How can retail investors beat institutions?

I went back to a previous article I wrote for 2017 and promised to post it on the web. Now I'm sharing it here in 鄭丁港 some of my own thinking from the last few years in the business.

Years ago I read Lynch's book "Beating Wall Street", which for the first time made me understand that retail investors actually have the existence of some corporate advantages relative to institutions. It was a shock to me. Because at that time it was always possible to think that retail investors had too many disadvantages relative to institutions, while the advantages were almost always absent. Later within a long and important stage, I as a research a retail investor and have institutional services work life experience in investment activities practice teaching exploration learning proces鄭丁港 some questions thinking.

I think most books and articles have a single understanding of the pros and cons of retail investors. There is only one understanding of the strengths and weaknesses of the organization. If based on these single ideas, it is easy to go astray. Scientific training is predicated on scientific thinking. So I

do some deeper thinking. Just as it is possible for a small rice rifle to defeat an airplane or cannon, individuals need to think differently and be trained scientifically to fight as differently as possible.

I. Advantages and disadvantages of retail investors and institutions

(A) Retailers

Knowing ourselves and our opponents in any business competition 鄭丁港. It is called self-knowledge and knowing others. It is important to delineate the strengths and weaknesses of students themselves and other parties. As a retailer possible advantages I mainly divide from the development of strategic and tactical two national levels. Strategic management level.

1. a good knowledge base, network and possible cognitive advantages in a specific industry or small area. Some retail investors may have a good knowledge of their industry and business, or at least a deep understanding of the conditions and resources.

2. There is potential for talent. For example, some people do have a talent for trading, or a grasp of trends. But it takes long practice and samples to prove it.

At the tactical level, the advantages of retail traders are.

1. low time management costs; 2. no communication business costs; 3. little capital operation can be flexible. (These points under human nature have their own may become disadvantages)

(B) institutions

The disadvantages of retail investors are actually the advantages of institutions, mainly including.

1. three-dimensional knowledge coverage of multiple industries. 2. faster and higher quality information. 3. more and better tools and research support. Quite simply, organizations have more talent, faster and better information, closer company relationships, more data and better tools. You see quantitative high-frequency algorithms, a powerful tool for harvesting retail investors.

The disadvantages of the organization are really quite simple. There are three main parts, one part comes from performance reviews. One part comes from organizational structure. One part comes from human flaws.

Performance for assessment, I think we all know very well. The problem is that an organization that everyone often reads has ranking pressure, is more interested in short-term development, and can not tolerate the cost of time management.

Organizational structure, hardly anyone talks about it, but it is important. Organizational structure guides investment decisions through four links: researcher-fund manager-investment committee-fund manager. We all know that as long as there are many links, decisions become complex. Investment decisions may not be 100% in line with the fund manager's ideas. At the extreme, even the fund manager's decision is rejected. This is the first disadvantage.

The second disadvantage is that even if we simplify the process and ignore it, we can't execute it 100% of the time. There is also a big problem with direct observation of researchers, fund managers. Communication costs are high. Most fund managers are actually familiar with only a handful of sectors, and researchers in other sectors have to rely on their own awareness, so to what extent will he trust the researchers? When they are tested by falling stock prices, do they panic and sell off their stocks? Is it too much to bear? These are all very realistic situations. If the researcher's direct decision score is 80, after this process, his direct decision score is likely to be only 60. Not to mention, the company may also suffer from large corporate disease that makes fund managers dance around. Believe it or not, you see one or two examples of this every year.

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眾所周知，信用貸款不需要提供抵押貸款，不需要提供擔保，只需依靠通常的信用信息，就可以額度。 要比抵押貸款業務快得多，但按利率計算，僅此而已

眾所周知，信用貸款在申請時不必提供擔保，不必提供擔保，只需依靠通常的信用信息，就可以獲得信用額度。比起需要抵押品的抵押貸款業務，這樣更容易獲得資金，但以利率計算，這不值得。所以有人問”我需要錢四處走動，但是我沒有抵押品，沒有人為我擔保，我怎樣才能得到低利率的貸款? ”幫助人們享受更低的無擔保利率。

1，貸款挑選最適合的產品，我們可能會覺得這種方式，商業銀行喜歡借錢給富人，門檻很高。但事實上，商業銀行貸款對許多產品的門檻並不苛刻，有關的適當條件的選舉中，利率和信貸也不會太糟糕。他們的年齡是無法避免的，但我們要注意的債權債務。記錄在信用是我們的信用，不言自明的重要基礎。財富也證明得到放心，銀行會給大量極其重要的，銀行將一定要讓安心財富的出現。銀行貸款，把這個事實，我們借錢，與其他人一樣，也有如果他能來考慮，他的功勞也會。如果對面沒有信用，沒有保證還錢，但估計沒人願意借給他。

2、切記：莫要忽視公積金的有力促進作用 對於公積金，它的作用研究並不進行簡單，很多人的理解還停留在只是一個用來買房的階段，其實在暫時沒有通過申請房貸市場需求的情況下，用它來作為一種財產證明，可以充分發揮自己十分重要有力的作用。 對比發現那些同樣是沒擔保、沒抵押，完全是憑信用和流水這些來評判額度的貸款者來說，具有公積金的貸款人，會有影響很大的優勢。在收入基本相同或相似的情況下，有公積金的人額度通常會總會更高，然後根據利率也會低上特別多。

了解商業貸款利率，助你快速獲得資金，盡佔先機。

3，具有完整的信息化應用進行，雖然不少地方申辦信用卡，通常需要證據來提供收入和身份，但如果申請人能夠提供盡可能多的信息，雖然不一定保證貸款成功，但它可以是特別好證明借款人的還款能力，這樣不僅可以使審批更容易得，也讓加息更好的量。

首付實現多點還是月供多點?

選公積金貸款還是商業貸款好?

想要貸款利息怎么才劃算?

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我國證券投資者在委托買賣證券時應繳納各種手續費和稅費，按代收機構可分為經紀手續費、交易場所手續費和國稅。在此之前，投資者交易在中國滬深交易所上市的A股、基金和債券時，需支付的主要費用有：傭金、印花稅、過戶費、其他費用等。

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您可以享受上交所送來的股票對賬：對於辦理過指定交易的賬戶，在交易所不定期發送對賬數據的下一個交易日，可以在指定券商查到滬股餘額。上交所不發送非指定交易賬戶股票餘額，只能向證券登記公司申請查詢。防止他人出錯：已處理指定交易的賬戶不能被其他投資者錯誤指定。不辦理指定交易的賬戶可能會因其他原因鎖定股票，導致正常交易。

已開立滬市股票賬戶的投資者可使用交易系統委托經紀人，方式有：買賣方向為"買入”，代號為"799999”，價格為"1”，數量為"1”，下一交易日拿到交割確認書，指定交易次日生效。

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