致顺思享 ｜ 彼得 · 林奇十大投资箴言

文章来源：本文根据WealthLift.com博客文章整理而成。

彼得·林奇(Peter Lynch)出生于1944年1月19日，是一位卓越的股票投资家和证券投资基金经理。

在他的领导下，当时鲜为人知的麦哲伦基金成为了从1977年到1990年全球范围内数一数二的基金，资产规模由1800万美元成长至140亿美元，13年的年平均复利报酬率高达29%。

我们特此向大家分享投资传奇彼得·林奇的十大著名投资语录，深度剖析他的投资理念。

1、“The simpler it is, the better I like it.” – Like all the super investors that we have studied here in WealthLift.com, Peter Lynch believes in the power of simplicity. A simple but effective investment plan will always be better than a complicated one because the simpler one has less room for errors. Also, the simpler the business model of a company, the easier it is to understand and evaluate – and that will help you make better investment decisions.

“越是简单，我越喜欢。”——同所有WealthLift.com（美国致力于投资教育的机构）研究过的投资高手一样，彼得·林奇相信“简单”的力量。一个简单而有效的投资计划总是比一个复杂的投资计划好，因为更简单所以出错的可能更少。此外，一家公司的商业模式越简单，它就更容易被理解和评估，这将有助于你做出更好的投资决策。

2、“If you’re prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won’t get bored.”– Before buying the stock of a company, you need to understand it completely. This simple test will help you double check if you really have a valid reason for investing, aside from “because it’s going up.”

“如果你准备投资一家公司，那么你理应能够以简单的语言，让一个五年级的学生也能轻易理解你的投资逻辑，并能足够快速地阐明理由，让他都来不及感到厌倦。”——在决定购买一家公司的股票前，你需要全面地了解它。这个简单的测试将帮助你认清，你是否真的有一个充分的投资理由，而不是“因为它在涨”这个站不住脚的理由。

3、“Behind every stock is a company. Find out what it’s doing.” – Most investors often forget that the stocks they are buying or selling are shares of a certain company. Remind yourself constantly that the underlying value of the company will determine the stock price eventually, so do your research and understand the real value of what you are buying.

“每一只股票的背后都是一家公司。弄清楚这家公司在干什么。”——大多数投资者通常都忘了他们所购买或出售的股票是某一家公司的股份。要不断地提醒自己，一家公司的潜在价值会最终决定其股票的价格，所以你需要好好地研究和了解你所购买公司的真实价值。

4、“Owning stocks is like having children — don’t get involved with more than you can handle.” – In short, don’t bite more than you can chew. Make sure that you focus on a few companies that you can research and monitor frequently. Investing is not about how many kinds of stocks are in your portfolio, it’s about how well your portfolio is growing.

“持有股票就像养育孩子－别做超出自己能力范围的事。”——简而言之，不要好高骛远贪多嚼不烂。确保你专注于一些你可以经常研究和观察的公司。投资不是取决于你的投资组合中多少种股票，而是取决于你的投资组合能涨多好。

5、“In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” – Investing is a numbers game. You cannot and must not expect a perfect game, if you can’t take a loss, then you’re doomed right from the start. Success in investing and in life depends on dealing with failure, cutting losses early, learning from them, and moving on.

“在这个行业中，如果你是个行家，你可能十次中有六次是对的，绝不可能十次中有九次都是对的。”——投资是个数字游戏。你不能，也一定不要期待一场完美的游戏，如果你不能承受损失，那从一开始就注定了失败。不管是投资还是生活中的成功都取决于如何应对失败，及时止损，从中学习，然后继续前进。

6、“The person that turns over the most rocks wins the game. And that’s always been my philosophy.” – Investing is all about the thoroughness of your research. The more you understand the companies you invest in, the better your chances of success.

“能把最多的岩石翻个底朝天的人才能在游戏中获胜。这是我一直坚信的哲理。”——投资的本质完全在于你研究的彻底性。你越了解你所投资的公司，你成功的机会就越大。

7、“During the Gold Rush, most would-be miners lost money, but people who sold them picks, shovels, tents and blue-jeans (Levi Strauss) made a nice profit.” – This is a great investing principle that most people tend to overlook. When you identify a booming industry or stock, don’t forget to look at the companies supplementing that industry. For example, when Apple Inc. (AAPL) became successful with the iPhone, a lot of other companies supplying them with technology and raw materials also made huge money.

“在淘金热期间，大多数淘金者赔了钱，但卖镐，铲子，帐篷和蓝色牛仔裤（李维斯）的人却获得了不错的收益。”——这是一个大多数人往往忽视了的伟大的投资原则。当你发现一个蓬勃发展的行业或股票，别忘了关注为这个行业提供支持的公司。比如，当苹果公司凭借iPhone取得巨大成功时，很多为他们提供技术和原材料的其他公司也赚了大钱。

8、“Stocks aren’t lottery tickets. There’s a company attached to every share.” – In a similar light to quote #3, it’s so easy to buy or sell stocks nowadays, just get an online broker, fund it, click here, click there, and voila! You’ve bought yourself some stocks. But now what? You bought what? And why? Come again?

“股票不是彩票。每一股都与一家公司息息相关。”——这里的论点类似于第三条语录，现今股票交易极其简单，只要在线登录，找到某支股票，点击这里，点击那里，瞧！你这就给自己买了一些股票。可那又怎么样？你买了什么？为什么呢？周而复始？

9、“All the math you need in the stock market you get in the fourth grade.” – Investing is not rocket science, if it was, then most university finance professors would be billionaires (which is not the case). Peter Lynch’s favourite valuation models are pretty simple to calculate, take for example the PEG ratio (which he popularized). You just need basic math do get all the important ratios that you need. What you really need to supply to your investing is the elbow grease and discipline to do your research.

“在股票市场上，你只需要四年级数学水平。”——投资不是研究建造火箭，如果是，那么很多大学金融教授都是亿万富翁了（事实并非如此）。彼得·林奇最喜欢的估值模型计算起来非常简单，例如PEG比率（他推广的）。你只需要基本的数学就能得到所需的重要比例。你真正需要在投资中贯彻的是不遗余力地、有条理地坚持你的研究。

10、“The natural-born investor is a myth.” – When it comes to investing, hard work and discipline is still the best determining factor for success. Stock market investing is a skill that you could and should learn – that’s why Wealth Lift exists – to help and guide investors toward investment success.

“与生俱来的投资者是一个神话”——关于投资这个话题，勤奋和自律仍然是成功的决定性要素。股市投资是一个你能够也应该学习的技能——这就是WealthLift之所以存在的意义——帮助和引导投资者走向成功。

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