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- 注册时间:
- 2004-11-7
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使用杠杆, more volitilty. 控制资金的下降不能超过80% anytime? or a few months? or annually? Different time frames make huge difference here. High risk, high reward. Low risk, low reward. No risk, zero reward. Very difficult to maintain 下降不能超过80%. The bid/ask spread could be 5% some even more. So right there you will be down 5% or 10% already for a part of your portifolio. If the market go into a small down trend (5%) and all your positions take another 5% and your 杠杆 take about 10-20% hit. All of sudden you are very close to 15%-20% temporaty drawdown. A bad streak, you will be over 80%. The guy will be out of the game before his portifolio has a chance to get going.
To avoid the above scenario, the person will probably start out by only deploying about 30-50% of the total capital and put the rest into something like treasure bond etc for a small 5-6% return. This way, he can stay in the game a bit longer if the above scenario occurs. But the drawback is that with less than 50% capital used, it will take some time for the whole account to build a nice 10-20% (meaning 20-40% returh for the 50% deployed) cushion before he can finally use the 100%. Therefore, his return for the first year is unlikely to be good because this handicap. |
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