基金投资101

黑山老妖

申明：我不是金融顾问，以下所有的东东都是我个人见解，不能构任何的金融投资建议书。本人不为任何损失和责任负责。
disclaimer: I am not a financial advisor. Below are just my personal opinion. It does not consitute a financial statement in any form. I can not be held responsible for any loss or liability as a result of reading this opinion.投资基本常识：
风险和回报：风险在投资中的定义一般是指回报率的变化。比如说如果投资A的平均回报率是一年5%，平均每年差别是2%（3%-7%一年）。投资B的平均回报率是7%，平均每年回报率差别是5%，2%-12%。那么投资A的风险比投资B低，2%<5%。一般来说高风险高回报。但是并不是100%的。除非是定期存款或是国家债券，没有任何人可以告诉你一定有一定百分比的高回报。有的都是在吹牛或是诈骗，可以到ASIC去检举他们。portfolio thoery（控制论??）：通过分散风险来达到可以承受的风险和回报组合。具体的方法就是投资不同比率在不同的asset class（资产种类）里，以期达到一个预定的风险回报值。Asset Classes有很多种，按风险排名，从低到高：
  1) 现金。一句话，活期存款。基本没风险，除非国家破产。也没有多少回报率，就是银行的浮动利息。
  2）fixed interest。定期存款。低利息，低回报。
  3）债券。国家债券是低回报的，但是风险也很低。垃圾债券，回报可以很高，但可能发行公司会倒闭。
  4）房地产。
  5）澳洲股票。
  6）国际股票。风险比澳洲股票达一点，因为还有汇率，政治的因素在里面。
  7）Derivatives。比如期货等等。个人认为是投机/赌博。当然也还是有高人能从中获利的。regular investment - 因为我们都不是炒股高手，为了防止你在最贵的时候买进，请选用dollar cost averaging。基本上就是每个月追加一定的投资。比如第一次投资2000元之后每个月追加200元。还有一个好处就是让你养成存钱的习惯。基金种类：
基金的分类有好多

wuyu

谢谢分享。加分+

kukumalu

不错! lz辛苦了~~~ (怎么才能给lz加分?)btw, 希望philgu tz也来补充下,

wuyu

原帖由 kukumalu 于 2006-10-15 13:47 发表
不错! lz辛苦了~~~ (怎么才能给lz加分?)btw, 希望philgu tz也来补充下,  
等你像我的脚丫一样多

wyatt

加分感谢

philgu

LZ has done a very good job summarising and should be very beneficial to people who don't want to read through PDS.Strictly speaking master trust or wrap is not a product. Rather they are more like a platorm or service providing a range of different offerrings of asset class and fund managers. It is becoming more and more popular in the wealth management industry in the past decade. Most of master trust are principlely offerred to retail investors whilst wrap is more towards higher end (it can offer more exotic service including wrapping things like art collections). But master trust like CFS First Choice, ING OneAnswer,  MLC MasterKey, they are for both retail and wholesale investors. But a lot of fund managers would tier their fees (meaning higher balance lower the fees).In my view, 60% - 70% of the return is due to asset allocation than anything else. So think about that carefully before doing anything else. The other thing I found quite interesting is that people would put more tru

黑山老妖

philgu, thank you for the feed back.Thank you for clarifying master trust and wrap. I will make the change. :)I am somehow have a different view of brand and personality for managed funds.
I believe is while who manages the fund does have an influence on the return etc, but since all "maturer" funds which had being run for a number of years would have an investment goal and strategy setup over the years. The result of the fund reflects the investment philosophy and strategy. Its like the share trading, depending on gut feeling is not the way to do it. One has to stick to a preset system. If what you mean was who setup the funds' process that really matters, then I would agree with you. But once the fund has being setup and run for a number of years, as long as the knowledge of following the process is passed on, there is really minimal human influence on its performance. Their are wizkids, no denying of that. But human can fail, sometimes very badly. Beside where human intervention wor

游子

好贴，长知识啊。

happysee

这个贴要顶

louislu

加分