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“To be a great investor, you must have an approach, and you have to stick to it, despite the times when it’s not working.” -Marks



His skill is investing, but his secret is time.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets,
amazon.com
Volatility是春药、更是毒药
很多新手进入美股的第一件事儿,买美股大盘SPY和QQQ。持有一段时间之后,发现赚不了几个钱,于是开始寻找那些单日涨了10%、20%甚至翻了一倍的股票,从此开启了跌宕起伏的炒股亏钱之路。
可能对于新人来说,单日翻10%,看起来是一个短期就能致富的捷径,它的吸引力堪比春药。做一个简单的设想,假设你一年中只交易了10次,每次都all in,每次交易都赚10%,按复利计算,你这一年的收益将是159%。更有些人,看着正股翻的不够多,看到别人一个期权翻几倍甚至十几倍,也跟着玩期权。要是买个末日期权,翻一倍,单日赚的钱比一年工资高,那完全不用工作了啊!有了这种美好的设想,很多人是拒绝不了这个诱惑的,一定会去尝试。
初尝的那几次,靠着运气、夹杂着还保留着的警觉,很... See more
You have to be a student of the market’s history to understand its future. Any time you hear someone say, “It really is different this time,” turn off the TV and go for a walk.
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market P
amazon.com