大多数人理解奥运精神是从“更快、更高、更强”开始的，在这一口号的激励下，诞生了许多技术与非技术手段，譬如兴奋剂。这是历届奥运会的“头号大敌”，因为采用服药的方式来提高成绩不仅对其他选手不公平，而且对服用者的身体造成无法预测的伤害，被认为是违背体育精神。看起来，追求“更快、更高、更强”是有底线、有原则的。

Most people understand from the Olympic spirit“faster、higher、stronger”began，In this slogan under the excitation of，Born a lot of technical and non-technical means，Such as stimulant。This is of previous Olympic Games“Number one enemy”，Because of the drug way to improve the achievement not only to other players is not fair，But also to users body cause unpredictable damage，Is considered to be against the spirit of sports。looks，pursuit“faster、higher、stronger”Is the bottom line、The principle of a。

　　以结果为导向，不仅存在于体育，更存在于诸多领域，譬如投资。投资是最容易采用结果导向方式的，如果说奥运口号是“更快、更高、更强”的话，那么投资的口号就是“更高、再高、无限高”了，这或许是由资本的本性决定的，“成王败寇”、“赚钱就是硬道理”几乎是投资界唯一的价值取向。

Result-oriented，Exist not only in sports，More exists in many fields，Such as investment。Investment is the most easy to use result oriented way，If the Olympic slogan“faster、higher、stronger”words，So the slogan of the investment is“higher、Then the high、Infinite high”the，Perhaps this is the nature of the decision by the capital，“The end justifies the means”、“Money is the hard truth”Is almost the only assumed the value orientation。

　　投资需要某种类似奥林匹克精神的东西么？国际奥委会早已认识到，如果以结果为唯一导向，必然导致不设底线和不择手段的竞争，突破自然、伦理就有了名正言顺的理由，并被视为通向成功的手段而流行，失去约束的野蛮法则一旦成为主流，终将导致整个体系的崩溃，因此奥林匹克精神作为一种价值观，以底线的方式在制约某些行为，因此他们在追求人类极限和保持奥林匹克精神之间小心翼翼地保持着平衡。

Investment need some similar to what is the Olympic spirit？The international Olympic committee had realized，If the result is the only guide，Inevitably leads to do not set the bottom line and fair competition，Breakthrough natural、Ethics have be perfectly justifiable reason，And is regarded as a means of success and popularity，Loose brutal rule once become mainstream，Will lead to the collapse of the whole system，So the Olympic spirit as a kind of values，The way to the bottom line in restrict certain behaviors，So they in the pursuit of human limit and keep the Olympic spirit between carefully keep the balance。

　　投资也有相似之处。欺诈和财务造假类似于服用兴奋剂，造假者的获利是对诚实守信契约精神的破坏，从而动摇了整个市场的根基。不公平交易和利益输送有点接近于让球，通过人为干预使少数人获利，对其他投资者则显失公平。

Investment also have similarities。Fraud and financial fraud is similar to doping，Fraudsters to profit is the honest code of honor contract spirit damage，Thus to shake the foundation of the market。Unfair trade and interests conveying a bit close to get the ball，Through the artificial intervention makes a few profit，For other investors are unconscionability。

　　比较令人困惑的是投资界的“举国机制”。众所周知，中国股票市场建立的初衷是为当时国企融资解困，之后也一直没有摆脱“政策市”的影响。无论是IPO的审核，还是对某些板块的价值判断，都有比较浓重的人为干预、制度安排的因素，以至于很多投资者在面对市场时，或许有这样的疑问：这是投资本身吗？是不是早有安排？

Comparative perplexing is the capital“National mechanism”。As is known to all，China's stock market set up of the original intention for the state-owned enterprises financing solution，After also has not get rid of“Policy city”influence。Whether IPO audit，Or for some parts of the value judgment，Have relatively strong human intervention、The institutional arrangement of factors，That many investors in the face of market，May have such doubt：This is investment itself？Is early have arrangement？

　　我们经常说中国市场是“新兴加转轨”，或许，成熟市场与新兴市场的重要区别并不在于体量、结构，而在于市场是否设有底线，或者突破底线的现象是否大量存在，并被视为取得成功的方式。

We often said China market is“Emerging and transition”，perhaps，Mature markets and emerging market. The important distinction between the volume is not、structure，But in whether the market with the bottom line，The phenomenon of or to break through the bottom line is there a lot，And be regarded as successful way。

　　证券时报近日发起中国股市振兴方略的讨论，在我看来，最重要的应具有某种被大多数投资者所认可的价值观，并以此作为各方的行为原则和底线，这才是对中国股市的长远之策。

Securities times recently launched the discussion of China's stock market strategies，In my opinion，The most important should have some by most investors recognized values，The parties, and takes it as the behavior principle and the bottom line，This is about the Chinese stock market is a long-term strategy。

　　中国青年报呼吁瓦解体育的举国体制，认为一个大国的崛起，无法靠这些金属来赢得世界认同和尊重，中国要成为真正的强国，需要有远比金牌数更深层次的价值追求。或许，资本市场也需要一些“奥林匹克精神”。 （作者系易方达价值成长(110010,基金吧)基金基金经理）

The China youth daily calls for collapse sports the whole nation system，Think a big rise，Can't get by on these metal to win the recognition and respect，China will become a real power，Need to have far deeper than the number of value pursuit。perhaps，Capital market also need some“The Olympic spirit”。 （The author system YiFangDa value growth(110010,Fund it)Fund fund manager）