我对投资的基本理解

记得以前翻过一本书叫《穷爸爸和富爸爸》，初学投资的人如果觉得巴菲特的东西一时不好懂，可以看看这本书。我对投资的基本理解好像和这本书差不多。假设我有10000块闲钱，也就是一时半会用不着的钱，应该怎么办呢？我可能有以下的一些选择： 1.在床底下挖个洞埋起来。----20年后还是10000.

Source: http://nteswjq.blog.163.com/blog/static/1269981201022504132214/

My basic understanding of investing

> By Duan Yongping · his NetEase blog (nteswjq.blog.163.com, now closed; read from web archives) · 2010-03-25 · [Original link](http://nteswjq.blog.163.com/blog/static/1269981201022504132214/) ([archived](https://web.archive.org/web/20100329165647/http://nteswjq.blog.163.com:80/blog/static/1269981201022504132214/))

I remember once flipping through a book called Rich Dad, Poor Dad. Beginners in investing who find Buffett's stuff hard to understand at first can read this book.

My basic understanding of investing seems to be about the same as this book's.

Suppose I have 10,000 yuan of spare money, that is, money I won't need for a while. What should I do? I might have the following choices:

1. Dig a hole under the bed and bury it. ---- After 20 years it's still 10,000.

2. Put it in the bank or buy government bonds. Assuming average interest of 6% --- after 20 years it's about 32,000-something.

3. Invest in the S&P 500. The average annual return over nearly 100 years is about 9% --- after 20 years it's around 56,000.

So as long as I can find any investment with an annual return of 9% or more, I can consider investing.

The problem is that taking interest is absolutely risk-free, while investing may lose everything.

So risk is the first consideration in deciding whether to invest.

The most important thing about investing in what you understand is being able to see where the risk is.

It's perfectly normal for different people to invest in different targets because they understand different things; none is better or worse, but short-term and even long-term returns may differ.

For people who understand neither companies nor investing, buying the index when the S&P 500 is low is also a very good way to invest. I don't know the A-share situation.

The logic of other investments such as real estate is the same. Whether real-estate prices are expensive, you can read Rich Dad, Poor Dad; I remember it put it quite well.

In any case, I think the most important investment in life is investing in education.

My parents' upbringing, my childhood experiences and hardships, and what I learned in primary school, middle school, university and graduate school have all played a big role in my running companies and in my investing now.

Next time I'll give one or two examples of my successes, and also talk about my thinking on some things I'm investing in now.