20190521【充实计划】第1075期

昨日阅读5小时，累计阅读225小时,
学习心得：
可转债投资：
1、可转债向下有保底，向上有弹性，具备涨跌幅非对称属性，算是低风险投资者的投资利器！
2、可转债可以T+0进行日内交易
3、可转债大忌是高价高溢价率，基本变成了加强版炒股票
4、正股跌停的时候，转债跌幅可能超过10%
5、转债低风险投资模式：低价摊大饼，就是每次都买到期收益率最高的转债或者价格最低的转债
6、转债中风险投资模式：买低溢价率转债，当成正股的替代品
7、长期看，大部分转债都会让你赚30%——大部分转债的命运是被强赎，也就意味着最终价格会超过130元。——说句白话，就是指望股票价格带着转债价格来一波30%涨幅并挺住二十天到一个月，再烂的股票都可能被炒一波！
8、转债的拧巴之处：股票投资讲究的是找好公司，但是转债可能更希望公司节操无下限，股价跌的多就想着下调转股价，像江南水务等硬汉子反倒让转债投资者少赚了钱！
9、好坏股票之间与好坏转债之间的是有差异的。好股票讲究的是多涨少跌，慢牛型算是好股票。好转债讲究的是不管啥原因来一波，看的是股票波动率。好股票通常溢价率比较高，从急涨等强赎机会的角度看，好股票不一定是好转债！
10、转债是否能赚到钱有时候是天注定，天时在于发行时点是否是股价来一波之前的关键点。如果一个转债发行在股价高点或者下跌的半山腰，想赚到转债钱要么等股价完全爬出坑再涨30%，要么就等着公司无节操去下调转股价！东方雨虹这一波涨了快一倍都没让转债投资者看到赚钱机会，就是因为转债发行在了17年9月，算是股价上一轮高点，跌了60%再涨一倍也只是挖坑填坑的过程。
11、转股套利：高折价率反到不一定吃到肉，3%以上的负溢价率可能会吸引套利资金太多，导致第二天直接低开3%，这就是可能所谓的反身性原理！

充实每一天 发表于 2019-5-21 05:26
为什么|学习笔记|好

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1.今天你阅读到的有价值的全文内容链接
推荐： 《Portfolio Management-Theory and Practice》
March 2019
by Scott D. Stewart (Author), Christopher D. Piros (Author), Jeffrey C. Heisler (Author)
This invaluable resource presents effective portfolio management practices supported by their underlying theory, providing the tools and instruction required to meet investor objectives and deliver superior performance. Highlighting a practitioner’s view of portfolio management, this guide offers real-world perspective on investment processes, portfolio decision making, and the business of managing money for real clients. Real world examples and detailed test cases—supported by sophisticated Excel templates and true client situations—illustrate real investment scenarios and provide insight into the factors separating success from failure. The book is an ideal textbook for courses in advanced investments, portfolio management or applied capital markets finance. It is also a useful tool for practitioners who seek hands-on learning of advanced portfolio techniques.
Managing other people’s money is a challenging and ever-evolving business.
Investment professionals must keep pace with the current market environment to effectively manage their client’s assets while students require a foundation built on the most relevant, up-to-date information and techniques. This invaluable resource allows readers to:
Learn and apply advanced multi-period portfolio methods to all major asset classes.
Design, test, and implement investment processes.
Win and keep client mandates.
Grasp the theoretical foundations of major investment tools
Proliferation of mathematics in economics, growing sophistication of investors, and rising competition in the industry requires advanced training of investment professionals.
Portfolio Management provides expert guidance to this increasingly complex field, covering the important advancements in theory and intricacies of practice.
https://bbs.pinggu.org/thread-7118912-1-1.html

单词挑战第5月第28天
Proliferation   n. 增殖，扩散；分芽繁殖
Conceptual proliferation 戏论
Lymphocyte proliferation 淋巴细胞增殖 ; 淋巴细胞转化
cells proliferation 增殖 ; 细胞增殖
brand proliferation 品牌扩散 ; 品牌繁殖 ; 商标或厂牌管理
LEGAL PROLIFERATION 法律的扩散
Capillary proliferation 毛细血管增生
data proliferation 资料增长
neoplastic proliferation 瘤性增生 ; 肿瘤性增生
polyembryonic proliferation 多胚繁殖
Elemental Proliferation 元素扩散
cell proliferation 细胞增殖，细胞增生
nuclear proliferation 核扩散
proliferation security initiative 防扩散安全倡议
Objective: To explore the effect of far infrared on hematopoietic cell proliferation and differentiation.

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5.Cloud Zhuang45minutes  - O

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