hseilio

sadfi sldfwlo j9iwelm ls jeo

Shipping point in time for the Futures Thinking

In personal opinion, as long as the average futures investors have a certain ability to learn, through technical as well as the fundamentals of inspection, the overall trend of the big judge their accuracy rate of at least 50% or more, or even much higher with this. Difficult to grasp is that an approach point and, unlike the stock futures can be patient and hold, futures investors are often encountered in practice be "apprenticeship Czech Republic, the body is not the first death" desolate. Approach point and will have a direct bearing on whether the ship calmly and whether they can weather the short term or even a longer period of disruption. Once the approach point and select appropriate, and the latter is the market for investors to determine a kind of pre-verified, it may make money, it may lose money, you may experience shock, it may encounter many other unexpected conditions, but investors and This reaction is mainly reflected in the choice of the shipping point in time.
 
From a certain perspective, investment in futures market or the stock market Ye Hao, including foreign currency deposit market or put it bluntly, individual investors and the market is actually an interactive process itself, investors through the fundamentals and technical investigation, to understand and master the information from the market, followed by the latter part of the trend of the market to generate a judge and then judged to operate; then the market is to investors, the audit stage, the independent movements of all investors are treated equally; Finally, there is shipping shows the trend of investors in the market re-reflection. The word "audit" the term seems a bit heavier, to better use "game" to the more leisurely and more lively. Futures Investment essence, is a "game", just as it involves too many interests too substantial and dignified.
 
On the individual and see, the choice of shipping point and entry point is far different approach from the stop loss point can be to control risk, and then control the mind. The shipping point, especially after a profit shipping point, the test is a person's wisdom, but in fact the greatest impact, or state of mind. Earned, if not, in case upwards, the profit taking is necessary; earned, assuming that out of the event down, I lose the more profits. This worry about the outcome of the mentality in operation, not only afflict me, and surely had plagued many of the investors. This process in the position of non-rational emotional concerns to a certain extent, can be said of investors in futures operation failed a very important reason, as its ultimate consequences resulting from loss more often does not stop, make a one thing only the surplus, and thus earn less losses and more make a small loss large, heavily loaded and gambling mentality will take root in this soil, and eventually burst warehouse fact it was just a matter of time.
 
Select shipping point is the last link in the investment process, the stock market said "We will buy the apprentice will be selling the master," futures market was also true that the case. In the specific operation of the shipping point to grasp for me is a very big problem, if each operation than to make a campaign, then for each campaign, not only to make their own access to the most trophies, but also the body and retreat, which requires not only the capacity of commander-spot decisions, but also need to be able to from beginning to end on a macroscopic level the ability to grasp the overall situation there is a. Their Long Way!

In personal opinion, as long as the average futures investors have a certain ability to learn, through technical as well as the fundamentals of inspection, the overall trend of the big judge their accuracy rate of at least 50% or more, or even much higher with this. Difficult to grasp is that an approach point and, unlike the stock futures can be patient and hold, futures investors are often encountered in practice be "apprenticeship Czech Republic, the body is not the first death" desolate. Approach point and will have a direct bearing on whether the ship calmly and whether they can weather the short term or even a longer period of disruption. Once the approach point and select appropriate, and the latter is the market for investors to determine a kind of pre-verified, it may make money, it may lose money, you may experience shock, it may encounter many other unexpected conditions, but investors and This reaction is mainly reflected in the choice of the shipping point in time.
 
From a certain perspective, investment in futures market or the stock market Ye Hao, including foreign currency deposit market or put it bluntly, individual investors and the market is actually an interactive process itself, investors through the fundamentals and technical investigation, to understand and master the information from the market, followed by the latter part of the trend of the market to generate a judge and then judged to operate; then the market is to investors, the audit stage, the independent movements of all investors are treated equally; Finally, there is shipping shows the trend of investors in the market re-reflection. The word "audit" the term seems a bit heavier, to better use "game" to the more leisurely and more lively. Futures Investment essence, is a "game", just as it involves too many interests too substantial and dignified.
 
On the individual and see, the choice of shipping point and entry point is far different approach from the stop loss point can be to control risk, and then control the mind. The shipping point, especially after a profit shipping point, the test is a person's wisdom, but in fact the greatest impact, or state of mind. Earned, if not, in case upwards, the profit taking is necessary; earned, assuming that out of the event down, I lose the more profits. This worry about the outcome of the mentality in operation, not only afflict me, and surely had plagued many of the investors. This process in the position of non-rational emotional concerns to a certain extent, can be said of investors in futures operation failed a very important reason, as its ultimate consequences resulting from loss more often does not stop, make a one thing only the surplus, and thus earn less losses and more make a small loss large, heavily loaded and gambling mentality will take root in this soil, and eventually burst warehouse fact it was just a matter of time.
 
Select shipping point is the last link in the investment process, the stock market said "We will buy the apprentice will be selling the master," futures market was also true that the case. In the specific operation of the shipping point to grasp for me is a very big problem, if each operation than to make a campaign, then for each campaign, not only to make their own access to the most trophies, but also the body and retreat, which requires not only the capacity of commander-spot decisions, but also need to be able to from beginning to end on a macroscopic level the ability to grasp the overall situation there is a. Their Long Way!

In personal opinion, as long as the average futures investors have a certain ability to learn, through technical as well as the fundamentals of inspection, the overall trend of the big judge their accuracy rate of at least 50% or more, or even much higher with this. Difficult to grasp is that an approach point and, unlike the stock futures can be patient and hold, futures investors are often encountered in practice be "apprenticeship Czech Republic, the body is not the first death" desolate. Approach point and will have a direct bearing on whether the ship calmly and whether they can weather the short term or even a longer period of disruption. Once the approach point and select appropriate, and the latter is the market for investors to determine a kind of pre-verified, it may make money, it may lose money, you may experience shock, it may encounter many other unexpected conditions, but investors and This reaction is mainly reflected in the choice of the shipping point in time.
 
From a certain perspective, investment in futures market or the stock market Ye Hao, including foreign currency deposit market or put it bluntly, individual investors and the market is actually an interactive process itself, investors through the fundamentals and technical investigation, to understand and master the information from the market, followed by the latter part of the trend of the market to generate a judge and then judged to operate; then the market is to investors, the audit stage, the independent movements of all investors are treated equally; Finally, there is shipping shows the trend of investors in the market re-reflection. The word "audit" the term seems a bit heavier, to better use "game" to the more leisurely and more lively. Futures Investment essence, is a "game", just as it involves too many interests too substantial and dignified.
 
On the individual and see, the choice of shipping point and entry point is far different approach from the stop loss point can be to control risk, and then control the mind. The shipping point, especially after a profit shipping point, the test is a person's wisdom, but in fact the greatest impact, or state of mind. Earned, if not, in case upwards, the profit taking is necessary; earned, assuming that out of the event down, I lose the more profits. This worry about the outcome of the mentality in operation, not only afflict me, and surely had plagued many of the investors. This process in the position of non-rational emotional concerns to a certain extent, can be said of investors in futures operation failed a very important reason, as its ultimate consequences resulting from loss more often does not stop, make a one thing only the surplus, and thus earn less losses and more make a small loss large, heavily loaded and gambling mentality will take root in this soil, and eventually burst warehouse fact it was just a matter of time.
 
Select shipping point is the last link in the investment process, the stock market said "We will buy the apprentice will be selling the master," futures market was also true that the case. In the specific operation of the shipping point to grasp for me is a very big problem, if each operation than to make a campaign, then for each campaign, not only to make their own access to the most trophies, but also the body and retreat, which requires not only the capacity of commander-spot decisions, but also need to be able to from beginning to end on a macroscopic level the ability to grasp the overall situation there is a. Their Long Way!

xunG     uploadeb     freaksharp


New York gold futures prices

The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.

The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.

The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.The dollar against the euro the impact of 22, the New York Mercantile Exchange gold futures contract in April fell 8.1 U.S. dollars an ounce to close at 1099.5 U.S. dollars, down 0.7%.


As the EU assistance within the debt crisis in Greece, were unable to reach agreement on the delay as investors worried about the rise of the euro against the dollar under pressure decline, to continue to run the vulnerable. Dollar-euro exchange rate, leading to preserve and increase the attractiveness of gold has been weakened as the day to suppress a major negative factor for gold lower.

In addition, the May delivery price of an ounce of silver futures fell 9.7 cents to close at 16.935 U.S. dollars, in April delivery price of platinum futures fell 7.3 U.S. dollars an ounce to close at 1601.3 U.S. dollars.

xunG     uploadeb     freaksharp


Securities accounts can afford to buy an open fund

In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)
In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)
In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)

 1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)
In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)

 1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)
In the securities market to buy open-end funds to open accounts.

    
There are two ways:

    
1. Securities business department to open fund accounts to buy to buy: a lot of alternative products, but not all, of the same costs and bank.

    
2. Shareholders of securities companies to open accounts to buy: Securities shareholders of the fund account can buy less, mainly to buy closed-end funds, ETF, LOF Fund, and entered the Shanghai SSE Fund-pass platform for funds.
(This article is taken from the gold-line Fund Network)

xunG     uploadeb     freaksharp


How to develop the Fund's long-term investment mentality

As a specialist financial fund investment products, promoted long-term investments and value investing. Therefore, in cultivating long-term investment mentality, for investors in terms of it is very important. Investors need to foster the following five fund investors long-term investment mentality.

First, not the pursuit of overnight riches, product revenue streams can claim the fund. That is concerned about the net to maintain stable and sustained growth, but with good habits dividend fund, the only way to keep up with the pace of the fund to grow and grasp the operation of the Fund beat, so that investment funds in an orderly manner, rather than continuously because of profit-oriented frequent operation of the product to the fund.

Second, from the life stage of the layout of the fund. Different stages of life of the Fund and the demand for the product to withstand the degree of risk is different. Childhood and adolescence by parents for their own growth to run a scheduled vote. In the youth and prime time, in line with their own conditions for investment, access to equity funds can be gradually, while in middle-aged and old age, compared to young and middle-aged, it should be more conservative investment, choose low-risk bond funds and currency market funds, is a good choice. Therefore, whether the investor at any given time, are able to find their own investment location. Thus, taking life planning, we can make long-term planning of investment fund products, rather than the fund products as a short-term, short-term investment operations.

Third, to play their own investment personality. Different investors have different investment interests and preferences, and different fund products more is a different risk return characteristics. Investors in the process of selection and investment fund products, it should be fully taken into account individual investment fund products, features, and with its own combination of investment character, which accompanied the growth of the fund products. Will not be configured with its own character inconsistent with investment fund products, while faced with the embarrassment of a passive adjustment or conversion.

Fourth, the proper positioning of investment fund products. Investment funds for life or increase the total income from property. We can say that the mentality shown are completely different. Investment funds to make a living will with a great utilitarian nature of the investment and thus difficult to establish a peaceful state of mind. But will it as a financial tool, investors will shift their attention to the energy, it can achieve good investment performance. Therefore, routine work and fund financial distinction between terms for investors, it is very important.

Fifth, to grasp the law of long-term growth fund products. The long-term bullish stock market, index fund investing is very beneficial. And as long as market conditions continued to improve, fund management and operation of the fund managers the ability to product worth looking forward to, investors can choose high-quality equity funds as an investment target. For bond funds, particularly money market funds, asset allocation determines the characteristics of the limited nature of its revenue and stability, therefore, take long-vote strategy, should take note.

As a specialist financial fund investment products, promoted long-term investments and value investing. Therefore, in cultivating long-term investment mentality, for investors in terms of it is very important. Investors need to foster the following five fund investors long-term investment mentality.

First, not the pursuit of overnight riches, product revenue streams can claim the fund. That is concerned about the net to maintain stable and sustained growth, but with good habits dividend fund, the only way to keep up with the pace of the fund to grow and grasp the operation of the Fund beat, so that investment funds in an orderly manner, rather than continuously because of profit-oriented frequent operation of the product to the fund.

Second, from the life stage of the layout of the fund. Different stages of life of the Fund and the demand for the product to withstand the degree of risk is different. Childhood and adolescence by parents for their own growth to run a scheduled vote. In the youth and prime time, in line with their own conditions for investment, access to equity funds can be gradually, while in middle-aged and old age, compared to young and middle-aged, it should be more conservative investment, choose low-risk bond funds and currency market funds, is a good choice. Therefore, whether the investor at any given time, are able to find their own investment location. Thus, taking life planning, we can make long-term planning of investment fund products, rather than the fund products as a short-term, short-term investment operations.

Third, to play their own investment personality. Different investors have different investment interests and preferences, and different fund products more is a different risk return characteristics. Investors in the process of selection and investment fund products, it should be fully taken into account individual investment fund products, features, and with its own combination of investment character, which accompanied the growth of the fund products. Will not be configured with its own character inconsistent with investment fund products, while faced with the embarrassment of a passive adjustment or conversion.

Fourth, the proper positioning of investment fund products. Investment funds for life or increase the total income from property. We can say that the mentality shown are completely different. Investment funds to make a living will with a great utilitarian nature of the investment and thus difficult to establish a peaceful state of mind. But will it as a financial tool, investors will shift their attention to the energy, it can achieve good investment performance. Therefore, routine work and fund financial distinction between terms for investors, it is very important.

Fifth, to grasp the law of long-term growth fund products. The long-term bullish stock market, index fund investing is very beneficial. And as long as market conditions continued to improve, fund management and operation of the fund managers the ability to product worth looking forward to, investors can choose high-quality equity funds as an investment target. For bond funds, particularly money market funds, asset allocation determines the characteristics of the limited nature of its revenue and stability, therefore, take long-vote strategy, should take note.

As a specialist financial fund investment products, promoted long-term investments and value investing. Therefore, in cultivating long-term investment mentality, for investors in terms of it is very important. Investors need to foster the following five fund investors long-term investment mentality.

First, not the pursuit of overnight riches, product revenue streams can claim the fund. That is concerned about the net to maintain stable and sustained growth, but with good habits dividend fund, the only way to keep up with the pace of the fund to grow and grasp the operation of the Fund beat, so that investment funds in an orderly manner, rather than continuously because of profit-oriented frequent operation of the product to the fund.

Second, from the life stage of the layout of the fund. Different stages of life of the Fund and the demand for the product to withstand the degree of risk is different. Childhood and adolescence by parents for their own growth to run a scheduled vote. In the youth and prime time, in line with their own conditions for investment, access to equity funds can be gradually, while in middle-aged and old age, compared to young and middle-aged, it should be more conservative investment, choose low-risk bond funds and currency market funds, is a good choice. Therefore, whether the investor at any given time, are able to find their own investment location. Thus, taking life planning, we can make long-term planning of investment fund products, rather than the fund products as a short-term, short-term investment operations.

Third, to play their own investment personality. Different investors have different investment interests and preferences, and different fund products more is a different risk return characteristics. Investors in the process of selection and investment fund products, it should be fully taken into account individual investment fund products, features, and with its own combination of investment character, which accompanied the growth of the fund products. Will not be configured with its own character inconsistent with investment fund products, while faced with the embarrassment of a passive adjustment or conversion.

Fourth, the proper positioning of investment fund products. Investment funds for life or increase the total income from property. We can say that the mentality shown are completely different. Investment funds to make a living will with a great utilitarian nature of the investment and thus difficult to establish a peaceful state of mind. But will it as a financial tool, investors will shift their attention to the energy, it can achieve good investment performance. Therefore, routine work and fund financial distinction between terms for investors, it is very important.

Fifth, to grasp the law of long-term growth fund products. The long-term bullish stock market, index fund investing is very beneficial. And as long as market conditions continued to improve, fund management and operation of the fund managers the ability to product worth looking forward to, investors can choose high-quality equity funds as an investment target. For bond funds, particularly money market funds, asset allocation determines the characteristics of the limited nature of its revenue and stability, therefore, take long-vote strategy, should take note.

xunG     uploadeb     freaksharp


Fund investment balance of the six standards for

With the continuous deepening of the investment activities of the Fund, the pursuit of comfortable with investing, obtain higher returns, as investors to choose the fund investment objectives. But to achieve this goal also requires investors to fund investment in real learn a balanced approach.
 
First, the balanced state of mind. Select a fund investment, do not buy a fund because it upset the rhythm of life, not a result of investments of the funds embezzled in life more valuable time. Balanced state of mind, is a natural state of mind, but also a transcendent state.
 
Secondly, a balanced portfolio strategy. As one of maturity and rational investors, but also between products in different funds, different investment products and between the re-mix of options to achieve risk diversification to achieve maximum benefits.
 
Third, the balance to invest their time. Fund performance changes in the environment and the securities market are inseparable. The stock market has some changes in the cyclical variation of Change. Research and analysis of stock market investors do not change characteristics, will not achieve the maximum return on investment. Short-term investments, frequent operation, a result of funds (recognition) purchase, redemption of high cost and difficult to achieve more profit accumulation.
 
Fourth, the balance of return on investment. Different market environment, to take a different approach to achieve gains to produce investment results are completely different. Cash dividends are considered acceptable to many investors as a practice of income distribution. But in bull market, dividends reinvested dividends but have a greater investment than cash benefits.
 
Fifth, the balance of investment risk. Investors in understanding and assessing the Fund's investment risks, it should be from its own investment reality, and the correct analysis and evaluation of the Fund's risk characteristics, do not overestimate the risks of stock funds, bond funds do not underestimate the risks of . Not only to realize that there is a risk the possibility of the Fund should also be aware of through the introduction of an effective mechanism to protect the safety of the principal investments of the Fund (such as the Guaranteed Fund).
 
Sixth, the balance of investment plans and goals. Investors at different ages, in the face there is a big difference in life to pursue. For children's education, pensions, preparation should begin investing in stocks funds or index funds, and make long-held plans. In order to marry the recent cost of travel plans to achieve goals garages, or should choose 2-3 years, short-term bond fund or money market funds, short-term gains in order to achieve the improvement and to meet liquidity needs.

With the continuous deepening of the investment activities of the Fund, the pursuit of comfortable with investing, obtain higher returns, as investors to choose the fund investment objectives. But to achieve this goal also requires investors to fund investment in real learn a balanced approach.
 
First, the balanced state of mind. Select a fund investment, do not buy a fund because it upset the rhythm of life, not a result of investments of the funds embezzled in life more valuable time. Balanced state of mind, is a natural state of mind, but also a transcendent state.
 
Secondly, a balanced portfolio strategy. As one of maturity and rational investors, but also between products in different funds, different investment products and between the re-mix of options to achieve risk diversification to achieve maximum benefits.
 
Third, the balance to invest their time. Fund performance changes in the environment and the securities market are inseparable. The stock market has some changes in the cyclical variation of Change. Research and analysis of stock market investors do not change characteristics, will not achieve the maximum return on investment. Short-term investments, frequent operation, a result of funds (recognition) purchase, redemption of high cost and difficult to achieve more profit accumulation.
 
Fourth, the balance of return on investment. Different market environment, to take a different approach to achieve gains to produce investment results are completely different. Cash dividends are considered acceptable to many investors as a practice of income distribution. But in bull market, dividends reinvested dividends but have a greater investment than cash benefits.
 
Fifth, the balance of investment risk. Investors in understanding and assessing the Fund's investment risks, it should be from its own investment reality, and the correct analysis and evaluation of the Fund's risk characteristics, do not overestimate the risks of stock funds, bond funds do not underestimate the risks of . Not only to realize that there is a risk the possibility of the Fund should also be aware of through the introduction of an effective mechanism to protect the safety of the principal investments of the Fund (such as the Guaranteed Fund).
 
Sixth, the balance of investment plans and goals. Investors at different ages, in the face there is a big difference in life to pursue. For children's education, pensions, preparation should begin investing in stocks funds or index funds, and make long-held plans. In order to marry the recent cost of travel plans to achieve goals garages, or should choose 2-3 years, short-term bond fund or money market funds, short-term gains in order to achieve the improvement and to meet liquidity needs.

xunG     uploadeb     freaksharp


Buffett, why are you so stupid

Graham, Buffett's mentor there, learned from the most important thing is to invest in security
   
When I take a taxi, often by some people considered themselves "skilled are bold" drivers scared scared. On one occasion, in the rain, the car's speed is 100 km per hour, I could not help but asked the driver to slow down the car: "suddenly come across a man or even a car how to do?"
   
"Accident is always there, walking on the road may also be falling upstairs to the smashed flowerpots."
   
This may be a number of drivers think. But I do not think so. There are many accidents in life is unavoidable. If it can be when driving accident, it could mean destruction. So, even though the road is sometimes a very spacious, I think it should still abide by the provisions of the speed signs on the drive.
   
Buffett's investment philosophy, one of the points as well. He has said that Graham where he focused on learning from their mentor, is the investment in security.
   
First half of 2000 was dramatic. First, Julian Robertson's "Tiger Fund" to close shocking. I believe the previous few years, many institutional investors are very envy "Tiger Fund" performance. Meanwhile, Buffett's Berkshire Hathaway in charge of the company's A shares from 1999 to March this year, down nearly half of the book value per share growth rate hit a 35-year low, only 0.5%.
   
But in April, the U.S. stock market began to slump, NASDAQ index fell nearly 30% this month, Buffett has earned 5.7 billion dollars. In this way, he also April 29 shareholders meeting to remove trouble. As far as "The New York Times" reported that a shareholder originally wanted to use tomatoes to pound Warren Buffett.
   
The previous day, with the "Tiger Fund" also the famous "quantum fund" have disappeared. Soros boss also announced the retirement of the fund managers.
   
"Tiger Fund" is the failure of the so-called traditional stock investments, which had been considered the most secure. "Quantum fund" failure lies on the investment in technology stocks, after the first big win is the big loser.
   
Obviously, if we are still persistent in the previous stage of "traditional stock" and the "new economy stocks," Who is who is worth investing in a bubble, there is no grasp the crux of the problem.
   
In the marathon, you want to go first prerequisite is to finish the course. Buffett often use a similar metaphor to describe their investment style. "Quantum fund" and "The Tiger Fund," has made the investment market over the first stage of this marathon, but did not finish the course.
   
Buffett Graham, especially in the early 30s the U.S. stock market crash of frustration experience, realized the stock market in all sorts of traps.
   
In 1919, Graham was 25 years old. That year near his home in Columbus Square, erected a big neon light. First came a night in the "SAV" (Sa I), and then came a "OLD" (alder), and finally to fight them together, they formed a "SAVOLD" (Sa I alder). Graham inquire about an original Sa I alder company plans to produce a division of the patent granted to the states, and these branches will also be 11 available.
   
Next, I alder Sa pile up the company's two subsidiaries listed on follow-up Graham looked at rising stock prices. At this time, there was news of Pennsylvania's Sa I alder will also be listed on the message, but the parent company's management announced plans to change the past - this would be the last one to be listed company and has the country outside of New York and Ohio, production and operating rights.
   
This means that the last chance. Graham spent 60 thousand U.S. dollars purchase.
   
Pennsylvania Sa I alder date of arrival of the stock listing requirements, but the transaction has not yet begun. Suddenly, all the Bodhisattva I alder shares down across the board. Graham has been confused, not knowing what had happened. A few months later, Sa I alder Companies in the market disappeared, it seems hardly existed.
   
By this time, Graham is still on the Sa I auld what was no knowledge of a company. After the investigation, he had come to a sad conclusion: "Sa the only real incident I Alder, only Nazuo standing in Columbus Square, the company's name on the flashing neon lights."
   
Is hard to imagine who later became the "Securities Analysis" father figure at a young age is so impulsive and rash. But it is the pain only so that Graham and the subsequent volatility of Buffett's investment circles and even the despicable bad vigilant and make a strong criticism of the system.
   
China Securities Regulatory Commission concluded Mr Anthony Neoh, chief adviser Buffett's investment philosophy, it will be summarized in three basic principles:
   
First, always bear in mind an enterprise book value, intrinsic value and the market there is a difference between the value of; second, the investment is based on the intrinsic value; and third, to invest as an owner.
   
Mr. Leung is indeed a deep cultivation, point out the crux of Buffett's words and deeds.
   
What is "intrinsic value"? Buffett is defined as: "It is a business in the remaining life can be under the discounted value of the cash generated." And "book value", the name suggests, is recorded in the company through the accounting method the value of the books.
   
Buffett had through the university education as a form of investment analysis, to say what the intrinsic value. Education's "intrinsic value" (not including non-economic benefits) is stated as: "We must estimate the graduates in his entire life in the absence of such education gains estimates. This gives us an excess earnings value, Therefore, an appropriate interest rate must be discounted to their graduation day. This revenue is equal to the calculated intrinsic economic value of education. "
   
How to calculate the "intrinsic value", is indeed every company and industry analysts, a required course. When the analysis concludes that the intrinsic value is much higher than market value, they recommended buying; the other hand, has sold.
   
If you read a different analyst on the report of the same company, the "intrinsic value" of the estimated sub-vary widely. Because it depends on each person on the future interest rate changes and cash flow estimates, and this difference is sometimes significant, but worse, the problem may be "the company the remaining life expectancy." Estimation of the value of intrinsic value and correction value of such a frequent and sharp fluctuations in market prices is inevitable.
   
Therefore, the "intrinsic value" of the estimates of the top half of most of science is art, it needs other external investigation and intuition. However, bearing in mind the "intrinsic value" in particular with "book value", "market value" are different from investor behavior is meaningful.
   
I'm here to give Graham a use of "intrinsic value" and "book value" of money story.
   
1911, the U.S. Supreme Court ordered the dissolution of the monopolistic nature of the standard pipeline company. This has a huge consortium of 31 companies, 8 companies come to the fore. At that time they are very small oil pipeline operator, responsible for transport of crude oil from various oil fields to the refinery. But no one has to understand the financial situation of these enterprises. Publication of their one-line-word "income account", recorded a net profit of the year, as well as a most brief balance sheet.
   
On one occasion, Graham browsing a Interstate Commerce Commission (ICC) annual report, would like to get some detailed information on the railway companies. In this report, the end, he found some statistical data on pipeline companies. These data indicate on the form, "from the company reported to the ICC's annual report."
   
Graham quickly got on a train bound for Washington, arriving ICC, into the archives to see if this eight pipeline companies in 1925's annual report.
   
So that Graham is surprising is that, all of these companies have the best huge railway bonds. Only a few companies in which the value of these bonds more than the full market value of its shares. And he also found that the pipeline company's total business small, but high profit margin. Companies do not need to invest in these bonds.
   
As a result, Graham in the market in the North pipeline companies have a total 4 million shares of 2000 shares, so that he has joined the Rockefeller Foundation's second largest shareholder, while the Rockwell Foundation, approximately shares of the company's 23%.
   
Then, Graham walked into the company headquarters office, to make recommendations to management. Companies engaged in financial needs has nothing to do with their bond investment is unreasonable. Clearly, the interests of the shareholders for splitting the assets. However, management believes that they know better than the oil industry, Graham, Graham, if they do not like it, you can sell their shares.
   
This is indeed the then rules of the game on Wall Street. However, Graham wanted to do a return to Don Quixote. Early in January 1927, he participated in the northern oil pipeline company's shareholder meeting. That the participants included five staff and Graham. Magically, the company's annual report was not ready, there, through its agenda.
   
Outcome can be imagined. But Graham was not depressed, but ready for the next year's operational plan. One hand, he bought more of the company's stock, on the one hand the use of the then unknown situation: Northern pipeline company is incorporated in Pennsylvania have passed laws that require companies elect directors through cumulative voting system. In this way, through all the proxy votes all of the above plus invested in one of the directors, even if only a minority of people support the shareholders can ensure their own election. In accordance with the northern pipeline 5 directors of the company's small board size, as long as 1 / 6 of the stock power of attorney could have been elected a director, as long as 1 / 3 power of attorney could have been elected two.
   
Graham personally to more than 100 shares of a shareholder lobbying, the right of ultimate control of the agency more than 1.5 million shares. In January 1928 the company's shareholders meeting, Graham and three lawyers finally yield management, shareholders of the "market value" of more than 110 U.S. dollars.
   
The reason I specifically will come from, "Graham autobiography," written in the story out first is because in the previous article had mentioned the matter, as a memento "shareholders movement" old-timers bar. The second reason is that it may be prompted Buffett's another way to achieve the company's intrinsic value.
   
I remember that earlier, "Business Week" had an article on Buffett's holding company reported all walks of life, giving the impression that he is an industrialist half of half a financier. True. Although Buffett is holding, or 100% to buy a business and buying shares in the market, there is no difference, but by controlling the company and management, he has maintained his own initiative, do not have to be as hard as Graham and passive.
   
Buffett in Berkshire Hathaway's annual report, detailing over their acquisition strategy. First, the object is large companies, at least 10 million U.S. dollars in after-tax profits; Second, a proven sustained profitability; third, a small amount of debt or no debt, the company's net capital gains in good condition; fourth, properly managed; fifth, the business simple; sixth, clear price. At the same time, he would not engage in hostile takeovers, and tend to acquire cash.
   
In addition, Buffett has also taken the trouble to explain these standards. For example, he stressed that his article on the "predict" the future are not interested in "reverse" situation is not interested. In particular, we should pay attention to the latter. Buffett seems to "turn around" a kind of quagmire similar to the U.S. after the Vietnam War veterans caught in anxiety.
   
Buffett certainly has had its own "Vietnam." Buffett partnership in 1965 bought control of Berkshire Hathaway right, and its book net asset value of only 22 million U.S. dollars, and invested in a textile mill at all. In 1967, Buffett also used cash generated by the textile business of the state compensation, the company entered the insurance industry. Subsequently, the Berkshire Hathaway's business are increasingly diverse textile mills throughout the company to gradually reduce the proportion.
   
Although to 1978, the mill has become a "tasteless", Buffett is still reluctant to part: "One of our textile mills located in their communities is very important to employers; 2, managers in reporting the issue was straightforward, in the solve the problem, spirited; 3, in the face of our universal problem, a partnership between employers and employees a smooth, cordial relationship. relative to the investment, textile mills should be able to generate adequate cash. provided that they meet these conditions - we hope so - despite the more attractive to invest in the funds, we will continue to support our textiles business. "
   
Mills was also a slight profit in 1979, but since then it has been the consumption of large amounts of cash. By July 1985, Buffett has finally decided to close the plant - since 1980, the United States has 250 textile mills have closed their doors.
   
Buffett this down the two conclusions. First, he has ignored the French philosopher Kamm's "emotional intelligence is the servant, rather than emotional slaves" advice, but believe that he would prefer to believe the source. Second, "one can count to 10 horses is an outstanding horse - but not an outstanding mathematician." Similarly, one can be rich in the efficiency of the Bank's textile industry is an outstanding textile company - but not an outstanding company.
   
But by this time Buffett on the largest holding large companies such as Coca-Cola and Gillette has an unparalleled self-confidence. He is based on the brilliant performance of these companies in the past. In the 1996 Berkshire Hathaway annual report, Buffett said he is studying 100 years ago, Coca-Cola Company Annual Report (1896), but when Coca-Cola has just come out about 10 years. The then president, Candler said: "About this year, beginning March 1 ... 10 ... We hired a systematic contact with the Office of the Traveling Salesman, so that we cover nearly the whole of America's territory." Although the year Coca-Cola's sales was 148 thousand U.S. dollars, while the 1996 has reached about 32 billion U.S. dollars, but Buffett's leadership ambitions at that time and effort is still amazed.
   
Moreover, Buffett continues to believe that the two companies over the past 10 years, a huge market share will continue to increase, "All signs indicate that the next 10 years they will achieve better results."
   
Buffett's not that worried about the "great company's management personnel" to be wrong, especially when they lose the company's basic objectives. "Time and again, we are led to management's attention from the right way to leave the arrogance or the silly idea, we see the value of losing its vitality." He knows that a few decades ago Coca-Cola has had to cultivate shrimp, while Gillette has drilled oil.
   
"But it will no longer appear in the Coca-Cola and Gillette - from their current and future managers of view, can be sure of it."
   
Buffett has repeatedly reiterated that can not be alone in the past look to the future, otherwise, are the richest of the librarians. Nevertheless, he made a mistake. Three years later, that is, May 1, 1999 to March 2000, Coca-Cola and Gillette in the U.S. stock market, a loss of five forefront: the former loss-making among the first, which is ranked fifth.
   
Simply the market value of the two companies losses attributed to the "traditional economy" losing ground, not be appropriate. Coca-Cola, for example, in almost 20 years maintained a 7% annual rate of return, after the company's global sales in 1999 grew by only 1%, while its operating profit plunged 20 percent, only 3.98 billion U.S. dollars. Obviously, though Coca-Cola in the past 20 years, globalization effort was successful, but the emerging markets, after all, there is a period of relative saturation. And, like Coca-Cola soda such as bottled water market, increasingly, natural fruit juice and other non-soda drink of water impact, the company has not made timely adjustments.
   
Buffett has said that a story: his friends in to see him in a major investment mistakes, if you ask Warren Buffett: "Although you are very rich, why do you be so stupid?"
   
Buffett is sometimes stupid, but more stupid they can be interpreted as Taizhiruoyu

xunG     uploadeb     freaksharp


 | 主页 |