投资期限

首先，投资者必须制定更长的投资期限。

First , investors have to develop a longer time horizon .

投资期限的长度对投资组合选择的影响

INVESTMENT The Impact of Investment Horizon on the Optimal Portfolio Selection

这些基金经理们仍然对投资期限超过1天的债券感到不安。

The managers remain uncomfortable investing in debt that matures in more than a day .

当投资者持有资产的期限延长，长期的基础性信息将逐渐占据引导投资者行为的主导地位。因此，同类信息对不同投资期限的投资者行为的影响度存在显着差异。

So , the same information has great different impaction on the behavior of different period investor .

大多数著名私人股本公司的投资期限都不是很短。

Most of the reputable private equity firms are not in it for the very short term .

虽然不同投资期限的投资者具有相同的短视配置，但是战略配置随着投资期限的增大而增大。

Although investors with different horizon have the same myopic allocation , strategic allocation increases as horizon increase .

一般来说，在投资期限里，回报是固定利率加上投入的本金。

The returns will generally be a fixed interest rate during the term of the investment plus the principal invested .

债券收益率，票面利率的基础上，付出的代价和投资期限长度。

Bond yields are based on the coupon rate , the price paid and the maturity length of the investment .

这份文件概述了“在一个长期投资期限内，最好地协调利益并确保在一种共同受益关系的最低标准”。

It outlines " a minimum standard to best align interests and ensure a mutually beneficial relationship over a long-term investment horizon " .

由于养老基金投资期限都非常长，所以本文计算时将政府债券视为风险资产。

Secondly , because of the long investment horizon of the funded pension plans , government debt is regarded as risky assets here .

基础设施建设项投资期限长，投资安全，收益稳定，刚好符合保险资金对资金运用安全性、收益性的需要。

The investment to infrastructure construction is a long time , security one , which suits to the characteristic of the insurance investment .

本文运用经验分析方法，发现延长投资期限是降低养老金基金投资风险的有效方法。

By empirical analysis , this paper finds that the extension to investment periods is an effective way to reduce investment risk of pension funds .

不同的市场和不同时期的选择是自然的，但不同期限数据的选择意味着不同的投资期限。

But why dose choice different horizon data ? In this paper , we analyse the impact of investment horizon on the optimal portfolio selection .

延长投资期限不一定能够增加投资的收益，而相对于市场的收益损失却增加了；

Extending the investment horizon of OBPI strategy might not increase the investment profit , but the increase of loss was related to the market profit .

在此基础上，还以不同抽样间隔的上证综合指数收益序列对风险度量的投资期限效应进行了考察。

On basis of this , also studied the investment horizon effect or risk measurement with different sampling interval of index retun series of Shanghai stock market .

它们由于采取了共同基金的结构，因此规避了利率限制，让投资者在相当低的风险之下享受到更高的回报率，这是因为它们给人的印象是只投资期限短、质量高的资产。

The mutual fund structure evaded these limits and offered investors higher returns at fairly low risk since funds were supposed only to invest in short-maturity and high-quality assets .

营销方案的设计也主要是对客户进行细分，通过对客户的基本属性如投资期限、风险性偏好等进行聚类分析。

The designing of marketing systems also mainly concentrates on the customer segmentation , clustering analysis through the basic attributes of customers such as the investment horizon , risk preference .

在这种方案中客户的投资期限、风险性偏好等属性往往通过测试获得，存在很大的不准确性和失真。

However , the information about customers , including the investment period , risk preference and other attributes are mainly gained through the test , which results in great inaccuracy and distortion .

如果说黄金真的是一种有效的通胀保值工具的话，这倒有可能最适用于投资期限非常长的机构，像中央银行或者大学捐赠基金，还有被伤害的发妻们。

If gold really is effective as an inflation protection , that may apply most to institutions with very long memories indeed & like central banks , university endowments , and wronged first wives .

在此基础上，采用中国市场的数据对投资期限效应进行了研究，结果表明：不同抽样间隔的收益序列具有不同的相关性和风险收益特征；

On basis of this , studied the investment horizon effect with China Stock Market ( Data . ) The result indicated that there are different correlation and return / risk characteristic with different sampling interval .

此外，负责监控和解读市场趋势是电脑，它们不会理会各种市场理论，只关注市场走势如何，并根据短线、中线和长线等投资期限，做出投资决定。

Computers monitor and interpret market trends . They ignore theories , only concerned with how markets are moving . And they make investment decisions based on short , medium , and longer term time horizons .

最近，一些更为老练的主权基金看得更远了。特别值得一提的是，它们充分利用其较长的投资期限，将资金投入了私人股本和房地产等非流动性资产领域。

Recently , some of the more established funds have looked further afield , particularly to take advantage of their long investment horizon , by putting money into illiquid assets such as private equity and real estate .

然而，就中期而言比如说未来几个季度，这是一个合理的投资期限我们有理由预计美国国债市场将持稳，收益率甚至可能出人意料的走低。

However over the medium term - say the next several quarters , a reasonable investment horizon - there are reasons to expect the Treasury market to hold its own , and perhaps even surprise with lower yields .

虽然现金存款能带来利息，但是它的投资期限较短，投资者面对的风险是，如果存款到期时的利率比较低，得把资金再作投资。

Although cash deposits may earn interest , however , due to their shorter tenors , or time-frames , an investor may face the risk of rolling over , or reinvesting his money , at lower interest rates when the deposit matures .

此外，此类产品有很多是以短期资金为融资来源，因此容易受到期限错配的冲击（此类产品的投资期限通常只有几个月，而它们所资助的项目往往是长期的）。

In addition , many of these products are funded with short-term capital , making them vulnerable to a maturity mismatch , since these products generally have a life of only a few months while the projects they finance are often long term .

结果显示中国的居民储蓄率与理论值差距不大，并且财富积累规模、投资期限结构、收入特征等模型的结构性因素为解决高储蓄问题提供了一些线索。

The difference between optimal saving rate and realized saving rate is fairly small . Furthermore , the structural factors in the theoretical model , such as wealth level , structure of investment horizon and characteristics of labor income , have implications on solving high household savings in China .

如果你的投资期限放长到十年几十年，而不是几个月或几年，那么，现在可能是极好的买入机会.然而就短期而言，现在选择买入，结果可能很糟糕，同时还面临更大的投资风险.

If that is your time frame - decades , rather than months or years - this will probably turn out to be a perfectly good buying opportunity . In the shorter term , though , it 's a much tougher call , and it involves a lot more risk .

但是这也可能引发传染性，特别是因为银行的投资组合期限也变长了。

but it could also spark contagion , particularly since banks , too , have increased their duration profiles .

基于投资不同期限的短期项目或者债券的所谓的“梯子”原理能有效规避利率变化风险。

Building a so-called ladder by buying CDs or bonds across various maturities can provide a hedge against interest-rate changes .

文章研究了价值投资持股期限问题，并得出结论：对价值型股票，投资者不应长期持股；

The article discusses investment horizon of value investment and comes to the conclusion that investors should not hold value-oriented stocks in the long run ;