financial and investment strategy for chinas stock market behavior analysis（金融和投资策略对中国股票市场行为分析）.docVIP

Financial and investment strategy for China’s stock market behavior analysis To write papers website: [Abstract] China’s stock market to individual investors, the mentality and behavior are not mature, the purpose of impurity, there is a certain degree of overconfidence, inadequate response and overreaction is more serious, there is a serious noise trading and herding, policies rely on serious psychological, emotional cycle faster. to establish the investment strategy in the traditional standard financial theory, and caused huge losses to investors: a decentralized strategy of modern portfolio theory can reduce the risk of non-system , but can not reduce systematic risk; Moreover, China’s stock market non-systematic risk characteristics, investment diversification strategies often result in huge loss of .2 investors when the bull market does not make a bear market pricing through the use of systemic risk CAPM Application Strategy in China empirical invalid behavioral finance investment strategy is the revolution of the traditional standard finance investment strategy, including anti-value strategy, anti-technology strategy, anti-behavioral control strategies can be roughly broken down into 8 specific strategies which, contrarian investment strategy, small The shares of the investment strategy and momentum trading strategy suited to the characteristics of China’s investors. Behavior of the [paper Keywords vision, behavioral finance, cognitive biases China’s stock market to individual investors, the mentality and behavior is not mature, the purpose of impurity, there is a certain degree of overconfidence, often inadequate response and overreaction, there is a serious noise trading and herding policy psychological dependence is common, rapid changes in the emotional cycle. Therefore, the establishment of the investment strategy in the traditional standard financial theory, often fail to give investors a real return on investment diversified investment strate