冷眼孙子股市兵法：真正的投资心法"

 

YT Video : Credit to: 小貝叔叔

Link: https://youtu.be/SH2RkVDbeVk?si=9V59V6UwDQ8iu43J

"看完这集，你就能胜过9成股市散户！｜冷眼孙子股市兵法：真正的投资心法" (Watching this episode will allow you to surpass 90% of retail investors! | Cold Eye's Sun Tzu's Art of War for the Stock Market: The True Investment Mindset).

The content draws from the author "Cold Eye's" 50 years of stock market experience, applying the ancient military strategy of Sun Tzu's Art of War to modern investing.

"Translate and Summarize using AI tool : Google Gemeni"

Executive Summary

The video posits that the stock market is a modern battlefield where success is dictated by strategy, discipline, and preparation, not luck or emotion. Authored by the veteran investor known as "Cold Eye," the 54 chapters (or core lessons) are derived from the philosophy of Sun Tzu's Art of War.

The central theme is that true wealth is built on an invincible mindset and rigorous calculation (Preparation and Analysis) rather than aggressive, high-risk speculation. Investors are urged to treat investing as a life-and-death matter [01:06], prioritize survival by mitigating risk, and cultivate the patience to wait for the inevitable turning points in the market cycle. The ultimate path to long-term victory is defined by two core elements:

 "Mind" (心)—emotional stability and discipline, and "Substance" (職)—a focus on the intrinsic value of healthy, cash-flow-positive companies.

Content: The 54 Principles of Sun Tzu's Art of War for the Stock Market

The video's 54 lessons can be grouped into six essential strategic areas:

1. Investment Philosophy and Mindset (心: Discipline and Conviction)

These principles establish the fundamental attitude required for survival and success, emphasizing that emotional control is more valuable than intelligence.

 * 01. 投資是你一生的大事 (Investment is a major life event) [00:51]: Treat investing with the gravity of a national matter, as it determines personal financial destiny. Never be impulsive or treat it as a game.

 * 02. 靠信念活下來的投資者 (Investors survive on conviction) [01:34]: Do not rely on luck or news. True conviction comes from believing in intrinsic value and common sense, allowing the investor to endure and wait out market volatility.

 * 04. 越亂越要穩 (The more chaotic, the steadier you must be) [02:44]: In market turmoil, do not panic or chase quick profits. Emotional stability allows one to see opportunities others miss.

 * 06. 別讓情緒指揮你出手 (Don't let emotion guide your action) [03:46]: The moment emotion (fear, anger, greed) takes control is the most dangerous. Always pause and confirm if the company's fundamentals have changed before acting.

 * 07. 越亂越要慢 (The more chaotic, the slower you must be) [04:22]: When the market is in disarray, slow down. Impulsive actions lead to losses; quiet observation leads to superior opportunities.

 * 13. 股市五大心魔 (The stock market's five internal demons) [08:08]: Guard against: 

1) blindly holding onto losses

2) fear of action (missing opportunities)FOMO

3) impatience

4) demanding perfection (buying the absolute low)

5) emotional attachment to "lame ducks."

 * 30. 贏的底牌叫清醒 (The winning trump card is sobriety/clarity) [17:48]: Emotional clarity is essential. A sober mind prepares for all scenarios (liquidity, stable company, team unity) before a decisive move.

 * 32. 越穩的人越能贏 (The steadier a person is, the more they will win) [19:07]: Establish clear rules and boundaries for all trades. With rules, market fluctuations become mere noise.

2. Preparation, Research, and Calculation (職: Due Diligence and Analysis)

Before any action, victory must be secured through thorough analysis and calculation of a company's financial health and true value.

 * 03. 不算賬的投資都是賭博 (Investment without calculation is gambling) [02:10]: The military strategy of 'calculation' is applied to financials: calculate profits, cash flow, debt, and future growth trends. Extensive preparation minimizes risk.

 * 08. 底氣來自準備 (Confidence comes from preparation) [04:56]: Confidence is not found in luck or rumors, but in confirmed facts: stable profit, sufficient cash flow, and low debt.

 * 17. 贏的不賭：投資靠算計 (Winners calculate, don't gamble: Investment relies on calculation) [10:30]: Focus on calculating four main areas: macro trends, industry, company fundamentals, and position sizing. Do not try to predict the future, but calculate the present situation.

 * 19. 別人帶路，你就迷路 (Follow others, and you will get lost) [11:36]: Your own due diligence (reading financial reports, understanding the business logic) is the only reliable map. Relying on others means you are always half a step behind.

 * 24. 市場不會說真話 (The market does not tell the truth) [14:32]: Price volatility is often driven by manipulation or false signals (illusions). Wise investors look for underlying clues and the truth behind the financial statements.

 * 26. 贏了再出手 (Only strike after you have secured victory) [15:36]: The winner's action is preceded by certainty. Calculate the company's value and your risk tolerance before making a purchase.

 * 37. 出手之前勝負已定 (Victory is decided before striking) [21:52]: Success is a result of pre-meditation: research, locking in a good company at a good price, and having a plan for changing conditions.

3. Risk Management and Defense (Prioritizing Survival)

Survival is the first goal. Losing less is intrinsically more important than earning more.

 * 09. 贏了還要守 (After winning, you must still defend) [05:32]: Profit is not a final victory. Always maintain a defensive position by converting some gains into stable assets to allow compounding to continue.

 * 12. 虧得少比賺得多重要 (Losing less is more important than earning more) [07:24]: The primary task is to survive. This involves checking data over rumors, avoiding 'lame ducks,' staying away from hype, and preserving capital to let time compound returns.

 * 14. 不敗比長勝 (Invincibility is better than consistent victory) [08:46]: The wisest strategy is not winning every battle, but ensuring one cannot lose. Buy cheap, stable companies with moats; if the fundamentals turn sour, withdraw immediately.

 * 16. 戒力：不拼命 (Avoid excessive force: don't risk everything) [09:56]: Avoid high leverage. Leverage amplifies disasters. Use capital judiciously to ensure stable, profitable growth.

4. Strategic Analysis and Adaptability (The Terrain and The Flow)

Victory requires a comprehensive understanding of the macro-environment, industry-specific "terrain," and market cycles.

 * 05. 變是唯一不變的規則 (Change is the only constant rule) [03:17]: An investor's skill is not fearing change, but adapting to it. The core principle is "Change while remaining stable; move while remaining steady."

 * 27. 想贏知四件事 (To win, know four things) [16:15]: Success depends on Knowing Self (risk tolerance), Knowing Heaven (macro cycles and policy), Knowing Earth (industry and sector), and Knowing the Company (business logic).

 * 28. 行業就是地形 (Industry is the terrain) [16:47]: Different industries (e.g., consumption as a stable plain, technology as a complex fortress) require different strategies. Focus your capital where you have expertise.

 * 29. 公司走多遠？看人 (How far a company goes depends on its people) [17:19]: The company's fate rests on its management. Investors are buying the management's vision, ethics, and execution, not just a product.

 * 35. 健康的公司才能讓你安心 (Only healthy companies bring peace of mind) [20:47]: A healthy company has: 1) stable profits, 2) ample cash flow, and 3) low debt. Avoid the 'brightest' and choose the most robust.

 * 52. 市場無定式 (The market has no fixed form) [29:08]: Like water, the market is constantly changing. Those who rigidly stick to one strategy will fail. Be fluid, adjusting your defense or offense to the prevailing situation.

5. Timing and Contrarianism (The Art of Waiting)

The path to profit is often unpopular. The greatest profits are realized by waiting for the inevitable convergence of favorable conditions.

 * 10. 走在無人之地 (Walk where no one else goes) [06:05]: Do not crowd into 'hot' stocks. True experts find value in steady, stable companies in quiet sectors, preferring slow growth over chaotic speculation.

 * 15. 越熱鬧越危險 (The livelier (hotter) the market, the more dangerous) [09:22]: The time everyone is making money is the most dangerous. Smart investors retreat during greed and advance during fear.

 * 25. 恐慌時最值錢的是冷靜 (Calmness is most valuable during a panic) [15:05]: Opportunities are found when panic is at its highest. While others are fleeing, the rational investor calculates value and prepares to enter.

 * 33. 最聰明的贏法是不戰而勝 (The smartest way to win is without fighting) [19:38]: The highest-level victory is won by long-term holding. A good company's growth and compounding returns fight the battle for you.

 * 38. 市場有四季 (The market has four seasons) [22:24]: Understand market cycles (Recovery/Spring, Euphoria/Summer, Reversal/Autumn, Depression/Winter). Do not be driven by noise; be a contrarian who looks further ahead.

 * 40. 「等」是最難的本事 (Waiting is the hardest skill) [23:29]: The greatest patience is required during market turbulence. Never rush to buy the bottom. Patience ensures you wait for the market to confirm its stability.

 * 43. 在冷門處出手 (Strike in the unpopular) [25:03]: When the market is the hottest, risk is greatest; when it is coldest, opportunity is greatest. Retreat during greed, advance during fear.

 * 50. 眾人都懂得勝利，已太遲 (Victory known by all is too late) [28:13]: Once an opportunity is visible to the general public, the smart money has already left or the profit potential is severely diminished.

6. Strategic Execution and Focus (Concentration of Force)

Effective application of capital requires focus and a disciplined approach to execution.

 * 31. 贏靠專注不靠數量 (Win by focus, not quantity) [18:27]: Do not scatter capital into fragments. Three strong stocks are better than thirty poor ones. Concentration of capital on high-conviction ideas yields better returns.

 * 36. 不該賺的錢不動 (Don't chase money you shouldn't earn) [21:18]: Only act when the conditions are favorable for profit (stable earnings, high cash flow). If the conditions are not met, halt all action.

 * 45. 穩中有奇 (Oddity within stability) [26:00]: Strategy requires 'The Core' (正) and 'The Flexibility' (奇). The Core is the foundation (research, logic, patience). Flexibility is the adaptation to new opportunities. Always secure the Core first.

 * 49. 蓄力於上，出手無聲 (Accumulate strength subtly, strike silently) [27:47]: True strength is not flashy. It is the result of silently accumulating capital and deeply researching companies, enabling a decisive, high-impact move when the time is right.

Conclusion

The path to long-term success in the stock market is less about predicting price movements and more about mastering one's own psychology and rigorous self-discipline. The 54 lessons collectively distill investment into two eternal pillars, reinforcing the final principle:

54. 長勝之道：首「心」與「職」 (The path to long-term victory: prioritize 'Mind' and 'Substance') [30:03].

 * 心 (Mind): The inner strength to remain stable and disciplined in chaos. This is the foundation of defense and survival.

 * 職 (Substance): The commitment to only investing in high-quality, fundamentally sound enterprises. This is the foundation of offense and growth.

By prioritizing these two elements, an investor can transcend the emotional traps that plague most retail investors. Success is ultimately a matter of preparation, patience, and allowing the power of compounding to work over time 

Video URL: http://www.youtube.com/watch?v=SH2RkVDbeVk