Thenga kwaye Ubambe Ngenye yeZindlela ezi-5 zokuzuza kwiiMpawu ezikhangayo
Amaqhinga ama-5
Kwabo bambalwa abazityala-mali-mali, ubaba wexabiso lokutshala imali, uBenjamin Graham, waqaphela iintlobo ezintlanu zesitya-mali esisisigxina esingabangela ukuba kubekho ukubuyisela okungcono kunaphezulu.
Umphathi wephothifoliyo ozinikeleyo ofuna ukuhlanganisa i-capital, wabhala ngezi zixhobo kwi-1949 ye -Intelligent Investor edition:
- Ukuthengisa ngokubanzi- Ukulindela okanye ukuthatha inxaxheba ekuqhubeni kweemarike ngokubanzi, njengoko kuboniswe "kwimimandla".
- Ukuhweba okukhethiweyo - Ukukhupha iisitokisi eziza kwenza ngcono, ngaphezu kwexesha lonyaka okanye ngaphantsi kweemarike.
- Ukuthenga ngexabiso elithengiweyo nokuthengisa othandekayo - Ukuza kumakethi xa amaxabiso kunye nokuvakalelwa bexinzelelekile kwaye bathengise xa bobabini bephakanyisiwe.
- Ukukhethwa kwexesha elide - Ukukhupha iinkampani eziza kuphumelela kwiminyaka edlulileyo kunokuba ishishini eliqhelekileyo. (Ezi zihlandlo zibizwa ngokuthi "iindawo zokukhula.")
- Ukuthengwa Kwezinto Ezilungileyo - Ukukhetha imiba ethengisa kakhulu ngaphantsi kwexabiso labo lokwenene, njengoko lilinganiswe ngamasu anokuthenjwa ngokufanelekileyo.
U-Graham uyaqhubeka nokujongana nomntu othile otyalileyo oza kubakho ukujongana nendlela yokuphatha iphothifoliyo yakhe ethi, "Ukuba umtyalomali kufuneka azame ukuthenga aphantsi aze athengise phezulu, nokuba ngaba unokufanelekile ukuba abambelele ngokuqinisekileyo okukhuselekileyo ngokuqinisekileyo. zincinci-zixhomekeke kuphela ekuhloliseni iimviwo zabo zangaphakathi-enye yezinto ezikhethiweyo zomgaqo ngamnye umntu azenzele wona.
Apha isimo sengqondo kunye nemeko yomntu ingaba yimiqathango. "
Ngamafutshane, uGraham uxela ukuba umntu osondele kwihlabathi lezoshishino unokukhululeka kunye nesicwangciso esisebenzayo, esithengiweyo, isicwangciso esithengisayo. Kodwa thina sonke, sithatha nje ukujonga umbono wexesha elide kunye nokutyalomali kwiimali ezilandelelanisa imarike yindlela efanelekileyo yokutyalo-mali.
Indlela nganye ifuna isisombululo, isilungelelaniso, isistim. Isitshixo sihambisana. Ngokomntu, ndibandakanya iindlela ezi-3, 4, kunye ne-5 xa ndilawula iiphothifoliyo zam, kunye neephothifoliyo zamashishini am. Zifanele kakuhle ngokuzithandayo kunye namanani; Ndiyathanda ukucinga ixesha elide malunga neengcamango ezimbalwa ezinkulu. Andifuni ukubambelela kwideskiti yam ukujonga ukuba imarike yemasheya yenza ntoni nawuphi na usuku okanye iveki. Enyanisweni, andinalo uluvo malunga nokuba ama-stocks aya kuba ngama-50% okanye angaphantsi kwama-50% ngeli xesha kunyaka ozayo, kwaye akunandaba nam. Ndiba nobomi bokuphila kunye nemali ayikho into engandinceda ukuba ndiyenze okanye ndifikelele kwizinto endizifunayo. Abanye abatyali-mali abaphumelelayo abavakalelwa ngaloo ndlela; baninzi babandakanyeka kwiibhentshana ezifutshane kunye nexesha elizayo kakhulu kwiimarike zeemasheke zentengiso, into endiyenayo ukuyenza nangona ndiyiqonda kwaye ndiyixabisa.
Ndineentliziyo zomlimi; Ndiyathanda ukubukela izinto zikhule. Ndiyonwaba kakhulu ukubona izikhundla ezithengiweyo ezifumanekayo ngexesha lokuphazamiseka, ukuhanjiswa, kunye nokudibanisa, ezihlala kwi- balance sheet . Ndiyathanda ukubabona bekhula, bahlawula iindleko, ngamanye amaxesha baze baqhube kwiinkampani ezintsha. Oku kuthetha ukuba ndimele ndithintele kwiqhezu elithile leenkampani ezifakwe ku-2000 kwi-United States, kunye nama-30,000 amafayile ehlabathini.
Ndibaxabisa, ulinde ude uqoqosho, okanye iimeko, zenze umzuzu okhangayo ngexesha apho ndingayithenga khona. Kwaye ndihlala ndithatha utyalo-mali lwam ixesha elide.
Kule ndawo ethile yolawulo lwephothifoliyo, akukho mpendulo echanekileyo okanye engalunganga xa nje uziphatha ngendlela efanelekileyo, usebenzisa iifayili kunye nedatha ukuze uphinde ukhumbule izenzo zakho, kwaye uzama ukuzama ukunciphisa umngcipheko, ngelixa ugcina ukukhutshwa kwempahla kunye nokukhuseleko. Kufuneka uthathe isigqibo malunga naluphi uhlobo lomtyalomali oza kuba.