Large dish more than empty intervals, according to the Tampa Burton（Yale）rule, in a relatively upscale Position, Cash Ratio should be high, achieve and sell high buy low concept, the trading system money management, retail banking, investment must-haves of the important concepts.
What is Tampa, Burton investment law Investing the Templeton Way, the Yale Law Yalemethod
According to the statistical principles of the calculation, the maximum disk based on past volatility, the normal distribution in a normal region, and down about 3 to 5 areas, relatively high-grade, easily collapse the probability is high, the investment portion of the cash ratio, corresponding to high.
In normal fluctuation range, Tampa Burton/Yale-method—60% of the project, the comparison is often used, General situation under, are based on the investment portion of the 60% equity ratio, the shareholding ratio, to reduce code, to be overweight, the practice of buying low and selling high passive program.
Large disc out of the level, there will be 本益比 PE, 殖利 rate, PBR, etc. several different methods, it is best to use the historical back test and see, whether measured relative to the high and low points. This part of the trading rule, which belongs to capital allocation, in the upscale area, regardless of what to invest in, almost all was everyone killed, the only difference in the fall more or less, asset allocation, dispersion to a different industry or a different investment vehicle, just avoid the weight of a region, a very small probability of wrong, or be affected by other factors in the big kill, causing significant losses.
Yale Law/Tampa Burton undefeated investment law, the original book to the effect that
1954 5 on 17 may cause the client key memo
Templeton, Dobbrow & Vance, the company used to calculate the share price of normal levels of economic theory is very simple, only three elements:
1. Laced with the current business of the surplus of the relationship, if with nearly 20 years of habitual in the same state, then it is normal.
2. Laced with the current enterprise asset replacement cost of the relationship, if with nearly 20 years of habitual in the same state, then it is normal.
3. If because of the tax code or the money supply change, High preferred stock prices to dividend ratio is lower than the nearly 20 years of the usual standards, the common stock prices of the companies earnings ratio is lower than the nearly 20 years of the usual level is normal; and Vice versa.
Why invest in, the need to refer to the international index of large-cap, large disc barometer Market barometer for?
International index, they use a weighted average, made of the local state of the market value before a few big companies were selected, such as SSE 50, the CSI 300, the S & P500, representatives of local first few large companies, today's the day the environment is bad, no matter how good the company is also a great probability to fall.
Another kind of argument, the large-cap barometer Market barometer, just like the weather forecast, if there is a storm（crash）symptom, it will reduce out investment.... more
The world is flat, and crowded and messy, the international financial between affect each other, about every three years, an increase of 50%(air) to China, Hong Kong and Taiwan, for example, at night the United States fell, the next day have the potential short-term impact, not just to the local Large-Cap index of the main（70％）, and also to the reference stocks in the range of 30 per cent.
The majority of investors are retail investors, investment banking novice in the majority, unable to professional investors, large corporate, etc., there can be a division, or years of experience to sniff out becomes the disc's taste.
PS: alchemy squares are just General office workers, lucky in investment on the road than the average person pay some
Pay Time with professional, than those of professional investment experts and want to increase the return on investment, or accelerate financial goals reached, seen so many investment professional books, and predicted, in part, by luck, the General office workers can do that are simple rules of financial configuration.
Learn the process of trading, mostly all know a rule of thumb
"Optimization of parameters is not there!"
Petty family, office workers, you can invest the amount with time, mostly limited, alchemy squares on the choice, by some simple rule of thumb, try to find patterns, to reduce losses, increase reward, Shorten the time.
Recommended reading:
The international index of large-cap, it is recommended to use PBR stock net value ratio Price Book Ratio
Large cap indices expensive or cheap? Most people only look at the numbers allowed, a return to fundamentals, to see the overall of the only metrics, but sometimes encounter crash, system risk, resulting in good company short-term profit anxious to kill, experts recommend the PBR act.
PBR stock price net value ratio, also known as the PB ratio, can be used to measure the company's share price by the book value is the net value of several times, can be said to be holding a body fat meter, measuring a person's body composition, how much fat with muscle, only to know whether the person puffiness.
May each international index, historical backtesting, there will be different for large disk barometer indicator, but at the moment the alchemical least squares to find the references are mostly recommended PB/PBR stock net value ratio Price Book Ratio.
Stan Burton Investing the Templeton Way, or Yale Law Yalemethod, the stock market practical applications, is funding the configuration of the reference, the real investment, but also with other trading systems, so it didn't require very precise, you look for the method, could probably measured relative to the level of the area, and enough practical.
Shares of the net value ratio(Price-Book Ratio), PBR/PB ratio is what? The formula?
PBR/PB ratio, most commonly heard in is worth the investment value invest on, in the earnings report, the current time point, the company's share price relative to the per share net value of the ratio, to measure the stock is cheap or expensive?
But be careful, do not simply using the PB ratio, to decide whether to buy a company in the trading system, he can mostly only accounting for 10% of the investment decision-making, but also need to look past the 8Q earnings, analyze the company's operating mode.
However, in the large-cap rain or Shine, just bring planning multi-empty boundary, planning practical chances of a full easy to use, and when company number more than enough, a few understated or level, and more will return to the normal mean, for planning how homeopathic investment, there are certain to help.
PBR/PB ratio formula:
- Shares of the net value ratio(Times) = stock price ÷ per share, the net value of
- The net value = Total Assets – Total Liabilities and intangible assets
Data source section, please try to official information-based.
The time interval of the section, alchemy squares back to test some on this side will be 3. 5Y-based.
Stan Burton Investment Law, Yale Law, the stock market barometer, how to apply the ideal financial investment on
Modern financial investments, are workers essential copy of one of the stock market long and short turns, no one can God quasi-prediction, only passive funds, configuration, chives investors don't want to be the Reaper, only their roots are seedlings red, reduce shipping possible.
On capital allocation, there are different sects, like the full shareholding investments, long and short are made, a passive program funds, alchemy little choice, is a General office worker in the normal heart, rather less earn, but also don't want to lose.
Investment stable profit fundamentals, lose, less to do, win, overweight, and replaced with the probability of the statement, the odds of a region of high bets, the market no one can each successful prediction of high and low points, but can be planned out, and relatively low region, these are the workers going to take place.
Taiwan large cap multi-blank chart, cash equity ratio reference chart
Want to buy low and sell high, not looking at the plate, staring at the disc, the first to find out a useful rule of thumb, the office workers can also be periodic, fixed, find a not of the subject, thought it 0050 do on behalf of, other technical analysis or financial value of the investment, it can also be based on a large tray lot of empty score, the filter conditions are loose or strict.
A957 alchemy waiter, to help you sort out the good, the Taiwan large cap PB ratio+investment staff, the use of lazy graph is approximately monthly, No. 10, manual update, there will be little individuals like the more empty score+chart, to see at a glance, the utility time can have a month, as free to share.
Free membership version of the welfare modelThat 3.5 Y-Taiwan PB ratio+investment live music staff
Music Live investment staff have to distinguish between + with 1 each 1SD AND 2SD AND 3SD, for convenience just put the +1SD AND-1SD on the chart to cancel, reduce information noise
Normal version
The logarithmic version of looking at the relationship, it is easier to read）
Taiwan large cap multi-air PB table
From the PB level of the interval is divided into 10 intervals, the table set is the alchemical little habits, the green represents undervalued, giving him more of a block, the red represents overvalued, fell probability is high, need to be particularly careful, to his relatively strict.
There's also attach the Taiwan Weighted large cap PB staff of the range, to cope with possible soaring the reduced code, or crash overweight area where you're free to use, don't rely on feeling to do it.
Taiwan large cap multi-blank chart, cash equity ratio reference chart
Want to buy low and sell high, not looking at the plate, staring at the disc, the first to find out a useful rule of thumb, the office workers can also be periodic, fixed, find a not of the subject, thought it 0050 do on behalf of, other technical analysis or financial value of the investment, it can also be based on a large tray lot of empty score, the filter conditions are loose or strict.
A957 alchemy waiter, to help you sort out the good, the Taiwan large cap PB ratio+investment staff, the use of lazy graph is approximately monthly, No. 10, manual update, there will be little individuals like the more empty score+chart, to see at a glance, the utility time can have a month, as free to share.
Free membership version of the welfare modelThat 3.5 Y-Taiwan PB ratio+investment live music staff
Music Live investment staff have to distinguish between + with 1 each 1SD AND 2SD AND 3SD, for convenience just put the +1SD AND-1SD on the chart to cancel, reduce information noise
Normal version
The logarithmic version of looking at the relationship, it is easier to read）
Taiwan large cap multi-air PB table
From the PB level of the interval is divided into 10 intervals, the table set is the alchemical little habits, the green represents undervalued, giving him more of a block, the red represents overvalued, fell probability is high, need to be particularly careful, to his relatively strict.
There's also attach the Taiwan Weighted large cap PB staff of the range, to cope with possible soaring the reduced code, or crash overweight area where you're free to use, don't rely on feeling to do it.
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