In my view, for most people, the best thing to do is to own the S&P 500 index fund. People will try and sell you other things because there’s more money in it for them if they do.
在我看來,對於大多數人來說,最好的做法是擁有S&P 500指數基金。人們會試圖向你推銷其他產品,因為如果他們這樣做,他們可以賺更多錢。
1.為什麼要選擇被動投資?
I think that the people who buy those index funds, on average, will get better results than the people that buy funds that have higher costs attached to them, because it’s just a matter of math.
我認為購買那些指數基金的人,平均而言,會比購買費用較高的基金的人獲得更好的结果,因為這只是一個數學問題。
Many people confuse patient investing (doing everything to tip the odds in your favour over the long-run) with speculation (the impulse to get rich quick).
很多人將耐心投資(在長期內盡一切努力提高成功機會)與投機(追求快速致富的衝動)混淆。
2.忘記挑選股市的贏家和輸家
The antidote to that kind of mistiming is for an investor to accumulate shares over a long period and never sell when the news is bad and stocks are well off their highs. 那種錯誤的時機的解藥就是投資者在長期内累積股票,並且在壞消息傳出和股票遠離高點時不要賣出。
So I would pick a broad index, but I wouldn’t toss a chunk in at any one time. I would do it over a period of time, because the very nature of index funds is that you are saying, I think America’s business is going to do well over a – reasonably well – over a long period of time, but I don’t know enough to pick the winners and I don’t know enough to pick the winning times.
所以我會選擇一個廣泛的指數,但我不會一次性投入大量資金。我會在一段時間内逐步投資,因為指数基金的本質是你在说,我認為美國的企業在一個相當長的時間内會表現良好,但我不知道足夠多去挑選赢家,也不知道足夠多去挑選赢利時機。
3.不要慌張!
During such scary periods, you should never forget two things: First, widespread fear is your friend as an investor, because it serves up bargain purchases. Second, personal fear is your enemy. It will also be unwarranted. Investors who avoid high and unnecessary costs and simply sit for an extended period with a collection of large, conservatively-financed American businesses will almost certainly do well.
在這樣可怕的時期,你絕不能忘記兩件事:首先,廣泛的恐懼對於投資者來說是朋友,因為它提供了便宜的購買機會。其次,個人的恐懼是你的敵人,而且是毫無根據的。那些避免高昂和不必要成本,只是長期持有一系列大型、保守融資的美國企業的投資者,幾乎肯定會表現出色。