卡拉曼:投资的成功是无法计算的

日期:2017-12-23关键词:

1、投资者最大的优势

The single greatest edge an investor can have is a long-term orientation.

投资者能拥有的最大的绝对优势就是长远规划。

2、投资的成功是不可计算的

Investment success cannot be captured in a mathematical equation or a computer program.

投资的成功是无法被数学公式或电脑程序捕捉的。

3、重视风险

Most investors are primarily oriented toward return, how much they can make and pay little attention to risk, how much they can lose.

大多数投资者主要看中的是回报:他们能赚到多少;往往忽略的是风险:他们会失去多少。

4什么是股票市场

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

股票市场是一个循环的故事,一个人类在两个方向上都过度反应的产物。

5、绝对的精准其实不重要

Sometimes buying early on the way down looks like being wrong, but it isn't.

有时候在下跌的过程中提早买入看似是错误的,但实际上不是。

6、表现的好坏是相对的

The cost of performing well in bad times can be relative underperformance in good times.

在不景气的时候表现不错的成本也许相对于蒸蒸日上的时候是表现不佳的。

7、Baupost的业务

If only one word is to be used to describe what Baupost does, that word should be :‘Mispricing’. We look for mispricing due to overreaction.

如果只用一个词来描述Baupost的业务,这个词就是:‘错误定价’。我们从过度反应中寻找错误的定价。

8、等待适合自己的机会

As Graham, Dodd and Buffett have all said, you should always remember that you don't have to swing at every pitch. You can wait for opportunities that fit your criteria and if you don't find them, patiently wait. Deciding not to act is still a decision.

如格拉厄姆,多德和巴菲特所说,你应该一直记住你是不需要在每次投掷的时候击球。你可以等待适合你个人情况的良机,如果你找不到,就耐心等待。决定不付诸行动也是一个决定。

本网站只分享投资理财知识,不做任何投资建议与指导。
文章观点为作者个人看法,不构成投资建议。
大金铺提醒您:市场有风险,投资理财需谨慎!
本文标题:卡拉曼:投资的成功是无法计算的
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