UMALO ZABORAVIH ŠERIFA BUFFALO SAM O’ DOLA. [smiley2]
MARTINGALE JE BIO UDJELIČAR U INDEKSNIM FONDOVIMA, ALI NE U INDEKSNIM FONDOVIMA SPOMENUTIM U PRETHODNOJ FORUMSKOJ PORUCI. MARTINGALE SE KLADIO NA INDEKSNE FONDOVE SPECIJALIZIRANE ZA ULAGANJE NA TRŽIŠTA SA RASTOM OD 61% DO 97%. [smiley1]
da … ispada da ovi aktivni fondovi (koji analiziraju tržište i investiraju bazirano na svojim procjenama) zapravo rade jalov posao i postoje samo zato da bi ubirali naknade [smiley2].
evo ovdje par zaključaka:
Vaš link
koliko sam čitao, sve je to poznato već odavno … ali želja da se “beat the market” nikad ne umire.
More than a hundred years of
academic research has concluded that index funds are an investor’s best investment.
Sadly, the great majority of investors have never read these academic studies so they
continue as active investors.
Stock Pickers: Accept that stock pickers do not beat the market. The
primary factor influencing the success of a stock picker is simply luck. In numerous
studies, only about 3% of stock pickers beat their benchmark.
Manager Pickers: Realize that the winning managers were just lucky. The
S&P 500 Index consistently outperformed 98% of mutual fund managers over the past
three years and 97% over the past 10 years, ending October 2004. In two 30-year studies,
the S&P 500 outperformed 97% and 94% of managers. In addition, only about 12%
of the top 100 of managers repeat their performance in the following years.Therefore, it
is not possible to consistently pick next year’s hot mutual fund manager. Index portfolios
consistently capture the risk and return of markets, which in a high risk index portfolio
has been 14% annualized for the past 50 years, compared to 11% for the S&P 500.
a iz:
Vaš link
(Warren E. Buffett)
Let me add a few thoughts about your own investments. Most
investors, both institutional and individual, will find that the best way
to own common stocks is through an index fund that charges minimal fees.
Those following this path are sure to beat the net results (after fees
and expenses) delivered by the great majority of investment
professionals.
i sad ću ja opet … zašto kod nas nema indeksnih fondova? kakvih takvih. možda treba započeti … ?
In two 30-year studies:
1. stock pickers do not beat the market.
2. it is not possible to consistently pick next year’s hot mutual fund manager.
3. the best way to own common stocks is through an index fund that charges minimal fees.
Treba istaći da TunaSalad govori o dugoročnom ulagaču. Umetnuo sam dva vrlo korisna privitka za ovu temu.
Ovo sve što ste rekli o pasivnom investiranju stoji, ali mene zanima u čemu je prednost ulaganja u indexne ETFe (npr. Lyxor ETF DJ Industrial Average – FR0007056841) u odnosu na indexne otvorene certifikate (npr. Dow Jones Certificate – CH0014686668)? Budući da kod ETFa uvijek postoji veća ili manja razlika između stvarne cijene i pripadajućeg indexa u obliku premije ili diskonta, među ostalim uslijed utjecaja na tržišnu cijenu ETFa, mogućnost njenog šortanja.
u čemu je prednost ulaganja u indexne ETFe (npr. Lyxor ETF DJ Industrial Average – FR0007056841) u odnosu na indexne otvorene certifikate (npr. Dow Jones Certificate – CH0014686668)?
Market index Certificate je izvedeni financijski instrument koji vam ZIF trenutno ne dozvoljava da koristite, a Market index Exchange Traded Fund ste objasnili sami: ET Fund ima propisano dozvoljeno odstupanje od precizno definiranog benchmark indexa, a zbog tog odstupanja kod ETFa uvijek postoji veća ili manja razlika između stvarne cijene i pripadajućeg indexa u obliku premije ili diskonta. Pretpostavljam da je gospodin New User za izvedenice? Bečka škola? [smiley2]
Umalo zaboravih privitak.