Research on the Theory of Passive Investment
LI Fengqing;Yantai Vocational College;
passive investment belongs to a new type of investment way relative to the traditional form of active investment.The theoretical basis of its core is the principle of compound interest,which can obtain good investment gains by holding high income securities for a long time.At the same time,the main theoretical basis includes three aspects:(1)two kinds of investors:theory mainly demonstrates the active investors are basically unable to overcome the social market,however,is a passive investment market index of social reproduction,the social income mainly includes market returns,so the overall investment initiative is inferior to passive investment.(2)capital asset pricing model(CAPM):mainly refers to the ideal combination of risk assets under the ideal condition of consistent expectations.It mainly includes market combination M,namely index.At the same time,index system can completely avoid the non systematic economic risk.Based on this theory,the economic portfolio construction mode of passive investment is based on index theory.(3)the long-term investment theory:Long term investment has a practical effect on reducing economic risk,which has been confirmed by the economic data of the US securities market.Therefore,the index fund advocates the long-term economic investment strategy of"buying and holding".
【CateGory Index】： F830.59