Knowledge Hub
Free Investment Knowledge Hub: Stocks, Options & HK IPO
26 carefully crafted modules covering HK IPO, options strategies, DCA methods, US/Australian stocks, and quantitative investing. Learn, Flashcard, and Quiz modes for every topic.
What is HK IPO Subscription?
IPO subscription (打新) in Hong Kong means applying for shares in a newly listed company before trading begins. It's one of the most popular low-risk strategies for HK investors.
What is HK Grey Market Trading?
Grey market trading occurs the evening before a HK IPO lists, giving investors a preview of likely first-day performance.
HK IPO Subscription: Step-by-Step
HK IPO subscription spans roughly 10 days from filing to listing. Knowing each key date lets you optimize your strategy.
How to Judge If an HK IPO Is Worth Subscribing
Not every IPO pops on day one. Learning to evaluate an IPO's valuation, sector heat, and broker support can dramatically improve your hit rate.
After Getting Allocated: Sell on Day 1 or Hold?
Getting allocated is just the start. The critical decision is: sell immediately on listing day for a quick gain, or hold for long-term upside? Your strategy should depend on valuation, lock-up expiry, and sector outlook.
Options 101: Call vs Put
Call options give the right to BUY shares; Put options give the right to SELL shares. Understanding both is the foundation of all options strategies.
Options Greeks: Delta, Gamma, Theta
Options Greeks measure how sensitive an option's price is to various factors. Delta is the most important: it tells you how much the option price changes per $1 stock move.
Covered Call: Earn Income From Stocks You Own
A covered call lets you earn premium income by selling call options on stocks you already own. It's one of the most popular income-generating strategies — but it caps your upside.
Protective Put: Insurance for Your Stock Position
A protective put is like buying insurance for shares you own. You pay a small premium to guarantee a minimum sell price, limiting losses if the stock crashes.
Options Spreads: Limit Cost, Limit Risk
A spread involves buying and selling options simultaneously. It reduces your premium cost and caps your maximum loss — at the trade-off of also capping your maximum gain.
What is an ETF?
An ETF (Exchange-Traded Fund) trades on exchanges like a stock but holds a basket of assets. It's one of the best tools for diversified, low-cost market exposure.
Dollar-Cost Averaging (DCA) Explained
Dollar-Cost Averaging (DCA) means investing a fixed amount at regular intervals — automatically buying more when prices are low, less when high, smoothing your average cost over time.
Market Order vs Limit Order
Market orders execute immediately at current prices; limit orders only fill at your specified price. Choosing wrong can cost you.
Margin Trading: How Leverage Works & Its Risks
Margin trading means borrowing money from your broker to buy more stock. It amplifies both gains and losses — and brokers will force-close your position (margin call) when losses exceed the threshold.
HK Stock T+2 Settlement Explained
HK stocks use T+2 settlement: sell today, receive cash in 2 business days; buy today, actually own shares in 2 business days. This affects your cash flow and trading strategy.
US Index Investing: Beat Most Pros by Doing Less
Buying a low-cost S&P 500 index fund is one of the most evidence-backed investment strategies for long-term wealth building. It outperforms ~80% of actively managed funds over 15+ years.
US Dividend Investing: Building a Passive Income Stream
Dividend investing means buying stocks that pay regular cash distributions. Over time, reinvesting dividends can account for a large portion of total returns — the "secret" behind S&P 500 long-term compounding.
US Growth Investing: Betting on Future Earnings
Growth investing focuses on companies expanding revenue fast — even if they're not yet profitable. High risk, high reward. Think Nvidia, Tesla, Amazon in their early stages.
Australian Stock Market (ASX) Basics
The ASX is dominated by banks and mining companies — very different from the tech-heavy US market. Understanding its unique characteristics helps you diversify intelligently.
Franking Credits: Australia's Dividend Tax Refund
Franking credits are a unique Australian tax benefit that prevents company dividends from being taxed twice. For low-income investors, they can even generate a tax refund. This is a key reason Australians love high-dividend ASX stocks.
Factor Investing: Rules-Based Stock Selection
Factor investing uses data-driven rules to select stocks with proven characteristics — value, momentum, quality, low volatility. It's the bridge between active stock picking and passive indexing.
Momentum Strategy: Ride the Trend, Exit Before It Breaks
Momentum investing is one of the most robust and extensively documented anomalies in finance. It systematically buys recent winners and sells recent losers — and it works across stocks, bonds, currencies, and commodities.
Value Averaging: The Smarter Cousin of DCA
Value averaging (VA) sets a target portfolio value that grows by a fixed amount each period. You buy more when prices are low and less (or even sell) when prices are high — automatically buying the dip without guessing the bottom.
Lump Sum vs DCA: What the Data Says
If you have $60,000 to invest, should you put it all in today or spread it over 12 months? Vanguard studied this question across 68 years of data — the answer may surprise you.
Enhanced DCA: Buying More on Dips
Standard DCA invests the same amount every period. Enhanced DCA adds a "dip rule": invest extra when the market falls by a set percentage. This captures more shares at low prices without requiring perfect timing.
Portfolio Rebalancing: Sell High, Buy Low on Autopilot
Rebalancing automatically forces you to sell assets that have risen and buy assets that have fallen — the opposite of what emotions tell you to do. It's one of the simplest risk management tools that also boosts long-term returns.