{"id":31424,"date":"2023-12-07T10:38:26","date_gmt":"2023-12-07T10:38:26","guid":{"rendered":"https:\/\/masterskills.org\/blog\/dau-tu-chu-dong-active-management-la-gi-nhung-dac-diem-can-luu-y.html"},"modified":"2023-12-23T08:10:56","modified_gmt":"2023-12-23T01:10:56","slug":"dau-tu-chu-dong-active-management-la-gi-nhung-dac-diem-can-luu-y","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/dau-tu-chu-dong-active-management-la-gi-nhung-dac-diem-can-luu-y.html","title":{"rendered":"\u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng (Active Management) l\u00e0 g\u00ec? Nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m c\u1ea7n l\u01b0u \u00fd"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda. Ngu\u1ed3n: Youtube.com<\/p>\n<\/div>\n<\/div>\n

\u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/font><\/h2>\n

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

\u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/b>\u00a0trong ti\u1ebfng Anh l\u00e0 active management<\/b>,\u00a0active investment <\/b>hay active investing.<\/b><\/p>\n

\u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/b> l\u00e0 vi\u1ec7c s\u1eed d\u1ee5ng y\u1ebfu t\u1ed1 con ng\u01b0\u1eddi nh\u01b0 vi\u1ec7c s\u1eafp x\u1ebfp m\u1ed9t qu\u1ea3n l\u00ed, \u0111\u1ed3ng qu\u1ea3n l\u00ed hay m\u1ed9t nh\u00f3m qu\u1ea3n l\u00ed \u0111\u1ec3 ch\u1ee7 \u0111\u1ed9ng qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0. Nh\u1eefng ng\u01b0\u1eddi qu\u1ea3n l\u00ed ch\u1ee7 \u0111\u1ed9ng s\u1ebd d\u1ef1a v\u00e0o b\u00e1o c\u00e1o ph\u00e2n t\u00edch, d\u1ef1 b\u00e1o, c\u0169ng nh\u01b0 ph\u00e1n \u0111o\u00e1n v\u00e0 kinh nghi\u1ec7m c\u00e1 nh\u00e2n c\u1ee7a h\u1ecd \u0111\u1ec3 quy\u1ebft \u0111\u1ecbnh mua ho\u1eb7c b\u00e1n m\u1ed9t c\u1ed5 phi\u1ebfu. Tr\u00e1i ng\u01b0\u1ee3c v\u1edbi \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng l\u00e0 \u0111\u1ea7u t\u01b0 b\u1ecb \u0111\u1ed9ng, hay c\u00f2n \u0111\u01b0\u1ee3c bi\u1ebft \u0111\u1ebfn l\u00e0 ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 theo ch\u1ec9 s\u1ed1.<\/p>\n

Ph\u00e2n t\u00edch ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/font><\/h3>\n

Nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/b> s\u1ebd kh\u00f4ng tin v\u00e0o thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3. H\u1ecd tin t\u01b0\u1edfng r\u1eb1ng c\u00f3 th\u1ec3 ki\u1ebfm l\u1ee3i nhu\u1eadn tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n b\u1eb1ng c\u00e1ch t\u00ecm ra c\u00e1c c\u1ed5 phi\u1ebfu b\u1ecb \u0111\u1ecbnh gi\u00e1 sai.<\/p>\n

Nh\u1eefng c\u00f4ng ty \u0111\u1ea7u t\u01b0 v\u00e0 nh\u00e0 t\u00e0i tr\u1ee3 c\u1ee7a qu\u0129 tin r\u1eb1ng h\u1ecd c\u00f3 th\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c k\u1ebft qu\u1ea3 t\u1ed1t h\u01a1n th\u1ecb tr\u01b0\u1eddng chung v\u00e0 t\u00ecm nh\u1eefng nh\u00e0 qu\u1ea3n l\u00ed \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p \u0111\u1ec3 qu\u1ea3n l\u00ed m\u1ed9t hay nhi\u1ec1u qu\u0129 t\u01b0\u01a1ng h\u1ed7 c\u1ee7a h\u1ecd. David Einhorn, nh\u00e0 s\u00e1ng l\u1eadp v\u00e0 ch\u1ee7 t\u1ecbch c\u1ee7a qu\u0129 Greenlight Capital, l\u00e0 m\u1ed9t v\u00ed d\u1ee5 n\u1ed5i ti\u1ebfng v\u1ec1 ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 theo ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng.<\/p>\n

M\u1ee5c ti\u00eau c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/font><\/h3>\n

\u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/b> t\u00ecm ki\u1ebfm nh\u1eefng c\u01a1 h\u1ed9i mang l\u1ea1i t\u1ec9 su\u1ea5t l\u1ee3i nhu\u1eadn cao h\u01a1n so v\u1edbi vi\u1ec7c \u0111\u1ea7u t\u01b0 th\u1ee5 \u0111\u1ed9ng v\u00e0o m\u1ed9t qu\u0129 ch\u1ec9 s\u1ed1. V\u00ed d\u1ee5 nh\u01b0 vi\u1ec7c m\u1ed9t nh\u00e0 qu\u1ea3n l\u00ed qu\u0129 chuy\u00ean \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn nh\u1eb1m \u0111\u00e1nh b\u1ea1i t\u1ec9 su\u1ea5t l\u1ee3i nhu\u1eadn c\u1ee7a ch\u1ec9 s\u1ed1 S&P 500.<\/p>\n

Nh\u01b0ng ph\u1ea3i n\u00f3i r\u1eb1ng v\u1edbi \u0111a s\u1ed1 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng, \u0111\u00e2y l\u00e0 m\u1ed9t m\u1ee5c ti\u00eau kh\u00f3 \u0111\u1ea1t \u0111\u01b0\u1ee3c. Vi\u1ec7c n\u00e0y c\u0169ng n\u00f3i l\u00ean r\u1eb1ng cho d\u00f9 ng\u01b0\u1eddi qu\u1ea3n l\u00ed \u0111\u00f3 c\u00f3 gi\u1ecfi nh\u01b0 th\u1ebf n\u00e0o th\u00ec vi\u1ec7c \u0111\u00e1nh b\u1ea1i th\u1ecb tr\u01b0\u1eddng c\u0169ng l\u00e0 m\u1ed9t vi\u1ec7c r\u1ea5t kh\u00f3. Nh\u1eefng qu\u0129 \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng th\u01b0\u1eddng c\u00f3 m\u1ee9c ph\u00ed cao h\u01a1n nh\u1eefng qu\u0129 \u0111\u1ea7u t\u01b0 b\u1ecb \u0111\u1ed9ng.<\/p>\n

\u01afu \u0111i\u1ec3m c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/font><\/h3>\n

K\u0129 n\u0103ng v\u00e0 kinh nghi\u1ec7m c\u00e1 nh\u00e2n c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 s\u1ebd \u0111\u00f3ng vai tr\u00f2 then ch\u1ed1t trong ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng. V\u00ed d\u1ee5, n\u1ebfu ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 c\u00f3 kinh nghi\u1ec7m nhi\u1ec1u n\u0103m trong l\u0129nh v\u1ef1c \u00f4 t\u00f4 th\u00ec qu\u0129 \u0111\u00f3 c\u00f3 kh\u1ea3 n\u0103ng s\u1ebd \u0111\u00e1nh b\u1ea1i c\u00e1c ch\u1ec9 s\u1ed1 khi ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty s\u1ea3n xu\u1ea5t \u00f4 t\u00f4 b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p.<\/p>\n

Ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng s\u1ebd c\u00f3 \u0111\u01b0\u1ee3c s\u1ef1 linh ho\u1ea1t. H\u1ecd c\u00f3 quy\u1ec1n t\u1ef1 do ch\u1ecdn c\u1ed5 phi\u1ebfu \u0111\u1ec3 \u0111\u1ea7u t\u01b0 m\u00e0 kh\u00f4ng b\u1ecb l\u1ec7 thu\u1ed9c v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1. H\u1ecd c\u00f3 kh\u1ea3 n\u0103ng mua v\u00e0 b\u00e1n t\u00f9y \u00fd n\u00ean s\u1ebd kh\u1ea3 thi trong vi\u1ec7c b\u00f9 l\u1ea1i nh\u1eefng kho\u1ea3n \u0111\u1ea7u t\u01b0 thua l\u1ed7 b\u1eb1ng nh\u1eefng kho\u1ea3n \u0111\u1ea7u t\u01b0 th\u1eafng l\u1ee3i kh\u00e1c.<\/p>\n

Ki\u1ec3m so\u00e1t r\u1ee7i ro trong ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng<\/font><\/h3>\n

V\u00ec kh\u00f4ng ph\u1ea3i l\u1ec7 thu\u1ed9c v\u00e0o m\u1ed9t ch\u1ec9 s\u1ed1 nh\u1ea5t \u0111\u1ecbnh n\u00e0o, nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t r\u1ee7i ro m\u1ed9t c\u00e1ch hi\u1ec7u qu\u1ea3 h\u01a1n. V\u00ed du, m\u1ed9t qu\u0129 \u0111\u1ea7u t\u01b0 ETF ng\u00e0nh ng\u00e2n h\u00e0ng s\u1ebd bu\u1ed9c ph\u1ea3i n\u1eafm gi\u1eef m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu ng\u00e2n h\u00e0ng Anh nh\u1ea5t \u0111\u1ecbnh v\u00e0 qu\u0129 \u0111\u1ea7u t\u01b0 n\u00e0y s\u1ebd ph\u1ea3i g\u00e1nh ch\u1ecbu m\u1ed9t \u0111\u1ee3t s\u1ee5t gi\u1ea3m nghi\u00eam tr\u1ecdng khi c\u00fa s\u1ed1c Brexit x\u1ea3y ra .<\/p>\n

Nh\u01b0ng \u0111\u1ed1i v\u1edbi nh\u1eefng qu\u0129 \u0111\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng, h\u1ecd c\u00f3 th\u1ec3 gi\u1ea3m t\u1ec9 tr\u1ecdng ho\u1eb7c thanh l\u00ed t\u1ea5t c\u1ea3 c\u1ed5 phi\u1ebfu ng\u00e2n h\u00e0ng Anh khi m\u00e0 r\u1ee7i ro qu\u00e1 cao. Ngo\u00e0i ra, h\u1ecd c\u00f2n c\u00f3 th\u1ec3 k\u1ebft h\u1ee3p nh\u1eefng chi\u1ebfn thu\u1eadt hedging nh\u01b0 b\u00e1n kh\u1ed1ng hay c\u00e1c c\u00f4ng c\u1ee5 ph\u00e1i sinh \u0111\u1ec3 b\u1ea3o v\u1ec7 danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh.<\/p>\n

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

\n \u0110\u1ea7u t\u01b0 ch\u1ee7 \u0111\u1ed9ng (ti\u1ebfng Anh: active management) l\u00e0 vi\u1ec7c s\u1eed d\u1ee5ng y\u1ebfu t\u1ed1 con ng\u01b0\u1eddi \u0111\u1ec3 ch\u1ee7 \u0111\u1ed9ng qu\u1ea3n l\u00ed m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0.\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\/31424"}],"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=31424"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31424\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}