In May 2021, Dogecoin's price crossed 70 cents and reached a valuation of 93 billion dollars.

2021年5月，Dogecoin的價格突破了70美分，估值達到了930億美元。

But that didn't last long.

但這並沒有持續多久。

In the next few months, its valuation dropped to just 27 billion dollars at the time of

在接下來的幾個月裡，其估值下降到只有270億美元。

this video.

這個視頻。

66 billion dollars of wealth was wiped out.

660億美元的財富被抹去了。

The reason why Dogecoin kept rising first to 50 billion dollars, then to 70 and eventually

狗幣之所以不斷上漲，先是500億美元，然後是700億美元，最後是

to over 90 Billion dollars is because on the other side of the equation, there were people

到超過900億美元，是因為在等式的另一邊，有一些人

who paid that much money to buy Dogecoin, at the end of the day, what drives the price

誰付了那麼多錢來購買Dogecoin，在一天結束時，是什麼推動了價格的上漲？

of any asset is demand and supply.

任何資產都是需求和供應。

Enthusiasts believe that Dogecoin will still rise in value and it has a future.

熱心人士認為，Dogecoin仍然會升值，它有一個未來。

Even if it doesn't, it's still not bad for a coin that started as a joke.

即使沒有，對於一個以玩笑開始的硬幣來說，它仍然不壞。

But that's normal in the world of investing.

但這在投資界是很正常的。

You never know for sure what will rise and what won't.

你永遠不知道什麼會上升，什麼不會。

So we all make mistakes, even the world's greatest investors.

所以我們都會犯錯，即使是世界上最偉大的投資者。

In 1993, Buffett bought a shoe company called Dexter Shoes.

1993年，巴菲特購買了一家名為Dexter Shoes的鞋業公司。

Buffett's investment in Dexter Shoes turned into a disaster because he saw a durable competitive

巴菲特在德克斯特鞋業的投資變成了一場災難，因為他看到了一個持久的競爭力

advantage in Dexter that quickly disappeared.

德克斯特的優勢很快就消失了。

Buffett claims that this investment was the worst he has ever made.

巴菲特聲稱，這項投資是他做過的最糟糕的投資。

He lost $3.5 billion on that deal.

他在那筆交易中損失了35億美元。

That's why here in this video, I want to share with you my 5 worst investing mistakes.

這就是為什麼在這個視頻中，我想與你分享我的5個最糟糕的投資錯誤。

In fact, I see a lot of people repeating these mistakes even though they have been in the

事實上，我看到很多人在重複這些錯誤，儘管他們已經在

stock market for some time already.

股市已經有一段時間了。

In my over 7 years of experience in the stock market, here are the 5 investing mistakes

根據我在股市7年多的經驗，以下是5個投資錯誤

you should avoid at all costs if you want to stop losing money and start making money.

如果你想停止虧損並開始賺錢，你應該不惜一切代價避免。

But before we do that, here is a little disclaimer - this is not financial advice, and everything

但在這之前，這裡有一個小小的免責聲明--這不是財務建議，而且一切

that's said in this video is for educational and entertainment purposes.

本視頻中所說的內容是出於教育和娛樂目的。

And now, let's start with the first one.

而現在，讓我們從第一個開始。

1.

1.

Listening to the big guys when I got into the stock market for the first

當我第一次進入股市時，聽了大夥的意見。

time.

時間。

As a beginner, I started reading what the big guys are saying, such as JP Morgan, Citigroup,

作為一個初學者，我開始閱讀那些大人物的言論，如摩根大通、花旗集團。

or wall street in general.

或一般的華爾街。

I thought that since these guys have been in the market for such a long time, they certainly

我想，既然這些人已經在市場上呆了這麼長時間，他們肯定會

know better than me.

比我更清楚。

They are professional investors.

他們是專業投資者。

They have thousands of analysts, economists working for them, so if they are saying that

他們有成千上萬的分析師、經濟學家為他們工作，所以如果他們說的是

this is a safe investment, then they are probably right.

這是一項安全的投資，那麼他們可能是對的。

But the truth is, you should never trust these guys because they are saying that because

但事實是，你永遠不應該相信這些人，因為他們說，因為

it's in their interest, and it might not represent the reality.

這符合他們的利益，而且這可能不代表現實。

In 2004, when the housing market was turning into a bubble, the dean of the Colombian business

2004年，當住房市場變成保麗龍的時候，哥倫比亞商業院長

school Glen Hubbard was paid to coauthor a paper with Willian C. Dudley, Goldman Sachs

學校Glen Hubbard受僱與Willian C. Dudley、Goldman Sachs共同撰寫一篇論文。

Chief Economists, where they praised derivatives (derivative market - has improved the allocation

首席經濟學家，在那裡他們讚揚了衍生品（衍生品市場--已經改善了配置

of capital and risk and were enhancing financial stability) when in reality it was clear that

而在現實中，很明顯的是，資本和風險方面的問題，以及加強金融穩定方面的問題。

derivatives were creating this bubble that sooner or later will burst.

衍生品正在創造這個保麗龍，遲早會破滅。

Even Warren Buffett warned everyone that derivatives are financial weapons of mass distractions.

甚至沃倫-巴菲特也警告大家，衍生品是大規模分散注意力的金融武器。

We made an entire video about it explaining how it works.

我們做了一整個視頻，解釋它是如何工作的。

The link will be in the description.

鏈接將出現在描述中。

But that's just one out of many examples.

但這只是眾多例子中的一個。

Others were paid to say that Iceland's economy is so stable that its housing market will

還有人收錢說，冰島的經濟非常穩定，其住房市場將

forever keep rising, but it was one of the first countries to go bankrupt during the

永遠保持上升趨勢，但它是第一批在經濟衰退期間破產的國家之一。

2008 crash.

2008年的崩潰。

Many people based their investment decisions on what these economists and professionals

許多人的投資決定是基於這些經濟學家和專業人士的意見

said.

說。

Others went so far that the top 5 Lehman Brothers executives destroyed their company just to

還有一些人走得太遠，以至於雷曼兄弟公司的前5名高管摧毀了他們的公司，只是為了

fill their pockets.

填補他們的口袋。

They made over a billion dollars.

他們賺了超過10億美元。

Do you think they care about you?

你認為他們關心你嗎？

So when you want to invest.

是以，當你想投資的時候。

You have to understand the market yourself, never rely on authority.

你必須自己瞭解市場，千萬不要依賴權威。

Never rely on what the professionals are saying.

永遠不要依賴專業人士的說法。

Of course always read their opinions, but at the end of the day, make your decisions

當然，總是閱讀他們的意見，但在一天結束時，做出自己的決定。

based on your best understand of the market.

基於你對市場的最佳理解。

2.

2.

not understanding Debt

不瞭解債務

The stock market is already slightly complicated, but most people can figure out how it works

股票市場已經略顯複雜，但大多數人都能搞清楚它的運作方式

in a relatively short time.

在相對較短的時間內。

But what most beginners don't understand is how much leverage is involved and how it can

但大多數初學者不瞭解的是，其中涉及多少槓桿，以及它如何能夠

impact a particular asset.

影響一個特定的資產。

When you see the news such as traders use a 100 to 1 ratio when trading bitcoin.

當你看到新聞時，如交易者在交易比特幣時使用100比1的比例。

Most beginners don't really pay much attention to such news, but if you don't understand

大多數初學者並不真正關注此類新聞，但如果你不瞭解

that, you should not even invest.

這一點，你甚至不應該投資。

Even if you do your analysis, figure out that this asset is going to double or triple; leverage

即使你做了分析，弄清楚這個資產要翻倍或翻三倍；槓桿作用

can destroy everything.

可以摧毀一切。

The leverage ratio 100 to 1 means traders are borrowing 99K dollars for every 1K dollar

槓桿率100比1意味著交易者每1千美元就會借到9.9萬美元

they put themselves.

他們把自己。

Say I am a trader, and I have just 1k dollars.

假設我是一個交易員，我只有1千美元。

If I make a 10 percent profit, that's 100 dollars, but if I borrow 99K, now I am trading

如果我賺了10%的利潤，那就是100美元，但如果我借了99K，現在我在交易

with 100K, and if I make a 10 percent profit, now that's 10K dollars and not just 100 dollars.

如果我賺了10%的利潤，現在就是1萬美元，而不僅僅是10美元。

But as always, the more profits you can make, the riskier the asset.

但與以往一樣，你能獲得的利潤越多，資產的風險就越大。

But if the bitcoin price drops by 10 percent, which is quite normal for an unstable asset

但是，如果比特幣價格下跌10%，這對不穩定的資產來說是很正常的。

such as crypto.

如密碼學。

Your broker will immediately sell all of your position in order to minimize losses.

你的經紀人會立即賣出你所有的頭寸，以減少損失。

In fact, he will sell them at the lowest price possible to exit your position as soon as

事實上，他將以儘可能低的價格出售，以儘快退出你的頭寸。

possible because you have no money left to trade and if the broker won't be able to get

可能，因為你已經沒有錢來交易了，如果經紀人不能夠得到

his 99K back, you will owe your broker the remaining amount plus interest.

他的9.9萬回來了，你將欠你的經紀人的剩餘金額和利息。

But the question is, how is that going to impact you?

但問題是，這將如何影響你？

If a single trader goes bankrupt, that's not a big deal, but when leverage is widely used

如果單個交易者破產，那不是什麼大事，但當槓桿被廣泛使用時

in that market, then there will be an oversupply of that asset in the market even if the price

在該市場上，那麼該資產在市場上就會出現供過於求的情況，即使價格

slightly drops.

略有下降。

When the supply outweighs the demand, that will further decrease the price which will

當供應超過需求時，這將進一步降低價格，從而使

push more brokers to exist the positions of their clients.

推動更多的經紀人存在他們客戶的位置。

Its like a snowball effect.

它就像一個雪球效應。

Suddenly an asset with a promising technology suddenly goes to zero.

忽然間，一項有前景的技術的資產突然變成了零。

But some of you might say: if it's a profitable asset, there will be some demand for it, or

但你們中的一些人可能會說：如果它是一種有利可圖的資產，就會有一些需求，或

there are a limited number of bitcoins in the market, so there will always be a demand,

市場上的比特幣數量有限，所以總是會有需求。

unlike the fiat currency, there is a promising technology behind.

與法定貨幣不同，背後有一個很有前途的技術。

Which is true, but people said the same thing about the housing market.

這是事實，但人們對住房市場也說過同樣的話。

And a house is the type of asset that you can touch, feel and use.

而房子是那種你可以觸摸、感覺和使用的資產。

In fact there will always be a demand for shelter.

事實上，對住所的需求總是存在的。

It's one of the oldest and most mature markets in history, and yet leverage destroyed it.

這是歷史上最古老、最成熟的市場之一，但槓桿卻摧毀了它。

So before you invest in any asset, find out how much leverage is involved.

是以，在你投資任何資產之前，要弄清楚涉及多少槓桿。

3.

3.

not seeing the big picture

不識大體

When you throw your hard-earned money into the stock market, your heart starts beating

當你把你辛苦賺來的錢投入股市時，你的心臟開始跳動

twice faster when you see the stock price drop.

當你看到股票價格下跌時，速度會加快一倍。

The fact is - daily ups and downs do not matter at all.

事實是--每天的起伏根本就不重要。

They don't even represent how the business is performing on a daily basis.

它們甚至不代表企業的日常表現。

A single rumor can dip the price or raise it.

一個謠言就能使價格下降或上升。

That's how the market works, it moves based on people's perception about the company and

這就是市場的運作方式，它是基於人們對公司的看法而移動的。

its potential future, but as a long-term investor, you should not care about that.

其潛在的未來，但作為一個長期投資者，你不應該關心這些。

Take Tesla, for example, it had moments when the stock price dropped by 20, 30, or even

以特斯拉為例，它曾有過股價下跌20、30，甚至更多的時候

50 percent, but if you take a look at the chart, the stock has increased by almost 18K

50％，但如果你看一下圖表，股票已經增加了近18％。

percent since it went public.

自上市以來的百分比。

The people who saw the big picture understood Tesla's vision, and ignored these dips, and

看到大局的人理解特斯拉的願景，並忽略了這些谷底，而

kept holding their stocks.

繼續持有他們的股票。

Tesla is just one example.

特斯拉只是一個例子。

There are millions of other examples.

還有數以百萬計的其他例子。

Amazon has grown by 192K percent since it went public.

亞馬遜自上市以來已經增長了192K%。

So, before you invest in any company, figure out its strategy and find out where it would

是以，在你投資任何公司之前，要弄清楚它的戰略，並找出它將在哪裡

be in 5, 10, or 15 years and then invest.

是在5年、10年或15年內，然後進行投資。

4.

4.

Not investing in knowledge Most people overestimate themselves.

不投資於知識 大多數人都高估了自己。

They watch a video or two on youtube or read a few blog posts on the internet and imagine

他們在youtube上看了一兩個視頻，或在互聯網上讀了幾篇博客文章，然後想象

themeless investing experts explaining why Dogecoin is more valuable than the US dollar

無主題的投資專家解釋為什麼狗幣比美元更有價值

and that people like Warren Buffett are losers since they haven't invested in Dogecoin yet.

而像沃倫-巴菲特這樣的人是失敗者，因為他們還沒有投資Dogecoin。

A wise man once said: the more you learn the more you find out you don't know.

一位智者曾經說過：你學得越多，就會發現你不知道的越多。

If everything was black and white, then everyone would have earned a fortune from the stock

如果一切是黑白分明的，那麼每個人都會從股票中賺取財富。

market.

市場。

But the reality is, most retail investors lose, and even hedge funds who charge astronomical

但現實是，大多數散戶投資者都會虧損，即使是收取天文數字的對沖基金也是如此。

fees trying to beat the market often don't.

試圖擊敗市場的費用往往不會。

In fact, Warren Buffett bet a million dollars that stashing money in an index fund would

事實上，沃倫-巴菲特賭了一百萬美元，把錢藏在指數基金中會

make you richer than if you entrusted it with hedge fund managers who spend a fortune trying

讓你更富有，而不是把它委託給對沖基金經理，他們花了一大筆錢試圖讓你更富有。

to beat the market.

來戰勝市場。

And guess what, he won the bet!

你猜怎麼著，他贏了賭注!

The information you consume on YouTube or the internet is usually made for entertainment

你在YouTube或互聯網上消費的資訊通常是為娛樂而製作的

purposes because that's how you get the views.

目的，因為這就是你獲得觀點的方式。

It doesn't worth spending so much time and money creating a video when not enough people

當沒有足夠的人時，花這麼多時間和金錢創建一個視頻是不值得的。

watch it, so be careful what to trust and what don't.

觀察它，所以要小心相信什麼，不相信什麼。

Find credible people, people whom you trust and who seem experienced.

尋找可靠的人，即你信任的人和看起來有經驗的人。

Don't hesitate to spend some money on professional courses.

不要猶豫，在專業課程上花一些錢。

Just a little disclaimer, I don't mean fake courses that will teach you to become a millionaire

只是一個小小的免責聲明，我並不是指那些能教你成為百萬富翁的假課程

in 67 steps but rather the ones that actually teach you how the market works, how to analyze

在67個步驟中，而是那些真正教你如何運作市場，如何分析

companies, how to read financial statements, and so on.

公司，如何閱讀財務報表，等等。

Remember, time is your most valuable resource, so don't hesitate to spend on education and

記住，時間是你最寶貴的資源，所以不要猶豫，在教育和

save yourself a lifetime.

拯救你的一生。

5.

5.

Not having a clear plan

沒有一個明確的計劃

Everyone gets into the stock market for one reason - to make money!

每個人進入股市的原因只有一個--賺錢!

That's the obvious reason, but what most people don't determine is what is their end goal,

這是明顯的原因，但大多數人沒有確定的是他們的最終目標是什麼。

what is their investing strategy.

他們的投資策略是什麼。

For example, if you hold index fund stocks, then you should not even follow the stock

例如，如果你持有指數基金股票，那麼你甚至不應該關注股票

market.

市場。

Your goal is to build wealth over a long period.

你的目標是在很長一段時間內積累財富。

But if your strategy is to pick the right company that will dominate a certain sector,

但如果你的策略是挑選合適的公司，使其在某一領域佔據主導地位。

then you should take a completely different approach to invest and focus on entirely different

那麼你就應該採取完全不同的投資方式，把重點放在完全不同的領域。

factors.

因素。

When you don't have that plan before jumping into investing, you tend to make all kinds

當你在跳入投資之前沒有這個計劃，你往往會做出各種

of mistakes.

的錯誤。

You start reacting emotionally to ups and downs, and you make decisions that will damage

你開始對跌宕起伏的情緒做出反應，你做出的決定會破壞

your portfolio overall.

你的投資組合的總體情況。

That's why when you are starting, start with a small amount.

這就是為什麼當你開始時，要從少量開始。

Don't put all of your money into any asset, even index funds.

不要把你所有的錢都投入任何資產，甚至是指數基金。

Once you try a few stocks, you will have a sense of how everything works.

一旦你嘗試了幾隻股票，你就會對一切的運作有一個感覺。

And start slowly building your strategy.

並開始慢慢建立你的戰略。

Otherwise, you will be distracted by all kinds of meme stocks that will drain your bank account,

否則，你會被各種備忘錄股票分散注意力，使你的銀行賬戶流失。

and you won't gain much at the end of the day.

而你在最後也不會有什麼收穫。

And now it's your turn to get your 2 free stock from Webull.

現在輪到你從Webull獲得你的兩個免費股票了。

We bull is a broker that you need to buy stocks, but if you use the link in the description

我們公牛是一個經紀人，你需要購買股票，但如果你使用描述中的鏈接

you will get 2 free stocks when you deposit 100 bucks.

當你存入100美元時，你將得到2支免費的股票。

By the way, what is the worst investing mistake you have ever made.

順便問一下，你所犯過的最糟糕的投資錯誤是什麼。

Let me know in the comment section below.

請在下面的評論區告訴我。

If you have enjoyed this video, you will most definitely enjoy this custom playlist that

如果你喜歡這個視頻，你一定會喜歡這個定製的播放列表，它是

I have created specifically for you that has our most popular videos on .... that can potentially

我專門為你創建了有我們最受歡迎的視頻的....，這有可能是

change your life.

改變你的生活。

And now give this video the thumbs up that it deserves, and make sure to subscribe if

現在給這個視頻豎起應有的大拇指，並確保訂閱，如果

you haven't done that yet.

你還沒有做到這一點。

Thanks for watching and until next.

謝謝你的觀看，直到下一次。