Hearty meal

We often from different sources, including various types of media, friends, university professors, billionaires, hear that the larger institution investors can mark up or down the market’s index more easily they have the expertise to understand the calculations, we generally amateur investors cannot fight with him, and ultimately become their dessert, I actually somewhat disagree.

a) The most important point is that most of them are short-term investors, in order to account annually with customers, but also on account of their own wallets, they must seek the highest return on the fastest, and thus affect their judgment, when a person the pursuit of short-term returns, will give up the company's fundamentals, even though he clearly knew the company is brilliant.

b) In fact, we have a good return on investment does not require too complicated calculation, derivatives designed by the professionals is a good thing at early stage but become a poison for the market later. Throw it back to professional and let them duel in it! Basic arithmetic such as percentage, plus, minus, times, divided by is just fine for getting good investment result. Of course accounting knowledge still necessary, but if you feel accounting still much complicated for you to learn, then invest in a market index of major markets. As most funds cannot beats the market in long run. The result is worst if we count it after deducting the management fee for fund manager.

c) If they are so powerful, it can always outperformed the market, then simple math show that now the world's top companies, the largest market giants, should all be investment banks, why not?

Conclusion, I think we should not be deified them, on the contrary, their short-sighted provide us a hearty meal.

我們經常從不同途徑包括各類媒體, 身邊朋友, 大學教授, 億萬富豪, 聽到大型基金可在市場舞高弄低, 他們有專業知識, 懂計算, 我們一般業餘投資者不能和他鬥,最終輪為他們點心, 其實我是有些不認同的。

a)      最重要一點是他們大部份都是短線投資者, 為了每年可與客戶交代, 又對自己銀包交代, 他們一定要追求最快最高的回報, 就這樣影響了他們的判斷, 當一個人追求短線的回報, 就會放棄公司的基本因素, 儘管他知道所買的公司不甚了了。

b)      其實我們要有不錯的投資回報並不需要太高深的數學運算, 那些衍生工具就由那些專業人士對決吧! 我們在算術上只需運用基本的百分比, 加減乘除就好了. 當然會計知識還是必要的.當然若覺得會計也不想學, 那就投資於主要市場的指數好了, 因為大部份基金長線來看都跑不嬴指數, 更不要說要扣除管理費後投資者得到的回報了。

c)      若果她們都那麼厲害的話, 總能夠跑嬴市場的話, 簡單的數學運算都知,現在全球最頂尖的公司, 市值最大的, 應該都是投資銀行吧! 為什麼不是呢?

所以我覺得不應該神化了那些大戶, 相反, 他們的短視, 正正為我們提供豐盛的大餐。