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online quickbook 使用求教!!! (转载)
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online quickbook 使用求教!!! (转载)# Accounting - 会计审计
BR
1 楼
7月中走，8月中回来。大家都买到哪家公司的什么价格？谢谢！
avatar
n*k
2 楼
奶奶的，拼了。
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r*m
3 楼
到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
的年收益。
实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
现在两个问题
1. 寻找合适的portfolio model中发现了这个lazy portfolio
http://www.bogleheads.org/wiki/Lazy_Portfolios
结果based on the links below 发现没有一个能超越五年5.3% 的
http://assetbuilder.com/couch_potato/couch_potato_results.aspx
很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
dollar average down，所以恢复后就offset了那些loss？
可是那些model portfolio suppose 也是要rebalance的
难道在downturn熊市 的时候 DAD 是个比 rebalance 更好的策略？
2. Rebalance 的cost 难道不是让index fund 出局了，rebalance 频率应该是多少才
合理呢？
avatar
d*0
4 楼
tmd 还准备holiday season备足货，现在玄了。
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r*z
5 楼
第一次认真使用单反。请给建议。
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d*0
6 楼
【 以下文字转载自 Accounting_Job_Network 俱乐部 】
发信人: dallas2010 (xinxin), 信区: Accounting_Job_Network
标 题: online quickbook 使用求教!!!
发信站: BBS 未名空间站 (Mon Aug 8 09:56:16 2011, 美东)
急啊,有一个问题向大家请教:
我的老板让我做一个online的quickbook相关的工作(本人周五刚刚找到了一个part
time 的工作).不过老板只告诉了我密码没告诉我用户名,是不是每个公司的online
quickbook的使用都应该有一个用户名,然后是密码,才能够进入系统去开始工作啊?因为
本人号称是用过quickbook(其实多年前是用过的,但不是online的)的,所以也不好意思
贸然的问老板,怕露怯啊!
叩谢了啊!!!
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e*o
7 楼
都要1500刀左右了吧

【在 BR 的大作中提到】
: 7月中走，8月中回来。大家都买到哪家公司的什么价格？谢谢！
avatar
L*3
8 楼
现在跌停的好多
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s*y
9 楼
index fund is the right strategy. you don't have to beat 5.3%.

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
e*7
10 楼
不明白，啥意思？
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S*M
11 楼
继续努力

【在 r*z 的大作中提到】
: 第一次认真使用单反。请给建议。
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a*3
12 楼
I only downloaded the trial version of online QB and it requires username
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c*g
13 楼
东北起飞 1600+
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t*y
14 楼
今天涨8点，但是有300家跌幅超过5%，120家跌幅超过8%，跌停的超过60家。
基本和2天前涨10点的时候形势差不多。今天几家涨停的，都是跌幅接近50%的
今天之所有指数上来，是因为流通市值前十的，甚至没有一个跌的。
我感觉有点开始要做大市值的迹象了。11月12月大市值的动，指数跟着动。
前天和今天，大市值的动了指数基本没动。很可能是一种演习。
可惜我现在资金是1/4在银行 1/4在大盘股， 1/4在中盘股 1/4在小盘股。
没办法吃到什么

【在 L********3 的大作中提到】
: 现在跌停的好多
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s*z
15 楼
find a financial advisor
avatar
d*0
16 楼
M.E.T. - MANIFEST EXAMINATION TEAM, a team of U.S. Customs officials that
examine invoices and packing lists on a random basis.

【在 e****7 的大作中提到】
: 不明白，啥意思？
avatar
r*z
17 楼
怎么努力法？没IDEA。。。

【在 S*M 的大作中提到】
: 继续努力
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D*5
18 楼
按理说，应该是每个user用自己的email去注册一个ID，有自己的passpord。
但有时候可能达到user的limit了，所以他想让你用他的ID，那么你就必须得要他的
user name，光有password没用。
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d*l
19 楼
1100,UA前几天定的
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s*n
20 楼
index fund 的 cost 一般都是最低的。因为 turn over rate 很低。怎么到你那
变成最高的就直接出局了？

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
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j*s
21 楼
Oh, do you know how long it will take? You may still have enough time.
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S*M
22 楼
多拍就行了

【在 r*z 的大作中提到】
: 怎么努力法？没IDEA。。。
avatar
r*m
23 楼
some funds have minimum holding period, right? if I sell earlier, there will
be a penalty fee??
BTW:
What is the best rebalance strategy? Calendar or Band based?

【在 s********n 的大作中提到】
: index fund 的 cost 一般都是最低的。因为 turn over rate 很低。怎么到你那
: 变成最高的就直接出局了？
avatar
h*g
24 楼
还要多看
看看别人怎么拍的

【在 S*M 的大作中提到】
: 多拍就行了
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s*n
25 楼
Most MFs have minimum holding period. However, it shouldn't be
your problem, because MFs are not supposed to be traded frequently.
And you only need to rebalance at most twice a year.
I don't know calendar or band, which one is better. I have the
impression that band is better. But I am not sure.

【在 r**m 的大作中提到】
: some funds have minimum holding period, right? if I sell earlier, there will
: be a penalty fee??
: BTW:
: What is the best rebalance strategy? Calendar or Band based?
avatar
r*m
26 楼
贴几个research到的model portfolio
Burton Malkiel (princeton professor) model portfolio
他的组合号称可以在2000-2009 这样的时期仍然double.
Nobel Prize-winning economist Burton Malkiel studied a diversified mutual
strategy and found that an investor could have almost doubled his money from
2000 to the end of 2009 by using index funds. He looked at broadly based,
low cost index mutual funds that focused on U.S. bonds, U.S. stocks,
developed foreign markets, stocks in emerging markets and real estate
securities.
Read more: http://www.investopedia.com/articles/exchangetradedfunds/11/all-weather-investing-with-etfs.asp#ixzz27bFMGHdt
Low-Cost Expert Investment Portfolio (Burton Malkiel)
http://www.kiplinger.com/tools/investment-portfolio-finder/tabl
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r*m
28 楼
Mebane Faber (10 month average ~= momentum )
采用200天移动平均线作为操作标准，如果某asset class跌过平均线就卖出，持有现金
，不rebalance，直到买入信号出现，这个实际上market timing了，已经违背了
基本的index 投资的原则，但是 bogleheads 多人back test的结果都是出奇的好，
不仅可以有效避免两次大熊市，而且牛市表现也不俗。
The work of Mebane Faber demonstrates that moderately active management can
help investors avoid the worst of bear markets. Faber looked at five asset
classes - U.S. stocks, foreign stocks, real estate, commodities and the U.S.
10-year Treasury bonds. He used a simple buy rule, holding the asset only
when it was above its 10-month moving average.
The moving average is designed to look beyond the short-term trends within
price data and help investors spot the longer-term trend. Faber's study
assumes that you only own the asset class when it is on a buy signal. When
prices fall below the 10-month average, you move to cash for that portion of
the portfolio. The results are impressive, an average annual return of 11.
27% from 1973 through the devastating bear market of 2008.
Read more: http://www.investopedia.com/articles/exchangetradedfunds/11/all-weather-investing-with-etfs.asp#ixzz27bKC91zM
Quantitative Approach to Tactical Asset Allocation by Faber
http://www.bogleheads.org/forum/viewtopic.php?t=72400
http://www.bogleheads.org/forum/viewtopic.php?t=27460
back test show 这个方法成功地避免了2008，2009的熊市。
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F*w
29 楼
don't. they are young good looking guys who knows how to talk.
they don't know shit.
normally losers became financial advisors.

【在 s********z 的大作中提到】
: find a financial advisor
avatar
J*y
30 楼
这个人提到每年rebalance portfolio:
"money is taken out of the funds that performed better in the prior year and
deposited into the funds that under-performed in the prior year"
把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
难道要从五星放到一星的基金？
是我的理解有误？

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
g*o
31 楼
这些玩意儿都是跳大神，经不起推敲的

and
星。

【在 J*y 的大作中提到】
: 这个人提到每年rebalance portfolio:
: "money is taken out of the funds that performed better in the prior year and
: deposited into the funds that under-performed in the prior year"
: 把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
: morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
: 难道要从五星放到一星的基金？
: 是我的理解有误？
avatar
y*i
33 楼
Dependent on how long term and in your taxable or tax deferred account. For
me, the easiest long term for taxable account is individual muni bond. It
guarantee your investment doubled for 15 years if you like semiannually
interest payment or 12 years if you choose zero coupon, and all interests
are tax free. If in your tax deferred account, then BBB Investment grade
corporate bond like Genworth 6-8 percent yield 7-9 year
maturity, m-REIT like ARR or AGNC 15 percent yield, business development
company （BDC）like PSEC 10-11 percent yield. All are good for Ira or Roth
IRA, buy the dip for each section. For all investment, you can sell it when
the capital gain is high enough or the yield is too low which means you need
to switch sections.
avatar
E*w
34 楼
利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。

For
when
need

【在 y****i 的大作中提到】
: Dependent on how long term and in your taxable or tax deferred account. For
: me, the easiest long term for taxable account is individual muni bond. It
: guarantee your investment doubled for 15 years if you like semiannually
: interest payment or 12 years if you choose zero coupon, and all interests
: are tax free. If in your tax deferred account, then BBB Investment grade
: corporate bond like Genworth 6-8 percent yield 7-9 year
: maturity, m-REIT like ARR or AGNC 15 percent yield, business development
: company （BDC）like PSEC 10-11 percent yield. All are good for Ira or Roth
: IRA, buy the dip for each section. For all investment, you can sell it when
: the capital gain is high enough or the yield is too low which means you need
avatar
y*i
35 楼
I do not recommend any treasury bond, agency bond or any individual bond
with underlying rating above AA because the yield is too low. Of course
there always are interest and inflation risks, but nobody can predict when
the interest will take off and stock will do better than low rating
investment bond or junk bond. If you have large asset, boring bond
investment provide monthly fixed income which is better than real estate
because you don't need to deal with bad renters. Of course for the person
who still need downpayment for their first house, stock or even option is
considered because their asset is small.

【在 E******w 的大作中提到】
: 利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。
:
: For
: when
: need
avatar
y*i
36 楼
I do not recommend any treasury bond, agency bond or any individual bond
with underlying rating above AA because the yield is too low. Of course
there always are interest and inflation risks, but nobody can predict when
the interest will take off and stock will do better than low rating
investment bond or junk bond. If you have large asset, boring bond
investment provide monthly fixed income which is better than real estate
because you don't need to deal with bad renters. Of course for the person
who still need downpayment for their first house, stock or even option is
considered because their asset is small.

【在 E******w 的大作中提到】
: 利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。
:
: For
: when
: need
avatar
E*w
37 楼
You are talking about general rules without considering the market condition
. For example, there is a huge difference between recommending real estate
investment now and recommending real estate investment in 2006.

【在 y****i 的大作中提到】
: I do not recommend any treasury bond, agency bond or any individual bond
: with underlying rating above AA because the yield is too low. Of course
: there always are interest and inflation risks, but nobody can predict when
: the interest will take off and stock will do better than low rating
: investment bond or junk bond. If you have large asset, boring bond
: investment provide monthly fixed income which is better than real estate
: because you don't need to deal with bad renters. Of course for the person
: who still need downpayment for their first house, stock or even option is
: considered because their asset is small.
avatar
p*h
38 楼
其实他是sector rotation的意思。 上一年没有涨的sector， 会在这一年补涨； 上一
年涨太多的， 这一年的momentum 就会减弱， 没有只涨不跌的投资产品， 都是涨落参
现地

and
星。

【在 J*y 的大作中提到】
: 这个人提到每年rebalance portfolio:
: "money is taken out of the funds that performed better in the prior year and
: deposited into the funds that under-performed in the prior year"
: 把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
: morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
: 难道要从五星放到一星的基金？
: 是我的理解有误？
avatar
n*k
39 楼
5年略亏。。。。。。貌似你把钱换rmb打回国内定存好了。。。。。。

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
u*e
40 楼
天下没有免费的午餐
如果想beat index, 你需要花很多的时间, 同时也要有足够的耐心和天份.
省事的是直接投index mutual fund, 成本最低, 收益一般能保证打败inflation
如果想更高的回报, 可以选择一些 GROWTH MUTUAL FUND, 不过这可能需要你花一定时
间去一次性考察比较各个fund

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
r*m
41 楼
Thanks
I am debating on whether to choose index mutual fund or ETF, what is your
opinion?

【在 u********e 的大作中提到】
: 天下没有免费的午餐
: 如果想beat index, 你需要花很多的时间, 同时也要有足够的耐心和天份.
: 省事的是直接投index mutual fund, 成本最低, 收益一般能保证打败inflation
: 如果想更高的回报, 可以选择一些 GROWTH MUTUAL FUND, 不过这可能需要你花一定时
: 间去一次性考察比较各个fund
avatar
r*m
42 楼
到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
的年收益。
实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
现在两个问题
1. 寻找合适的portfolio model中发现了这个lazy portfolio
http://www.bogleheads.org/wiki/Lazy_Portfolios
结果based on the links below 发现没有一个能超越五年5.3% 的
http://assetbuilder.com/couch_potato/couch_potato_results.aspx
很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
dollar average down，所以恢复后就offset了那些loss？
可是那些model portfolio suppose 也是要rebalance的
难道在downturn熊市 的时候 DAD 是个比 rebalance 更好的策略？
2. Rebalance 的cost 难道不是让index fund 出局了，rebalance 频率应该是多少才
合理呢？
avatar
s*y
43 楼
index fund is the right strategy. you don't have to beat 5.3%.

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
s*z
44 楼
find a financial advisor
avatar
s*n
45 楼
index fund 的 cost 一般都是最低的。因为 turn over rate 很低。怎么到你那
变成最高的就直接出局了？

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
r*m
46 楼
some funds have minimum holding period, right? if I sell earlier, there will
be a penalty fee??
BTW:
What is the best rebalance strategy? Calendar or Band based?

【在 s********n 的大作中提到】
: index fund 的 cost 一般都是最低的。因为 turn over rate 很低。怎么到你那
: 变成最高的就直接出局了？
avatar
s*n
47 楼
Most MFs have minimum holding period. However, it shouldn't be
your problem, because MFs are not supposed to be traded frequently.
And you only need to rebalance at most twice a year.
I don't know calendar or band, which one is better. I have the
impression that band is better. But I am not sure.

【在 r**m 的大作中提到】
: some funds have minimum holding period, right? if I sell earlier, there will
: be a penalty fee??
: BTW:
: What is the best rebalance strategy? Calendar or Band based?
avatar
r*m
48 楼
贴几个research到的model portfolio
Burton Malkiel (princeton professor) model portfolio
他的组合号称可以在2000-2009 这样的时期仍然double.
Nobel Prize-winning economist Burton Malkiel studied a diversified mutual
strategy and found that an investor could have almost doubled his money from
2000 to the end of 2009 by using index funds. He looked at broadly based,
low cost index mutual funds that focused on U.S. bonds, U.S. stocks,
developed foreign markets, stocks in emerging markets and real estate
securities.
Read more: http://www.investopedia.com/articles/exchangetradedfunds/11/all-weather-investing-with-etfs.asp#ixzz27bFMGHdt
Low-Cost Expert Investment Portfolio (Burton Malkiel)
http://www.kiplinger.com/tools/investment-portfolio-finder/tabl
avatar
r*m
50 楼
Mebane Faber (10 month average ~= momentum )
采用200天移动平均线作为操作标准，如果某asset class跌过平均线就卖出，持有现金
，不rebalance，直到买入信号出现，这个实际上market timing了，已经违背了
基本的index 投资的原则，但是 bogleheads 多人back test的结果都是出奇的好，
不仅可以有效避免两次大熊市，而且牛市表现也不俗。
The work of Mebane Faber demonstrates that moderately active management can
help investors avoid the worst of bear markets. Faber looked at five asset
classes - U.S. stocks, foreign stocks, real estate, commodities and the U.S.
10-year Treasury bonds. He used a simple buy rule, holding the asset only
when it was above its 10-month moving average.
The moving average is designed to look beyond the short-term trends within
price data and help investors spot the longer-term trend. Faber's study
assumes that you only own the asset class when it is on a buy signal. When
prices fall below the 10-month average, you move to cash for that portion of
the portfolio. The results are impressive, an average annual return of 11.
27% from 1973 through the devastating bear market of 2008.
Read more: http://www.investopedia.com/articles/exchangetradedfunds/11/all-weather-investing-with-etfs.asp#ixzz27bKC91zM
Quantitative Approach to Tactical Asset Allocation by Faber
http://www.bogleheads.org/forum/viewtopic.php?t=72400
http://www.bogleheads.org/forum/viewtopic.php?t=27460
back test show 这个方法成功地避免了2008，2009的熊市。
avatar
F*w
51 楼
don't. they are young good looking guys who knows how to talk.
they don't know shit.
normally losers became financial advisors.

【在 s********z 的大作中提到】
: find a financial advisor
avatar
J*y
52 楼
这个人提到每年rebalance portfolio:
"money is taken out of the funds that performed better in the prior year and
deposited into the funds that under-performed in the prior year"
把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
难道要从五星放到一星的基金？
是我的理解有误？

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
g*o
53 楼
这些玩意儿都是跳大神，经不起推敲的

and
星。

【在 J*y 的大作中提到】
: 这个人提到每年rebalance portfolio:
: "money is taken out of the funds that performed better in the prior year and
: deposited into the funds that under-performed in the prior year"
: 把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
: morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
: 难道要从五星放到一星的基金？
: 是我的理解有误？
avatar
y*i
55 楼
Dependent on how long term and in your taxable or tax deferred account. For
me, the easiest long term for taxable account is individual muni bond. It
guarantee your investment doubled for 15 years if you like semiannually
interest payment or 12 years if you choose zero coupon, and all interests
are tax free. If in your tax deferred account, then BBB Investment grade
corporate bond like Genworth 6-8 percent yield 7-9 year
maturity, m-REIT like ARR or AGNC 15 percent yield, business development
company （BDC）like PSEC 10-11 percent yield. All are good for Ira or Roth
IRA, buy the dip for each section. For all investment, you can sell it when
the capital gain is high enough or the yield is too low which means you need
to switch sections.
avatar
E*w
56 楼
利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。

For
when
need

【在 y****i 的大作中提到】
: Dependent on how long term and in your taxable or tax deferred account. For
: me, the easiest long term for taxable account is individual muni bond. It
: guarantee your investment doubled for 15 years if you like semiannually
: interest payment or 12 years if you choose zero coupon, and all interests
: are tax free. If in your tax deferred account, then BBB Investment grade
: corporate bond like Genworth 6-8 percent yield 7-9 year
: maturity, m-REIT like ARR or AGNC 15 percent yield, business development
: company （BDC）like PSEC 10-11 percent yield. All are good for Ira or Roth
: IRA, buy the dip for each section. For all investment, you can sell it when
: the capital gain is high enough or the yield is too low which means you need
avatar
y*i
57 楼
I do not recommend any treasury bond, agency bond or any individual bond
with underlying rating above AA because the yield is too low. Of course
there always are interest and inflation risks, but nobody can predict when
the interest will take off and stock will do better than low rating
investment bond or junk bond. If you have large asset, boring bond
investment provide monthly fixed income which is better than real estate
because you don't need to deal with bad renters. Of course for the person
who still need downpayment for their first house, stock or even option is
considered because their asset is small.

【在 E******w 的大作中提到】
: 利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。
:
: For
: when
: need
avatar
y*i
58 楼
I do not recommend any treasury bond, agency bond or any individual bond
with underlying rating above AA because the yield is too low. Of course
there always are interest and inflation risks, but nobody can predict when
the interest will take off and stock will do better than low rating
investment bond or junk bond. If you have large asset, boring bond
investment provide monthly fixed income which is better than real estate
because you don't need to deal with bad renters. Of course for the person
who still need downpayment for their first house, stock or even option is
considered because their asset is small.

【在 E******w 的大作中提到】
: 利率接近0的时候你推荐人家买bond？先学习学习bond price和利率的关系吧。
:
: For
: when
: need
avatar
E*w
59 楼
You are talking about general rules without considering the market condition
. For example, there is a huge difference between recommending real estate
investment now and recommending real estate investment in 2006.

【在 y****i 的大作中提到】
: I do not recommend any treasury bond, agency bond or any individual bond
: with underlying rating above AA because the yield is too low. Of course
: there always are interest and inflation risks, but nobody can predict when
: the interest will take off and stock will do better than low rating
: investment bond or junk bond. If you have large asset, boring bond
: investment provide monthly fixed income which is better than real estate
: because you don't need to deal with bad renters. Of course for the person
: who still need downpayment for their first house, stock or even option is
: considered because their asset is small.
avatar
p*h
60 楼
其实他是sector rotation的意思。 上一年没有涨的sector， 会在这一年补涨； 上一
年涨太多的， 这一年的momentum 就会减弱， 没有只涨不跌的投资产品， 都是涨落参
现地

and
星。

【在 J*y 的大作中提到】
: 这个人提到每年rebalance portfolio:
: "money is taken out of the funds that performed better in the prior year and
: deposited into the funds that under-performed in the prior year"
: 把钱从上一年表现好的基金中拿出来，投入到去年表现不好的基金中？
: morning star rating 五星的基金不都是根据过去的表现？表现不好才降级到三星一星。
: 难道要从五星放到一星的基金？
: 是我的理解有误？
avatar
n*k
61 楼
5年略亏。。。。。。貌似你把钱换rmb打回国内定存好了。。。。。。

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
u*e
62 楼
天下没有免费的午餐
如果想beat index, 你需要花很多的时间, 同时也要有足够的耐心和天份.
省事的是直接投index mutual fund, 成本最低, 收益一般能保证打败inflation
如果想更高的回报, 可以选择一些 GROWTH MUTUAL FUND, 不过这可能需要你花一定时
间去一次性考察比较各个fund

【在 r**m 的大作中提到】
: 到底怎样投资呢，这五年自己买的股票收益是略亏, 还不如公司的401k，五年是5.3%
: 的年收益。
: 实在不想在这上花费时间，所以想就用index fund 或者ETF 做个asset allocation
: based portofolio, 定期做rebalance，能达到或超过401k的收益就可以了
: 现在两个问题
: 1. 寻找合适的portfolio model中发现了这个lazy portfolio
: http://www.bogleheads.org/wiki/Lazy_Portfolios
: 结果based on the links below 发现没有一个能超越五年5.3% 的
: http://assetbuilder.com/couch_potato/couch_potato_results.aspx
: 很纳闷啊，难道是因为公司的401k portofolio在2009 大跌时期一直仍然在被动的
avatar
r*m
63 楼
Thanks
I am debating on whether to choose index mutual fund or ETF, what is your
opinion?

【在 u********e 的大作中提到】
: 天下没有免费的午餐
: 如果想beat index, 你需要花很多的时间, 同时也要有足够的耐心和天份.
: 省事的是直接投index mutual fund, 成本最低, 收益一般能保证打败inflation
: 如果想更高的回报, 可以选择一些 GROWTH MUTUAL FUND, 不过这可能需要你花一定时
: 间去一次性考察比较各个fund
avatar
r*m
64 楼
看到一个有趣的投资组合
Harry Browne 4 x25 permanent portfolio
http://www.getrichslowly.org/blog/2009/04/20/fail-safe-investin
25% in U.S. stocks, to provide a strong return during times of
prosperity. For this portion of the portfolio, Browne recommends a basic S&P
500 index fund such as VFINX or FSKMX.
25% in long-term U.S. Treasury bonds, which do well during prosperity
and during deflation (but which do poorly during other economic cycles).
25% in cash in order to hedge against periods of “tight money” or
recession. In this case, “cash” means a money-market fund. (Note that our
current recession is abnormal because money actually isn’t tight —
interest rates are very low.)
25% in precious metals (gold, specifically) in order to provide
protection during periods of inflation. Browne recommends gold bullion coins.
个人认为 似乎 25% cash， 25% gold 风险很大，虽然这个组合在过去十年中回报很
好，主要是因为黄金的暴涨。
理念： 经济的四个周期
First is an assumption that at all times the economy is experiencing one of
four conditions. Those being
Prosperity
Deflation
Inflation
Tight Money - Recession
Within the PP each asset class functions independently of the other three
and is designed to protect you in one of the four conditions listed above.
Specifically...
Stocks rise dramatically during periods of prosperity.
Long Term US Government Bonds rise dramatically during periods of deflation.
Gold rises dramatically during periods of inflation/currency debasement and
also protects you against catastrophic events like war or civil unrest.
Cash is the only neutral asset and it provides a cushion against periods
when central banks tighten the money supply creating a recession and also
allows you to handle unexpected emergencies in life without having to sell
other assets, possibly at a disadvantageous time.
avatar
y*u
65 楼
Personally I prefer ETF due to the low expense ratios and flexibility to
sell.

【在 r**m 的大作中提到】
: Thanks
: I am debating on whether to choose index mutual fund or ETF, what is your
: opinion?
avatar
r*m
66 楼
sb back tested this, the return is very good
http://madmoneymachine.com/portfolios/
http://www.bogleheads.org/forum/viewtopic.php?t=12737&start=0

&P
our

【在 r**m 的大作中提到】
: 看到一个有趣的投资组合
: Harry Browne 4 x25 permanent portfolio
: http://www.getrichslowly.org/blog/2009/04/20/fail-safe-investin
: 25% in U.S. stocks, to provide a strong return during times of
: prosperity. For this portion of the portfolio, Browne recommends a basic S&P
: 500 index fund such as VFINX or FSKMX.
: 25% in long-term U.S. Treasury bonds, which do well during prosperity
: and during deflation (but which do poorly during other economic cycles).
: 25% in cash in order to hedge against periods of “tight money” or
: recession. In this case, “cash” means a money-market fund. (Note that our
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