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The Queen of Wall Street's Trading Cheats

Put on your headphones and enjoy podcast ~!
Society starts by doing a number on us. In households around this country today, little boys are being told to get to the top of the jungle gym, invest, become wealthy and become CEOs. Little girls are being told to be careful, not get their dress dirty, budget, and that they’re not good with money. Little boys today get more allowance for the same chores as little girls. They get better grades in math for the same answers at schools as little girls. When they look up, they see their mother budgeting, and they see their dad investing. Only in 2% of households the mom takes the lead in investing. In fact, it is an attractive female quality to be bad with money — it’s something that’s viewed as feminine.
We’re told that we’re risk-averse when it comes to investing, which is not true. We’re told that we’re not as good at investing as men — we are actually better. We’re told  that we need more financial education, which we do, but so do the guys.
“The reason why I love being here is that it’s not just talking about having more money for having more money’s sake, though, there’s nothing wrong with that. At its core, we all know that money is power, and that if we don’t have as much money as the guys do, we’re not going to be fully equal with them.“
——Sallie Krawcheck
In this article, learn how Sallie turned a career on Wall Street into a mission to get more money into the hands of women, why not enough women are investing and how we can narrow the gender investing gap by providing women with the right education and tools to become better investors.
Sallie Krawcheck is an inspiring female founder, one of the most influential women in business, and a Girlboss Rally speaker. Sallie has worked on Wall Street for most of her career and was regularly called “the most powerful woman on Wall Street.” She eventually became the CEO of Merrill Lynch, Smith Barney, US Trust, the Citi Private Bank, and Sanford C. Bernstein. She was also Chief Financial Officer of Citigroup. Over the course of her impressive career in the finance world, Sallie witnessed widespread sexism and disregard of women’s investing needs.
She’s now the CEO and Co-Founder of Ellevest, a digital investment platform built by women for women, and the chair of Ellevate Network, a global professional female network.
In this episode, learn how Sallie turned a career on Wall Street into a mission to get more money into the hands of women, why not enough women are investing and how we can narrow the gender investing gap by providing women with the right education and tools to become better investors.
People who keep their money in a standard savings or checking account and overlook investing have historically missed out on earning hundreds of thousands of dollars—for some women, millions of dollars. We know that women keep the majority of their money in the bank; meanwhile, more men are investing, and the wealth gap continues to grow. That means many women might be missing out on having the freedom to leave the job they hate, or the confidence to go for the job they really want. (Or break up with the person who no longer treats them as they deserve.)

Two truths about trading

While you don’t need to spend hours and hours studying before you invest, there are a few things you should know. First up, busting a few myths:
1.Trading isn't investing
You hear a lot these days from people who are buying stock in Bitcoin or GameStop. They say they’re investing. But that’s not investing: That’s trading…some might even say gambling. (It’s me. It’s me who says it’s gambling.)
That’s because trading without doing the research on what you’re buying means you’re placing a bet; it’s also placing a bet that the broader market is wrong. Being right like that—by betting against the wisdom of the stock market—is so hard to consistently do, that fewer than 0.1 percent of professional “active managers” (for whom this type of trading is their full-time job) consistently “win” over a five-year period.
Put another way, you know plenty of people—perhaps your grandparents—who have invested their way to a comfortable retirement. But I would guess you know almost none—and more likely exactly none, zero, zilch—who have traded their way to one.
Now, to be clear, I’m not saying don’t trade if you enjoy it; just don’t do it with money you can’t afford to lose.
2.The stock market doesn't go up and down
The second myth to be busted about investing is that most of us think that the stock market goes up and down, up and down. What’s more accurate is that it has historically gone up and down, but with an upward bias. In fact, the stock market has historically gone up by about 9.7 percent annually since the 1920s. Some years (like last year) it went up a good deal more, and other years it went down, sometimes by a lot. But, on average, it increased by 9.7 percent each year. This means had you invested in the stock market on any given day since the 1920s, and you kept your money there for 15 years, you had a 99 percent chance of a positive return (i.e. your money is making money).
This tells us that investing for the long term has historically been less risky than many of us think. And it’s actually been less risky to our financial standing than keeping our money in the bank, because that money—while safe—barely grows (sometimes, you might make small interest on it).
3.Which gets us to what you should know before investing.
No need to brace yourself, because it’s not a lot. we believe that the keys for successful investing are:

Invest in a range of investments

Think of stocks (in which you own a sliver of a company) or bonds (in which you are essentially making a loan to a company), and even real estate (which is, you know, real estate). Investing across a range of investments is called diversification, and it is the financial equivalent of not keeping all of your eggs in one basket.
1.Have more stocks in your investment portfolio
If you’re younger and your financial goals are further out. That’s because that gives you the opportunity to earn the higher returns that stocks have historically earned, but also allows you time to ride out any volatility in the market. The flip side of this is to invest more in bonds when you get older: They’ve had lower returns but haven’t had the big swings that stocks have had. 
2.Less is more when it comes to fees
I know that we have all learned that more expensive equals better quality. Not true in investing, where higher costs are taken right out of your investment account and can drain away your returns.
3.Less is more when it comes to taking action
Remember what we said about trading? And that people who trade a lot tend to do worse than people who trade less? After you have your diversified investment portfolio set up, it’s often much better to let that money sit and continue to grow until you need it—even during periods of market volatility.
4.Don't constantly check how your stocks are doing
It might stress you out. And, because checking your investment portfolio can make you want to do something…like trade it.
Finally, for long-term investors, the right way to invest is not to choose the right time to enter the market. As long as you invest a portion of every paycheck, whether it's 20% or even just 1%, as long as you stick to this investing habit, whether you buy high or occasionally low, the price will gradually fall over time and you'll eventually get a good market return.
So, no matter how much money you have lying around, start investing, especially if you're a woman who wants to be independent.


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Short Comments

  • 美股的長牛以及上行偏差太適合投資了。現在的利率環境,儲蓄不如隨便購買債券或者基金來的收益多。

  • In fact, now around more and more professional women began to learn investment and financial management. However, female investors in general are more cautious.

  • 很多投資理念不只對女性,對所有投資者都有參考價值。

  • In fact, women can do better than men in terms of investment.

  • To diversify investment trends, income must also be diversified!

  • This woman is different, Soros said long ago: Women are natural investors.


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