One of the best ETFs on planet Earth is QQQ, which has a 10-year average return of 17.38%.
地球上最好的 ETF 之一是 QQQ，其 10 年平均報酬率為 17.38%。
00:08
VGT has a 10-year average return of 19.6% and VTI has a 10-year average return of 11.15%.
VGT 的 10 年平均報酬率為 19.6%，而 VTI 的 10 年平均報酬率為 11.15%。
00:19
Having those three together in a supercharged portfolio full of heavy hitters would be making you bank with returns like that.
將這三檔組合成一個充滿重磅標的的強力投資組合，這樣的報酬率將會讓你賺大錢。
00:24
On average, between the three, that's like a 15% return.
平均而言，這三檔的報酬率大約是 15%。
00:32
And if you were investing just $500 per month with a return like that, in 25 years, you'd have over $1.3 million dollars off of just investing $500 per month.
To make returns like that, you're going to want to make sure and cut down on any mistakes in ETF investing.
為了達到這樣的報酬率，你必須盡量減少 ETF 投資中的任何錯誤。
00:46
And in this video, I'm going to go over three huge mistakes and how to fix them to be a very successful investor.
在這支影片中，我將探討三個重大錯誤以及如何修正它們，以成為非常成功的投資者。
00:50
The first has to do with what I just started with and that's looking at just total return.
第一個錯誤與我剛才提到的有關，那就是只看總報酬率。
00:56
Here's the thing about looking at just that total return though.
但關於只看總報酬率這件事，情況是這樣的。
01:01
While each one of those ETFs at the beginning of this video were solid ETFs and each one of them had obviously an amazing return, picking only the top ones with the highest returns for your portfolio total may be a huge mistake.
When we look at those first two ETFs, the first one was QQQ.
當我們看前兩檔 ETF 時，第一檔是 QQQ。
01:17
And as you can see here, it's huge in technology.
如你所見，它在科技股的比重很大。
01:22
Over 57% is all technology.
超過 57% 都是科技類股。
01:30
The top 10 holdings are reputable names like Apple, Microsoft, Amazon and Nvidia.
前十大持股都是像 Apple、Microsoft、Amazon 和 Nvidia 這樣的知名企業。
01:36
But when we look at that other ETF, VGT, we can see that it is full of all information technology.
但當我們看另一檔 ETF，VGT 時，我們可以看到它全是資訊科技類股。
01:43
So while QQQ was 57%, this 100% is information technology.
所以雖然 QQQ 是 57%，但這檔是 100% 的資訊科技。
01:50
So you're getting the same thing in two different places.
因此你在兩個地方買到了相同的東西。
01:56
And when we look at the types of companies that are within VGT, we see Apple, Microsoft and Nvidia again, and specifically the percentage of the fund, 40% of this is in Apple and Microsoft.
As far as weight, about 50% is weighted between the two.
就權重而言，兩者之間大約有 50% 的權重是重疊的。
02:17
So this means that you're basically buying the exact same thing or very, very similar to the same thing, just paying for it in two different places.
所以這意味著你基本上是買了完全相同，或非常、非常相似的東西，只是在兩個不同的地方付費而已。
02:22
If you're buying QQQ and it has a high amount of Apple and Microsoft, and then you're buying into VGT who has a super high amount of Apple and this isn't necessarily a huge wrong, but it could be.
And the way some of you are doing it definitely is.
而你們有些人正在操作的方式，絕對是有問題的。
02:38
Now, yes, there's going to obviously be a bunch of overlap between a fund whose big priority is technology, which is QQQ, and then one that's literally called a technology fund, VGT.
Like for me, I really like Apple and Microsoft, and I want a bunch of that in my portfolio.
就像我，我真的很喜歡蘋果和微軟，我希望我的投資組合裡有大量這兩家公司的股票。
03:52
Those are the two biggest companies that we have, and two of the strongest and long term, I see them having competitive advantage.
這是我們現有最大的兩家公司，也是最強大的兩家，從長期來看，我認為它們具有競爭優勢。
03:58
So I want a lot of exposure there.
所以我希望在那裡有很高的曝險。
04:03
So it's not fund overlap that's the problem.
問題不在於基金重疊。
04:07
The problem comes when you don't understand what the overlap means and how it actually affects your portfolio overall.
問題在於當你不了解重疊的意義，以及它實際上如何影響你整體的投資組合。
04:12
Main takeaway from this point number one is that you need to understand that you do have fund overlap if you have it, and then how much of it you actually have.
So in the example that I've gone through so far, we looked at QQQ, VGT, and VTI.
所以在我剛才舉的例子中，我們看了 QQQ、VGT 和 VTI。
04:24
As long as you understand all of the holdings within all of them, and then how much of a percentage you actually own, and which ones are higher weighted than others, that's going to be important for you moving forward, because you should understand that in each one of them, you're buying into Apple.
In each one of them, you're buying into Microsoft and NVIDIA.
在其中每一個基金裡，你都在買入微軟和輝達。
04:36
So then if you're looking to invest in individual companies, and you want to add stock to that ETF portfolio, it's probably not the most beneficial idea for you to add another share of Apple, or another share of Microsoft, because you're already so heavily weighted with what you already have.
But if you do your research, and you just really, really like that company, and you are totally fine having of your total portfolio 50% be Apple, that's not the craziest thing in the world as long as you understand that that does have a little bit higher risk, but the best investor to do it does have a portfolio with a very high amount of just Apple.
So understand what's in your portfolio, understand what fund overlap is, and then make your decision off of that.
所以，了解你的投資組合中有什麼，了解基金重疊是什麼，然後以此做出你的決定。
04:52
The next mistake in number two has to do with diversification as well, but this is one of the biggest mistakes that I definitely see happen all the time.
第二個錯誤與分散投資有關，但這是我經常看到的最大錯誤之一。
04:56
It kind of piggybacks off the first one, because traditionally the way to invest the most optimal way to invest was this idea that you should have very little to know fund overlap whatsoever.
這與第一個錯誤有些關聯，因為傳統上，最優化的投資方式是這種想法：你應該盡量減少甚至沒有基金重疊。
05:01
And so diversification is very, very important.
因此，分散投資非常非常重要。
05:07
And so if you're investing in two things, they need to be totally separate things, or at least that's what they used to say.
所以，如果你投資兩樣東西，它們需要是完全不同的東西，或者至少他們過去是這麼說的。
05:12
And this was the idea of that old three fun portfolio that did work for a while, but nowadays we have an update.
這就是那個曾經奏效的舊三基金投資組合的想法，但如今我們有了更新。
05:17
But anyway, everyone agrees that a portion of your portfolio should be US equities or US stocks.
但總之，大家都同意你的投資組合中應有一部分是美國股票或美國股市。
05:23
And that would be a broad index fund like the S&P 500 or the total US stock market.
那會是一個廣泛的指數基金，例如標普 500 或美國整體股市。
05:27
That's the first part of the three fun portfolio.
這就是三基金投資組合的第一部分。
05:34
Then in the old three fun portfolio, they wanted something that was also stocks, but totally opposite from that first part.
然後，在舊的三基金投資組合中，他們想要一些也是股票的東西，但與第一部分完全相反。
05:39
So if the first part is US stocks, the second portion needs to be non US stocks.
所以，如果第一部分是美國股票，第二部分就需要是非美國股票。
05:45
So just international exposure.
也就是國際曝險。
05:49
Then the third part of that fund is totally different than the first two, because the first two were stocks.
然後，該基金的第三部分與前兩部分完全不同，因為前兩部分都是股票。
05:55
So this third one is not stocks and it's bonds.
所以這個第三部分不是股票，而是債券。
06:02
Now, obviously the problem with this old three fun portfolio is the fact that we've seen the data over the last 20 years.
現在，顯然這個舊三基金投資組合的問題在於，我們已經看到了過去 20 年的數據。
06:07
And it's not so hot for those last two pieces.
而後兩部分的表現並不是那麼亮眼。
06:12
Vx us would be that international ETF.
Vx us 將是那種國際 ETF。
06:17
And over the last 10 years, the return has been about 3.7%.
過去 10 年，報酬率大約是 3.7%。
06:24
And as far as the awful.
至於那糟糕的部分。
06:30
So my goal, just like wise investors and specifically Warren Buffett, is not to be the most diversified investor of all time.
所以我的目標，就像明智的投資者，特別是沃倫·巴菲特，並不是成為有史以來最多元化的投資者。
06:35
You don't get a prize for the most diversification.
你不會因為最多元化而得到獎勵。
06:41
We think diversification as practice generally makes very little sense for anyone that knows what they're doing.
我們認為，多元化在實踐上對任何知道自己在做什麼的人來說通常意義不大。
06:47
Diversification is a protection against ignorance.
多元化是對無知的一種保護。
06:53
I mean, if you want to make sure that nothing bad happens to you relative to the market, you own everything.
我的意思是，如果你想確保相對於市場而言，你不會發生任何不好的事，你就什麼都買。
06:57
There's nothing wrong with that.
這沒有什麼不對。
07:03
I mean, that has a perfectly sound approach for somebody who does not feel they know how to analyze businesses.
我是說，對於那些覺得自己不知道如何分析企業的人來說，這是一個完全合理的方法。
07:17
If you know how to analyze businesses and value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks probably.
如果你知道如何分析企業和評估企業，那麼持有 50 檔、40 檔或甚至 30 檔股票可能是瘋了。
07:23
Because there aren't that many wonderful businesses that are understandable to a single human being in all likelihood.
因為在所有可能性中，並沒有那麼多美好的企業是單一個人可以理解的。
07:28
And to have some super wonderful business and then putting money in number 30 or 35 on your list of attractiveness and forego putting more money into number one just strikes surely in these as madness.
Do I need on 28 stocks in order to have proper diversification?
我需要持有 28 檔股票才能有適當的多元化嗎？
07:40
You don't want to be nonsense.
你不想要做蠢事。
07:45
And the goal should be the best return with the best long-term safety as well.
目標應該是獲得最佳的報酬，同時也要有最佳的長期安全性。
07:50
The goal should be consistency and sustainability.
目標應該是一致性和可持續性。
07:56
My new three fund portfolio is the updated version of that old three fund portfolio and has been absolutely crushing it and will continue to for the foreseeable future in my opinion.
I'll link to this video below and also queue this video up at the end of this current video so you can watch it right away.
我會在下方連結這支影片，也會在這支目前影片的結尾排入這支影片，讓你可以立刻觀看。
08:09
But this last common mistake is by far the biggest.
但這最後一個常見的錯誤，是目前為止最大的一個。
08:16
I just told you about fund overlap and to look out for that and watch your portfolio to make sure you don't have too much or to at least understand what and how much of what you are actually invested in.
I also just said that you should stop worrying about having the most optimally diversified portfolio in the whole entire world and more so be concerned with long-term results.
我也才說過，你不該再擔心是否擁有全世界最優化的分散投資組合，而更應該關注長期的成果。
08:29
So the common mistake I see here is that people start to realize that maybe their portfolio is wrong or it's not the most optimal possible and so they keep changing it up and they keep changing up every month or every couple months based off of something new that they just learned.
But I choose those safe boring dividend companies or SCHD over REITs for me personally.
但對我個人而言，我選擇那些安全、無趣的股息公司或SCHD，而不是REITs。
09:13
So if I were to make a video on my five favorite dividend investments, these types of REITs probably wouldn't make it into that video specifically but it's not because the REITs aren't a good investment and that you shouldn't invest in them.
The biggest mistake anyone could make in this investing world is just to take somebody else's word for their investments or look at their investments, just copy it without doing any extra research yourself and not understand what it is that you're investing in.
You need to understand not only the investment itself but also what your total goal is with your portfolio.
你不仅需要了解投資標的本身，還需要了解你對投資組合的總體目標是什麼。
09:46
My three fun portfolio is the best place to start because especially if you're new to investing or you need to revamp your investment portfolio and get it rebalanced, these three is where 90% of my stock and ETF portfolio lies and gives you all the great things that I talked about in this video, especially a monster long-term return with consistency and safety.
Check out this video now for a more in-depth explanation.
現在就查看這部影片以獲得更深入的解釋。
09:57
For example, REITs are amazing especially for dividend investing and bringing in crazy cash flow and passive income. They bring far more than good solid dividend stocks like Johnson and Johnson or even the best dividend ETF in SCHD. But I choose those safe boring dividend companies
or SCHD over REITs for me personally. So if I were to make a video on my five favorite dividend investments, these types of REITs probably wouldn't make it into that video specifically but it's not because the REITs aren't a good investment and that you shouldn't invest in them. I just leave
them out because I already invest a fair amount of my portfolio in real estate. I have two actual rental properties and that makes up about half of my total portfolio as far as money invested.
So if I were to add REITs or more real estate in that form, that would just overload and increase my risk to be having so much in one sector. The biggest mistake anyone could make in this investing world is just to take somebody else's word for their investments or look at their
investments, just copy it without doing any extra research yourself and not understand what it is that you're investing in. You need to understand not only the investment itself but also what your total goal is with your portfolio. My three fun portfolio is the best place to start because
especially if you're new to investing or you need to revamp your investment portfolio and get it rebalanced, these three is where 90% of my stock and ETF portfolio lies and gives you all the great things that I talked about in this video, especially a monster long-term return with consistency and
