個人化避險基金 Your Own Hedge Fund

(奇摩原貼：2009/02/28)

評析: 資金不夠的人, 將看多的ETF部位用買進期貨的方式來做, 也是可以的; 只是風險和交易成本自己要算清楚!

There is no magic formula involved, nor some high-risk hocus-pocus. There are no promises of getting rich in a hurry. The success of this investment methodology is based on the steady growth of capital that comes from doing well on a consistent basis. It is based on combining two readily available investment tools into one cohesive strategy. Exchange traded funds, the modern version of the traditional mutual fund, and stock options are the tools used to manage your investment portfolio.

By combining these two tools into one investment methodology, you essentially create and run your own hedge fund. And the best part is that it’s not complicated. You can readily learn to manage your investments yourself. Investors are no longer forced to rely on mutual fund managers because they don’t feel there is any alternative. The methods taught here require some effort, but the rewards are worth it.

It’s less risky to own a diversified portfolio, such as those represented by ETFs. Those investments can be hedged with options, reducing risk even further. It increases the odds that your portfolio outperforms the market averages on a consistent basis, and it reduces your overall investment risk. The path to investment success discussed in this book uses neither fundamental nor technical analysis. The recommended strategy is one that you, an individual investor, can readily adopt for yourself.

That investment method involves:

• Asset allocation: Determine the portion of your assets to be invested in the stock market and in other asset classes, such as bonds, cash equivalents, real estate, collectibles, and so forth. The methods discussed here are limited to working with the funds allocated to investing in the stock markets of the world.

• Diversification: Using the teachings of modern portfolio theory, you build a portfolio of stock market investments. Building an appropriate, diversified portfolio (diversification reduces risk) is much easier to accomplish than you might believe. You’ll learn to use the modern version of the traditional mutual fund, the exchange traded fund, as the backbone of your portfolio.

• Stock options: We’ll explode the myth that options are dangerous. This versatile investment tool can be used conservatively and intelligently to enhance the performance of your stock market portfolio. You’ll learn to adopt an easy-to-understand options strategy that both enhances performance and reduces risk even further.

You can easily learn to manage your own portfolio better and more efficiently than professional money managers. Instead of paying someone else to provide for your future financial security, you get to own and operate your own mutual fund—really a hedge fund. You can avoid the risk of hiring fund managers who are unqualified. You can eliminate the uncomfortable feeling of having money invested when you don’t fully understand the investment methods used by those managing your money. If you follow the strategies outlined in this book, you won’t have to worry about the integrity of the fund manager, because you will be managing your investments by yourself. There will be no worry about the managers taking more risk than you are willing to take, for you will be managing that risk yourself.