the trading volume has not been effectively enlarged, and the wait-and-see mood is strong. Continued further rebound requires the market to form a unified force. The previous market crash has released greater risks. At present, the market position has gradually become relatively reasonable, the rotation of industry sectors has begun, and some stocks have already seen better buying points.
Second, do you want to adjust the fund in your hand?
When losing money, we must first analyze the overall situation in combination with the market, whether it is the overall problem of the market or the industry sector, the problem of the fund manager or the problem of its own allocation. Find the right reason first and then find the right one, instead of operating directly according to the value of the fund loss. If it is because of the market or industry sector, it is force majeure and we need to decide whether to stay or not subjectively. Under normal circumstances, most funds still belong to long-term holding varieties, which can still bring good returns in 2008, so unless it is an extreme market, it is better to watch more and move less as much as possible.
If the market style changes or the theme industry is outdated, we should also consider changing the base, so as to obtain phased benefits.
Regardless of the bull market or bear market, there will always be structural opportunities in a certain style or sector, or an industry will be stimulated. For example, in the past two years, the market has switched from a growth style to a value style. Some investors want to have it both ways, so they will turn their growth funds into a value fund. If the timing is accurate, they will get a lot of benefits within six months to one year.
However, it is worth noting that if we want to obtain phased benefits, we must pay attention to its time effect and have certain judgment ability on the industry or theme; Moreover, the staged operation style will also make us lose investment opportunities when the growth style is at the bottom of the market; At the same time, we should also pay attention to the appropriateness risk. For a fund with a single style, it is greatly influenced by policies, with concentrated risks and large fluctuations in performance, which is more suitable for investors who are sensitive to the investment direction and act boldly. On the contrary, investors with low risk preference need to do what they can.
Third, how to adjust?
1, position control, leaving room.
Just like stock trading, the position of funds also needs to be controlled. When hot funds want to start, don't rush to invest in the whole warehouse, or simply redeem the most profitable funds to chase.
For investors with light or short positions. We can make full use of the current market to adjust and add positions, but we must grasp the rhythm of adding positions. Although the valuation is very low, it is also the bottom area, but it does not mean that the market will reverse immediately. There must be a process of repeated shocks. Don't act in a hurry. Every time the market drops by 65,438+00% every week or month, you can increase your position by 65,438+00%. If you want to make a fixed investment, it is suggested that you can make a large fixed investment.
For investors with heavy positions, the best way at present is not to rush to bargain-hunting. Although the market may make a comeback at any time, you don't know when it will appear. Don't put all your eggs in one basket. These investors are advised to keep a certain distance from the market and not to check their accounts frequently. There is always a loss and a win in investment. At this time, you need to enhance your self-confidence. At the same time, we should be prepared for long-term holding, and don't expect to return it in the short term; Finally, when the market rebounds, we must adjust our positions to the stage where we can sleep peacefully.
Usually, the position can be controlled on the 5-7 floors, and it can be retired. This autumn, students with positions above the 8th floor or in Man Cang are very uncomfortable. Some people survived the first wave of decline, but in the second wave of decline, they just cut their meat and left. So! No, Man Cang, there must be bullets!
2. Variety distribution pays attention to "scattering"
Decentralization means "everything, rain and dew, stock and debt, value growth". Buying a little at the same time is not to ensure that we earn more, but to make us very peaceful.
When a sector rises with the broader market, the fund with similar positions will increase more evenly, so a sector and variety can buy about 1.
Industry theme funds fluctuate greatly, for example, they rose better some time ago, and the retracement was particularly large. It is not surprising that liquor, medical care and other industries will retreat by 20 points. In addition, the military industry, semiconductors, new energy, science and technology 5G and other sectors can not take more, and the fluctuations are too great, and some sectors bear the market all the year round.
It is suggested to give priority to high-quality mixed funds, supplemented by industry foundation. The total number of funds is within 10, and about 5 is the best.
3. Pay attention to "balance" in the allocation of funds.
Balance means paying attention to "income and expenditure, consumption and investment, short-term and long-term, present and future".
Don't use 1 month's emergency money to buy closed-end funds, and don't put all the money that has not been used for a long time on a regular basis.
Therefore, if the holding fund needs to be adjusted, it can be measured by the above three points. The fund itself is a low-risk investment, and frequent operation should not be self-defeating.
Finally, investors who increase their positions in proportion, sell at high prices and raise funds at low prices, or investors who make long-term fixed investment need to have good psychological quality and abide by strict discipline in the face of losses. If we are eager for success or afraid of losing money, we may fall short. There is no market that has been falling. Although the domestic market has the characteristics of short bulls and long bears, in the long run, the securities market in any country is upward, and it will definitely reverse when it falls to a certain extent. Fund management pays attention to long-term holding, and friends should not directly hold heavy positions. Man Cang should do it, don't think about getting rich overnight. Fund financing is our lifelong career.
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