作者： 懒人养基 以下文章来源于懒人养基 ，作者懒人养基 懒人养基 . 雪球21年度十大新锐用户、22年度基金影响力用户，私企业主，经济学硕士，《基金投资全攻略》作者。早期靠创 业获取主动收入，从17年开始，逐步将经营产生的余钱、闲钱，几乎全部逢低买入权益基金，从赚取主动收入慢慢 向赚取被动收入过渡。价值投资践行者 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 来源：雪球 大家都抱怨投资难，但抱怨无用，想办法解决问题才是上策。 我在《提升自己的投资赚钱能力，就这几招》一文中曾说过，一靠自己不断小仓位实操、试错积累投资经 验，二靠借助专业机构的陪伴和服务提升自己。 其中，本身就较为成熟、被称为投资"唯一免费午餐"（躺赚）的资产配置方法，经过机构的悉心改进和完 善，可以让我们省去很多自己求索的功夫，比如已经推出几年的雪球三分法。 初初一看，三分法并没有什么高大上，很多人宁愿自己折腾也不屑去用，但它专治各种"一买就跌、一卖就 涨"的韭菜病，今天我们就来了解一下。 01 投资有不少错觉，而且很多人都会"中枪" 你是不是总在朋友圈刷到"牛基大涨"就心痒痒？是不是每天打开账户就忍不 ...

Core Viewpoint - The article emphasizes the benefits of systematic investment plans (SIPs) or dollar-cost averaging, arguing that it helps manage investment risks and emotions during market fluctuations [2][5][22]. Group 1: Problems Addressed by SIPs - SIPs allow investors to buy regardless of market price fluctuations, preventing the pitfalls of trying to time the market [5][6]. - Investors often hesitate to buy during market downturns, leading to missed opportunities and potential losses [9][12]. - SIPs help manage emotional responses to market volatility, reducing the likelihood of making impulsive decisions during market lows [13][14]. Group 2: Personal Investment Experience - The author shares personal experiences with SIPs, highlighting a case where the investment initially faced a -24% loss but later recovered to -2.9% due to continued investments during market lows [15][19]. - The article discusses specific funds, such as the Huatai-PB Southeast Asia Technology ETF and Manulife India Equity Fund, showcasing their performance and recovery from losses [16][20]. Group 3: Importance of Selecting the Right Assets - The article stresses the necessity of choosing long-term upward-trending assets for SIPs to ensure positive outcomes over time [22][24]. - Historical examples, such as gold and the Nasdaq 100 index, illustrate that long-term investments can yield profits even when purchased at market peaks [26][27]. Group 4: Investment Philosophy - Viewing SIPs as a method of accumulating wealth rather than short-term trading can enhance commitment to the investment strategy [28].

Core Viewpoint - The article discusses the performance and characteristics of value and growth investment styles in the stock market, highlighting the increasing popularity of value strategies, particularly dividend indices, in the current economic environment. Group 1: Market Overview - The market showed minor fluctuations today, with the Shanghai and Shenzhen 300 indices slightly down while small-cap stocks experienced slight gains [2][6]. - Value style stocks tend to exhibit lower volatility during market fluctuations, making them more resilient [3]. - Growth style stocks have seen a slight decline in performance [5]. Group 2: Value and Growth Investment Styles - Value style stocks are characterized by lower price-to-earnings (P/E) and price-to-book (P/B) ratios, along with higher dividend yields, often found in sectors like finance, energy, and consumer goods [8]. - Growth style stocks are associated with higher revenue and earnings growth rates, leading to higher average valuations [8]. - The dividend index, a prominent value index, has gained traction due to declining interest rates, attracting institutional investors seeking better cash flow assets [8][10]. Group 3: Performance of Value Indices - The Shanghai and Shenzhen 300 index rose from 1000 points to 5601 points, while the 300 value index increased from 1000 points to 9189 points [11]. - The 300 value index reached a historical high in Q4 2024, indicating strong performance during the recent bear market [12]. - The value strategy indices, including 优选300 and 中证价值, have also shown promising results by selecting low-valuation stocks with certain growth criteria [18][22]. Group 4: Investment Strategies and Trends - Despite the positive performance of value investing, the overall scale of value-focused funds remains small, accounting for less than 1% of total A-share stock funds [29][30]. - The article emphasizes the importance of understanding investment cycles and maintaining a long-term perspective in value investing [46][47]. - Upcoming live sessions will address the characteristics of various value strategy indices and current investment opportunities [31].

Core Viewpoint - The article emphasizes the importance of emotional control in investing, suggesting that most retail investors lose due to emotional decisions rather than technical skills. It advocates for a long-term investment strategy and disciplined approach to asset management [9]. Investment Strategy - Investing during market panic and selling during market euphoria is recommended as a strategy to maximize returns [1]. - A systematic investment plan is proposed, where a monthly investment of 5,000 yuan at an annualized return of 15% could grow to 10 million yuan in 20 years [2]. - It is advised to limit individual stock investments to no more than 20% of total capital to mitigate risk [5]. Risk Management - Immediate liquidation of positions is suggested if losses exceed 7% to prevent further declines [3]. - The use of leverage is discouraged, with a recommendation to avoid margin trading altogether [6]. Asset Management - Holding quality assets through market fluctuations (bull and bear markets) is highlighted as a key strategy for wealth accumulation [8]. - The article stresses that wealth is a manifestation of knowledge, and patience in investment leads to better financial outcomes [9].

Market Overview - The market opened with a slight increase but closed slightly down, maintaining a five-star rating [1] - The CSI 300 large-cap stocks saw a minor increase, while small-cap stocks experienced a slight decline. Value styles such as banking and dividends rose, whereas growth styles fell. The pharmaceutical sector overall increased [2] - The Hong Kong stock market, which had a significant rise yesterday, saw a decline in the morning [3] Sector Performance - Technology stocks in Hong Kong experienced a notable decline [4] - Despite the recent drop, the technology stocks are still considered to be at normal valuation levels after a significant rise in previous weeks, indicating they are not yet undervalued [5] - The earnings reports for Hong Kong technology stocks are being updated, with Q1 earnings growth appearing relatively strong, alleviating concerns about short-term volatility [6][8] Trade and Tariff Updates - A recent announcement regarding the postponement of tariff increases led to a market rebound [9] - However, the tariff issue remains unresolved, with ongoing uncertainty due to factors such as Trump's unpredictability [10] - The market is expected to experience fluctuations in the near term [11] Investment Strategies - The article discusses a systematic investment strategy using a "periodic but irregular" approach, where more is invested when valuations are lower [16] - Two methods for following investment combinations are available: manual and automatic [18][19] - The article emphasizes the importance of maintaining a calm demeanor and being able to withstand market fluctuations to achieve satisfactory investment results [29]

Market Overview - The Hong Kong stock market has been on an upward trend, continuing to rise for four consecutive weeks since early April [6] - A-shares also experienced a rebound, closing at a rating of 5.1 stars [1][28] - Both large, medium, and small-cap stocks saw increases, with small-cap stocks showing a more significant rise [2] Investment Style Performance - Value style showed a slight increase, while growth style experienced a more substantial rise [3] - During upward market movements, small-cap and growth styles exhibit greater elasticity [4] Investment Strategies - The article discusses a systematic investment strategy using a "periodic but irregular" approach, where more funds are allocated when valuations are lower [10] - Two methods for following investment strategies are outlined: manual and automatic [14][16] Pension Fund Investment - The article presents a personal pension fund investment plan, detailing specific funds and their current prices [18] - A valuation table for various indices is provided, highlighting metrics such as price-to-earnings ratio and dividend yield [24][25] Monthly Income Strategy - The "Monthly Salary Treasure" investment strategy has lowered its minimum investment threshold to 200 yuan, now offering a systematic investment option [27] - This strategy aims to meet regular cash flow needs, suitable for long-term holding [27][28] Valuation Insights - A valuation table is included, indicating various indices' earnings yield, price-to-earnings ratio, and other financial metrics, with color coding to indicate investment suitability [33][36]

文 | 银行螺丝钉 （转载请注明出处） 有偏离自己制定的投资计划。 第二是我们在定投的时候，要综合考虑自 己的心理承受能力和投入的资金量。 定投开始时投入的钱不多，所以心理压 力会小一点。 IEA J V L J F J F J F J F J L L J ▼点击阅读原 文，免费学习大额家庭资产配置课程 而如果遇到下跌的时候感到恐慌，往往 说明这个时候你投的钱可能超出自己的 心理承受能力了。 投的钱越多，心理压力越大。这时候可 能就容易头脑一昏，做出错误的决策。 因此,最好用长期不用的闲钱投资,这笔 钱是遇到下跌你也不慌的金额。 说一个极端的例子，就是这笔钱哪怕打 水漂了，你也不会觉得心疼的那种。 这种程度的资金,做长期投资更容易坚 挂下求。 ...

文 | 银行螺丝钉 （转载请注明出处） 昨晚美股又出现较大波动。 受此影响，今天开盘大盘下跌，不过随后大盘反弹，到收盘微涨微跌，波动不大，还在5.1星。 沪深300、中证500等微跌，波动不大。 昨天低迷的红利等价值风格微涨。 创业板等成长风格下跌。 港股开盘也一度下跌。不过随后港股逐渐上涨。 港股红利、港股科技等上涨超1%。 1. [大吉大利，今天吃基] 第361期的螺丝钉定投实盘来啦。 时间：2025年4月22日 方案：定投买入 品种： 指数增强投顾组合：11512元 主动优选投顾组合： 12877元 点击下图，即可立即跟投买入： 点击下图，即可立即跟投买入： PS：组合底层投资基金、各自比例等都是透明的，可以在公众号底部对话框回复「 发车方案 」查看。 2. 两种组合跟车方式，可以自由选择。 【方式一】： 手动跟车 点击上方投顾组合的图片，即可进入页面进行跟车。 进入跟车页面后，可以根据自己的资金量情况，按图示选择相应的跟投比例（页面会自动显示对应的投资金额），复制「定期不定额」的跟投 效果。 【方式二】：自动跟车 定投 金额采用的是 「定期不定额」的策略，估值越低投入越多。 实际使用参考金额的时候，可 ...

文 | 银行螺丝钉 （转载请注明出处） 理论: 一般来说，月供在到手收入的30%以内 比较合理;最高不要超过50%。 原则2:提高储蓄率 每个月省下多少钱,用来储蓄或者定投, 这就是储蓄率。 对大多数家庭来说，储蓄率达到20%就 是不错的水平。 每个月收入到手后，先把要存下的钱拿出 来,剩下的再用来花。这样就避免把钱都 花掉了。 原则3：通过定投积累资产 定投特别适合有新增收入的投资者。 有很多上班族已经在定投养老金、公积金 等,这也是积累资产的一种方式。 我们也可以用同样的方式，定投基金等其 他资产。 原则4：从指数基金开始投资 对普通投资者来说，指数基金是比较适合 入门的资产类别。 指数基金费率低,结构简单,没有杠杆或 者本金永久性损失的风险。 也不依赖基金经理,而是按照指数投资, 非常透明。 只不过指数基金波动风险比较大，需要结 合指数的估值，在低估的阶段定投。 原则5：做好资产配置 在家庭资产分配上,有一些常见的策略。 例如用"100-年龄"分配股票和债券。 像40岁的投资者，可以配置： · 60%长期不用的资金到股票基金; · 40%到债券基金。 年龄越大，抗风险能力会变弱，此时可以 降低股票资产的 ...

大家好，我是银行螺丝钉，欢迎来到这期的螺丝钉带你读书。 「螺丝钉带你读书」也陪伴大家度过了三百多期，为大家讲解了很多有趣、经典的书籍和故 事，比如《三十几岁，财务自由》、《如何读一本书》、《战胜拖延症》等等。 还为大家详细介绍了几位投资大师：股神巴菲特、他的好搭档查理芒格和指数基金之父约翰博 格。分享了他们的人生经历、投资生涯和投资的理念。 大家可以点击下面链接查看部分螺丝钉带你读书合集： 《 世界读书日，螺丝钉送你103本私藏经典好书 》 实现财务自由的简单原则 最近螺丝钉看了一本新书，《简单致富-实现财务自由与富足人生的路线图》。 这本书介绍的，是实现财务自由，所需要遵循的简单原则。 原则1：不要高负债 债务，是自由人生的第一道枷锁。 背负高负债，人生的可能性也会减少。 财务自由不是拥有多少资产，而是保留对人生的选择权。 不过买房子，使用像公积金贷款等低成本的负债工具，也是合理的。 那房贷等负债 ，在多少比例以内比较合理呢？ 一般来说，月供在到手收入的30%以内比较合理；最高不要超过50%。 原则2： 提高储蓄率 每个月省下多少钱，用来储蓄或者定投，这就是储蓄率。 像有的投资大师，年轻的时候储蓄率能达到5 ...