Ways to invest in stocks
Ways to invest in stocks
Before we start a new lesson, let's review what we have learned over the last chapter.
在我们开始新一课之前，让我们复习一下上一章所学的内容。
Investing in stocks could be profitable. And the key driver of stock returns relies on the company's growth.
投资股票可能有利可图。而股票回报的关键驱动因素依赖于公司的增长。
There are hundreds of thousands of stocks in the markets, which make it important to invest in smart ways.
市场上有数十万只股票，这使得以明智的方式进行投资变得重要。
Which one should I pick and when is a good time to buy/sell?
我应该选哪一个，什么时候是买进/卖出的好时机？
In fact, we can get answers from the investing philosophies of three great investors- Warren Buffett, William Gann and John Bogle.
事实上，我们可以从沃伦·巴菲特(Warren Buffett)、威廉·甘恩(William Gann)和约翰·博格尔(John Bogle)这三位伟大投资者的投资哲学中找到答案。
They are known as the most successful investors, who have inspired their followers worldwide.
他们被认为是最成功的投资者，激励了他们在世界各地的追随者。
Many of us are familiar with their investing styles, or more precisely, strategies.
我们很多人都熟悉他们的投资风格，或者更准确地说，他们的策略。
They are the most typical representatives of their types, that is Value Investing, Technical Analysis and Passive Investing respectively.
它们分别是价值投资、技术分析和被动投资的最典型代表。
Warren Buffett is one of the most respected value investors.
沃伦·巴菲特(Warren Buffett)是最受尊敬的价值投资者之一。
He prefers to buy undervalued stocks and focuses on the company's fundamentals and intrinsic value.
他更喜欢购买被低估的股票，关注公司的基本面和内在价值。
This investment school is also called fundamental analysis.
这个投资学派也叫基本面分析。
If a stock trades below its intrinsic value, it is considered undervalued.
如果一只股票的交易价格低于其内在价值，它就被认为被低估了。
This offers an opportunity for you to profit by buying stocks at discounted prices.
这为你提供了一个以折扣价买入股票获利的机会。
That's why value investors are also called bargain shoppers.
这就是为什么价值投资者也被称为便宜货购物者。
It's tempting to discover an undervalued investment.
人们很容易发现一项被低估的投资。
However, as the information about companies is more public and accessible, prices of good companies normally represent their values.
然而，由于有关公司的信息更加公开和容易获得，优秀公司的价格通常代表着它们的价值。
Buffett's trusted partner, Charlie Munger once said "A great business at a fair price is superior to a fair business at a great price."
巴菲特值得信赖的合作伙伴查理·芒格(Charlie Munger)曾说过：“价格公道的好生意胜过价格公道的好生意。”
Therefore, value investors tend to look for great companies at reasonable prices, instead of sticking to cheap stocks.
因此，价值投资者倾向于以合理的价格寻找伟大的公司，而不是坚持购买廉价股票。
How to become a value investor?
如何成为价值投资者？
First and foremost, focus on fundamentals, which include business model, competitive advantages and growth potential.
首先，关注基本面，包括商业模式、竞争优势和增长潜力。
It's not over yet.
还没结束呢。
Valuation matters a lot.
估值非常重要。
For example, $Apple(AAPL.US)$ is deemed as one of the greatest companies in the world.
例如,$苹果(AAPL.US)$被认为是世界上最伟大的公司之一。
Does it make sense that we can buy it without hesitation?
我们可以毫不犹豫地买下它，这有意义吗？
Definitely no.
当然不是。
Still remember what Munger told us? For even great companies, we should also buy them at fair prices.
还记得芒格跟我们说的话吗？即使是伟大的公司，我们也应该以公平的价格收购它们。
There are many ways to value a company.
评估一家公司的方法有很多种。
PE and PB ratios are popular metrics used in company valuation. They will be explained in detail in the following chapters.
市盈率和市盈率是用于公司估值的常用指标。它们将在接下来的章节中详细说明。
When talking about investment strategies, you won't skip over technical analysis.
当谈论投资策略时，你不会跳过技术分析。
Unlike fundamental analysis, it focuses on reading charts.
与基本面分析不同，它专注于阅读图表。
Technical analysts believe that the future performance of a stock can be predicted by analyzing past trading activity and price changes.
技术分析师认为，通过分析过去的交易活动和价格变化，可以预测一只股票的未来表现。
Therefore, they like to discover trading opportunities in price trends and patterns.
因此，他们喜欢从价格走势和模式中发现交易机会。
Technical analysis is used to improve timing the market effectively, which can help you make a decision on when to buy, sell or hold cash.
技术分析被用来有效地改善市场的时机，这可以帮助你决定何时买入、卖出或持有现金。
To become a technician, you are expected to master three skills: reading price charts, understanding support & resistance, and identifying market trends.
要成为一名技术人员，你需要掌握三项技能：阅读价格图表，了解支撑位和阻力位，以及识别市场趋势。
Last but not least, it's about passive investing.
最后但并非最不重要的一点是，这是关于被动投资的。
John Bogle, the grandfather of passive investing, believes that it is so hard to beat the market that we should just buy the whole market to get an average return.
被动投资鼻祖约翰·博格尔认为，打败市场太难了，我们应该买下整个市场才能获得平均回报。
Simply put, passive investing is a very friendly way for most investors, especially beginners.
简而言之，被动投资对大多数投资者，尤其是初学者来说，是一种非常友好的方式。
You don't have to spend much time on doing company researches or analyzing complex price changes.
你不必花太多时间做公司调查或分析复杂的价格变化。
To sum up, we have introduced three ways to invest in stocks.
综上所述，我们介绍了三种股票投资方式。
How to apply them practically?
如何在实践中运用它们呢？
We will go through it in the following chapters.
我们将在接下来的章节中详细介绍这一点。
For more investment knowledge and trends, welcome to Courses on the Community.
欲了解更多投资知识和趋势，欢迎访问课程关于社区。
