以下文章来源于懒汉养基 ，作者懒人养基 懒汉养基 . 懒人养基小号【懒汉养基】。主号【懒人养基】专注于基金投资，小号【懒汉养基】则记录并小范围分享自己个人成长、投资理财、旅行旅居、读书休 闲、健身养生等方面的一些思考、感悟和经历。感兴趣的朋友欢迎关注。 ↑点击上面图片 加雪球核心交流群 ↑ 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。 作者： 懒人养基 来源：雪球 在投资者认知里，"高风险高收益"几乎是条铁律，每当牛市来临，那些翻倍基金的神话总让人血脉贲张，仿佛只要咬牙承受波动，财富自由就在对 岸向你招手。 然而，一轮牛熊下来，绝大多数追着高波动奔跑的投资者，最终到手的不是高收益，而是伤痕累累的本金和一颗千疮百孔的心。 01 高收益的幻影：看得见却"吃"不着 高波动资产的"高收益"是一种统计结果，但它建立在一个前提之上：投资者全程持有、不动如山。 可现实中，绝大多数人根本做不到。行为金融学早已揭示了这个真相：投资者在亏损时感受到的痛苦，是盈利时快乐的两倍。这种不对称的心理机 制，注定了我们会在最不该撤退时落荒而逃，在最不该贪婪时奋不顾身。一只年化收益20%的基金，如果中 ...

每日经济新闻 （责任编辑：张晓波 ） 有分析认为，此次调整逻辑清晰，即"风险因子下调→降低险企资本占用→提升偿付能力充足率→ 释放增量资金" ，这不仅缓解了险企的资本压力，理论上可带来千亿级别的长期入市资金，鼓励险资做 市场的"耐心资本" 。叠加与新会计准则的双重共振，高股息、低波动的红利资产成为险资配置的较好 解决方案 。 鼓励"长钱长投"背景下，红利低波板块有望持续迎来"源头活水"，投资者可通过ETF等指数化投资 工具便捷布局相关资产。 据悉，易方达基金是目前唯一一家红利类ETF全部实行低费率的基金公司，旗下红利低波动ETF （563020）、恒生红利低波ETF（159545）、A500红利低波ETF（563510）等产品的管理费率均为 0.15%/年，可助力投资者低成本布局高股息资产。 近日，金融监管总局发布《关于调整保险公司相关业务风险因子的通知》，明确保险公司持仓时间 超过三年的沪深300指数成份股、中证红利低波动100指数成份股的风险因子从0.3下调至0.27，持仓时间 超过两年的科创板上市普通股，其风险因子由0.4下调至0.36。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中 ...

Group 1 - The banking sector has seen a significant rise, with stocks like Guiyang Bank and Minsheng Bank increasing by over 4% and 3% respectively, contributing to the overall positive performance of related ETFs [3] - The Hong Kong Dividend ETF Bosera (513690) experienced a 0.38% increase, with a trading volume of 93.96 million and a net inflow of 64 million over the past four days [1][2] - Foreign long-term funds are actively investing in Chinese equity assets, with notable investments such as a $50 million allocation by a German pension fund through a Hong Kong asset management firm [1][3] Group 2 - Southbound funds have net bought over 3 billion HKD, indicating strong foreign interest in Hong Kong stocks, particularly in the banking sector [4] - Analysts predict that the high dividend yield of bank stocks, which is expected to increase by 0.3-0.62 percentage points by early August 2024, will support continued upward trends in the banking sector [4][5] - The banking sector is viewed as a potential "new darling" for investors due to favorable policies and the increasing allocation of insurance funds to A-shares [5][6] Group 3 - The valuation of bank stocks remains low, with a price-to-book ratio of approximately 0.6, and dividend yields ranging from 4% to 7%, significantly higher than the 10-year government bond yield of 1.8% [6] - The recent surge in A-share bank stocks is attributed to improved macroeconomic expectations and a reduction in asset quality concerns [5][6] - The Hong Kong Dividend ETF Bosera saw a growth of 750,000 shares on July 14, with a net inflow of approximately 9.3 million HKD [6]