{"id":19651,"date":"2026-09-27T09:47:19","date_gmt":"2026-09-27T02:47:19","guid":{"rendered":"https:\/\/useful.vn\/?p=19651"},"modified":"2026-09-27T09:47:19","modified_gmt":"2026-09-27T02:47:19","slug":"dragon-capital-giu-nhip-dau-tu-giup-vuot-kho-truoc-nhung-rung-lac","status":"publish","type":"post","link":"https:\/\/useful.vn\/?p=19651","title":{"rendered":"Dragon Capital: Gi\u1eef nh\u1ecbp \u0111\u1ea7u t\u01b0 gi\u00fap v\u01b0\u1ee3t kh\u00f3 tr\u01b0\u1edbc nh\u1eefng rung l\u1eafc"},"content":{"rendered":"
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\nDragon Capital: Gi\u1eef nh\u1ecbp \u0111\u1ea7u t\u01b0 gi\u00fap v\u01b0\u1ee3t kh\u00f3 tr\u01b0\u1edbc nh\u1eefng rung l\u1eafc <\/h1>\n

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n 2026 ch\u1ee9ng ki\u1ebfn nhi\u1ec1u c\u00fa rung l\u1eafc \u0111\u1ebfn t\u1eeb v\u0129 m\u00f4, \u00e1p l\u1ef1c l\u00e3i su\u1ea5t, \u0111\u00f2i h\u1ecfi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u00f3 ch\u1ecdn l\u1ecdc, t\u00edch l\u0169y \u0111\u1ec1u \u0111\u1eb7n, theo T\u1ed5ng gi\u00e1m \u0111\u1ed1c Dragon Capital.<\/p>\n

Th\u00f4ng tin do TS. L\u00ea Anh Tu\u1ea5n, T\u1ed5ng gi\u00e1m \u0111\u1ed1c Dragon Capital chia s\u1ebb t\u1ea1i Investor Day ch\u1ee7 \u0111\u1ec1 “\u0110\u1ea7u t\u01b0 khi c\u00f3 nhi\u1ec1u bi\u1ebfn s\u1ed1”. \u0110\u00e1nh gi\u00e1 v\u1ec1 b\u1ed1i c\u1ea3nh v\u0129 m\u00f4, \u00f4ng Tu\u1ea5n nh\u1eadn \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng n\u0103m 2026 \u0111ang ph\u1ea3i v\u01b0\u1ee3t qua nhi\u1ec1u “\u1ed5 g\u00e0” khi chi ph\u00ed v\u1ed1n gia t\u0103ng v\u00e0 thanh kho\u1ea3n h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng ch\u1ecbu s\u1ee9c \u00e9p.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng nhi\u1ec1u \u00e1p l\u1ef1c<\/strong><\/p>\n

Theo TS. L\u00ea Anh Tu\u1ea5n, nh\u1eefng bi\u1ebfn s\u1ed1 \u0111ang t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng t\u1eadp trung \u1edf chi ph\u00ed v\u1ed1n, thanh kho\u1ea3n h\u1ec7 th\u1ed1ng, t\u1ef7 gi\u00e1, l\u1ea1m ph\u00e1t v\u00e0 ch\u00ednh s\u00e1ch to\u00e0n c\u1ea7u.<\/p>\n

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TS. L\u00ea Anh Tu\u1ea5n, T\u1ed5ng gi\u00e1m \u0111\u1ed1c Dragon Capital t\u1ea1i Investor Day ng\u00e0y 13\/8. \u1ea2nh: \u0110\u1ee9c Duy<\/em><\/p>\n<\/figcaption><\/figure>\n

Tr\u01b0\u1edbc h\u1ebft, \u00e1p l\u1ef1c l\u00e3i su\u1ea5t v\u00e0 chi ph\u00ed v\u1ed1n \u0111ang hi\u1ec7n di\u1ec7n \u1edf c\u1ea3 th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf v\u00e0 trong n\u01b0\u1edbc. Tr\u00ean th\u1ecb tr\u01b0\u1eddng qu\u1ed1c t\u1ebf, l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m duy tr\u00ec \u1edf v\u00f9ng 4,6-4,7%, trong khi x\u00e1c su\u1ea5t Fed ti\u1ebfp t\u1ee5c t\u0103ng l\u00e3i su\u1ea5t cu\u1ed1i n\u0103m v\u1eabn \u1edf m\u1ed1c 50-60%. \u1ede trong n\u01b0\u1edbc, m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t huy \u0111\u1ed9ng t\u0103ng \u0111\u00e1ng k\u1ec3, v\u1edbi k\u1ef3 h\u1ea1n 6 th\u00e1ng t\u1ea1i m\u1ed9t s\u1ed1 ng\u00e2n h\u00e0ng l\u00ean t\u1edbi 9,5% v\u00e0 k\u1ef3 h\u1ea1n 12 th\u00e1ng \u0111\u1ea1t 9-9,2%.<\/p>\n

L\u00e3i su\u1ea5t t\u0103ng c\u0169ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ng\u00e0nh b\u1ea5t \u0111\u1ed9ng s\u1ea3n khi t\u1ef7 l\u1ec7 ng\u01b0\u1eddi vay tr\u1ea3 tr\u01b0\u1edbc kho\u1ea3n vay t\u0103ng t\u1eeb kho\u1ea3ng 10-13% l\u00ean 20%, c\u00f2n gi\u1ea3i ng\u00e2n cho vay mua nh\u00e0 gi\u1ea3m \u0111\u00e1ng k\u1ec3. Th\u1ecb tr\u01b0\u1eddng bu\u1ed9c ph\u1ea3i chuy\u1ec3n sang b\u00e0i to\u00e1n ch\u1ecdn l\u1ecdc t\u00e0i s\u1ea3n, thay v\u00ec mua d\u00e0n tr\u1ea3i nh\u01b0 tr\u01b0\u1edbc \u0111\u00e2y.<\/p>\n

B\u00ean c\u1ea1nh chi ph\u00ed v\u1ed1n, s\u1ee9c \u00e9p thanh kho\u1ea3n c\u0169ng l\u00e0 m\u1ed9t v\u1ea5n \u0111\u1ec1 \u0111\u01b0\u1ee3c Dragon Capital l\u01b0u \u00fd. Nhu c\u1ea7u v\u1ed1n cho m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng 10% m\u1ed7i n\u0103m trong 5 n\u0103m t\u1edbi \u01b0\u1edbc t\u00ednh kho\u1ea3ng 1.460 t\u1ef7 USD, trong \u0111\u00f3 ri\u00eang khu v\u1ef1c t\u01b0 nh\u00e2n c\u1ea7n 776 t\u1ef7 USD. Quy m\u00f4 t\u00edn d\u1ee5ng hi\u1ec7n cao h\u01a1n huy \u0111\u1ed9ng g\u1ea7n 90 t\u1ef7 USD, t\u1ea1o th\u00eam \u00e1p l\u1ef1c l\u00ean ngu\u1ed3n v\u1ed1n h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng.<\/p>\n

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Dragon Capital ph\u00e2n t\u00edch ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng – huy \u0111\u1ed9ng. Ngu\u1ed3n: Dragon Capital<\/em><\/p>\n<\/figcaption><\/figure>\n

D\u00f9 chi ph\u00ed v\u1ed1n t\u0103ng, m\u1ed9t s\u1ed1 t\u00edn hi\u1ec7u t\u1eeb t\u1ef7 gi\u00e1 v\u00e0 l\u1ea1m ph\u00e1t v\u1eabn mang l\u1ea1i \u0111i\u1ec3m t\u00edch c\u1ef1c. L\u1ea1m ph\u00e1t hi\u1ec7u ch\u1ec9nh m\u00f9a v\u1ee5 v\u1eabn duy tr\u00ec \u1edf m\u1ee9c an to\u00e0n 3,4-3,5%.<\/p>\n

T\u1eeb nh\u1eefng bi\u1ebfn s\u1ed1 tr\u00ean, TS. L\u00ea Anh Tu\u1ea5n l\u01b0u \u00fd r\u1eb1ng vi\u1ec7c nh\u00ecn \u0111\u00fang doanh nghi\u1ec7p t\u0103ng tr\u01b0\u1edfng t\u1ed1t v\u00e0 \u0111\u1ecbnh gi\u00e1 r\u1ebb v\u1eabn ch\u01b0a \u0111\u1ee7 n\u1ebfu nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ecdn sai th\u1eddi \u0111i\u1ec3m ho\u1eb7c l\u1ea1m d\u1ee5ng \u0111\u00f2n b\u1ea9y. \u00d4ng d\u1eabn ch\u1ee9ng tr\u01b0\u1eddng h\u1ee3p nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i H\u00e0n Qu\u1ed1c d\u00f9 d\u1ef1 b\u00e1o ch\u00ednh x\u00e1c l\u1ee3i nhu\u1eadn SK Hynix t\u0103ng g\u1ea7n 500% v\u00e0 mua \u1edf P\/E 8 l\u1ea7n, nh\u01b0ng v\u1eabn b\u1ecb gi\u1ea3i ch\u1ea5p t\u00e0i kho\u1ea3n (margin call) khi c\u1ed5 phi\u1ebfu gi\u1ea3m m\u1ea1nh trong nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh th\u00e1ng 7.<\/p>\n

\u0110i\u1ec3m s\u00e1ng t\u1eeb \u0111\u1ecbnh gi\u00e1 v\u00e0 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn<\/strong><\/p>\n

D\u00f9 th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i m\u1eb7t v\u1edbi nhi\u1ec1u bi\u1ebfn s\u1ed1, b\u1ee9c tranh \u0111\u1ea7u t\u01b0 kh\u00f4ng ho\u00e0n to\u00e0n thi\u1ebfu \u0111i\u1ec3m s\u00e1ng. B\u00ean c\u1ea1nh nh\u1eefng \u00e1p l\u1ef1c ng\u1eafn h\u1ea1n, Dragon Capital ch\u1ec9 ra c\u00e1c t\u00edn hi\u1ec7u t\u00edch c\u1ef1c t\u1eeb m\u1eb7t b\u1eb1ng \u0111\u1ecbnh gi\u00e1 v\u00e0 k\u1ebft qu\u1ea3 kinh doanh c\u1ee7a doanh nghi\u1ec7p ni\u00eam y\u1ebft.<\/p>\n

V\u1ec1 \u0111\u1ecbnh gi\u00e1, P\/E trailing c\u1ee7a VN-Index hi\u1ec7n quanh m\u1ed1c 13,4 l\u1ea7n, m\u1ee9c \u0111\u1ecbnh gi\u00e1 t\u01b0\u01a1ng \u0111\u1ed1i th\u1ea5p so v\u1edbi l\u1ecbch s\u1eed. Tuy nhi\u00ean, \u0111\u00e2y ch\u01b0a ph\u1ea3i c\u01a1 s\u1edf \u0111\u1ec3 gi\u1ea3i ng\u00e2n \u1ed3 \u1ea1t, b\u1edfi di\u1ec5n bi\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu v\u1eabn ph\u1ee5 thu\u1ed9c v\u00e0o chi ph\u00ed v\u1ed1n, ch\u00ednh s\u00e1ch th\u01b0\u01a1ng m\u1ea1i v\u00e0 kh\u1ea3 n\u0103ng duy tr\u00ec t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn.<\/p>\n

Trong qu\u00fd II, l\u1ee3i nhu\u1eadn c\u00e1c doanh nghi\u1ec7p ni\u00eam y\u1ebft \u0111\u1ea1t kho\u1ea3ng 7,6 t\u1ef7 USD, t\u0103ng 46% so v\u1edbi c\u00f9ng k\u1ef3 v\u00e0 cao nh\u1ea5t trong 10 n\u0103m tr\u1edf l\u1ea1i \u0111\u00e2y. Doanh thu thu\u1ea7n \u0111\u1ea1t 48,8 t\u1ef7 USD, t\u0103ng 38% so v\u1edbi c\u00f9ng k\u1ef3, \u0111\u1ea1t m\u1ee9c k\u1ef7 l\u1ee5c. L\u0169y k\u1ebf 6 th\u00e1ng \u0111\u1ea7u n\u0103m, c\u00e1c doanh nghi\u1ec7p \u0111\u00e3 ho\u00e0n th\u00e0nh 59% k\u1ebf ho\u1ea1ch l\u1ee3i nhu\u1eadn c\u1ea3 n\u0103m.<\/p>\n

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Ph\u00e2n t\u00edch v\u1ec1 k\u1ebft qu\u1ea3 l\u1ee3i nhu\u1eadn c\u00e1c doanh nghi\u1ec7p ni\u00eam y\u1ebft. Ngu\u1ed3n: Dragon Capital<\/em><\/p>\n<\/figcaption><\/figure>\n

Nh\u1eefng t\u00edn hi\u1ec7u v\u1ec1 \u0111\u1ecbnh gi\u00e1 v\u00e0 l\u1ee3i nhu\u1eadn t\u1ea1o d\u01b0 \u0111\u1ecba cho th\u1ecb tr\u01b0\u1eddng, nh\u01b0ng \u0111\u1ed3ng th\u1eddi \u0111\u1eb7t ra y\u00eau c\u1ea7u cao h\u01a1n trong vi\u1ec7c l\u1ef1a ch\u1ecdn t\u00e0i s\u1ea3n v\u00e0 ki\u1ec3m so\u00e1t r\u1ee7i ro.<\/p>\n

T\u0103ng ph\u00f2ng th\u1ee7, duy tr\u00ec d\u01b0 \u0111\u1ecba trong qu\u1ea3n tr\u1ecb danh m\u1ee5c<\/strong><\/p>\n

Tr\u01b0\u1edbc s\u1ef1 ph\u00e2n h\u00f3a gi\u1eefa c\u00e1c nh\u00f3m ng\u00e0nh, \u0111\u1ed9i ng\u0169 qu\u1ea3n l\u00fd qu\u1ef9 Dragon Capital \u0111\u00e3 ch\u1ee7 \u0111\u1ed9ng t\u00e1i c\u01a1 c\u1ea5u danh m\u1ee5c nh\u1eb1m ki\u1ec3m so\u00e1t r\u1ee7i ro v\u00e0 duy tr\u00ec d\u01b0 \u0111\u1ecba cho c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p.<\/p>\n

V\u1edbi qu\u1ef9 c\u1ed5 phi\u1ebfu DCDS, \u00f4ng V\u00f5 Nguy\u1ec5n Khoa Tu\u1ea5n, Gi\u00e1m \u0111\u1ed1c Nghi\u1ec7p v\u1ee5 c\u1ea5p cao l\u0129nh v\u1ef1c Ch\u1ee9ng kho\u00e1n cho bi\u1ebft qu\u1ef9 \u0111\u00e3 ch\u1ee7 \u0111\u1ed9ng gi\u1ea3m t\u1ef7 tr\u1ecdng b\u1ea5t \u0111\u1ed9ng s\u1ea3n d\u00e2n c\u01b0 t\u1eeb g\u1ea7n 16% xu\u1ed1ng d\u01b0\u1edbi 6% tr\u01b0\u1edbc \u00e1p l\u1ef1c l\u00e3i su\u1ea5t vay mua nh\u00e0 th\u1ef1c t\u1ebf 14-16%. Qu\u1ef9 \u0111\u1ed3ng th\u1eddi thu h\u1eb9p nh\u00f3m ch\u1ee9ng kho\u00e1n xu\u1ed1ng c\u00f2n kho\u1ea3ng 1\/3 v\u00e0 t\u0103ng nh\u1eb9 nh\u00f3m ng\u00e2n h\u00e0ng.<\/p>\n

\u0110\u00e1ng ch\u00fa \u00fd, DCDS n\u00e2ng t\u1ef7 l\u1ec7 ti\u1ec1n m\u1eb7t l\u00ean 25,2% \u0111\u1ec3 b\u1ea3o v\u1ec7 t\u00e0i s\u1ea3n v\u00e0 ch\u1ee7 \u0111\u1ed9ng d\u01b0 \u0111\u1ecba gi\u1ea3i ng\u00e2n khi th\u1eddi \u0111i\u1ec3m ph\u00f9 h\u1ee3p xu\u1ea5t hi\u1ec7n. X\u00e9t v\u1ec1 d\u00e0i h\u1ea1n, DCDS v\u1eabn ghi nh\u1eadn k\u1ebft qu\u1ea3 t\u00edch c\u1ef1c v\u1edbi t\u0103ng tr\u01b0\u1edfng l\u0169y k\u1ebf 2 n\u0103m t\u1ea1i 31\/7 \u0111\u1ea1t 18,1%, 3 n\u0103m \u0111\u1ea1t 41,7% v\u00e0 m\u1ee9c IRR c\u1ee7a 5 n\u0103m v\u00e0 10 n\u0103m \u0111\u1ec1u v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi VN-Index.<\/p>\n

\u1ede nh\u00f3m qu\u1ef9 tr\u00e1i phi\u1ebfu, \u00f4ng Di\u1ec7p Qu\u1ed1c Khang, Gi\u00e1m \u0111\u1ed1c Nghi\u1ec7p v\u1ee5 c\u1ea5p cao l\u0129nh v\u1ef1c Tr\u00e1i phi\u1ebfu nh\u1ea5n m\u1ea1nh ti\u00eau ch\u00ed \u01b0u ti\u00ean ch\u1ea5t l\u01b0\u1ee3ng t\u00edn d\u1ee5ng. Theo \u0111\u00f3, DCBF v\u00e0 DCIP ph\u00e2n b\u1ed5 tr\u00ean 40% danh m\u1ee5c v\u00e0o nh\u00f3m t\u00e0i ch\u00ednh, g\u1ed3m ng\u00e2n h\u00e0ng, c\u00f4ng ty ch\u1ee9ng kho\u00e1n v\u00e0 ch\u1ee9ng ch\u1ec9 ti\u1ec1n g\u1eedi, \u0111\u1ed3ng th\u1eddi h\u1ea1 t\u1ef7 tr\u1ecdng b\u1ea5t \u0111\u1ed9ng s\u1ea3n xu\u1ed1ng d\u01b0\u1edbi 15%. Ri\u00eang qu\u1ef9 DCIP duy tr\u00ec h\u01a1n 70% danh m\u1ee5c c\u00f3 k\u1ef3 h\u1ea1n d\u01b0\u1edbi m\u1ed9t n\u0103m \u0111\u1ec3 linh ho\u1ea1t t\u00e1i \u0111\u1ea7u t\u01b0 khi m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t bi\u1ebfn \u0111\u1ed9ng.<\/p>\n

T\u1eeb c\u00e1ch qu\u1ea3n tr\u1ecb danh m\u1ee5c, Dragon Capital cho th\u1ea5y chi\u1ebfn l\u01b0\u1ee3c trong giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng kh\u00f4ng ch\u1ec9 n\u1eb1m \u1edf vi\u1ec7c t\u00ecm ki\u1ebfm c\u01a1 h\u1ed9i t\u0103ng tr\u01b0\u1edfng m\u00e0 c\u00f2n \u1edf kh\u1ea3 n\u0103ng b\u1ea3o v\u1ec7 th\u00e0nh qu\u1ea3 \u0111\u1ea7u t\u01b0.<\/p>\n

Gi\u1ea3i ph\u00e1p cho nh\u00e0 \u0111\u1ea7u t\u01b0<\/strong><\/p>\n

V\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n, c\u00e2u h\u1ecfi ti\u1ebfp theo l\u00e0 l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 duy tr\u00ec vi\u1ec7c tham gia th\u1ecb tr\u01b0\u1eddng m\u00e0 kh\u00f4ng ph\u1ee5 thu\u1ed9c qu\u00e1 nhi\u1ec1u v\u00e0o kh\u1ea3 n\u0103ng ch\u1ecdn \u0111\u00fang th\u1eddi \u0111i\u1ec3m. Theo \u00f4ng Tu\u1ea5n, trong b\u1ed1i c\u1ea3nh \u0111\u1ecbnh gi\u00e1 \u0111\u00e3 v\u1ec1 v\u00f9ng th\u1ea5p, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 gi\u1ea3i ng\u00e2n nh\u01b0ng c\u1ea7n ch\u1ecdn l\u1ecdc thay v\u00ec mua tr\u00e0n lan, trong \u0111\u00f3 bao g\u1ed3m c\u1ea3 c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u1ea7u c\u01a1. L\u1ef1a ch\u1ecdn t\u00edch l\u0169y c\u00e1c doanh nghi\u1ec7p c\u00f3 t\u00ednh chi\u1ebfn l\u01b0\u1ee3c d\u00e0i h\u1ea1n c\u00f9ng l\u1ee3i nhu\u1eadn b\u1ec1n v\u1eefng v\u00e0 \u00e1p d\u1ee5ng DCA (\u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3) l\u00e0 ph\u01b0\u01a1ng ph\u00e1p t\u1ed1i \u01b0u.<\/p>\n

C\u0169ng tr\u00ean tinh th\u1ea7n n\u00e0y, 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 chia s\u1ebb nghi\u00ean c\u1ee9u th\u1ef1c ch\u1ee9ng k\u00e9o d\u00e0i 22 n\u0103m (2004-2026) c\u1ee7a Dragon Capital tr\u00ean qu\u1ef9 DCDS, v\u1edbi gi\u1ea3 \u0111\u1ecbnh t\u00edch l\u0169y 10 tri\u1ec7u \u0111\u1ed3ng m\u1ed7i th\u00e1ng.<\/p>\n

Nghi\u00ean c\u1ee9u cho th\u1ea5y nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea3 n\u0103ng “lu\u00f4n mua \u0111\u00fang \u0111\u00e1y” t\u00edch l\u0169y \u0111\u01b0\u1ee3c 11,8 t\u1ef7 \u0111\u1ed3ng, trong khi nh\u00e0 \u0111\u1ea7u t\u01b0 duy tr\u00ec k\u1ef7 lu\u1eadt mua \u0111\u1ecbnh k\u1ef3 h\u00e0ng th\u00e1ng (DCA) t\u00edch l\u0169y \u0111\u01b0\u1ee3c 11,4 t\u1ef7 \u0111\u1ed3ng. M\u1ee9c ch\u00eanh l\u1ec7ch ch\u1ec9 v\u1ecfn v\u1eb9n 2,7%. \u0110\u00e1ng n\u00f3i, kh\u1ea3 n\u0103ng “lu\u00f4n mua \u0111\u00fang \u0111\u00e1y” l\u00e0 r\u1ea5t th\u1ea5p, th\u1eadm ch\u00ed hi\u1ebfm hoi.<\/p>\n

\u0110i\u1ec1u n\u00e0y ch\u1ee9ng minh duy tr\u00ec k\u1ef7 lu\u1eadt DCA gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u1ea3m s\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng m\u00e0 v\u1eabn \u0111\u1ea3m b\u1ea3o hi\u1ec7u su\u1ea5t t\u00e0i s\u1ea3n b\u1ec1n v\u1eefng.<\/p>\n

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Gi\u1ea3 \u0111\u1ecbnh k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 qu\u1ef9 DCDS trong 22 n\u0103m. Ngu\u1ed3n: Dragon Capital<\/em><\/p>\n<\/figcaption><\/figure>\n

Theo Dragon Capital, \u0111i\u1ec1u n\u00e0y ch\u1ee9ng minh duy tr\u00ec k\u1ef7 lu\u1eadt DCA gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u1ea3m s\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng m\u00e0 v\u1eabn \u0111\u1ea3m b\u1ea3o hi\u1ec7u su\u1ea5t t\u00e0i s\u1ea3n b\u1ec1n v\u1eefng. Th\u1ef1c t\u1ebf d\u00f2ng ti\u1ec1n c\u0169ng cho th\u1ea5y, d\u00f9 kh\u1ed1i ngo\u1ea1i b\u00e1n r\u00f2ng, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n t\u00edch s\u1ea3n qua qu\u1ef9 m\u1edf c\u1ed5 phi\u1ebfu v\u1eabn mua r\u00f2ng h\u01a1n 100 tri\u1ec7u USD, trong \u0111\u00f3 Dragon Capital d\u1eabn \u0111\u1ea7u v\u1edbi h\u01a1n 1.000 t\u1ef7 \u0111\u1ed3ng. \u0110\u00e2y ph\u1ea7n l\u1edbn l\u00e0 d\u00f2ng ti\u1ec1n \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 (DCA), duy tr\u00ec \u1ed5n \u0111\u1ecbnh qua c\u00e1c th\u00e1ng b\u1ea5t k\u1ec3 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.<\/p>\n

B\u00ean c\u1ea1nh vi\u1ec7c duy tr\u00ec k\u1ef7 lu\u1eadt t\u00edch s\u1ea3n, l\u1ef1a ch\u1ecdn m\u1ed9t c\u00f4ng c\u1ee5 ph\u00f9 h\u1ee3p c\u0169ng l\u00e0 y\u1ebfu t\u1ed1 quan tr\u1ecdng gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eefng t\u00e2m h\u01a1n tr\u01b0\u1edbc nh\u1eefng nh\u1ecbp bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Theo b\u00e0 L\u01b0\u01a1ng Th\u1ecb M\u1ef9 H\u1ea1nh, trong th\u00e1ng 8 qu\u1ef9 c\u00e2n b\u1eb1ng DCBA s\u1ebd \u0111\u01b0\u1ee3c c\u1ea5p gi\u1ea5y ch\u1ee9ng nh\u1eadn \u0111\u0103ng k\u00fd th\u00e0nh l\u1eadp qu\u1ef9 v\u00e0 ch\u00ednh th\u1ee9c giao d\u1ecbch, kh\u00f4ng ch\u1ec9 ho\u00e0n thi\u1ec7n h\u1ec7 sinh th\u00e1i qu\u1ef9 m\u1edf c\u1ee7a Dragon Capital m\u00e0 c\u00f2n m\u1edf ra l\u1ef1a ch\u1ecdn ph\u00f9 h\u1ee3p cho nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kh\u1ea9u v\u1ecb r\u1ee7i ro t\u1eeb th\u1ea5p \u0111\u1ebfn v\u1eeba ph\u1ea3i, mu\u1ed1n t\u1eebng b\u01b0\u1edbc chuy\u1ec3n d\u1ecbch t\u1eeb ti\u1ebft ki\u1ec7m sang ch\u1ee9ng kho\u00e1n.<\/p>\n

V\u1edbi c\u01a1 c\u1ea5u 60% c\u1ed5 phi\u1ebfu v\u00e0 40% tr\u00e1i phi\u1ebfu, DCBA h\u01b0\u1edbng \u0111\u1ebfn s\u1ef1 c\u00e2n b\u1eb1ng gi\u1eefa t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n v\u00e0 kh\u1ea3 n\u0103ng b\u1ea3o v\u1ec7 danh m\u1ee5c, \u0111\u1ed3ng th\u1eddi \u0111\u1eb7t m\u1ee5c ti\u00eau v\u01b0\u1ee3t ch\u1ec9 s\u1ed1 tham chi\u1ebfu g\u1ed3m 60% VN-Index v\u00e0 40% l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m 12 th\u00e1ng.<\/p>\n

Theo chuy\u00ean gia Dragon Capital, m\u1ed9t n\u0103m nhi\u1ec1u kh\u00f3 kh\u0103n kh\u00f4ng \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i \u0111\u1ee9ng ngo\u00e0i th\u1ecb tr\u01b0\u1eddng. Khi \u0111\u1ecbnh gi\u00e1 tr\u1edf n\u00ean h\u1ea5p d\u1eabn, vi\u1ec7c gi\u1ea3i ng\u00e2n t\u1eebng b\u01b0\u1edbc, l\u1ef1a ch\u1ecdn t\u00e0i s\u1ea3n c\u00f3 ch\u1ea5t l\u01b0\u1ee3ng v\u00e0 gi\u1eef v\u1eefng k\u1ef7 lu\u1eadt \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh k\u1ef3 quan tr\u1ecdng h\u01a1n vi\u1ec7c c\u1ed1 g\u1eafng t\u00ecm \u0111\u00fang th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng t\u1ea1o \u0111\u00e1y.<\/p>\n

Th\u00e1i Anh<\/strong><\/p>\n<\/article>\n

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https:\/\/vnexpress.net\/dragon-capital-giu-nhip-dau-tu-giup-vuot-kho-truoc-nhung-rung-lac-5109759.html<\/p>\n","protected":false},"excerpt":{"rendered":"

Dragon Capital: Gi\u1eef nh\u1ecbp \u0111\u1ea7u t\u01b0 gi\u00fap v\u01b0\u1ee3t kh\u00f3 tr\u01b0\u1edbc nh\u1eefng rung l\u1eafc Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n 2026 ch\u1ee9ng ki\u1ebfn nhi\u1ec1u c\u00fa rung l\u1eafc \u0111\u1ebfn t\u1eeb v\u0129 m\u00f4, \u00e1p l\u1ef1c l\u00e3i su\u1ea5t, \u0111\u00f2i h\u1ecfi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u00f3 ch\u1ecdn l\u1ecdc, t\u00edch l\u0169y \u0111\u1ec1u \u0111\u1eb7n, theo T\u1ed5ng gi\u00e1m \u0111\u1ed1c Dragon Capital. Th\u00f4ng tin do TS.<\/p>\n","protected":false},"author":1,"featured_media":19652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-19651","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\/19651","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=19651"}],"version-history":[{"count":0,"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/posts\/19651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=\/wp\/v2\/media\/19652"}],"wp:attachment":[{"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/useful.vn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}