Почему Большинство Людей Теряют Деньги на Фондовом Рынке

Study after study confirms the same finding: the average individual инвестор 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 инвесторы make the same behavioral mistakes as modest ones. Educated инвесторы make the same timing errors as those without financial training. The problem is not knowledge. It is human psychology.

Понимание причин, по которым большинство людей теряют деньги при инвестировании, — это первый шаг к созданию системы, предотвращающей эти потери. Решение заключается не в силе воли или образовании, а в структуре.

First, инвесторы 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, инвесторы chase performance. When an asset class or sector has recently performed well, инвесторы 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 инвестор underperformance.

Third, инвесторы abandon their strategy during difficult periods. The инвесторы who build wealth are those who maintain their allocation through downturns. The инвесторы 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 инвестор underperformance.

The pattern is clear: инвесторы 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 управление портфелем 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 инвестор underperformance: the инвестор themselves.