We will often see people talking about benefits But few people talk about the cost For example Some ETFs have been very popular in recent years They use the option strategy of Covered Call To achieve high dividends Their dividend rate Usually more than 10% Some even exceed 100% It looks very attractive But have you ever thought about it. Such a high dividend rate What is the price behind it Good today's video Let's discuss On the topic of high dividend costs I will also share one Very simple way To avoid th ...

Portfolio Performance & Strategy - The Hi5 portfolio, initiated in August 2023 with 500,000 Canadian dollars, surpassed 1 million Canadian dollars by June of this year, achieving a compound growth rate close to 12% [1] - The core investment strategy is DCA (Dollar-Cost Averaging) plus BTD (Buy The Dip), involving consistent monthly investments regardless of market fluctuations [1] - Investing in the US stock market is a key component of the strategy, based on the belief that it will rise in the long run due to factors like oversupply of money and the influence of capitalism and vote-driven politics [1] - The strategy emphasizes that market drops and corrections, including crashes, present opportunities for accelerated wealth growth, as the market will eventually recover and reach new highs [2] Risk Management & Market Analysis - Data from JP Morgan indicates that between 1980 and 2020, 44% of companies in the Russell 3000 index experienced catastrophic losses (stock price fell >70% from peak and never recovered) [2] - During the same period, 42% of stocks in the Russell 3000 index generated negative absolute returns, and 66% underperformed the market [2] - Only 10% of stocks outperformed the market during this period, achieving cumulative returns of 500% or more [2] - Actively managed stock funds have a low survival rate, with 59% of funds from December 31, 1992, to September 30, 2022, either closing down or merging, and only 10% outperforming the S&P 500 index [2] Portfolio Rebalancing & Adjustments - The Hi5 portfolio will undergo annual rebalancing in August, involving adjusting the holdings of the 5 ETFs to maintain equal weighting [2][3] - MOAT ETF will be replaced by SPMO ETF, shifting from a fundamental-based stock selection model to a momentum-based model that selects the best-performing stocks in the S&P 500 index [2][3] - The rationale for replacing MOAT with SPMO is that SPMO has demonstrated better overall performance and a superior risk-return ratio compared to MOAT [3]

大多數人認為槓桿是危險的 我過去對槓桿投資也是有很多偏見 不過呢，最近我讀了一篇論文 它徹底改變了我的這種看法 這篇論文的標題叫做 長期槓桿投資 一種系統化的股票風險管理 與回報放大策略 文章的核心觀點用一句話概括 那就是 善用槓桿 它不只是放大利潤 更是風險管理的工具 那麼今天這支影片 我們就來探討一種 被證實是有效可行的 槓桿投資策略 影片的最後 我也會分享我自己的做法 我們通常對槓桿的理解是 使用槓桿 會線性的放大回報和風險 然而，現實的市場行為並不是這樣的 槓桿在不同的市場波動環境下 會體現出不同的風險與回報的特徵 那麼怎麼理解呢 我們來看一個真實的例子 2025年4月初的這幾天 標普500指數經歷了巨大的波動 從波動率指標上 能夠清晰的看到波動放大的這種特徵 從4月3日至4月11日這6天 標普500指數的波動情況是這樣的 第一天，指數下跌5.97% 對應的3倍槓桿下跌17.92% 第二天，指數下跌0.23% 3倍槓桿下跌了0.7% 這樣6個交易日累計下來 標普500指數的回報是負的0.61% 而3倍槓桿的總回報是負的5.68% 是指數跌幅的9.24%倍 3倍槓桿跌出了9倍的效果 這就是所謂的波動性損 ...