市场上有哪些常见的基金风格呢？｜投资小知识

Core Viewpoint - The article discusses various investment styles, emphasizing the importance of diversification and the cyclical nature of investment styles, suggesting that different styles can perform differently over time [5][12]. Group 1: Investment Styles - Balanced style is characterized by a diversified portfolio across multiple industries, typically resulting in smaller maximum drawdowns compared to the market [2]. - Deep value style, represented by Graham, focuses on valuation metrics such as low price-to-earnings (P/E) ratios, low price-to-book (P/B) ratios, and high dividend yields, with returns coming from both earnings growth and valuation recovery [5]. - Growth value style, exemplified by Buffett, emphasizes a company's profitability and cash flow, often investing in high return on equity (ROE) and stable cash flow stocks [7][8]. - Growth style prioritizes high revenue and earnings growth rates, showing a higher tolerance for valuations, with heavy investments in indices like the 300 Growth and ChiNext [9]. - Deep growth style targets early-stage industries where revenue and earnings have not yet reached high growth phases, common in venture capital but less so in public funds [10][11]. Group 2: Style Rotation and Strategy - Different investment styles do not move in tandem; style rotation occurs approximately every 3-5 years, although predicting the exact timing is challenging [12]. - The strategy involves maintaining a diversified portfolio with undervalued assets across different styles, adjusting allocations based on valuation changes within specific styles [12].