如何投資——即使是在流行病期間

如何投資——即使是在流行病期間

It's been a wild year for the financial world. You might be worried about your investments or considering making changes to your portfolio.

對(duì)金融界來說，這是瘋狂的一年。你可能會(huì)擔(dān)心你的投資或者考慮改變你的投資組合。

But don't do anything drastic. Trust us, no good has ever come from freaking out about your stocks in the middle of a global pandemic.

但不要做任何過激的事。相信我們，在全球流行病之際，對(duì)你的股票感到恐慌是不會(huì)有任何好處的。

Here's what to remember:

以下是需要記住的:

1. Don't sell stocks when the market tanks.

不要在市場(chǎng)下跌時(shí)拋售股票。

When stocks are in free fall, it's scary. You watch your retirement portfolio drop in value. Try thinking about it like a roller coaster. Those can be scary too, but you only get hurt if you jump off the roller coaster. It's better to hang in there and ride back up when the market recovers.

當(dāng)股市自由下跌時(shí)，這很可怕。你看著你的退休投資組合貶值。試著像過山車一樣。這些也很可怕，但如果你從過山車上跳下來，你只會(huì)受傷。最好是堅(jiān)持住，在市場(chǎng)復(fù)蘇的時(shí)候，再坐起來。

The problem with selling, is nobody knows when the market will turn around and go roaring back up. So if you sell, your retirement fund can get left in a ruined heap after the market recovers.

拋售的問題在于，沒人知道市場(chǎng)何時(shí)會(huì)轉(zhuǎn)好，何時(shí)會(huì)重新飆升。因此，如果你賣出股票，你的退休基金可能會(huì)在市場(chǎng)復(fù)蘇后變成一堆爛攤子。

2. Rebalance your portfolio at least once a year

每年至少調(diào)整一次你的投資組合

If you want to indulge your human impulse to do something in the face of a market crash, Swensen says there is one very good thing to do. It's called rebalancing: "selling what's gone up and buying what's gone down," says Swensen.

史文森說，如果你想在市場(chǎng)崩盤時(shí)放縱自己的沖動(dòng)去做點(diǎn)什么，有一件非常好的事情可以做。這被稱為再平衡:“賣出上漲的，買入下跌的，”斯文森說。

If you have a well designed pie-chart of investments prior to the market crashing, then you have an opportunity to rebalance. For example, if stocks have fallen in value and treasury bonds have increased in value (after investors rushed to buy them as safer investments), then your pie slice for stocks has gotten smaller in value as a percentage of your portfolio. And your bond slice has gotten bigger.

如果你在市場(chǎng)崩盤前就有了一個(gè)精心設(shè)計(jì)的投資餅圖，那么你就有了重新平衡的機(jī)會(huì)。例如，如果股票貶值了，而國(guó)債升值了(在投資者將其作為更安全的投資而爭(zhēng)相購(gòu)買之后)，那么你在股票投資組合中所占的比例就變小了。你的債券份額變大了。

3. Don't pick your own stocks.

不要自己選股票。

It makes sense to be invested in the stock market because over long periods of time, stocks have had much better returns than bonds or other investments. But that does not mean that it's a good idea to buy individual stocks, like Amazon or Tesla or whatever seems like the hot company.

投資于股票市場(chǎng)是合理的，因?yàn)閺拈L(zhǎng)期來看，股票比債券或其他投資有更好的回報(bào)。但這并不意味著購(gòu)買個(gè)股是一個(gè)好主意，比如亞馬遜或特斯拉或任何看起來熱門的公司。

Here is the dirty little secret of Wall Street. It's almost impossible, even for professionals, to pick individual companies whose stocks are going to outperform the overall market. Over time, eighty to 90% of mutual fund managers —80 to 90%— fail at this.

下面是華爾街骯臟的小秘密。即使是專業(yè)人士，也幾乎不可能挑選出哪一家公司的股票會(huì)跑贏大盤。隨著時(shí)間的推移，80%到90%的共同基金經(jīng)理在這一點(diǎn)上失敗了。

So if you're thinking you can read some investing magazines, watch some investing shows on TV, and pick some winner stocks, Swensen says, "it's basically a fool's errand."

因此，如果你認(rèn)為可以讀一些投資雜志，看一些電視上的投資節(jié)目，并選擇一些賺錢的股票，史文森說，“這基本上是一個(gè)傻瓜的差事。”

So what's the right way to own stocks?

那么持有股票的正確方法是什么呢?

4. Invest in index funds, not actively managed funds. And don't pay too much in fees.

投資指數(shù)基金，而不是積極管理的基金。不要支付太多的費(fèi)用。

Swensen says to buy a slice of the entire stock market using low-cost, broad-based index funds. The Vanguard Total Stock Market Index Fund, for example, buys just about every U.S. public company for a very low annual fee of 0.14%.

史文森說，要用低成本、基礎(chǔ)廣泛的指數(shù)基金在整個(gè)股市中分一杯羹。例如，先鋒股票市場(chǎng)指數(shù)基金以0.14%的極低年費(fèi)收購(gòu)了幾乎所有美國(guó)上市公司。

Index funds differ from actively managed mutual funds, some of which charge fees that are 10 times what you'd pay for an index fund. Index funds are what's called 'passively' managed — they just buy a list of stocks without trying to pick winners or losers.

指數(shù)基金不同于積極管理的共同基金，其中一些基金收取的費(fèi)用是指數(shù)基金的10倍。指數(shù)基金是所謂的“被動(dòng)”管理，他們只是購(gòu)買一份股票清單，而不試圖挑選贏家或輸家。

In an actively managed fund, you're paying professional investors to pick a basket of stocks for the fund to invest in that are supposed to outperform the overall market. But as we say above, the vast majority fail to do that after you factor in the fees they charge you.

在一個(gè)積極管理的基金中，你付錢給專業(yè)投資者，讓他們?yōu)榛鹛暨x一籃子股票進(jìn)行投資，這些股票應(yīng)該會(huì)跑贏大盤。但正如我們上面所說的，在你考慮到他們向你收取的費(fèi)用后，絕大多數(shù)都無法做到這一點(diǎn)。

5. Diversify your portfolio.

分散你的投資組合。

Here's a sample recommended portfolio from David Swensen which he says will serve most investors well:

以下是大衛(wèi)·史文森推薦的投資組合樣本，他說這對(duì)大多數(shù)投資者都有好處:

30% in U.S. stocks.

30%投資于美國(guó)股票。

15% in developed country stocks.

15%投資于發(fā)達(dá)國(guó)家股票。

5% in emerging market stocks.

5%投資于新興市場(chǎng)股票。

20% in domestic U.S. real estate.

20%投資于美國(guó)國(guó)內(nèi)房地產(chǎn)市場(chǎng)。

15% in U.S. Treasury bonds.

15%投資于美國(guó)國(guó)債。

15% U.S. Treasury Inflation Protected Securities.

15%投資于美國(guó)財(cái)政部通貨膨脹保護(hù)證券。

Experts say if you want to make big changes to your portfolio, again don't do it right after stocks crash. Some suggest what's called 'dollar cost averaging' where you make a series of gradual moves over a year and a half to end up where you want to be.

專家說，如果你想對(duì)你的投資組合進(jìn)行大的改變，同樣不要在股市崩盤后馬上做。有人建議稱之為“成本平均法”，即在一年半的時(shí)間里逐步采取一系列措施，最終達(dá)到你想要達(dá)到的目標(biāo)。

As people approach retirement age and once they're in retirement, Swensen says, things get more complicated. At that point in your life, many experts say it may make sense to get some professional advice from a financial advisor.

史文森說，隨著人們接近退休年齡，一旦進(jìn)入退休年齡，事情就會(huì)變得更加復(fù)雜。在你人生的這一刻，許多專家說，從理財(cái)顧問那里得到一些專業(yè)建議也許是有意義的。