重仓

我国基金重仓股选股偏好的时期似无关回归分析关于Logistic回归中最大似然估计的可估性

Analysis of Chinese Fund Preferences for Heavyweight Stocks Using Period Seemingly Unrelated Regression ; ESTIMATION OF MAXIMUM LIKELIHOOD IN LOGISTIC REGRESSION MODEL

伯克希尔公司还受到两大重仓股大幅下跌的打击：美国运通（AmericanExpress）今年下跌25%，而IBM今年下跌13%。

Berkshire has also been hit by big declines in two of its largest stock market investments : American Express , down 25 per cent this year , and IBM , down 13 per cent .

重仓股具有较强的可预测性，Logit模型的预测结果总正确率达到92.9%，通过预测的股票组合可以获得显著正的CAR。

Funds holding stocks can be well forecasted . The overall correct percentage in our forecasting model-Logit Model is 92.9 % . By holding the forecasted portfolio investors can earn a positive CAR adjusted by the market return .

文章依据行为金融的理论和研究方法，通过改进的GTM模型，以基金重仓持有的股票相对于上证综合指数的超常收益率来构造赢家组合和输家组合。

Applying the behavioral finance theories and a modified GTM model , this paper forms winner and loser portfolios based on the excess returns of heavily held shares over the Shanghai Stock Exchange Composite Index .

在这部分中，笔者通过搜集整理各会计期间QFII投资上市公司的名单、份额及重仓股的变动来分析QFII投资内地上市公司的产业（行业）、地区、金融产品结构。

Through collecting the imformation about listed companies that QFIIs have invested in different accounting periods , this part analyzes the ground industry , trade , district , financial product structure of listed company that QFIIs have made their investment in inland security market .

全国社保基金组合重仓股的资产配置特征分析共持重仓股变脸对基金家族的连锁效应研究

The Research of the Asset Allocation of the Stock Fund of Social Guarantee Fund

关于中国股票市场上基金重仓股的博弈分析

A Game Analysis of Stocks Heavily Held by Security Funds in China 's Stock Markets

前期股票价格波动性对基金重仓持股比重具有显著影响，基金偏好持有前期价格波动性小的股票；证券投资基金能够稳定股票市场是不成立的。

The hypothesis that funds can stabilize the stock price volatility does not hold water .

这支20亿美元的基金目前下跌了3%，主要是因为重仓股票。

The $ 2 billion fund is down 3 % , mostly because of large equity positions .

基金重仓股的命运

The Awkwardness of Fund

由于第一个例子中数学期望的范围差异度很大，这就减少了重仓集中在这个股票的意愿。

The wider range of expectation in the first case reduces the desirability of heavy concentration in it .

本文主要是对开放式基金重仓股的行为投资策略分析。

This paper centers on the behavioral investment strategy of the top ten weight stock held by open-ended fund .

大多数全球型股票基金都重仓持有估值最高的股票和股市。

Most ' global ' stock funds are heavily weighted toward stocks , and markets , with the highest values .

在剔除部分流动性风险较大的基金重仓股之后，基金资产组合流动性风险基本与其投资风格相符。

After deleting some securities which have bigger liquidity risk , the funds ' liquidity risk match their investing style mostly .

第二个问题研究了明星基金每个季度公布的十大重仓股这一信息是否对股票二级市场投资者产生了影响。

The second problem is whether the top ten Awkwardness of star fund announced quarterly has an impact on the secondary market investors .

但是短期来看，基金风格漂移会引起基金重仓股的波动，这种冲击影响持续时间较短，基本上四个交易日以后冲击影响就消失了。

But in the short term , fund style drift will cause fluctuations of heavy hold stocks . But the impulse effect is short .

对康姆斯的投资业绩拖累最大的，是芝加哥桥梁钢铁公司，这也是他在2014年伊始最重仓持有的个股。

The biggest drag on Combs ' performance was Chicago Bridge Iron CBI - 1.85 % , which was his biggest holding coming into 2014 .

基金重仓股基本无所作为，无论是行情特点还是交易数据都显示，游资是此轮行情的主角。

Fund Chong Canggu nothing fundamental , both characteristics of the market or trading data show that hot money is the main character of this round of price .

证券投资基金在我国股票市场中的地位越来越重要，基金重仓的股票越来越受到投资者的关注。

Security funds are playing more and more important role in China 's stock markets , and investors pay more attention to the stocks heavily held by security funds .

于是证券市场上出现了一种普遍现象，那就是大量个人投资者跟进明星基金的重仓股来进行投资。

As a result , there is a common phenomenon in our stock market : a large number of individual investors follow the star funds by investing the heavy storehouse burst .

研究结果表明，中国证券投资基金所持有的重仓股具有显著的惯性效应，并且个股特征惯性效应相对于基于同业投资绩效及历史收益率的相对惯性效应，更为显著而持久。

The research findings show that the stocks heavily held by security investment funds have exhibited significant momentum effect and that the idiosyncratic momentum effects are more significant and last longer than relative momentum return .

通过按照一定标准选择部分基金重仓股建立组合，并根据该组合的一些羊群效应行为指标对于我国股票市场周期性变化进行了实证研究。

This article selects some stocks in accordance with certain standards to build one group and makes one study of the cyclical change of the whole stock market based on some indexes of this group .

爱多士所言来自她的亲身经历：在1998年夏天，她飞往路易斯安那州去通知她最初的客户之一，他的一个重仓股可能会破产。

MS erdoes is speaking from experience : in the summer of 1998 she flew to Louisiana to tell one of her first clients that one of his major holdings was about to go bankrupt .

接着采用了已经发展相对比较成熟的事件研究法对明星基金每个季度季报公布的十大重仓股是否对股票二级市场的投资者产生影响进行分析。

( ii ) Next , using event study methodology to analysis if ten Awkwardness of star fund reported quarterly have impact to investors of secondary stock markets and from abnormal returns and abnormal turnover respectively .

罗杰斯表示，他重仓持有中国公司股票，而且从未卖出过一股，但如果中国股市继续上涨，他将不得不考虑卖出。

Mr Rogers says he is heavily invested in China and has never sold a single Chinese share in his life but , if the market continues to climb , he will have to consider selling out .

本文通过对基金获取大量无风险收益，持有股票换手率过高，以及基金重仓股持仓变化与股价变化之间的关系的研究得出基金操作不规范的结论。

This text research into the fund 's risk-free income and high turnover rate and the relation of fund 's position with the stock 's price . This text make a conclusion that The fund exists not standardize operation .

为此，就市场价格发现机制的反应而言，证券基金收集和解释财务信息的能力明显强于非专业投资者，使得其重仓股价格的财务信息内涵更丰富。

As for the reflection of the MPSM , SIF reveals obviously a strong information collection and explanatory capability than that of the non-professional investor , and makes the price of stock invested heavily by SIF assimilate more financial information .

布莱瑟尔相信，其基金持有的这只重仓股未来五年将继续以每年15%左右的速度增加收入，利润增速将更快。

He thinks the company , a top holding of his fund , can continue to increase revenue about 15 % or so a year , and expand profits at an even faster rate , for the next five years .

进一步本文利用我国证券投资基金持有的重仓股季度数据，首先对我国证券投资基金投资行为进行了成熟性检验，然后实证分析了影响我国证券投资基金投资行为的因素。

Further this paper , securities investment funds in China held Awkwardness quarterly data , the first in China Securities Investment Fund Investment behavior of a mature test , and empirical analysis of investment behavior in China Securities Investment Fund of factors .

运用事项研究法，以2000~2002年中国证券投资基金的重仓股为对象，探讨了信息能力对股票价格发现机制的影响。

Focusing on the stocks invested heavily by Security Investment Funds ( SIF ), the paper explores the influences of SIF 's information capability on the stock market price seeking mechanism ( MPSM ) during the earning announcement by the means of the event study .