{"id":1896,"date":"2026-06-30T15:29:51","date_gmt":"2026-06-30T08:29:51","guid":{"rendered":"https:\/\/useful.vn\/?p=1896"},"modified":"2026-06-30T15:29:51","modified_gmt":"2026-06-30T08:29:51","slug":"dragon-capital-tam-ly-cho-thoi-khien-nhieu-nha-dau-tu-lo-nhip","status":"publish","type":"post","link":"https:\/\/useful.vn\/?p=1896","title":{"rendered":"Dragon Capital: T\u00e2m l\u00fd ‘ch\u1edd th\u1eddi’ khi\u1ebfn nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 l\u1ee1 nh\u1ecbp"},"content":{"rendered":"
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\nDragon Capital: T\u00e2m l\u00fd ‘ch\u1edd th\u1eddi’ khi\u1ebfn nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 l\u1ee1 nh\u1ecbp <\/h1>\n

N\u1ed7i s\u1ee3 thua l\u1ed7, \u0111\u00e1nh gi\u00e1 ng\u1eafn h\u1ea1n khi\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi tr\u00ec ho\u00e3n \u0111\u1ea7u t\u01b0 \u0111\u1ec3 ch\u1edd “b\u1eaft \u0111\u00e1y”, c\u00f3 th\u1ec3 g\u00e2y t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn hi\u1ec7u su\u1ea5t d\u00e0i h\u1ea1n, theo chuy\u00ean gia Dragon Capital.<\/p>\n

B\u00e0 L\u01b0\u01a1ng Th\u1ecb M\u1ef9 H\u1ea1nh, Gi\u00e1m \u0111\u1ed1c Qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n Kh\u1ed1i trong n\u01b0\u1edbc Dragon Capital, cho r\u1eb1ng ph\u1ea7n l\u1edbn nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec7n nay c\u00f3 suy ngh\u0129 “s\u1ebd xu\u1ed1ng ti\u1ec1n khi t\u00ecnh h\u00ecnh \u1ed5n \u0111\u1ecbnh h\u01a1n”, nh\u1ea5t l\u00e0 \u1edf c\u00e1c giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng bi\u1ebfn \u0111\u1ed9ng nh\u01b0 n\u0103m 2018, 2020 hay 2022. Tr\u1ea1ng th\u00e1i “ch\u1edd th\u1eddi” n\u00e0y kh\u00f4ng \u0111\u01a1n thu\u1ea7n l\u00e0 s\u1ef1 th\u1eadn tr\u1ecdng, m\u00e0 l\u00e0 hi\u1ec7u \u1ee9ng t\u00e2m l\u00fd c\u1ee7a nhi\u1ec1u ng\u01b0\u1eddi. Nh\u01b0ng c\u0169ng v\u00ec t\u00e2m l\u00fd n\u00e0y, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i t\u00edch l\u0169y t\u00e0i s\u1ea3n trong d\u00e0i h\u1ea1n.<\/p>\n

N\u1ed7i s\u1ee3 khi\u1ebfn nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ee9ng ngo\u00e0i th\u1ecb tr\u01b0\u1eddng<\/strong><\/p>\n

N\u0103m 1979, nh\u00e0 t\u00e2m l\u00fd h\u1ecdc Daniel Kahneman v\u00e0 Amos Tversky c\u00f4ng b\u1ed1 nghi\u00ean c\u1ee9u tr\u00ean t\u1ea1p ch\u00ed Econometrica<\/em>, \u0111\u1eb7t n\u1ec1n t\u1ea3ng cho kh\u00e1i ni\u1ec7m “n\u1ed7i s\u1ee3 thua l\u1ed7” (loss aversion). Kh\u00e1i ni\u1ec7m n\u00e0y cho r\u1eb1ng con ng\u01b0\u1eddi th\u01b0\u1eddng c\u1ea3m nh\u1eadn n\u1ed7i \u0111au t\u1eeb m\u1ea5t m\u00e1t m\u1ea1nh h\u01a1n ni\u1ec1m vui t\u1eeb m\u1ed9t kho\u1ea3n l\u1ee3i t\u01b0\u01a1ng \u0111\u01b0\u01a1ng. Ch\u1eb3ng h\u1ea1n, n\u1ed7i \u0111au t\u1eeb vi\u1ec7c m\u1ea5t 100 USD, l\u1edbn h\u01a1n kho\u1ea3ng g\u1ea5p \u0111\u00f4i ni\u1ec1m vui t\u1eeb vi\u1ec7c ki\u1ebfm \u0111\u01b0\u1ee3c \u0111\u00fang s\u1ed1 ti\u1ec1n \u0111\u00f3.<\/p>\n

Ngo\u00e0i n\u1ed7i s\u1ee3 thua l\u1ed7, m\u1ed9t y\u1ebfu t\u1ed1 t\u00e2m l\u00fd kh\u00e1c c\u0169ng t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn h\u00e0nh vi l\u00e0 “\u0111\u00e1nh gi\u00e1 ng\u1eafn h\u1ea1n” (myopic evaluation) – xu h\u01b0\u1edbng ph\u00f3ng \u0111\u1ea1i t\u1ea7m quan tr\u1ecdng c\u1ee7a bi\u1ebfn \u0111\u1ed9ng tr\u01b0\u1edbc m\u1eaft trong khi b\u1ecf qu\u00ean m\u1ee5c ti\u00eau d\u00e0i h\u1ea1n. Hai hi\u1ec7u \u1ee9ng n\u00e0y t\u1ea1o ra m\u1ed9t v\u00f2ng l\u1eb7p.<\/p>\n

B\u00e0 H\u1ea1nh cho bi\u1ebft trong nhi\u1ec1u n\u0103m quan s\u00e1t h\u00e0nh vi \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n, m\u00f4 h\u00ecnh n\u00e0y xu\u1ea5t hi\u1ec7n li\u00ean t\u1ee5c, khi nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1edd v\u1ed1n \u0111\u1ee7 l\u1edbn, ch\u1edd th\u1ecb tr\u01b0\u1eddng “\u0111\u1eb9p”, ch\u1edd t\u00ecnh h\u00ecnh \u1ed5n h\u01a1n.<\/p>\n

“Khi nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng thi\u1ebft l\u1eadp m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3, c\u00e1c bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ec1u c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn t\u00e2m l\u00fd, khi\u1ebfn h\u1ecd xem \u0111\u00e2y l\u00e0 r\u1ee7i ro v\u00e0 h\u00e0nh \u0111\u1ed9ng tr\u00e1i ng\u01b0\u1ee3c v\u1edbi k\u1ebf ho\u1ea1ch ban \u0111\u1ea7u”, b\u00e0 H\u1ea1nh ph\u00e2n t\u00edch.<\/p>\n

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B\u00e0 L\u01b0\u01a1ng Th\u1ecb M\u1ef9 H\u1ea1nh, Gi\u00e1m \u0111\u1ed1c Qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n Kh\u1ed1i trong n\u01b0\u1edbc Dragon Capital. \u1ea2nh: Dragon Capital<\/em><\/p>\n<\/figcaption><\/figure>\n

C\u00e1c b\u00e1o c\u00e1o tr\u00ean th\u1ebf gi\u1edbi c\u0169ng ch\u1ec9 ra t\u00e1c \u0111\u1ed9ng c\u1ee7a nh\u1eefng t\u00e2m l\u00fd n\u00e0y \u0111\u1ebfn hi\u1ec7u qu\u1ea3 \u0111\u1ea7u t\u01b0. B\u00e1o c\u00e1o QAIB (Quantitative Analysis of Investor Behavior) n\u0103m 2025 c\u1ee7a Dalbar – t\u1ed5 ch\u1ee9c nghi\u00ean c\u1ee9u \u0111\u1ed9c l\u1eadp t\u1ea1i M\u1ef9 t\u1eeb n\u0103m 1985, ghi nh\u1eadn l\u1ee3i nhu\u1eadn trung b\u00ecnh nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ef9 c\u1ed5 phi\u1ebfu n\u0103m 2024 l\u00e0 16,54%. Trong khi \u0111\u00f3, m\u1ee9c t\u0103ng tr\u01b0\u1edfng ch\u1ec9 s\u1ed1 S&P 500 trong c\u00f9ng n\u0103m \u0111\u1ea1t \u0111\u1ebfn 25,02%. Kho\u1ea3ng c\u00e1ch ch\u00eanh l\u1ec7ch gi\u1eefa l\u1ee3i nhu\u1eadn th\u1ef1c t\u1ebf v\u00e0 t\u1ef7 su\u1ea5t sinh l\u1eddi ti\u00eau chu\u1ea9n l\u00ean \u0111\u1ebfn g\u1ea7n 8,5%.<\/p>\n

Theo Dalbar, ph\u1ea7n l\u1edbn kho\u1ea3ng c\u00e1ch n\u00e0y kh\u00f4ng \u0111\u1ebfn t\u1eeb vi\u1ec7c ch\u1ecdn sai qu\u1ef9 hay c\u1ed5 phi\u1ebfu, m\u00e0 \u0111\u1ebfn t\u1eeb h\u00e0nh vi. Nh\u00e0 \u0111\u1ea7u t\u01b0 r\u00fat ti\u1ec1n kh\u1ecfi th\u1ecb tr\u01b0\u1eddng v\u00e0o m\u1ed7i qu\u00fd c\u1ee7a n\u0103m 2024, v\u1edbi \u0111\u1ee3t r\u00fat l\u1edbn nh\u1ea5t x\u1ea3y ra ngay tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng t\u0103ng m\u1ea1nh. \u0110\u00e2y l\u00e0 m\u1ed9t minh ch\u1ee9ng c\u1ee5 th\u1ec3 cho t\u00e1c \u0111\u1ed9ng c\u1ee7a \u0111\u00e1nh gi\u00e1 ng\u1eafn h\u1ea1n l\u00ean k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n.<\/p>\n

R\u1ee7i ro l\u1edbn nh\u1ea5t c\u1ee7a vi\u1ec7c ch\u1edd \u0111\u1ee3i, theo chuy\u00ean gia Dragon Capital, kh\u00f4ng n\u1eb1m \u1edf bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n m\u00e0 \u1edf chi ph\u00ed c\u01a1 h\u1ed9i c\u1ee7a th\u1eddi gian. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7c bi\u1ec7t c\u00f3 \u00fd ngh\u0129a v\u1edbi nh\u00f3m nh\u00e0 \u0111\u1ea7u t\u01b0 20-30 tu\u1ed5i – giai \u0111o\u1ea1n th\u1eddi gian \u0111\u1ea7u t\u01b0 c\u00f2n d\u00e0i v\u00e0 l\u1ee3i th\u1ebf l\u00e3i k\u00e9p c\u00f3 th\u1ec3 ph\u00e1t huy t\u1ed1i \u0111a. Tuy nhi\u00ean, nhi\u1ec1u ng\u01b0\u1eddi duy tr\u00ec l\u01b0\u1ee3ng ti\u1ec1n m\u1eb7t l\u1edbn v\u1edbi suy ngh\u0129 s\u1ebd \u0111\u1ea7u t\u01b0 khi t\u00edch l\u0169y \u0111\u1ee7 m\u1ed9t kho\u1ea3n \u0111\u00e1ng k\u1ec3, trong khi \u0111\u00f3 d\u00f2ng ti\u1ec1n g\u1ea7n nh\u01b0 kh\u00f4ng t\u1ea1o ra l\u1ee3i nhu\u1eadn v\u00e0 s\u1ee9c mua c\u00f3 th\u1ec3 gi\u1ea3m d\u1ea7n do l\u1ea1m ph\u00e1t.<\/p>\n

Ngh\u1ecbch l\u00fd c\u1ee7a vi\u1ec7c “canh \u0111\u00e1y”<\/strong><\/p>\n

Theo Dragon Capital, m\u1ed9t trong nh\u1eefng hi\u1ec3u l\u1ea7m ph\u1ed5 bi\u1ebfn c\u1ee7a ng\u01b0\u1eddi m\u1edbi l\u00e0 cho r\u1eb1ng mu\u1ed1n \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 ph\u1ea3i li\u00ean t\u1ee5c d\u1ef1 \u0111o\u00e1n di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng ho\u1eb7c x\u00e1c \u0111\u1ecbnh ch\u00ednh x\u00e1c th\u1eddi \u0111i\u1ec3m mua – b\u00e1n.<\/p>\n

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L\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0 qu\u1ef9 c\u1ed5 phi\u1ebfu th\u1ef1c t\u1ebf v\u00e0 m\u1ee9c t\u0103ng tr\u01b0\u1edfng ch\u1ec9 s\u1ed1 S&P 500 trong n\u0103m 2024. Ngu\u1ed3n: Dalbar<\/em><\/p>\n<\/figcaption><\/figure>\n

V\u1ec1 m\u1eb7t x\u00e1c su\u1ea5t, chi\u1ebfn l\u01b0\u1ee3c “canh th\u1eddi \u0111i\u1ec3m” \u0111\u00f2i h\u1ecfi nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i x\u00e1c \u0111\u1ecbnh \u0111\u00fang c\u1ea3 hai th\u1eddi \u0111i\u1ec3m: l\u00fac b\u00e1n ra v\u00e0 l\u00fac mua l\u1ea1i. Ngay c\u1ea3 c\u00e1c qu\u1ef9 chuy\u00ean nghi\u1ec7p v\u1edbi \u0111\u1ed9i ng\u0169 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u c\u0169ng hi\u1ebfm khi l\u00e0m \u0111\u01b0\u1ee3c \u0111i\u1ec1u n\u00e0y nh\u1ea5t qu\u00e1n theo th\u1eddi gian.<\/p>\n

Ngh\u1ecbch l\u00fd l\u00e0 c\u00e0ng c\u1ed1 g\u1eafng t\u1ed1i \u01b0u h\u00f3a th\u1eddi \u0111i\u1ec3m, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e0ng d\u1ec5 r\u01a1i v\u00e0o tr\u1ea1ng th\u00e1i ch\u1ea7n ch\u1eeb v\u00ec th\u1ecb tr\u01b0\u1eddng lu\u00f4n c\u00f3 nh\u1eefng y\u1ebfu t\u1ed1 b\u1ea5t \u0111\u1ecbnh ch\u1edd \u0111\u1ee3i ph\u00eda tr\u01b0\u1edbc. \u0110\u00f3 l\u00e0 l\u00fd do th\u1ecb tr\u01b0\u1eddng kh\u00e1 ph\u1ed5 bi\u1ebfn ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 (DCA – chi\u1ebfn l\u01b0\u1ee3c trung b\u00ecnh gi\u00e1), t\u1ee9c chia nh\u1ecf s\u1ed1 v\u1ed1n \u0111\u1ec3 mua \u0111\u1ec1u \u0111\u1eb7n theo l\u1ecbch c\u1ed1 \u0111\u1ecbnh, thay v\u00ec d\u1ed3n to\u00e0n b\u1ed9 v\u1ed1n v\u00e0o m\u1ed9t l\u1ea7n mua duy nh\u1ea5t.<\/p>\n

Theo quan s\u00e1t c\u1ee7a Dragon Capital v\u1edbi 75 k\u1ecbch b\u1ea3n \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 v\u00e0o qu\u1ef9 m\u1edf, tr\u1ea3i d\u00e0i t\u1eeb 12 th\u00e1ng tr\u01b0\u1edbc \u0111\u00e1y \u0111\u1ebfn 12 th\u00e1ng sau \u0111\u00e1y, qua ba giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng l\u1edbn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam (2018, 2020, 2022) th\u00ec 83% k\u1ecbch b\u1ea3n \u0111\u1ea7u t\u01b0 cho hi\u1ec7u su\u1ea5t v\u01b0\u1ee3t ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng VN-Index. Sau 24 th\u00e1ng, t\u1ef7 l\u1ec7 n\u00e0y t\u0103ng l\u00ean 95%. \u0110\u00e1ng ch\u00fa \u00fd, v\u1edbi th\u1eddi gian \u0111\u1ea7u t\u01b0 t\u1eeb 36 th\u00e1ng tr\u1edf l\u00ean, to\u00e0n b\u1ed9 c\u00e1c k\u1ecbch b\u1ea3n \u0111\u1ec1u ghi nh\u1eadn k\u1ebft qu\u1ea3 v\u01b0\u1ee3t ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng. D\u1eef li\u1ec7u n\u00e0y kh\u00f4ng kh\u1eb3ng \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 lu\u00f4n cho k\u1ebft qu\u1ea3 t\u1ed1t h\u01a1n vi\u1ec7c canh th\u1eddi \u0111i\u1ec3m nh\u01b0ng cho th\u1ea5y nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u1ea1t k\u1ebft qu\u1ea3 t\u00edch c\u1ef1c m\u00e0 kh\u00f4ng c\u1ea7n d\u1ef1 \u0111o\u00e1n ch\u00ednh x\u00e1c chu k\u1ef3 th\u1ecb tr\u01b0\u1eddng.<\/p>\n

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T\u1ef7 l\u1ec7 “th\u1eafng” c\u1ee7a c\u00e1c k\u1ecbch b\u1ea3n \u0111\u1ea7u t\u01b0 theo nhi\u1ec1u giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng (so v\u1edbi ch\u1ec9 s\u1ed1 c\u1ee7a VN-Index). Ngu\u1ed3n: D\u1eef li\u1ec7u Dragon Capital<\/em><\/p>\n<\/figcaption><\/figure>\n

Thay v\u00ec c\u1ed1 g\u1eafng d\u1ef1 \u0111o\u00e1n th\u1ecb tr\u01b0\u1eddng, b\u00e0 H\u1ea1nh g\u1ee3i \u00fd ng\u01b0\u1eddi m\u1edbi n\u00ean x\u00e2y d\u1ef1ng m\u1ed9t k\u1ebf ho\u1ea1ch c\u00f3 t\u00ednh k\u1ef7 lu\u1eadt. B\u01b0\u1edbc \u0111\u1ea7u ti\u00ean l\u00e0 x\u00e1c \u0111\u1ecbnh m\u1ee5c ti\u00eau t\u00e0i ch\u00ednh c\u1ee5 th\u1ec3 nh\u01b0 mua nh\u00e0, chu\u1ea9n b\u1ecb h\u1ecdc ph\u00ed cho con, hay k\u1ebf ho\u1ea1ch ngh\u1ec9 h\u01b0u… C\u00f3 m\u1ee5c ti\u00eau r\u00f5 r\u00e0ng gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u00ecn nh\u1eadn bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n \u0111\u00fang v\u1edbi b\u1ea3n ch\u1ea5t.<\/p>\n

B\u01b0\u1edbc ti\u1ebfp theo l\u00e0 ch\u1ecdn m\u1ed9t kho\u1ea3n ti\u1ec1n ph\u00f9 h\u1ee3p \u0111\u1ec3 \u0111\u1ea7u t\u01b0 h\u00e0ng th\u00e1ng v\u00e0 thi\u1ebft l\u1eadp c\u01a1 ch\u1ebf chuy\u1ec3n kho\u1ea3n t\u1ef1 \u0111\u1ed9ng. Theo b\u00e0, t\u1ef1 \u0111\u1ed9ng h\u00f3a kh\u00f4ng ph\u1ea3i l\u00e0 gi\u1ea3i ph\u00e1p cho m\u1ecdi v\u1ea5n \u0111\u1ec1 \u0111\u1ea7u t\u01b0, nh\u01b0ng gi\u00fap lo\u1ea1i b\u1ecf m\u1ed9t trong nh\u1eefng r\u1ee7i ro ph\u1ed5 bi\u1ebfn nh\u1ea5t nh\u01b0 ra quy\u1ebft \u0111\u1ecbnh d\u1ef1a tr\u00ean c\u1ea3m x\u00fac t\u1ea1i th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng bi\u1ebfn \u0111\u1ed9ng.<\/p>\n

Cu\u1ed1i c\u00f9ng l\u00e0 ch\u1ecdn k\u00eanh ph\u00f9 h\u1ee3p v\u1edbi kh\u1ea3 n\u0103ng v\u00e0 m\u1ee9c \u0111\u1ed9 theo d\u00f5i c\u1ee7a b\u1ea3n th\u00e2n. Ch\u1ee9ng ch\u1ec9 qu\u1ef9 l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn cho ph\u00e9p \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 v\u1edbi s\u1ed1 ti\u1ec1n nh\u1ecf, danh m\u1ee5c \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd b\u1edfi \u0111\u1ed9i ng\u0169 chuy\u00ean gia, ph\u00f9 h\u1ee3p v\u1edbi nh\u1eefng ai mu\u1ed1n tham gia th\u1ecb tr\u01b0\u1eddng m\u00e0 kh\u00f4ng c\u1ea7n theo d\u00f5i bi\u1ebfn \u0111\u1ed9ng h\u00e0ng ng\u00e0y. Gi\u1ea3i ph\u00e1p n\u00e0y gi\u1ea3i quy\u1ebft b\u00e0i to\u00e1n v\u1ec1 th\u1eddi gian v\u00e0 \u00e1p l\u1ef1c t\u00e2m l\u00fd, t\u1ed1i \u01b0u \u0111\u01b0\u1ee3c hi\u1ec7u su\u1ea5t sinh l\u1eddi trong d\u00e0i h\u1ea1n nh\u1edd n\u0103ng l\u1ef1c qu\u1ea3n l\u00fd chuy\u00ean s\u00e2u.<\/p>\n

Minh ch\u1ee9ng th\u1ef1c t\u1ebf, m\u1ee9c l\u1ee3i nhu\u1eadn k\u00e9p b\u00ecnh qu\u00e2n 3 n\u0103m qua c\u1ee7a qu\u1ef9 DCDS do Dragon Capital qu\u1ea3n l\u00fd \u0111\u1ea1t 21,9% m\u1ed7i n\u0103m (theo gi\u00e1 NAV t\u1ea1i ng\u00e0y 31\/5\/2026), cao h\u01a1n m\u1ee9c t\u0103ng tr\u01b0\u1edfng c\u1ee7a VN-Index c\u00f9ng th\u1eddi gian.<\/p>\n

“V\u1edbi ng\u01b0\u1eddi m\u1edbi, x\u00e2y d\u1ef1ng th\u00f3i quen \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3, ph\u00f9 h\u1ee3p v\u1edbi kh\u1ea3 n\u0103ng t\u00e0i ch\u00ednh quan tr\u1ecdng h\u01a1n vi\u1ec7c canh mua \u0111\u00e1y – b\u00e1n \u0111\u1ec9nh”, b\u00e0 H\u1ea1nh cho bi\u1ebft.<\/p>\n

Ho\u00e0i Ph\u01b0\u01a1ng<\/strong><\/p>\n

\n
\n
\"Dragon<\/div>\n
L\u1eddi khuy\u00ean \u0111\u1ea7u t\u01b0 t\u1eeb Dragon Capital:
\n– N\u1ed7i s\u1ee3 thua l\u1ed7 v\u00e0 th\u00f3i quen \u0111\u00e1nh gi\u00e1 ng\u1eafn h\u1ea1n khi\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi tr\u00ec ho\u00e3n vi\u1ec7c \u0111\u1ea7u t\u01b0.
\n– Vi\u1ec7c tr\u00ec ho\u00e3n k\u00e9o d\u00e0i s\u1ebd khi\u1ebfn d\u00f2ng ti\u1ec1n \u0111\u1ee9ng y\u00ean, kh\u00f4ng t\u1ea1o ra gi\u00e1 tr\u1ecb; nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i \u0111\u1ed3ng h\u00e0nh c\u00f9ng s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng.
\n– T\u01b0 duy t\u00edch l\u0169y \u0111\u1ecbnh k\u1ef3 v\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n quan tr\u1ecdng h\u01a1n vi\u1ec7c “canh” chu k\u1ef3 l\u00ean xu\u1ed1ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng.
\n– Nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi c\u00f3 th\u1ec3 b\u1eaft \u0111\u1ea7u v\u1edbi s\u1ed1 ti\u1ec1n nh\u1ecf, tr\u00edch \u0111\u1ecbnh k\u1ef3 cho c\u00e1c k\u00eanh nh\u01b0 ch\u1ee9ng ch\u1ec9 qu\u1ef9 \u0111\u1ec3 \u0111\u1ea7u t\u01b0 l\u00e2u d\u00e0i.<\/div>\n<\/div>\n<\/div>\n<\/article>\n
\n

https:\/\/vnexpress.net\/dragon-capital-tam-ly-cho-thoi-khien-nhieu-nha-dau-tu-lo-nhip-5089993.html<\/p>\n","protected":false},"excerpt":{"rendered":"

Dragon Capital: T\u00e2m l\u00fd ‘ch\u1edd th\u1eddi’ khi\u1ebfn nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 l\u1ee1 nh\u1ecbp N\u1ed7i s\u1ee3 thua l\u1ed7, \u0111\u00e1nh gi\u00e1 ng\u1eafn h\u1ea1n khi\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi tr\u00ec ho\u00e3n \u0111\u1ea7u t\u01b0 \u0111\u1ec3 ch\u1edd “b\u1eaft \u0111\u00e1y”, c\u00f3 th\u1ec3 g\u00e2y t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn hi\u1ec7u su\u1ea5t d\u00e0i h\u1ea1n, theo chuy\u00ean gia Dragon Capital. B\u00e0 L\u01b0\u01a1ng Th\u1ecb M\u1ef9 H\u1ea1nh, Gi\u00e1m \u0111\u1ed1c Qu\u1ea3n<\/p>\n","protected":false},"author":1,"featured_media":1897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thi-truong"],"_links":{"self":[{"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/posts\/1896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1896"}],"version-history":[{"count":0,"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/posts\/1896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/media\/1897"}],"wp:attachment":[{"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}