投資學虛擬投資競賽

Abstract

中文摘要 透過虛擬投資競賽我們將研究如何在短期將投資報酬率最大化，在有限的時間、資金和競賽規則內創造最佳收益，我們將採取不違規、風險分散及低買高賣的原則，並使用四項分析方法，包含局勢、技術、財報及成交量來當作我們的投資策略。在資金配置方面，我們採取持有一定比例的ETF，並將其餘資金投資於各產業股票，其中以半導體業為主。 在選擇投資標的時，利用時事與股市APP資訊及各項技術指標，包含MA線是否黃金交叉、短日線是否強勁、成交量是否足夠、三大法人是否買超、獲利能力是否良好以及是否小於同業本益比來做為買進依據。而在風險管理的部分，雖然投資於高比例的ETF來風散風險，但是在投資於個股方面犯了熟悉性偏好、處置效應、過度自信、產業選擇過度集中和停利停損點設置不夠明確的因素，導致報酬率不如預期。 藉由這份報告，我們回顧整個競賽期間，並反省過程中的缺失，接著歸納出可完善之處，最後期許在未來於現實投資中能有更好的表現。

Abstract To begin with, how to maximize the rate of return in this Investment Simulation Game in the short term is our research objective. To create the highest returns within the limited time, game rules and current funds. We adopt some principles, for instance: obeying the game regulations, spreading risk, and " buying low and selling high" skill. And use four analytical methods to become our investment strategy, including situation, technology, financial report and volume. Besides, in the part of capital allocation, we persist in having some part of ETF, and investing the remaining funds in the stocks with various industries, especially the semiconductor industry. When selecting the investment target, we use information from news, stocks app, and technical analysis indicators to determine whether to buy stocks. For example: Golden Cross of MA, the strength of the short-day line, trading volume, institution investors, and profitability; However, in the part of risk management, although having higher rate of ETF to spread out risk, we still could not avoid our mental hurdle. It led to the rate of return is lower than what we expected. Reasons contain familiarity preferences, disposition effect, and overconfidence, and so on. In conclusion, after the competition, we reflect on mistakes we made and summarize some ways to improve. Hope all of us having better performance in the future.