“金字塔加码”,用英文如何表达?


“金字塔加码”,指的是在交易股票、外汇、或其他金融类产品时使用的一种方法或策略。其具体含义为:当你的头寸已经获得一定利润时,你判断当前趋势强劲,且还会持续下去,则可选择在此时增加你的头寸,以博取更大的利润。不过随着价格的上涨,你每次增加的头寸都少于上一次的头寸,目的是防止回撤带来的风险。在英文中,这种”金字塔加码”被称为:pyramiding,或者scale in。这里的pyramid,用作动词,表示以金字塔的方式(加注)。scale,指按照一定的比例。我们看相关的例句: Scaling in is the same thing as adding to a position or pyramiding in.(按比例加注,其意思和增加头寸、或金字塔加码是一个意思。)One strategy of maximizing your profit when you are riding a strong trend is to pyramid in carefully.(当你赶上了一波强劲的趋势时,最大化盈利的策略之一是采用金字塔方式谨慎加注。)

参考链接:

Pyramiding – A Money Management Strategy To Increase Profits

Jesse Livermore英文投资名言: It never was my thinking that made the big money for me…


“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

— Jesse Livermore

“在华尔街闯荡多年之后,在大赚、大赔过数百万美元之后,我想告诉你这一点:我的想法从未帮我挣过大钱。总是坐着不动替我赚到钱。明白吗?不动如山!”

— 杰西.利弗莫尔

参考链接:

The Top 30 Quotes From Jesse Livermore On Trading And Investing

保罗.都铎.琼斯投资名言: I believe the very best money is made at the market turns…

“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.”

— Paul Tudor Jones

“我深信,最丰厚的利润是在市场发生反转时赚到的。所有人都会告诉你,妄图逃顶和抄底的做法必死无疑,只有在趋势发展中才能赚到钱。好吧,在过去的12年中,我一直都错过了趋势中间的那块肥肉,然而我却在市场的顶底部赚到盆满钵满。”

— 保罗.都铎.琼斯

Losers average losers, 如何理解这句话的意思?

Losers average losers,是流传于华尔街趋势投资者中的一句名言,据说被传奇投资人Paul Tudor Jones保罗.都铎.琼斯,见配图)奉为信条。网上曾流传一张Jones的办公室照片,在其座位的上方,就张贴着这句话“Losers average losers”,用来警示自己。那么Losers average losers,到底是什么意思呢?它表示:输家才向下摊平。这句话里的第一个losers,指的是失败的(投机)交易者;average,是动词,表示“摊平、平均化”;最后一个losers,则表示“表现不佳的投资品种”。也就是说,当一只股票(或其他投资品种)的价格掉头向下时,不要在下跌期间加码,试图摊平买入成本。因为价格有可能一去不回,比如Enron(安然公司)的股票。对于使用杠杆的趋势投机者而言,这种向下加码摊平的策略尤其危险,可能会导致彻底爆仓,血本无归。当然,Will也看到有截然不同的观点认为:Winners average losers,会向下摊平的才是赢家。其实我觉得这两种观点都有道理,不可机械理解,具体还是取决于你的投资风格,以及投资品种本身的质地。

参考链接:

Losers average losers

Winners average losers

http://www.businessinsider.com/the-tk-best-things-paul-tudor-jones-has-ever-said-2011-8#losers-average-losers-5

彼得.林奇投资名言: You’re never going to be right nine times out of ten…

“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. This is not like pure science where you go, “Aha” and you’ve got the answer. By the time you’ve got “Aha,” Chrysler’s already quadrupled or Boeing’s quadrupled. You have to take a little bit of risk.”

— Peter Lynch

“倘若你是投资高手,你选股的正确率能达到60%。但你永远无法做到90%。投资并非纯科学,不可能说一声“啊哈!”,就发现了正确答案。股票投资这一行,等你想明白说“啊哈”的时候,克莱斯勒的股价可能已经翻了四倍,或者波音早已翻了四倍。你必须得冒一点风险。”

— 彼得.林奇

参考链接:

http://www.pbs.org/wgbh/pages/frontline/shows/betting/pros/lynch.html