市场崩溃不必粉碎投资组合 - 瑞银说保持冷静，保持流动性并利用波动可以使混乱变成财富建设的优势。

瑞银已敦促投资者在最近的市场动荡期间保持稳定，并提供三个核心原理，以支持持续的信心，尽管升级了波动。

Recent market turbulence has left many investors feeling uneasy. But according to UBS, a calm and collected approach during turbulent market cycles can be a huge wealth-building advantage.

最近的市场动荡使许多投资者感到不安。但是，根据瑞银的说法，在动荡的市场周期中，一种平静而收集的方法可能是巨大的财富建设优势。

In a recent note, the bank’s U.S. editorial team offered three core rationales for remaining steady during recent market turbulence.

在最近的一份说明中，该银行的美国编辑团队提供了三个核心原理，以在最近的市场动荡期间保持稳定。

The S&P 500 is currently in correction territory, and some strategists are now warning of a possible bear market. But according to UBS, investors have good reason to remain calm.

标准普尔500指数目前处于纠正范围内，一些战略家现在警告了可能的熊市。但是据瑞银称，投资者有充分的理由保持冷静。

First, while painful, market sell-offs are generally temporary.

首先，虽然很痛苦，但市场抛售通常是暂时的。

During bear markets since World War II, the S&P 500 fell an average of 32% from peak to trough, and it took an average of three years before reaching a new all-time high.

自第二次世界大战以来的熊市中，标准普尔500指数从峰值到谷的平均下降了32％，平均花了三年的时间才达到新的历史最高水平。

Those with diversified holdings saw smaller losses; a 60/40 stock-bond mix declined an average of 19%, recovering in approximately two years and three months.

那些拥有多样化的持股的人损失较小。 60/40的股票债券混合平均下降了19％，在大约两年零三个月内恢复。

Next, a liquidity strategy can help to prevent lasting losses during market downturns.

接下来，一种流动性策略可以帮助防止在市场低迷期间持久损失。

“With this financial cushion, we can maintain our lifestyle comfortably while we wait for markets to recover,” the firm said. “A well-funded liquidity strategy—holding enough cash, bonds, and borrowing capacity to cover spending needs for the next 3–5 years—is enough to fully insulate our day-to-day spending from market volatility.”

该公司说：“有了这种金融缓冲，我们可以在等待市场恢复时舒适地保持生活方式。” “一项资金充足的流动性策略 - 持有足够的现金，债券和借贷能力来满足未来3 - 5年的支出需求 - 足以将我们日常支出与市场波动完全隔绝。”

“This also helps us to avoid the risk of permanently locking in losses by tapping into the liquidity strategy instead of liquidating investments at ‘bear market prices.”

“这也有助于我们通过利用流动性策略而不是以'熊市价格清算投资来避免永久锁定损失的风险。”

Finally, periods of volatility can be viewed as a chance to act strategically, such as by adjusting portfolio weights or engaging in tax-loss harvesting.

最后，波动率的时期可以被视为策略性采取行动的机会，例如调整投资组合权重或从事减税收获。

“Volatility tends to improve the risk/return profile of options strategies and structured investments, allowing you to potentially increase your portfolio’s yield and/or growth potential while maintaining protection against potential losses.”

“波动率倾向于提高期权策略和结构性投资的风险/回报率，从而使您有可能提高投资组合的收益率和/或增长潜力，同时保持对潜在损失的保护。”