t*m
发帖数: 4414 | 1 几个月前用空做了一个simulation, 假设投资15, 14, 13, 12, 11, or 10年至今。
starting allocation: 20% VBTLX; 80% VFIAX
Scenarios:
1. never rebalance
2. rebalance every 6 months
3. rebalance every 12 months
4. rebalance when allocation is 3% of my target (20/80)
5. rebalance when allocation is 5% of my target (20/80)
6. rebalance when allocation is 10% of my target (20/80)
最后结果，各个scenario 之最终的收益，几乎没有差别。
结论，
(1) rebalance 没有什么大用。
(2) rebalance 也没有什么大坏处。
（我假设钱在IRA里，没有考虑税的问题。） |
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b*****h
发帖数: 3386 | 2 http://www.nasdaq.net/PublicPages/Russell_Rebalance.aspx
The Russell Rebalance
HIGHLIGHTS:
On Friday, June 26, 2009, Russell will reconstitute its indexes, to
rebalance the largest companies in the market. The annual Russell
Reconstitution is usually one of the most highly-anticipated and heaviest
trading days in the US equity markets.
Each year, the Russell Investment Group rebalances its indexes during its
annual reconstitution — commonly known as the Russell Reconstitution or the
Russell Reba... 阅读全帖 |
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s*******d
发帖数: 126 | 3 Let me be fairly clear here as I do not wish to mislead anyone on the effect
of rebalance. Rebalance is not a magic bullet that can protect you from "
losing" money in the stock market, or protect you from making bad
investement decisions. The only thing that it can do is to add some positive
returns to your portfolio, when compared to a portfolio that is statically
managed, without any rebalance. This is what I mean.
The S&P500 index ends in 940 last Friday, almost the same as what it was
back |
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s*****w
发帖数: 2065 | 5 这个东西相关的专业名词叫predatory trading，就是大家知道有russel rebalance这回
事，所以抢在rebalance之前做同向交易来套利。
理论研究的结论是追捕的人多到一定程度，可套之利就非常之小了。于是有关部门通过
公布rebalance的日期来吸引追捕者以减少损失。
至于最后的综合结果，我也不太清楚。。。 |
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K****D
发帖数: 30533 | 6 ☆─────────────────────────────────────☆
shangstud (某某某) 于 (Fri Oct 17 17:40:59 2008) 提到:
when I read the tread on not copying what Warren Buffet did, someone, might
be splendidchen? mentions that buy-and-hold is not the same as never sell
anything and that it is important to do asset allocation and rebalance.
I completely agree to that and I think it is ultimately important to do your
diversification, do you allocation, and do your rebalance.
From what I understand, the purpose of doing all |
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r****m
发帖数: 1204 | 7 Easy - rebalance to go back to your target Stock/Bond ratio.
But be careful - too frequent rebalances may lead to unnecessary costs.
If you don't have a target S/B ratio yet, it's time to do some study and
figure out the right one for your situation. |
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D*****t
发帖数: 558 | 8 Here is an easy-to-understand analysis
http://servowealth.com/resources/articles/john-bogle-misses-boa
Key to successful long term investing, imo, are three factors in the
following order:
1. asset allocation
2. rebalance
3. picking the right fund/etf/... Since most people including myself will do
this wrong, I consider this of zero importance. |
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S**C
发帖数: 2964 | 9 Rebalance provides no meaningful benefit according Vanguard Research and
Jack Bogle.
do |
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m**i
发帖数: 394 | 10 Assume one is doing well in 1.
What do you do for each asset?
For cash, there are a few choices, RMB, $, uro, yen, etc, or cash funds.
For bond, there are funds for it.
For stocks, there are funds for it.
There are also asset allocation funds.
I mean 3 is orthogonal to others.
But you are right, asset allocation, is very personal.
For the impact of rebalance, it depends on the sum asset one has.
For 2M, 0.5% per year, it is 10K per year and 100K for 10 years.
For 20M, 0.5% per year, it is 100K p... 阅读全帖 |
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c*******e
发帖数: 8624 | 11 rebalance的原理是卖掉贵的买入便宜的。你需要自己确定一个比例，如果
你定下了80:20，那就在某年／半年／季度某个时间rebalance回到80:20。
据说会有微小的好处，但那也是根据历史数据的，不一定会在将来成立。
关于2，很难，也许你做的相当于卖了便宜的去买贵的。我建议直接指数就好。
年轻的话直接100%指数。
3，没有税的问题。
bond |
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g****e
发帖数: 141 | 12 350z, 维护手册上没说rebalance的事，我需要自己做吗？
谢谢！ |
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c****o
发帖数: 32446 | 13 啊别，今天可别回7K，俺rebalance了20%cash |
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s******y
发帖数: 200 | 14 终于做好401k的MF profolio了。但是现在基本每个fund都在上涨，今天是大面积作
rebalance的时机么？ |
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l***n
发帖数: 731 | 15 新手，啥也不懂。
作REBALANCE是不是要在股票和基金比较低的时候作？ 或者任意时候？ |
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s********n
发帖数: 1962 | 16 Rebalance once or twice a year. |
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s********z
发帖数: 5411 | 17 assuming there is no costs(transaction and/or spread) to rebalancing, then a
more frequent rebalancing is better.
some college endowments rebalance daily. |
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z****7
发帖数: 880 | 19 哪里可以查到vanguard Balanced Index Fund (VBIAX)什么时候rebalance?
turnover还挺高的。
target retirement fund的也找不到。 |
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p**h
发帖数: 1105 | 20 My understanding on rebalance is:
(1) buy when oversold
(2) sell when overbought
(3) However, high could be higher high and low could be lower low, so I have
never all-in in one time, the % of every action is about 30% of position |
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f*******g
发帖数: 377 | 21 Rebalance using new money for taxable accounts...
For tax-deferred accounts, tax does not matter & fees in most cases are low.
.. |
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M*********l
发帖数: 378 | 22 Fidelity ROTH里的基金基本都是今年3月份左右买入的，最近这几天狂跌，和LD两人的
账户总共亏了将近一千刀了，具体组成列在下面，请教在现在这种市场情况下，需要在
未来几天（或者几个月）怎么样rebalance里头的基金？包子答谢！
ROTH IRA
FFNOX -2.90% $5,000.00
PRPFX -5.59% $4,000.00
FBIOX -6.28% $3,500.00
FGMNX -4.76% $2,504.17
MCHFX -9.56% $1,000.00
另外，401K账户的价值波动似乎还能接受，如下组成有没有改动的建议吗？
Personal Rate of Return from 01/01/2013 to 06/25/2013 is 7.4%
Large Cap
19.68% HARBOR CAP APPR INST
Mid-Cap
10.58% FID LOW PRICED STK K
9.93% PRU/J MID CAP GRTH Q
Small Ca... 阅读全帖 |
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p**h
发帖数: 1105 | 23 你的钱现在全在MF里， 现在做Rebalance 有什么意义？ 也许卖在最低点。。 |
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c******g
发帖数: 2323 | 24 The lession is not to buy all at the same time, unless u can time the market.
No need to rebalance, cause u have a good chance to sell low and buy high
again.
If u really want to, just buy total stock, do not try to predic which MF
will beat the index. |
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m**a
发帖数: 1840 | 25 【 以下文字转载自 Stock 讨论区 】
发信人: mola (Super Baby), 信区: Stock
标 题: 401账户rebalance求建议
发信站: BBS 未名空间站 (Thu Dec 29 13:03:40 2016, 美东)
想从stock拿出点钱，是不是应该放到money market里？
bond是不是还要继续跌？
还有离开原来的公司，401转成IRA如何操作？据说还可以转成roth？
谢谢 |
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z*******i
发帖数: 2904 | 26 不知道rebalance这个词用的对不对，我想请教的是如果一开始定的比例是stock和bond
80%和20%，但是过了一年， 成了大概Stock 75% Bond 25%，这个时候怎么调整。
1. 假设现在选的stock和bond还行，只是需要调整比例，那是把现在在账户里的bond卖
掉一些，买入一些stock；还是说现在账户里的保持不变，新一年买stock和bond的时候
，调整一下比例，使两年内的比例还是80% 和 20%？
2. 假设现在选的stock和bond一般般，想换一些别的，那是卖不卖现在的换新的，还是
只卖新的现在的也留着？
3. 401和IRA里面如果卖了产生盈利，不会对下一年报税产生啥影响吧？我想的税的问
题应该是到从401和IRA里面取钱的时候才会产生的。
先谢谢了！ |
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m*********y
发帖数: 1890 | 27 不好意思 这个rebalance 长期效果是毋庸置疑的，尤其是在股市大幅震荡时。
和diversification 一样 这个也是投资铁律之一。 |
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h***n
发帖数: 1600 | 28 rebalance的目的不是为了提高盈利，而是为了控制风险在你能承受的范围。因为stock
的风险比bond大得多. 95%stocks+5%bonds 和 80%stocks+20%bonds 两者的风险是不
一样的。
当股票上升或下跌后你的stock/bond 比例变了，你进行调整到原来设置的比例，不见
得会一定增加盈利的，因为有可能前一年长的还会继续长跌得还会继续跌， 但这样做
可以控制下行风险不至于超过你能承受的心理范围。最坏的投资是在股票暴跌时由于恐
慌而卖掉，或者由于心情不好影响了自己正常生活。 |
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s****9
发帖数: 337 | 29 What is the russel rebalance? Good or bad for market? |
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s****l
发帖数: 10462 | 30 Russell rebalance 真有意思，最后几分钟甚至盘后都是暴量啊。
不过应该都是一次性deal，不太能说明什么吧？ |
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c*****9
发帖数: 298 | 31 好几年了, 才发现我的401K帐户中,90%被自动放在一个investment option中, 听说可
以自己做rebalance, 好象就是卖掉一些, 然后买其他的股票或基金. 对吗? 要收费吗
? 百分比是多少? |
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i******r
发帖数: 861 | 32 找到了一个解释：
Indexes like the Russell indexes are constantly changing the firms that are
included in their indexes. Those indexes are also market capitalization
weighted indexes so whenever the float (number of shares in circulation)
changes from share buybacks, option exercises, etc. the indexes must be
rebalanced to mirror the new "weight" of that firm compared to the others.
Unless there is a relatively large float change (I believe more than 5%) in
between typical rebalancing cycles, the indexes... 阅读全帖 |
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w**********l
发帖数: 8501 | 33 跟着专家学了新词，russel rebalance， 好奇之下，看了看2010年的6月25日，之后啥
也没改变呀，7月2日才反转的。
好几位爷专门提这个想说明啥呀？
量不量的，趋势根本没变，量就算奔月了，也影响不到青蛙们的个股啊，
青蛙们现在手里囤积的是新浪，人人，奇虎，搜狐，还有油，spy， msft, bac什么的
， 高级青蛙们手里的是ES和NQ什么的。 |
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s**x
发帖数: 405 | 34 once every calendar quarter (1/1-3/31, 4/1-6/30, etc.)
you can rebalance more often, but after a few times then you will receive
warning letters. eventually you can only do once per quarter. |
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B**********r
发帖数: 7517 | 35 过去三天S&P大涨2%多，而Portfolio的beta低于0.5，所以跑输不少。
今天Portfolio的beta第一次跌到0.2以下。现在就按收盘价做rebalance，不要任何主
观判断。为简单起见，6个ETF都严格按最初比例重新增仓减仓（实际操作中，如果某些
基金仓位变化很小，不必买卖）。 |
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v***0
发帖数: 5096 | 37 年底打算rebalance一下，各位觉得挪到哪个基金上避险比较好？ |
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t*******l
发帖数: 3662 | 38 一个问题。我登录到401k的网站上，发现上面显示的401k基金价格是昨天的市场价格,
而不是当前retail market的今日价格。如果假设我今天做rebalance，那么是按照昨天
的价格，今天的价格还是明天的价格进行结算呢？ |
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t*******l
发帖数: 3662 | 39 When we do 401k rebalance, or sell or buy mutual fund in 401k, is the price
based on previous day's closing price? |
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t**r
发帖数: 3428 | 40 4０1大家都rebalance 了么？还是放着等反弹？ |
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b****6
发帖数: 155 | 43 很频繁的rebalance，会把正在升值的资产卖掉，应该对回报不利。比如前几年，经常
rebalance应该比不rebalance差。理论上讲，trend强时不rebalance好，波动大时，r
ēbalance好。两者各有优势。
我看到vanguard创始人说，rebalance没用。他说只是心理上感觉好些。：）如果相信
的话。就没必要拿bond了。除非在10年之内提现。
Effic
响并
。R
★ 发自iPhone App: ChineseWeb 8.2.1 |
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K**W
发帖数: 6346 | 44 Prime Minister: "We want a strong relationship with China"
Introduction
Twenty five years ago I came to Hong Kong as a student.
The year was 1985.
Deng Xiaoping and Margaret Thatcher had recently signed the historic Joint
Declaration.
The remarkable story of the successful handover of Hong Kong and the great
progress Hong Kong has continued to make is an example to the world of what
can be achieved when two countries cooperate in confidence and with mutual
respect.
Since then, China has changed ... 阅读全帖 |
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s******y
发帖数: 200 | 45 hmm,你是说只有在holding period（30 days）之内交易才会被收这个1% redemption
fee, 是么？
FDIVX shares are sold when:
• Participant initiated fund transfers and rebalances
• Auto rebalancing (monthly or quarterly basis)
• Full termination distribution
• Partial termination distribution
• Death distributions
• Disability distributions
• Installment distributions
正在察看账户是怎么rebalance的。
1。 Rebalance
A rebalance will change how your current account balance is invested. Your
plan has |
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m**c
发帖数: 7349 | 46 THE REBALANCE
Image Credit:聽Official White House Photo
Obama鈥檚 Last Asia Trip: What鈥檚 on the Agenda in China and Laos?
Apart from a range of engagements, the president will reinforce the
significance of the rebalance.
By聽Prashanth Parameswaran
September 03, 2016
聽
聽
聽
聽
聽
聽
聽
On September 3, Barack Obama will embark on his 11th trip to Asia, visiting
China and Laos. Though the trip is centered on his attendance at ASEAN-led
and G20 meetings, given that this will be his last trip to the region be... 阅读全帖 |
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b****n
发帖数: 993 | 47 最优化的rebalance的方法到底是什么？有确凿的证据表明每天rebalance会带来更好的
回报吗？我怎么觉得每天rebalance会降低回报。
importance |
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b****n
发帖数: 993 | 48 大多数人是不明白rebalance的重要性。但是我前面提出的问题是rebalance的频繁程度
。记得读过一些这方面的文章，过于频繁地rebalance并不好。而且这一点应该很容易
验证，只要把用历史数据做一个portfolio，back test一下就行了。 |
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t***n
发帖数: 546 | 49 说index并不是只持有一种index，而是用index来配出自己理想的asset allocation，
并且不停的rebalance。用index是因为fee低，而且一般在那个asset的efficiency
frontier。正真的risk 和return由asset allocation决定。
如果真的坚持固定的asset allocation并且及时rebalance的话，在2000年的internet
泡沫前已经卖了不少到bond了吧。在08年也会卖了不少bond来填股票，到现在股票
index都涨了一倍了吧。
关键要rebalance，这样才能take advantage of各个asset class之间的low
correlation。有涨有跌才能赚钱嘛。 |
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g******o
发帖数: 4042 | 50 你那根本就不叫rebalance
所以不是rebalance的问题
所以核心还是rebalance |
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