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中长期看,股市的回报与GDP增长大体相当。扣除税费和频繁买卖错过的机会,多数股民只能得到百分之几的年均回报虽然短暂,中国股市的历史也快20年了,大多数股民的股龄也有10年以上。我们得到了什么?学到了什么?我认为,我们该反省了,变一变行为方式。本人从1994年进入香港股市的第一天,就不自觉地承担了“教师”角色,1998年以来一直担任研究部主管,获奖颇多。但我越来越发现自己其实
In the medium to long run, the return on the stock market is roughly equal to the GDP growth. Excluding taxes and fees and frequent trading mistakes, the majority of investors only get a few percent of the average annual returns. Although short, the history of China’s stock market has almost 20 years, and most shareholders have more than 10 years of age. What did we get? What did we learn? I think we should reflect on and change behavior. Since I first entered the Hong Kong stock market in 1994, I unconsciously assumed the role of “teacher” and has been the head of research department since 1998, winning a lot of awards. But I find myself more and more