Market Sense

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CK Choy.

Market Sense 市场意识: 投資致勝首要條件 Stay in the game
Be decisive, Be patient, Don’t be greedy, Don't be stubborn

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The information contained in is provided to you for general information/circulation only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.

You should seek advice from a financial adviser regarding the suitability of the investment products mentioned, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to purchase the investment product. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.

Any views, opinions, references or other statements or facts provided in this are personal views. No liability is accepted for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on the information provided herein.

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Note:
All TA (Technical Analysis) view using charts are for illustration purpose only.
Unless otherwise specified, all charts' sources are from POEMS(Phillip Online Electronic Mart System)

Sunday 16 October 2011

投資致勝首要條件 Stay in the game

蘋果教主喬布斯,離職養病,惜終不敵病魔,終年五十有六。七十年代起家,先創辦蘋果電腦(AAPL),中途被逐蒙難,轉搞彼思動畫(PIXAR),一樣有聲有色。喜獲迪士尼(DIS)收購,續變身迪士尼大股東。另一檔生意NeXT,又被蘋果收購,最終回巢效力。重掌帥印後,將公司起死回生,比之前更加成功。蘋果最強的i字頭系列,都在這「中興」年代推出,產品廣受歡迎。據估計,喬布斯起碼顛覆了全球六大產業:個人電腦、手機、音樂、動畫、電子書、平板電腦。奮鬥三十餘年,已有力翻天覆地,如若再幹十年,會是何等景象?可惜,歷史沒有如果,傳奇不幸作結。

壽命限制事業成就
人的壽命,往往限制事業上的成就。當然,能投入工作的年份,才有意義。所以具有健康的身心,更形重要。對投資者而言,只要一息尚存,仍有建功立業機會,故此要有所成,首要身壯力健,二要保存財政實力,將留在市場的時間,延至最長。股神巴菲特,之所以能夠封神,一項重要因素,就是夠長壽。其首次登上世界首富寶座,是二○○八年,當時已屆七十八歲高齡。如股神像喬氏一般,不敵天數大限,只活到五十餘歲,即八十年代中,則其時連名震天下的傑作:可口可樂(KO),都尚未買入,總結成績,自然大打折扣。炒神索羅斯,更要到四十歲,才與羅傑斯開檔,首次管理基金。到擊潰英鎊一役,行年六十有二,就嚟有生果金攞。

留於市場時間,愈長愈着數,有幾個原因:首先是複利的威力。愛因斯坦謂:「複利乃宇宙間最強力量,是世界第八大奇迹。」年賺一成半,五年翻一番,純粹中學數,完全沒難度。又,股神曰:「時間為好公司之友,壞公司之敵。」當持有的股份,長年累月賺取利潤、派發股息,多年後回望,會在不覺間漸有所成。

投資技巧經驗累積
其次是知識、經驗,會隨時間累積。投資就如學英文,一開始從頭學起,字母、詞匯、句式、文法,最後才是作文。最初字母都未背完,出去同人鬥寫,自然瓜多過菜。多數人沒度過最初階段,但存活夠久,經歷漸長,開始識寫一段仔,雖然高手仍然眾多,但由於開始拋離入門新手,死亡率會逐漸下降,技巧亦漸進。在投資上,到了某一階段,譬如經過前兩年的海嘯,又或是近一年的波動,仍能力保不失,或許證明已找到生存之道。

而投資要有大成,也講點際遇,像股神亦要碰上八七股災,可口可樂回落,才有機會買入。下一次機會,何時降臨,無人能知,唯一可以肯定,待在市場愈久,碰上的機會愈多。同時,因為遇到機會的時間未明,時常保留一定的購買力,也相當重要。

金錢遊戲,人之所需,難以告終。喬布斯嘗勉勵後進謂:Stay hungry. Stay foolish.誠哉斯言。投資投機,欲更進一步,則宜加上:Stay in the game.

Source/转贴/Extract/Excerpts: 東周刊 / 輯錄自 424期 Book A 【大英Blog物館】
Publish date:11/10/11

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