1
00:00:00,066 --> 00:00:03,033
DCA 的英文全称是 Dollar-Cost Averaging

2
00:00:03,033 --> 00:00:05,333
中文一般叫做定期定额投资

3
00:00:05,400 --> 00:00:06,633
固定一个时间节点

4
00:00:06,633 --> 00:00:07,533
固定金额

5
00:00:07,533 --> 00:00:08,900
时间到了就被动买入

6
00:00:08,900 --> 00:00:10,233
不需要人为介入

7
00:00:10,233 --> 00:00:11,533
我们举个具体的例子

8
00:00:11,533 --> 00:00:13,500
来看看定投最直观的好处

9
00:00:13,533 --> 00:00:15,400
比如说每个月拿出一万块钱

10
00:00:15,400 --> 00:00:17,133
定投标普500指数基金

11
00:00:17,133 --> 00:00:19,100
假设基金第一个月的价格是100

12
00:00:19,100 --> 00:00:20,300
你投入一万块钱

13
00:00:20,300 --> 00:00:21,533
可以买到100份

14
00:00:21,533 --> 00:00:22,800
等到第二个月的时候

15
00:00:22,800 --> 00:00:24,033
它跌到了50

16
00:00:24,033 --> 00:00:25,533
但你投入的资金量不变

17
00:00:25,533 --> 00:00:26,700
还是一万块

18
00:00:26,700 --> 00:00:28,866
这种情况下就可以买到200份

19
00:00:28,900 --> 00:00:31,000
第三个月它又涨回到了100

20
00:00:31,000 --> 00:00:32,300
你继续投入一万块

21
00:00:32,300 --> 00:00:33,700
又买到了100份

22
00:00:33,700 --> 00:00:34,700
三次加起来

23
00:00:34,700 --> 00:00:36,500
你一共投入三万块钱

24
00:00:36,533 --> 00:00:38,200
手里有400份基金

25
00:00:38,200 --> 00:00:40,066
平均成本价是75

26
00:00:40,066 --> 00:00:42,200
这个时候基金的价格还是100

27
00:00:42,233 --> 00:00:43,133
三个月时间

28
00:00:43,133 --> 00:00:44,733
基金的价格原地不动

29
00:00:44,733 --> 00:00:47,533
但是你的账户却上涨了30%多

30
00:00:47,700 --> 00:00:49,233
原因就在于被动定投

31
00:00:49,233 --> 00:00:50,500
让你在50的时候

32
00:00:50,500 --> 00:00:53,133
用同样的本金买到了更多的筹码

33
00:00:53,200 --> 00:00:56,233
这就是定投摊低成本最直观的表现

34
00:00:56,266 --> 00:00:58,100
不过在这里我们需要注意一点

35
00:00:58,100 --> 00:00:58,733
摊低成本

36
00:00:58,733 --> 00:00:59,400
并不意味着

37
00:00:59,400 --> 00:01:01,266
你最后一定能够赚到钱

38
00:01:01,300 --> 00:01:03,100
在刚才提到这个例子里面

39
00:01:03,100 --> 00:01:05,200
有一个非常重要的前提条件

40
00:01:05,200 --> 00:01:07,366
就是基金的价格在跌到50之后

41
00:01:07,366 --> 00:01:08,800
又涨回到了100

42
00:01:08,800 --> 00:01:10,666
但如果在第三次买入之后

43
00:01:10,666 --> 00:01:12,100
它没有继续上涨

44
00:01:12,100 --> 00:01:13,866
反而又跌回到了50呢

45
00:01:13,866 --> 00:01:17,066
你手里的400份基金就只值两万块钱

46
00:01:17,066 --> 00:01:19,500
虽然买入的平均成本只有75

47
00:01:19,500 --> 00:01:21,600
比第一次买入的价格低了不少

48
00:01:21,600 --> 00:01:23,666
但相对于投入的三万块钱

49
00:01:23,666 --> 00:01:25,666
你依然亏损了1/3

50
00:01:25,700 --> 00:01:28,300
所以说定投的标的是非常重要的

51
00:01:28,300 --> 00:01:29,900
在执行定投策略之前

52
00:01:29,900 --> 00:01:30,900
你一定要想清楚

53
00:01:30,900 --> 00:01:33,166
投资的这个标的到底靠不靠谱

54
00:01:33,166 --> 00:01:34,300
拉长时间之后

55
00:01:34,300 --> 00:01:36,500
能不能给你带来符合预期的收益