Name: 我希望我在開始時能避免的5個投資錯誤 (5 Investing Mistakes I Wish I Avoided When I Started)
Uploaded: 2021-08-13T17:40:51.000Z
Duration: 11 min 53 s

我希望我在20歲時知道的5個投資錯誤

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。

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。

66 billion dollars of wealth was wiped out.

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？

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.

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。

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

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。

而現在，讓我們從第一個開始。

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。

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。

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

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。

But that's just one out of many examples.

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。

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

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

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.

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

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

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

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

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

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。

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?

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

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。

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。

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我希望我在開始時能避免的5個投資錯誤 (5 Investing Mistakes I Wish I Avoided When I Started)

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