Fund: band operation PK is held for a long time.
All fund companies are singing "the same song": "Funds are long-term investment tools. You don't have to care about short-term ups and downs, and you can't go in and out as frequently as stocks. Otherwise, you will not only spend a handling fee, but also buy a top price and sell a bottom price. Only by holding it for a long time will you get rich benefits. " Many financial planners also joined the chorus.
However, this concept has been ruthlessly impacted and challenged in actual combat. On June 5, 2007, Mr. Wang purchased a basic value growth fund, and the yield reached 50% in June 65438+1October 65438+June of the same year. He wants to "sell at a high level and make a profit." The bank financial planner told him that he would continue to hold the fund for a long time. One year later, on June 5, 2008, the yield dropped to 16%. After a continuous plunge in 2008, it lost 25% by the end of the year and finally made a profit of 34% on February 26 this year. He said with deep feelings: "It is by no means wise to blindly hold it for a long time without looking at the situation. If you sell at a high level and buy at a low level, the income will be much higher. "
There are many people who have Mr. Wang's experience and lessons. I bought the fund in the first half of June 2007 at 65438+ 10. I have held it for more than two years now, which is not short-term, but most people still lose money. Judging from the current stock market situation, it may not turn a profit at the end of the year. Holding for more than three years is still a loss!
As long as we are optimistic about China's economic development prospects, the fund can be regarded as a wealth management variety for the public to make money through long-term investment. But "long-term" is a vague concept, and how long is a long-term has no clear definition. Long-term investment is by no means a long-term holding after buying a fund. There is only one way to make a successful investment: buy at a low price and sell at a high price. There is no other way to make money. If the expected return has been achieved and the stock market is about to enter the downward channel, it should clear the position in time and take profits. If the stock market crashes after buying, redemption according to the pre-set "stop loss point" can avoid the loss from expanding. If you insist on holding for a long time at this time, you will only lose money or lose more and more. When the trend is upward, even if it is short-term, it can't be easily withdrawn and lose profit opportunities. For funds with poor performance after buying, it is necessary to adjust their positions in time.
Long-term holding or band operation have always been two complementary modes of operation, which are not contradictory, let alone mutually exclusive. It is unwise to insist on which operation method does not conform to dialectics. It should be organically combined, complementary and flexible. The correct concept of long-term investment should be "long-term investment mentality+moderate band operation", that is, under the premise of firmly believing that there is long-term investment value in the securities market, the rate of return can be improved through phased adjustment. Investing in the right fund at the right time, and their investment behaviors are the same, is the real long-term investment in the end. It is misleading for investors to simply emphasize the long-term investment, belittle and exclude band operation.
Of course, under normal circumstances, funds should not go in and out frequently, so as not to waste fees and lose the benefits brought by the rise. In fact, as long as people with a little experience in fund investment understand this truth, there is no need to publicize it over and over again. Rigid dogmatic emphasis on long-term holding, ignoring the trend, saying that "long-term is gold", belittling or even excluding band operation, violates the objective law of making money for investment funds, and is extremely unfavorable to returns.
Some financial planners said: "The stock market is difficult to predict, and professionals are still uncertain, not to mention retail investors. Band operation is easier said than done, and nine times out of ten it will be reversed. Investment tests endurance and endurance, and it is better to hold it for a long time. " This is another one-sided argument. Although it is difficult for anyone to accurately predict the short-term stock market, the medium-term trend can still be grasped. For example, it has been falling since June 2007 16, and a weak market pattern should be seen by February 2008. If we blindly promote "long-term holding" at this time, it is somewhat misleading.
There are generally two methods for band operation: one is band conversion, which uses the fund conversion function to convert stock funds into monetary funds when the stock market weakens obviously. The advantage is that T+2 can buy other funds in a short time, but the disadvantage is that it can only be converted in the same fund company; Second, buy after redemption. The advantage is that you can buy funds from other companies. The disadvantage is that the travel time is long. General equity funds need T+5 to T+7 to operate again.