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.
在我們開始新一課之前，讓我們複習一下上一章所學的內容。
Investing in stocks could be profitable. And the key driver of stock returns relies on the company's growth.
投資股票可能有利可圖。而股票回報的關鍵驅動因素依賴於公司的增長。
There are hundreds of thousands of stocks in the markets, which make it important to invest in smart ways.
市場上有數十萬只股票，這使得以明智的方式進行投資變得重要。
Which one should I pick and when is a good time to buy/sell?
我應該選哪一個，什麼時候是買進/賣出的好時機？
In fact, we can get answers from the investing philosophies of three great investors- Warren Buffett, William Gann and John Bogle.
事實上，我們可以從沃倫·巴菲特(Warren Buffett)、威廉·甘恩(William Gann)和約翰·博格爾(John Bogle)這三位偉大投資者的投資哲學中找到答案。
They are known as the most successful investors, who have inspired their followers worldwide.
他們被認為是最成功的投資者，激勵了他們在世界各地的追隨者。
Many of us are familiar with their investing styles, or more precisely, strategies.
我們很多人都熟悉他們的投資風格，或者更準確地説，他們的策略。
They are the most typical representatives of their types, that is Value Investing, Technical Analysis and Passive Investing respectively.
它們分別是價值投資、技術分析和被動投資的最典型代表。
Warren Buffett is one of the most respected value investors.
沃倫·巴菲特(Warren Buffett)是最受尊敬的價值投資者之一。
He prefers to buy undervalued stocks and focuses on the company's fundamentals and intrinsic value.
他更喜歡購買被低估的股票，關注公司的基本面和內在價值。
This investment school is also called fundamental analysis.
這個投資學派也叫基本面分析。
If a stock trades below its intrinsic value, it is considered undervalued.
如果一隻股票的交易價格低於其內在價值，它就被認為被低估了。
This offers an opportunity for you to profit by buying stocks at discounted prices.
這為你提供了一個以折扣價買入股票獲利的機會。
That's why value investors are also called bargain shoppers.
這就是為什麼價值投資者也被稱為便宜貨購物者。
It's tempting to discover an undervalued investment.
人們很容易發現一項被低估的投資。
However, as the information about companies is more public and accessible, prices of good companies normally represent their values.
然而，由於有關公司的信息更加公開和容易獲得，優秀公司的價格通常代表着它們的價值。
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."
巴菲特值得信賴的合作伙伴查理·芒格(Charlie Munger)曾説過：“價格公道的好生意勝過價格公道的好生意。”
Therefore, value investors tend to look for great companies at reasonable prices, instead of sticking to cheap stocks.
因此，價值投資者傾向於以合理的價格尋找偉大的公司，而不是堅持購買廉價股票。
How to become a value investor?
如何成為價值投資者？
First and foremost, focus on fundamentals, which include business model, competitive advantages and growth potential.
首先，關注基本面，包括商業模式、競爭優勢和增長潛力。
It's not over yet.
還沒結束呢。
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,$蘋果(AAPL.US)$被認為是世界上最偉大的公司之一。
Does it make sense that we can buy it without hesitation?
我們可以毫不猶豫地買下它，這有意義嗎？
Definitely no.
當然不是。
Still remember what Munger told us? For even great companies, we should also buy them at fair prices.
還記得芒格跟我們説的話嗎？即使是偉大的公司，我們也應該以公平的價格收購它們。
There are many ways to value a company.
評估一家公司的方法有很多種。
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於公司估值的常用指標。它們將在接下來的章節中詳細説明。
When talking about investment strategies, you won't skip over technical analysis.
當談論投資策略時，你不會跳過技術分析。
Unlike fundamental analysis, it focuses on reading charts.
與基本面分析不同，它專注於閲讀圖表。
Technical analysts believe that the future performance of a stock can be predicted by analyzing past trading activity and price changes.
技術分析師認為，通過分析過去的交易活動和價格變化，可以預測一隻股票的未來表現。
Therefore, they like to discover trading opportunities in price trends and patterns.
因此，他們喜歡從價格走勢和模式中發現交易機會。
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.
技術分析被用來有效地改善市場的時機，這可以幫助你決定何時買入、賣出或持有現金。
To become a technician, you are expected to master three skills: reading price charts, understanding support & resistance, and identifying market trends.
要成為一名技術人員，你需要掌握三項技能：閲讀價格圖表，瞭解支撐位和阻力位，以及識別市場趨勢。
Last but not least, it's about passive investing.
最後但並非最不重要的一點是，這是關於被動投資的。
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.
被動投資鼻祖約翰·博格爾認為，打敗市場太難了，我們應該買下整個市場才能獲得平均回報。
Simply put, passive investing is a very friendly way for most investors, especially beginners.
簡而言之，被動投資對大多數投資者，尤其是初學者來説，是一種非常友好的方式。
You don't have to spend much time on doing company researches or analyzing complex price changes.
你不必花太多時間做公司調查或分析複雜的價格變化。
To sum up, we have introduced three ways to invest in stocks.
綜上所述，我們介紹了三種股票投資方式。
How to apply them practically?
如何在實踐中運用它們呢？
We will go through it in the following chapters.
我們將在接下來的章節中詳細介紹這一點。
For more investment knowledge and trends, welcome to Courses on the Community.
欲瞭解更多投資知識和趨勢，歡迎訪問課程關於社區。
