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When buying**, we often encounter a problem, that is:Will buy but not sell
Not only do I not know when it is appropriate to sell, but I don't even know whether I am making a profit or a loss
You don't believe it?Then take a look at the following ** income chart:
This is a ** held by Xiao Huojun,Position yieldYes 4386%，Holding yieldYes - 3186%, one has a positive yield and one has a negative yield, so did Xiaohuojun make a profit or a loss?
Should Xiao Huojun continue to hold or sell?
As an investor, can you understand these yields?
Do you know how to make decisions?
If you don't understand it, it doesn't matter, this time Xiaohuojun will take you through practical operations to take you in detail.
*The fundamental reason why the return on holdings and the return on holdings are different is that you have carried out** Redemption operations.
Next, we will illustrate with an example.
Suppose you make 1000 yuan and earn 200 yuan, what is your rate of return?
It's 20%. Then you redeem 50% of the total share, which is 600 yuan.
Well, in your **, there are still 600 dollars.
If it is calculated according to the return on the position, it will be considered that what you redeem is the cost, that is, all the income earned is retained.
Then of your remaining 600 yuan, there are 200 yuan of income and 400 yuan of cost.
According to this algorithm, there is a cost of 400 yuan and a return of 200 yuan in your current position, and the yield is equal to 200 divided by 400, which is 50%.
After talking about the holding yield, let's look at the holding yield.
According to the holding yield, it will be considered that when you redeem, you will redeem the income of the corresponding share.
Then of your remaining 600 dollars, 500 yuan is the cost and 100 yuan is the benefit.
Therefore, the yield on the remaining ** you hold is equal to 100 divided by 500, which is 20%.
This yield is also the same as the yield you calculated at the beginning before the redemption.
Do you see it, just this is a different calculation method, we see a difference of 30 points in the rate of return, if you don't understand the principle behind this, it's easy to overestimate your own returns, and finally make the wrong decision on **.
In fact, both the yield on holdings and the yield on holdings can reflect the situation to a certain extent.
The yield of the position can be seen the ** income since we opened the position.
As long as the yield of the position is positive, it means that we have not lost the principal when we bought this **.
However, we should not rely solely on the yield of the position to judge the purchase and sale of **.
Because according to the previous calculation, as long as you continue to redeem operations, if your income remains the same, your cost will become less and less, so that the result we see is that the return on the position is getting bigger and bigger.
In this way, on the surface, we are constantly making money, but in fact, you may not be making a dime, and even the real rate of return is still falling.
Therefore, to see the real return after redemption, we should still pay attention to the holding yield.
If your holding yield has been negative, then it means that the recent ** yield is very unsatisfactory and you have been in a losing situation.
Although you haven't lost your principal yet, you should be cautious.
If the fundamentals change, for example, there is a change in the manager, and there is a change in the manager, we may want to consider selling in time.
After understanding the difference between the above two yields, I have a deeper understanding of the ** I currently hold.
First of all, I found the ** onePerformance chart
It can be seen from the performance chart that the income of ** is constantly declining, although this ** has brought a lot of benefits to Xiaohuojun in history, but the current situation is not optimistic.
At the same time, we can see that there is a key piece of information in the diagram:Change of manager
In August of this year, there was a change in the manager of this one, which is a major change in the fundamentals of the company.
We know that buying ** is buying ** manager's investment ability, and once the manager changes, then our previous *** conditions no longer exist.
This is the signal that prompts us to sell**.
Of course, in order to make a more accurate decision, I found two more key pieces of information.
One is the performance of the current new ** manager, as shown below:
We can see from the ranking and yield data that this current manager has poor performance in both current management and historical management, and is relatively backward in ranking, so it is not a good choice.
The other is the ranking of the ** I bought so far, as shown below:
Combining these two pieces of information, I think the fundamentals of this *** have changed significantly, and the underperformance is likely to persist.
Therefore, I made the decision to liquidate and sell.
That's all for today's sharing.
Would you look at the yield of **?
How would you make the decision to sell?
You are welcome to share in the comment area.
Risk Warning: The market is risky, and investment needs to be cautious. The ** and cases involved in this article are for reference only and do not make any investment recommendations, and investors should make independent decisions at their own risk. ）
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I'm Xiaohuojun, a person who wants to make easy-to-understand and fun financial management content, and I hope to let you improve your financial skills in a fun way.