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价值投资篇 大师投资系列> 价值投资篇
投资大师投资策略
本杰明格雷厄姆经典价值投资法 价值
年度收益:1.44% | 平均年化收益:8.33% | Alpha:7.94%
本杰明格雷厄姆成长股内在价值投资法 价值
年度收益:3.85% | 平均年化收益:12.03% | Alpha:10.62%
本杰明格雷厄姆企业主投资法 价值
年度收益:-0.02% | 平均年化收益:3.68% | Alpha:2.45%
詹姆斯奥肖内西价值投资法 价值
年度收益:1.20% | 平均年化收益:5.13% | Alpha:4.11%
查尔斯布兰德斯价值投资法 价值
年度收益:-9.47% | 平均年化收益:13.50% | Alpha:11.82%
彼得林奇基层调查选股法 价值
年度收益:-10.81% | 平均年化收益:-1.10% | Alpha:-4.12%
史蒂夫路佛价值选股法 价值
年度收益:4.00% | 平均年化收益:8.58% | Alpha:9.32%
迈克尔普莱斯低估价值选股法 价值
年度收益:-12.98% | 平均年化收益:8.33% | Alpha:10.03%
阿梅特欧卡莫斯价值型集中投资法 价值
年度收益:-10.58% | 平均年化收益:6.54% | Alpha:4.63%
罗伯特山朋价值型投资法 价值
年度收益:-11.81% | 平均年化收益:8.83% | Alpha:8.61%
柏顿墨基尔成功选股法 价值
年度收益:-4.61% | 平均年化收益:-1.38% | Alpha:-1.58%
罗伯瑞克超额现金流选股法则 价值
年度收益:-3.86% | 平均年化收益:9.54% | Alpha:8.11%
麦克劳尔集中价值选股法则 价值
年度收益:-19.21% | 平均年化收益:14.92% | Alpha:15.58%
惠特尼乔治小型价值股投资法 价值
年度收益:-5.58% | 平均年化收益:13.92% | Alpha:12.58%
理查马文价值导向选股法则 价值
年度收益:13.52% | 平均年化收益:9.39% | Alpha:10.47%
戴维波伦价值型系统评价投资法 价值
年度收益:-3.06% | 平均年化收益:6.93% | Alpha:6.55%
麦克贝利222选股法则 价值
年度收益:0.45% | 平均年化收益:6.69% | Alpha:8.51%
迈克尔喜伟收益型投资法 价值
年度收益:-33.02% | 平均年化收益:7.85% | Alpha:5.95%
乔尔格林布拉特的神奇公式 价值
年度收益:-5.89% | 平均年化收益:1.84% | Alpha:-0.11%
历史回测业绩: 麦克贝利222选股法则
麦克•贝利 2-2-2 选股法则策略说明
麦克•贝利 2-2-2 选股法则, 是其长期价值投资实践中总结出来的经验法则。正所谓重剑无锋,大巧不工,仅仅三条简单的选股法则,却能带来不俗的收益回报。
- 股票预期市盈率低于市场平均预期市盈率的“2”分之一(股票需要具备较低的估值);
- 公司预期盈利成长率大于市场平均预估盈利成长率的“2”分之一(公司的未来具备较高的盈利成长能力);
- 股票的市净率小于“2"(青睐重资产行业);
可以发现此法则的一大特点就是运用了预期数据,即预期市盈率以及预期应力成长率,符合该两条法则的股票都具有相同的特点,也就是说公司的未来不仅要有较高的盈利水平,也要保持较高的盈利成长能力;第三条法则又偏好于重资产行业,如建筑,汽车,房地产,化工等,可见该法则的投资逻辑十分清晰,即选取那些盈利能力强的重资产行业股票。这类股票均属于成熟行业,市值较大,在之前的A股市场中容易被低估,但从2017年开始,A股市场风格发生转换,这一投资逻辑得到了验证,取得了高达17%的超额收益,我们相信该投资策略在愈发成熟的A股市场中会取得更好的成绩。
不过这一策略也存在回撤较大的缺点。我们可以发现,当市场即将见顶时,整体估值偏高,根据该选股法则的选出的股票寥寥无几,则当普跌行情来临时,无法有效地分散风险,控制回撤。
年化收益率
表示投资期限为一年的预期收益率
基准年化收益率
表示参考标准年化收益率
阿尔法(Alpha)
获得与市场波动无关的回报,度量投资技艺
贝塔
反映了策略对大盘变化的敏感性
夏普比率
表示每承受一单位总风险,会产生多少的超额报酬
收益波动率
用来测量资产的风险性,越大代表策略风险越高
信息比率
衡量单位超额风险带来的超额收益
最大回撤
描述策略可能出现的最糟糕的情况
编号 | 股票名称 | 股票代码 | 入选时间 | 持仓权重 | 入选后收益 |
---|---|---|---|---|---|
1 | 兖州煤业 | 600188.SH | 2021/5/6 | 1.21% | 245.63% |
2 | 华阳股份 | 600348.SH | 2021/5/6 | 1.14% | 184.86% |
3 | 潞安环能 | 601699.SH | 2021/5/6 | 1.58% | 181.63% |
4 | 山煤国际 | 600546.SH | 2021/5/6 | 1.53% | 179.83% |
5 | 广汇能源 | 600256.SH | 2021/5/6 | 1.61% | 177.45% |
6 | 大金重工 | 002487.SZ | 2021/5/6 | 1.72% | 154.99% |
7 | 兰花科创 | 600123.SH | 2021/5/6 | 1.04% | 144.43% |
8 | 华电国际 | 600027.SH | 2021/5/6 | 1.36% | 136.79% |
9 | 平煤股份 | 601666.SH | 2021/5/6 | 1.33% | 133.93% |
10 | 晋控煤业 | 601001.SH | 2021/5/6 | 1.48% | 132.93% |
11 | 华能国际 | 600011.SH | 2021/5/6 | 1.51% | 131.49% |
12 | 天地科技 | 600582.SH | 2021/5/6 | 1.39% | 126.84% |
13 | 皖通高速 | 600012.SH | 2021/5/6 | 1.29% | 122.12% |
14 | 山西焦煤 | 000983.SZ | 2021/5/6 | 1.27% | 121.42% |
15 | 内蒙华电 | 600863.SH | 2021/5/6 | 1.30% | 115.58% |
16 | 飞龙股份 | 002536.SZ | 2021/5/6 | 1.35% | 109.14% |
17 | 露天煤业 | 002128.SZ | 2021/5/6 | 1.27% | 104.66% |
18 | 炬华科技 | 300360.SZ | 2021/5/6 | 1.31% | 101.94% |
19 | 中国石化 | 600028.SH | 2021/5/6 | 1.04% | 89.12% |
20 | 苏交科 | 300284.SZ | 2021/5/6 | 1.18% | 86.08% |
21 | 淮北矿业 | 600985.SH | 2021/5/6 | 1.03% | 80.42% |
22 | 中煤能源 | 601898.SH | 2021/5/6 | 1.10% | 77.33% |
23 | 四川路桥 | 600039.SH | 2021/5/6 | 0.74% | 75.58% |
24 | 爱施德 | 002416.SZ | 2021/5/6 | 1.00% | 74.78% |
25 | 洪城环境 | 600461.SH | 2021/5/6 | 0.97% | 70.58% |
26 | 龙净环保 | 600388.SH | 2021/5/6 | 1.10% | 70.24% |
27 | 粤高速A | 000429.SZ | 2021/5/6 | 0.96% | 67.91% |
28 | 航民股份 | 600987.SH | 2021/5/6 | 1.00% | 67.60% |
29 | 招商公路 | 001965.SZ | 2021/5/6 | 1.00% | 66.02% |
30 | 广汇物流 | 600603.SH | 2021/5/6 | 1.04% | 64.50% |
31 | 上海能源 | 600508.SH | 2021/5/6 | 1.02% | 63.20% |
32 | 凤凰传媒 | 601928.SH | 2021/5/6 | 0.93% | 62.55% |
33 | 山东高速 | 600350.SH | 2021/5/6 | 0.89% | 61.26% |
34 | 滨江集团 | 002244.SZ | 2021/5/6 | 0.99% | 60.43% |
35 | 中材国际 | 600970.SH | 2021/5/6 | 1.01% | 59.11% |
36 | 常宝股份 | 002478.SZ | 2021/5/6 | 1.00% | 57.19% |
37 | 中衡设计 | 603017.SH | 2021/5/6 | 0.94% | 54.24% |
38 | 南钢股份 | 600282.SH | 2021/5/6 | 0.86% | 54.09% |
39 | 中交地产 | 000736.SZ | 2021/5/6 | 0.99% | 48.04% |
40 | 中国交建 | 601800.SH | 2021/5/6 | 0.93% | 46.73% |
41 | 安徽建工 | 600502.SH | 2021/5/6 | 0.84% | 40.26% |
42 | 华光环能 | 600475.SH | 2021/5/6 | 0.49% | 34.90% |
43 | 大秦铁路 | 601006.SH | 2021/5/6 | 0.73% | 34.77% |
44 | 开滦股份 | 600997.SH | 2021/5/6 | 0.78% | 34.44% |
45 | 福能股份 | 600483.SH | 2021/5/6 | 0.63% | 31.15% |
46 | 江苏银行 | 600919.SH | 2021/5/6 | 0.74% | 27.46% |
47 | 厦门象屿 | 600057.SH | 2021/5/6 | 0.72% | 27.29% |
48 | 城发环境 | 000885.SZ | 2021/5/6 | 0.84% | 27.26% |
49 | 长高集团 | 002452.SZ | 2021/5/6 | 0.84% | 26.49% |
50 | 协鑫能科 | 002015.SZ | 2021/5/6 | 0.82% | 26.46% |
51 | 中天科技 | 600522.SH | 2021/5/6 | 0.83% | 26.38% |
52 | 黑猫股份 | 002068.SZ | 2021/5/6 | 0.83% | 26.27% |
53 | 中盐化工 | 600328.SH | 2021/5/6 | 0.60% | 23.89% |
54 | 华设集团 | 603018.SH | 2021/5/6 | 0.64% | 22.93% |
55 | 中国化学 | 601117.SH | 2021/5/6 | 0.75% | 18.60% |
56 | 山东海化 | 000822.SZ | 2021/5/6 | 0.77% | 14.49% |
57 | 华建集团 | 600629.SH | 2021/5/6 | 0.52% | 12.98% |
58 | 物产中大 | 600704.SH | 2021/5/6 | 0.68% | 9.48% |
59 | 皖维高新 | 600063.SH | 2021/5/6 | 0.69% | 8.10% |
60 | 大商股份 | 600694.SH | 2021/5/6 | 0.62% | 7.80% |
61 | 新安股份 | 600596.SH | 2021/5/6 | 0.47% | 7.46% |
62 | 日照港 | 600017.SH | 2021/5/6 | 0.70% | 6.88% |
63 | 鲁泰A | 000726.SZ | 2021/5/6 | 0.70% | 6.61% |
64 | 山河智能 | 002097.SZ | 2021/5/6 | 0.70% | 4.39% |
65 | 新兴铸管 | 000778.SZ | 2021/5/6 | 0.64% | 4.19% |
66 | 盘江股份 | 600395.SH | 2021/5/6 | 0.60% | 4.08% |
67 | 金溢科技 | 002869.SZ | 2021/5/6 | 0.66% | 2.73% |
68 | 嘉化能源 | 600273.SH | 2021/5/6 | 0.58% | 2.39% |
69 | 林洋能源 | 601222.SH | 2021/5/6 | 0.65% | 1.72% |
70 | 徐工机械 | 000425.SZ | 2021/5/6 | 0.63% | 1.39% |
71 | 中南建设 | 000961.SZ | 2021/5/6 | 0.07% | -88.80% |
72 | 世茂股份 | 600823.SH | 2021/5/6 | 0.11% | -83.33% |
73 | 华夏幸福 | 600340.SH | 2021/5/6 | 0.13% | -80.07% |
74 | 正邦科技 | 002157.SZ | 2021/5/6 | 0.13% | -79.86% |
75 | 帝欧家居 | 002798.SZ | 2021/5/6 | 0.14% | -79.39% |
76 | 新城控股 | 601155.SH | 2021/5/6 | 0.14% | -78.57% |
77 | 荣盛发展 | 002146.SZ | 2021/5/6 | 0.15% | -76.11% |
78 | 蓝帆医疗 | 002382.SZ | 2021/5/6 | 0.16% | -75.45% |
79 | 美凯龙 | 601828.SH | 2021/5/6 | 0.23% | -65.57% |
80 | 晨鸣纸业 | 000488.SZ | 2021/5/6 | 0.24% | -64.74% |
81 | 东珠生态 | 603359.SH | 2021/5/6 | 0.18% | -63.03% |
82 | 金能科技 | 603113.SH | 2021/5/6 | 0.25% | -62.21% |
83 | 冀东水泥 | 000401.SZ | 2021/5/6 | 0.24% | -59.05% |
84 | 柳钢股份 | 601003.SH | 2021/5/6 | 0.27% | -57.60% |
85 | 中泰化学 | 002092.SZ | 2021/5/6 | 0.31% | -53.46% |
86 | 福建水泥 | 600802.SH | 2021/5/6 | 0.31% | -53.37% |
87 | 广汇汽车 | 600297.SH | 2021/5/6 | 0.33% | -51.50% |
88 | 天山股份 | 000877.SZ | 2021/5/6 | 0.31% | -50.03% |
89 | 韶钢松山 | 000717.SZ | 2021/5/6 | 0.31% | -49.87% |
90 | 大亚圣象 | 000910.SZ | 2021/5/6 | 0.33% | -49.16% |
91 | 三友化工 | 600409.SH | 2021/5/6 | 0.33% | -48.19% |
92 | 鞍钢股份 | 000898.SZ | 2021/5/6 | 0.34% | -47.65% |
93 | 三钢闽光 | 002110.SZ | 2021/5/6 | 0.30% | -47.54% |
94 | 瑞和股份 | 002620.SZ | 2021/5/6 | 0.35% | -47.22% |
95 | 利民股份 | 002734.SZ | 2021/5/6 | 0.35% | -45.57% |
96 | 山鹰国际 | 600567.SH | 2021/5/6 | 0.36% | -45.26% |
97 | 恒逸石化 | 000703.SZ | 2021/5/6 | 0.36% | -43.75% |
98 | 垒知集团 | 002398.SZ | 2021/5/6 | 0.37% | -43.34% |
99 | 新疆天业 | 600075.SH | 2021/5/6 | 0.37% | -43.27% |
100 | 华远地产 | 600743.SH | 2021/5/6 | 0.38% | -42.74% |
101 | 惠达卫浴 | 603385.SH | 2021/5/6 | 0.38% | -41.57% |
102 | 桐昆股份 | 601233.SH | 2021/5/6 | 0.40% | -40.36% |
103 | ST安泰 | 600408.SH | 2021/5/6 | 0.41% | -39.93% |
104 | 绿茵生态 | 002887.SZ | 2021/5/6 | 0.39% | -39.06% |
105 | 太钢不锈 | 000825.SZ | 2021/5/6 | 0.40% | -36.80% |
106 | 联泰环保 | 603797.SH | 2021/5/6 | 0.32% | -36.22% |
107 | 马钢股份 | 600808.SH | 2021/5/6 | 0.39% | -35.90% |
108 | 首钢股份 | 000959.SZ | 2021/5/6 | 0.43% | -35.76% |
109 | 长青集团 | 002616.SZ | 2021/5/6 | 0.44% | -34.83% |
110 | 精工钢构 | 600496.SH | 2021/5/6 | 0.43% | -34.59% |
111 | 上实发展 | 600748.SH | 2021/5/6 | 0.42% | -33.92% |
112 | 赞宇科技 | 002637.SZ | 2021/5/6 | 0.45% | -33.12% |
113 | 鄂武商A | 000501.SZ | 2021/5/6 | 0.44% | -32.84% |
114 | 金新农 | 002548.SZ | 2021/5/6 | 0.45% | -32.59% |
115 | 大悦城 | 000031.SZ | 2021/5/6 | 0.46% | -32.06% |
116 | 滨化股份 | 601678.SH | 2021/5/6 | 0.44% | -31.55% |
117 | 金圆股份 | 000546.SZ | 2021/5/6 | 0.47% | -29.66% |
118 | 中电兴发 | 002298.SZ | 2021/5/6 | 0.48% | -28.93% |
119 | 新钢股份 | 600782.SH | 2021/5/6 | 0.42% | -28.49% |
120 | 彩虹股份 | 600707.SH | 2021/5/6 | 0.48% | -27.80% |
121 | 西部建设 | 002302.SZ | 2021/5/6 | 0.48% | -26.81% |
122 | 传化智联 | 002010.SZ | 2021/5/6 | 0.48% | -25.73% |
123 | 鹏鹞环保 | 300664.SZ | 2021/5/6 | 0.48% | -25.49% |
124 | 金隅集团 | 601992.SH | 2021/5/6 | 0.46% | -25.44% |
125 | 日科化学 | 300214.SZ | 2021/5/6 | 0.50% | -24.56% |
126 | 城投控股 | 600649.SH | 2021/5/6 | 0.48% | -23.62% |
127 | 神马股份 | 600810.SH | 2021/5/6 | 0.45% | -23.35% |
128 | 华新水泥 | 600801.SH | 2021/5/6 | 0.45% | -22.18% |
129 | 东百集团 | 600693.SH | 2021/5/6 | 0.52% | -22.05% |
130 | 齐翔腾达 | 002408.SZ | 2021/5/6 | 0.37% | -20.35% |
131 | 唐人神 | 002567.SZ | 2021/5/6 | 0.53% | -19.47% |
132 | 华菱钢铁 | 000932.SZ | 2021/5/6 | 0.50% | -18.84% |
133 | 河钢资源 | 000923.SZ | 2021/5/6 | 0.55% | -17.10% |
134 | 鲁西化工 | 000830.SZ | 2021/5/6 | 0.48% | -16.88% |
135 | 城建发展 | 600266.SH | 2021/5/6 | 0.53% | -16.86% |
136 | 金岭矿业 | 000655.SZ | 2021/5/6 | 0.56% | -16.84% |
137 | 上汽集团 | 600104.SH | 2021/5/6 | 0.52% | -16.62% |
138 | 中联重科 | 000157.SZ | 2021/5/6 | 0.50% | -16.43% |
139 | 华锦股份 | 000059.SZ | 2021/5/6 | 0.54% | -14.91% |
140 | 东华能源 | 002221.SZ | 2021/5/6 | 0.56% | -13.23% |
141 | 濮耐股份 | 002225.SZ | 2021/5/6 | 0.58% | -11.68% |
142 | 中华企业 | 600675.SH | 2021/5/6 | 0.58% | -8.24% |
143 | 东宏股份 | 603856.SH | 2021/5/6 | 0.60% | -6.62% |
144 | 宁波华翔 | 002048.SZ | 2021/5/6 | 0.52% | -6.21% |
145 | 明泰铝业 | 601677.SH | 2021/5/6 | 0.45% | -5.24% |
146 | 荣安地产 | 000517.SZ | 2021/5/6 | 0.54% | -5.16% |
147 | 一汽富维 | 600742.SH | 2021/5/6 | 0.60% | -3.07% |
148 | 宝钢股份 | 600019.SH | 2021/5/6 | 0.56% | -2.51% |
149 | 浙商中拓 | 000906.SZ | 2021/5/6 | 0.58% | -2.28% |
150 | 山西焦化 | 600740.SH | 2021/5/6 | 0.47% | -2.23% |
151 | 祁连山 | 600720.SH | 2021/5/6 | 0.61% | -1.98% |
152 | 民生银行 | 600016.SH | 2021/5/6 | 0.57% | -1.73% |
153 | *ST科迪 | 002770.SZ | 2021/5/6 | 0.00% | 0.00% |
154 | 凯乐科技 | 600260.SH | 2021/5/6 | 0.00% | 0.00% |
155 | 葛洲坝 | 600068.SH | 2021/5/6 | 0.00% | 0.00% |
156 | 阳光城 | 000671.SZ | 2021/5/6 | 0.00% | 0.00% |