说到股票交易，年龄并不一定要和智慧相匹配。
When it comes to stock trading, age does not necessarily equal wisdom.
只有18岁的梁昊去年从股市获利近100%，显然要比许多机构投资者以及私募基金略胜一筹。
At just 18 years old, Liang Hao has outperformed many institutional investors and private equity funds by making a nearly 100 percent profit from the stock market last year.
数年间，这名来自广东省会广州的高中生巧妙地通过几笔交易，将7万元（合10,253.26美元）转化成几十万元。他表现得颇为老道，并没有具体说出自己究竟赚了多少。
Over the years the high school student from Guangzhou, the capital of Guangdong province, has turned 70,000 yuan ($10,253.26) into several hundred thousand with his wily deal making. And he's cunning enough not to specify exactly how much he has made.
作为沃伦•巴菲特基础分析理论的信奉者，梁昊现在的注意力主要集中在价值投资以及利用大陆同香港市场的价差来实现盈利的低风险套利交易上。
Liang, a believer in Warren Buffett's concept of fundamental analysis, is now primarily focusing on value investment and low-risk arbitrage trading to take advantage of price differences between the mainland and the Hong Kong market.
这位年轻人表示他近来最成功的是一笔A+H市场的套利交易，他买入大陆中国神华能源A股，同时又购入香港的中煤能源熊证，以求对冲。他表示在不到一个月的时间内，自己就赚了20%的收益。
The youngster said one of his recent successful deals was an A+H arbitrage transaction where he bought the stock of China Shenghua Energy Co Ltd on the mainland's A-share market while purchasing a callable bear contract of China Coal Energy Co Ltd in the Hong Kong market to hedge risks. He said he made a 20 percent gain in profit from the trading in less than a month.
“我更喜欢低风险的套利交易，这是因为投资的关键在于要先保全个人资产，而并非一味地去赚钱，”梁昊说。“在我看来，股票交易中，拥有一个清醒的头脑，正确的投资理念以及与自身性格相符的投资习惯才是重中之重。”
I prefer low-risk arbitrage trading because the key to investment is not to make a lot of money but to preserve one's asset first, said Liang. "A clear mindset and proper investment concept and a habit that fits one's personality are what I think matters the most in stock trading."
尽管人们认为，投身中国股市的高中生绝对是凤毛麟角，而梁昊恰恰可能代表了这个正在崛起的年轻群体，我国的新一代投资者们变得更加理性，他们拥有着良好独立思考能力以及分析技巧。在小投资者的传统观念中，常常把股市当成获得快速收益的赌局，而他们与之形成鲜明对比。
Very few high school teenagers are thought to be investing in China's stock market, but Liang may represent a rising group of young, new investors in the country that are becoming more rational and are armed with well-cultivated independent thinking and analysis skills. They are in distinct contrast with the conventional view of small investors who view the stock market like a casino capable of churning out a quick profit.
2004年大盘跌得很凶，年仅14岁的梁昊就在那一年初涉股市。他的父亲经营着一家钢材贸易公司，父亲也是梁昊的第一位投资导师。梁昊的原始资本是他积攒多年的7万元“压岁钱”。
Liang first dealt in the stock market at the tender age of 14 when the market slumped sharply in 2004. His father, who runs a steel trading company in Guangzhou, was his first investing mentor. Liang's initial capital was the 70,000-yuan "lucky money" that he had saved over the years.
这位小股民很快就从一个甚至连蜡杆图表都看不懂的新手，迅速成长为一位思维敏捷的投资好手，他开始获得自己父亲也望尘莫及的收益。
It did not take long for the young trader to turn from an investing novice who didn't even know how to read candlestick charts into a sharp investor who started to make profits his father could not even match.
2008年，对于大多数中国股民来说，是艰难的一年。上证综指从2007年最高点的6124跌至1664点。2008股市跌幅超过65%，市场价值缩水17.2万亿元。
The year 2008 was a tough year for most Chinese investors. The benchmark Shanghai Composite Index fell to 1,664 from a highpoint of 6,124 in 2007. It slumped more than 65 percent in 2008 with the market value decreasing by 17.2 trillion yuan.
同许多投资者一样，在2008年的熊市中，梁昊也收获了艰辛的一课。他购买了中信证券和山西汾酒的股票，结果带来了巨亏，最终只好低位斩仓。
Liang, like many investors, learned a hard lesson in the bear market of 2008. His investment in Citic Securities and Shanxi Xinghuacun Fen Wine Factory Co Ltd resulted in heavy losses and he eventually cut his entire holding at a low price.
尽管如此，这位高中生仍表示他对金融市场热情不减。他已决定升入大学后，就读金融专业；毕业后，投身于投资银行，以积累工作经验。梁昊表示他的终极目标是未来能够创办一家基金管理公司，就像巴菲特掌管的伯克希尔-哈撒韦公司那样。
But the high school teenager said his passion for the financial market would continue to grow. He has decided to major in finance at college and gain some work experience in investment banks after graduating. Liang said his ultimate goal is to run his own fund management company in the future like Buffett's Berkshire Hathaway.