作者daze (一期一会)
看板Foreign_Inv
标题Re: [请益] 新手美股etf投资
时间Fri Feb 4 21:28:39 2022
John H. Cochrane有一篇论文
<<Portfolios for Long-Term Investors>>
(
https://www.johnhcochrane.com/research-all/long-term-portfolios )
我觉得很值得一读
里面提供了许多观点
不管你最後同不同意
都很值得至少思索一番
===
容我引用其中的一段话:
"
The average investor must hold the market portfolio."
"The average-investor theorem is powerful, because portfolio theory is hard.
You have to estimate or otherwise understand time-varying means and
covariances of asset returns and state variables, alphas, and betas. Then you
have to make a difficult computation, and do a lot of massaging to keep it
from blowing up."
"But
if you know that you are no different than the average—
or if you do not really know you are different and how—you are done, you
know the answer. Off to the total market portfolio with you."
--
So stand by your glasses steady,
Here’s good luck to the man in the sky,
Here’s a toast to the dead already,
Three cheers for the next man to die.
--
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1F：推 eesc: 推d大，黄色部分作者写得太好了 02/04 21:51
2F：推 mackdaddy: 推 02/04 22:00
3F：推 t781226: 推 02/05 00:34
4F：推 raiburatang: 原推文出於好心，才会给入门买 ETF 的财经震撼教育 02/05 08:54
5F：推 popolili: 谢谢分享 02/05 09:54
6F：推 SweetLee: h叔好心我是相信 可是他有些想法太武断了 对新手不一定 02/05 14:06
7F：→ SweetLee: 是好事 02/05 14:06
8F：推 eesc: 跟sweet大想法差不多，之前股息税也是，哈。但他感觉得出来 02/05 14:26
9F：→ eesc: 是善意 02/05 14:26
10F：推 Anesa: 推~ 02/06 00:13
11F：推 ya17991220: 借板问 前阵子all in VTI 现在想改做VT VWRA 02/07 17:29
12F：→ ya17991220: 直接卖掉VTI转VT或VWRA 有甚麽需要注意的点吗? 02/07 17:30
13F：推 ErnestKou: 楼上你可以补VXUS，免得下次又跳回去 02/07 19:15
14F：推 Mahakala: VTI怎麽了吗 @@ 02/07 19:15
15F：推 ya17991220: 单纯觉得不应该只买美股 要做全球的 02/07 21:20
16F：推 ErnestKou: 那加买VXUS就好，还可以自己调整比例 02/07 22:14
17F：推 ya17991220: 收到 谢谢 02/08 06:50
18F：推 Kimberleyz: 推 02/08 13:31
19F：推 Abbee: ya大 要注意的点就是转了就别再看盘 02/08 16:02
20F：推 ya17991220: 谢谢 这个我可以的 02/08 16:55