The happiest thing about buying a fund is making money, and the most unhappy thing is losing money. Everyone wants to make money and no one wants to lose money. So how to buy a fund to reduce losses? This may be a question that all investors want to know. The following is what Xiaobian collected for everyone about how to buy funds at 202 1 and how to allocate funds at 202 1. I hope I can help you.

How can I buy a fund to lose less money?

First, underestimate the purchase.

If all the funds in the market are regarded as a market, each fund corresponds to a different plate in the market.

When we buy food, we all like to buy it when the price is cheap.

So is buying a fund. Funds also need to buy when their net worth is relatively cheap.

Only when the fund is relatively cheap can the bought fund make money.

If the fund you buy is too expensive, such as the GEM fund, the GEM fund rose too much some time ago and accumulated too many bubbles, reaching a high level, and the callback was the most severe recently.

It is this kind of high-level fund that you bought, and the natural loss is relatively large.

Therefore, when buying a fund, you need to understand two things:

First, the fund itself has gone up by 90%, which does not mean that you can go up by 90% even if you buy it.

Just like GEM funds, if you buy at a high level, you will not only earn less than 90% of the proceeds, but also lose money.

Only when the GEM is undervalued can you buy it and earn 90% when the GEM rises sharply.

Second, the asymmetry of stock market ups and downs.

In the eyes of investors, a drop of 10% and an increase of 10% will not return the capital. Actually, it's not. A drop of 10% needs to be increased by 20% to recover the cost, and a drop of 50% needs to be increased by 100% to recover the cost.

For example, it fell from 1 yuan to 0.5 yuan, with a drop of 50%.

However, to increase from 0.5 yuan to 1 yuan, it needs to increase by 100%.

This is the asymmetry of the stock market, which also tells us not to buy funds when the valuation of funds is high or the market is at a high level.

Instead, start buying when you are underestimating. When the fund goes up, buying cheaply is king.

2. Fixed investment or batch investment

The boss always believes that fixed investment is the only magic weapon to resist risks. Because the fixed investment enters the market in a small amount every time, the loss is not great. Even if you buy at a high level, you will reduce the cost price through constant fixed investment, and finally turn losses into profits.

For example, if the current net value of a fund is 1.906 and you bought it in 2.003, then when the fund falls.

We implement the strategy of "the more we fall, the more we will invest", and gradually reduce the cost price to below 1.906 yuan, so the possibility of returning to the cost is very high.

Or execute a fixed investment from the beginning, which can reduce losses and achieve the goal of earning more.

If you feel that the return on fixed investment is too slow, you can also invest in batches instead of one-time investment.

Divide the funds to be invested into 10 shares, one to build a position, and then add a position every time it falls, and it is more appropriate to use up 10 shares slowly.

In short, if you want to make more money with less losses, you must learn to take your time and invest slowly, so that you can really make money.

Third, position control.

The bull market is coming. No matter what happens to Man Cang, many investors are right. After buying it, they found it wrong. This is not a bull market at all.

At best, it is a structural bull market, which can't even break through 3500 points and starts to fall.

Great, I only have 40 thousand yuan on hand, and all I bought are funds. When I fell, I didn't even have chips to add positions. How can I get my money back?

So don't buy Man Cang. You must keep enough cash in hand to increase your position when the market falls.

Or rationally allocate the ratio of stock funds to bond funds, buy more stock funds when the stock market is good, and buy more bond funds when the stock market is bad.

Even Warren Buffett holds a lot of cash and bond funds when investing. The purpose is to quickly bargain-hunting after the plunge, increase the proportion of stocks and earn more money.

If you only have 40,000 yuan on you, according to the current high level, you can invest at most 1000 yuan, and the rest will be used to make up the position.

If your total principal is only 5,000 yuan, don't invest 5,000 yuan directly. Try the water with 500 yuan first.

In short, position control is very important, especially in a volatile market. You never know when it will fluctuate and when it will fall.

This is a taboo, so it is important to remember that you don't want Man Cang. Only by controlling your position can you reduce your losses.

Buying a fund wants to lose less than others. In fact, you should know the investment discipline, buy when you should, watch the cash in your hand when you shouldn't, wait for the opportunity and win with one blow.

202 1 what is the layout of the fund?

Sun Wencun, deputy general manager of the asset allocation department of China Ping An Life Insurance Company of China Insurance Company, shared his views on the economy and market in 20021year from the perspective of large-scale asset allocation. He said that from a macro perspective, the global economy will recover in 20021,but it may still be in the process of fighting the epidemic, and loose liquidity and monetary policy will not change. On the whole, China's economic recovery is in good shape, showing great advantages and efficiency in epidemic control, so the domestic economic performance in 20021year will be better than that in the world. At the same time, domestic liquidity will be in equilibrium.

Sun Wencun believes that the annual interest rate of 202 1 is expected to rise. In the stock market, the cumulative increase of consumption, medicine, new energy and other sectors has been high, so the potential market income of these sectors in 20021year will be lower than that in 2020. And 202 1 industries with faster performance recovery will have better allocation opportunities. In addition, Hong Kong stocks will lag behind the major global markets in 2020, so they may perform better at 202 1.

Another person from the insurance institution attending the meeting said that in the short term, there may be staged opportunities in industries with relatively low valuation and related to economic recovery, such as banks and other traditional post-cycle sectors. But in the medium and long term, it is suggested to look for some varieties with growth trend. Growing varieties are not only hot spots at present, but also limited to consumption, medicine and TMT. Growth stocks can also be found in traditional industries.

As an emerging force in the capital market, the bank financing subsidiary has a relatively stable allocation angle. Jin Ge, vice president of Yin Hui Wealth Management Co., Ltd. said that 202 1 may be a complicated year, so we are more optimistic about long-term products, with consumption as the main allocation, supplemented by technology, brokerage and finance.

Zhang Feng, general manager of Agricultural Bank of China Huili Investment Department, believes that the 202 1 market may face obvious style switching. Since 20 19, the market has experienced a continuous rise for nearly two years. In the long run, there is bound to be a demand for returns. On the whole, the allocation direction of Public Offering of Fund is relatively concentrated, and there are many discussions on consumption, medicine and new energy. However, Zhang Feng believes that this situation may change in 202 1, and some industries with low valuation need to attract more attention.

Since 2020, the circulation of Public Offering of Fund has hit record highs, but how should individual investors choose in the face of a dazzling array of new funds? In this forum, professional fund managers also gave their own suggestions.

Chen Zhenyu, deputy general manager of anxin fund, said that there was no systemic risk in 202 1. "What we care about is whether we can find stocks with higher risks and returns to build a portfolio." He believes that the unpopular plate in the market is a good choice to obtain absolute income; In terms of relative income, we are optimistic about the leading stocks representing the future direction.

Chen Zhenyu believes that consumer stocks are still worthy of long-term attention, because their business models have inherent advantages. If we only look at it in the short and medium term, consumer stocks will inevitably rise and fall due to their inherent business cycle.

Zhang Ning, the research director of minority investment, is also optimistic about the consumer track for a long time. He believes that the industrial structure, market value ratio and investor position structure of A-shares are gradually in line with international standards, and with reference to the experience of mature economies, various industries in the future will also show the characteristics of overseas mature markets-strong and strong. At the same time, he is also optimistic about banking, insurance, real estate and other industries. The extremely low allocation ratio of institutional investors and the extremely low historical valuation level make the risks and returns of such investments relatively high at present, and the long-term stable inflow of funds pursuing absolute returns will also increase the allocation of such varieties.

Qiu _ _, the proposed fund manager of Guangfa Fund, believes that the valuation differentiation of the future capital market is relatively certain, which is the performance of market maturity and the performance of investors' pursuit of long-term income. He said that companies that truly stand on the trend of industrial development, have excellent management and continuous improvement in performance have better investment opportunities, no matter how the market funds are played.

Huang, director of investment research department of Huaxia Fund, said that he is optimistic about the economic fundamentals of 202 1. In the case of relatively optimistic economy, the performance of domestic assets is guaranteed and will not pose particularly great risks. At the same time, Huang pointed out from the perspective of relative income that in fact, some suboptimal varieties are also worthy of attention, and many suboptimal tracks and suboptimal assets with good texture are not highly valued at present.

Chen Gongwen, deputy general manager of Debon Securities Financial Market Management Headquarters, specifically pointed out the investment opportunities for publicly offering REITs products in the future. He said that the public offering of REITs is an important reform and innovation in the capital market. Judging from the overseas market, the publicly offered REITs products are mature, and the yield is outstanding compared with the average market level in the same period. At the same time, REITs have low correlation with traditional bonds and stock assets, which is of great significance to the decentralized allocation of large funds.

How to shop around for funds?

A simple shopping problem, suppose that when buying shoes, we are faced with two choices:

Option A: A pair of artificial leather shoes with an explosion rate of 99. The advantage is that it is cheap and beautiful. The disadvantage is that they may be of average quality and not very durable. It is estimated that it will not be worn after 202 1.

Choose B: 499 yuan a pair of leather Oxford shoes, the advantage is good-looking, strong, or famous brand, the disadvantage is one word: expensive.

What would you choose?

Actually, the answer is simple. The poor will choose A with a high probability, and the rich friends will choose B with a high probability.

However, if there is a choice of C at this time-discounted classic leather shoes, as long as 250, then I believe that 80% of people will choose C.

There is no reason, because it has the advantages of A and B, the discount reduces its price, the cowhide increases its durability, and the classic model also adds points to its versatility, which can be said to be the king of cost performance!

If we are more scientific, we can use a simple numerical ratio to explain our selection process.

Assuming that artificial leather shoes can be worn for 1 year and leather Oxford shoes can be worn for 3 years, the quality coefficient of artificial leather shoes is set to 10, and that of leather Oxford shoes is set to 30.

From this, we can set a "cost performance ratio", that is, "What is the quality coefficient we can buy per 10 yuan?" The results are as follows:

As can be seen from the table, 250 yuan's discounted real leather shoes have the highest cost performance, that is, at the same price, it "bought" the best quality coefficient, so this is why most people choose C.

But if there is no such "cost performance", as consumers, we may still choose goods according to our own preferences.

For example, if you value brand value, you may buy 499 yuan of real leather shoes; If the living expenses are not enough recently, it is estimated that shoes in 99 yuan can also meet our needs.

Although these two kinds of purchases are obviously not as cost-effective as buying a pair of discounted real leather shoes in 250 yuan, we actually have no more ways.

Because in the purchase of goods, our subjective will accounts for the vast majority, which makes us more inclined to "buy whatever we like."

How to choose a "cost-effective" fund in investment?

Usually buying goods depends not only on the cost performance of this product, but also on whether you like it or not, whether it has brand value and so on.

So the goods we buy are not necessarily the most cost-effective, but what we like.

In investment, the pursuit of "cost-effective" funds is very important.

No one will buy a fund because the name is nice, and no one will buy a fund because the manager is handsome.

As investors, we are very realistic at present, that is, "we must buy a fund that will make us money, preferably for a long time."

Among thousands of funds with similar names and similar investment scope, how to choose the fund with the highest cost performance is particularly important.

At this time, we have to talk about a magical index to measure the cost performance of fund investment-Sharp ratio.

Its English formula is as follows:

In ...

For the comprehensive rate of return,

For the risk-free rate of return,

It represents the risk index (standard deviation) of the portfolio.

Therefore, if the Sharp ratio is explained in common language, it means that you take the risk of 1 and how much profit you can get. Let's look at two more funds:

The excess return of Fund A is 50%, while the return of Fund B is only 30%.

So fund A must be better than fund B?

Don't! If you are a fund holder, your investment mentality may be like this:

Because the volatility of fund A is very large, it makes it possible for your net fund value to follow your mood all the time.

It's like going to the same place Others fall down after sleeping on the plane, but you have to go through 81 difficulties to get there. It's okay when the market goes up, not to mention how hard it is when it falls!

And if you are the holder of fund B, it may be much more comfortable. Your mental journey is roughly like this:

Look, it's smooth. Is it?

Very stable. Is it?

That's because although the yield of fund B is only 30%, its volatility is only 15%, which is only a quarter of that of fund A!

If you use data to explain, it is also very simple, just look at the sharp ratio.

Fund B's Sharp ratio is 2, that is, for every 1 risk, it can get a return of 2; The Sharp ratio of Fund A is only 0.83, and the return per kloc-0/risk is only 0.83! This is a great effort!

Is the Sharpe ratio omnipotent?

If the rate of return solves the problem of whether we can make money by buying funds, then the Sharp ratio solves the problem of whether we can make money in a long-term, stable and comfortable way.

After all, if the risk of getting a little return is too high, not only will there be a risk of "rollover" in the bear market, but the whole holding process will be terrible and the investment experience will be extremely poor.

Seeing this, some friends may be curious. Isn't buying a fund just to see the Sharp ratio? Don't look at the yield?

In fact, sharp ratio is not everything. If we sort according to the Sharp ratio in Cai Dong's choice, we will find that the monetary fund has the highest Sharp ratio? . Because there is almost no way out.

So how should the Sharp ratio be used?

Here Bian Xiao suggested that we should start with the past performance of products, find a few products with excellent past performance, and then use Sharp ratio to assist our investment decision when in doubt, and choose products with relatively high Sharp ratio. All right.