美股最近跌不少了
登录 | 论坛导航 -> 华新鲜事 -> 狮城财经 | 本帖共有 434 楼,当前显示第 53 楼 : 从楼主开始阅读 : 本帖树形列表 : 返回上一页
作者:pymess (等级:2 - 初出茅庐,发帖:482) 发表:2024-04-19 11:54:26  53楼 
你说对了想beat我,那就是beat 60%的纳斯达克+40%的标普组合,全世界的基金经理能做到这一点的都不多。
you are right about the fact that a lot of funds can't beat the benchmark.
Let me explain why it is so.

warren Buffett has a lot sayings. But one of his statement is like this:" the biggest edge as a retail investor is the "size". If you give me $1million, I can easily achieve 100% or even higher return. but if it is $20million, the return may be dramatically reduced."

For US market, except for those very illiquid stocks, a 6- figure or even low-end 7 figures US dollar market order could be easily absorbed within a second. This is exactly the 'edge' for the retail investor, because a retail participant can get in and out of a stock at whatever price with desired quantity within split second. However, the story is totally different for FUND. A fund has a lot rules and constraints. The set of the rules specify minimum market cap of the stocks they can purchase, minimum holding period, maximum shareholdings, a necessary liquidation (cut loss)requirement, and many others. Therefore, there is a natural tendency that most of the funds have to shift their focus to mid cap or big cap stocks (the fantasy 7 for example) due to liquidity constraint, and obviously most of their FUND performance is just a replication of SP500 or nasdaq100 index.

all great companies evolved from 30m-50m small cap company in the first few years, and those were the fastest growing period in their financials. If one has spare time and money to do stock selection on his own or just simply wants to challenge himself, then why not, just do it. But for many who have a full day job, index fund is still a good choice.
欢迎来到华新中文网,踊跃发帖是支持我们的最好方法!原文 / 传统版 / WAP版只看此人从这里展开收起列表

本帖共有 434 楼,当前显示第 53 楼,本文还有 N-1 层楼,要不你试试看:点击此处阅读更多 >>



请登录后回复:帐号   密码