Index Investing
从理论到实践
The complete guide to indexes: what an index is, why indexing works, how to design, build and test an index, the products that track it, how to invest for life and the latest trends – ESG, climate-risk, carbon, commodity, housing, derivatives-based, currency and crypto-asset indexes, factor-weighted smart indexes, and the new generation of indexes in Vietnam – with the NXW toolkit to go from an idea to an investor file in minutes.
内容概述
Investors hear index numbers every day – the VN-Index, the S&P 500, the Nikkei 225 – yet few can say what is inside them, who decides, or why two “market” indexes can move in opposite directions on the same day. This book opens the box.
It moves step by step, from theory to practice: the foundations and the mathematics of an index, the theory that explains why indexing works, the craft of index design, building and testing an index in Excel and R, the funds and derivatives built on indexes, how to invest with them – in Vietnam, in Asia and worldwide. A new part on the latest trends covers ESG and climate indexes, climate-risk, weather and catastrophe indexes, carbon markets and carbon indexes, the new generation of commodity indexes, housing and real estate indexes, derivatives-based indexes (the VIX, buy-write and covered-call indexes), currency indexes (the US Dollar Index, effective exchange rates), crypto-asset indexes, factor weighting and smart indexes (fundamental, risk-based and multi-factor), and the new generation of indexes in Vietnam after the market upgrade.
每一章节均以投资者的真实切身疑问切入，以核心要点总结与实战演练作结。在线学习平台更配套了专业术语库、220 道自测题及实操练习。收官部分展现了 NXW 日常使用的核心利器：指数观察台以及在 CCPI 云平台上快速验证新指数创意的全流程。
New – Part VII: 指数前沿趋势与创新格局
Ten new 章节 take the reader to the frontier of indexing: climate and carbon, commodities and housing, derivatives-based, currency and crypto-asset indexes, factor-weighted smart indexes – and the new generation of indexes in Vietnam.
从负面剔除到巴黎协定对齐基准、绿色转型与影响力投资
量化物理气候风险：气温、天气衍生品、巨灾债券与气候风险评级
碳排放定价机制：强制履约与自愿减排市场、碳信用额度及跟踪指数
从标普 GSCI 和彭博商品指数到优化展期、风险溢价与能源转型指数
住宅价格走势、重复销售法、特征价格模型、REITs 指数与不动产代币化
波动率指数、期权策略指数与期货跟踪指数
美元指数、贸易加权有效汇率与外汇量化策略指数
比特币基准、市值加权与上限加权指数、参考汇率与加密货币 ETF
Beyond market cap: fundamental, risk-based, factor-tilted and multi-factor indexes – the new generation
Market upgrade, ESG and carbon – the next indexes for Vietnamese investors
Highlights
投资范畴、样本筛选、权重分配、指数计算、定期再平衡与规则维护：一次掌握，洞悉全球所有指数。
扣除费用前，主动投资者的平均收益等于市场水平；扣除各项费用后，平均收益必然低于市场。
100 invested for 30 years at 7% grows to 740 with a 0.1% fee – but only 498 with a 1.5% fee.
八个工作表、五只股票、一次分红派息、季度再平衡与 1 拆 2 股票拆细，全程手把手演练。
权重分配、股数计算、除数体系、价格与全收益水平、绩效分析指标、单元测试及 Shiny 交互式看板。
Among 1,000 strategies with no edge, the 10 best back-tests show a Sharpe of 1.22 in sample – only 0.43 out of sample (simulated).
胡志明、河内与非上市公众公司市场、VN30 指数、外资持股比例限制、市场升级与被动跟踪资金流。
巴黎对齐与绿色转型指数、性别平等指数（女性 CEO、女性董事会成员）、天气与巨灾债券指数、碳交易市场与碳指数、增强展期商品指数、房价指数与 REITs、VIX 恐慌指数与备兑期权策略指数、美元指数与有效汇率、加密资产指数与 ETF、基本面/风险平价/多因子智能指数，以及面向越南的下一代前沿指数：FTSE 升级、绿色分类目录与试点碳交易市场。
NXW 指数观察台以及依托 CCPI 云平台数分钟内实现从指数创意到专业投资报告的全流程。
核心特色与优势
每一个核心概念均深度剖析并立即付诸实战应用：数学公式、详尽案例演练、实操实验室与执行清单。
本土市场机制、监管法规、税收实践与实操案例，与全球权威实证数据紧密结合。
在 Excel 与 R 语言中亲手构建指数模型，随后在 CCPI 云端平台验证您的投资构想。
以 NXW 旗下八大核心指数作为完整实证案例：设计纲要、编制方法论、精准计算与治理合规机制。
模拟回测数据均明确标识；认知偏差、模型过拟合陷阱以及金融产品误区彻底揭示，毫无保留。
全部 37 个章节均在教育中心转化为系统课程，配备专业词典、互动测评及实操习题。
Contents
视频讲解
本书适合哪些读者？
即将出版 books – NXW Investment Library
Energy, metals and agriculture, futures curves and the roll, where returns come from, hedging and commodity indexes – with a focus on Asia and Vietnam. 22 章节, six 篇章.
汇率形成机制、外汇衍生工具、区块链底层与稳定币、套息交易与对冲策略、加密量化策略与指数、风险防范与骗局识别。全书共 22 章，分 6 大篇。
ESG data and ratings, climate risk, taxonomies, strategies, green bonds, ESG indexes and funds, greenwashing – and how ready Vietnam is – plus the Vietnam ESG Portal. 23 章节, seven 篇章.