Ⅲ、锁定获利( Profit lock-in)的投资策略 Ft:(t-1)时刻及以前的最高净值 Vt:t时刻的净值 (1+y) yes t=0 B=V÷(1+y)|t=t+|B=B(1+y1) F 0 =S1(1+kt) Stop V,=B,+S, noIII、锁定获利(Profit Lock-in)的投资策略 Ft :(t-1)时刻及以前的最高净值 Vt :t时刻的净值 Ft = Vt Bt = Bt + T t t t (1 y ) V F t − + − St = St - T t t t (1 y ) V F t − + − yes t=0 Bt =V1÷(1+y1 ) T-t t=t+1 Bt = Bt (1+yt ) yes F0 = V0 St = Vt - Bt St =St (1+kt ) Vt＞Ft t=T Stop Vt =Bt +St no n o