p********0
发帖数: 186 | 1 HI,
I have a question about the index fund,
Assume the index fund contains 2 stocks without loss of generality,
STOCK 1, market_cap 1 million
STOCK 2, market_cap 10 million.
So the Index fund will buy X values of STOCK 1, and buy 10 X values of STOCK
2,
with the values proportional to the MARKET_CAP of individual.
Is this correct?
Or Index fund buy same X values for both STOCK 1 and STOCK 2.
Thanks | p********0
发帖数: 186 | 2 Because a market portfolio means you should buy the stocks with value
proportional to the monetary shares in the whole market.
So it doesnot make sense that the index fund buy same value for Exoon mobile
and a really small company, otherwise the resulting portfolio is not the
market portfolio. | l***n
发帖数: 812 | 3 You can pick up one porfolio textbook to check it out.
There are more than several weighting system:
1, price weighted
2, equal weighted
3, value weighted
What you mentioned is value weighted sytem, which is used in NASDAQ. Other
methods are quite useful as well. Say Dow Jones Industrial Index uses price
weighted system.
mobile
【在 p********0 的大作中提到】
: Because a market portfolio means you should buy the stocks with value
: proportional to the monetary shares in the whole market.
: So it doesnot make sense that the index fund buy same value for Exoon mobile
: and a really small company, otherwise the resulting portfolio is not the
: market portfolio.
| y*w
发帖数: 238 | 4 和index本身有关系的，dow貌似是价格加权的
STOCK
【在 p********0 的大作中提到】
: HI,
: I have a question about the index fund,
: Assume the index fund contains 2 stocks without loss of generality,
: STOCK 1, market_cap 1 million
: STOCK 2, market_cap 10 million.
: So the Index fund will buy X values of STOCK 1, and buy 10 X values of STOCK
: 2,
: with the values proportional to the MARKET_CAP of individual.
: Is this correct?
: Or Index fund buy same X values for both STOCK 1 and STOCK 2.
|
|
