教育培训机构资料7 美国来鸿 股市山车游.pdfVIP

7.ARoller-CoasterRideintheStockMarket

(无法显示图，但图中有注释)

678

Doyouenjoyaroller-coasterride?Upsanddowns,zigsandzags,freefallsin

thedark.ImadeseveralsuchridesinDisneyParkinFlorida.Itwasanawfulyet

exhilarating9experience.ButIvowedthatIwouldnotdoitagainsinceIreallydonot

havetheguts10toexperiencesomanythingsoutofyourvisionandoutofyour

control.Youdonotknowwhereyouaregoingandwhenitisgoingtobeover.

However,Iexperiencedanotherlongroller-coasterrideinthestockmarket.So

didalotofmyfriends.In1999,thebulldominatedthestockmarketsintheStatesand

stockssimplysoared11,DowandNasdaqreachingtheirhistoricalheightsrespectively.

Inparticular,thetechnologysectorgrewlikecrazy.Youdidnothavetobea

technologyguru12topicktherightstockandgetrich.Youjustpickedanytechnology

stock,atsheer13blindrandom,andyouwouldgainafterashortperiodoftime.That

wasthetimewhenmostofus--Imeanthecircleofourfriends--gotintothestock

market.

InConnell,Ihadtakenacoupleoffinancecoursesandlearntsomebasic

conceptsaboutstocks,suchas“Buylow,Sellhigh”,“Diversifyyourportfolio14”(i.e.

Dontputallyoureggsinonebasket.)and“Investforthelongterm.”However,

beingagreenhand15inthismarket,IfounditterriblyhardtoapplywhatIlearnt.First

ofall,itwasdifficulttomakeaduejudgmentonwhenthepricehitthebottomand

wasabouttoturnupward.Ihadawatchlist.Somestocksjusthadthemomentum16

fromnowhereandkeptoninchinghigherandhigher;somejustwentheadlong17in

theoppositedirection.Secondly,itwaseasytosay“Diversifyyourportfolio”.But

withmylittlesavingsthatIinvestedinthemarket,itdidnotseemtomakesenseto

di