反向投资策略

这一结论表明长期的反向投资策略在我国具有一定的适用性。

The result shows that long-term contrarian investment strategy can create excess earnings for the investors .

行为金融策略中最为典型的是反向投资策略和动量交易策略。

Among the behavioral finance strategies , contrarian investment strategy ( CIS ) and momentum trading strategy ( MTS ) are most usually and profitability .

所以CAPM模型和Fama-French三因子模型无法完全解释动量策略及反向投资策略的利润表现。

Therefore , CAPM model and the Fama-French three-factor model can not fully explain the momentum strategy and reverse the profit performance of investment strategies .

最后，本文选取了反向投资策略、动量投资策略和小盘股投资策略等行为投资策略进行了具体的分析。

Finally , this article gives detail analysis to some behavioral investment strategies such as contrarian investment strategy , momentum investment strategy and small company investment strategy and so on .

最后比较检验结果得出结论并对于中国证券市场是否可以使用价值反向投资策略提出建议。

Finally , the test results are compared to make the conclusion and make some recommendation about whether the strategy of value contrarian investment can be useful in our Chinese stock market .

此外，本文还通过实证分析的方法，对我国股票市场的羊群行为进行了论证，并在第四章对反向投资策略在我国证券市场的应用进行了实证检验，得出了相应的结论。

In addition , the paper also adopted the method Empirical Analysis to demonstrate the herd behavior in Chinese stock market . And in the fourth chapter , the reverse investment strategy in Chinese securities market has been empirical studied , and draw to a corresponding conclusion .

行为投资分析方法从投资者的各种行为偏差出发，采取一系列的积极交易和管理策略，包括成本平均策略、时间分散化策略、反向投资策略、动量交易策略及设立止损点的交易策略等。

Starting with behavioral deviations on the part of investors , analytical method of behavioral investment takes a host of proactive trading and management strategies including cost averaging strategy , time spreading strategy , reverse investment , dynamic trading and setting up " stop " point and etc.