o*****y
发帖数: 710 | 1 就是说，根据HOLD时间长短，FUND PERFORMANCE，来重新进行PORTFOLIO的
百分比分配吗？这样做的话，短期税太高了，估计大家不会做，长期（大于
一年）的，总之是15%的税，大家会根据FUND 近期 PERFORMANCE 重新调配
吗？能说说原因吗？
前提是钱是近期肯定不用的，5-10年都有可能不用。
我的想法是：能不调就不调，一定觉得要调的话，也不要一下子釜底抽薪，
把某个FUND一下子全部拿出，尽量一点点的调，这样一是总体的税可以尽量
DEFER，二是自己对市场判断的准确度和盈利的上税 RISK/REWARD 不成比例。
大家都来谈谈？ | S**C
发帖数: 2964 | 2 As a accumulator, I am going to add new money to the recently
underperforming asset/funds as I believe every asset price will revert to
the mean eventually, and I have a long investment horizon, and hopefully
longer than the mean-reverting time frame.
As I do not believe smart people can suddenly become dumb, I am more likely
to add to the short-term underporforming long-term solid funds rather than
chaing the current hot ones, as long as there is no material change in that
fund.
【在 o*****y 的大作中提到】
: 就是说，根据HOLD时间长短，FUND PERFORMANCE，来重新进行PORTFOLIO的
: 百分比分配吗？这样做的话，短期税太高了，估计大家不会做，长期（大于
: 一年）的，总之是15%的税，大家会根据FUND 近期 PERFORMANCE 重新调配
: 吗？能说说原因吗？
: 前提是钱是近期肯定不用的，5-10年都有可能不用。
: 我的想法是：能不调就不调，一定觉得要调的话，也不要一下子釜底抽薪，
: 把某个FUND一下子全部拿出，尽量一点点的调，这样一是总体的税可以尽量
: DEFER，二是自己对市场判断的准确度和盈利的上税 RISK/REWARD 不成比例。
: 大家都来谈谈？
| o*****y
发帖数: 710 | 3 what if you feel there is "material change " in certain fund, like real
estate
bubble back, and tech bubble we've seen? They didn't burst in one day.
What's your strategy?
likely
that
【在 S**C 的大作中提到】
: As a accumulator, I am going to add new money to the recently
: underperforming asset/funds as I believe every asset price will revert to
: the mean eventually, and I have a long investment horizon, and hopefully
: longer than the mean-reverting time frame.
: As I do not believe smart people can suddenly become dumb, I am more likely
: to add to the short-term underporforming long-term solid funds rather than
: chaing the current hot ones, as long as there is no material change in that
: fund.
| S**C
发帖数: 2964 | 4 What you described is not "material change" to me.
Material change refer to change of management (e.g., MM retires, jump ship
etc), investment strategy (e.g., a value fund become growthy, turn-over
ratio jumps), and to some extent, behavior (e.g. a historically steady-eddie
becomes more volatile than its peers), and fees increase or lack of fee
reduction when AUM increase substantially. A fund remains open with large
AUM will make me pause.
I typicaly are not into sector funds. If a previously diversified fund piled
into a given sector I will bail, even if I agree with that MM, I better off
buying a sector ETF which is cheaper.
What a person did over 10 years is significant, 5-years? improtant, 3-years?
interesting, 1-year and shorter? just noise.
【在 o*****y 的大作中提到】
: what if you feel there is "material change " in certain fund, like real
: estate
: bubble back, and tech bubble we've seen? They didn't burst in one day.
: What's your strategy?
:
: likely
: that
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