Lesson 48

Planning a share portfolio

There is no shortage of tipsters around offering get-rich-quick opportunities.
周围不乏提供快速致富机会的小道消息提供者。
But if you are a serious private investor, leave the Las Vegas mentality to those with money to fritter.
但是如果你是一个严肃的私人投资者，就把拉斯维加斯式的心态留给那些有钱挥霍的人。
The serious investor needs a proper portfolio—a well-planned selection of investments, with a definite structure and a clear aim.
严肃的投资者需要一个恰当的投资组合——一个精心规划的投资选择，带有明确的结构和明确的目标。
But exactly how does a newcomer to the stock market go about achieving that?
但一个股票市场的新手究竟该如何着手实现这一点？
Well, if you go to five reputable stock brokers and ask them what you should do with your money, you’re likely to get five different answers, even if you give all the relevant information about your age, family, finances and what you want from your investments.
好吧，如果你去找五家有声望的股票经纪人并询问他们你应该如何处理你的钱，你很可能会得到五个不同的答案，即使你提供了关于你的年龄、家庭、财务以及你对投资的期望等所有相关信息。
There is no one right way to structure a portfolio.
不存在构建投资组合的唯一正确方法。
However, there are undoubtedly some wrong ways, and you can be sure that none of our five advisers would have suggested sinking all (or perhaps any) of your money into Periwigs.
然而，毫无疑问存在一些错误的方法，并且你可以确定，我们五位顾问中没有一个会建议将你的全部（或也许任何）资金投入到假发公司中。
So what should you do?
那么你应该做什么？
We’ll assume that you have sorted out the basics like mortgages, pensions, insurance and access to sufficient cash reserves.
我们将假设你已经理清了诸如抵押贷款、养老金、保险以及获取充足现金储备等基础事项。
You should then establish your own individual aims.
你随后应该建立你自己的个人目标。
These are partly a matter of personal circumstances, partly a matter of psychology.
这些部分是个人情况的问题，部分是心理学的问题。
For instance, if you are older you have less time to recover from any major losses, and you may well wish to boost your pension income.
例如，如果你年纪较大，你从任何重大损失中恢复的时间就更少，并且你很可能希望增加你的养老金收入。
So preserving your capital and generating extra income are your main priorities.
所以保护你的资本和产生额外收入是你的主要优先事项。
In this case, you'd probably construct a portfolio with some shares (but not high risk ones), along with gilts, cash deposits, and perhaps convertibles or the income shares of split capital investment trusts.
在这种情况下，你可能会构建一个投资组合，包含一些股票（但不是高风险的），连同金边债券、现金存款，以及可能的可转换债券或拆分资本投资信托的收益份额。
If you are younger, and in a solid financial position, you may decide to take an aggressive approach—but only if you're blessed with a sanguine disposition and won't suffer sleepless nights over share prices.
如果你更年轻，且处于稳固的财务状况，你可能会决定采取激进的方法——但前提是你拥有乐观的性格，且不会因为股价波动而彻夜难眠。
If you recognize yourself in this description, you might include a couple of heady growth stocks in your portfolio, alongside your more pedestrian investments.
如果你在这个描述中认出了自己，你可能会在你的投资组合中加入几只令人兴奋的成长型股票，以及你那些更平庸的投资。
Once you have decided on your investment aims, you can then decide where to put your money.
一旦你决定了你的投资目标，你随后就可以决定把钱投在哪里。
The golden rule here is spread your risk—if you put all of your money into Periwigs International, you're setting yourself up as a hostage to fortune.
这里的黄金法则就是分散你的风险——如果你把你所有的钱都投入到Periwigs International公司，你就是在让自己听天由命。
Periwigs is the name of a fictitious company.
Periwigs是一家虚构公司的名称。