We all know that there are quite a lot of stocks in the market, so it is impossible for us to screen and analyze every stock. So many investors will copy some excellent fund managers' homework. So can copying the fund manager's homework get higher returns? Let's pay attention together.

Can the fund manager copy his homework?

Yes Because the stocks studied by fund managers are all screened at different levels, excellent fund managers have strong professional knowledge and practical experience. As investors, you can see these screened high-quality stocks, and you can also judge the current market situation by integrating the positions of multiple funds. Through the distribution of industries, we can see what are the key layout industries.

But we can't completely copy without brains, mainly because of the following points.

1 information lag: there will be a time lag from the beginning of opening or adjusting positions to the announcement of shareholding information. However, the stock market is changing rapidly, and we are one step behind and may even buy at a high point.

In addition, we can't fully understand the investment strategy of fund managers, so we don't know its value and industry trend, so it is difficult to sell it at the right selling point.

2 Risk dispersion: Because fund managers hold dozens of stocks and hundreds of stocks, the risks are very dispersed, so even if some heavy stocks lose money, they have the opportunity to make up for the losses caused by choosing the wrong stocks. But for our individual investors, if we copy the fund manager's heavy stocks, there is usually a risk of high industry concentration, and it is difficult to spread the risks.

3 Unpredictable performance: Although excellent fund managers can often control the storm, it is also possible that their investment style and concept are highly compatible with the market for a period of time, thus having extremely high returns. Therefore, historical performance does not represent future performance, and there may be new changes in the next stage.

Generally speaking, although the fund manager's homework is good, it can't be completely copied. We still need to make a decision according to our own investigation.