给暴富的心泼一盆冷水

Core Viewpoint - The article emphasizes the importance of long-term investment strategies and the reality of stock market returns, highlighting that a 10-year investment yielding a 6.6% annualized return is commendable in a challenging market environment [2]. Group 1: Investment Philosophy - The author believes in the viability of value investing, which was reinforced by early exposure to literature on Warren Buffett, leading to sustained enthusiasm for investing despite initial losses [3]. - The author maintains realistic expectations, recognizing that a long-term annualized return of over 12% is exceptional, which helps in avoiding emotional reactions to market fluctuations [3]. - The article advises against following market fads and emphasizes the importance of understanding one's investment capabilities, with the author having never invested in high-risk sectors like the ChiNext board [3][4]. Group 2: Investment Strategy - The author prefers to invest in large-cap companies during market downturns or when negative events occur, as these companies tend to have stable operations and better control over market volatility [4]. - The strategy includes avoiding high-risk financing and frequent trading, focusing instead on earning from business operations and benefiting from dividends, which provides a steady cash flow for reinvestment [4]. - The article introduces the "雪球三分法" (Snowball Three-Part Method), which advocates for long-term investment and asset allocation through diversification across assets, markets, and timing to achieve diversified returns and risk mitigation [5].