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發表於 2011-12-17 01:57:01
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本帖最後由 longdongsilver 於 2011-12-16 17:39 編輯
I am sorry to say that the long term buy/hold strategy is out, it is more like BUY and HOPE.
When mutual fund/ hedge funds managers' performance are measured on a monthly basis, as a small investor are you going to buck the trend and talk long-term?
If you look at the average daily trading volume at the New York Stock Exchange is now down to 8.5 million shares, it is telling you loud and clear that small investors are out for at least in the last three years.
All is left in the markets are the big fund managers who are wiping the market up and down like a toilet seat.
When even big fund managers like John Paulson (hedge fund manager) and Bill Gross (PIMCO, largest bond fund manager in the world) are underperforming or losing money big time. What are the chances for small investors?
My recommendation to investors are as follow:
1. Do a proper asset allocation according to your risk tolerance, let's say 70/30, 70% in fixed income and 30% in equities, if the stock market collapse, at least 70% of your capital is still intact;
2. To reduce the alpha risk in individual stock, buy index ETF whether you lever it or not is up to individual investor;
3. Maintain at least 10% of your investments in cash for the rainy days or take advantage of any good opportunities when arise; When in doubt (of the stock market) get out, there is nothing wrong with sitting in cash, the worst that can happen to cash is missing opportunity, it is still alot better than missing capital when you are losing;
4. Finally, buy low and sell high is easier said than done; let the market timers be the hero and remember heros always die young.
My 2 cents, |
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