concept
Generally speaking, the fund's heavyweights will be pulled up at the end of the month, and the fund has always had the habit of pulling up its own heavyweights at the end of each month to get a better industry ranking and reduce the pressure of fund redemption. Moreover, the bonus and income of fund managers are also directly linked to the ranking.
Recognition degree of warehouse inventory
On the value analysis of listed companies, the basic research ideas of the two are basically the same, both of which are based on value analysis.
Hold shares
There is a clear difference between the two. There are very standardized requirements for funds, which should be disclosed every week, month, quarter, half a year and year-end; There is no such requirement for securities institutions. If the annual reports of listed companies do not disclose the top ten tradable shareholders, the securities institutions themselves will not disclose "trade secrets".
time
There is a clear difference between the two. There is no time limit for securities institutions to hold shares, and there are very standardized requirements for funds.
proportion
There is a clear difference between the two. For funds, there are two restrictions on the number and proportion of shares held by each fund; For securities institutions, there are only restrictions on the proportion of shares held in the total shares.
amount
The two are also different. A fund can only open one fund account; Securities institutions can use their branches to open multiple capital accounts.
pay attention to
It is precisely because of the above differences that funds and securities institutions operate in very different ways. In addition to long-term varieties, securities institutions can use branch accounts to manipulate stocks and hold shares in the short term; However, because of the large amount of funds, in order to advance and retreat conveniently, funds generally only hold large and medium-sized stocks. Generally speaking, the stocks with heavy positions in the fund are long-term varieties, and the stocks will not be too active; Securities institutions are not necessarily heavy stocks, and there may be more opportunities in the short and medium term.
Secret of stock selection:
First, choose industries supported by national policies. For example, high-speed rail, water conservancy, building materials and other sectors with high growth rate are all related to national policies.
The second is to see which companies have good growth. Growth companies, there are rapid growth, slow growth, and performance turnover.
Select indicator:
1. Choose a company whose net profit growth rate far exceeds its main business. For an enterprise, the annual growth of its main business is 25%, which is already a good growth. If other businesses can maintain rapid development, it means that the company will develop at a good speed in the future.
2. Individual stocks whose performance begins to reverse are also common methods of stock selection. For example, in the melamine incident of that year, Yili's profit declined and was sold off substantially, but this was precisely the bottom area. However, it remains to be seen whether Shuanghui, which is similar to this, can get up again.
3. It also depends on the price-earnings ratio and valuation. Compare the same industry and similar stocks to find companies with low valuations.
We should also seize the opportunity to intervene. According to long-term observation, March to April every year is the moment when some funds' heavy stocks break out. Because when the fund's fourth quarter report was just released, most of the fund's heavy stocks were exposed, and no institution was willing to pull up the stocks at this moment, so after a while, when the market turned to other hot spots, these companies might be pulled up.
Refer to the above contents: Fund Awkwardness Shares