Sushi Money 寿司的钱

I wish I had a penny for every opinion I’ve read on market strategy and investing.  Short-term, long-term, technical, fundamental, computer-based trading, indexing, etc.  There is no shortage of opinion when it comes to money!  It’s great to have access to so much information these days, but I think we have to be careful and apply a little context to what we read.  In other words, don’t simply take what an apparent expert says at face value  (or a part-time blogger for that matter!).  What the professionals do write may have a great deal of truth and application… for those it applies to.  Although we may share similar goals over time… that being to accumulate wealth, the context and relevance to each of our lives may be very different.我想我有一个竹篙每意见，我已阅读市场的策略和投资。短期，长期，技术，基础性，以计算机为基础的交易，编制索引，等是没有短缺的意见，当谈到钱！它的伟大有机会获得这么多的资料，这些天来，但我认为我们要小心，并采用小的背景下，以我们读到。换句话说，不只是采取什么明显的专家说，在面对值（或部分时间制的Blogger为此事！ ） 。什么专业人士做的写，可能有大量的真相与应用…对于那些适用，虽然我们可能有着相似的目标，随着时间的推移…作为积累财富，背景和相关的每一个我们的生活可能会很不同。

I read an article today from Investor’s Business Daily for example.  A great publication with an enormous amount of useful information in it.  The article I found today on the topic of investor education is called Cut Losses: Don’t Buy and Hold .  The author raises some valid points, but in my opinion does a poor job justifying the basis of the article beyond being sound advice for stock traders.  The end of the article shows a graphic that portrays how even “good stocks go bad” but uses examples such as Covad, Infospace, Iomega, Juniper Networks, etc.  All tech stocks… no dividend payers… no long-term, well established companies, no name-brand consumer companies that people have known for years.  In that I agree….我看过一篇文章，今天从投资者的日常业务，例如，一个伟大的出版与大量的有用的资料。文章我发现，今天的题目投资者教育是所谓的减亏：不要购买和持有 。作者提出了一些有效的点，但我认为没有不好的理由的基础上的文章以后被中肯的意见，为股市交易。月底的文章显示的图形描绘如何，甚至“好的股票去坏” ，但使用的例子如covad ， ， InfoSpace ，艾美加， Juniper网络等所有科技股…没有股息缴纳…没有长远的，以及成立的公司，没有名字的品牌消费产品公司的人都知道，多年来，在这我同意… 。 don’t buy and hold those tech companies!   Yet the title of the article may hit home with many investors who do buy and hold.  Does the author talk about the reasons investors may buy and hold?  Let’s use an example about someone who loves dividend stocks, bought them many years ago, and are now reaping dividends which have been reinvested over time.  Maybe that stock provides a nice income stream.  The author’s sell-side rule of 7%-8% down may be right on for a trader.  But it depends upon your goals… your strategy if you have one (you should!), and many other factors such as tax planning, financial needs, etc.不要购买和持有这些高科技公司！然而，文章标题可能击中首页与许多投资者谁做的购买和持有。请问作者谈论的原因，投资者可以购买和持有？让我们使用一个例子，关于有人谁爱股息股票，买了他们很多年前，和现在获得的股息已再随着时间的推移，也许股票提供了一个很好的收入流。作者的出售方的法治七％ -8 ％下降可能是正确的为一名商人，但它取决于您的目标…您的策略如果你有一（你应该！ ） ，以及其他许多因素，如税务规划，财政需要，等等。

Motley Fool hit the issue on the head for dividend investors in an article today called The Secret of Dividends .  The author, Shannon Zimmerman, uses an excellent example: motley傻瓜击中问题上的头部股息投资者在一篇文章中今天所谓的秘密分红 。作者，香农齐默尔曼，使用一个很好的例子：

“Between January 1926 and December 2006, 41% of the S&P 500’s total return was due not to the price appreciation of the stocks in the index, but to the dividends its companies paid out. “ 1926年1月和2006年12月，有41 ％的标准普尔500指数的总回报率不是因为价格赞赏的股票在该指数，但对股息，其公司支付。 That’s right — a cool 41%. 说的权利-酷4 1％ 。 On an annualized basis, that amounts to 4.4 percentage points. 对按年率计算，这相当于4.4个百分点。 To put it in dollars-and-cents terms, consider this: An investment of $10,000 over that stretch of time would have grown to $1,013,000 without dividends. 把它用美元和美分计算，考虑这个：一，投资1万美元较舒展的时间会已发展到一百〇一点三万美元没有分红。 With dividends kicked in and reinvested, however, that same sum would have been worth a whopping $24,113,000 by the end of the period.” 与股息踢和再投资，但是，同时总结会已经价值高达二千四百十一点三○○万美元由期结束“ 。

“Talk about the miracle of compound interest!” “谈论的奇迹复利” ！

Yet the IBD author states that, “One of the worst things that investors can do is let a winner turn into a loser.然而，鸡传染性法氏囊病的作者指出， “最严重的国家之一的事情，投资者可以做的是让赢家变成输家。 If you’re holding on to a profitable position, you’ll need to decide how much of your gains you are willing to give back.” Makes sense to a point (especially if you can’t afford to lose any money), and it is hard to argue with taking profits, no matter one’s strategy.  But sometimes the worst thing an investor can do is to sell a long-term winner, especially where dividends are concerned.  When a dividend-payer is down, even for a few years, the sheer function of reinvesting dividends over time buys more shares at a lower price.  I’m talking about top-notch companies like General Electric (GE) or Coca-Cola (KO).  Even these companies share prices may have gone nowhere for many years, but their income growth coupled with the dividend yield has made many investors wealthy over time.   Certainly there’s risk in any investment, and if the stock is down precisely during your retirement years, it may be hard to see any value and really hurt your bottom line.  But for quality, large-cap dividend payers, most investors have done very well over long periods of time.  And that’s one of my personal goals.  There’sa lot more to the dividend story of course.  Especially tax considerations where long-term gains are only taxed at 15% thanks to legislation in recent years.  That may change, but short-term gains (gains on assets held less than one year) are taxed as ordinary income, which may be pretty high depending on your tax bracket. 如果您持有，以一个有利可图的地位，您需要确定有多少您的收益，您愿意让回。 “是有道理的一个点（特别是如果你不能丧失任何金钱） ，和这是很难辩称，与获利回吐，不管一个人的策略，但有时最糟糕的事，投资者可以做的是出售一个长远的赢家，尤其是在股息关注。时，还富于民-付款人是下跌，甚至为几年后，单功能的再投资分红，随着时间的推移购买更多的股份以较低的价格。我谈到顶尖的公司，像通用电器（ GE ）或可口可乐（ KO ） ，即使这些公司的股票价格可能有经历了无处多年，但他们的收入增长，再加上股利收益率提出了许多富有的投资者，随着时间的推移，当然有风险，任何投资，如果股票下跌，正是在您退休多年，它可能不难看出，没有任何价值，真正伤害了你的底线，但对质量，大型股的股息缴纳，大部分投资者都做得非常好，超过很长一段时间。这是一个我个人的目标。有很多更多的股息的故事当然，特别是税收考虑的地方的长期收益，只是征税的15 ％ ，感谢立法在最近几年，这可能会改变，但短期收益（收益，持有的资产不少于一年）被征税作为普通收入，这可能是相当高取决于您的税级。

The IBD author does show his colors eventually, as well as his strategy and goals, when he says “Instead of buying and holding, let the market and sound trading rules decide when to sell.” If he’s talking about “sound trading rules” then he’sa stock trader… and more power to him.  But for those who do not trade stocks, for profit or pleasure, that advice may be ill-served.  Heck, I’ve traded many stocks and done very well at times.  The advice is on target where trading comes in, as I’ve also ruefully learned the hard way about holding on to winners too long, and then losers too long.  But not every investing mantra or headline is on target for how other other investors approach the market.  The IBD article could have done a better job exploring the pros and cons, and qualified the approach in terms of trading.  Just my two cents… and you know what that’s worth!该鸡传染性法氏囊病作者是否表现出他的颜色，最终，以及他的战略和目标，当他说“ ，而不是购买和持有，让市场和良好的贸易规则，决定何时出售， ”如果他的谈论“良好的贸易规则“然后他是股市交易… …和更多的权力给他。但对于那些谁不交易股票，是否出于营利或高兴，意见，可能是不明智的服务。赫克，我已经有很多买卖股票和做得非常好，在时代。意见是对的目标，哪里来在贸易，正如我也ruefully据悉，硬的方式对控股就得奖太长，然后输家太长，但并非每一个投资的口头禅或标题是对的目标，如何其他其他投资者接近市场。鸡传染性法氏囊病的文章可以做了更好的就业探索优点和缺点，以及合格的做法，在条件交易。刚才我的两个美分， … ，你知道是什么值得一提的！

Full Disclosure:  Long GE at time of writing.  No ownership in KO at time of writing. 充分披露：葛长的时间写作。没有所有权，在高，在时间写作。

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