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月初的截图：",[128,165,166],{},[167,168],"img",{"alt":169,"src":170},"longmen.web.snapshot.tb","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002Flongmen.web.snapshot.tb.png",[128,172,173],{},"为了使用这个数据作为定投的例子，我们只取每个月的数据看一看：",[128,175,176],{},[167,177],{"alt":178,"src":179},"longmen.smiling.curve.tb","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002Flongmen.smiling.curve.tb.png",[128,181,182],{},"假设你从 2018 年 9 月开始，每月定投龙门资本 1,000 美元，一直定投了 11 个月…… 那么，数据大抵如下：",[128,184,185],{},[167,186],{"alt":187,"src":188},"longmen.data","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002Flongmen.data.tb.png",[128,190,191,192,195],{},"也就是说，在每月定投的情况下，你会错过最高点，2019 年 6 月 25 日的 $92 美金；你也会错过最低点，2018 年 12 月 15 日的 $23…… 但，最终你的均价为 $54，而当前价格差不多 $85 左右。11 个月后，你累计投资了 $11,000；而你现在的账面价值是 $19,141.44 —— 即便这是按照你最后一次定投时的价格，$82 —— 竟然还比上一个月跌了 $1…… 然而，你的收益率已经足足有 ",[138,193,194],{},"74.01%"," 了！",[128,197,198],{},"看以下配图，你能更清楚地看到你所投入的本金和当前收益的关系：",[128,200,201],{},[167,202],{"alt":203,"src":204},"longmen.regular.investing.tb","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002Flongmen.regular.investing.tb.png",[128,206,207],{},"在以上龙门基金的 11 个月的数据之中，价格曲线画出了一个迷人的 “微笑曲线”。",[128,209,210],{},[167,211],{"alt":212,"src":213},"smilingCurve","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002FsmilingCurve.png",[128,215,216,217,220,221,224],{},"市场上采取定投策略的人永远是少数，而上面这个所谓的 “",[138,218,219],{},"微笑曲线","”，对并未采取定投策略的人来说，很可能是截然相反的 “",[138,222,223],{},"猥琐曲线","”。那绝对不是一张善意的笑脸，而是一张你在蝙蝠侠故事里见到过的那个小丑的邪恶的笑脸 —— 他的嘴里还在阴森地嘟囔着：“Why so serious?”",[128,226,227],{},[167,228],{"alt":229,"src":230},"jokersFace","https:\u002F\u002Fraw.githubusercontent.com\u002Fxiaolai\u002Fregular-investing-in-box\u002Fmaster\u002Fimages\u002FjokersFace.png",[128,232,233,234,237,238,240],{},"现在再看看数据，假设，你的投资方式是绝大多数人爱干的那种，所谓的“一把梭”…… 那么，你在 2018 年的 9 月份一把梭进去 $11,000 美元，然后拿到 11 个月后，倒也没有赔，因为你会有大约 ",[138,235,236],{},"10.81%"," 的收益！—— 虽然比 ",[138,239,194],{}," 差远了，可毕竟没有赔啊！",[128,242,243],{},"然而，按照你那特爱一把梭的属性来看，你能一路拿到 11 个月之后的可能性其实并不大。为什么呢？对一把梭的人来说，这个曲线绝对是猥琐曲线。",[128,245,246],{},"别说接下来的每个月了，接下来的每一天、每时每刻，你都会痛苦万分焦虑不已。在接下来的整整半年之内，你唯一的感受就是你的资产在每分每秒地缩水。",[128,248,249],{},"痛苦和快乐并不是对称的。我们的基因决定我们的感受。赔掉 10 块钱的痛苦远远大于赚到 10 块钱的快乐。你那感觉绝对就好像是正在被那个邪恶的小丑蹂躏，并且看着他吐吐舌头，听着他阴森地嘟囔，干嘛那么当回事儿啊……",[128,251,252],{},"如果你是采用定投方式的投资人，那么你所身处的完全是另外一个世界 —— 虽然它们看起来一模一样，虽然除了你之外绝大多数人根本无法体会你的感受，因为所有的感受都是截然相反的。",[128,254,255,258],{},[138,256,257],{},"定投是使用自己的长期去支持的行为。"," 所以，既然赌上了自己的未来，那么，在选择的时候就经过了深思熟虑。于是，第一次买入之后产生的价格下跌，对你来说每一次下跌都是降低均价的时机。一把梭的人在那里体验着寒冬，瑟瑟发抖，你却截然相反，你神清气爽，你为你又增加了更多的低价筹码而倍感幸福……",[128,260,261],{},"一把梭的人忍受不了太久的痛苦 —— 事实上，任何人都无法长期承受痛苦。这跟所谓的“坚强”完全没有任何关系。从另外一个角度来看，这也不是愚笨，这只是愚昧。在一个月的痛苦之后，或者两个月、或者三个月，甚至在事后看来眼看就要挺过去了的时候，即，在第六个月的时候（或者之前），很多人会基于种种原因离场 —— 交易市场上把这种行为称为“割肉”…… 你看，韭菜都是自己割自己的，并且割下来的都是血淋淋的肉。",[128,263,264,265,268],{},"定投的你呢？你在坚持吗？没有啊！本来就应该那样啊！如果在这过程中，你看着低价筹码却被人拦着不让你买，你会跟他拼的 —— 挡人财路，犹如杀人父母。你说是不是？你冷吗？你瑟瑟发抖吗？你感受不到啊！你兴奋着呢，每次定投都很兴奋，因为每次均价降低都相当于是“",[138,266,267],{},"向前平移了你的入场时间","” —— 你才不会像很多半吊子那样天天懊恼，“唉！我要是早知道就好了！” 或者 “我怎么才知道呢？” 他们总而言之就是觉得自己来晚了…… 你不一样，你知道你的行为正在把自己的相对入场时间不断提前。",[128,270,271],{},"六个月后，价格开始缓慢爬升了…… 你以为当初割肉离场的人会这个时候冲进来一把梭吗？不会的。他们怕死了 —— 之前生不如死的经历会让他们对恐惧的预期更为强烈。于是，几乎百分之百概率发生的事情是，他们在犹豫之中，手中没有任何筹码地眼睁睁看着价格上涨…… 跌的时候他们正是因为怕死了才跑的，现在涨的时候他们更害怕 —— 直到他们的情绪崩溃，可能价格已经很高了，就要开始下一个猥琐曲线的时候，他们竟然又入场了……",[128,273,274],{},"对他们来说，轮回是非常可怕的，因为无论他们如何做，他们感受到的都是恶意满满的世界。有了之前的讲解，现在解释起来就很简单，因为对他们来说，任何投资标的的价格曲线，都是由无数个猥琐曲线构成的。你说这样的命运有多么可怕？",[128,276,277],{},"你看，明明是同样的世界，人们却可能感受截然相反，这是不是很神奇？如果你是采取定投策略的人，那么，一瞬间，同样的世界对你来说是另外一个样子，因为你所面对的价格曲线是由无数个微笑曲线构成的！这世界，幸福本来就是罕见稀缺的。我就问你，这种不可向人诉说的幸福是不是更稀缺更宝贵？",{"title":279,"searchDepth":280,"depth":280,"links":281},"",2,[282],{"id":125,"depth":280,"text":126},null,"《定投改变命运》第 3 章：普通人投资的唯一正确方式就是定投。","md",{},true,{"title":23,"description":284},"QICMdC0MumyLlOAt5CgjSspUKK_UL5KQVNuBRpN1uBM",[291,293],{"title":19,"path":20,"stem":21,"description":292,"children":-1},"《定投改变命运》第 2 章：证券交易市场是世界第九大奇迹。",{"title":27,"path":28,"stem":29,"description":294,"children":-1},"《定投改变命运》第 4 章：究竟有没有只涨不跌的投资标的。",1781671116631]