Monday, August 22, 2022

Linkedin profile: Yuan Tian

 

How to Choose the Best WordPress Hosting in 2022 (Compared)

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Often overlooked, web hosting is one of the key components of every successful website. Choosing the best WordPress hosting for your needs can improve your SEO and increase sales. There are various different types of WordPress hosting options available such as Free, Shared, VPS, Dedicated, and managed WordPress hosting. In this guide, we will help you choose the best WordPress hosting for your website.


First Guaranty Mortgage

First Guaranty Mortgage files for Chapter 11 after layoffs


  • First Guaranty Mortgage originated $10.6 bln in mortgage loans in 2021
  • Laid off 80% of its workforce
  • The company blamed a collapse in the secondary market for mortgage refinancing and collateralization

 

(Reuters) - Mortgage lender First Guaranty Mortgage Corp filed for bankruptcy in Delaware on Thursday, saying it had laid off 80% of its employees and stopped making new loans.

The company, based in Plano, Texas, originated $10.6 billion in mortgage loans in 2021, according to a court filing in its bankruptcy case. It entered Chapter 11 with more than $473 million in debt, largely owed to banks that provided funding for the company's residential mortgages.

First Guaranty Mortgage said it incurred significant operating losses and cash flow challenges due to worsening conditions in the mortgage market, including "a dramatic collapse of the mortgage refinance market and the weakening mortgage purchase market," factors exacerbated by a lack of housing inventory and increasing affordability issues in the U.S.

Rates on home loans surged earlier this month after the Federal Reserve hiked interest rates by three-quarters of a percentage point, the largest increase since 1994.

First Guaranty Mortgage said it was originating far fewer mortgages and had been on pace to originate between $5-$6 billion in new loans this year compared to the nearly $11 billion originated in 2021. And, it is seeing lower profits on the re-sale of loans causing the company to suffer a $23.3 million after-tax net loss in the first four months of 2022.

First Guaranty Mortgage said its existing mortgages are serviced by third parties and will not be impacted by the bankruptcy filing, the company said in a press release.

The company has lined up financing for its bankruptcy case and is exploring all available restructuring options, chief executive Aaron Samples said.

The bankruptcy loan the company is finalizing will allow it to continue operations and honor commitments to fund already-approved residential mortgages, and it has engaged potential partners to support its pipeline of in-process loans, according to its statement.

Shortly before its Chapter 11 filing, the company laid off 471 of its 600 employees, according to court documents.

Rising mortgage rates and the drop in home-buying demand have contributed to layoffs in the mortgage department of JPMorgan Chase and staff reductions at real estate brokers Compass Inc and Redfin Corp.

First Guaranty Mortgage is scheduled to appear for an initial hearing in Wilmington, Delaware, bankruptcy court on Friday.

The case is In re First Guaranty Mortgage Corp, U.S. Bankruptcy Court for the District of Delaware, No. 22-10584.

For First Guaranty: Mary Caloway and Laura Davis Jones of

Sunday, August 21, 2022

Are investors reluctant to realize their losses? | Terrance Odean

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著名经济学家朱少平

 著名经济学家朱少平说:金融就是把别人的钱移到自己手里来。不管你有多么高贵,不管你有多大能耐,金融都是把别人的钱能忽悠到自己手里,包括银行,包括证券,包括做实业的,不是你卖产品干什么?你卖产品是把你的产品卖了之后,把他人的钱给处理了。你借钱干什么?借钱是通过我的信用,通过我的抵押,把你的钱忽悠到我手里了。他不管是什么样的记录,都是想尽一切办法,记住啊,一切办法把别人的钱投到自己手里来。


微评:他讲到金融的本质了。高智商的忽悠低智商的钱。这是一位良心经济学家,他把金融的目的说得太透彻了,为朱少平先生点个赞。

Juanjuan Meng Guanghua School of Management, Peking University

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EMPLOYMENT HISTORY 

  • 2020-present Professor, Guanghua School of Management, Peking University 
  • 2014-2020 Associate Professor, Guanghua School of Management, Peking University 
  • 2017.Feb-July Academic visitor to Nuffield College and Department of Economics, Oxford University ·2010-2014 Assistant Professor, Guanghua School of Management, Peking University EDUCATION ·2005-2010 Ph.D in Economics, University of California, San Diego 
  • 2001-2005 B.A. in Finance, Guanghua School of Management, Peking University, China RESEARCH AREA Behavioral economics, Experimental Economics, Behavioral Finance

孟涓涓,现任北京大学光华管理学院应用经济学系教授

 孟涓涓,现任北京大学光华管理学院应用经济学系教授,2018年获得国家自然科学基金优秀青年项目获得者,首批“日出东方-光华研究学者”获得者。目前任期刊Management Science副主编。


她目前的研究专长包括行为经济学,行为金融学等。她的研究成果发表在国外顶级学术期刊上,如American Economic Review, Management Science, Journal of Public Economics, International Economic Review, Journal of Development Economics, Games and Economic Behavior, Journal of Economic Behavior and Organization. 目前任期刊Management Science副主编。她曾经主持国家自然科学基金面上项目“参照点和狭隘视野:行为经济学前沿问题探究”已结题) 、国家自然科学基金青年基金研究项目 “个体经济行为中的社会性因素”(已结题,获评为“优”)和北京青年英才计划"依赖人际关系还是正式渠道---论正式与非正式制度安排对社会经济发展的影响"项目研究。于2017年获北京大学教学优秀奖、厉以宁教学奖。开设的慕课《行为经济学》获得“最美慕课——首届中国大学生慕课精彩100评选展播活动”一等奖。

行为经济学-孟涓涓(北京大学光华管理学院)

August 21, 2022

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一、课程综述 1.1 行为经济学简介 1.2 理性与非理性行为 二、参照点 2.1 参照点和损失厌恶 2.2 禀赋效应和处置效应 2.3 目标行为 三、跨期决策不一致性 3.1 当下享乐偏好 3.2 自我控制问题 3.3 自我限制需求 四、社会性偏好 4.1 利他与公平 4.2 信任和互惠 4.3 社会形象 五、概率判断偏误 5.1 概率判断偏误 5.2 过度自信 5.3 投射偏误 六、行为政策 6.1 基于行为经济学的政策设计



1.2 理性与非理性行为

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一、课程综述 1.1 行为经济学简介 1.2 理性与非理性行为 二、参照点 2.1 参照点和损失厌恶 2.2 禀赋效应和处置效应 2.3 目标行为 三、跨期决策不一致性 3.1 当下享乐偏好 3.2 自我控制问题 3.3 自我限制需求 四、社会性偏好 4.1 利他与公平 4.2 信任和互惠 4.3 社会形象 五、概率判断偏误 5.1 概率判断偏误 5.2 过度自信 5.3 投射偏误 六、行为政策 6.1 基于行为经济学的政策设计

处置效应

 所谓处置效应,是指投资人在处置股票时,倾向卖出赚钱的股票、继续持有赔钱的股票,也就是所谓的‘出赢保亏’效应。这意味着当投资者处于盈利状态时是风险回避者,而处于亏损状态时是风险偏好者。

概念


处置效应(Disposition Effect),即投资者趋于过长时间地持有正在损失的股票,而过快地卖掉正在盈利的股票,处置效应是资本市场中一种普遍存在的投资者非理性行为。
普通投资者比专业投资者更容易受到处置效应的影响。但是,投资者可以通过学习避免处置效应的影响。

理论解释


前景理论


作为行为金融理论重要基础的前景理论认为,由于价值函数是S型,股票的盈利和亏损可以用参考点(reference point)来判断:当股票价格高于参考点价格时(主观判断为盈利),价值函数是凹函数,因此投资者是风险回避者;当股票价格低于参考点价格时(主观判断为亏损),价值函数是凸函数,因此投资者又成为风险偏好者。如果投资者用以前所买股票的买入价格作为参考点,当股票市场价格上升高于买入价时投资者面临两个选择,即出售股票获取少量盈利和冒亏损风险继续持有以期望价格进一步上升,这时大多数投资者都是风险回避者,趋于较早卖出盈利股票。相反,如果市场价格低于买入价格,投资者将回避实现损失从而继续持有亏损股票。由于投资者的处置效应取决于参考点,因此很自然的问题是不同的投资者会有不同的参考点,且同一个投资者也有多次买入同一只股的情况,这时第一次买入价、最近买入价、最高买入价、最低买入价以及平均买入价综合起来形成一个“参考水平”。当参考点距当前市场价格越近,处置效应的程度就越小。

后悔理论

Shefrin 和Statman 用后悔理论来解释投资者为什么会出售盈利股票持有亏损股票。他们认为投资者在投资过程中常出现“害怕后悔”的心理状态:当人们出现投资失误时,哪怕是很小的失误,也会极为后悔,并会严厉自责,而不是用长远的眼光来看待这种失误。在牛市背景下,因没有及时介入自己看好的股票而后悔,过早卖出获利的股票也会后悔;在熊市背景下,因没能及时止损出局而后悔,获点小利没能兑现,然后又被套牢也会后悔;自己持有的股票不涨不跌,别人推荐的股票上涨,会因为没有听从别人的劝告后悔;当下定决心卖出手中不涨的股票,而买入专家推荐的股票后又发现:自己原来持有的股票不断上涨而专家推荐的股票不涨反跌时,更加后悔。人们在面对这些失误时,通常感到非常难过和悲哀。所以,投资者在投资过程中,为了避免后悔心态的出现总会表现得非常优柔寡断,由于害怕后悔而想方设法尽量避免后悔的发生。为了避免或拖延这种后悔感的产生,人们就会采取一些非理性行为。后悔理论,可用来解释投资者为什么延迟卖出价值已减少的股票,而加速卖出价值已增加的股票。投资者延迟卖出下跌的股票是为了不想看到已经亏损(失误)这一事实,从而不感到后悔。投资者及时卖出已上升的股票是为了避免随后股价可能降低而导致的后悔感,而不管股票价格进一步上涨扩大盈利的可能性。

均值回归理念

Odean,Weber和Camerer认为处置效应的产生在于投资者持有强烈的均值回归(mean- reversion)理念。投资者卖出盈利股票持有亏损股票不是因为他们不愿意实现亏损,而是因为今天的亏损股票(盈利股票)不久将成为明天的盈利股票(亏损股票),他们认为价格将会反弹,收益将会回归均值。价格的均值回归意味着收益是负自相关的:当收益高于一定时期的平均收益时,随后的预期收益会低于平均水平,反之会高于平均水平。因此,当股票收益较高时,投资者认为未来预期收益会降低,于是卖出盈利股票;当收益较低时,投资者认为预期的收益会上升,促使他们继续持有亏损股票,这样形成了处置效应。因此,均值回归中非合理或非理性的观念导致了处置效应。Shiller进行的一个问卷调查中显示,很多遭受严重亏损的投资者都认为市场有可能会反弹而不是进一步下跌。 Jegadeesh和Titman则认为,股票收益在3至12个月的中期水平中会出现连续性变化,即平均来讲,“过去表现好的股票”(past winner)的未来收益将会持续超出“过去表现差的股票”(past loser)。DeBondt和Thaler研究认为,股票收益在3至5 年的长期水平中也会出现逆转现象,即过去长期“表现差的股票”的未来收益一定会优于过去长期“表现好的股票”。

自我辩解

Zuchel认为处置效应描绘了过去的业绩和投资决策共同影响着的投资决策,因此评价上述理论能否解释处置效应有两个标准:一是这些理论能否真正抓住处置效应的核心问题,比如是否能将的投资决策同过去的收益(即是盈利的还是亏损的)联系起来,以及同过去的投资决策(即是否持有)联系起来;二是实证分析能否支持这种解释。Zuchel认为上述理论关于处置效应的解释并不能满足这两条标准,他们指出处置效应实际上可以用心理学文献中自我辩解假设来说明。自我辩解是基于认知不和谐(cognitive dissonance)理论的一个假设。认知不和谐理论认为,投资者在投资亏损后会产生“我的投资失败了”这样一个认识,相比“我获利了,我是一个成功的投资者”认识有一定的差异。而人们总是试图证明过去的决策是正确的,以避免决策错误产生的结果不利于其形象。在自我辩解假设下,人们持有亏损股票的原因在于如果出售亏损股票或者说实现亏损就意味着他们过去的决策是错误的,所以投资者会进一步产生一个认识:“损失是暂时的”,从而继续持有亏损股票形成处置效应现象。
Goetzmann和Peles发现投资者高估所持有共同基金的收益,这与自我辩解假设是一致的,也就是说在保持良好的自我形象前提下,股票收益预期必然会被高估,投资亏损信号必然会被扭曲,实际上这是一种自欺欺人的做法。

验证

奥登(Odean)的结论与我们通常所了解的情况是吻合的,我们周围的投资者大都如此。国内研究者对中国股市“处置效应”的研究结果表明:中国的投资者更加倾向于卖出盈利股票,继续持有亏损股票,而且这种倾向比国外投资者更为严重。而且,在个人投资者和机构投资者中均存在着处置效应。
处置效应的基本结论是投资者更愿意卖出盈利股票,继续持有亏损股票。这种持有亏损股票而过早卖出赢利股票的“售盈持亏”的心态在国内和国外投资者中同样存在,反映了人类的天性。处置效应的极端情况就象我们通常所说的“虱多不痒,债多不愁”,甚至“死猪不怕开水烫”。而针对处置效应的一项有力措施就是:止住亏损,让赢利充分增长。

两个推论

处置效应的基本结论是投资者更愿意卖出盈利股票,和继续持有亏损股票。与此相关的两个推论是:
(1)卖出盈利股票的比率超过卖出亏损股票的比率;
(2)持有亏损股票的时间长于持有盈利股票的时间。
处置效应还有一个不太适当的推论是卖出盈利股票的数量超过卖出亏损股票的数量,这一推论不适当的原因是当市场处于牛市时,投资者的投资组合中的大部分股票会处于盈利状态,盈利股票的数量远超过亏损股票,卖出更多的盈利股票是合理的;而当市场处于熊市时,投资者的投资组合中的大部分股票会处于亏损状态,亏损股票的数量远超过盈利股票,卖出更多的亏损股票是合理的,采取推论(1)的比率方式有利于克服上述问题。此外,从处置效应我们亦可以推论股市在跌市的成交量应少于升市的成交量。

研究分析

编辑 播报

投资者的处置效应倾向并不一定意味着投资者是非理性的,它可能与投资者采取反向投资策略有关。当股价上涨后,投资者可能降低股价进一步上涨的预期,售出股票也在情理之中;当股票价格下跌,投资者可能预期股价反转的可能性加大,也有理由继续持有亏损股票。
我们可以通过研究投资者卖出股票后股价的涨跌来考察投资者决策的正确与否。如果卖出股票的价格进一步上涨,则投资者的决策是错误的,继续持有股票会增加收益;如果卖出股票的价格下跌,则投资者的决策是正确的,继续持有股票会减少收益。事实上,在一段时间内,股价大多同涨同跌,如果卖出股票的股价涨幅小于(或跌幅大于)持有股票的股价涨幅,则投资者的决策是正确的;反之,投资者的决策是错误。本研究是从事后结果考察投资者决策有理性因素。
从事前来看,如果投资者相信股价将继续原有的趋势,则会“售亏持盈”;如果投资者相信股价会反转,则会“售盈持亏”,即会表现处置效应倾向。因此,“售盈持亏”现象与股价反转是一致的。

反身性是投资大师索罗斯所提出的一个哲学概念

1.什么是反身性?

  反身性是投资大师索罗斯所提出的一个哲学概念。索罗斯在大学时代,深受其导师卡尔·波普尔的证伪主义哲学的影响,并在此基础上提出了反身性原理,同时将这一原理应用于他的金融证券实践,由此获得巨大的成功。波普尔的伪证主义哲学对他的重大启示在于:它提示了人类认知活动具有的本质的不完备性。人们只能在一个不断批判的过程中接近真理,在这个过程中的一切判断都只是暂时有效的,并且都证伪的对象。

  在股票市场上相应的理解应该是:用质朴无邪的、科学定义式的、量化的方法研判股票未来走势,会使投资者陷入一个一个的误区。因为我们不能忽略展现在我们面前的K线走势的背后,有人的观念和灵性在发挥作用,如广大中小投资者的买卖动机和欲望,职业投资者投资预期和投资行为,主力做开盘价、收盘价,刻意打压、拉抬等等。股票市场现有的量化(各种技术指标)、形态化(如M头、头肩底、鸭头等)分析理论和分析工具,在投资参与者的有意识、有思想、有预谋、有特定目的的交易行为面前,是相形见绌、必输无疑的。基于这样的哲学思想,索罗斯在25年的投资商生涯中,逐步形成了自己独特的投资理念:反身性理论。

  所谓反身性,它表示参与者的思想和他们所参与的事态都不具有完全的独立性,二者之间不但相互作用,而且相互决定,不存在任何对称或对应。例如,投资大众热情参与的行为自然会影响股价的涨升,而当涨升的意念形成后,又作用于股价,股价却不一定按大众意识的形成态势发展,往往令人失望地发生偏差性演变。当投资大众悲观退出,股价也许又意外的飙升、震荡。索罗斯指出,市场永远是错的,我们现有的分析工具不可能准确预测股价走势和坐标位置。因为市场参与者的预期有偏差,而这种偏差又影响交易活动的进程,不是目前的预期与将来事实相符合,而是未来的事件由目前的预期所塑造。 

我们认为,主流偏向就是指上市公司、机构投资者、证券商等行为团体(大股东),或者行为个人(小股东),对股票市场和对上市公司的具体股票产生的思想观念和认识(有没有前景、价格定位是否偏低、有没有价值回归的机会、各方面的条件是否允许适当炒作等),以及已经在实施、或者正在实施的市场交易行为(有意识、有动机、有目的的交易行为)产生的客观的市场表现结果和事实(用K线所表现出现的图表形态)。

  如果真的是这样,“主流偏向”就是对股价有决定影响作用的“主力机构”、“庄家”这种投资主体和投资行为的代名词。这实际上就是“有意或者无意的、偶然或者必然的情况下发生的股票价格的操纵行为主体”。索罗斯在美国这样一个比较成熟、规范的市场,为了避开严格的监控体制,避免社会公众对市场操纵行为的反感,把对主力机构、庄家对股价的操纵行为,含蓄、隐晦的描述为“反身性理论”,这不愧是一个了不起的哲学家的思维和风格。

索罗斯的“洞察力”,也就是窥探和理解交易者的动机和灵魂的能力。然后,他利用这种操纵手段,恰到好处地把握这种游戏规则,这就是他“狙击全世界”、称雄全世界金融和股票市场的技巧和手段。他的洞察力在于发现了在美国、以及全世界金融和股票市场上或明或暗的股票价格的操纵行为,并用“反身性理论”隐喻了股价操纵的整个过程。他自己则从发现中获得了一次又一次盈利的机会:恰到好处的实施“做庄”的战略,或者准确适时地把握了“跟庄”的机会。

132 交易情绪与认知偏差 (损失厌恶,沉淀成本,处置效应,小数法则,幸存者效应)

August 21, 2022

Here is the link. 

交易情绪与认知偏差 (损失厌恶,沉淀成本,处置效应,小数法则,幸存者效应)

交易是一种情绪, 希望, 恐惧, 贪心, 绝望。

  1. 克服认知偏差
  2. 市场情绪 - 不是正常人 - 苦从何来, 一买就希望涨, 贪心,又跌破头尖顶, 疯狂一跌, 绝望, 恐慌抛售
  3. 简单情绪图 - 永远受市场情绪困扰
  4. 方法, 技术, 概率都是和情绪相关
  5. 控制情绪 - 自律 - 没有不良习惯, 哲学思想, 信仰
  6. 喜欢看圣经, 上帝给多少, 你就拿多少
  7. 世界万物, 都是外界 - 慢慢控制自己情绪 - 交易中控制情绪 - 情绪为什么这么大影响?
不确定的非理性
  1.     紧张 -》 风险, 概率, 误判
  2. 恐惧 -》 不敢下单, 让机会白白流失
知识, 经验 - 鳄鱼, 如何经过鳄鱼

贪心 - 这个哲学角度 - 不是水平有多高

特别层次方法, 解决这个问题




索罗斯 - 反身心理论 - 17:22/ 38:04




Thursday, August 18, 2022

Beginner’s Guide to WordPress File and Directory Structure

Here is the link. 

Do you want to learn about WordPress files and directory structure?

All core WordPress files, themes, plugins, and user uploads are stored on your website hosting server.

In this beginner’s guide, we’ll explain the WordPress file and directory structure.

Why You Should Learn About WordPress File and Directory Structure?

Most users can run their WordPress website without ever learning about WordPress files or directories. However, understanding how WordPress stores files and directories can help you solve many common WordPress problems on your own.

This guide will help you:

  • Learn which WordPress files and folders are core files.
  • Understand how WordPress stores your images and media uploads.
  • Where WordPress stores your themes and plugins.
  • Where configuration files are stored on your WordPress install.

This information also helps you learn how WordPress works behind the scenes and which WordPress files should you backup.

Having said that, let’s take a look at the WordPress file and directory structure.

Accessing WordPress Files and Directories

Your WordPress files and directories are stored on your web hosting server. You can access these files by using an FTP client. See our guide on how to use FTP to upload WordPress files for detailed instructions.

An easier alternative to FTP is the File Manager app that comes built into most WordPress hosting control panel.

Once you have connected to your WordPress site either using FTP or File Manager, you will see a file and directory structure that looks like this:

Inside the root folder, you’ll see the core WordPress files and folders. These are the files and folders that run your WordPress site.

Apart from .htaccess and wp-config.php files, you are not supposed to edit other files on your own.

Here is a list of core WordPress files and folders that you would see in your WordPress site’s root directory.

  • wp-admin [dir]
  • wp-content [dir]
  • wp-includes [dir]
  • index.php
  • license.txt
  • readme.html
  • wp-activate.php
  • wp-blog-header.php
  • wp-comments-post.php
  • wp-config-sample.php
  • wp-cron.php
  • wp-links-opml.php
  • wp-load.php
  • wp-login.php
  • wp-mail.php
  • wp-settings.php
  • wp-signup.php
  • wp-trackback.php
  • xmlrpc.php

The above list is missing .htaccess and wp-config.php files. That’s because those two files are created after WordPress installation.

WordPress Configuration Files

Your WordPress root directory contains some special configuration files. These files contain important settings specific to your WordPress site.

  • .htaccess – A server configuration file, WordPress uses it to manage permalinks and redirects.
  • wp-config.php – This file tells WordPress how to connect to your database. It also sets some global settings for your WordPress site.
  • index.php – The index file basically loads and initializes all your WordPress files when a page is requested by a user.

You may need to edit wp-config.php or .htaccess file sometimes. Be extra careful when editing these two files. A slight mistake can make your site inaccessible. When editing these two files, always create backup copies on your computer before making any changes.

If you don’t see .htaccess file in your root directory, then checkout our guide on why you can’t find .htaccess file in your WordPress root directory.

Depending on how your WordPress site is setup, you may or may not have the following files in your root directory.

  • robots.txt – contains instructions for search engines crawlers
  • Favicon.ico – A favicon file is sometimes generated by WordPress hosts.

Inside The wp-content Folder

WordPress stores all uploads, plugins, and themes in the wp-content folder.

It is generally assumed that you can edit files and folders inside wp-content folder. However, this is not entirely true.

Let’s take a look inside the wp-content folder to understand how it works and what you can do here.

Contents of the wp-content folder may differ from one WordPress site to another. But all WordPress sites usually have these:

  • [dir] themes
  • [dir] plugins
  • [dir] uploads
  • index.php

WordPress stores your theme files in /wp-content/themes/ folder. You can edit a theme file, but it is generally not recommended. As soon as you update your theme to a newer version, your changes will be overwritten during the update.

This is why it is recommended to create a child theme for WordPress theme customization.

All WordPress plugins you download and install on your site are stored in /wp-content/plugins/ folder. You are not supposed to edit plugin files directly, unless you wrote site-specific WordPress plugin for your own use.

In many WordPress tutorials, you will see code snippets that you can add to your WordPress site.

The best way to add custom code to your WordPress site is by adding it to functions.php file of your child theme or by creating a site-specific plugin. Alternately, you can also use custom code snippets plugin to add custom code.

WordPress stores all your image and media uploads in the /wp-content/uploads/ folder. By default, uploads are organized in /year/month/ folders. Whenever you are creating a WordPress backup, you should include the uploads folder.

You can download fresh copies of WordPress core, your theme, and installed plugins from their sources. But if you lose your uploads folder, then it would be very hard to restore it without a backup.

Some other default folders you may see in your wp-content directory.

Many WordPress plugins may also create their own folders inside your wp-content folder to store files.

Some WordPress plugins may create folders inside the /wp-content/uploads/ folder to save user uploads. For instance, this demo website has folders created by Smash Balloon, WooCommerce, SeedProd, and WPForms plugins.

Some of these folders may contain important files. This is why we recommend backing up all such folders as a precaution.

Other folders may contain files that you can safely delete. For example your caching plugins like WP Rocket may create folders to save caching data.

That’s all, we hope this article helped you understand the WordPress file and directory structure. You may also want to see our beginner’s guide to WordPress database management with phpMyAdmin, and our tutorial on how to create a custom WordPress theme without any coding knowledge.

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