关于长期和短期投资

来源: 2018-02-25 17:27:44 [] [旧帖] [给我悄悄话] 本文已被阅读: 次 (1225 bytes)

Investing is an activity in which consumption today is foregone in an attempt to allow greater consumption at a later date. “Risk” is the possibility that this objective won’t be attained.

By that standard, purportedly “risk-free” long-term bonds in 2012 were a far riskier investment than a longterm investment in common stocks. 。。。

I want to quickly acknowledge that in any upcoming day, week or even year, stocks will be riskier – far riskier – than short-term U.S. bonds. As an investor’s investment horizon lengthens, however, a diversified portfolio of U.S. equities becomes progressively less risky than bonds, assuming that the stocks are purchased at a sensible multiple of earnings relative to then-prevailing interest rates.

It is a terrible mistake for investors with long-term horizons – among them, pension funds, college endowments and savings-minded individuals – to measure their investment “risk” by their portfolio’s ratio of bonds to stocks. Often, high-grade bonds in an investment portfolio increase its risk.

 

猜猜看谁说的?

所有跟帖: 

Warren Buffet -neversell- 给 neversell 发送悄悄话 neversell 的个人群组 (0 bytes) () 02/25/2018 postreply 18:24:00

是的。今天看他的给股东的信,发现他居然和我想的一样。 -艾克- 给 艾克 发送悄悄话 艾克 的个人群组 (0 bytes) () 02/25/2018 postreply 22:35:31

牛!居然和老巴想到一块!那么你的投资回报率也和他一样? -hhtt- 给 hhtt 发送悄悄话 hhtt 的博客首页 hhtt 的个人群组 (0 bytes) () 02/26/2018 postreply 06:18:56

偶有一得和牛人一样,谈不上就是牛人了。再说,够了就行了,比也没有啥意义。钱再多, -艾克- 给 艾克 发送悄悄话 艾克 的个人群组 (80 bytes) () 02/26/2018 postreply 10:58:14

说起buffet公司的market return,其实这个decade, 大概就是和market 一样,肯定还没班上 -艾克- 给 艾克 发送悄悄话 艾克 的个人群组 (182 bytes) () 02/26/2018 postreply 11:04:31

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