The Taoist thinking that ordinary retail investors should have in investment and financial management 普通散户投资理财应有的道家思维
Recently, China's generative AI star DeepSeek has become popular in the world, triggering large fluctuations in the Nasdaq index and Nvidia's stock price, and a large number of shareholders have mood swings and even sleepless nights.
The author has been engaged in international economic and political reporting and research for a long time, and has had many exchanges with the business and investment circles, and has also seen and heard many people who have experienced rollercoaster market adjustments again and again, and attach great importance to mentality.
Just as Lao Tzu rode a bull to the west, he left the "Tao Te Ching" in Hangu Pass: "To the extreme, keep quiet, all things are done together, I look at its recovery." "
The hearts of the world are obsessed with a bull market. Mind cultivation is important to market makers, and it is equally important to a large number of ordinary retail investors, which is universal in the securities market. For ordinary retail investors, due to their poor ability to resist risks, it is more important to adjust their mentality.
Retail investors' investment and wealth management should focus on cross-market and cross-asset global asset allocation, invest in multiple mainstream index funds for a long time, and trade at a low frequency when some stock prices fluctuate.
In this process, people should try to maintain inner peace and emptiness, not be limited by a narrow investment vision, and not be disturbed by short-term market fluctuations.
Global asset allocation is the embodiment of the Taoist holistic view. Lao Tzu pointed out that "man is the law of the earth, the earth is the law of the sky, the heaven is the law of the Tao, and the Tao is the law of nature", and the Taoist philosophy is "Tao-centrism" rather than "self-centeredness", which is a kind of thinking that looks at the universe from the outside of the sky, and advocates looking at things from the perspective of the whole and the overall situation, and avoids the perspective and emotional fluctuations of the frog in the well of people sitting in the well and watching the sky as much as possible.
Wealth management can be diversified into different countries and different asset classes, such as China, the United States, Hong Kong, Singapore, Japan, Vietnam, India, etc., and stocks, bonds, funds, gold, virtual currencies and other asset classes.
This can reduce the impact of the volatility of a single asset on the overall asset portfolio and achieve steady asset growth.
Many ordinary retail investors uphold the "self-centered" thinking, like silkworms eating mulberry leaves, they are accustomed to only playing their own stock market, psychologically close to the company, even if the country's stock market, these companies are a mess and are obsessed.
They feel that global asset allocation is very troublesome, they don't understand, they want to make money and save trouble, and they would rather be harvested as leeks than learn.
Some people bring their love or hatred for a certain country or company with their investment and financial management, and use emotions to dissolve rational decisions that should be aimed at commercial profits.
Long-term regular investment is a reflection of the Taoist idea of "doing nothing and doing nothing". Geniuses are always very few, and luck is only a small probability event, and from a historical point of view, the cost of doing things is far less than that of doing nothing.
In the stock market, people who keep an eye on the market every day and frequently buy and sell are rarely profitable. For ordinary retail investors, don't think you're smart, you can definitely defeat nature and fight the heavens and the earth, which is foolish.
The vast majority of people should remain humble, recognize their limitations, learn with an open mind, and not act rashly, which is the rational approach.
In the early days of China's property boom, ordinary people could buy houses in first- and second-tier cities at low cost, and if they invested the same amount of money in their third- and fourth-tier cities, the income gap would be geometric.
In some countries, the economy has been growing at a high rate for a long time, but the stock market has been sluggish for a long time, leaving most investors trapped and losing money for a long time. This is not the case with the stock markets of some countries. For ordinary people to make money, the prudent way is to stay away from all kinds of bad stock markets, and focus on value investing in a relatively healthy and prosperous market.
Like some mainstream index funds in the world's major markets, the overall risk is very small, and ordinary retail investors can consider it as a long-term path of slow and stable profits.
Through long-term regular investment, people are like forcing themselves to save regularly, regularly take out spare money to buy, abandon the irrational appeal of getting rich overnight, and achieve what Lao Tzu said, "less selfishness and few desires, no worries about learning".
Trading a small amount at the right time when the market is volatile is the practice of Taoism's "movement against the Tao". "Tao Te Ching" says that "the movement of the opposite way", the economy has cycles, opportunities will always be there, the tide rises and falls, and the cycle continues. With this movement, the imbalances that occurred in the previous cycle are balanced.
When the investment layout is made, an investment ratio is set across markets and asset classes for long-term fixed investment. Over time, due to changes in the market, the proportion of assets in this total asset will deviate more and more from the original intention.
In this regard, some people need to adjust this layout, which should be based on their long-term investment analysis and perception; However, some are more reasonable in layout, so it is necessary to correct the proportion of assets.
Since long-term regular investment is to make money in the future, and market fluctuations are the norm, in the event of stock price adjustment, you can also make certain transactions, as an auxiliary to the main line strategy of long-term regular investment, and make money from this period of volatility. This kind of buying and selling is also a correction of the proportion of assets.
In a bear market, buying stocks at the bottom and cashing out when the stock price is crazy requires enough patience and concentration, calmness and open-mindedness, which is exactly what practitioners advocate to be able to calm down and be free and easy.
This returns to Lao Tzu's emphasis on "to the extreme, to keep quiet, all things to do at the same time, I look at its recovery", that is, the importance of mentality in the process of investment and financial management.
In short, no matter how big or small the investment is, it is necessary to set a basic and reasonable annualized rate of return and stop loss point, and understand what Lao Tzu said, "contentment will not be humiliated, and knowledge will not be lost, and it can last for a long time".
In the Tao Te Ching, it is said that "there is no greater evil than discontentment, and no sin is greater than greed." If you blindly pursue higher returns in investment, and do not know how to be satisfied, even if you have more principal and greater returns, there is a great risk of loss.
The fate of all things has God's arrangement, the small rich can rely on the struggle, the big rich depends on the fate after all, people should not forcibly pursue what does not belong to themselves, but also be content with the part of the fate that belongs to them.
If we can adhere to Taoist thinking, persevere, achieve cross-market and cross-asset global asset allocation, invest in the world's mainstream index funds for a long time, and trade a small amount in a timely manner when the market fluctuates, although ordinary people cannot be rich, they can still improve a certain quality of life.
近日，中国生成式AI新星DeepSeek爆红世界，引发纳斯达克指数和英伟达股价大幅波动，更有大量股民情绪波动，甚至有不眠之夜。
笔者原长期从事国际财经时政的报道和研究工作，和企业界、投资界多有交流，也见闻过很多人经历一次次过山车式的市场调整，对心态极为重视，其中不乏修道参禅者，因为情绪化决策是盈利的大敌。
正如老子在骑牛西去，于函谷关留下《道德经》所言："致虚极，守静笃，万物并作，吾以观其复。"
世人心心念念于牛市。修心对庄家重要，对海量的普通散户同样重要，这在证券市场上是普适的。于普通散户而言，由于抗风险能力差，心态调整更为重要。
散户的投资理财更应侧重于跨市场、跨资产大类的全球资产配置，长期定投多个主流的指数基金，并在有的股价波动之际适时少量交易。
在这个过程中，人要尽量保持内心的平静与虚空，不为狭隘的投资视野所局限，不被短期的市场波动所干扰。
全球资产配置是道家全面观的体现。老子指出"人法地、地法天、天法道、道法自然"，道家哲学是"道中心论"而非"我中心论"，是一种从天外看宇内的思维，主张从整体和全局的角度看待事物，尽可能规避人的井蛙视角和情绪波动。
理财可以分散投资于不同国家、不同资产类别，如中国、美国、中国香港、新加坡、日本、越南、印度等的资本市场，和股票、债券、基金、黄金、虚拟货币等不同资产大类。
这样可以降低单一资产波动对整体资产组合的影响，实现资产的稳健增长。
不少股民则是秉持"我中心论"思维，像蚕吃桑叶一样拣近的吃，习惯了只玩本国股市、心理距离近的企业，哪怕该国股市、这些企业一塌糊涂也痴迷不悟。
他们觉得全球资产配置很麻烦，觉得不懂，想赚钱又想省事，宁愿当韭菜也不愿去学习。
有的人把对某个国家、某个公司的热爱或憎恶情绪，带着投资理财中来，把本应该是以商业盈利为目的的理性决策，用情绪化给搅黄掉。
长期定投是道家"无为而无不为"思想的反映。天才总是极少数，幸运也只是小概率事件，以历史的眼光来看，有为之治远不如无为之治的成本小而收益高。
在股市中，每天紧盯市场行情、频繁进行买卖操作的人，整体盈利的寥寥无几。不要自以为很聪明，可以人定胜天、战天斗地，这是大愚若智。
绝大多数人还是应该保持谦卑，认清自己的局限性，虚心去学习，不妄为，这才是理智的做法。
在中国楼市繁荣的早期，普通人就可以低成本地在一二线城市买房，如果他以同样的资金投入于自己所在的三四线小城，后来的收益差距是几何级的。
有的国家经济长期高增长，但股市长期不振，让多数股民长期套牢、割肉。而有的国家股市则不然。普通人要赚钱，稳健的做法是远离各种不良股市，而在一个比较健全而繁荣的市场，专注于价值投资。
像一些世界主要市场的主流指数基金，总体上风险很小，跌少涨多，普通散户可以考虑作为一条长期缓慢稳定盈利的路径。
人们通过长期定投，就像强制自己定期储蓄一样，定期拿出闲钱来买入，摒弃一夜暴富的不理性诉求，做到老子说的"少私寡欲，绝学无忧"。
在市场波动之际适时少量交易是对道家"反者道之动"的践行。《道德经》说"反者道之动"，经济有周期，机会永远都有，潮涨潮落，不断地兴起衰落、循环往复。通过这个运动，上一周期出现的不平衡会得到平衡。
当投资布局之时，对跨市场、跨资产类别设置了一个投资比例，进行长期定投。当久而久之，会由于市场的变化，这个总体资产中的各项资产占比，会与初衷偏离得越来越远。
对此，有的是要对这个布局进行调整，这要根据自己长期投资下来的分析和盘感；但有的，则是布局更合理，于是就要在资产占比上纠偏。
由于长期定投是赚未来的钱，而市场波动是常态，遇到股价调整，也可以进行一定的交易，作为长期定投主线策略的辅助，赚的就是这期波动的钱。这种买卖，同时也是对资产占比的纠偏。
而在熊市时抄底买股，在股价疯狂时落袋为安，需要有足够的耐心和定力、冷静和豁达，这正是修行者所倡导的能沉住气和够洒脱。
这就回到了老子强调的"致虚极，守静笃，万物并作，吾以观其复"，也就是心态在投资理财过程中的重要性。
总之，投资无论大小，都有必要设置基本合理的年化收益率和止损点，领会老子说的"知足不辱，知止不殆，可以长久"。
《道德经》中说"祸莫大于不知足，咎莫大于欲得。" 如果在投资中一味追求更高的收益，不懂得知足，即使有再多的本金、再大的收益，都有极大的失去风险。
万物皆有定数，小富可以靠搏，大富终究靠命，人不要去强行追求不属于自己的东西，也要安于命中属于自己的那一份。
如果能坚守道家思维，持之以恒，做到跨市场、跨资产大类的全球资产配置，长期定投世界主流指数基金，和在市场波动之际适时少量交易，普通人虽然做不到大富大贵，但提高一定的生活质量还是可以的。
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