money and if you look back at their history, it's clear that they have made some great

錢，如果你回顧他們的歷史，很明顯，他們已經做出了一些偉大的。

investments besides starting the first ever international bank.

除了創辦第一家國際銀行外，還進行投資。

Back in the day when most people didn't understand much about the stock market, this

在大多數人對股市不太瞭解的時候，這個

family, particularly Nathan had a clear idea on how to manipulate the market and cash out

特別是內森，他對如何操縱市場和套現有明確的想法。

at the right time.

在適當的時候。

In fact, his strategies were pretty similar to Warren Buffet's one and if you give it

其實，他的策略和巴菲特的那個策略很相似，如果你給它一個

a closer look, you will realize that they have followed the exact same steps to create

仔細觀察，你會發現他們是按照完全相同的步驟來創造的。

such a fortune.

這樣的財富。

The stock market isn't the most rational game, stock prices do not change base on the

股市並不是最理性的遊戲，股價並不是基於變化的

performance of the companies but rather on peoples perception about their future earnings.

公司的業績，而是人們對其未來收益的看法。

If people believe that a certain commodity will be more valuable in the future, that's

如果人們相信某種商品在未來會更有價值，那就是

where they will bet their money on and the demand will naturally increase the price.

他們會把錢押在哪裡，需求量自然會增加價格。

And vice versa.

反之亦然。

Nathan Rothschild understood that perfectly and committed one of the most audacious moves

內森-羅斯柴爾德完全明白這一點，並做出了最大膽的舉動之一。

in the financial history and made an incredible fortune.

在金融史上，賺了一筆不可思議的財富。

But to understand his strategy we have to look back into history.

但要了解他的策略，我們必須回顧歷史。

After the French revolution, Europe was in chaos, other monarchies were afraid that they

法國大革命後，歐洲一片混亂，其他君主國害怕自己

might end up like Lious 16.

可能最終會像Lius 16一樣。

During this instability, Napoleon rose to power and strengthened his grip.

在這個不穩定的時期，拿破崙崛起，加強了他的控制力。

This instability brought uncertainty and whoever predicted the outcome of these wars correctly

這種不穩定帶來了不確定性，誰能正確預測這些戰爭的結果呢？

have made the right bet on the stock market and ended up with a great fortune.

在股市上下了正確的賭注，最終獲得了巨大的財富。

Because one-way governments would raise money to fight these war was through bonds(IOU).

因為政府為打仗籌集資金的途徑只有一個，就是通過債券(IOU)。

If England would win the war, for example, the price of British bonds would increase,

比如說，如果英國會贏得戰爭，英國債券的價格就會上漲。

and if they lose, the opposite would happen.

而如果他們輸了，就會發生相反的情況。

When Napoleon was defeated and sent to exile, people thought that's the end of Napoleonic

當拿破崙戰敗被流放時，人們以為拿破崙的末日到了。

wars.

戰爭。

However, Napoleon escaped in 1815 and took over France again.

然而，拿破崙在1815年逃跑了，並再次接管了法國。

It was his final chance to take over Europe.

這是他接管歐洲的最後機會。

If he would defeat the British army, he had all the chances to fulfill his dream.

如果他能打敗英軍，他就有機會實現自己的夢想。

Which means the British government wouldn't be able to pay back its debt and that would

這意味著英國政府將無力償還債務，這將是一個很好的選擇

make British bonds less valuable and prices would decrease significantly.

使英國債券的價值降低，價格將大幅下降。

It was a difficult bet because everyone knew how smart Napoleon was.

這是一場艱難的賭局，因為大家都知道拿破崙有多聰明。

At the end of the day, he is one of the greatest generals in history.

說到底，他是歷史上最偉大的將軍之一。

But the battle of Waterloo was going to be the decisive factor about the future of Europe

但滑鐵盧戰役將成為關乎歐洲未來的決定性因素。

and Nathan wouldn't let this go without taking advantage of it.

而內森也不會放過這個機會而不去利用它。

Nathan believed that Napoleon would defeat the British army.

內森相信拿破崙會打敗英軍。

Which means that there will be another series of Napoleonic wars and the British government

這意味著又會有一系列的拿破崙戰爭和英國政府

will need a huge loan to finance it.

將需要鉅額貸款來融資。

So Nathan began buying gold aggressively so that later he would loan them to the British

於是內森開始積極購買黃金，以便日後借給英國人使用

government at an extremely high rate.

政府以極高的比例。

And they will have no choice but to accept it.

而他們將別無選擇，只能接受。

Unfortunately, things went to an absolutely different direction, Napoleon lost the war.

不幸的是，事情的發展方向完全不同，拿破崙輸掉了這場戰爭。

But Nathan made sure that he will receive the news before the government does and he

但內森確保他能比政府更早收到消息，而且他...

made all the arrangements for that to happen.

做了所有的安排，以發生。

In fact, he received the news a full day before the government's official messenger arrived.

事實上，他收到消息的時間比政府的官方使者到達的時間早了整整一天。

He understood that as soon as the government announces victory, British bonds will skyrocket

他明白，只要政府宣佈勝利，英國債券就會暴漲。

because this victory will make Britain the most powerful nation in the world and everyone

因為這場勝利將使英國成為世界上最強大的國家，而每個人

will be willing to buy its bonds.

會願意購買其債券。

So he started spreading rumors that Britain lost the battle.

於是，他開始散佈英國戰敗的謠言。

And some people were afraid to lose their investments and rushed to the market to sell

而有的人怕投資虧損，急忙跑到市場上賣掉了。

their bonds.

他們的債券。

Even without these rumors, no one knew how the war was going to end so you better sell

即使沒有這些傳言，也沒有人知道戰爭會如何結束，所以你最好賣掉它

your bonds now before they lose half of their value the next day when the news of defeat

在你的債券失去一半價值之前，你的債券現在 第二天，當失敗的消息時

will reach the market.

將進入市場。

While Nathan, on the other hand, began buying British bonds heavily.

而內森，則開始大量購買英國債券。

And on the next day, when the government officially announced victory at the battle of Waterloo,

而在第二天，當政府正式宣佈滑鐵盧戰役勝利的時候。

British bonds skyrocketed.

英國債券暴漲。

But Nathan didn't sell his bonds because he knew that since British now the most powerful

但內森沒有賣掉他的債券，因為他知道，由於英國現在是最強大的國家。

nation in Europe, there will be a period of peace and stability which will further increase

在歐洲的國家，將有一個和平與穩定的時期，這將進一步增加。

the bond prices.

債券價格。

And after two years when prices reached their peak, Nathan cashed out and made an incredible

兩年後，當價格達到頂峰時，內森套現了，賺了一筆不可思議的錢。

fortune.

財富。

One of the things he said was: buy when the cannons are firing and sell when trumpets

他說的一句話是：大炮響時買，喇叭響時賣。

are blowing.

正在吹。

Which means when there are chaos and crisis when everyone is afraid to invest, that's

也就是說，當出現混亂和危機的時候，當大家都不敢投資的時候，那就是

when you should jump in and invest, and when there is prosperity and everyone is investing,

什麼時候你應該跳進去投資，什麼時候有繁榮，大家都在投資。

you should cash out.

你應該兌現。

Warren Buffet said something similar: Be fearful when others are ready and greedy when others

巴菲特也說過類似的話：在別人準備好的時候要有恐懼感，在別人貪婪的時候要有恐懼感。

are fearful.

是恐懼的。

Which means pretty much the exact same thing that Nathan said.

這和Nathan說的意思差不多。

There are multiple other examples of great investments which we will cover in next videos,

還有其他多個優秀投資的例子，我們將在接下來的視頻中介紹。

so make sure you are subscribed and your notifications are on.

所以請確保你已經訂閱，並且你的通知已經開啟。

give this video a thumbs up if you have enjoyed it, thanks for watching and I will see you

給這個視頻豎起大拇指，如果你喜歡它，感謝觀看，我會看到你的。

in the next one.

在下一個。