And that's mainly because facebooks stock price dropped from 209 to 174 causing the

而這主要是因為facebooks的股價從209跌到174造成的。

company to lose 120 billion dollars overnight.

公司一夜之間虧損1200億。

Just to comprehend that number, That's more than what some of the biggest US companies

只是為了理解這個數字，這比一些最大的美國公司的收入還要多。

worth such as Starbucks.

值，如星巴克。

In fact, that's even more than the entire GDP of the largest country in Europe, Ukraine.

事實上，這甚至比歐洲最大國家烏克蘭的整個GDP還要多。

However, that wasn't a big a deal for Mark, since he didn't even leave Forbes top 10 billionaires

不過，這對馬克來說並不是什麼大問題，因為他連福布斯十大富豪都沒有離開過

list.

列表：

But you are not Mark and you can't afford to lose that much and never worry because

但你不是馬克，你輸不起那麼多，也不會擔心，因為...

you don't have that kind of money.

你沒有那麼多錢。

In fact, if you even lose a thousand bucks, you probably will have a nightmare.

其實，如果你連一千塊錢都輸了，你可能會做一個噩夢。

So here are the 3 types of companies, that you should never invest in because you are

是以，這裡有3種類型的公司，你永遠不應該投資，因為你是。

almost guaranteed to lose money.

幾乎保證虧損。

such as when startups decide that its time to gain the fruits of their hard work so they

例如，當初創企業決定是時候獲得他們辛勤工作的成果，所以他們

go public and sell and a big chunk of their company to the world.

上市，並將其公司的一大塊賣給世界。

This is the moment you have been waiting since the beginning, finally, you can fly private

這是你自始至終都在等待的時刻，終於，你可以乘坐私人飛機了。

and enjoy the billionaire's life.

並享受億萬富翁的生活。

But that won't happen unless you give this video a thumbs up.

但這不會發生，除非你對這個視頻豎起大拇指。

sounds like an exaggeration As an owner of the company, you understand

聽起來很誇張 作為一個公司的老闆，你明白嗎？

that the bigger the hype around your company, the bigger is going to be the demand for your

你的公司炒作的越大，對你的需求就越大。

stocks, therefore, the more money you are going to raise.

股票，是以，你要籌集的資金越多。

That's why most companies stock price decline after a day or two of going public since that

這也是為什麼大多數公司在上市一兩天後股價下跌的原因，因為這

hype vanishes and people get real about what this company can accomplish.

炒作消失，人們開始真正瞭解這家公司的成就。

Circle with hands

用手圈起來

Facebook went public at 38 per share, however, within the next 2 month, the stock price only

臉書以每股38元的價格上市，然而，在接下來的2個月內，股價只

kept declining to 20 dollars before it took off again.

不斷下降到20元，才又有了起色。

Or take a recent example of LYFT who went public at 78 dollars but then within the next

或者拿最近的例子來說，LYFT以78美元的價格上市，但在接下來的時間裡，他的股票價格就會下降。

2 month it dropped to 51 dollars.

2個月跌到51元。

That's why Warren Buffet never invests in IPOs.

這就是為什麼巴菲特從不投資IPO的原因。

And neither should you if you don't want to lose money.

如果你不想賠錢，也不應該這樣。

Wait till the hype disappears and then make up your mind.

等到炒作消失，再下定決心。

The stock market is as much as unpredictable as it's predictable.

股市是不可預測的，也是可以預測的。

it sounds a bit controversial but if you take a look at the market over a long period, you

這聽起來有點爭議，但如果你看看市場在很長一段時間內，你的

will realize that it follows certain patterns.

會意識到，它遵循一定的規律。

For instance, a dramatic rise is almost always is followed by an even more dramatic fall.

例如，戲劇性的上漲幾乎總是伴隨著更戲劇性的下跌。

Graph It doesn't only happen to individual stocks

圖 並非只發生在個股上

but to the markets in general.

但對廣大市場。

Because a high demand keeps driving the price up to where the company gets overvalued but

因為高需求不斷地推動價格上升到公司被高估的地方，但。

sooner or later, the bubble bursts and the price gets back to what it truly worth if

遲早有一天，保麗龍破滅，價格會回到它真正的價值，如果

not below that because of a snowball effect.

不低於，因為雪球效應。

When Petro Chinas share was dramatically increasing.

當奇納石油的份額在急劇增加。

Warren Buffet, instantly sold off all his shares and didn't wait till it reaches its

巴菲特，瞬間賣掉了所有的股票，沒有等到它達到其

peak although he could have made much more since he knows it's going to crash at any

峰，雖然他可以賺得更多，因為他知道隨時會崩盤。

moment, and it's not going to be fun.

瞬間，就不好玩了。

And that's exactly what happened.

而這正是發生了什麼。

Just remember what happened to bitcoin.

只要記住比特幣的遭遇就可以了。

After reaching its peak, within a few weeks, it lost half of its value.

在達到頂峰後，在幾周內，它就失去了一半的價值。

The lesson is, whenever the price is skyrocketing, it's a bad time to invest.

教訓是，只要價格暴漲，就不是投資的好時機。

In fact, when it happens to the market in general, we get a financial crisis like in

事實上，當它發生在一般市場上時，我們會得到一個像在金融危機。

2008 as it happened to home prices.

2008年，因為它發生在房價上。

you see I am a big fan of Tesla and Elon Musk In general.

你看，我是特斯拉和埃隆-馬斯克的忠實粉絲。

I love the idea, I love the goal behind it, the product just looks awesome.

我喜歡這個想法，我喜歡它背後的目標，產品看起來就很不錯。

And I want to invest in it to be part of it, but from a purely investing perspective, tesla

而我想投資它成為其中的一員，但從純粹的投資角度來看，特斯拉

hasn't been the best investment out there.

一直不是最好的投資。

Because Musk is a genius when it comes to generating hype around his companies and it

因為馬斯克在為自己的公司製造炒作方面是個天才，它

gets me and many others excited about what tesla could possibly accomplish.

讓我和許多人對特斯拉可能取得的成就感到興奮。

But in practice, things get delayed, deadlines are postponed and unexpected problems start

但在實際工作中，事情會被拖延，期限會被延後，意想不到的問題也開始了

pomping out which is absolutely normal.

蓬頭垢面這是絕對正常的。

Which is why the hype disappears and investors lower their expectations so the price naturally

這也是為什麼炒作消失，投資者降低預期，價格自然就會

falls back, and if you have been one of those people invested

落後，如果你一直是這些人中的一個投資

in that hype. you have clearly lost a buck.

炒作中，你顯然已經失去了一塊錢。

So don't let your emotions ruin your reason because your main objective is to make money

所以不要因為你的主要目的是賺錢，而讓你的情緒毀了你的理性

and everything else is secondary.

而其他都是次要的。