我們常說(shuō),太容易得到的東西往往不被珍惜。這句話用在投資領(lǐng)域,也是適用的。在股票市場(chǎng)和賭場(chǎng)里,不費(fèi)吹灰之力得來(lái)的利潤(rùn)往往會(huì)讓人更愛(ài)冒險(xiǎn)。
House money effect refers to the premise that people are more willing to take risks with money they obtained easily or unexpectedly.
“賭場(chǎng)贏利效應(yīng)”指人們拿著易來(lái)之財(cái)或者意外之財(cái)時(shí)更愿意采取一些冒險(xiǎn)的投資方式。
Investors who have experienced a gain or profit are often willing to take more risk. Gamblers call this “playing with the house’s money.” Since they don’t yet consider the money to be their own, they are willing to take more risk with it.
已經(jīng)有所收益的投資者通常都愿意繼續(xù)冒險(xiǎn)。賭徒們管這叫“玩賭場(chǎng)的錢(qián)”。因?yàn)樗麄冞€沒(méi)有把剛剛贏得的錢(qián)當(dāng)成自己的錢(qián),所以愿意拿這些錢(qián)冒更多的險(xiǎn)。
The house money effect predicts investors will be more likely to purchase risky stocks after closing out a profitable trade. Behavioral finance theory suggests that overcoming this bias may help investors profit more over the long term.
從這一效應(yīng)可以預(yù)知,投資者從上一筆交易中獲利后更傾向于購(gòu)買(mǎi)一些冒險(xiǎn)型的股票。行為金融理論提示,克服這種心理可以幫助投資者長(zhǎng)期獲利。
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