类型投资的思维机制探究

Exploring into the Mentality of Category Investment

在缺乏时间或深入(精确)认知能力时,人们最有可能运用类型思维,本文即从类型思维这一角度论述了类型投资的心理机制。投资者首先对资产加以认知,并将之与某一类型相匹配,然后从类型层面对资产类型未来回报做一预期。不同投资理念的投资者对类型资产未来回报预期存在分歧,在此基础上投资者在不同类型层面做出类型投资决策。

Inadequate time or lacking in precise cognitive ability usually lead to category mentality, which is explored in this article. Investors try to recognize an asset before matching it to some category, and then future return of the asset is projected on the basis. Investors differ in their projections as to the future return of assets, thus resulting in category investment decisions on different category levels.