Jim Cramer: 作为一名投资者,我认为在市场下跌时,制定应对计划至关重要。我们需要了解当前的市场情况,判断是熊市的开始,还是仅仅是一个买入的好机会。我经历了多次市场崩盘,包括1987年的黑色星期一和2008年的金融危机。我发现,有些崩盘与经济基本面无关,而是由市场机制引起的。例如,1987年的黑色星期一,是由于期货市场的影响力超过了股票市场,导致市场失灵。在这种情况下,如果能够判断出抛售是由市场机制故障引起的,那么就可能是一个绝佳的买入机会。当然,在采取行动之前,我们需要仔细分析,判断抛售是否与经济基本面有关。如果是,则需要更加谨慎。
This chapter explores the differences between various market crashes, focusing on two significant events: Black Monday (1987) and the 2007-2009 financial crisis. It highlights the contrasting nature of these crashes—one mechanical, the other economically driven—and emphasizes the importance of understanding the underlying causes before reacting.
Black Monday (1987) was a mechanical sell-off due to market dysfunction, not economic weakness.
The 2007-2009 financial crisis was a prolonged bear market rooted in economic problems.
Understanding the cause of a sell-off is crucial for determining the appropriate response.
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