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| Stocks Versus Other Investments |
Stocks 100
Get in on the ground floor of stock investing by learning how stocks work and what it means to be a shareholder.
Course 101:
Stocks Versus Other Investments
We all have financial goals in life: to pay for college for our children, to be able to retire by a reasonable age, to buy the things we want. Unfortunately, spending less than we earn is typically not enough for us to reach our goals. We have to do more; we have to invest our savings and put our money to work. Stocks are quite simply one of the best ways to make your investment dollars work the hardest.
Investing in stocks is not rocket science. The only real characteristics shared among successful stock investors are basic math skills, a critical eye, patience, and discipline. Combine these with an understanding of how money flows and how businesses compete with one another, along with a dash of accounting knowledge, and you have all the mental tools needed to get started. We will teach you all these in this workbook series.
Although you don't need an advanced college degree to invest in stocks, selecting stocks is nevertheless an intellectual exercise. It requires effort, but it can bear many fruits. After all, investing in stocks not only leads to potentially higher returns on your investment dollars, it also leads to a greater understanding of how the world works.
What Is a Stock?
Perhaps the most common misperception among new investors is that stocks are simply pieces of paper to be traded. This is simply not the case. In stock investing, trading is a means, not an end. A stock is an ownership interest in a company. A business is started by a person or small group of people who put their money in. How much of the business each founder owns is a function of how much money each invested. At this point, the company is considered "private." Once a business reaches a certain size, the company may decide to "go public" and sell a chunk of itself to the investing public. This is how stocks are created. When you buy a stock, you become a business owner. Period. Over the long term, the value of that ownership stake will rise and fall according to the success of the underlying business. The better the business does, the more your ownership stake will be worth.
Why Invest in Stocks?
Stocks are but one of many possible ways to invest your hard-earned money. Why choose stocks instead of other options, such as bonds, rare coins, or antique sports cars? Quite simply, the reason that savvy investors invest in stocks is that they provide the highest potential returns. And over the long term, no other type of investment tends to perform better. On the downside, stocks tend to be the most volatile investments. This means that the value of stocks can drop in the short term. Sometimes stock prices may fall for a protracted period. For instance, those who put all their savings in stocks in early 2000 are probably still underwater today. Bad luck or bad timing can easily sink your returns, but you can minimize this by taking a long-term investing approach. There's also no guarantee you will actually realize any sort of positive return. If you have the misfortune of consistently picking stocks that decline in value, you can lose money, even over the long term! Of course, we think that by educating yourself and using the knowledge in this Investing Classroom, you can make the risk acceptable relative to your expected reward. We will help you pick the right businesses to own and help you spot the ones to avoid. Again, this effort is well worth it, because over the long haul, your money can work harder for you in equities than in just about any other investment.
Your Investment Choices
Let's see how stocks stack up to some of your other investment options:
Mutual Funds. Stock mutual funds can offer similar returns to investing in stocks on your own, but without all the extra work. When you invest in a fund, your money is pooled with that of other investors, and then it is managed by a group of professionals who try to earn a return by selecting stocks for the pool. Beyond requiring much less effort, one key advantage of funds is that they can be less volatile.
Simple statistics says that a portfolio is going to experience less volatility than the individual components of the portfolio. After all, individual stocks can and sometimes do go to zero, but if a mutual fund held 50 stocks, it would be very unlikely that all 50 of those stocks become worthless. The flipside of this reduced volatility is that fund returns can be muted relative to individual stocks.
In investing, risk and return are intimately correlated—reduce one, and odds are you will reduce the other. Another disadvantage to offloading all the effort of picking individual stocks is that you must pay someone else for this service. The professionals running mutual funds do not do so for free. They charge fees, and fees eat into returns. Plus, the more money you have invested in mutual funds, the larger the absolute value of fees you will pay every year. For instance, paying 1% a year in fees on a $1,000 portfolio is not a big deal, but it's a much larger deal if the portfolio is worth $500,000.
In the past, mutual funds often made the most sense for those with relatively small amounts to invest because they were the most cost-efficient. But with the advent of $10 (or less) per-trade commissions on stocks, this is no longer necessarily the case. Just as picking the wrong stock is a risk, so is picking the wrong fund. What if the group of people you selected to manage your investment does not perform well? Just like stocks, there is no guarantee of a return in mutual funds.
It's also worth noting that investing in a mix of mutual funds and stocks can be a perfectly prudent strategy. Stocks versus funds (or any other investment vehicle) need not be an either/or proposition.
Bonds. At their most basic, bonds are loans. When you buy a bond, you become a lender to an institution, and that institution pays you interest. As long as the institution does not go bankrupt, it will also pay back the principal on the bond, but no more than the principal. There are two basic types of bonds: government bonds and corporate bonds. U.S. government bonds (otherwise known as T-bills or Treasuries) are issued and guaranteed by Uncle Sam. They typically offer a modest return with low risk. Corporate bonds are issued by companies and carry a higher degree of risk (should the company default) as well as return. Bond investors must also consider interest rate risk. When prevailing interest rates rise, the market value of existing bonds tends to fall. (The opposite is also true.)
The only way to alleviate interest rate risk is by holding the bond to maturity. Investing in corporate bonds also tends to require just as much homework as stock investing, yet bonds generally have lower returns. Given their lower risk, there is certainly a place for bonds or bond mutual funds in most portfolios, but their relative safety comes with the price of lower expected returns compared with stocks over the long term.
Real Estate. Most people's homes are indeed their largest investments. We all have to live somewhere, and a happy side effect is that real estate tends to appreciate in value over time. But if you are going to use real estate as a true investment vehicle by buying a second home, a piece of land, or a rental property, it's important to keep the following in mind. First, despite the exceptionally strong appreciation real estate values have had the past several years, real estate can and does occasionally decline in value.
Second, real estate taxes will constantly eat into returns. Third, real estate owners must worry about physically maintaining their properties or must pay someone else to do it. Likewise, they often must deal with tenants and collect rents. Finally, real estate is rather illiquid and takes time to sell—a potential problem if you need your money back quickly. Some people do nothing but invest their savings in real estate and do quite well. But just as stock investing requires effort, so does real estate investing.
Bank Savings Accounts. The problem with bank savings accounts and certificates of deposit is that they offer very low returns. The upside is that there is essentially zero risk in these investment vehicles, and your principal is protected. These types of accounts are fine as rainy-day funds—a place to park money for short-term spending needs or for an emergency. But they really should not be viewed as long-term investment vehicles. The low returns of these investments are a problem because of inflation. For instance, if you get a 3% return on a savings account, but inflation is also dropping the buying power of your dollar by 3% a year, you really aren't making any money. Your real return (return adjusted for inflation) is zero, meaning that your money is not really working for you.
The Bottom Line
Though investing in stocks may indeed require more work and carry a higher degree of risk compared with other investment opportunities, you cannot ignore the higher potential return that stocks provide. And as we will show in the next lesson, given enough time, a slightly higher return on your investments can lead to dramatically larger dollar sums for whatever your financial goals in life may be.
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新手上路
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UID: 100
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金钱: 6.60
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| 回复：Stocks Versus Other Investments |
股市100get于地下的股权投资学习如何储存工作意味着什么 是股东. 课程101:股票与其他投资,我们都财政生命的目标: 以支付大学为我们的孩子,为了能够退休,由一个合理的年龄 来买我们想要的东西. 可惜,这方面的开支少于我们赚通常是不够的,我们要达到我们的目标. 我们必须做更多的努力; 我们要投资,我们的储蓄存款,并且把我们的钱给的工作. 股市是很简单的最佳途径之一,使您投资计工作最辛苦的. 投资股票并不是火箭科学. 唯一真正的特点,共享成功的股票投资者是基本的数学技能,一丝不苟的态度,耐心和纪律. 结合这些问题,了解如何使用金钱流动,以及如何企业互相竞争, 随着938会计知识,而大家也都心理需要的工具开始. 我们会教你所有这些在本workbook系列. 虽然你不需要一个先进的大学学位,投资股票,选股毕竟只是一种智力活动. 它需要努力,但它可以承受许多水果. 毕竟,投资股票,不仅导致潜在的高收益,您的投资计, 这也导致了更多的了解世界怎样. 什么是股票? 也许是最常见的错误在新的投资者,股票只是纸上进行交易. 这完全不是这么回事. 在股市投资,贸易是一种手段,而不是目的. 股票是所有者权益的一家公司. 一个企业是由一个人或少数人把自己的资金.多少 企业创办每个拥有它的作用是多少钱每投入. 在这一点上,公司被视为是"私人" 一旦业务达到了一定规模, 该公司可决定"上市",卖一大块本身的投资大众. 这是怎样的股票创造条件. 当你买一个股票,你会变成一个老板. 7. 从长远来看, 价值,股权将兴亡根据成功的基本业务. 好生意,越贵股权将物有所值. 为什么投资股票? 股票,但其中有很多可能的方式来投资你的血汗钱. 为什么选择股票而不是其他的选择,如债券,珍稀钱币,或体育古董车? 原因很简单,因为那时的投资者投资于股票,是他们提供最高的潜在效益. 并从长远来看,根本没有其他类型的投资都会有更好的表现. 在缺点方面,股市也往往是最不稳定的投资. 这意味着,股票价值下降,可在短期内完成. 有时股价可能属于一个漫长的时期. 举例来说,这些人把所有积蓄的股票在2000年初有可能仍在水下今天. 运气不好或坏的时机,容易洗涤你的回报, 但是你可以减少这种以长期投资方式. 此外,这里也不能保证你会明白,其实任何一种正面回报. 如果你已经很不幸地采摘股票价值下降,您可以亏钱, 甚至在长远! 当然,我们认为教育自己和使用知识,在此投资课堂 你可以接受的风险相对你的预期报酬. 我们将帮助您选择合适的企业本身并帮助您现场去避免. 再次,这种努力是值得的,因为从长远观点看, 你的钱能够更加努力地工作,为你们在股票上,比刚刚任何其他投资. 您的投资选择,让我们看看股票栈到你的一些其他投资选择:互助基金. 股票共同基金也提供了类似的收益,投资于股票要靠自己,但所有的额外工作. 当你投资一个基金,你的钱是集合,与其他投资者 然后,它由一组专业人士设法赚取利润的选股作 泳池. 以后要少得多的努力,其中一个重要的优势是资金,他们可以较少波动. 简单的统计称,投资组合也将经历波动较小不是个别组件的组合. 毕竟,个人股可以而且有时确实到零,但是如果一个共同基金举行了50股, 这是极不可能的,即所有50这些股票变得一文不值. 在flipside这次降低波动就是基金报酬可以相对低调个别股票. 投资风险和回报,是密切相关-减少一个,赔率为你将减少等. 另一个不利的剥离所有的努力,采个别股票是你必须付出别人为此 服务. 专业运行互助基金不这样做的自由. 他们收取学费,学费吃成回报. 再加上,更多的钱,你投资在互惠基金 较大的绝对值费你会付出每年. 比如,缴纳1%年费一千元组合,并不是什么大不了的事, 但它的大得多,如果处理组合是50万元. 在过去, 互助基金,往往最适合那些有相对少量的投资,因为他们是最 划算. 但是随着十元(或以下),每交易佣金的股票,这已不再是必然的. 就像拣错股票的风险,所以是各取所需,错基金. 假如那一群人,你挑选来管理你的投资并不干不好? 就像股票,谁也不能保证一个回报互助基金. 这也是值得注意的是,投资组合的共同基金及股票可以是一个绝对谨慎的策略. 股票与基金(或任何其他投资工具)不需要进行/或命题. 债券. 在其最基本的,债券是贷款. 当你购买债券,你会变成一位放款机构,该机构付给您利息. 只要机构不破产,它还将偿还本金的债券, 但最多不得超过本金. 有两个基本类型的债券:政府债券和公司债券. 美国政府债券(又称T型票据或债券)的发行和担保的大叔. 他们通常提供一个适度的利润,以降低风险. 公司债券的发行由公司和带有较高程度的风险(如公司违约),以及 返回. 债券投资者还必须考虑利率风险. 当利率上升时,市场价值现有债券趋于下降. (反过来也一样). 唯一的方法,以减轻利率风险是持有债券到期. 投资公司债券也往往需要一样功课,作为股权投资, 但债券一般都较低回报. 由于其风险较低,有一定的地方债券或债券共同基金在多数组合 但它们的相对安全于不顾的价格较低,预期利润与股市的长期发展. 房地产. 大多数人的家园的确是他们的最大投资. 我们都住某处, 而一个快乐的副作用是房地产趋向升值一段时间. 不过,如果你是想利用房地产作为一个真正的投资工具,购买的第二故乡, 一块土地,或租用财产,更重要的要记住以下几点. 首先,尽管异常强劲升值的房地产价值已经过去的几年中, 房地产确实能够偶尔价值下降. 其次,房地产税将不断侵蚀利润. 第三,房地产业主必须担心身体保持其性能还是要别人做. 同样,他们往往必须处理住户及收取租金. 最后,房地产业是相当缺乏流动资金而需要时间去卖一个潜在的问题,如果你需要奉还很快. 有些人无奈地积蓄投资于房地产,并做的不错. 但正如股票投资者需要努力,那么,房地产投资. 银行储蓄帐户. 问题与银行储蓄账户和存单的是,他们所提供的收益却很低. 好处是,基本上是零风险,这些投资工具,而你的主要保障. 这些类型的帐户是罚款雨天一天资金,这是地方公园的钱用于短期支出需要,或是出于 紧急. 但他们真的不应该被视为长期投资工具. 回报率低,这些投资是个问题,因为通货膨胀. 举例来说,如果你得到3%的回报储蓄帐户, 但通货膨胀率也下降的购买力,贵价的3%的水平, 你真的就没有取得任何金钱. 你真正的回报(回报扣除通货膨胀因素)却是零,这意味着你的钱是不是真的在为你工作. 底线虽然股票投资可能确实需要更多的工作,并进行了更高程度的风险比 与其他投资机会,也不能忽视的潜力较高的回报,股票提供. 正如我们将显示,在未来的教训,给予足够的时间, 略高回报,你的投资可以导致极大,美元款项,为您的财政目标 生命的可能.
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