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top-down and bottom-up investing(原創)

作者:putongren10  於 2009-8-6 05:15 發表於 最熱鬧的華人社交網路--貝殼村

作者分類:財經股市|通用分類:其它日誌|已有9評論

top-down and bottom-up investing

There are two basic approaches in making an investment decision:

 A top-down investing approach is an investment philosophy where this approach involves looking at the "big picture" in the economy and financial world and then breaking those components down further details into industries, sectors and particular companies.

Having looked at the big pictures, the investors trickle down to the small pictures to make sure all the predictions have a reasonable layers step by step.

From this point, the investor first analyzes if both the global and domestic economies are on his side,

then he analyzes if the industries are in his favor, finally, he picks up the stocks of specific companies to be further analyzed. And then he makes his investment decisions that are believed to be successful for his investments.

Another approach is bottom-up investing, which is just the opposite way to the top-down investing.

In bottom-up investing, the investor focuses his or her attention on a specific company rather than on the industry in which that company operates  on the economy as a whole. 

The bottom-up approach assumes that individual companies can do well even though the industry  is not performing very well. The investor makes a thorough analysis on the company rather on the industry and the economy as the whole. In his mind, it doesn』t matter whether the economy or the industry is sound or not, if the company is good, it will be a good investment opportunity. That mostly suits the special case for the company, e.g. a good product in the pipeline, take-over target, and /or good earning prediction. Today's aig is a good example of bottompup approch.

An investor can use different approaches to decide whether to employ the top-down or bottom-up approach. When there is a special case for the company, it is better to use bottom-up approach, on general, it』s better follow top-down approch.

When the economy is in crisis, it』s safer to use top-down  approach to make an investment decision.

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發表評論 評論 (9 個評論)

回復 manjing 2009-8-6 07:31
這樣看很抽象.最好有圖解.
回復 遙祝 2009-8-6 08:12
普先生好,你在休閑吧發的《聊下中美兩國外籍人士養老金的問題》帖子,有村民在諮詢你的問題,有空去給她們回帖哈,謝謝!!
回復 putongren10 2009-8-6 08:32
遙祝: 普先生好,你在休閑吧發的《聊下中美兩國外籍人士養老金的問題》帖子,有村民在諮詢你的問題,有空去給她們回帖哈,謝謝!!
謝謝遙祝mm,
上網有困難,那裡進不了,
本周末我就回去了,我一定馬上答覆,

咱們是好朋友啦,一定答覆,西西
回復 putongren10 2009-8-6 08:34
manjingwang: 這樣看很抽象.最好有圖解.
上不了圖
回復 manjing 2009-8-6 08:35
putongren10: 上不了圖
怎麼不能呢...有心打石,石有洞.
回復 putongren10 2009-8-6 08:39
manjingwang: 怎麼不能呢...有心打石,石有洞.
關鍵是代理不接受,我至少換了20 個代理
回復 manjing 2009-8-6 08:41
putongren10: 關鍵是代理不接受,我至少換了20 個代理
還在上海嗎???你不是說回來了嗎....府上的夫人不想你嗎.
回復 遙祝 2009-8-6 08:49
putongren10: 謝謝遙祝mm,
上網有困難,那裡進不了,
本周末我就回去了,我一定馬上答覆,

咱們是好朋友啦,一定答覆,西西
普先生好,你去哪裡啊?你說的回去是指那裡啊?什麼時候再回來?想念你哈
回復 manjing 2009-8-6 11:19
putongren10: 關鍵是代理不接受,我至少換了20 個代理
那還得了. 我調兵遣將技術支持你,等著.

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