Graham, the father of value investing, once said, "The investor's main problem, and even his worst enemy, may be himself." ”
The reason why we become our enemies is because of the interference of changes in our state of mind. In the unpredictable tide of the capital market, it is difficult for us to maintain long-term calm and sobriety, and if we are not careful, we will fall into some kind of psychological trap, which will lead to deviations in investment behavior and unnecessary investment losses.
Today, let's take a look at what are the common psychological traps in ** investment.
Pitfall 1: The herd effect
The herd effect is also called the "herd effect", that is, people's psychological state is easily influenced by the group or the people around them. For example, in your usual investment, have you ever seen that a certain industry is very hot, and you immediately chased the high**? Is there a time when you see the ** income held by others is high, and you can't help but be tempted to place an order immediately?
As everyone knows, when a ** is in full swing of discussion, it is likely to have been ** for a period of time or in a short-term high position, if you chase high ** at this time, the risk will be greater.
As Warren Buffett once said: I am afraid when others are greedy, and I am greedy when others are fearful. The same is true for ** investment, when the market is high, we need to be more rational, maintain an independent investment awareness, and make reasonable decisions according to the market and our own situation, rather than blindly following the trend.
Pitfall 2: Disposition effect
Here's a question for you: if you hold two ** with profit and loss at the same time, if you have to sell one, will you choose to sell the profit or loss?
I believe that most friends will choose to sell the profitable ** and continue to hold the loss-making**, which just falls into the psychological trap of the disposal effect.
This kind of psychology is easy for us to take profit prematurely on high-quality **, and blindly insist on losing **, which not only wastes our time, but also may increase our losses in the future.
In order to reduce the impact of the disposal effect, when making the best trading decision, we must start from the overall situation, combined with the comprehensive situation of the market and ourselves to carry out take profit or stop loss operations.
At the same time, we should weaken the focus on the rise and fall of short-term net worth, pay more attention to the long-term performance of the company, the investment logic of the manager and other core issues, and be more patient with the high-quality assets.
Trap 3: Anchoring the mind
In investment, we can always hear: if it has risen so much, it should be sold, and if it has fallen so much, it can be bought. This is a typical investment thinking with the purchase price as the "anchor".
For example, when we go to the mall to buy goods, we will pay more attention to the difference between the discounted product and the original price, if the price difference is large, we will feel that it is a good deal, and it will be easier to add the product to the shopping cart.
In investing, anchoring psychology can make us pay too much attention to historical net worth or holding costs, and ignore the value of the value itself and the future trend.
Therefore, before buying, we need to fully understand the "** itself" and the person behind the ** - * manager.
We need to understand the investment direction of ** and the future development trend of the field in which it invests.
You must know that the historical performance is only a reference index for us to screen the excellent, and the steady growth ability in the future is an important consideration for our trading operations.
Well, that's all for you today. Investment is a practice, in order to improve the winning rate, not only need excellent investment ability, but also need a good investment mentality, we only strive to overcome the weakness of human nature, always keep reasonable, in order to hand over a satisfactory answer in the field of investment.