How Can Individual Investors Make A "Stock Portfolio" To Win?

Renmin University of China, economics undergraduate, Harvard University master of management, long-term employment of Huaxia Fund and subsidiary Huaxia capital, in 2014 to participate in the creation of Daming Cci Capital Ltd, as the chief risk officer, successor. fund manager Managed fund products have been established for more than 1 years, withstanding the stock market crash in August and January this year, exceeding the Shanghai Composite Index by 14 percentage points over the same period.

Figuratively speaking, there is no risk of scattered retail investment, like the tower in the sand, but also beautiful because it is too high to collapse; if we can persist in discipline and make portfolio investment, it is like building a good city, not looking tall but durable.

In the past 12 years, I have often met various retail investors and asked me: can you recommend a stock in the fund company? Can you help me to see this stock? Do you think this stock has gone up a lot? These are the questions that can't give the right answers. Every time I think, if I have the ability to know which stocks are going to rise, why do I still bother to work in the fund company?

First of all, the future is uncertain. Therefore, the rise and fall of any stock is a probability event. Secondly, no one can predict the future, and can only judge the probability of occurrence according to the situation. So rational investors can only estimate future stock movements and make investment decisions.

Someone will ask, since one shares How can we invest in the future if we can not predict? This is the watershed between retail investors and institutional investors. As far as I know, most retail investors do not invest more than 5 stocks, often one or two, like those with large fluctuations. The idea of institutional investors is not so, more is to build a more complete combination.

So do retail investors insist on their own "fight" approach, or should they add a small amount of portfolio investment ideas into their stock portfolios? In my opinion, the fight of retail investors is like trying to win the chance of winning a profit by chance in a casino, and ultimately become a win-win situation. Therefore, since 1990s, every time the bull market emerged, the scattered heroes are now unknown.

In fact, retail investors want to build their own stability. combination It is not difficult, but mainly by discipline. In the case of 100% full warehouse, there are basically several simple steps.

First, the number of stocks can not be less than 6 (although the 6 actually can not fully play a role in dispersion), according to the cost of buying time, each stock can not exceed 20% of its own funds, regardless of any reason to buy.

Second, check the industry characteristics of stocks: strong cyclical industries (commodities) or anti cyclical industries (Medicine) or even counter cyclical industries (low consumption industries and some growth enterprises), so that industries should be hedged and dispersed so as not to be too concentrated. It is easy to see a sharp rise or fall (such as strong cyclical industries) or stay on the ground (such as medicine and other industries).

Third, the reason for checking stock purchases is because they heard some uncertain restructuring news, or they really thought that the enterprise would have a better growth prospect, or just wanted to make a short-term decision. The next step is that the more attractive short-term factors, the more prudent it should be to control the purchase desire and position, for example, only buy 5%; and the real prospects of stocks, despite the short term performance in general, but the long-term growth trend is obvious, this stock can be more matched, for example, to 20%, become the star of your portfolio (core).

Fourth, when a stock's stock rises significantly exceed its holding limit, it can gradually reduce its position. For example, when the portfolio is constant, a stock buys 10% of the time, and the result rises all the way to 15%. Then, "forget the original mind", reduce the 5% up and find new suitable targets.