【每日阅读训练第四期——速度越障22系列】【22-18】经管_Mutual Fund

Jessica晶小晶

1.54’’ (187)
Introduce the definition of mutual funds and three ways to get profit from them.
2.1’10’’(273)
The advantages of mutual funds: professional management, diversification, lower transaction cost, liquidity and simplicity.
3.1’30’’ (268)
The disadvantages: the ability of professionals, operation fees that investors should pay, diversification means low profit, taxes
4.2’07’’(330)
The recent trend of increasing interest rate makes long term bond not a good investment and coupon is a better choice.
5.1’29’’(322)
Although long term bond is not profitable when interest rates are rising, it doesn’t mean people should sell all of it. The professor advices that people should be more diversified in their investment portfolio and decrease interest rate sensitive products.

5’54’’
There is a trend that many mutual funds close their doors to the new investors from 2011 to 2013. Experts say this is a good thing to protect existing investors, although new investments mean larger fees, they bring difficulties in managing the funds. But the close of funds may not be forever

zangchenglong

Time1 1:08
Time2 1:51
Time3 1:54
Time4 3:05
Time5 2:20

Obstacle 5:31
Some of the mutual fund start to close to the investor. It is a good and reponsible move to the investor. More money in the fund means more profits for fund manager to collect, but more money sometimes could be more difficult to manage. illustrate the point about how could more money be difficult for some fund manager to manage. In the end, some mutual fund could be re-open to the investor in the future.

李子要700

00.42
01.14
01.12
01.45
01.27
Ob 03.48  
终于补完最后一个作业了- -

icee913

楼主辛苦
今天交作业来
掌管 6        00:06:14.05        00:17:07.26
文章讲了Mutual Fund的现状，很多MF关闭了新购买的入口。
态度：support
原因：资金过多导致manager对投资决策的判断不能足够迅速有效
被关闭的MF也有重新开放购买的可能，但就现在的市场情况来说很难判断
掌管 5        00:02:48.92        00:10:53.20
掌管 4        00:03:05.86        00:08:04.28
掌管 3        00:01:48.22        00:04:58.41
掌管 2        00:01:57.33        00:03:10.19
掌管 1        00:01:12.85        00:01:12.85

sherryv

Intro Many people invest their money into mutual fund without figuring out what it really is. The article will clarify some myths about mutual fund.

Time1 How mutual fund works and how investors make profits from it.
Time2 Advantages of mutual fund: professional management, spread risk, high liquidity...
Time3 Didadvantages: doubt on the actual utility of mutual fund manager, fee, tax...
Time4 Since bond prices have negative relation with interest rate, investors have been earning money from mutual funds for a long time because interest rate has been decreasing. But recently, interest rate may have touched the bottom line. As a result, it is reasonable that mutual funds income is unstable, even less than before.
Time5 Interest rate wont increase in a rush. Despite that, investors should make some move: adjust and diversify their protofolio.

gyb192483

谢谢 心动！ 我们大家都会想念你的！

TIME1： 00‘48’‘ Definition of the mutual fund. The mutual fund is a kind of stock which is used to gether money from a group of people. The share holder can get profit from three ways: 1) the shareholder can sell their stock to get money 2) if the price of the stock is increased and the agent sells the stock, the share holder can get the dividend. 3) if the price is increased and the agent doesn's sell the stock, the shareholder can sell his own stock to get money. The fund will always provide two choices to you to let you decide whether invest more or get profit via check
TIME2:  01'17'' Advantages of the mutual fund.1) the professional management. people do not have plenty of time to focus on the stock. But by invest mutual fund, the special manager will monitor the stock for you all the time. 2) Low risk. the mutal fund invetst different bonds or stocks at the same time. Even one lost in a certain stock, he can gain from another stock 3) lower transaction charge 4) liquidility. one can transfer the stock into cash in any time 5) simplicity. one can buy the mutual fund easily with the minimum demand of 100 dollars
TIME3: 01'16'' The disadvantages of the mutul fund: 1) professional management. the manager who handles that stock may be less professional than the investor 2) diversity. the mutual fund can invest a lot of stocks. but the overall profit may be just equal to the profit from one certain stock. and the manager always has problem to decide to which he shoul invest when he got the new money 3) the tax. the shareholder should notice that there is tax for the bond whether they get profit from it or not 4) cost. to drive the managers to do the works, the shareholders should pay money. But the manager can not assure the profit. they can still get high salary even they do not manage the stock successfully
TIME4: 01'38'' The mutual fund is high interest payment while the rate becomes lower and lower. During the past 20-30 years, when the rate decreased, the interest of the mutual fund would increase. But now the situation is changed. And one can not imagine the same increase of the mutual fund
TIME5: 01'19'' The mutual fund bonds will be not affected as the ones in the 2008 economic crisis. Although the rates is increased, it is increased slowly. As a result, the mutual fund bonds will not see the return prodit down dramatically. The long term shareholder should not abandon their bonds because the bonds will still be profitable. The only difference is that the profit will be lower. It is not a bad news for the shareholder because their investment is diversity. They invest on the government bonds and even on the europe bonds

Obstacle: 04'39''
MI: The close of the mutual fund to the new buyers
ATT: neutral
STRUCTURE:
==> 300 mutual funds now close to the new buyers and 56 among these funds did it from january to june, a figure is higher than that of last two years
==> actually resulting from the low rate, the mutual fund bonds are increasing now. But the fund owners decide to protect the old buyers by preventing the new buyers from buying the fund. Althoug with more money, the funds wil get more profit, the funds can not sustain a good quality
==> one of the fund ower said that it is glad to see that the mutual found can consider the customers from the heart. this owner has a fund which can handle 700 million to 1 billion
==> the sharhoder's investment outweigh the withdrawing from the fund and it is remarkable although the figure is moderate in june
==> the mutual funds have a strict standard to evaluate the company before they invest the company, such as the product ,and the loyality.
==> whehter the fund will be opened to the new buyers is not determined. But some of the mutal funds ever reopened the fund to the new buyer to collect the supportive capital in the past

gyb192483

glorious41 发表于 2013-8-3 07:47
大清早起来学习的一天！

22-18

Dilution - It's possible to have too much diversification. Because funds have small holdings in so many different companies, high returns from a few investments often don't make much difference on the overall return. Dilution is also the result of a successful fund getting too big. When money pours into funds that have had strong success, the manager often has trouble finding a good investment for all the new money.

这段前面说多样性的不好的地方。就是虽然投资了很多个公司可以降低风险，但其实投资这么多公司的总收益也仅仅是跟投资几家公司的总收益持平，意思说赚的不会更多。然后说这个稀释是成功的基金的壮大的结果。如果这个基金壮大了，它就会有很多钱。再投进来的钱相比于已经有的庞大的基数就显得没那么重要了，而本来已经投资的项目已经有很多资金了，那么新的资金能够选择的投资项目就少了

本人愚见，请参考

AbbyShuai

Speed
0'57 mutual fund is a collection of stocks/bonds...three ways to gain from mutual fund...dividends and interests...revenues from selling stocks when price increases....gain from selling stocks increased
1'35 advantages of mutual funds
1'29 disadvantages of mutual funds
2'06 today's return from mutual fond is more volatile than that in the past
1'41 worst-case scenario for bond as interest rate rises....buying and holding mutual fonds now is not a really bad idea...people should still hold long term bond..core bonds still make sense within a diversified portofolio
obstacle
5'09
some mutual funds have closed their foors to investors who want to put money in....
it is beneficial for existing shareholders
it is difficult for managers to manage too much money in the funds
MS's opinion and JS' s opinion
reopen of mutual funds

52747858zdq

time1: 0'58
definition of mutual fund and how to make profit on it
time2&3: 3'39
the advantages&disadvantages of mutual fund
time4: 3'12
The return on bond has a negative relationship with interest rate. Recently the interest rate climbed up, rendering the bond price lower and more violate.
time5: 3'13
Interest rate will not move up dramatically, so the 2008 crisis will not recur now. People nowadays could still benefit from holding bonds by being flexible and looking at the European market. People should also diversifying their portfolio and buy some short-term bond that is less sensitive to interest change.
obstacle: 6'13
For the first time a large number of mutual funds do not accept money from investors. This is an encouraging trend because it protects the profits of existing shareholders. Beside, this movement also benefits the fund company themselves. Firstly, the unsatisfied demand for bonds increased the bond price. Therefore the fund manager want to remain the current situation. Secondly, the fund manager has their own criteria of evaluating a company. Too much money make it difficult to make investment decision.

glorious41

gyb192483 发表于 2013-8-4 00:05
这段前面说多样性的不好的地方。就是虽然投资了很多个公司可以降低风险，但其实投资这么多公司的总收益 ...

感谢回复。
这段的意思是不是两层？第一层就是 虽然某些项目投资回报高，但是因为投的钱少，所以赚到的钱相对来说也不高，就是你所说的赚的不多。第二层就是和obstacle那里的原理差不多，因为投进来的钱太多，导致基金经理无法做出很好的投资决策。