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盈透:从范思哲身上学习投资

2018-3-21 07:11 盈透专栏 interactive 评论: (0) |原作者: 盈透证券资产管理|来自: IB美国盈透

原文发表于美国时间2018-3-20



时尚界的流行风向变化频繁。不论是牛仔风、格子风、纯色或条纹,时尚潮流时刻变换。


在我看来,这种方式同样适用于投资。


我的看法是选股有两种基本的方法:成长性投资和价值投资。


成长性的优势


在过去十年左右的时间里,因为零利率和低GDP增长的经济环境,投资具备成长性或投资预期会超过同行表现的公司,一直是明智的策略。


随着通货膨胀和利率走高,许多人认为专注于投资被低估股票的价值投资者的表现将更好。


在我看来,其中一个原因可能是这些策略均有严重的滞后性,均值回归也许是更适合现阶段的投资策略。



当然还有其他策略,如超值投资方和并购套利投资法。


多样性投资的胜利


个人认为重要的是投资者在其投资组合中使用多种多样的策略组合。


在我看来更重要的是,个股选择上应该采取多种进取型的投资风格。


如果您只依赖一种投资策略,在我看来您可能会将您的投资组合置于风险之中。


新闻头条的风险


例如,特朗普政府禁止博通(BRCM)公司收购高通(QCOM)公司的决定对采取并购套利的交易者是一个打击,他们本笃定这项交易会成功。

在我看来,AT&T(T)公司收购时代华纳公司(TWX)的交易也存在很大的不确定性。


我认为您的投资组合中应该包含小型股和大型股,进行价值投资和成长性投资,以及收购交易和外汇交易。


重点

我想像詹尼·范思哲追求时尚的方式一样,创新并不拘一格地进行投资。


我当然不是范思哲,但我喜欢他的风格和独特的方法。


 

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这篇文章已被翻译成中文。原英文作者Interactive BrokersAsset Management。如英文版本和中文版本之间有任何不一致,以英文版本为准。该文章中的分析仅为提供信息,不是也不应该被视为推销或招揽购买任何证券。文章中讨论的一般市场活动、行业或领域趋势、或其它基于广泛的经济或政治条件的内容,不应被解释为研究结果或投资建议。讨论中提及包括的特定证券、商品、货币、或其它产品均不构成IB推荐购买,出售或持有此类投资的建议。本材料不是也不意图针对个别客户的特定财务条件、投资目标或要求。在根据本材料采取行动之前,您应该考虑是否适合您的具体情况,并在必要时寻求专业建议。

 

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