なぜほとんどの人は株式市場でお金を失うのか

Study after study confirms the same finding: the average individual 投資家 significantly underperforms the market. Not because they pick bad investments, but because they buy and sell at the wrong times. They buy after prices have risen and sell after prices have fallen, which is mathematically guaranteed to produce poor results.

This pattern persists across all demographic groups, education levels, and income brackets. Wealthy 投資家 make the same behavioral mistakes as modest ones. Educated 投資家 make the same timing errors as those without financial training. The problem is not knowledge. It is human psychology.

多くの人が投資で損失を被る理由を理解することは、損失を防ぐシステムを構築するための第一歩です。解決策は意志力や教育ではなく、構造にあります。

First, 投資家 trade too frequently. Every trade incurs costs, both explicit fees and the implicit cost of buying and selling at market prices. Research shows that the most active traders earn the lowest returns. The more you trade, the more you pay in friction costs and the more opportunities you create for timing errors.

Second, 投資家 chase performance. When an asset class or sector has recently performed well, 投資家 pile in. When it has performed poorly, they flee. This behavior is the opposite of what produces good returns. Buying high and selling low is the defining pattern of 投資家 underperformance.

Third, 投資家 abandon their strategy during difficult periods. The 投資家 who build wealth are those who maintain their allocation through downturns. The 投資家 who lose are those who sell during declines and miss the recovery. The behavior gap between staying invested and panic selling accounts for the majority of 投資家 underperformance.

The pattern is clear: 投資家 lose money not because investing is inherently unprofitable but because human behavior systematically undermines investment returns. The solution is equally clear: remove human behavior from the execution of investment decisions.

Automated ポートフォリオ管理 systems maintain allocation targets, rebalance on schedule, and execute without emotional interference. They do not solve every investment challenge, but they eliminate the single largest source of 投資家 underperformance: the 投資家 themselves.