2024年5月1日 星期三

Reddit 債券討論區

最近很喜歡上Reddit論壇內的”r/bond”,可多聽聽外國網民的投資分享。而下面這個帖子,又真是饒有趣味:

https://www.reddit.com/r/bonds/s/6vcoXZpbtC

可能由於美國市民需繳交withholding tax(不論股票、債券etc)的關係,所以上面樓主認為債券的作用不大,以致於上市以來跌逾二成的”VWOB”,反而比corporate bonds更吸引。

我覺得帖子下面的回覆有些非常不錯,反映了投資者對產品理解的深度。首先,T-bills與corp bonds的息率及風險均有不同。而且,既然分散股票可減低投資者的風險,那麼分散不同板塊、息率與年期的債券,為何就會變成冇用的”toilet paper”呢?

債券可受到通脹的影響,難度股票(尤其「增長股」)就不會嗎?

FED改口風說今年底才有機會減息,所以對收息一族來說,仍是繼續roll定期和構建bond laddering的好時機。然而,隨著portfolio內的債券比例愈來愈多(甚至過重),在re-allocation及re-investment上,我也需要再作調整了。

雖然將來是不能準確預測,但審時度勢來調整個人做法,仍然是ongoing及necessary的。除了預計未來市場的變化外,我們更需推測屆時民眾的想法與做法改變。

4 則留言:

  1. Talking about “re-allocation”, “re-investment”, and portfolio, it seems you have not disclosed your portfolio for ages. I’m sure many of your followers would be very interested to learn something from your portfolio. Besides, you used to analyse/recommend an investment instrument from time to time but have also stopped doing so for quite some time. What are the reasons for this, I wonder?

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    1. Thanks for your comment! I juggle work with a part-time master, so now my family member helps to oversee my portfolio.

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  2. 起碼仲有今年玩
    但我估出年應該減息大過預期

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    1. (from cherry)Yes不過入ig bonds最好的時機始終是上年秋季,近月我將部份持貨止賺轉倉了~

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