M********r
发帖数: 278 | 1 I hear the word "调整" very often on this board. To long term passive
investors, the word means two things: one, annual or semi-annual rebalance,
that is to re-adjust your investment portfolio according to the original
desired allocation. By definition rebalance should be automatic and small.
Two, to reduce risk exposure as you age. But I have a feeling that when
using the word "调整" most people actually mean to dump underperforming
investment and buy new "hot " fund/stock etc.
Follwoing is a link to a Vanguard study comparing such performance chasing
strategy with buy-and-hold.
http://www.scribd.com/doc/236535631/Vanguard-Quantifying-the-im |
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