Investment and Life
The Hang Seng Index substantially boosted up yesterday to close at 16,411.13. It was believed that the rise was triggered by a strong inflow of traditional European funds. They might expect an occurrence of a high-level return in the short run. Are you one of them, my German friend?
The rise of the stock market is so attractive. It attracts sights of professionals, students, housewives, elders. However, people who can become rich by stocks are very rare (certainly rich people are rare too). Even Warren Buffett, known as the Oracle of Stock Markets, is just the second richest person in the world, behind the IT talent Bill Gates, Microsoft chairman (Does it mean IT guys superior?). Anyway, many people still look for so called Must-Win method for investment/speculation. The following quotes from a local columnist Cao Ren Chao (Chinese: 曹仁超) are considered by the HK public as lighthouses of investment:
有智慧不如趁勢。
Trends override individual wisdom.
投資行為係世界上最易學難精之事，其中涉及風險管理，簡單點說便是止蝕的勇氣及賺盡的豪氣。
Investment is the easiest to learn but the most difficult to be expert. It involves risk management that in simply speaking is courage of making a decision to stop loss and to win all.
賺錢不在炒出炒入，而係如何持久地細水長流。
Profit does not come from frequent buy and sell, but remaining continuous inflow.
如果有位分析員可以每問必答，可以肯定佢唔係專家。
If an analyst can answer any question, he is certainly not an expert.
投資股票如找對象，寧缺勿濫 —— 搵唔到對象雖然可能孤獨寂寞，總較嫁錯丈夫、娶錯老婆變成破碎家庭好！
The way of investment is like that of couple hunting: lacking is better than overflow. If you cannot find a couple, you may feel lonely. This situation is however better than that you get a wrong couple and eventually leads to a broken family.
人類的思考方法往往把瞬間當做永恆，什麼海枯石爛此志不移，現實生活係海從未枯、石從未爛，但發誓的男女許多已變了心。
Human beings always think about an instant as the eternity. Lovers like to make a promise of lasting till the water runs dry. In fact, the water never runs dry but those who made such a promise have changed their mind.
許多時我地必須選擇放棄眼前利益或歡樂，以謀求未來更大利益及更大歡樂。如我地不懂得選擇，我地做唔成時間的主人，生命便一塌糊塗。
We usually have to give up interests at present in order to seek larger interests in the future. If you do not know how to give up, you cannot be the master of your time and your life will totally be in a mess.
上帝要它滅亡，必先令它瘋狂！牛市在一片歡樂聲中死亡，熊市在愁雲慘霧中誕生。
Whom the gods would destroy, they first make mad. Bull markets cease in optimistic atmosphere and bear markets are born in very blue days.
投資市場成敗不在於擊倒別人，而係如何克服自己心魔。
Whether an investment is successful does not lie in knocking out opponents but overcoming shadow of your own soul.
人人都希望「進」，其實有時做人係需要「退」。
Everyone wants growth. Actually he/she sometimes has to draw back.
有人話股票有如美麗的少女，當你追求她時天真可愛兼迷人；不過，一旦你擁有她時，便發現美麗女性通常過於傲慢而令人難以容忍，最後棄之而後快！多少男性被美麗的面孔吸引而作出錯誤抉擇，忘記娶妻求淑女！
Someone said that a stock was like a beautiful girl. When you chased her, she looked naive, lovely and charming. Once you owned her, however, it was found that beautiful women were usually arrogant. You could no longer tolerate her and at last abandoned her. Many men have made wrong decisions by women's appearance. They forgot that lady spirit is the most important element of a wife.
我認為做人成功要靠三點：聰明過人、勤力過人、持久過人。我不能聰明過人，我希望能做到勤力過人，持久過人。
I think that success lies on three factors: intelligence, diligence and patience. I am not more intelligent than some people, but I wish I will be more diligent and patient.
What boring quotes? Yes, they sound like life philosophy. Either in markets or in lives, people who have heard the quotes are most but those who have really implemented the quotes are rare.
The rise of the stock market is so attractive. It attracts sights of professionals, students, housewives, elders. However, people who can become rich by stocks are very rare (certainly rich people are rare too). Even Warren Buffett, known as the Oracle of Stock Markets, is just the second richest person in the world, behind the IT talent Bill Gates, Microsoft chairman (Does it mean IT guys superior?). Anyway, many people still look for so called Must-Win method for investment/speculation. The following quotes from a local columnist Cao Ren Chao (Chinese: 曹仁超) are considered by the HK public as lighthouses of investment:
有智慧不如趁勢。
Trends override individual wisdom.
投資行為係世界上最易學難精之事，其中涉及風險管理，簡單點說便是止蝕的勇氣及賺盡的豪氣。
Investment is the easiest to learn but the most difficult to be expert. It involves risk management that in simply speaking is courage of making a decision to stop loss and to win all.
賺錢不在炒出炒入，而係如何持久地細水長流。
Profit does not come from frequent buy and sell, but remaining continuous inflow.
如果有位分析員可以每問必答，可以肯定佢唔係專家。
If an analyst can answer any question, he is certainly not an expert.
投資股票如找對象，寧缺勿濫 —— 搵唔到對象雖然可能孤獨寂寞，總較嫁錯丈夫、娶錯老婆變成破碎家庭好！
The way of investment is like that of couple hunting: lacking is better than overflow. If you cannot find a couple, you may feel lonely. This situation is however better than that you get a wrong couple and eventually leads to a broken family.
人類的思考方法往往把瞬間當做永恆，什麼海枯石爛此志不移，現實生活係海從未枯、石從未爛，但發誓的男女許多已變了心。
Human beings always think about an instant as the eternity. Lovers like to make a promise of lasting till the water runs dry. In fact, the water never runs dry but those who made such a promise have changed their mind.
許多時我地必須選擇放棄眼前利益或歡樂，以謀求未來更大利益及更大歡樂。如我地不懂得選擇，我地做唔成時間的主人，生命便一塌糊塗。
We usually have to give up interests at present in order to seek larger interests in the future. If you do not know how to give up, you cannot be the master of your time and your life will totally be in a mess.
上帝要它滅亡，必先令它瘋狂！牛市在一片歡樂聲中死亡，熊市在愁雲慘霧中誕生。
Whom the gods would destroy, they first make mad. Bull markets cease in optimistic atmosphere and bear markets are born in very blue days.
投資市場成敗不在於擊倒別人，而係如何克服自己心魔。
Whether an investment is successful does not lie in knocking out opponents but overcoming shadow of your own soul.
人人都希望「進」，其實有時做人係需要「退」。
Everyone wants growth. Actually he/she sometimes has to draw back.
有人話股票有如美麗的少女，當你追求她時天真可愛兼迷人；不過，一旦你擁有她時，便發現美麗女性通常過於傲慢而令人難以容忍，最後棄之而後快！多少男性被美麗的面孔吸引而作出錯誤抉擇，忘記娶妻求淑女！
Someone said that a stock was like a beautiful girl. When you chased her, she looked naive, lovely and charming. Once you owned her, however, it was found that beautiful women were usually arrogant. You could no longer tolerate her and at last abandoned her. Many men have made wrong decisions by women's appearance. They forgot that lady spirit is the most important element of a wife.
我認為做人成功要靠三點：聰明過人、勤力過人、持久過人。我不能聰明過人，我希望能做到勤力過人，持久過人。
I think that success lies on three factors: intelligence, diligence and patience. I am not more intelligent than some people, but I wish I will be more diligent and patient.
What boring quotes? Yes, they sound like life philosophy. Either in markets or in lives, people who have heard the quotes are most but those who have really implemented the quotes are rare.
Comments
Cao Ren Chao is a famous local columist. His column 投資者日記 is published in Hong Kong Economic Journal 信報 every weekday. And you can read it in library.