#1: Value Ukubeka akulula
Value nokutshala izimali kudinga umsebenzi omkhulu kanzima, isiyalo ngokungavamile LUMA, kanye yesikhathi eside ukutshalwa kwezimali umkhathizwe. Zimbalwa bazimisele futhi bakwazi ukunikela isikhathi esanele nokuzikhandla babe value abatshala izimali, abasekhaya, futhi yingxenye encane kuphela labo babe engqondweni efanele ukuze siphumelele.
Like yesishiyagalombili kakhulu- abafundi bebanga algebra, abanye abatshalizimali ngekhanda amafomula ambalwa noma imithetho futhi yokuzenzisa avele abanekhono kodwa abaqondi ngempela ukuthi abakwenzayo. Ukuze kuzuzwe impumelelo yesikhathi eside phezu ezimakethe eziningi zemali kanye nowe nezomnotho, labuka imithetho embalwa akwanele.
Too izinto eziningi zishintsha ngokushesha kakhulu emhlabeni investment kanjalo aphumelele. Kuyadingeka esikhundleni ukuba baqonde lokho ezikushoyo imithetho ukuze siqonde ukuthi kungani lezi zinto ezisebenza ngayo lapho benza futhi ungalilahli uma bengakwenzi lokho. Value nokutshala izimali akuyona umqondo wokuthi kungafundwa futhi wasisebenzisa kancane kancane ngokuhamba kwesikhathi. It is kuphakathi kokuthi wakwamukela futhi bamukela ngesikhathi esisodwa, nobe bazifunde ngempela.
Value ukutshala izimali elula ukuyiqonda, kodwa kunzima nokuqalisa. Value zimali hhayi super-eyindida nabathakathi kohlaziyo abasungula futhi sisebenzise okuyinkimbinkimbi computer onobuhle ukuze uthole amathuba ezikhangayo noma ukuhlola value ecashile.
I hard okuyingxenye isiyalo, ukubekezela, futhi isahlulelo. Abatshalizimali zidinga isiyalo ukuze agweme kuzilandeleli eziningi akuthandeki ukuthi befakwa, isineke sokulinda iphimbo kwesokudla, futhi isahlulelo ukwazi lapho sekuyisikhathi ufake.
#2: Being a Value abatshalizimali
Ukuphishekela isiyalo ezisendalini kwenza value nokutshala izimali kakhulu ndlela ingozi-averse. Inselele enkulu kunazo zonke value yabatshali bezimali ukulondoloza isiyalo esidingekayo.
Kokuba zimali value ngokuvamile lisho emi singekho isixuku, eziyinselele ukuhlakanipha okungokwesiko, futhi bamelana linqoba imimoya utshalomali. Kungaba umsebenzi enesizungu.
Inani umtshali zimali angase abhekane nakho abampofu, ngisho horrendous, ukusebenza uma kuqhathaniswa nezinye yabatshali bezimali noma emakethe sisonke ngezikhathi eside emakethe overvaluation. Kodwa phezu eside ugijime kusondela ukubaluleka isebenza ngempumelelo ukuthi bambalwa, uma ikhona, abameli njengezisulu zakhe ngefilosofi naphakade ziwushiye.
#3: Doda ngcolile yisitha An zimali sika
Uma yabatshali bezimali babekwazi ukubikezela esiqondisweni likusasa lemakethe, ngokuqinisekile ngabe singakhethi kube value yabatshali bezimali sonke isikhathi. Ngempela, lapho izibambiso amanani kancane kancane ziyanda, ukwenzisa oko- value ngokuvamile ukukhubazeka; out- of-umusa izibambiso bathambekele avuke ngaphansi kuka izintandokazi lomphakathi. Lapho emakethe kuba zenani elingaphezu ngokugcwele isendleleni kokuba overvalued, aphinde Inani yabatshali bezimali chuma ekhanya ngoba they dayisa kungakabiphi.
Isikhathi ezizuzisa kakhulu ukuba ube value abatshalizimali uma emakethe liyana. Lokhu kwenzeka uma izindaba sinazo ingozi nalapho abatshalizimali ayinandaba kuphela ngalokho bangaya kwesokudla nemiphumela nethemba okungafanele. Value yabatshali bezimali ukutshala nge ohlangothini zokuphepha biyela them ukulahleka kwezinto ezinkulu ezimakethe ekunqabeni.
Labo ongabikezela ikusasa kufanele ahlanganyele ngokugcwele, Ngempela on wekhasi usebenzisa Ngaboleka imali, lapho emakethe imayelana libuye ukuphuma esigcawini phambi kwalo enqaba. Ngeshwa, abatshali bezimali abaningi abengeziwe abathi ikhono lokubikezela isiqondiso emakethe sika kunokukhuluma ifa lelo khono. (Mina ngokwami sahlangana olulodwa.)
Labo kithi abaziyo ukuthi asikwazi ngokunembile sezulu amanani nokulondeka belulekwa kahle ngokucabanga ukuthi value nokutshala izimali, isu ephephile futhi siphumelele zonke izindawo ukutshalwa kwezimali.
#4: Kuba Konke mayelana engqondweni
Investment ukuze baphumelele kudingeka i engqondweni ezifanele.
Ukutshala izimali zebhizinisi esingathí sina, hhayi ukuzijabulisa. Uma iqhaza ezimakethe zezimali nhlobo, kubalulekile ukwenza kanjalo njengoba i zimali, hhayi njengoba Spy, futhi uqiniseke ukuthi uyaqonda umehluko.
Akubuzwa, zimali bakwazi ukuhlukanisa Pepsico kusuka Picasso futhi siqonde umahluko phakathi utshalomali kanye collectible.
Lapho yokonga oyisebenzele kanzima ekuthengeni nokulondeka ngokwezimali esikhathini esizayo asengozini, izindleko ukuhlukanisa kuyinto engamukelekiko.
#5: Musa Funani Mr. Iseluleko Market sika
Abanye abatshali bezimali - ngempela befisa - ngephutha bheka uMnu. Market for isiqondiso ukutshalwa kwezimali.
They sebenzisa Him ekubekeni amanani aphansi a security and, unmindful of irrationality yakhe, ukusheshe ukuthengisa Holdings zabo, ngokusishaya indiva kuhlola ezabo value ecashile. Ngezinye izikhathi beyibona ukhulisa amanani kanye, Othemba ukuhola kwakhe, ukuthenga at the figure ephakeme sengathi wayazi izinto eziningi kunalezo abanazo.
Iqiniso liwukuthi Mr. Market ongazi lutho, ngokuba umkhiqizo isenzo collective ezinkulungwane abathengi kanye nabathengisi, kwabona abake baba kungukuthi njalo bashukunyiswa eziyisisekelo utshalomali.
abatshala izimali, abasekhaya Emotional bamazwe nakanjani ulahlekelwe yimali; abatshalizimali ngokunenzuzo Mr. irrationality Market sika gqwa, Ngokungafani no-Eva, nethuba elihle lokujabulela yesikhathi eside impumelelo.
#6: Stock Price Vs Business Namaqiniso
Louis Lowenstein sisiyelelisa hhayi ukudida impumelelo yangempela i zokutshala izimali isibuko yayo empumelelo ezimakethe zamasheya.
Iqiniso lokuthi liyaphuma intengo yamasheya akuqinisekisi ukuthi ibhizinisi ecashile ululama kahle noma ukuthi ekunyuseni amanani ulungisiswa a ukwanda lako value ecashile. Ngokufanayo, ukuwa intengo futhi ngokwalo engenzi Akuvezi ezingezinhle nentuthuko zebhizinisi noma value ukuwohloka.
Kubaluleke kakhulu zimali ukuze sikwazi ukuhlukanisa phakathi intengo yamasheya nokushintshashintsha kusukela ecashile ibhizinisi ngokoqobo. Uma ukuthambekela jikelele iwukuba ukuthenga ukuba niphendulane ukuthenga more nokuthengisa ukuba kwenze abathengisayo more, yabatshali bezimali kumele silwe nokuthambekela kokuba thela ukuba ezentengiselwano.
Awukwazi indiva emakethe - indiva umthombo namathuba angcono okutshala izimali kusobala ukuthi ngeke kufaneleke iphutha kodwa kumelwe uzicabangele wena futhi singavumeli emakethe ukuba ukuqondise.
#7: Price Vs Value
Value maqondana amanani, hhayi amanani yedwa, kumelwe anqume izinqumo zakho utshalomali.
Uma ubheka uMnu. Market njengoba umdali ngamathuba okutshala izimali (lapho intengo isuka value ecashile), unaso ezazidingeka zimali value.
Uma nimane nje looking Mr. Market for isiqondiso ukutshalwa kwezimali, Nokho, cishe best belulekwa ukuba baqashe omunye umuntu ukuphatha imali yakho.
Ngoba amanani nokuvikeleka singashintsha iyiphi inombolo izizathu ngoba akunakwenzeka ukuba wazi lokho okulindelwe bukaJehova kubonakala yiliphi izinga intengo, yabatshali bezimali kumele abheke ngalé amanani nokulondeka kuze ecashile value yebhizinisi, njalo ukuqhathanisa ezimbili njengoba yenqubo utshalomali.
#8: Imizwelo Play umonakalo Ukusebenzisa
yabatshali bezimali Akuphumelelanga zibuswa umzwelo. Kunokuba kokuphendula ubande uma ukhuluma naye futhi enomqondo emakethe ekushintshashintsheni, zisabela ngokomzwelo ukuhaha nokwesaba.
Sonke siyazi abantu abenza okufanele bese ngamabomu esikhathini esiningi kodwa qhubekani berserk lapho imali. Kungathatha izinyanga eziningi, ngisho iminyaka, kokusebenza kanzima futhi ukonga liqondiswe ukuba buthelela imali kodwa imizuzu embalwa nje ukutshala it.
Abantu efanayo sasifunda izincwadi eziningana umthengi kanye uvakashele ezitolo eziningi ngaphambi kokuthenga a stereo noma ikhamera nokho ukuchitha isikhathi esincane noma abangenaso nhlobo ayaphenya ngalesi stock bamane uzwe yini kukhulunywa ngokuzamazama avela kumngane.
Rationality ukuthi sisetshenziswa ukuthengwa zikagesi noma enezithombe lingekho lapho kuziwa nokutshala izimali.
#9: Stock Market ≠ Money Quick
Abatshali abaningi bezimali akuphumelelanga angibheki amasheya njengendlela yokwenza imali ngaphandle abasebenza kunokuba indlela ukutshala enhlokodolobha ukuze uthole a ukubuya ehloniphekile.
Noma ubani uzothanda a inzuzo esheshayo lula, nangethemba i lwenzuzo esilithola sihlezi singenzi lutho kubangela ukuhaha in abatshala izimali, abasekhaya. Ukuhaha kuholela abatshali bezimali abaningi ukuba bafune izinqamuleli impumelelo utshalomali.
Kunokuba sivumele ubuyela ezibamba ngokuhamba kwesikhathi, bazama uvule inzuzo esheshayo ngokwenza amathiphu esishisayo. Abayeki ukuba ucabangele indlela Tipster kungenzeka kube ophethe ulwazi oluyigugu ukuthi akukhona etholakala ngokungemthetho noma ukuthi kungani, uma kubalulekile kangaka, it wenziwa utholakale kubo.
Ukuhaha futhi kubonakala njengoba nethemba okungafanele noma, ngaphezulu kancane, njengoba ukwaneliseka lapho sibhekene nezindaba ezimbi.
Ekugcineni ukuhaha kungabangela yabatshali bezimali bayeke umbono wazo kude ukuzuzwa eside imigomo utshalomali esivuna yokucabangela short-term.
#10: Cycles Stock Market
Zonke izimfashini emakethe zifinyelele ekupheleni. amanani Security ekugcineni uphakeme kakhulu, supply qhebeza phezulu bese idlula kwesidzingo, phezulu kufinyelelwe, futhi slide kwehle ensues.
Kuyohlale kukhona imijikelezo utshalomali fashion futhi ngokuqinisekile nje abatshalizimali singangena kubo.
It kuyafaneleka ukuba uqaphele ukuthi akulula ukuba ukuhlukanisa i mkhuba ukutshala real ibhizinisi mkhuba. Ngempela, abaningi izimfashini utshalomali Isekelwe real izitayela ibhizinisi, okufanele ukuze kubonakale zesito.
Lo mkhuba siba yingozi, Nokho, lapho share amanani ukufinyelela emazingeni ifoni awasekelwe yiwo amagugu conservatively ithathwe zamabhizinisi eziyimbangela.
#11: Indlela Big Zimali zingenzi kahle futhi Okwabenza Underperform
Uma ukuziphatha zimali zezikhungo kwakungewona obunyantisayo kanjalo, kungase kube ukuthi ezihlekisayo.
Ezigidigidini zamaRandi leli fa elitholakale kanzima kwabanye abantu basuke uvame ophehliwe investments utshalomali ngokusekelwe esincane noma abangenaso nhlobo ngokujulile ucwaningo noma analysis.
I sengqondo obudlange kuyinto ukuvumelana, groupthink. Acting nesixuku iqinisekisa i ingakuvumeli ukucabangela nokuqhwandela eyamukelekayo;
oyibamba ngokuzimela ugijima ingozi ka anesandla engamukeleki.
Ngempela, wesikhathi esifishane, isihlobo ukusebenza orientation lwabaphathi eziningi imali esenze “Umtshali wemali yesikhungo” liyaziphikisa ngokwemibandela.
abaphathi Iningi nemali sinxephezelwa, hhayi ngokwezinto imiphumela Bakufeza, kodwa njengoba amaphesenti kwempahla Imininingwane ngaphansi ukuphathwa. Isibonelelo ukwandisa amafa wakwazi ukuze ukhiqize izimali more. Nokho ngenkathi ibhizinisi ngendlela enizosebenzisa ngayo imali ngokuvamile iba nenzuzo enkulu njengoba amafa ngaphansi nokuphathwa ukwanda, ukusebenza okuhle utshalomali kuba nzima.
Lokhu kushayisana emkhatsini eyozuzisa imenenja imali nokuthi amaklayenti ngokuvamile ukuxazululwa esivuna kwemenenja.
#12: Isikhathi esifushane, Isihlobo-Performance Derby
Like izinja nokujaha imisila yawo siqu, yabatshali bezimali iningi yesikhungo babé bevaleleke short-term, isihlobo- ukusebenza derby. abaphathi Fund kwelinye isikhungo ziye zabhekana kokuthikamezeka izibalo ukusebenza ngehora; abaphathi eziningi zinikezwa iziqhathaniso nsuku of imiphumela yabo nalabo lwabaphathi ngezinye amafemu.
Njalo simo yokuqhathanisa kungaba kuphela ukugcizelela short-term utshalomali nombono.
Kuyinto Kuyaqondakala kunzima ukulondoloza umbono wesikhathi eside uma, bebhekene izinhlawulo abampofu ukusebenza short-term, the long- buka term kungase kube kuhle line izinga eliphezulu labangasebenzi.
Ukusebenzisa ngaphandle kokuqonda ukuziphatha zimali zezikhungo kufana nokushayela kwelinye izwe ngaphandle ibalazwe. Ungase bayogcina benaso lapho uya, kodwa uhambo ngokuqinisekile kuthathe isikhathi eside, futhi wena engozini bedukile
endleleni.
#13: Okokuqala, Gwema Ukulahlekelwa
Warren Buffett likes ukusho ukuthi Umthetho wokuqala ukutshala izimali “Ungalahlekelwa imali,” futhi umthetho wesibili uyiNkosi, “Ungalokothi ukhohlwe Umthetho wokuqala.”
Nami ngiyakholelwa ekutsaneni ngokugwema ukulahlekelwa kufanele kube umgomo oyinhloko wabo bonke Abatshali bemali. Lokhu akusho ukuthi abatshali bezimali akufanele nanini incur ingozi ka yikuphi ukulahlekelwa nhlobo. Kunalokho “Awulahlekelwa imali” kusho ukuthi eminyakeni eminingana i iphothifoliyo utshalomali akufanele banikwe ukulahlekelwa appreciable uthishanhloko.
Nakuba kungekho muntu efisa ukuba bazilethele lapho beshonelwe umntwana, ungase akufakazeli it uma kuhlolwa ukuziphatha zimali kakhulu bamazwe. I nesifiso sokufuna zokucabangela ukuthi lingaphakathi iningi lethu unamandla; ithemba kwasemini free kungaba owayephoqelela, ikakhulukazi uma abanye baye kakade ebonakala ingasho kudliwe.
Kungaba nzima ukuba bagxile ukulahleka kwezinto abangahle kuyilapho abanye ngokuhaha kokufinyelela uzuza futhi broker yakho ivuliwe amasheya umnikelo ifoni yakamuva “hot” initial umnikelo umphakathi. Nokho ukugwema ukulahleka kuyindlela engcono ukuze kuqinisekiswe umphumela enenzuzo.
#14: Ukubaluleka Zesikhashana Price ekushintshashintsheni
Ngaphezu ematfuba ukulahlekelwa unomphela exhunywe utshalomali, kukhona nethuba wesikhashana intengo yokuguquguquka ukuthi kukhona ezingahlobene value ecashile.
Abatshali abaningi bezimali cabanga intengo nokushintshashintsha ukuba abe ingozi enkulu: uma amanani uya phansi, the utshalomali ubonakala njengeNkosi ngokwezocansi okuyingozi kungakhathaliseki imithetho.
Kodwa zingezesikhashana intengo nokushintshashintsha ingozi ngempela? Hhayi ngendlela ukuthi zinenzuzo ehlala kahle kukhona bese kuphela zimali ezithile ezimweni ezithile.
Ikona, kunjalo, Akulula ngaso sonke isikhathi zimali ukuhlukanisa sesikhashana intengo simo esishubile, ezihlobene amabutho short-term ukuze kwaneliswe isidingo iyona, kusukela amanani ukunyakaza ezihlobene eziyisisekelo ibhizinisi. I qiniso kuphela sobala sezigcwalisekile.
Nakuba yabatshali bezimali kufanele kusobala bazame ukugwema overpaying mali noma ukuthenga ibhizinisi kamuva ukunqabela value ngenxa imiphumela eziwohlokayo, akunakwenzeka ukuba ugweme okungahleliwe short-term market simo esishubile. Ngempela, Abatshali bezimali kufanele alindele amanani iyashintshashintsha futhi akufanele imali itshalwa kumasheya ezindawo izibambiso uma awukwazi ukubekezelela abanye simo esishubile.
Uma uthenga value umsindo at isaphulelo, do short-term price ekushintshashintsheni udaba? Ngokuhamba kwesikhathi baba ayibalulekile lukhulu; Inani bayogcina kubonakale inani lesibambiso. Ngempela, Okuxakayo, eside ukutshalwa kwezimali Iphuzu Intengo yokuguquguquka ungaphakathi kolunye uhlangothi kusukela eduze inzuzo umthelela.
Ngokwesibonelo, short-term intengo ukwehla empeleni ngcono uyabuya zimali wesikhathi eside. Bangu, Nokho, nezimo ezimbalwa lapho eduze-term price nokushintshashintsha sibalulekekile.Thina ukuze zimali. nemicengezi Security abadinga ukuthengisa ngokushesha ngaso isihe amanani okuthengisa umkhiqizo kuhlanganise. The trick zimali yimpumelelo iwukuba ukuthengisa uma befuna, hhayi lapho kudingeka.
Eduze-term amanani security kuqakatheke batjalimali inkampani elinezinkathazo. Uma ibhizinisi kumele aphakamise capital eyengeziwe esikhathini esiseduze ukuze asinde, batjalimali izibambiso yayo kungenzeka isiphetho sabo enqunywe, okungenani ngokwengxenye, ngentengo linqoba emakethe of stock yenkampani kanye izibopho.
Isizathu sesithathu yabatshali bezimali yesikhathi eside-ngamakhasimende unesithakazelo short-term intengo nokushintshashintsha wukuthi Mr. Market kungadala amathuba ekhangayo ukuba athenge futhi athengise. Uma ubamba cash, wena uyakwazi ukusizakala la mathuba. Uma zitshalwa ngokugcwele lapho emakethe enqaba, iphothifoliyo yakho cishe kwehla value, kumncishe wena izinzuzo ezivela ithuba ukuthenga emazingeni aphansi. Lokhu kudala izindleko ithuba, nesidingo sidele amathuba esikhathini esizayo lapho ziphakama. Uma lokho wena ubamba kuyinto illiquid noma unmarketable, ukwanda ithuba izindleko eyengeziwe; the illiquidity okuvimbela usuke yakho ukuze ezisendalini kangcono.
#15: Uyacabangela & Returns Ungaguquguquki> Spectacular & Uphindela esimazonzo
A eliphezulu ukubaluleka izimisele ngokukhuphula wukuthi kunzima kakhulu zokumenza avuke ngisho nokulahlekelwa eyodwa enkulu, ezinganikwa ngokoqobo abhubhise bonke ngesikhathi esisodwa imiphumela emihle iminyaka eminingi empumelelweni utshalomali.
Ngamanye amazwi, Umtshali wemali cishe ukwenza kahle nokufeza uyabuya consistently obuhle limited sinazo engozini kunokuba by nokufeza oluyingozi futhi ngezinye izikhathi ngisho uzuza umbukwane kodwa nge izingozi ezinkulu uthishanhloko.
Zimali ngubani zuza 16 abangamaphesenti angu namafomu entela yonyaka engaphezu kweyishumi, Ngokwesibonelo, kuthanda, mhlawumbe ngokumangalisayo, bagcina imali engaphezu kuka zimali ngubani zuza 20 ngemnyaka iminyaka eyisishiyagalolunye bese ulahlekelwa ngu 15 amaphesenti angu ngonyaka weshumi.
#16: Kulungele Ukubhekana Elibi Kakhulu
Njengoba egqolozele zimali 'ekugwemeni ukulahleka kumele libeke ngokwabo ukuze sisinde ngisho bachume ngaphansi kwanoma yiziphi izimo.
amashwa kungaba niyokwehlelwa; amaphutha kwenzeke.
... Ohlakaniphileyo, Umtshali wemali kude okwenzayo iphothifoliyo yakhe kanye nolwazi lokuthi izibhicongo zezimali bayakwazi zenzeka. Abatshali bezimali kufanele azimisele ukuba sidele ezinye ukubuya eduze eside, uma kunesidingo, njengenhlangano premium lomshuwalense adversity ezingalindelekile futhi iyingozi.
#17: Gxila Process, Hhayi wesifundo
Abatshali abaningi bezimali benza iphutha lokuphetha ukusungula umgomo sitshale ukutholela izinga othize ukubuya. Ukubeka umgomo, ngeshwa, akawenzi ukuthi ngoluzuzekayo ukubuya. Ngempela, kungakhathaliseki ukuthi yini umgomo, kungase angakwazi ukuzamukela.
Ephawula ukuthi ufuna uhola, uthi, 15 ngemnyaka, Akakutsheli into mayelana nendlela yokuyithola. Investment uyabuya akuzona umsebenzi ngqo esingakanani noma kanzima nawe emsebenzini noma kungakanani ufisa uthole. A emhosheni digger bangasebenza sehora isikhathi esengeziwe inkokhelo extra, nesisebenzi isiqeshana zuza kulapho isokana namtjhana intombi ibe kuveza. An umtshali zimali awukwazi ukunquma ukucabanga nzima noma efakwa isikhathi esengeziwe ukuze kuzuzwe ukubuya ephakeme.
Zonke umtshali wemali uyobe ongakwenza ulandele indlela ngokungaguquki nangokuhleleka akanhlanhlatsi; ngokuhamba kwesikhathi ubuyela kuyofika. Kunokuba ikhomba izinga oyifunayo ukubuya, ngisho eyodwa abethabé ngendlela enokucabangela, Abatshali bezimali kufanele libhekise ingozi.
#18: Lindela Right Pitch
Warren Buffett isebenzisa isifaniso baseball lamukele isiyalo value yabatshali bezimali. Yesikhathi eside-ngamakhasimende value abatshalizimali Batter emdlalweni lapho kungekho amabhola noma kugadla i zibizwa ngokuthi, ngokuvumela inqwaba, ngisho namakhulu, of pitches uye, kuhlanganise nabaningi at abakhulekelwa eminye Batters kwakuyoba zivuleka.
Value zimali abafundi of the game; abazifunda zonke pitch, labo ngaso zivuleka nalabo sidlule. Basuke akazange athonywe ngendlela abanye asebenza; bashukunyiswa kuphela imiphumela yabo siqu. Sinenkosi isineke okungenamingcele bazimisele ukulinda kuze they juba pitch bakwazi ukusingatha-an utshalomali ithuba bengahlonishwa.
Value yabatshali bezimali ngeke ukutshala amabhizinisi ukuthi azikwazi ngokushesha noma lezo uthole ngokwezocansi okuyingozi kakhulu.
yabatshali bezimali Iningi yesikhungo, ngokungafani value abatshala izimali, abasekhaya, zizizwe zibophekile ngokugcwele etshaliwe ngaso sonke isikhathi. Ikhonza njengabameleli uma ngunompempe Babembiza amabhola kanye kugadla i-ikakhulu kugadla i-kanjalo aphoqeleke ukuba zivuleka cishe kuyo yonke iphimbo sidele batting selectivity for imvamisa.
abatshali bezimali abaningi abazimele, like ballplayers amateur, Ngeke simane ukuhlukanisa pitch omuhle ovela zasendle. Bobabili laba undiscriminating futhi ayenele yabatshali bezimali yesikhungo bangathola induduzo ngokwazi ukuthi abaningi abanengxenye emakethe bazizwa bephoqelekile ukuba zivuleka nje njengoba njalo njengoba benza.
Ngoba zimali value pitch akumelwe nje kube zone isiteleka, kumelwe kube yakhe “indawo elimnandi.” Imiphumela kuyoba kuhle kakhulu nxa zimali is hhayi becindezelwa ukutshala ngaphambi kwesikhathi. Kungase kube nezikhathi lapho zimali akusho phakamisa nelulwane kusukela ehlombe lakhe; ukulondeka eshibhe ezimakethe ezinkulu overvalued angase aqhubeke overvalued. Nawe ngeke uthande ukuba ukuba axazulule uma utshala imali enikeza safe 10 abangamaphesenti angu ukubuya uma bacabanga ukuthi kungenzeka ukuthi enye ngokunikela ephephile ngokulinganayo 15 abangamaphesenti angu ukubuya bekungaba ngokushesha imizimba.
Ngezinye izikhathi inqwaba kuzilandeleli ezinhle befakwa ngokulandelana ukuze zimali value. In izimakethe netwetwe, Ngokwesibonelo, isibalo bengahlonishwa izibambiso ukwanda kanye degree of undervaluation futhi likhula. In izimakethe sisemanzini, Ngokungafani no-Eva, kokubili isibalo izibambiso bengahlonishwa kanye degree kwabo undervaluation ukwehla.
Lapho amathuba ezikhangayo Ziningi, Inani zimali bakwazi ukuhlunga ngokucophelela wonke ezisendalini for the ones they thola ezikhanga kakhulu. Lapho amathuba ezikhangayo iyivela kancane, Nokho, yabatshali bezimali kumele abonise omkhulu ukuzithiba ukuze balondoloze ubuqotho inqubo yokulinganisa futhi anciphise inani elikhokhiwe. Ngaphezu kwakho konke, yabatshali bezimali kumele njalo ukugwema wahosha at kuzilandeleli embi.
#19: Yinkimbinkimbi Business Valuation
Kungaba iphutha elikhulu ukucabanga ukuthi wonke amaqiniso ezichaza imali ethile noma kwakungase ukwaziwa. imibuzo angeke nje engaphenduliwe; yonke imibuzo efanele kungenzeka ngisho ucelwe. Ngisho noma esikhathini samanje ngandlela-thile ngokuphelele kuqondwe, nokutshalwa kakhulu sincike imiphumela ayikwazi ngokunembile kusengaphambili.
Ngisho noma konke babengase Wazile ngezingcindezi ebekwe ebhange ukuze izale, okungokoqobo nzima liwukuthi izindinganiso ibhizinisi kungukuthi eliqoshwe itshe. Ukutshala izimali bekuyoba lula kakhulu uma amagugu ibhizinisi zahlala njalo ngenkathi zesito zazihlobene predictably elibazungezile like amaplanethi azungeza ilanga.
Uma ungeke ube ezithile lenani, ngemva kwakho konke, ke ungaqiniseka kanjani ezithile ukuthi uthenga at isaphulelo? Iqiniso liwukuthi awukwazi.
#20: Kulindelwe Precision e Valuation
Abatshali abaningi bezimali angaphikelela ekutheni affixing amagugu ngqo izimali zabo, befuna ngokunemba ezweni eyahumusha, kodwa value ibhizinisi alikwazi ngokuqondile.
Kubikwe ncwadi value, Amaholo, futhi cash flow kukhona, ngemva kwakho konke, the izibikezelo best accountants abalandela isethi sasivumela esiqinile amazinga kanye nokwenziwa yakhelwe kuphela ukuba kuzuzwe nesikhathi kuka ukubonakalisa Inani kwezomnotho. Imiphumela ashiwo yilezi kancane eqondile namanje. Awukwazi uhlolisise ukubaluleka kwekhaya amadola ayizinkulungwane eliseduze. Kungani kungase kube into elula ukubeka value amabhizinisi enkulu eziyinkimbinkimbi?
Akukhona nje kuphela ukuthi value yebhizinisi imprecisely knowable, liphinde ziyashintsha ngokuhamba kwesikhathi, ziyaguquguquka eminingi zomnotho, microeconomic, futhi izici ezihlobene ezimakethe. Ngakho, nakuba yabatshali bezimali nganoma isiphi isikhathi abangeke bakwazi ukunquma ibhizinisi value ngobuciko, kumelwe nokho cishe njalo uhlolisise izilinganiso zabo zenani elikhulu ukuze nifaka zonke izici eyaziwa okungaphazamisa asihlole zabo.
Noma yimuphi umzamo wokubuyisa value amabhizinisi ngobuciko liyakuthela ukuziphatha ngokunembile enganembile. Inkinga iwukuthi kulula ukudida ikwazi ukwenza izibikezelo esinembile ne ikhono lokwenza abanhliziyo esinembile.
Noma ubani elula, ngesandla wokubala ongenza inani lamanje (NPV) kanye isilinganiso sangaphakathi senzuzo (IRR) izibalo. I kusungulwa spreadsheet esebenza nge-computer iye yashubisa le nkinga, kokudala inkohliso sihlaziya futhi ukucabangela, ngisho ozenzekelayo iningi imizamo.
Ngokuvamile, yabatshali bezimali beka okukhulu ukubaluleka on the okukhiphayo, nakuba zinaka kangako ezizathwini. “udoti, udoti” kuyinto umchaze kahle inqubo.
In Security Analysis, Graham and David Dodd okuxoxwe nomqondo uhla value - “Iphuzu ebalulekile wukuthi ezokuphepha ukuhlaziya akafuni ukucacisa kahle ukuthi ukubaluleka eziwumgogodla yesibambiso inikezwe. Kumele kuphela ukusungula ukuthi value sihambisana - isb, ukuvikela isibopho noma ukuze bathethelele ukuthenga isitokwe noma okunye ukuthi value itsatfwa ephakeme noma kakhulu ngaphansi intengo emakethe. Ngezinhloso esinjalo ngesilinganiso nanini futhi cishe value eziwumgogodla kungase kwanele.”
Ngempela, Graham njalo wenza ukucabanga eyaziwa ngokuthi net kokusebenza share ngalinye, ngemuva-of-the- imvilophi estimate ngokumiswa value senkampani. Ukusebenzisa kwakhe igama le isilinganiselo rough kwaba ukuvuma ngeziphansi ukuthi wayevame ayikwazanga ziqiniseke value senkampani ngokunembile.
#21: Kungani ohlangothini Safety
Value ukutshala izimali isiyalo ukuthenga izibambiso at isaphulelo esiphawulekayo ezintweni ebenza zamanje futhi ebenza kuze ngaphezulu value abo loluphelele. I element of ukuhlabana kuyisihluthulelo inqubo.
Ngoba ukutshala izimali njengoba okuningi kuyikhono isayensi, yabatshali bezimali badinga nesilinganiso esithile sokuphepha. A ohlangothini ukuphepha kuba yipumelelo lokha izibambiso ithengwe ngamanani ngokwanele ngezansi value ecashile ngalokwanele kute luvumele iphutha womuntu, ishwa, noma simo esishubile ngokwedlulele isakhiwo, ezingalindelekile, futhi oguqukayo nezwe.
Ngokusho Graham, “I ohlangothini ukuphepha uhlale kuncike inani elikhokhiwe. Ukuze nanoma yikuphi ukuphepha, it kuyoba enkulu ngentengo eyodwa, encane ngentengo ezinye ephakeme, wawungekho ngentengo ezinye kuphakeme nakakhulu kunalezi zimfanelo.”
Value yabatshali bezimali bafune nesilinganiso esithile sokuphepha, okuvumela Igumbi for imprecision, ishwa, noma iphutha kohlaziyo ukuze ugweme ukulahlekelwa kwezimali kuyinto ezishisiwe ngokuhamba kwesikhathi. A ohlangothini ukuphepha kuyadingeka ngoba ...
• Tindlu kuyikhono eyahumusha
• Future akuqinisekile, futhi
• Zimali nabo bangabantu futhi bayawenza amaphutha.
#22: Margin Ungakanani Safety
Impendulo ziyahlukahluka kusuka eyodwa otshale izimali kuya elilandelayo. Kungakanani amashwa ingabe uzimisele futhi uyakwazi ukubekezelela? Singakanani esishubile ezintweni ibhizinisi Ungakwenza ukudla kwezimila? Kuyini ukubekezelelana wakho ngenxa yesiphambeko? Zehla engakanani ungakwazi ukukhokhela ukulahlekelwa.
yabatshali bezimali abaningi abafuni nesilinganiso esithile sokuphepha in Holdings zabo. yabatshali bezimali Institutional ngubani bathenga amasheya njengendlela ezicucwini zamaphepha ukuze adayiswa futhi abahlala etshaliwe ngokugcwele ngaso sonke isikhathi bayahluleka ukuba sifinyelele nesilinganiso esithile sokuphepha. yabatshali bezimali Greedy umuntu alandele izitayela emakethe futhi izimfashini basesimweni esikebheni efanayo.
Okuwukuphela wekhasi abatshalizimali ukuthenga Wall Street underwritings noma yezimali-market emisha ngokuvamile nakho kuyinto ohlangothini babezifaka engozini enkulu.
yabatshali bezimali bangaqiniseka kanjani ngayo uma ungayifinyelela nesilinganiso esithile sokuphepha?
• By njalo ukuthenga at isaphulelo esiphawulekayo ukuze ecashile value ibhizinisi futhi enikeza preference emafeni ezingokoqobo phezu intangibles. (Lokhu akusho ukuthi kukhona amathuba amahle izimali ezitshalwayo ohlangothini lapho amabhizinisi ezibaluleke angaphatheki akuzona.)
• ngokufaka esikhundleni Holdings zamanje ezisendalini kangcono eze kanye.
• Lapho bezidayisa lapho intengo emakethe noma iyiphi imali iza ukubonakalisa value kwesimangalo futhi ngokubamba cash, uma kunesidingo, kuze nokutshalwa kwezimali kweminye imikhakha ezikhangayo esetholakala.
Abatshali bezimali kufanele sinake hhayi kuphela ngabe kodwa ukuba kungani Holdings zamanje bengahlonishwa.
Kubalulekile ukwazi ukuthi kungani ozenzile i utshalomali futhi adayise lapho isizathu sokuba unazo bengasekho abantu osebenza. Funa nokutshalwa nge ekwenyuseni ukuthi ingasiza ngqo ukufezwa value ecashile.
Nikeza bakhethe izinkampani kokuba managements obuhle esigxotsheni yezezimali ebhizinisini. Ekugcineni, ehlukahlukene Holdings yakho futhi uthango uma ikhange ngokwezimali ukwenza kanjalo.
#23: Three Elements of Value Ukubeka
1. Iphezulu elingaphansi: Value nokutshala izimali abasebenzi isu phansi-up by ngazo amathuba okutshala izimali ngamunye abaziwa eyodwa ngesikhathi ngokusebenzisa analysis lasisekelo. Value yabatshali bezimali ukucinga ezisendalini ukuphepha nokuvikeleka, Ekuhlaziyeni isimo ngasinye ngesimo saso.
Lonke isu kungaba ngamafuphi wachazwa ngokuthi “ukuthenga ishibhile futhi ulinde.” Abatshali bezimali kufanele bafunde ukuba bahlole ukubaluleka ukuze ukwazi ishibhile lapho bebona omunye.
Khona-ke kumelwe abonise isineke futhi bayale izingane ukuze nje silinda kuze kube ishibhile liphuma usesho futhi uyithenga, kungakhathaliseki isiqondiso owawukhona emakethe noma imibono yabo siqu mayelana umnotho wonkhana.
2. Absolute-Performance Orientation: Iningi tetikhungo tekuhlola kanye abaningi yabatshali bezimali ngamanye asebenzisa orientation isihlobo ukusebenza. Asisa unomgomo outperforming noma emakethe, nezinye abatshala izimali, abasekhaya, noma kokubili futhi ngokusobala ungabi nandaba ukuthi leso impumelelo ukumela lwenzuzo eliphelele noma ukulahleka.
ukusebenza Good isihlobo, ikakhulukazi short-term ukusebenza isihlobo, Kuyinkolelo evamile wafuna kungaba ngokulingisa lokho abanye abakwenzayo noma ngokuzama outguess ukuthi abanye benze.
Value abatshala izimali, abasekhaya, Ngokungafani no-Eva, basuke absolute-ukusebenza ngamakhasimende; Ayathanda uyabuya maqondana kuphela njengoba iphathelene ukuzuzwa tabo imigomo utshalomali, hhayi ukuthi zingakanani uma ziqhathaniswa endleleni jikelele
emakethe noma ezinye izimali zabo emabhizinisi ababengaphathekile. ukusebenza Good absolute etholwe ngokuthenga izibambiso bengahlonishwa ngenkathi ukuthengisa Holdings ezingenwa zenani elingaphezu ngokwengeziwe. Zimali iningi uyabuya eliphelele yibo kuphela ukuthi ngempela udaba; ngeke ukwazi, ngemva kwakho konke, ukuchitha ukusebenza isihlobo.
yabatshali bezimali Absolute-ogxile ekusebenzeni ngokuvamile atsatse umbono yesikhathi eside ukwedlula isihlobo ukusebenza- yabatshali bezimali ngamakhasimende. Zimali isihlobo-ogxile ekusebenzeni ngokuvamile bengazimisele noma bengakwazi ukubekezelela isikhathi eside okwanele futhi kukhona- fore otshala imali noma yini okwamanje ethandwa. Uma wenza okuphambene nalokho kungase kukhinyabeze Imiphumela eduze-term.
abatshala izimali, abasekhaya-ogxile ekusebenzeni isihlobo singase empeleni shun izimo ezinikeza ngokucacile uyabuya ezikhangayo eliphelele ngokuhamba kwesikhathi uma okuwenza azibeke engozini yokubizwa edude-term anesandla. Ngokuphambene, eliphelele- ukusebenza- yabatshali bezimali ngamakhasimende yizona cishe bakhetha out-of-umusa Holdings ukuthi kungathatha isikhathi eside ukuba eze ophawulekayo kodwa futhi ukuba ingozi kancane of ukulahleka.
3. Risk kanye Return: Nakuba ezinye yabatshali bezimali kakhulu preoccupied yimalini zingenza hhayi nhlobo malini bangase balahlekelwe, Inani yabatshali bezimali ukugxila engozini kanye nokubuya.
Risk bezibona engqondweni otshale izimali ngamunye obuvela ukuhlolisiswa ematfuba kanye nenani ukulahlekelwa okukhulu kusukela ebekwe ebhange ukuze izale. Uma amafutha ngokuhlola efakazela kahle imbobo eyomile, ibizwa ngokuthi ngokwezocansi okuyingozi. Uma ishintshela isibopho noma ingamamitha stock amanani, bebizwa ngokwezocansi okuyingozi.
Kodwa uma umthombo a gusher, esibophweni ukuvuthwa ngesikhathi esasimisiwe, futhi stock iphika ngokuqinile, singathi babengesibo ngokwezocansi okuyingozi lapho wenza utshalomali? Lutho neze.
Iphuzu liwukuthi, Ezikhathini eziningi abekho okwengeziwe mayelana nobungozi utshalomali eyaziwa emva kuphothulwe kwaziwa lapho senziwa.
Kukhona izinto ezimbalwa kuphela yabatshali bezimali ongayenza ukuze umelane ingozi: ehlukahlukene tidzingidvwe ngalokwanele, uthango lapho kufaneleka, futhi izimali nge nesilinganiso esithile sokuphepha. Kungenxa yingenxa esingaziqondi futhi ngeke bakwazi konke izingozi zimali silwela izimali at isaphulelo. Isici ukuhlabana kusiza ukunikeza umcamelo ngoba uma izinto zingahambi kahle.
#24: Overpaying for Growth
Kukhona abatshali bezimali abaningi abenza izinqumo kuphela ngesisekelo izibikezelo zabo siqu lokuthi ayokhula kusasa. Ngemva kwakho konke, ngokushesha imali noma cash flow ibhizinisi bukhula, nenani elikhulu lelo bhizinisi samanje. Nokho ubunzima eziningana bhekana yabatshali bezimali ukukhula ngamakhasimende.
Okokuqala, yabatshali bezimali ezinjalo njalo zibonisa ukuthi ayaqiniseka ephakeme ikhono labo ukubikezela ikusasa kuka siyadingeka. Okwesibili, amabhizinisi elikhula ngisho umehluko omncane kuya womuntu tilinganiso wonyaka zingaba nethonya elikhulu ukulinganisa.
Ngaphezu kwalokho, zimali abaningi kangaka kokuzama sokuthenga i-stock izinkampani ukukhula, amanani entengo ukukhetha ukuvumelana angase afinyelele emacophelweni engasekelwe by eziyisisekelo.
Njengoba bengena kule “Business Hall of Fame” njalo ekhuluma ngalé komnyango ehamba, yabatshali bezimali ngezinye izikhathi bangase anxenxelwe ekwenzeni emisebenzi nalapho kungasadingekile ukuthi ayemakhulu amathemba ababenawo esekelwe ngemiphumela eyizingqabavu okwesikhashana, ngaleyo ndlela ngibenza ukuba overpay amabhizinisi Okuqukethwe akuzwakali.
Enye into eyindida ne nokutshala izimali esekelwe ukukhula liwukuthi nakuba yabatshali bezimali bathambekele zenza ukukhula ibe inombolo eyodwa, ukukhula, Empeleni, sakhiwe izingxenye eziningi ezihamba ngazo iyashiyana nokubikezela zabo. Ukuze yiliphi ibhizinisi ethile, Ngokwesibonelo, ukukhula Amaholo kungaba ibangelwa lenyuke unit yokuthengisa ezihlobene nkomoni
kwandisa emphakathini, ukusetshenziswa okwandisiwe umkhiqizo abathengi, ukwabelana emakethe lenyuke, ukuze Ukungena mkhulu umkhiqizo zibe labantu, noma amanani ukwenyuka.
Warren Buffett akushilo, “Ngoba zimali, a kakhulu-high ukuthenga intengo yamasheya inkampani omuhle angaqeda imiphumela eyishumi alandelayo evumayo nentuthuko zebhizinisi.”
#25: Shenanigans Zokwanda
Ngokuvamile Zimali banethemba ngokweqile ababheka ngayo ikusasa. Isibonelo esihle salokhu evamile yokusabela ezinkampani bhala-offs.
Lokhu accounting mkhuba kwenza inkampani ngokuzikhethela kwayo ukuze kuhlanzwe indlu, owavele balahle- ding uqobo kwempahla ngendlela egculisayo, Receivables uncollectible, loans ezimbi, kanye nezindleko okungenwe kuzona iyiphi yokuhlela kabusha corporate lokuhambisana bhala-off.
Ngokuvamile zithuthwa izisebenzisa ngomdlandla lezi wabingelela by Wall Street nabahlaziyi kanye zimali ngokufanayo; post-bhala-off inkampani ngokuvamile ibika ukubuya ephakeme on ukulingana kangcono inzuzo. Imiphumela enjalo ethuthukisiwe bese afakwa nasesikhathini esizayo, ulunge kangakanani inani stock market ephakeme. Zimali, Nokho, akufanele ngesandla esivuleke kangaka uvumele wonke amacala ahoxiswa ukuba kuyosuswa.
Lapho amaphutha zomlando kahle, kulula kakhulu ukubuka esidlule iphutha khulula. It is ke kuphela isinyathelo esincane ezengeziwe kuphrojekthi le ayinamaphutsa esidlule ebheke phambili, okwenza isibikezelo ekwenzekeni kwento engenakwenzeka ukuthi akukho ukuhlinzwa enenzuzo okwamanje ngizoya omuncu nokuthi akukho nokutshalwa abampofu ozophinde kwenziwe.
#26: Conservatism Nokwanda Ukubeka
Kanjani ukubaluleka yabatshali bezimali ukubhekana nesidingo kohlaziyo ukubikezela esishintshashintshayo?
Impendulo kuphela kuba conservatism. Njengoba zonke Tilinganiso akhonjelwe amaphutha, abanhliziyo ukuthi ayemakhulu amathemba ababenawo bathambekele ukubeka abatshalizimali ngohlelo ithambo engenamali. Cishe yonke into kufanele zihambe kahle, noma kungenzeka kube khona ukulahlekelwa eyaqinisa.
Isibikezelo sezulu sezinsuku Conservative kungaba wahlangana kalula kakhudlwana noma kudlulwe. Abatshali kwabalulekwayo ukwenza emisebenzi ngoludala kuphela bese ukutshala kuphela at isaphulelo olutheni kusukela ukulinganisa elisuselwa therefrom.
#27: Indlela ucwaningo kakhulu kanye Analysis anele?
Abanye abatshali bezimali angaphikelela ekutheni uzama ukuthola ulwazi ephelele mayelana izimali zabo lapho esongelwa, kucwaninga izinkampani baze bacabange bayazi konke kukhona ukwazi ngabo. They ukutadisha embonini kanye nokuncintisana, xhumana abasebenzi zangaphambili, umkhakha consultants, nabahlaziyi, futhi beba mathupha nabaphathi abaphezulu. Behlaziya izitatimende zezimali minyaka eyishumi nanhlanu edlulile intengo yamasheya izitayela ngisho isikhathi eside.
Lokhu inkuthalo kuyinto nobabazekayo, kodwa amaphutha ezimbili. Okokuqala, kungakhathaliseki ukuthi ucwaningo kakhulu wenziwa, abanye ulwazi uhlala esiyivelakancane njalo; yabatshali bezimali kufanele zifunde ukuphila ngokuncane kuka ukwaziswa okuphelele. Okwesibili, ngisho uma umtshali wemali uyobe angazi wonke amaqiniso mayelana an utshalomali, yena noma yena wayengeke ngempela kusizani.
Lokhu akusho ukuthi ukuhlaziya ayisisekelo akusizi. Ngokuqinisekile.
Kodwa ulwazi ngokuvamile ilandela owaziwa 80/20 ukubusa: okokuqala 80 abangamaphesenti angu-ulwazi olutholakala uyabuthwa in the first 20 amaphesenti angu isikhathi esichithwa. Inani of e-ukujula analysis esiyinhloko siwukuthi kuncike kancane uyabuya eziseceleni nemibhalo.
yabatshali bezimali Iningi lwela okwaphelela for ngokuqiniseka nokunemba, Ngokugwema izimo lapho ulwazi kunzima ukuthola. Nokho ukungaqiniseki okusezingeni ngokuvamile ephelezelwa ngamanani aphansi. By the time ukungaqiniseki isixazululiwe, amanani cishe ivukile.
Abatshalizimali njalo bazuze senza izinqumo zokutshala izimali nge esingaphansi nolwazi ephelele futhi kahle bavuzwa ukuzalela ingozi yokungaqiniseki.
Isikhathi nezinye yabatshali bezimali lesisicitsa sijule wokugcina imininingwane eminingi engaphenduleki angase alahlekelwe ithuba ukuthenga ngamanani aphansi kangangokuthi zinikeza ohlangothini ukuphepha naphezu selwazi.
#28: Value Ukutshala izimali kanye Thinking contrarian
Value nokutshala izimali by iyafika contrarian. Out-of-umusa kungase izibambiso bengahlonishwa; izibambiso ethandwa cishe never kukhona. Yini wezinkomo ukuthenga kuyinto, Uma zichazwa, esivuna. Securities esivuna sezivele ukuvalelisa up intengo ngesisekelo okulindelwe babenethemba lokuhle futhi cishe ukumela inani elihle ukuthi uye oshiyiwe.
Uma Inani akuyona cishe zikhona yini nokomhlambi wezinkomo ukuthenga, lapho kwangathi akhona? In lokho basuke ukuthengisa, unaware of, noma ukuziba. Lapho wezinkomo ithengisa security, intengo emakethe angawa kahle ngaphesheya isizathu. Izitshiwe, obscure, noma izibambiso okudalwe kungase kube ngokufanayo noma babe bengahlonishwa.
Abatshalizimali bangase bakuthole kunzima ukuba senze njengoba contrarians ngoba azisoze bangaqiniseka ukuthi uyahlukanisa yini noma lapho uzobe proven lesifanele. Njengoba basuke olwa isixuku, contrarians cishe njalo ekucaleni okungalungile futhi cishe isikhathi ukuba zilimale iphepha. Ngokuphambene, amalungu wezinkomo cishe esifanele isikhathi esiyiminyaka njalo. Akukona nje kuphela ukuthi contrarians ekucaleni okungalungile, bangase babe okungalungile kaningi futhi isikhathi eside kunabanye ngenxa emakethe Amathrendi Ungaqhubeka eside esidlule futhi ungabeki mingcele idingeka khona ngenxa value ecashile.
Sibambe umbono Kunalokho isikhathi akusebenzi ukuze zimali, Nokho. Lapho imicabango yabantu owandile babe ayinalo ithonya endleleni enkingeni obhekene nayo, akukho esizuzwe ngamanga ebhukuda ngokumelene amagagasi. Kuyinto njalo isinqumo ilanga lizophuma kusasa, kodwa lo mbono akusho ukuthonya umphumela.
#29: Ubuze besimo yenkomba
Ukuze value yabatshali bezimali welithi nangenkomba kuyinto at best silly kanye neze impela enobungozi.
Warren Buffett uye waphawula ukuthi “akunoma yiluphi uhlobo emncintiswaneni — zezimali, ngokwengqondo noma ngokomzimba — kungcono inzuzo elikhulu ube izimbangi abaye bafundiswa ukuthi kungcono engenamsebenzi izame ngisho nokuzama.” Ngikholelwa ukuthi ngokuhamba kwesikhathi value yabatshali bezimali ngeke ziphumelela kangcono emakethe nokuthi sikhetha ukufanisa kucishe kube njalo kokubili lazy nokuba nomqondo omfushane uma.
Yenkomba isu eyingozi kunemaphutsa ngenxa yezizathu eziningana. Okokuqala, kuba ngowakho uma abatshalizimali nokuningi nkolelo.
Nakuba Indexing is predicated ezimakethe ephumelelayo, ayanda iphesenti bonke abatshalizimali Inkomba, the kahle more izimakethe babe njengoba abatshalizimali ezincane laliyodluliselwa kokwenza ucwaningo kanye nokuhlaziywa ayingqalasizinda.
Ngempela, at the ngokwedlulele, uma wonke umuntu wayekwenza indexing, zesito ngeke zishintshe isihlobo nomunye ngoba akekho bangahlala kuzenze.
Enye inkinga kuphakama lapho umsebenzi owodwa noma ngaphezulu Inkomba amasheya kumelwe ithathelwe; lokhu kwenzeka uma ilungu Inkomba iya yimali noma lutholwa endaweni kombuso.
Ngoba indexers ufuna ngokugcwele izimali izibambiso aqukethe lwezikhombo zonke izikhathi ukuze ukufanisa ukusebenza kwe-index, ukulondeka yengezwe lwezikhombo indawo kumele ngokushesha ukuthengwa ngamakhulu noma mhlawumbe izinkulungwane nabaphathi bamaphothifoliyo aba.
Ngenxa zezimali limited, Ngosuku ukuthi stock entsha yengezwe inkomba, ngokuvamile Usephumile appreciably intengo njengoba indexers Ungagijimeli ukuthenga. Nothing eliyisisekelo ishintshile; lutho kwenza ukuthi isitokwe nibaluleke namuhla kunayizolo. Empeleni, abantu bazimisele ukukhokha balowo stock nje ngoba uye waba yingxenye index.
Ngikholelwa ukuthi indexing Kuyophumela ethubeni lokuba kube nomunye nje mkhuba Wall Street. Lapho sidlula, amanani izibambiso afakwe nezincwadi zezikhombo ethandwa cishe ngokuqinisekile ukunqabela isihlobo labo eziye babeshiywe ngaphandle ngokwendabuko.
ngokuphawulekayo Ngini, njengoba Barron sika khomba, "A self-abalwazi kahle ulimi impendulo loop sidaliwe, lapho impumelelo ye nangenkomba uye waqinisa ukusebenza kwe-index ngokwayo, okuyinto, esikhundleni salokho ikhuthaza indexing ngaphezulu.”
Lapho lo mkhuba emakethe kushintsha, ukumadanisa emakethe ngeke abonakale ekhanga kangaka, nokudayiswa tando ngalesosikhathi zibulale nokwenziwa indexers futhi eminye babhebhethekisa rush for the kweminyango.
#30: Kuyinto Indawo Dangerous
Wall Street kungaba yindawo eyingozi zimali. Awunawo choice kodwa ukwenza ibhizinisi khona, kodwa kumelwe ngaso sonke isikhathi niqaphe.
Ukuziphatha okujwayelekile of Wall Streeters uwukuba maximization self-interest; ukuma kuvamise esifishane. Lokhu kufanele kuvunywe, esamukelekile, begodu kusetjenzwe ngawo. Uma transact ibhizinisi ne Wall Street nalaba nezixwayiso engqondweni, wena nampumelelo.
Uma uncike emandleni Wall Street ukukusiza, Impumelelo utshalomali ingahlala esiyivelakancane.
—————————————————————————————
Ungase futhi uthumele ukuba isixhumanisi esilandelayo lapho bangakwazi ubhalisele The Safal Niveshak Post ngokwabo futhi wamukele lokhu Umbiko Special for free - http://eepurl.com/cYgak
Engeza kuzintandokazi
