今天帶來的文章來自 On Regular Investing (中文版叫《定投改變命運》) 第二部分《定投標(biāo)的的選擇》前面一小部分。
我們常說，選擇大于努力。沒錯，在人生中為數(shù)不多的重大關(guān)鍵時刻，更是如此: 雞毛蒜皮的小事選擇錯誤倒影響不大，可若是在人生的重大事情上選錯了，就南轅北轍了，非?？植?。
比如在投資領(lǐng)域。選擇一個正確長期可持續(xù)定投的標(biāo)的是投資必需——你投資，鐵定是要賺錢的，對吧？
投資需要策略。然而現(xiàn)在就有這樣一個簡單、粗暴、直接、有效的策略，你想要嗎？
且看今天的文章。
原文:
Part Two: Choosing a Target for Regular Investing
Regular investing is simple, direct, brutal and effective. However, in addition to depending on the ability of the practitioner to earn money outside of the market, it depends even more on the selection of a quality investment target. If a mistake is made in the selection of the target, the result over the long term will be terrible.
It's important to note that what we are discussing is "how regular investors should choose an investment target", and not "how investors should choose the correct investment target". The former is a subset of the latter, and actually only has one additional condition:
Is it worth holding over the long term?
In the investment world, the Greet letter alpha (α) is used to refer to returns that exceed overall market returns. The goal of regular investors when choosing their investment target is to create alpha. They won't sell before at least two full market cycles have passed, because to do so would be to waste all of their previous efforts. All they do is buy, so they won't know for a long time whether or not their alpha is positive or negative.
生詞:
- former adj.以前的；前任的；
- subset n. 子集；
參考翻譯與劃分:
第一句
Regular investing（主）is（系）simple（表1）, direct（表2）, brutal（表3）and effective（表4）.
定投策略簡單、直接、粗暴、有效。
第二句
However, in addition to depending on the ability of the practitioner to earn money outside of the market, it depends even more on the selection of a quality investment target.
然而，除了依賴專業(yè)人士的場外掙錢能力，更是需要花費更多時間精力去選擇優(yōu)質(zhì)的投資標(biāo)的。
第三句
If a mistake is made in the selection of the target, the result over the long term will be terrible（狀語從句）.
若是選錯了定投標(biāo)的，很長時間后，結(jié)果是很恐怖的。
第四句
It's important to note that what we are discussing is "how regular investors should choose an investment target", and not "how investors should choose the correct investment target".
需要注意的是，我們討論的是 " 定投策略采用者應(yīng)該怎樣選擇一個投資標(biāo)的 "，而不是 " 投資者應(yīng)該怎樣選擇正確的投資標(biāo)的 "。
第五句
The former is a subset of the latter, and actually only has one additional condition:
Is it worth holding over the long term?
前者是后者的一個子集，并且事實上它只有一個附加條件:
這個標(biāo)的是否值得長期持有？
第六句
In the investment world（主）, the Greet letter alpha (α)（主）is used（謂）to refer to returns（賓）that exceed overall market returns（定從）.
在投資領(lǐng)域，希臘字母α被用來表示跑贏市場平均水平的回報率。
第七句
The goal of regular investors（主）when choosing their investment target（定）is to create（謂）alpha（賓）.
當(dāng)投資者選擇他們的投資標(biāo)的時，定投者的目標(biāo)是創(chuàng)造α。
第八句
They（主）won't sell（謂）before at least two full market cycles have passed（狀）, because to do so would be to waste all of their previous efforts（原因狀語）.
至少在經(jīng)過兩個大周期之前，他們是不會出售的，因為那會浪費他們之前所有的努力。
第九句
All they do is buy, so they won't know for a long time whether or not their alpha is positive or negative.
他們所要做的只有一個動作: 買。因為，無論長期還是短期，他們并不清楚他們的阿爾法究竟如何。
往期熱文
1. 《On Regular Investing》翻譯與結(jié)構(gòu)劃分(017篇)；
2. 《學(xué)英語就像寫代碼》；
3. 《一篇文章學(xué)會找賓語（必學(xué)）》。
