{"id":30391,"date":"2023-12-07T09:15:03","date_gmt":"2023-12-07T09:15:03","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phuong-phap-dau-tu-tu-tren-xuong-top-down-investing-la-gi.html"},"modified":"2023-12-23T06:12:57","modified_gmt":"2023-12-22T23:12:57","slug":"phuong-phap-dau-tu-tu-tren-xuong-top-down-investing-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phuong-phap-dau-tu-tu-tren-xuong-top-down-investing-la-gi.html","title":{"rendered":"Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng (Top-Down Investing) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/i><\/p>\n<\/figcaption><\/figure>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/span> <\/b>trong ti\u1ebfng Anh l\u00e0 Top-Down Investing.<\/b><\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/i><\/span> l\u00e0 ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n t\u00edch y\u00eau c\u1ea7u tr\u01b0\u1edbc h\u1ebft ph\u1ea3i xem x\u00e9t t\u00ecnh h\u00ecnh v\u0129 m\u00f4 t\u1ed5ng th\u1ec3 c\u1ee7a n\u1ec1n kinh t\u1ebf, r\u1ed3i m\u1edbi ti\u1ebfp t\u1ee5c \u0111\u00e1nh gi\u00e1 c\u00e1c y\u1ebfu t\u1ed1 \u1edf c\u1ea5p \u0111\u1ed9 th\u1ea5p h\u01a1n k\u0129 c\u00e0ng h\u01a1n.\u00a0<\/p>\n

Sau khi xem x\u00e9t c\u00e1c \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf t\u1ed5ng th\u1ec3 tr\u00ean kh\u1eafp th\u1ebf gi\u1edbi, nh\u00e0 ph\u00e2n t\u00edch ti\u1ebfp t\u1ee5c \u0111\u00e1nh gi\u00e1 c\u00e1c \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng chung, r\u1ed3i \u0111\u1ebfn t\u1eebng ng\u00e0nh c\u00f4ng nghi\u1ec7p c\u1ee5 th\u1ec3 \u0111\u1ec3 ch\u1ecdn ra nh\u1eefng ng\u00e0nh \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd c\u00f3 k\u1ebft qu\u1ea3 kh\u1ea3 quan.\u00a0<\/p>\n

T\u1eeb \u0111\u00e2y, h\u1ecd ph\u00e2n t\u00edch s\u00e2u h\u01a1n v\u1ec1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty c\u1ee5 th\u1ec3, \u0111\u1ec3 ch\u1ecdn nh\u1eefng c\u00f4ng ty c\u00f3 kh\u1ea3 n\u0103ng tr\u1edf th\u00e0nh kho\u1ea3n \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng, b\u1eb1ng c\u00e1ch xem x\u00e9t c\u00e1c th\u00f4ng tin c\u0103n b\u1ea3n c\u1ee7a ch\u00fang.\u00a0\u00a0<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng <\/i>ch\u00fa tr\u1ecdng nh\u1ea5t \u0111\u1ebfn c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 ho\u1eb7c c\u00e1c y\u1ebfu t\u1ed1 c\u1ea5p \u0111\u1ed9 th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/i> c\u00f3 th\u1ec3 tr\u00e1i ng\u01b0\u1ee3c v\u1edbi\u00a0ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb d\u01b0\u1edbi l\u00ean.\u00a0<\/p>\n

Hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/font><\/h3>\n

\u0110\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c c\u00e1i nh\u00ecn t\u1ed5ng th\u1ec3, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 theo ph\u01b0\u01a1ng ph\u00e1p n\u00e0y s\u1eed d\u1ee5ng c\u00e1c bi\u1ebfn s\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 nh\u01b0 GDP, c\u00e1n c\u00e2n th\u01b0\u01a1ng m\u1ea1i, chuy\u1ec3n \u0111\u1ed9ng c\u1ee7a d\u00f2ng ti\u1ec1n, l\u1ea1m ph\u00e1t, l\u00e3i su\u1ea5t v\u00e0 c\u00e1c kh\u00eda c\u1ea1nh kh\u00e1c c\u1ee7a n\u1ec1n kinh t\u1ebf.\u00a0<\/p>\n

Sau \u0111\u00f3, h\u1ecd chuy\u1ec3n xu\u1ed1ng c\u1ea5p \u0111\u1ed9 th\u1ea5p h\u01a1n \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c ng\u00e0nh ho\u1eb7c l\u0129nh v\u1ef1c c\u00f3 hi\u1ec7u qu\u1ea3 cao trong n\u1ec1n kinh t\u1ebf v\u0129 m\u00f4. D\u1ef1a tr\u00ean c\u00e1c y\u1ebfu t\u1ed1 n\u00e0y, nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n hi\u1ec7u qu\u1ea3, thay v\u00ec ph\u00e2n t\u00edch v\u00e0 \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o t\u1eebng c\u00f4ng ty c\u1ee5 th\u1ec3.\u00a0<\/p>\n

V\u00ed d\u1ee5, n\u1ebfu t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf \u1edf ch\u00e2u \u00c1 t\u1ed1t h\u01a1n t\u0103ng tr\u01b0\u1edfng n\u1ed9i \u0111\u1ecba M\u1ef9, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 mua c\u00e1c qu\u0129 ETF \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c n\u01b0\u1edbc ch\u00e2u \u00c1.\u00a0<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/i> c\u00f3 th\u1ec3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1o ra danh m\u1ee5c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, bao g\u1ed3m c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 theo ch\u1ec9 s\u1ed1 th\u1ee5 \u0111\u1ed9ng.\u00a0<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/font><\/h4>\n

UBS \u0111\u00e3 t\u1ed5 ch\u1ee9c Di\u1ec5n \u0111\u00e0n to\u00e0n c\u1ea7u UBS CIO 2016 t\u1ea1i Beverly Hills \u0111\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111i\u1ec1u ch\u1ec9nh theo m\u00f4i tr\u01b0\u1eddng kinh t\u1ebf hi\u1ec7n t\u1ea1i.\u00a0<\/p>\n

Di\u1ec5n \u0111\u00e0n n\u00e0y \u0111\u1ec1 c\u1eadp \u0111\u1ebfn c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng, bao g\u1ed3m ch\u00ednh s\u00e1ch c\u1ee7a ch\u00ednh ph\u1ee7 c\u00e1c n\u01b0\u1edbc, ch\u00ednh s\u00e1ch c\u1ee7ang\u00e2n h\u00e0ng trung \u01b0\u01a1ng, hi\u1ec7u qu\u1ea3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a Brexit \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u. C\u00e1ch m\u00e0 UBS ti\u1ebfp c\u1eadn c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf n\u00e0y h\u1ed7 tr\u1ee3 cho chi\u1ebfn l\u01b0\u1ee3c theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng.<\/i><\/p>\n

Jeremy Zirin – m\u1ed9t nh\u00e0 qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n thu\u1ed9c UBS Wealth Management America, \u0111\u00e3 k\u1ec3 v\u1ec1 l\u1ee3i \u00edch c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng<\/b> ng\u00e0y 28\/6\/2016. Zirin v\u00e0 nh\u00f3m c\u1ee7a \u00f4ng th\u1ea5y r\u1eb1ng c\u00e1c c\u1ed5 phi\u1ebfu thu\u1ed9c nh\u00f3m h\u00e0ng ti\u00eau d\u00f9ng kh\u00f4ng thi\u1ebft y\u1ebfu c\u00f3 v\u1ebb h\u1ea5p d\u1eabn.\u00a0<\/p>\n

Nh\u00f3m c\u1ee7a \u00f4ng \u0111\u00e3 t\u00ednh \u0111\u1ebfn c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 n\u00f3i tr\u00ean v\u00e0 th\u1ea5y r\u1eb1ng h\u00e0ng ti\u00eau d\u00f9ng kh\u00f4ng thi\u1ebft y\u1ebfu \u0111\u01b0\u1ee3c “c\u00e1ch li” kh\u1ecfi c\u00e1c r\u1ee7i ro qu\u1ed1c t\u1ebf, v\u00e0 \u0111\u01b0\u1ee3c c\u1ee7ng c\u1ed1 b\u1edfi s\u1ee9c m\u1ea1nh chi ti\u00eau c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng M\u1ef9.\u00a0<\/p>\n

Vi\u1ec7c x\u00e1c \u0111\u1ecbnh l\u0129nh v\u1ef1c n\u00e0y cho ph\u00e9p Zirin v\u00e0 nh\u00f3m c\u1ee7a \u00f4ng ph\u00e1t hi\u1ec7n ra r\u1eb1ng Home Depot l\u00e0 m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 t\u1ed1t.<\/p>\n

(Tham kh\u1ea3o: Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 t\u1eeb tr\u00ean xu\u1ed1ng (ti\u1ebfng Anh: Top-Down Investing) y\u00eau c\u1ea7u nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc ti\u00ean ph\u1ea3i quan t\u00e2m \u0111\u1ebfn y\u1ebfu t\u1ed1 v\u0129 m\u00f4, sau \u0111\u00f3 m\u1edbi ti\u1ebfp t\u1ee5c ph\u00e2n t\u00edch c\u00e1c y\u1ebfu t\u1ed1 \u1edf c\u1ea5p \u0111\u1ed9 th\u1ea5p h\u01a1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30391"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30391"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30391\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}