Hello friends, I have come to you with part two of the investor education series.
朋友們好，我為大家帶來了投資者教育系列的第二部分。
00:18
As I had promised, it is a series of five episodes.
如我所承諾的，這是一個共五集的系列。
00:20
You have already seen the first one and I have brought the second series.
大家已經看過第一集，我現在帶來了第二集。
00:25
In this series also, I am going to tell you a very important thing.
在這一系列中，我也要告訴大家一件非常重要的事。
00:29
The purpose, as we had told you the first time itself, is to teach you the very basic concepts in your investing journey so that you
目的，正如我們第一次就告訴大家的，是為了在大家的投資旅程中，教導你們最基礎的概念，好讓你們
00:40
make as few mistakes as possible.
盡可能少犯錯誤。
00:42
Mistakes do happen, but the less mistakes you make, the more it benefits you.
錯誤難免會發生，但犯的錯誤越少，對你們越有利。
00:46
So you must learn this and today we have brought part two.
所以你們必須學習這一點，今天我們帶來了第二部分。
00:49
In this, we are going to teach you today what is the importance of discipline in this entire investing journey that you are going to do in investing, that is, what is discipline in investing?
Discipline is beneficial to you at every turn of life.
紀律在人生的每個轉折點對你都有益。
01:09
If your life is very disciplined, then you must definitely believe that you benefit physically, mentally and financially.
如果你的生活非常有紀律，那麼你必須相信，你在身體、精神和財務上都會受益。
01:18
The same thing is there in investing as well.
投資也是如此。
01:20
I have said this many times in many shows that the stock market is not at all different from our life journey.
我在許多節目中多次說過，股票市場與我們的人生旅程並無二致。
01:27
The better you make your life, the better you will be.
你把自己的生活經營得越好，你也會變得越好。
01:31
You should also treat the share market as clean food, hygienic food, good food, neatness, keeping attention to cleanliness, staying disciplined, you do all this in your personal life, exactly the same thing you
should do in your investing journey too, so today's topic is part two, the importance of discipline in investing, now let's move ahead and try to understand the importance of discipline in investing,
what to do in it, do's and don'ts, basically what you should do in discipline and what you should not do, what to do first, trust your investment and stick to it,
see it is always said in the market that stay in the market for a long time, stay invested in it for a long time, everything is told to you but you do not understand it, if
市場上總是說，要在市場中長期待著，長期投資於其中，所有這些都告訴了你，但你就是不明白，如果
02:23
I explain it to you as a discipline, trust whatever investment you are making, when you buy something, you buy it with confidence, so when
我用紀律來為你解釋，相信你所做的任何投資，當你買東西時，你是帶著信心買的，所以當
02:34
you are investing money somewhere, whether it is in shares, FD, land , wherever you invest, you should have confidence in it and stick to it.
你在某處投資金錢時，無論是股票、定存、土地，無論你投資在哪裡，你都應該對它有信心並堅持下去。
02:46
Stay, invest today, tomorrow your mind changes, day after tomorrow you invest again, then change your mind again.
今天先持有，投資了，明天你又改變主意，後天你又再投資，然後又再改變主意。
02:52
This fickle mind will give you a lot of trouble in your investing journey and will cause you loss.
這種三心二意的心態，會在你的投資旅程中帶來很多麻煩，並導致虧損。
02:56
So trust your investment and stick to it.
所以要信任你的投資並堅持下去。
03:01
I have always been a supporter of the fact that nothing is called long term.
我一直主張，根本沒有所謂的「長期」這回事。
03:07
Many people give knowledge for 15 years, 20 years, 25 years, that is theoretically.
很多人教導說要 15 年、20 年、25 年，那只是理論上的。
03:14
What happens practically, I will tell you in the next journey that how you have to do it further.
實際上會發生什麼事，我會在接下來的旅程告訴你，你接下來該怎麼做。
03:19
But now the basic mantra that you are understanding is that you should make your mind completely blank and try to understand what I am saying, trust the investment and stick to it.
但現在你要理解的基本口訣是，你應該讓大腦完全放空，試著理解我在說什麼，信任你的投資並堅持下去。
03:29
What is the second point, why am I saying this, trust and stick to it.
第二點是什麼，為什麼我要這麼說，信任並堅持下去。
03:36
Do research before investing, not later.
投資前要做研究，不要事後才做。
03:40
Usually, most of the people make the mistake that they buy some shares, put money in some mutual fund, buy some land, buy some flat,
通常，大多數人都會犯一個錯誤，就是買一些股票，把錢投進某些基金，買一些土地，買一些公寓，
03:51
make some FD, invest in some bond, they do not read, do not get information, do not find out about it, take advice from anyone.
辦一些定存，投資一些債券，他們不閱讀，不獲取資訊，不去查證，也不向任何人請教。
04:00
You don't take them, you just have to invest the money, so when you do this, then later you regret it, how do you regret it, you heard about a stock, someone told you that hey this stock is very good and
built a narrative that this is going to happen, you understand that it will grow at 15% CAGR, in 30 years you will have so much money, not that the story of one hen to 10 hens, 10 hens to 1000 hens
starts, so you secretly invest and you feel that no one should know, I should just invest, I will tell everyone later, you invested, on
開始上演，所以你偷偷地投資，覺得不應該讓任何人知道，我只要投資就好，以後再告訴大家，你投資了，在
04:38
the third day you came to know, someone told you that there is a little problem in that company, its management is not good, there is a problem in its balance sheet, or
第三天你得知，有人告訴你那家公司有一點問題，它的管理階層不好，它的資產負債表有問題，或是
04:48
the highway that you bought from there is not coming out, it has been cancelled, now you start regretting, no friend, I made a mistake, I got trapped, friend, what a difficulty, friend, how to do it, now
you get into the habit of regretting later, the biggest reason for this is that you invest They do not do research before investing, they do not find out, they do not study,
你養成了事後後悔的習慣，造成這個情況的最大原因是，他們在投資前不做研究，不去查證，不去研究，
05:09
they do not take information, they do not ask anybody, there is nothing in this world that only you should know, there is a misconception that only I know this so I should invest in it,
why should I tell the public, they secretly invest money on what they hear and will tell you later, everybody makes the same mistake and people trap you, so that is why the first point is to trust your investment and stick to it, do research before investing, only then will you trust it when
You will do research when you know something well, you will understand its business, you will understand its promoter, you will watch two-four videos, you will
你做了研究，當你對某件事很了解，你會理解它的商業模式，你會理解它的發起人，你會看一些影片，你會
05:46
go to its website and get to know about its business, you will talk to someone about it, when you are sure, then invest, there is no use of doing research later, now you are stuck, you
will come out with loss, so do it first and always keep in mind that when you do research first and suppose you find a good company, any instrument and
將會以虧損收場，所以要先做研究，並時刻牢記，當你先做研究，假設你發現了一家好公司、任何投資工具，
06:07
you feel that now you should invest money in it, then when you invest in it with a risk reward of 200 300%, I told you 1 3, so when you are investing with the target of doubling or tripling it, then if it is available for ₹ 100, then if it gets 120 tomorrow, what
difference will it make, your target is 200 300 or you take a smaller target, suppose you take a target of 30% rise and it goes from 100 to 105, even then 25%
So you should not be in such a hurry, you should not jump in immediately, you should first do research, not later, there is no point in research, they say that now when the agriculture has dried up, that is, when the farming has completely dried up, where did it rain, when the agriculture has dried up,
the birds have finished, now there is nothing left in the field, so do not do that, do things on time, do research, the third point is to get into the habit of regular investment, this
is part of discipline, the first part of discipline is that whatever I invest, I will trust and stay firm, I will do research before investing, this is my habit, this is my discipline that I will do research first before investing, the third point is to get into the habit of regular investment,
if you do SIP, then it should be in your habit that you do it every month, if you have not set up auto debit, if you think that I will do it after thinking,
then also do it, whatever you are investing, you should get into the habit of it, when your salary comes, then you should have the habit that on the 1st date the salary is credited, from that, whatever money I
want to invest, I will invest it, it is not that I invested on the 1st, I invested on the 5th, sometimes on the 20th Put discipline, for example , it is said about
投資的金額進行投資，而不是「我1號沒投，5號才投，有時拖到20號」，要落實紀律，舉例來說，
07:51
PPF, which is a public provident fund, that if you invest between 1st to 15th April, you get maximum return because
interest is not added on investments made after 15th and if you invest between 1st April to 15th April, i.e.
15日之後的投資不會加算利息，如果你在4月1日至4月15日之間投資，也就是在
08:07
in the first 15 days of the start of the financial year, you will get investment for the whole year.
財政年度開始的前15天內投資，你就能讓這筆資金運作一整年。
08:11
What is this discipline that you have decided that if I have a PPF account, then I will invest in it every year between 1st to 15th April, whatever amount you want to invest, then get into the habit of investing and that habit should be regular.
What is in the next slide, what to do, how to maintain this discipline, what should be done for discipline, so make a strategy and invest, you
下一張投影片講的是該做什麼、如何維持這種紀律、為了紀律該做些什麼，所以要制定策略並投資，你
08:40
should have a strategy, you should have a style, you should make a strategy and then invest, you should never invest without a strategy, you have no strategy, no plan, no
education, no research, nothing is known, you will get trapped, you should have a strategy as to when to invest and for how long How to pay
知識、沒有研究，什麼都不知道，你會陷入困境，你應該要有策略，決定何時投資、投資多久，以及如何支付，
09:02
is a part of your discipline.
這是你紀律的一部分。
09:05
So make a strategy and review your investment every three years.
所以要制定策略，並每三年檢視一次你的投資。
09:11
Secondly, I told you that I am not at all concerned with theoretical matters of long term.
其次，我跟你說過，我完全不關心長期的理論問題。
09:18
I think there is something called long term.
我認為有一種東西叫做長期。
09:21
All this is useless nonsense.
這些全是無用的廢話。
09:22
Forget it.
忘了它吧。
09:22
There is nothing called long term.
根本沒有長期這回事。
09:24
When I am saying this, many people will get angry that right now you are giving gyaan.
我這麼說，很多人會生氣，覺得我現在是在說教。
09:28
Now you are saying that there is nothing long term.
你現在說沒有長期這回事。
09:31
When I am saying this, it means that your investment journey will be very long.
當我這麼說，意思是你的投資旅程會非常長。
09:35
10 years, 15 years, 20 years, even if it will go on for 30 years.
10年、15年、20年，甚至可能持續30年。
09:40
But every three years, review all your investments.
但每隔三年，要檢視你所有的投資。
09:44
Review every investment.
檢視每一項投資。
09:46
See whether it is running well or not.
看看它運行得好不好。
09:49
Whether it is giving returns or not.
它有沒有帶來回報。
09:52
The companies in which we have invested are doing well or not.
我們投資的公司表現好不好。
09:55
Is their balance sheet okay or not.
它們的資產負債表有沒有問題。
09:56
Is the mutual fund performing well or not?
這檔基金表現好不好？
09:58
If the fund manager of a mutual fund changes twice in three years, then it should be a cause of worry for you.
如果一檔基金的經理人在三年內換了兩次，那你就該擔心了。
10:03
You should check his Sharpe ratio.
你應該檢查他的夏普指數（Sharpe ratio）。
10:05
You should also check how he is taking the standard deviation.
你還應該檢查他如何處理標準差。
10:07
So, every third year for three years, you should review all your investments.
所以，每三年中的第三年，你都應該檢視你所有的投資。
10:14
That investment can be anything; it can be shares, mutual funds, land, house, shop, bond, RBI bond, anything;
那項投資可以是任何東西；它可以是股票、共同基金、土地、房子、店鋪、債券、RBI 債券，任何東西；
10:23
you have to review your investments every three years, that is why I say that There is nothing called long term because the world is changing very fast friends and every three years things change very fast, so review your investment
like you give exams, if you study in school, then is there an annual exam every year or not, why is it done, you are directly taking the 12th exam, you took admission in class one in the first year and directly in class 12, exams are not taken every year
to test whether everything is going right or not, so always make changes and be aware of the changes happening in the country and the world, do not go to sleep, the days of investing and sleeping are gone, they are gone
eight years ago, today I invested and went to sleep for 20 years, those who say invest and go to sleep, they talk a lot of nonsense, you please do not do this, you should
keep information about the country and the world, what is happening where, what is happening around you, what is happening in politics, what is happening in policy, what is happening in the market, what is happening in the economy, what is happening in the US, I am not saying that you should
do very deep research, you should be engaged in this till morning and evening, but a basic Awareness should be there in you, you are a conscious person, so awareness is important that what to do, so
you should keep information about the country and the world, what to do after that is a part of discipline, tie this knot, this is the rule that you must invest 20% of your take home salary,
what is take home salary, suppose your CTC is ₹1 lakh per year, your salary package is 10 lakhs in a year, then provident fund is deducted from everyone's salary,
TDS will be deducted in the beginning in income tax, some other things will be deducted, the salary you get in a month is called take home, so whether you are in a government job, private job
or anywhere, at the end of the month on the 1st or 31st, the salary that is getting credited in your account is called take home salary, that is, this
或在任何地方，在月底 1 號或 31 號，存入你帳戶的薪資稱為實得薪資，也就是說，這筆；
12:24
much money came in your hand, I got this much money in a month, whatever you are getting is not always the same, there is a little up or down of 2-4%,
錢到了你手裡，我一個月拿到了這麼多錢，你拿到的錢並不總是相同的，會有 2-4% 的小幅上下波動；
12:35
20% of that is 1 lakh, so 20,000 is 80,000, so 16,000 that 20% investment rule is a general rule you can invest more than that if your situation is not like that then try to invest
30% I am a firm believer that it should not be less than 20% you can save money by saving on your expenses or any other way but your investment should be 20% if you invest more then
it is even better so firstly do that how will you do it you have to invest before your take home salary what people do the common mistake is that first you spend all your take home salary on 20th or 25th see how much is left, you
got 1 lakh as take home and ₹900 is left let's invest that only this is the bad practice you will never be able to create wealth in life if you make this rule the first and very
important rule of discipline is that as soon as you get your salary 20% of your salary gets invested in anything be it 20% when you invest that 20% the remaining 80% is what you
spend for your expenses thirdly if you don't understand things If you are not able to understand any instrument or something, then
你用來支付開銷的錢。第三，如果你不懂某些東西。如果你無法理解任何投資工具或某件事，那麼；
13:48
as a discipline, you should take advice from someone, take help from someone whom you trust, it should be SEBI registered because nowadays many Tom Dicken Harrys have become advisors,
giving advice on reels, giving advisors on YouTube, I am also saying that do not listen to me either, I do not say at all that you should blindly believe whatever I am saying, do not be blind, analyze me yourself
, if you like what I have said then verify it, so if you get confused in many things, now I am with you all the time, otherwise if there is a SEBI registered advisor in your city, whom you believe, your trusted person,
take advice from him that I want to make this investment, is it right, take a second thought on the advice he gives, verify it and then start, so this is a part of your discipline that how you
bring things into your routine, into your discipline If it is there then you will have to do this, what not to do, it is very important, what not to do, do not tamper with the SIP, if SIP
is going every month, then it should go on the due date, do not tamper with it, do not invest by imitating others, hey, so and so from the neighborhood invested this money, let me also
invest, then I will make the same mistake, you explained in the beginning that first we will do research, if not research then I just imitated others that they did it, uncle had invested like this, uncle had invested like this, hey our friend invested money, don't do this, this definitely
comes under don't do it, don't do it, third is stop looking at the portfolio 10 times a day like a reel Do it like you keep watching reels every day, then you should not do that
you are watching your portfolio open all day, how much has it increased today, today it is up or down, stop this, this is a very wrong habit of yours, I told you that once you invest after thinking carefully, let it lie there, review it after three years,
I am telling you about this investing journey, I am not talking about traders, I am just watching reels again and again, please delete that app, don't watch it, don't open it every day and ask for tips from everyone, if you meet someone walking on the road, hey, what
is feeling good these days, he gave a tip, now if you roam around the whole city, you will get 10 tips, you will find two-four on YouTube, four-six more people will tell you, you will get confused, so don't ask for tips from everyone, your trusted people, your research,
are a trader or an investor, a very important thing Because the behaviour of a trader is different from the strategy of a trader.
交易員還是投資者，這是非常重要的一點，因為交易員的行為與交易員的策略是不同的。
16:32
This is what I am making for investors.
這是為投資者設計的。
16:34
If you are an investor, then you have to follow these rules.
如果你是投資者，那麼你必須遵守這些規則。
16:38
So generally what happens is that people start behaving like traders or like investors.
通常的情況是，人們開始表現得像交易員或像投資者。
16:42
Sometimes a trader, sometimes an investor, sometimes a trader, sometimes an investor.
有時是交易員，有時是投資者，有時是交易員，有時是投資者。
16:45
When you are a trader and get stuck, then you become an investor voluntarily or unwillingly.
當你身為交易員而陷入困境時，你會自願或不情願地變成投資者。
16:52
If you get stuck, you become an investor.
如果你被套牢了，你就變成了投資者。
16:54
Don't do this.
不要這樣做。
16:55
There should be clarity in life about what I am.
生活中必須清楚地知道我是什麼。
16:58
First of all, remember the risk analysis.
首先，記住風險分析。
17:00
Have you done your risk analysis that I am an investor?
作為投資者，你有做好風險分析嗎？
17:03
I have to do it like this.
我必須這樣做。
17:05
Don't become an investor by looking at traders.
不要只看交易者就去當投資者。
17:08
Don't trade by looking at investors.
不要只看投資者就去交易。
17:09
If you get stuck, then you will again become an investor.
如果你陷入困境，你就會再次變成投資者。
17:12
Don't do this.
不要這樣做。
17:12
So always remember what you are, a trader or an investor.
所以要永遠記住你是什麼，是交易者還是投資者。
17:16
Let me quickly recap for you once from the first slide.
讓我從第一張投影片快速為你複習一次。
17:19
What is the importance of discipline in the first slide?
第一張投影片中紀律的重要性是什麼？
17:22
The importance of discipline is what to do.
紀律的重要性在於知道該做什麼。
17:25
What to do, what to do, what to do and what not to do.
該做什麼、該做什麼、該做什麼以及不該做什麼。
17:29
These are four slides.
這些是四張投影片。
17:31
Yes, please try it out and I hope you have learnt a lot from it and I can say with confidence that this is not bookish knowledge, this is the knowledge of experience.
是的，請試試看，希望你從中學到了很多，我可以自信地說，這不是書本上的知識，而是經驗的知識。
17:43
For 25 years I have been in this market, talked to people, seen and learnt, I am telling you that, in essence, if you liked it, then share, like, subscribe and write your comments on what you do not agree with, what you
