Those who can be fund managers are genuine. They generally graduated from famous universities with a master's degree or above. After years of experience in the physical industry or financial market, I have rich experience in industry research and then become a fund manager step by step.
These professionals are more professional than ordinary investors in investment methods and strategies. So how do fund managers invest in funds?
Here we take the investment theory of He Shuai, an excellent fund manager of Bank of Communications Fund, as an example to make an analysis. Let's see what we ordinary investors can learn from.
Pay attention to the absolute return of funds, and the starting point of fund investment should be "absolute return". If the stock market is judged to be a bear market, the positions of stock, index and hybrid funds should be as low as possible. Of course, investors with long-term fixed investment can ignore this point, but they should stick to it.
Make full use of the relationship between equilibrium probability and odds, and tend to earn 20% yield with 80% probability, go where you can see clearly, and earn what you can.
Learn to take profit reasonably. When the investment performance-price ratio of varieties has been greatly reduced, it is necessary to take profits in time and find other investment opportunities with much better performance-price ratio.
Insist on investment, not speculation, what we want to do is value investment. Therefore, if a company's short-term price rises a lot and overdraws its long-term implied rate of return, it should lighten or even clear its position.
There is no perfect investment strategy in the world. He Shuai himself admits that the fund he is in charge of often doesn't perform very well in the big bull market, including putting too much emphasis on safety in the valuation and determination of risk coefficient, which makes his fund miss some good and popular industries.