Jim Cramer的投资25条之十七

Check Hope at the Door

不要抱有任何希望

When I hear the word “hope,” as in, “I hope that doomed stock du jour will come back to where I bought it so I can sell it,” I get furious. Always remember:

Hope is not part of the equation.

每次听到有人说‘这该死的股票，希望它下周能回到我开仓的价格，这样我就能解套了’，我就禁不住想扇那人的耳光。永远记住：

希望不应该成为考虑的因素。

Don’t “hope” for anything. Hope is emotion, pure and simple. And this is not a game of emotion, other than to take the other side of the desperate. Yet, I hear “hope” more than any other word, particularly with troubled tech stocks. Those stocks are filled with hopeful people betting that something good eventually will happen that will drive the stocks higher.

不要”希望”任何事情。希望是完全情绪化的。而投资不是一种感情的游戏，不要希望，也不要绝望。 然而，我听到”希望”比其他词语要多，尤其是对于麻烦的技术股。这些股票上充满了抱有希望的人，他们在祈祷最后会发生某些好的事情，从而将股票价格推高。

Hoping and praying are excellent things in religion. They are integral to sports. You know that the coaches of some of these come-from-behind NCAA men’s basketball teams keep players motivated through hope.

在宗教信仰中，希望和祈祷是很好的事情。在运动中也是如此。很多NCAA男篮队的教练都让自己的队员被希望所激励着。

But hope is a mistaken emotion in our business. It supplants reason, it supplants rigor—especially when it comes to low-dollar-amount stocks.

但是在我们的商业中，希望是个错误。它替代了理智，替代了严谨 – 尤其当你的股票成为低价股的时候。

No company ever set out to have a low-dollar-amount stock. The companies fight like heck not to have them. When they have them, it is a judgment rendered by the market that is harsh, difficult to accept and ultimately, far more right than wrong. When you suffuse your thinking with hope, you end up holding on for something that most likely will never occur. Cut your losses and move on.

从来没有公司宣布自己的股票是低价股。上市公司们努力不让股价降低。但是一旦股价降低，那么就是市场给予的一种评价，这种评价是很难接受的，但是往往是正确的。当你心中充满着希望时，你就会抱着一些其实可能永远不会发生的事情而死掉。 砍掉你的亏损头寸，继续前进！

Remember, we don’t care where a stock has been, we care where it is going, and it is most likely headed down if you are hoping.

记住，我们不在意一个股票过去曾经怎么样，我们关心它未来怎么样，在你希望的时候，很可能这个股票会继续下跌。