Savings are the safest, but the returns are indeed too low. Many people treat funds as stocks and often say "how many shares of funds have I bought", "how to speculate in funds", "short-term "In and out" and so on. Some friends ignore the risks of funds. Seeing the high returns in the past two years, they regard funds as high-interest savings. These are some common misunderstandings that will greatly affect the mentality of fund investment. , so next I want to talk about the difference between funds, stocks and bonds. (1) The economic relationships reflected are different. From the moment we buy a company's stock, we become a shareholder of the company and enjoy the ownership of the company's assets corresponding to the shares; bonds are certificates of creditor-debt relationships that agree to repay principal and interest on schedule. The purchase of bonds reflects the creditor's rights and interests. Debt relationship; when investors purchase funds, they only entrust the fund management company to invest in stocks, bonds, etc., which reflects a trust relationship. (2) Investment objects are different. Stocks and bonds are direct investment tools. After the company raises funds, it mainly invests in the industrial field; while the fund is an indirect investment tool, and the funds raised are mainly invested in financial instruments such as stocks and bonds. It is an indirect investment method; (3) Investment returns vary with the amount of risk. Stock prices are highly volatile and are a high-risk, high-yield investment variety; bond interest rates are fixed and can bring a certain amount of interest income to investors, making them a low-risk, low-yield investment variety; funds invest in many Stocks, bonds and other types of investments can effectively diversify risks and are investments with relatively moderate risks and relatively stable returns. For some older people, since they usually purchase open-end funds through banks, they have traditionally had a high degree of trust in banks. Many people therefore mistakenly believe that funds are not much different from bank deposits, and even think that funds are not much different from bank deposits. Funds are high-yield savings. In fact, there is an essential difference between the two: savings deposits represent the credit of commercial banks, with guaranteed principal, fixed interest rates, and basically no risk; while funds invest in the securities market and have the opportunity to share the income brought about by the rise in the stock market and bond market. , you must also bear investment risks. Improper investment does not rule out the possibility of principal loss. In addition, many investors invest with the mentality of "speculating on funds" and apply their mentality and experience of gaining short-term price differences in the stock market to fund investment. They frequently buy and sell open-end funds in the short term, striving to make a few beautiful "short-term investments". ” or “band”, although it is possible to get lucky once or twice, the result will often end in disappointment. Firstly, the sum of the fund's subscription fee and redemption fee (about 2%) is not low. Secondly, the fluctuation of the fund's net value is much smaller than that of stocks. Thirdly, the arrival of funds is restricted by T+7 (including weekends). , so the fund is more suitable for long-term investments that pursue stable returns and low-risk funds. The relatively stable funds are currency funds and bond funds. Coca-Cola stock is not available domestically. According to different standards, securities investment funds can be divided into different categories: (1) According to whether fund units can be added or redeemed, they can be divided into open-end funds and closed-end funds. Open-end funds are not listed for trading, and are generally purchased and redeemed through banks, and the fund size is not fixed; closed-end funds have a fixed duration, during which the fund size is fixed, and are generally listed and traded on securities exchanges, and investors buy and sell funds through the secondary market. unit. (2) According to different organizational forms, they can be divided into corporate funds and contract funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; it is established by a fund manager, a fund custodian and an investor through a fund contract, which is usually called a contract fund. At present, my country's securities investment funds are all contract funds. (3) According to different investment risks and returns, they can be divided into growth, income and balanced funds. (4) According to different investment objects, it can be divided into stock funds, bond funds, money market funds, futures funds, etc.