价值投资的秘密

• 发表：2024-06-05
• 分类：经济管理
• 围观：4

• 暮渔

  11-10
  1.主动基金面临的限制：选股数量多，避免风险也削弱了收益；持仓比例要求，无法增持高价值小股票；优秀经理业绩只能靠滞后判断，无法提前预知。2.普通人的选择：市值指数基金；为避免股票越贵占比越高的风险，用等权指数替代；为了降低交易成本，用基本面加权指数替代；为了买好股，用价值加权指数替代。
• 关普勒

  02-24
  成功投资的秘密是估算某些东西的价值，然后付更少的钱买下来。然后发现，面对充满不确定性的未来，估值基本是不可能成功的。于是就选择了基金，排序则为主动型基金劣于市值加权指数，劣于等权指数，劣于基本面加权指数，劣于价值加权指数——也就是投资于一箩筐赚钱能力好的企业，并长期持有。
• 北京依依宝贝

  03-12
  如果他的价值加权指数好过市值加权指数，为何巴菲特要推荐标普？真想看到最关键的真实数据。

• [已注销]

  2015-04-05
  According to finance theory and logic, the value of a business should equal the sum of all of the earnings that we expect to collect from that business over its lifetime. In reality, we should look for how much cash we receive from the business over its lifetime.
• [已注销]

  2015-04-09
  There are also a number of what are known as fundamentally weighted index strategies that have some definite advantages over simply equally weighting all stocks. For these strategies, instead of using market capitalization to decide how much to buy of each stock in the index, other measures of economic size are used.
• [已注销]

  2015-04-09
  Essentially, a business needs two things in order to operate: working capital and fixed asset.There are other well-established measures of cheapness that have a good historical record and could be used to create alternative value-weighted indexes. They could be variants of price-to-earnings, price-to-cash-flow, price-to-dividends, price-to-book, price-to-sales.The small-cap effect would largely disappear in the real world due to the lack of liquidity and high trading costs for these smaller companies.

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