邓普顿之道-投资十六则

目录

• Rules
• ChangeLog

投资十六则是作者¹总结的邓普顿投资法则.

Rules¹²

1. Invest for maximum real total return
2. Invest: don’t trade or speculate
3. Remain flexible and open-minded about types of investment
   • “The fact is there is no one kind of investment that is always best.”
4. Buy low
5. When buying stocks, search for quality among bargain stocks
6. Buy value, not market trends or the economic outlook
7. Diversify your holdings
8. Do your homework or hire wise experts to help you
9. Aggressively monitor your investments
10. Don’t panic
    • Don’t rush to sell the next day.
    • The time to sell is before the crash, not after
    • If you can’t find more attractive stocks, hold on to what you have.
11. Learn from you mistakes
12. Begin with a prayer
    • If you begin with a prayer, you can think more clearly and make fewer mistakes.
13. Outperforming the market is difficult
14. Success is a process of continually seeking answers to new questions
    • An investor who has all the answers doesn’t even understand all the questions
15. There is no free lunch
16. Be positive

好奇, 自信 而不是 自大.

There is not much to add to Sir John’s comments on this: “An investor who has all the answers doesn’t even understand all the questions. A cocksure approach to investing will lead, probably sooner rather than later, to disappointment, if not outright disaster. Even if we can identify an unchanging handful of principles, we cannot apply these rules to an unchanging universe of investments, or an unchanging economic or political environment. Everything is in a constant state of change, and the wise investor recognizes that success is a process of continually seeking answers to new questions.”

“If a particular industry or type of security becomes popular with investors, that popularity will always prove temporary and once lost, won’t return for many years.” It is the nature of the investment business that it has a constant need for new ideas or instruments that it can market, and investors need to be vigilant in order not to fall into the easy trap of following fads.

ChangeLog

@Jeremy Anifacc
2019-06-16

人生苦短, 为欢几何.