If you’re an ordinary person and investor, only faulty thinking and logic keeps you from investing for income. You too can turn investments into a positive cash flow that enhances your life now or in the future when you retire. This article will help you understand the common brainwashing holding you back. When the stock market goes down, ordinary investors must lose money — right? That’s what almost everybody assumes. Most people don’t even think about this. They just take for granted that down markets equal losing money. Some investors are sophisticated enough to know that some people make money by selling stocks short or through trading options. However, although they probably don’t understand all the details, they know — quite rightly — that using options and selling short are risky strategies. Even the pros quite often lose money on them. They’re not appropriate for ordinary people. So, in today’s stock market, ordinary investors are losing money, right? That’s true. “Ordinary” investors are losing lots of money. But some people — who are otherwise “ordinary” people — are NOT “ordinary” investors. They’re making money.
如果你是一个普通的人和投资者，只有错误的思考和逻辑会使你无法为收入投资。您也可以将投资转化为正现金流，以便在您退休时现在或将来增强您的生活。本文将帮助您了解阻碍您的常见洗脑。当股市下跌时，普通投资者必须赔钱 – 对吧？这几乎是每个人都认为的。大多数人甚至都没有想到这一点。他们只是理所当然地认为市场下跌等于赔钱。一些投资者足够精明，知道有些人通过卖空股票或通过交易期权来赚钱。然而，虽然他们可能不了解所有细节，但他们知道 – 非常正确 – 使用期权和卖空是风险策略。即使是专业人士也经常会亏钱。他们不适合普通人。那么，在今天的股市中，普通投资者正在赔钱，对吧？确实如此。 “普通”投资者正在损失大量资金。但有些人 – 不管是“普通”人 – 都不是“普通”投资者。他们赚钱了。
These people are cashing or reinvesting dividend checks. They own stocks that pay quarterly dividends. Many of these companies pay dividends because they appreciate their shareholders. Some of them are required by law to pay out 90% or more of their profits. Receiving quarterly checks to spend or reinvest should sound good to most everybody, but somehow this has gone out of fashion. So many investors think the ONLY way to make money in the stock market is to buy a stock today and later on sell it for a higher price. They may be day traders who want to sell it later today. Or short term traders who want to sell it next month. Or they may consider themselves responsible long term “investors” (please — NOT traders) who plan to hold on to the stock for at least twenty years. A lot of investment advisors seem to equate time with virtue. The longer you hold a stock, the “better” you are.
这些人正在兑现或再投资股息支票。 他们拥有支付季度股息的股票。 这些公司中的许多公司都支付股息，因为他们感谢股东。 法律要求其中一些人支付其90％或更多的利润。 接受季度支票花费或再投资应该对大多数人来说听起来不错，但不知怎的，这已经过时了。 如此多的投资者认为，在股票市场赚钱的唯一方法是今天买入股票，然后以更高的价格出售股票。 他们可能是想要在今天晚些时候出售它的日间交易者。 或者是想在下个月出售它的短期交易者。 或者他们可能认为自己负责长期“投资者”（请 – 不是交易员），他们计划持有至少20年的股票。 许多投资顾问似乎将时间与美德等同起来。 持有股票的时间越长，你就越“好”。
But the object is the same — make a profit when you sell. Good idea — only study after study verifies the Efficient Market Hypothesis. That is, it’s extremely difficult to pick out individual companies whose stock price will go up more than the market. Only a tiny percent of mutual fund managers, pension fund managers and stock picking gurus can beat the market in the long run. Dividends pay you a quarterly return of real money without having to sell your shares of stock, but we’re advised to ignore or discount dividends. By 1999, the S&P 500’s average dividend went below 1%, and this was considered a laughable return to people who’d seen their shares of Amazon and other high tech stocks double, triple or more in just a few years. Many ordinary investors didn’t try to get rich. No, they followed the advice of sober financial writers to buy and hold index funds, so they would profit as the stock market as a whole went up over the years. However, 9 years later, on June 27, 2008 the Dow Jones average stood at just 11,400 — 300 points BELOW its 1999 high of 11,700. And those are the big, quality companies. Many high tech and dot com stocks won’t see their 1999 prices again for another decade or two — if they’ve survived at all. Yet people who went for those laughable 1% dividends have cashed checks for the past nine years. And that 1% was the average of all S&P 500 stocks that pay any dividend at all. If an investor bought only the higher dividend paying stocks, they’re received substantially more. And if they bought only stocks in the Mergent index, their dividends have gone up every year. So, who’s laughing now? And what does the future hold for the market?
但目标是相同的 – 当你卖出时赚钱。好主意 – 只有在研究后才能验证有效市场假设。也就是说，挑选股票价格将超过市场的个别公司是极其困难的。从长远来看，只有极少数的共同基金经理，养老基金经理和选股大师可以击败市场。股息向您支付季度真实货币回报而无需出售您的股票，但我们建议忽略或折扣股息。到1999年，标准普尔500指数的平均股息低于1％，这被认为是对那些在短短几年内看到亚马逊和其他高科技股票增加一倍，三倍或更多的人的可笑回报。许多普通投资者并没有试图致富。不，他们遵循清醒的金融作家的建议购买和持有指数基金，因此随着股票市场整体上涨，他们将获利。然而，9年后，在2008年6月27日，道琼斯平均指数仅为11,400 – 300点，低于1999年的高点11,700点。那些是优质的大公司。许多高科技和网络公司的股票在未来十年或者两年内不会再看到他们1999年的价格 – 如果他们幸存下来的话。然而，那些为那些可笑的1％股息而获得奖金的人在过去的9年里已经获得了兑现支票。那1％是所有标准普尔500股票的平均价格。如果投资者只购买较高股息支付股票，那么它们的收益会更多。如果他们只购买Mergent指数中的股票，他们的股息每年都会上涨。那么，现在谁在笑？未来对市场有什么影响？
Of course, nobody knows for sure, but there is no sunshine and blue sky on the horizon. Instead, we see — 1. Rising oil and other energy prices — with political unrest, war and possible war with Iran threatening to move the price of oil even higher. 2. Rising gold and silver prices. 3. The sinking U.S. dollar. 4. We’re going into a U.S. presidential election — and the leading candidate wants to eliminate the tax cuts that fueled the prosperity we’ve experienced since 2003 and pass new entitlement programs estimated to add $1 trillion to our budget. 5. The baby boomer generation has started to retire, which will place enormous strains on the Social Security and Medicare trust funds, take experienced labor out of the economy and depress stock and bond prices as they sell off their portfolios. 6. Terrorists still want to convert the entire world to their version of Islam. Buying and holding the market doesn’t look too promising an investment strategy at the moment. Picking individual stocks is nearly impossible on a long term basis. Investing for income is the remaining choice. Pick stocks that pay dividends, and receive checks while we all wait for better times.
当然，没有人确切知道，但地平线上没有阳光和蓝天。相反，我们看到 – 1.石油和其他能源价格上涨 – 政治动荡，战争和可能与伊朗的战争威胁着石油价格进一步上涨。 2.黄金和白银价格上涨。美元贬值。 4.我们正在参加美国总统大选 – 这位领先的候选人希望取消推动我们自2003年以来经历的繁荣的减税政策，并通过新的权利计划，预计将为我们的预算增加1万亿美元。 5.婴儿潮一代已经开始退休，这将对社会保障和医疗保险信托基金造成巨大压力，将经验丰富的劳动力从经济中剔除，并在出售其投资组合时压低股票和债券价格。 6.恐怖分子仍然希望将整个世界转变为他们的伊斯兰教版本。购买和持有市场目前的投资策略看起来并不太乐观。从长远来看，挑选个股几乎是不可能的。投资收入是剩下的选择。选择支付股息的股票，并在我们都等待更好的时候接收支票。