#长期持有策略 Long-term Holding vs The Truth of Short-term Trading Profits and Losses

Statistics from the U.S. Securities Industry show that from 1983 to 2023:

90% of investors who held the S&P 500 long-term achieved positive returns;

80% of active traders underperformed the index, with annual returns lower by 3-5%.

Reasons include: trading friction costs (commissions, slippage), emotional decision-making, and capital gains tax erosion. Long-term holding saves time costs and is more suitable for non-professional investors.