🎓

財商學院

正在載入課程內容...

How To Stay Disciplined With Your Investing Strategy | Market Psychology
🎬 互動字幕 (58段)
0.0s
▶️ 播放中 - 點擊暫停
1x
00:00
there's always going to be somebody out there telling you that they're doing a lot better than you that they invested
總會有人在外面告訴你，他們做得比你好很多，他們投資了
00:05
in the better investments in you that they time the market better than you that their portfolio is a lot better
比你更好的投資標的，他們擇時進場比你精準，他們的投資組合比你好
00:10
than you why does that matter should you get locked into that should you care should you give a hoot about that and
很多，這有什麼好在意的？你應該因此而陷入困境嗎？你應該在乎嗎？你應該對此耿耿於懷嗎？以及
00:16
should you adjust your portfolio based on what other people are telling you [Music]
你應該根據別人的建議來調整你的投資組合嗎？[音樂]
00:25
here's one of my beefs with the investment World there will always be somebody telling you that they are doing
這就是我對投資界不滿的地方之一，總會有人告訴你，他們在投資上
00:30
better than you in the Investments my buddy is sitting in cash while the market sells off my cousin invested in
比你做得更好。我的朋友抱著現金觀望，趁市場回檔；我的表親投資
00:37
Bitcoin made a ton of money my cab driver suggested I invest in cannabis because it's the next big thing those
比特幣賺了一大筆錢；我的計程車司機建議我投資大麻，因為那是下一個熱門標的。那些
00:43
individuals are always going to make you feel as though you're missing out and that they're making money in sectors
人總會讓你覺得自己好像錯過了什麼，他們在你沒投資的領域
00:48
that you're not invested in and if you keep hearing about these Financial wins it's going to drive you crazy if you
賺錢。如果你一直聽到這些理財獲利的消息，你會被逼瘋的。如果你
00:55
keep hearing about them and you're not participating them it's gonna drive you crazy never mind that you don't know
一直聽到這些消息，而你卻沒參與其中，你真的會被逼瘋。更別提你根本不知道
01:00
what that person's goals are their objectives are their risk tolerances their liquidity needs their long-term
那個人的目標是什麼、他們的投資目的、風險承受度、流動性需求、長期
01:06
Horizon their tax situation never mind all that right what you hear is they're in a sector or a stock that
規劃、稅務狀況。更別提所有這些了，對吧？你聽到的是他們在某個你沒參與的產業或股票裡，
01:14
I'm not in they're telling me they're making money and I'm upset I'm livid if that sounds familiar if that sounds that
他們告訴你他們在賺錢，而你卻感到沮喪、憤怒。如果這聽起來很熟悉，如果這
01:20
might be you it might be you dealing with one of those sins called Envy right you're envious of the returns you want
聽起來像是在說你，那你可能正受到名為「嫉妒」的罪惡感所困擾，對吧？你嫉妒別人的報酬率，你想要
01:28
to do as well as others and you want to do it without the risk and you want to do it without sacrificing anything else
像別人一樣賺錢，但又不想承擔風險，而且你希望在不犧牲你個人
01:34
in your personal investment situation so let me push back against that notion right now and let me dispel some of
投資狀況中其他任何東西的情況下做到這一點。所以，讓我現在就反駁這個觀念，並讓我消除一些
01:41
those myths first off your uncle is not always making the right calls most of the time
這些迷思。首先，你的叔叔並非總是做出正確的決定，大多數時候
01:47
whenever you hear about the hot new tip hot new sector hot new investment class it's probably close to being a bubble
當你聽到熱門的新消息、熱門的新產業、熱門的新投資類別時，它可能已經接近泡沫
01:54
that is bursting right they all end up bursting whether it's cannabis or crypto or Tech or anything that's not rooted in
破裂的邊緣了，對吧？它們最終都會破裂，無論是大麻、加密貨幣、科技股，還是任何沒有植根於
02:03
a cash flow or an investment that's a net present value of future earnings or that has a proven lifespan of being
現金流、未來收益的淨現值投資，或是沒有經過驗證的存續壽命的投資。
02:09
profitable will likely blow up at some point okay so you're if you're not buying a company because you truly want
獲利豐厚的投資很可能在某個時點爆掉，所以，如果你不是因為真心想擁有那家公司、
02:16
to own that company and the prospects of that company are optimistic then you're doing it for the wrong
且看好那家公司的前景而買進，那你就是為了錯誤的理由在做這件事，
02:22
reasons and that will likely not end well your buddy doesn't have the Magic Bullet
這很可能不會有好結果。你的朋友並沒有什麼靈丹妙藥，
02:27
they're not running some magic system they haven't figured out a training algorithm that is not real that is BS
他們並不是在運行什麼神奇的系統，他們也沒發現什麼神奇的演算法，那不是真的，那是胡說八道。
02:34
okay if it was true we'd all be billionaires okay what's proven is buying Quality Companies protecting
如果是真的，我們早就都是億萬富翁了。事實證明，真正有效的是買進優質公司、保護
02:41
Capital taking emotion out of the market optimizing your rebalancing making sure you're buying the best risk-adjusted
資本、排除市場情緒的干擾、優化你的再平衡策略、確保你買的是風險調整後
02:48
investment that money could possibly buy and obviously proper prudent planning there is no magic bullet to this okay
錢能買到的最佳投資，以及顯而易見的，妥善審慎的規劃。這其中沒有什麼靈丹妙藥。
02:57
number three your buddy's not telling you about all their losses they're telling you about all their wins why
第三點，你的朋友不會告訴你他們所有的虧損，他們只會告訴你他們所有的獲利。為什麼？
03:02
because they're bragging and there's no one to verify that statement I tell you I made money in one stock I don't need
因為他們在吹噓，而且沒有人能查證這些說法。他們告訴你他們在某支股票賺了錢，但不需要
03:08
to tell you about the losses I had in 9 or 10 or 15 stocks if I were to just tell you about all my wins all my
告訴你他們在另外9檔、10檔或15檔股票上的虧損。如果我只告訴你我所有的獲利、
03:13
doubles and triples well it's a lot of it's a lot better story than to tell you about the losses I've had also so
所有的翻倍和三倍報酬，這會比告訴你我曾經歷的虧損要好聽得多。
03:20
remember there's a natural bias here when people are telling you about their successes in their portfolios if they're
所以記住，當人們告訴你他們投資組合的成功時，這裡面存在一種自然的偏誤。如果他們
03:25
telling you about one specific stock one specific sector or one specific period of performance whether it's three months
只告訴你某一檔特定股票、某個特定板塊或某個特定時期的表現，無論是三個月、
03:32
or six months or one month there's a huge bias there they are selecting what story to tell you remember that
或六個月或一個月，這裡面都有巨大的偏誤。他們正在選擇要告訴你什麼故事。記住這一點。
03:38
number four they can't avoid all losses and neither can you unless you're investing in a completely guaranteed
第四點，他們無法避免所有虧損，你也不行。除非你投資在一個完全有保證的
03:44
portfolio and making almost no returns there will be some periods some sectors some equities some bonds that have
投資組合，且幾乎沒有任何回報，否則總會有一些時期、一些板塊、一些股票、一些債券會出現
03:52
periods where there are losses it's going to happen you cannot avoid that the fact that person is telling you
虧損的時期。這一定會發生，你無法避免。如果有人告訴你
03:57
they've completely figured it out they've figured out the way the system the period the algorithm you know that
他們已經完全搞懂了，他們已經找到了系統、時期或演算法的竅門，你要知道，
04:04
straight up not possible it's not true and finally number five they aren't you and you aren't them you have no idea
這根本不可能，不是真的。最後，第五點，他們不是你，你也不是他們。你完全不知道
04:12
what their risk tolerance is and they have no clue about your risk tolerance your need for cash the different setup
他們的風險承受度是什麼，他們也完全不了解你的風險承受度、你對現金的需求以及不同的配置。
04:19
of your accounts if you're incorporated or not if you have tax problems if you have planning needs if you have estate
不論你是否成立公司、是否有稅務問題、是否有規劃需求、是否有遺產
04:25
requirements and estate needs and resp accounts and resp needs none of that is factored in when an individual is giving
規劃需求與遺產需求，以及RESP帳戶與RESP需求，當某個人只針對
04:33
you one piece of advice on one specific stock or sector it's not real I'm not trying to say that your friends
特定股票或產業給你單一建議時，這些因素完全沒有被納入考量，這不是真實的。我並不是說你的朋友
04:40
and family can't give you good advice they can absolutely give you good advice some of that good advice should be you
和家人不能給你好的建議，他們絕對可以給你好的建議。有些好的建議應該是：
04:46
know focus on earnings focus on defensive Investments make sure you're Diversified make sure you've planned out
專注於獲利、專注於防禦性投資、確保分散投資、確保你已規劃好
04:51
your liquidity needs make sure proper retirement planning is in place plan for your estate needs you know all that is
你的流動性需求、確保完善的退休規劃已到位、為你的遺產需求做規劃，你知道這些都是
04:57
very good advice but that doesn't mean they should be telling you buy X and sell why it's probably not advice you
非常好的建議。但這並不意味著他們應該告訴你「買X賣Y」。這可能不是你
05:03
want to take from a friend a buddy a cab driver or a distant uncle all of them all of your friends your
想從朋友、哥兒們、計程車司機或遠房叔叔那裡聽取的建議。所有那些人——你所有的朋友、
05:10
buddies your your people you're seeing online that are tweeting and talking and tick-tocking about how much money
哥兒們、你在網路上看到的那些人，他們在推特、談論並在TikTok上炫耀他們在特定股票
05:15
they're making in a specific stock or sector they're doing it probably because they
或產業賺了多少錢——他們這麼做很可能是因為
05:20
want the attention probably because they need that in their life because they might have a lot of losses in certain
他們想要引起注意，或許因為他們生活中需要這個，因為他們可能在某些
05:25
things but who knows what we do know is that there's no free lunch and that at the
投資上損失慘重。但谁知道呢？我們確實知道的是：天下沒有白吃的午餐，而且
05:30
end of the day what's important is you being comfortable with your portfolio having a good discussion with your
到頭來，重要的是你對自己的投資組合感到安心，與你的
05:34
advisor and making sure that you've structured a custom portfolio that's good for you
顧問進行良好的討論，並確保你已建立一個適合你的客製化投資組合。
05:39
hopefully that makes sense for you guys be careful of the free advice out there I'm Rob Tatro from robtator.com
希望這對你們來說有意義。小心那些免費的建議。我是Rob Tatro，來自robator.com，
05:46
portfolio manager at CG wealth and the teacher wealth Advisory Group thank you for tuning in don't forget to like
CG Wealth的投資組合經理，也是The Teacher Wealth Advisory Group的一員。感謝收看，別忘了按讚、
05:51
subscribe smash the Bell make sure you're notified when we put out new content and I will see you in the next
訂閱並打開小鈴鐺，確保當我們發布新內容時你能收到通知。我們將在下一支
05:56
video [Music]
影片見。[音樂]

How To Stay Disciplined With Your Investing Strategy | Market Psychology

📝 影片摘要

本單元探討投資心理學，核心在於如何克服因比較而生的負面情緒，並堅守個人投資策略。講者指出，投資人常因聽到他人獲利而感到嫉妒與焦慮，但忽略了每個人的財務目標、風險承受度與稅務狀況皆不同。影片提醒我們，市場上聽到的成功故事往往存在選擇性偏誤（只提獲利、不提虧損），且熱門投資標的常伴隨泡沫風險。真正的長期成功來自於專注於優質公司、保護資本、排除情緒干擾，並與專業顧問制定客製化的投資計畫，而非盲目跟隨他人的建議。

📌 重點整理

  • ✓ 專注自身，勿與他人比較：每個人的投資目標與風險承受度不同，盲目比較只會引發嫉妒與焦慮。
  • ✓ 警惕熱門話題：聽到新興產業或飆股消息時，通常已接近泡沫邊緣，需謹慎評估其真實價值。
  • ✓ 沒有投資聖杯：市場上不存在穩賺不賠的演算法或系統，長期成功來自於紀律與策略。
  • ✓ 選擇性偏誤（Selection Bias）：人們通常只分享獲利經驗，隱藏虧損，因此聽到的成功故事不具參考全貌。
  • ✓ 無法避免虧損：只要是投資，就一定會有亏损的時期與標的，這是市場常態。
  • ✓ 個人化需求至上：他人的建議未考量你的稅務、流動性需求及遺產規劃，不可直接套用。
  • ✓ 區分好壞建議：好的建議是關於資產配置、分散風險與退休規劃，而非具體的「買X賣Y」指令。
  • ✓ 確認投資安心感：最終目標是建立讓自己感到安心的客製化投資組合，並與顧問保持良好溝通。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
投資組合
portfolio
流動性
liquidity
泡沫
bubble
演算法
algorithm
偏誤
bias
分散的
diversified
波動性
volatility
報酬
returns
再平衡
rebalancing
時間範圍
horizon

🔍 自訂查詢

📚 共 10 個重點單字
portfolio /pɔːrtˈfoʊlioʊ/ noun
A collection of investments held by an individual or an institution.
投資組合
📝 例句
"that their portfolio is a lot better than you"
→ 他們的投資組合比你好很多
✨ 延伸例句
"It's important to diversify your portfolio."
→ 分散你的投資組合很重要。
liquidity /lɪˈkwɪdəti/ noun
The availability of liquid assets to an individual or company.
流動性
📝 例句
"their liquidity needs"
→ 他們的流動性需求
✨ 延伸例句
"High liquidity means you can easily convert assets to cash."
→ 高流動性意味著你可以輕易將資產變現。
bubble /ˈbʌbəl/ noun
A period of rapid economic growth followed by a contraction.
泡沫
📝 例句
"it's probably close to being a bubble that is bursting"
→ 它可能已經接近泡沫破裂的邊緣了
✨ 延伸例句
"The housing bubble burst in 2008."
→ 2008年房地產泡沫破裂。
algorithm /ˈælɡəˌrɪðəm/ noun
A process or set of rules to be followed in calculations.
演算法
📝 例句
"they haven't figured out a trading algorithm"
→ 他們沒發現什麼神奇的演算法
✨ 延伸例句
"The algorithm predicts stock trends based on historical data."
→ 該演算法根據歷史數據預測股票趨勢。
bias /ˈbaɪəs/ noun
Inclination or prejudice for or against one person or group.
偏誤；偏見
📝 例句
"there's a natural bias here"
→ 這裡面存在一種自然的偏誤
✨ 延伸例句
"Survivorship bias is common in investment stories."
→ 倖存者偏誤常見於投資故事中。
diversified /daɪˈvɜːrsɪfaɪd/ adjective
Showing a variety of rather than uniformity.
分散的；多元化的
📝 例句
"make sure you're Diversified"
→ 確保分散投資
✨ 延伸例句
"A diversified portfolio reduces risk."
→ 多元化的投資組合能降低風險。
volatility /ˌvɒləˈtɪləti/ noun
The quality of being likely to change suddenly
波動性；不穩定性
📝 例句
"The market is experiencing high volatility."
→ 市場正經歷高度波動。
✨ 延伸例句
"Oil prices are notoriously volatile."
→ 石油價格以波動劇烈而聞名。
returns /rɪˈtɜːrnz/ noun
The profit or yield derived from an investment.
報酬；回報
📝 例句
"you're envious of the returns"
→ 你嫉妒別人的報酬率
✨ 延伸例句
"Investors are looking for higher returns."
→ 投資者正在尋求更高的回報。
rebalancing /riːˈbælənsɪŋ/ verb
The process of realigning the weightings of a portfolio of assets.
再平衡
📝 例句
"optimizing your rebalancing"
→ 優化你的再平衡策略
✨ 延伸例句
"Portfolio rebalancing should be done periodically."
→ 投資組合再平衡應定期進行。
horizon /həˈraɪzən/ noun
The time period for which an investment is held.
時間範圍
📝 例句
"their long-term Horizon"
→ 長期規劃
✨ 延伸例句
"Investors with a long time horizon can take more risks."
→ 時間範圍較長的投資者可以承擔更多風險。
🎯 共 10 題測驗

1 According to the speaker, what is a common reason people feel upset about others' investment success? 根據演講者的說法，人們對他人的投資成功感到沮喪的常見原因是什麼？ According to the speaker, what is a common reason people feel upset about others' investment success?

根據演講者的說法，人們對他人的投資成功感到沮喪的常見原因是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker explicitly states that if you feel upset about others making money in sectors you aren't in, you might be dealing with the sin of Envy.

演講者明確指出，如果你因為別人在你沒投資的領域賺錢而感到沮喪，你可能正受到名為「嫉妒」的罪惡感所困擾。

2 What does the speaker suggest about hot new investment tips like cannabis or crypto? 關於大麻或加密貨幣等熱門新投資建議，演講者提出了什麼看法？ What does the speaker suggest about hot new investment tips like cannabis or crypto?

關於大麻或加密貨幣等熱門新投資建議，演講者提出了什麼看法？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker warns that most hot new tips are probably close to being a bubble that is bursting, especially if they aren't rooted in cash flow.

演講者警告，大多數熱門新建議可能已經接近泡沫破裂的邊緣，特別是那些沒有現金流支撐的投資。

3 Why should you be skeptical when a friend brags about their investment wins? 為什麼當朋友吹噓他們的投資獲利時，你應該保持懷疑？ Why should you be skeptical when a friend brags about their investment wins?

為什麼當朋友吹噓他們的投資獲利時，你應該保持懷疑？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker explains there is a natural bias: people brag about wins but don't tell you about losses in other stocks.

演講者解釋，這裡存在一種自然的偏誤：人們吹噓獲利，但不會告訴你他們在其他股票上的虧損。

4 What is the speaker's view on finding a 'Magic Bullet' or algorithm for investing? 演講者對於尋找投資「聖杯」或演算法的看法是什麼？ What is the speaker's view on finding a 'Magic Bullet' or algorithm for investing?

演講者對於尋找投資「聖杯」或演算法的看法是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker states clearly that there is no magic bullet, system, or algorithm that guarantees success.

演講者明確表示，不存在能保證成功的聖杯、系統或演算法。

5 According to the video, what is a key factor that makes generic investment advice dangerous? 根據影片，是什麼關鍵因素使得通用的投資建議變得危險？ According to the video, what is a key factor that makes generic investment advice dangerous?

根據影片，是什麼關鍵因素使得通用的投資建議變得危險？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker emphasizes that others don't know your risk tolerance, liquidity needs, or tax situation, so their specific advice isn't real for you.

演講者強調，別人不知道你的風險承受度、流動性需求或稅務狀況，因此他們的具體建議對你來說是不切實際的。

6 What is considered 'good advice' according to the speaker? 根據演講者的說法，什麼被視為「好的建議」？ What is considered 'good advice' according to the speaker?

根據演講者的說法，什麼被視為「好的建議」？

✅ 正確！ ❌ 錯誤，正確答案是 B

Good advice includes focusing on earnings, defensive investments, diversification, liquidity planning, and retirement planning.

好的建議包括專注於獲利、防禦性投資、分散投資、流動性規劃以及退休規劃。

7 Why does the speaker compare a 'cab driver' and 'distant uncle' in the video? 演講者在影片中為何要比較「計程車司機」和「遠房叔叔」？ Why does the speaker compare a 'cab driver' and 'distant uncle' in the video?

演講者在影片中為何要比較「計程車司機」和「遠房叔叔」？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker uses these examples to show that random people often give specific stock advice ('buy X sell Y') that you shouldn't necessarily take.

演講者用這些例子來說明，隨機的人常會給出具體的股票建議（「買X賣Y」），而你不應該盲目聽從。

8 What is the ultimate goal of the investment strategy discussed? 影片中討論的投資策略的最終目標是什麼？ What is the ultimate goal of the investment strategy discussed?

影片中討論的投資策略的最終目標是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

The speaker concludes that what is important is you being comfortable with your portfolio and having a custom structure that fits you.

演講者總結道，重要的是你對自己的投資組合感到安心，並擁有一個適合你的客製化結構。

9 What does the speaker say about avoiding all losses? 關於避免所有虧損，演講者說了什麼？ What does the speaker say about avoiding all losses?

關於避免所有虧損，演講者說了什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

The speaker states you cannot avoid all losses unless you invest in a completely guaranteed portfolio that makes almost no returns.

演講者表示，除非你投資在一個完全有保證、幾乎沒有回報的組合，否則你無法避免所有虧損。

10 What should you do to ensure your investment strategy is sound? 為了確保你的投資策略健全，你應該怎麼做？ What should you do to ensure your investment strategy is sound?

為了確保你的投資策略健全，你應該怎麼做？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video concludes by emphasizing the importance of discussing with your advisor and ensuring you have a custom portfolio that fits your needs.

影片結尾強調，重要的是與你的顧問良好溝通，並確保你有一個符合需求的客製化投資組合。

測驗完成！得分： / 10

上一單元 下一單元