大體分為三大派別:
1. 技術分析 (Technical Analysis)
2. 基本面分析 (Fundamental Analysis)
3. 定量分析法 (Quantitative Analysis)
Original Posted by - b'Jeremy':Here are some popular trading strategies used by investment banks/ hedge funds.
- Arbitrage
- Market Neutral
- Relative Value
- Event Driven
- Macro Economy
- Long/Short Bias
- Hedging
- Market Making
- Execution Algo
Original Posted by - b'Jeremy':Here are some popular trading strategies used by investment banks/ hedge funds.
- Arbitrage
- Market Neutral
- Relative Value
- Event Driven
- Macro Economy
- Long/Short Bias
- Hedging
- Market Making
- Execution Algo
Original Posted by - b'Wang': 可以举一些具体的例子吗?
Broker Bid Ask A 100 102 B 103 104
Original Posted by - b'Jeremy': Here are some examples for (1) Arbitrage, Arbitrage is basically due to mis-pricing of the same item.Cross Broker Arbitrage:Suppose you have 2 trading accounts from different brokers, say Broker A and Broker B. Due to data latency, it is possible that sometimes for the same financial instrument you could get different price quotes. Suppose at a particular time of a trading day, you observe the following quotes of a stock:
Broker Bid Ask A 100 102 B 103 104 Then, we can open a buy order at $102 from broker A, and simultaneously open another sell order at $103 from broker B. Here we get the arbitrage profit $1Big Mac Arbitrage:Many Economic class should mention about this example. McDonald is a global fast food restaurant. Suppose its Big Mac are identical all over the world. Let's say you observe the following:
- Big Mac in Hong Kong is selling at HKD 30
- Big Mac in China is selling at RMB 25
- The exchange rate for 1 HKD is 0.8 RMB
Then, we can buy 1 Big Mac at HKD 30 in Hong Kong, sell it at RMB 25, and convert RMB back to HKD. Thus, we get (25/0.8 - 30) = HKD 1.25 arbitrage profit!