Let's take a look at a week in Xiong Ji. After saving for half a year, it all fell down in a few days:
The above table is a group of funds that fell the worst last week, and the heavy real estate stocks are the most painful.
However, let's ask ourselves, have the funds you have held that have fallen sharply brought you a lot of floating profits?
I don't know if you are, at least the fund in Cai Ji's hand is like this. I also suffered heavy losses in this small stock market crash. I reflected on the operation and shared the lesson of blood with you:
First, discipline is very important.
The most painful thing this time is that I can't abide by the discipline of taking profit, and I still want to go up if I go up. Caiji once wrote an article about the method of fixed investment+target profit-taking. Here is a brief review:
The goal of taking profit, as the name implies, is to set the expected target for the fund with fixed investment. When the target is reached, you can start a new round of fixed investment with confidence. This method is especially useful in turbulent cities and is very suitable for office workers who have no time to learn financial management.
What kind of profit-taking target should be set?
There are usually two methods: one is to set a small goal according to your risk preference, which is generally between 10%- 15%, and radical ones can also set 20%;
The second method is to look at the changes in the market environment. When we enter the craze, it is time for us to leave.
The simplest indicator is to look at the newly developed funds. When the 30 billion Big Mac Fund came out a while ago, it was actually time to remind us to go. Even if we don't want to leave, there will be a lot of floating funds with profit-taking demand in the stock market.
Second, about value investment.
In the past two years, we must talk about value investment. The real value investment should be to buy good goods cheaply. However, what we see is that the white horse stocks have gone up and up again, and they have long been cheap. Just because the trend of institutional unity has been formed, they are all rushing forward in inertia. This group will always collapse at a dangerous tipping point.
Third, about transaction costs.
If your fund has lost money, should you stop loss? I told you last week, don't jump up and down, we don't encourage short-term speculation.
Because the short-term transaction cost of the fund is really high, the latest regulation is to charge a penalty of at least 1.5% if it is held for less than 7 days.
If you plan to hold it for a long time, you might as well buy more and more. If it is an active fund, the simple standard of a good fund is to rise more and fall less; If it is a passive fund, look at the valuation of the index and the accuracy of tracking the index.
Amid the wailing, China Post Double Power (00057 1) ranked first, with a positive income of 1.73%. Of course, it was because I stepped on LeTV that I adjusted the valuation low enough and opened the board in advance, but I earned a little.
In theory, there is room for arbitrage in LeTV's resumption of trading, but the investment and risk of this arbitrage far outweigh the return, and it took a long time to make a profit 1%. If you are not an arbitrage enthusiast, there is really no need to take this risk.
I'm not in the mood to buy a new fund after the stock market has fallen like this. I'm afraid the collection of these funds will be bleak, which may set off a new wave of fund extension.
Interestingly, these funds are all quantitative and come from four companies: Guangfa, Galaxy, Central Europe and Changxin.
Although if you are an old user of novice financial management, you must have experienced the stock market crash of 20 15 and the fuse of 20 16.
Looking back on the past slump, we can see that:
Stars fall, and mines are frequent.
Funds with floating losses exceeding 50% abound, and many funds have no stop-loss discipline;
Many funds simply follow the trend without their own independent thinking;
Many funds can't choose the right time, so they can only choose 80% stock positions to fight.
What about those funds that can choose their time? They can escape from the first day, but not from the fifteenth day.
After the disaster, we also saw:
The market has opened up a brand-new style.
Some funds predicted risks before the stock market crash and saved fuel.
Some funds went bankrupt and were forgotten by the new world.
Some funds have climbed from the bottom and hit new highs.
Therefore, the old vegetable friends who have experienced great storms are really not afraid to encounter this sewer.
Finally, to tell the truth, if the stock market does not fall so much, but continues to rise and rise, although this Spring Festival is better, I am afraid I will be sad N times when I come back.
Only by establishing your own investment philosophy and methodology and learning to manage your emotions and desires can you find the real New Year's red envelope from the market.