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Data:2009-12-12 2:34
I was advocating the value of an investment in long-term investors into the stock market the past nine years, experienced many ups and downs, there are a lot of insights, special recorded here, to share with friends.
Have different strategies in different price points
The stock price in three forms: lie down, standing, high jump. Lie down (price less than the value) reached the position when the whole, standing to go after, even if the moment does not go, but also ready to pull out a commanding presence. There should not lie down to standing. High jump, or that exceed the investment area must be resolutely avoided, which is an iron rule! Because when the stock market crisis, the purchase cost is the risk aversion of the last line of defense. Have the potential to become a giant business, are different, of course, such enterprises can be met, but not impossible to.
Understanding of the stock investment
Concentration of investment, do not sprinkle big net. Selection of 89 stocks, long-term tracking, from selection of three or so to spare to do thoroughly. The simplest and most stupid way to perhaps the most useful way to be good at complex issues simple and confused, rather than the reverse. To understand or easy to understand investment in the stock, for those "trick", "trick" is a "mist flowers" category of stocks, do not touch. Theoretical analysis and practical combination of observation to understand, but sometimes common sense is more reliable than theoretical. I remember like two years ago, I bought in the supermarket once a rice, a main rice trade listed company, and 78 corner a dollar a pound, very terrible, not like a supermarket selling a pound of nine corner. Do not have to read the company statement, do not do other understanding, accordingly, will have their investment value to make the right judgments.
Do the stock market minority
The Italian stock market was always the minority. So successful, must be an independent thinking person who does not drift with the tide. When most people crazy, it is necessary to maintain a bit sober and alert, when most people fear when sufficient courage. Do not Bo news, it is not individual advantages; Do not trust stock analysts, stock analysts mostly non-professionals who leave; not to wallow in curves, it is the theory of teaching people lose money, not the concept of superstition, it is often set traps for individual investors. "People abandon I prefer that people take me to." Consciously to do the stock market minority, away from the crowded and noisy, to endure loneliness and loneliness to live and do homework, Enhancing internal strength. Vision and patience, is a successful long-term investors must have the basic literacy.
Investment philosophy without wavering
Investment philosophy is to invest the soul. What kind of investors hold investment philosophy is to have its thinking, personality, experience and knowledge of the decision. Regardless of what kind of investment philosophy, subjective and objective should be consistent with knowledge and practice uniform, and a consistent, but not to this mountain, looked at the high mountains, frequent change. If you want to "look busy pre-trial花开花落, slow with the sky Yunjuanyunshu" Buffett schooling; If you want to Xianfeng Office, enjoy the endless scenery, school Soros. Can not only learn Buffett an opportunity to learn Soros, both fish and bear's paw relationship.
Do not seek perfection
Investment process is a continuous process of making a mistake. Some mistakes may be sooner or later to be committed, commit today, perhaps tomorrow will fill the important thing is not make a fatal mistake. Even small errors do not want to commit people, maybe we will commit a big mistake. Great for small mistakes, it is already the best investment result. Larger for small mistakes, we can not striving for perfection. Engage in the pursuit of art can be perfect, but also to achieve a perfect state, the investment can not. If a person investment, full of imagination, weaving a dream, and dreams for the benefit of their unremitting efforts, then he has not far away from the failures. The uncertainty of the stock market decided no one perfect. In one period may reach perfection, but the constant pursuit of perfection Finance, in the long run inevitably runs the risk of picking up a pound-foolish, and even sesame neither picked up, but also foolish also take into account their own. In fact, the small mistakes is also a big beauty is only a shortcoming of the beauty of Bale.
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Maintain an appropriate distance from
Stock market, those who stare at computer screens all day, constantly tapping the keyboard, people who inquire about the news everywhere, those who chase sell into tip Tim blood, those who make money when the complacent, lose money when the fear, hysteria, people ... ... the cornerstone of the stock market are doomed. "Does not know the truth about the matter, just because the body in this mountain." All day immersed in the stock market, rather than up close, is a dangerous act. The stock market is a larger venue for human weakness, in other places, people's weaknesses may be hidden, and in the stock market is dominant. The stock market is like Pandora's Box, human weakness is a box in the devil, when you dial in the stock market can not self, these demons will be out of Box entangled with you and make you lose your are not clear about the substance of the problem . So do not indulge in the stock market, and the stock market to maintain an appropriate distance, even if the stocks in hand, we must strive to achieve a mind free from stock.
Learn to give up
I said: "wa is surplus, the Democratic is a new, ranging from too, as many as puzzled." This is telling us not to be corrupt, must be willing to give up. How could I actually get; think greedy will lose. Learn to give up is also a kind of wisdom. In fact, in the capital market Shui Yebie hoping to overflow their pots filled bowl, the fish head fish tail "integration to eat." The correct approach is: pinpoint their own position, eating their own piece of the profit. Own profit glad someone else profits peace of mind. To have a "Stop the Stop when the rest of the profits earned by others to" the dignity and character. Otherwise, they will form lasting bonds and failure.
Patient an opportunity to Calendar
Buffett's value investing philosophy and focus on the portfolio and so are worth learning, but it bought the stock after holding at least five or ten years or ten or more years of practice, at this stage of China's stock market may not be appropriate. Our market environment is very bad, the stock market false stereotypes, especially in the case of the stock can not be fully tradable, much of the information is distorted, coupled with the tremendous addition to the risk of the stock market to five years after the development of the enterprise to make has been very difficult to determine, after a decade or a decade to see things more difficult. In reality, is also a short life-sized. Therefore, so the stock market is no longer a "government dominance," but running entirely according to market rules, the stock has a wide range of investment value, and then be too late, as shareholders, as Buffett. So far, I think good practice is to: face to face great opportunities, we can give it everything, all warehouses reached the long-term holding, to spare the bull market; secondary opportunities, we can band operation, but it has to reduce its profit forecast; small opportunity, they can give; not have a chance, we leave the rest, patiently waiting for the next opportunity for the arrival of a large and medium.
To ensure that funds safety
Slow accumulation of wealth difficult to lose is easy, perhaps overnight. "Paper profits" does not honor the day, it is virtual, there is the possibility of evaporation. To Wujin pocketbook to fund safety first. Do not forget, listed companies and institutional brokerage is being keenly watched in peering up it does! As individual investors, we can not determine the market trend, however, able to determine their own behavior. Would rather miss, do not make mistakes. The winter think of spring, summer, do not forget the winter. Take precautions in order to cope with the arrival of the various crises at any time.
Stock investment is both complex and simple. It complicated, it is because of the many participants in the stock market, involving a wide range of areas, full of uncertainty, no one can defeat it. Stock concentration of life, in order to succeed here, you must carefully go to Wu, with the money Quhuan, with time to boil. It simple, grasp themselves, can achieve success. Of course, this simply is not the "original meaning" on the simple, but "from the physical to the intangible", "From a law to not" the "Road to Jane."
In short, a person investing, if the confused can a complex issue simple, the same time, a simple matter for a long time to do a good job, then he will be eligible in this market stay, the
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