Iingcamango nokuqwalasela ukukunceda ukukhula nokukhusela imali yakho
UkuTyala inqaku # 1: Gxininisa kwiindleko, kodwa ungabi yiPenny-Ihlakaniphile kunye nePound
Kwinqaku lam ngethuba lexabiso lemali , ufumene ukuba ukungafani kancinci kwisantya apho udibanisa imali yakho kunokuchaphazela ngokugqithiseleyo ubuninzi bezobutyebi ozifumanayo.
Cinga ukuba u-3% wokubuya ngonyaka uya kubangela imali engama-3x kwimali engaphezu kwama-50! Amandla omdla wekhampani uyamangalisa ngokwenene.
Indlela ekhuselekileyo yokuzama ukuthabatha amanqaku ambalwa okubuyisela, njengokuba kukho nawuphi na ishishini elifanelekileyo, ulawulo lweendleko. Ukuba ubhaliswe kwiprogram yokubuyisela inzuzo okanye i-DRIP ehlawula i-$ 2 kwintalo -mali ngamnye kwaye ulahla i-$ 50 ngenyanga, iindleko zakho zidla ngokukhawuleza i-4% yenqununu yakho. Oku kunokwenza ingqondo kwiimeko ezithile. Umzekelo, intsapho yam isinike udadewethu omncinci isabelo se-Coca-Cola kwisitoreji kwiminyaka ekhethekileyo ye-akhawunti eyaziwa ngokuba yi-UTMA kwaye iyenze injongo yayo ngokufanelekileyo. Kuyi nyaniso ukuba, ekunikezeni ixesha lokuphila kwakhe, ukuba ixabiso lokuqala le-4%, elingazange lilandelelwe ngokwemali ye-dollar eyiyo kwiqonga elikhulu lezinto, liya kuphelelwa lixabiso elincinci kunomlinganiselo weendleko zentengiso kwixabiso lexabiso eliphantsi. ngaphezu kwamashumi eminyaka ezayo kuba kwakukho ixesha elilodwa, iindleko eziphambili, ezingaze ziphindwe.
Ingxaki kukuba abaninzi abatyalo-mali abazi ukuba zeziphi iindleko ezinengqiqo kwaye zeziphi iindleko kufuneka zikhutshwe. Ukongeza kule ngxaki kukuba kukho ukwahlula okukhulu phakathi kobutyebi kunye namacandelo aphantsi naphakathi adala into eyenza inkunkuma yemali kwelinye nqanaba ibe yinto ebalulekileyo kumnye.
Umzekelo, kuya kubakho ukuqonda ukuba umntu ufumana i-$ 50,000 ngonyaka ngaphandle kwesikhundla-sikhundla esikhulu sokushiya umcebisi-mali-mali ngokupheleleyo, ngaphandle kokuba kukho izibonelelo zokuziphatha ezikhokelela kwiziphumo ezingcono okanye ukulungelelanisa nje, njengabantu abaninzi , endaweni yokukhetha isithuba esithile esikhethiweyo senkxaso-mali . Oku kuyinyani nxamnye neendlela ezinzima ezithe zafakwa ngokuzenzekelayo kwizinto ezifana ne-S & P 500 imali yeengxelo kwiiminyaka zamuva. (Kukho oku kukhwabanisa, okuqhelekileyo kubanjwe ngabasomali abanamava, ukuba i-S & P 500 ilawulwa ngokungathandabuzekiyo, ayikho. Ilawulwa ngokukodwa yikomiti, kuphela ikomiti ilungiselele imithetho ngendlela efuna ukunciphisa umvuzo.) Le Inye ndlela idlalwa ngumntu ocebileyo. Njengoko abantu abanjengoJohn Bogle, umsunguli weVanguard, baxelele, abatyala-mali abatyebileyo abanempahla eninzi ehlawuliswayo bafuna ukuthabatha indlela yokwenza inkcazo bekuya kuba ngcono xa bethenga amasheya, ukuhlaziya kwakhona i-index yabo kwi- akhawunti yokugcina . Umtyalomali ocebileyo unokuphelisa ngemali engaphezulu kwipokoth yakhe, zonke izinto ezicatshangelwayo, ukuhlawula phakathi kwe-0.25% kunye no-0.75% kwisipotifoliyo esingekho ngqo kwi-potifoliyo kunokuba abe neengxowa-mali ezibonisa ukuba nexabiso eliphantsi umlinganiselo we, uthi, 0.05%.
Isityebi asisidenge. Bayazi oku. Abangasityebi bathetha njalo ngabo babonisa ukungakwazi kwabo izinto ezifana neendlela zendlela zerhafu ezichongiweyo.
Ngaphandle kwalokhu, kukho izizathu ezininzi ezichukumisayo ukuba izityebi zingakhethi ngokukhethekileyo ukusebenzisana nomcebisi-mali obhalisiweyo ongenanto yokwenza ukubetha imarike. Ngokomzekelo, isigqeba sokuthatha umhlalaphantsi sinokuthi sibe nesigxininiso kwisitokethi somqeshi wangaphambili kunye nexanduva elikhulu lokuhlawulwa kwentela . Umphathi weepotfoliyo onobuchule angenza izinto ezinjenge-extract engenayo ngokuthengisa iifowuni ezichasene nezikhundla, ukuthengwa kukukhusela ekujongeni umngcipheko wokutshatyalaliswa, kunye nokuzama ukugcina isabelo esiningi esithandwayo kangako ukuze sisebenzise ngokunjalo ukuqhubela phambili ukuba ungadlulisela isitokethi kubantwana bakho, ukuba ube neentlawulo ezingenakubhaliswa ngokutsha ngokukhawuleza zithethelelwe.
Imali yokuhlawula imali onokuyihlawula loo nkonzo ingaba intshontsho, nokuba phakathi kwe-1% kunye no-2% phantsi kwimeko enjalo. Inyaniso yokuba iya kubonakala ngathi iphothifoliyo yakho engaphantsi kweemarike iya kuba yinto engenakwenzeka. Usapho lwakho luphelile lucebile kunokuba lube lube nolunye ulungelelaniso lwengozi emva kokuhlawula ingozi, nto leyo ibalulekileyo. Oku kuyinto ephantsi neeklasi eziphakathi azisoze azixhalabele xa zijongene neefowilifo zabo.
Ukwazi ukuba yeyiphi imirhumo iyalungela amaxesha amaninzi, kwaye yiyiphi imirhumo yokurhoxisa, yenye yezinto ezifuna amava ukuba wazi. Umzekelo, okwangoku, umrhumo osebenzayo kwi-$ 500,000 ye-trust fund ephethwe yiVanguard yi-1.57% yonke into ebandakanya ngexesha odibanise ngayo iindidi ezahlukeneyo zeendleko, ukulinganiswa kweendleko, njl. ungangena kwi- akhawunti ephethwe ngabanye kodwa, ngaphandle koko, oko ufumeneyo, yinto engummangaliso. Kukho isilumko ukuzama nokunciphisa loo mrhumo ngaphezulu. Ngakolunye uhlangothi, ukuhlawula ixabiso lentengo ye-1.57% yenkxaso-mali ephathekayo elawulwayo ngokubanzi ephethe iimpahla ezifana ne- Dow Jones Industrial Average ingacacanga .
I-Tip # 2: Ukunyamekela Imirhumo kunye nexabiso
Ukuxela umtyalo-mali owaziwayo uWarren Buffett , xa kuziwa ukulinganisa iziphumo zakho zotyalo-mali emva kwexesha, into ephambili ebalulekileyo kukuba uninzi ungabathenga ngeyona hamburgers ekupheleni kosuku. Ngamanye amagama, gxininisa kumandla okuthenga . Kuyamangalisa ukuba ngabaphathi abancinci beepolfoliyo baxhomekeke kwiimbuyekezo zangaphambili zerhafu kunokuba zibuyiswe emva kweerhafu okanye abangayithobeli izinga lokunyuka kwamaxabiso . Abaninzi bathengisa rhoqo kwaye nangona banokufumana i-9% ukuya kwi-12% kubatyalomali babo malunga nexesha elide, ukuba abo batyali-mali basesigxina esiphezulu serhafu, abatyali-mali baya kugqiba ngebutyebi obungaphantsi kunokuba bekungenjalo xa baqeshe umphathi okhuselekileyo owenza i-10% kodwa obanikeze utyalo-mali ngamehlo ngo-Ephreli 15. Ngoba? Ukongezelela kwiindleko ezinkulu ezinkulu ezibangelwa ukutyalo-mali-ixesha elide (ngokuchasene nokuthengiswa kwexesha elifutshane), kukho iinzuzo ezininzi zerhafu. Nazi ezinye zazo:
- Iimali ezincinci zentengo-mali zihlawulwa kwiirhafu zerhafu yengeniso. Kwisixeko saseNew York, umzekelo, iRhafu, uRhulumente, kunye neerhafu zommandla kwiintlobo zentlawulo yexesha elifutshane zidibana okanye zigqithise ama-50%! Kwinqanaba laseburhulumenteni, umonakalo omkhulu kakhulu u-39.6%. Ngokwahlukileyo, ukuzuza kwexesha elide, okanye ezo zivela kwiityalo-mali ezigcinwe unyaka omnye okanye ngaphezulu, zihlawulwa ngokukhawuleza phakathi kwe-0% kunye no-23.6% kwizinga likaRhulumente.
- Iintlawulo ezingabonakaliyo zihlobo "lokuthambisa" apho ungaqhubeka nokufumana inzuzo yokuqulunqa imali yakho. Ukuba uthengisa utyalo-mali ukuba uhambise imali kwisitokisitsha esitsha, isibophelelo , isikhwama sokubambisana , okanye omnye utyalo-mali, awuyi kuhlawula kuphela iikhomishini, kodwa kuya kufuneka unike umntu onetyala ukuba anqunywe inzuzo. Oko kuthetha ukuba imali okhoyo ukuyibuyisela iya kuba yinto ephantsi kakhulu kunani eliboniswe kwibhalansi yakho ngaphambi kokuba uhlawule isithuba. Yingakho iinjongo ezingcono kakhulu zotyalo-mali, ezifana noBenjamin Graham , zithi ufanele ucinge nje ukutshintshwa kolunye utyalo-mali uze ube kwelinye ukuba ucinga ukuba isikhundla esitsha sikhangele ngakumbi kunoko akhoyo. Ngamanye amazwi, akwanele ukuba kube "mncinci" okukhangayo ngakumbi - kufuneka kubonakale ngokucacileyo kuwe. Ukuze ufunde kabanzi malunga nesi sihloko, funda Usebenzisa Iimali eziThatywayo ukunyusa ukubuyisela kwakho imali .
- Kukuphi na indlela obeka ngayo utyalo-mali lwakho unokuthatha impembelelo enkulu kwizinga lakho lokugqibela. Ukuba unayo izabelo zeenkampani ezahlukeneyo, ezinye zee-stocks zinokuhlawula imali eninzi yemali , ngelixa abanye bafumana inzuzo enkulu ukuxhasa ukwanda kwexesha elizayo. (Ukuze ufunde ukuba kutheni le nto eyenzekayo, funda Ukumisela ukuKhutshwa kweMida: Xa kufuneka iNkampani ihlawule izivumelwano? ). Ezinye iintlobo zeekhonkilithi, ezinjengeebhanki zikamasipala ezingenaspala , ziyakhululwa kwiirhafu nokuba zigcinwe kwiakhawunti ezihlawulwa phantsi kweemeko ezifanelekileyo, ngelixa ezinye iintlobo zemivuzo enenzuzo , njengalezo eziveliswe zibophelelo zenkampani ezigcinwe kwi-akhawunti yesiqhelo ye-brokerage, ingahlawuliswa phantse kwi-50% ngelixa ungeze kwi-Federal, uRhulumente kunye neerhafu zendawo. Ngenxa yoko, kufuneka uqaphele ngenyameko apho, ngokuchanekileyo, kwi- balance sheet yakho i-asethi ekhoyo ifakwe ukuba ufuna ukufumana eyona nto kwimali yakho. Ngokomzekelo, awuyi kubamba iibhondi zikamasipala ezingenasipho ngeRoth IRA . Uzakubeka phambili ukubeka isahlulo sokuhlawula iifowuni kwindawo yokukhusela irhafu efana neRoth IRA kunye neentlawulo ezingenasabelo kwi- akhawunti yesiqhelo ye- brokerage .
- Njalo, rhoqo, rhoqo unomdla kwi-401k yakho ubuncinane ukuya kwisixa somlinganiso wakho womqeshi . Ukuba umqeshi wakho ufanisa i-$ 1 ye-$ 1 kwi-3% yokuqala, umzekelo, ngokukhawuleza ufumana imali eyi-100% kwimali yakho ngaphandle kokuthatha ingozi ! Nangona uthabatha imali ehambelana nayo kwaye upake i-401 (k) ibhalansi kwizinto ezinjengeengxowa-mali ezizinzileyo , imali ekhululekile.
- Musa ukungaziboni inzuzo yeempahla ezibonakala zikhohlakeleyo ezifana neChungechunge I-bonds yokulondoloza , ezinokubaluleka kwamanani okunyuka kwamaxabiso.
UkuTyala inqaku # 3: Yazi ixesha lokuthengisa i-Stock
Uyazi ukuba iindleko zokuxhatshazwa zingenza ukuthenga nokuthengisa isitokethi kwindlela yokuthengisa ngokukhawuleza ngokukhawuleza ukubuyisela ukubuyisela kwakho (ngolwazi olungakumbi, funda iindleko zoThutholo: Intlawulo yeNtlawulo yeTyalenti ). Sekunjalo, kukho amaxesha apho ungafuna ukwahlula esinye sezikhundla zakho zezithuba. Uyazi njani ukuba lixesha lokuba uthethile kwisitoko esithandayo? Ezi ngcebiso eziwuncedo zingenza ukuba ikholi ilula.
- Iintlawulo azizange zichazwe ngokufanelekileyo. (Ukuze ufumane ulwazi oluthe vetshe, jonga Ukulungiswa kweNkxaso-mboleko yePensheni yokuPhathwa kweeNzuzo , i- Worldcom's Magic Trick , kunye.)
- Amatyala akhula ngokukhawuleza. (Ukuze uthole ulwazi oluthe vetshe, jonga i- Debt to Equation Ratio .)
- Ukhuphiswano olutsha lunokulimaza kakhulu inzuzo yenkampani okanye isikhundla sokhuphiswano kwindawo yokuthengisa. (Ukuze uthole ulwazi oluthe vetshe, jonga iNkxaso kwi-Value of Franchise Value: Ukuguqula igama leBrama kwiNgeniso yeMali-mali ).
- Imigaqo yokuziphatha ingabaza. UBenjamin Graham uthe "awukwazi ukwenza ulungelelaniso oluninzi lokulawulwa kakubi, luphephe kuphela." Ngamanye amazwi, akukhathazeki ukuba isisitya esincinci kangakanani, ukuba ngaba abaphathi baxhamla, unokutshiswa.
- Icandelo lonke libhujiswa ngenxa yokuthengiswa kwemveliso yomgca wemveliso. (Ngolwazi oluthe vetshe, jonga Imiphunga yeBhizinisi loThengi .)
- Intengo yemarike yesitokisi ikhuphuke ngokukhawuleza kunokuba igalelo elihlaziyiweyo lilinganiselwa kwisabelo ngasinye. Ngokuhamba kwexesha, le meko ayigcinanga. (Ngolwazi oluthe vetshe, jonga iiNtlu ze-3 zengozi yotyalo-mali .)
- Ufuna imali kungekudala-iminyaka embalwa okanye ngaphantsi. Nangona izitokisi ziyimali -mali eyimfuneko yesikhathi eside , ukutshatyalaliswa kwexesha elifutshane kunokukwenza ukuba uthengise umzuzu ongabalulekanga, ukuvalela kwilahleko. Endaweni yoko, paka imali yakho kwi-investment ekhuselekileyo njenge-akhawunti yasebhanki okanye imali yeemakethi yemali.
- Awuyikuyiqonda ibhizinisi, yintoni eyenzayo, okanye indlela eyenza imali. (Ukuze ufumane ulwazi oluthe vetshe, jonga Invest in What You Know .)
Inqaku elibalulekileyo: Imbali ibonisile ukuba akuyiyo ingcamango efanelekileyo yokuthengisa ngenxa yezilindelo kwiimeko ze-macroeconomic, ezifana nesantya sokungabikho kwemisebenzi kazwelonke okanye ulwabiwo-mali lwabiwo-rhu lumente, okanye ngenxa yokuba ulindele ukuba imakethe yemasheya iyancipha kwi-short- kwexesha. Ukuhlalutya amabhangi nokubala ixabiso langaphakathi lilula. Awunalo ithuba lokuba uqikelele ngokuchanekileyo naluphi na ukuvumelana okuthengayo kwaye uthengise izigqibo zezigidi zabanye abatyali-mali abaneemeko zemali ezahlukeneyo kunye nobuchule bokuhlalutya. Ukuze ufunde kabanzi ngale sihloko, funda ntoni i-Market Timing? kunye nexesha leMarike, uValuation, kunye noThengiselo.
I-Tip # 4 - Akufuneki ukuba ube neNgqiqo kwiSitenki okanye kwi-Investment
Enye yezinto abaphuhlisi-mpahla abaphumelelayo ukuba bafana ngazo kukuba abanalo uluvo kuzo zonke izitishi kwi-Universe. Iifayile ezinkulu zokurhweba, amaqela olawulo lweempahla, kunye neebhanki zorhwebo zibonakala ngathi ziyimfuneko ukufakela ukulinganisela kuyo yonke into yokhuseleko elithengiswayo. Ezinye iindibano zemiboniso zemali ezithandwayo ziyaziqhayisa ngokubeka umbono wazo malunga nawo onke amabhizinisi athengiswayo.
Nangona oku kunokuba luncedo xa ukhangela izibophelelo zenkampani kunye nokufumanisa ukuba ngaba bathengisa ngakumbi kumlinganiselo weAAA okanye kwicala lokubambisa i-JA, kwiimeko ezininzi, ukugqithiswa kwamatriki kunokwenene. Utyalo-mali akusiyo inzululwazi ngqo. Ukuphazamisa amabini amashishini ababingeleli, akudingeki ukuba wazi ubunzima bomntu obunzima ukuba uyazihlamba, kwaye akufuneki ukuba ukwazi ukuphakama ngokukhawuleza komdlali webhasi lebhola ye-basketball ukwazi ukuba ubude kakhulu. Ukuba ugxininisa ekusebenzeni kuphela kulezo zimbalwa ziimeko apho unomqoqo ocacileyo kwaye ubukele amathuba afika rhoqo emva kwexesha elide, ngamanye amaxesha ngaphandle, unokwenza ngcono kunokuba abahlalutyi baseWall Street bahlala ubusuku obuzama ukuzama isigqibo sokuba i-Union Pacific ixabisa i-$ 50 okanye i-$ 52. Endaweni yoko, ulinde de ukuba isitokhwe sithengise kwi-$ 28 uze uqhube. Xa ufumana ishishini elihle kakhulu , udla ngokugqithiseleyo ngokugqithiseleyo ngokusondeza kunye nokubambelela kude kube sekufeni. Le ndlela iye yacacisa ezininzi zemali ezifihlakeleyo, kubandakanywa i-janitors efumana umvuzo omncinci kwaye ihleli imali engama-8,000,000.
Kutheni abatyali-mali bekufumanisa kunzima ukuvuma ukuba abanalo uluvo olucacileyo malunga nebhishini elithile kwixabiso lentengiso? Ngokuqhelekileyo, ukuzingca kwaye, ngokukhawuleza kwengqondo engaziwayo, yiyona nto. Ukufumana ulwazi oluthe xaxa malunga nendlela yokuwunqoba le mikhosi, funda i- Rationality: I-Artificial Secret Weapon .
UkuTyala inqaku # 5: Yazi yonke iNkampani (okanye kwiNgcaciso, iLonke iLo!)
Nangona ungenayo imbono malunga nomtsalane othile weempahla ezininzi kunoma yimuphi umzuzu, kufuneka wazi ama-shishini amaninzi njengoko unakho kumacandelo amaninzi kunye namashishini njengoko unakho. Oku kuthetha ukuqhelana nezinto ezinjengebuyisela kubulungisa kunye nokubuyela kwizinto . Kuthetha ukuqonda ukuba kutheni amashishini amabini abonakala ngathi afana nomhlaba angaba neenjini zoqoqosho ezahlukileyo kakhulu. oko kwahlula ishishini elilungileyo kwi shishini elikhulu.
Xa ebuzwa ukuba yiyiphi icebiso ayeza kunika umtyalomali omtsha ozama ukungena kwishishini namhlanje, uWarren Buffett wathi uya kukwazi ukufumana iinkampani ezininzi njengoko wayekwazi ukukwenza ngenxa yokuba le bhanki yolwazi yayiza kuba yinzuzo enkulu kunye nenzuzo yokukhuphisana. Ngokomzekelo, xa kwenzeka into ethile ukuba ucinga ukuba iya kwandisa iinzuzo zeenkampani zethusi, ukuba wawuzibonela phambili kushishino, kubandakanywa indawo ehambelanayo yeefemu ezahlukeneyo, uya kuba nako ukwenza ngokukhawuleza ngakumbi nangaphezulu Ukugqiba ukuqonda ngokupheleleyo umfanekiso opheleleyo, kunokuba ukuba kufuneka uqhelane ne-industry kuphela kodwa bonke abadlali ngaphakathi kulo ixesha elixinzelelweyo. (Qaphela ukuba akukho zicutshulwa zeli nqanaba ukuba iinjongo zakho zinobuchule.) Xa umgcini weemboniso zethelevishini waphendula eBuffett, "Kodwa kukho iinkampani ezingama-24,000 ezithengiswa ngabantu!" I-Warren yaphendula yathi, "Qala nge-A").
Ndicinga ukuba indawo efanelekileyo yokuqala ukuba abatshali-mali abaninzi bahambe kwiikhampani eziyi-1,800 kwi- Value Line Investment Survey .
Utyalo-mali # 6: Gxininisa ukubuyela kwii-inventories, kungekhona nje ukubuyela kwi-Equity
Ukuba awuzange ufunde izikhokelo zam ukuhlalutya iphepha lokulinganisela kunye nokuhlalutya isitatimenti sengeniso okwangoku, oku kungenako ukuqonda ngaphandle kokuba unayo imvelaphi yokubala. Nangona kunjalo, kubalulekile ke uqaphele kwaye ubuyele kwixesha elizayo xa unamakhono amaninzi. Uya kumbulela amashumi eminyaka ukususela ngoku ukuba unobulumko ngokwaneleyo ukuba uyisebenzise into endikufundisayo.
Abanini-zimali abaninzi bajolise kwi- DuPont imodeli yokubuyiselwa kwi-Equity iqumrhu elenzayo. Nangona le nto ibaluleke kakhulu, kwaye enye yezinto ezizithandayo zemali - eneneni, ukuba ufanele ugxile kwietrikhi enye eyakukunika ithuba elingcono kakhulu lokufumana ubutyebi kwiimali-mali zakho, Ukubeka iqoqo edibeneyo yeenkampani ngokubuyiselwa kwemali ephezulu ngokulinganayo- kukho uvavanyo olungcono lweempawu zezoqoqosho zenkampani, ngakumbi xa zisetyenziselwa kunye nomvuzo womnini. Nantsi oku: Ulwahlula ngeniso ngenani lemali yesistim kunye nesilinganiso esiphantsi kwepropati, izityalo kunye nezixhobo zokulinganisela njengoko kuboniswe kwibhalansi.
Kutheni olu luvavanyo lungcono? Ezinye iiratios zemali kunye neemetriki ziyakunxiba ukunikezela ngomnikelo wokuqala woluntu okanye ngabaphathi beenkampani. Olu vavanyo lunzima kakhulu ukufaka inkohliso.
Utyalo-mali # 7: Khangela uMnini-Sabelo-Ulawulo oluMhlobo
UBenjamin Franklin uthe ukuba ufuna ukukholisa umntu, bhenela umdla wakhe kunokuba afune isizathu. Ndiyakholelwa ukuba abatyali-mali banokufumana iziphumo ezingcono ezivela kubaphathi abanomthwalo wabo obophelelweyo kwi-shishini kunye nabangaphandle abatyala-mali. Nangona ingenakuqinisekisa ukuba yimpumelelo, ihamba indlela ende yokulungelelanisa nokubeka imibini yomibini kwicala elifanayo kwetafile.
Ndandisoloko ndibe ngumtsalane wezikhokelo zobunini kwiinkampani ezinjenge-US Bancorp ezifuna abaphathi ukugcina umvuzo othile wenkxaso-mali yabo esesigxina (inxalenye engcono? ukuba i-80% yentlawulo iya kubuyiselwa kubanikazi ngamnye ngonyaka ngendlela yokuhlawula imali kunye nokuthengwa kwamashishini kunye nokukwazi kwabo ukugcina enye yeyona ndlela efanelekileyo yokusebenza kakuhle kwishishini (umlinganiselo obalulekileyo weebhanki - kubalwa ngokujonga kwi-non- indleko yemali njengepesenti yemali engenayo) ibonisa ukuba bayayiqonda ngokwenene bayasebenza kubanini-zimpahla. Thelekisa loo nto kwiNgqobhoko yeBhanki enguMongami eyayiphezu kwiphepha le- Wall Street Journal kwiminyaka edlulileyo emva kokuba iBhodi yabaLawuli kunye nabaphathi bazama ukusebenzisa i- New York Stock Exchange imigaqo ukuze ivume ukuba idibene kunye nenye inkampani ngaphandle kokunika abanini-matyala ithuba lokuvota ngokuhlanganiswa.
Bekani ingqalelo kwizinto ezinjalo. Izenzo sithetha ngaphezulu kunamazwi. Ukufumana ulwazi oluthe vetshe, funda iisayina ze-Management Associate Management
UkuTyala inqaku # 8: Unamathela kwiimali kwi-"Circle of Competence" yakho.
Ukutyalo-mali, njengokuba ebomini, impumelelo yinto eninzi malunga nokuphepha iimpazamo njengoko kuyenza malunga nokwenza izigqibo ezinengqiqo. Ukuba usosayensi osebenza kwi-Pfizer, uza kuba nenzuzo enamandla kakhulu yokuncintisana ekunqumeni ukutsalana okukodwa kwamasheya okuxuba imveliso xa kuthelekiswa nomntu osebenza kwicandelo leoli. Ngokufanayo, umntu kwicandelo lesoyile uza kuba nethuba elikhulu kunakho ekuqondeni i-oil majors ngaphezu kwakho.
UPeter Lynch wayengumcebisi omkhulu "utyalomali kwizinto owaziyo" ifilosofi. Enyanisweni, ezininzi iimali zakhe eziphumelele kakhulu zibangelwa ukulandela umfazi wakhe kunye nabantwana abaselula abasendleleni yokuthenga okanye ukuqhuba idolophu ngokutya iDunkin 'Donuts. Kukho ibali eliqingqileyo kwiindleko zokudala utyalo-mali esikolweni malunga nendoda eyaba yingcali kwiinkampani zamanzi zaseMerika ukuba wayazi ngokwenene inzuzo ebhodini egcwele amanzi okuhlamba okanye indlu yangasese ehamba kuyo, ukwakha i-fortune ngokuthengisa isitokisi esithile .
Omnye ummangalo: Ufanele uthembeke kuwe. Ngenxa yokuba usebenze i-counter kwi-Chicken Mary njengomntwana osemncinci akuthethi ukuba uya kuzuza ngokuzenzekelayo xa uhlalutya inkampani yenkukhu njengeTyson Chicken. Uvavanyo olulungileyo kukuzibuza ukuba uyakwazi okwaneleyo malunga nesibonelelo esinikeziweyo ukuba uthathe ishishini kwintsimi kwaye uphumelele. Ukuba impendulo ngu "ewe", unokufumana i-niche yakho. Ukuba akunjalo, qhubeka ufunda.
UkuTyala inqaku # 9: Ukwahlukana, ngokukodwa ukuba awukwazi oko uyenzayo!
Ngamazwi omdumi owaziwayo uJohan Maynard Keynes, ukungafani kwintengiso yomshuwalense ngokungazi. Wayekholelwa ukuba umngcipheko ngokwenene ungancitshiswa ngokubamba utyalo-mali obuthile kunye nokuziqonda kakuhle. Ngokuqinisekileyo, le ndoda yayingenye yeengcinga zezimali ezintle kakhulu kwiinkulungwane ezidlulileyo kangangokuba ifilosofi ayiyona nkqubo ecacileyo kubatyali-mali abaninzi, ingakumbi ukuba abanako ukuhlalutya iingxelo zemali okanye abazi umahluko phakathi kweDow Jones Industrial Umyinge kunye neDodo.
Le mihla, ukusahlukana kweentlobo ezihlukeneyo kunokufumaneka kwiqhezu leendleko zento enokwenzeka nangona emashumi embalwa edlulileyo. Ngeengxelo zenkcazo, iimali ezihlangeneyo , kunye neenkqubo zokubuyisela i-dividend , iindleko zoxhatshazo zokuba neengxenye kumakhulu eenkampani ezahlukeneyo ziye zapheliswa okanye, ubuncinci, bancitshiswa kakhulu. Oku kunokukunceda ukukhusela ukulahlekelwa ngonaphakade ngokusasaza iifayili zakho ngaphandle kweenkampani ezaneleyo ukuba ukuba omnye okanye nokuba ayingcosana kubo ahambe ngesisu, awuyi kuphazamiseka. Enyanisweni, ngenxa yesiganeko saziwa ngokuba yimathematika yeentlobo ezahlukeneyo, kuya kubangela ukuba kubekho ukuhlaziywa okuphezulu okuqulunqileyo kwisiseko esitshintshiselwe ingozi .
Enye into ofuna ukuyibukela ilungelelaniso. Ngokukodwa, ufuna ukukhangela ingozi engahambelaniyo ukwenzela ukuba izibambiso zakho zihlale zihlawulelana kunye nokujikeleza kwezoqoqosho nezoshishino. Xa ndiqala kuqala ukubhala kule ngqungquthela malunga neshumi elinesihlanu leminyaka edluleyo, ndacetyisa ukuba kwakungekho ngokwaneleyo ukuba neengqolowa ezingamashumi amathathu ezihlukeneyo ukuba isiqingatha sazo sasiyiBhanki yaseMelika, i-JP Morgan Chase, i-Wells Fargo, i-US Bank, iFifth Third Bancorp , kunye nokunye, kuba unokuba neengxenye ezininzi zezabelo kwiinkampani ezininzi ezahlukeneyo kodwa awuzange udibaniswe; ukuba "ukutshitshiswa ngokuchanekileyo okunjengokungaphumeleli kwemalimboleko yezindlu zangasese kungathumela ama-shockwaves ngokusebenzisa inkqubo yebhanki, ngokukhawuleza ukuphazamisa zonke izikhundla zakho", ngokuchanekileyo okwenzeka ngexesha lokubola kwe-2007-2009. Ngokuqinisekileyo, iifemu ezinamandla ezifana ne-US Bancorp kunye ne-Wells Fargo neNkampani zenza kakuhle ngaphandle kwexesha xa bebenqatshelwe ama-80% kwiphepha le-peak-to-pit, ngokukodwa xa uye wabuya wahlawulela izabelo zakho kwaye idola libiza ixabiso lentengo kubo; isikhumbuzo sokuba kudla ukubhekisele phambili kumandla okuqala nokuphambili. Uqoqosho lwezentlalo, ngakolunye uhlangothi, luye lwabonisa ukuba abaninzi abantu abakwaziyo ukugxininisa kwi-shishini eliphantsi, kunokuba bathuthumele kwaye bahlalutye ngexesha elincinane.
UkuTyala inqaku # 10: Yazi iMali yezeMali kuba iyakusindisa i-Pain of Pain
Kuthiwayo ukuba imarike yenkomo ifana nothando. Xa ulapho, awucingi ukuba kukho into efana nayo ngaphambili. I-Billionaire Bill Gross, ebonwa yiyona ndlela kwisitrato ukuba ibe ngumtsalane-mali osisigxina kakhulu kwihlabathi, uthe ukuba unokufumana incwadi enye yeencwadi zokufundisa abatsha-mali abatsha, kuya kuba yincwadi yembali yezemali, ingabi ingxelo okanye ulawulo ngcamango.
Cinga kwakhona kwi-Bubble Sea yaseMzantsi South, i-Roaring 20's, iikhomputha kuma-1960 kunye ne-intanethi kuma-1990. Kukho incwadi ephawulekayo ebizwa ngokuba yiManas, i-Panics, kunye neNtshontsho: Imbali yeengxaki zemali endikucebisa kakhulu. Ukuba abatyala-mali abaninzi beyifunde, akungabazeki ukuba baninzi abaye balahlekelwa inxalenye enkulu yenzuzo yabo kwinkunkuma ye-dot-com okanye ukuwa kwezindlu.
Njengoko uSayayana wathi, "Abo bangayazi imbali baya kulahlwa ukuba baphinde baphinde". Andizange ndibe bhetele.
I-Tip # 11: Ngaphandle kokuba ufuna i-Income Income, Phinda uhlawule izidibaniso zakho
Ingaba okanye awuyi kubuyiselwa kwakhona izabelo zakho ngenye yeempembelelo ezinkulu kakhulu ngobukhulu bepottoliyo yakho. Kuninzi kangangokuba ndandiziva kuyimfuneko yokwandisa le nto ibe yinqaku yalo yedwa omele uyifunde, usebenzisa i-Coca-Cola Inkampani njengomzekeliso .
I-Tip # 12: Ibhizinisi Elikhulu AyingeNtengiso enkulu kwixabiso elingalunganga okanye iMigomo engalunganga
Sichitha ixesha elide sithetha ngeempawu ezahlukeneyo zoshishino- ukubuyisela okuphezulu kwi-equity , inkokhelo encinci okanye akukho matyala, ukubaluleka kwe-franchise , ulawulo lomnini - nxaxheba onobulungisa , njl. Nangona u-dictum u-Charlie Munger, "kungcono ukuthenga ishishini elifanelekileyo ngentengo efanelekileyo kunokuba ibhizinisi elincinci lixabiso "liyinyaniso, kubalulekile ukuba uqaphele ukuba iziphumo ezilungileyo akunakwenzeka ukuba zithengwa ngabathengi beempahla ezinjalo ngaphandle kwexabiso. Ukwahlukileyo okulungileyo, kodwa enye ithetha ukuba umehluko phakathi kweziphumo ezihle kunye nelahleko ezimbi. Ubuncinane, kungekufutshane kwithuba elifutshane.
Emuva ekupheleni kwawo-1960, iWall Street yaba neqela leempahla ezibizwa ngokuba yiNifty Fifty . Mhlawumbi i-encyclopedia ye-intanethi i-Wikipedia ithi iyona nto ihamba phambili, "[Ezi zigcina] zenza konke okuza kubakho-amagama e-brand, ilungelo lobunikazi, ulawulo oluphezulu, ukuthengisa ngokumangalisayo, kunye neenzuzo ezizinzile. ixesha elide, kwaye oko kwakufuneka uyenze.
Lawa ngamaphupha esitokisi 'ayenziwe ... ngenxa yokukhawuleza ukuhlala phantsi. "
Nalu uluhlu lwezo zifuyo. Mhlawumbi uyazibona ezininzi zazo.
- American Express
- Imveliso yasekhaya yaseMelika
- AMP
- Anheuser-Busch
- Imveliso yeAvon
- Iibhanki zeBhaxter
- Black & Decker
- Bristol-Myers
- Ukuhamba
- Isibhedlele saseMelika saseNkxaso.
- Chesebrough-Amanzi
- Inkampani yeCoca-Cola
- Corporation Digital Equipment Corporation
- Dow Chemical
- Eastman Kodak
- Eli Lilly kunye neNkampani
- Emery Air Freight
- IBhanki yeSizwe yeBhanki yokuqala
- Jikelele uMbane
- Gillette
- Halliburton
- Heublein Brewing Inkampani
- IBM
- I-Flavour International kunye neFragrance
- Ifowuni yamazwe ngamazwe kunye neTelegraph
- JC Penney
- Johnson & Johnson
- I-Louisiana yaseKhaya kunye nokuHlola
- Lubrizol
- EMinnesota iMining and Manufacturing (3M)
- McDonald's
- Merck & Co.
- MGIC Investment Corporation
- PepsiCo
- Pfizer
- UFilipu Morris Cos.
- Polaroid
- Procter & Gamble
- Revlon
- Schering Plow
- UJoe Schlitz Ukukhwela
- Schlumberger
- Sears Roebuck & Co.
- Iifayile ezilula
- Squibb
- SS Kresge
- Texas Instruments
- Upjohn
- Inkampani yeWalt Disney
- Xerox
Iphutha elibulalayo kule ngcamango kukuba abatyali-zimali bakholelwa ukuba ezi nkampani - amashishini afana ne-Eastman Kodak kunye ne-Xerox-ayenobungqina obuhle ukuba bakwazi (kwaye kwaye) kufuneka bathengwe nganoma yiyiphi intengo . Kakade, oku akunjalo nje. Nangona ukuthengiswa kwesitokhwe kwi- p / e ephakamileyo ephezulu akusiyo yonke indawo , ngokuphindaphindiweyo kuninzi, ukuthengiswa kwe-stock kwi- value-to-earnings ratio ye-60x cishe kuya kuvelisa izinga lokubuyisela ngaphantsi kwelo okuthiwa "ingozi engenazo ingozi". Ukuze ufunde kabanzi malunga nesi sihloko, funda Iintlawulo ezizaliswayo ngokubhekiselele kwi-Treasury Bond Ivelisa njengeStatski yeSitatimende seValuation and How to Tell When A Stock Is Overweight .
Yintoni eyenza le ngxoxo ibe nzima, kwaye ngaphaya kweloluhlu lweengcebiso zokutyalomali, ngu:
- Abaninzi abanotyalomali abanalo ulwazi abanakukwazi ukuba, nangona iinkampani ezinjenge-Eastman Kodak ziye zaphazamiseka, abatyali-mali bexesha elide bebefanele bahambe kunye nobutyebi obuninzi kunokuba bebenakho ngaphambi kokuba batyalole. Oku kunzima ukuyiqonda ukuba awukwazi ukuba izahlulelo, ukuhlawulelwa , ukuhlukana, kunye neentlawulo zokulahlekelwa kweerhafu zisebenza kodwa kunjalo, kunjalo.
- Kwiminyaka engama-20 ukuya kwe-30 emva kokuba i-Nifty Fifty ifikelele, ibhasikidi yamasheya, ngokubanzi, yenze i-market. Nangona kunjalo, ngeli xesha uqale ukufikelela kwi-30 ukuya kwe-40 yobubanzi bonyaka, amaqumrhu aphantsi koko, enyanisweni, ekugqibeleni aphelile ukubetha iimarike njengoko iinjongo zezoqoqosho eziphambili ziphezulu kakhulu zatshisa ukuxabisa ngokweqile. Akunjalo kuphela, kodwa i-Nifty Fifty yayiza kusebenza kakuhle kwerhafu yenkcazo. Xa sisebenzisana namashishini afanelekileyo, ukuhamba kwinqanawa yokufa, ngokudlulileyo, kuye kwadlula ixesha elide kodwa bangaphi abatyali-mali abazimisele ukunamathela kwiminyaka engama-30 okanye engama-40 ekufuphi kwintsikelelo ebusweni bonke, kangangokuba abantu abaninzi baya kuhlala kuphela 80 iminyaka okanye kunjalo? Kwakhona, kuyinkxalabo yezoqoqosho zokuziphatha.
Konke okulinganayo, nangona kunjalo, zama ukuphepha utyalo-mali oluthengiweyo ukuze ungagqibekanga ngaphandle komda wokhuseleko ngenxa yokuba ibhawthi yokwenza umsebenzi ingabangela ixesha elide, ukulahleka kwintlekele kwinqununu njengabaqapheli ababalekayo basabela kwiimfucuza ezishisayo. Nangona kunjalo, ukuba uya kuwuqwalasela, gcina kuphela kwi- chips ebluhlaza . Unokuthi ubalekele ngokugqithisa imali kwinkampani efana noJohnson & Johnson ukuba uya kubamba iminyaka engama-50 ezayo - akukho mntu uyaziyo ikusasa kodwa iimpawu ezibonakalayo ziyakuthandeka - kanti andinakukuthanda kakhulu ukwenza ukuba iqine njenge-Facebook.
I-Tip # 13: Ukuya kwiiNkcazo zeNdleko eziNcinci okanye into ekhuthaza ukunyusa
Iimali ze-Index ziyi-godsend kubalimi abancinci ngaphandle kwemali eninzi okanye kwiibhanki eziphantsi. Nangona kubekho iingozi ezakhiweyo kuzo kunye neenguqu zendlela ezithintele abatyalo-mali imali eninzi, zivumela abantu kunye neentsapho ukuba bangabi nantoni-mali ukuze bafumane ulwahlulo olusasazekayo ngaphandle kweendleko. Ukuba uboshwe kwi-401 exhaswe yinkampani (k), ukuhamba ngeenkcukacha eziphantsi kweendleko zenkcitho ephantsi kuza kuba yinto ekhethileyo. Zingaba luncedo kwezinye iimeko. Ngokomzekelo, ukuba ufunda ibhulo yam yam, unokwazi ukuba ndisebenzisa iincwadana zenkcazo yentsapho yentsapho yokusizisela, efihliweyo ngaphakathi kweNgcebiso ngeNgcebiso yeNgcebiso ukuze ndikwazi ukuphepha iingcaciso ezi-990 eza kufuneka ukuba iziko elizimeleyo.
Kungenxa yezi zizathu ndibeke indumiso enkulu kwiimali zenkcazo kwiminyaka. Nangona kunjalo, imali yenkcazo ayifanelekanga. Kude kuyo. Ngokomzekelo, nangona kukho imibhikankaso yabantu kwishishini lolawulo lweempahla eziye zatyebile kakhulu ukususela ngaloo ndlela, iifom zenkcazo zihlobo lwe-extraasitic extraction ephuma kuluntu ngoxa abafuni ukunikezelwa ngokukhawuleza kwemali kwiiphelo ezivelisayo kodwa kunoko, i-piggyback umsebenzi wabanye. Kulo mbono, kufuneka basebenze ngokude njengoko abantu abaninzi bengayilungisi. Ngakolunye uhlangothi, ukuba iimeko ezikhoyo ziqhubeka kunye nokuhlaziya kuthatha izabelo ezinkulu kunye ezinkulu kwi-pool yonke ye-asethi, kunokufika umhla xa imali ephuma kwiingxelo zenkxaso-mali ingabangela ukunqanyulwa okukhulu phakathi kokubaluleka kwangaphakathi kwamafenethi abanjwe isalathisi kunye neendleko zemarike zala mafama. Kuphela nje ngumsebenzi wezibalo.
Iimali zenkcazo nazo zithathe inhlobo ekhethekileyo yonqulo lwezenkolo kwiindawo ezithile, ngokungafaniyo nokholo oluyimfama abaninzi abanamava abaye bawabona bevela kwiimveliso zentengiso zangaphambili. Aba bantu abayiqondi ukuba imali yenkcazo yindlela nje yokusebenzisa amathuba amaninzi aqhuba ukukhokelela kwiziphumo ezilungileyo: ukuhlawula okuphantsi, ukulungiswa kwentela kunye neendleko eziphantsi. Kubatyalomali abatyebi, phantse kuzo zonke iziganeko zeemeko xa uqala ukujonga ixesha elilinganiselwe ixesha elidlulileyo kwiminyaka emininzi, mhlawumbi unokuphelisa ubuncwane obuninzi emva kokuhlawula irhafu, kunoko, uthenge igalelo ezingezantsi zoluhlu ngqo kwi- akhawunti yakho yokugcinwa kwehlabathi , ulinganise ngokulinganayo, kwaye uhlawule ulawulo lwe-asethi 0.50% ukuya ku-0.75% ukuyilawula, ukunyamekela zonke iinkcukacha. Kukho izizathu ezininzi zezi zinto kuquka ukukwazi ukuba umphathi we-asethi ukuba angene kwiindlela zokuvuna irhafu ukuba kufuneka uqokelele imali kwaye uxoxisane kunye neentengiso zamahhala okanye amashishini athengisiweyo kwi-akhawunti yakho. Ndiya kude ndithi, iimeko ezingekhoyo ezinqabileyo, zibonakaliswa zingenangqiqo kwiinkcazo ezihlanganisiweyo ezifana neengxowa-mali kunye nemali yokuthengiselana ngemali xa uwela i-$ 500,000 uphawu njengoko unokukwazi ukufezekisa ngokukhawuleza injongo enye mhlawumbi iziphumo ezingcono zineziqulatho zenkcazo ngqo.
Ngokuthelekiswayo, iimali zenkcazo ziyisisombululo esilungileyo kwabanye abatyalo-mali abanesidingo esikhethekileyo. Ukuba ungumhlolokazi, tshilela i-$ 250,000 kwimpahla, unokufuna ukwahlula iphothifoliyo yakho 50% kwiibhanki zikamasipala ezingenasiphoso kunye ne-50% kwi-chip chip ezinobuninzi obuninzi-ngaphezu kwe-yield dividends yields. Imali engenayo eyongezelelekileyo inomsebenzi ngakumbi kuwe (ingakumbi ukuba kuqhutywe i-market market crash) kunezinga elithile eliphezulu lokuqulunqa unokufumana kwi-index-capital index index, ngokukodwa kwimeko yokuphila kwakho ecetywayo ukuba sele sele usondele umhlalaphantsi. Ngamanye amazwi, amava akho aphilayo angaphumelela nangona ibeka ingozi kwi-market. Iimathematika kuzo zonke ezi zinto zicacile ngokukrakra kodwa ngoku kukho konke ukuthengiswa kwezinto ezixhasayo, ezixhaswa zizigidigidi kwiimpahla phantsi kolawulo, zikhuthazwa ngendlela echanekileyo yokugxila kwizinto ezibonakalayo kwezoqoqosho okanye idatha yezemfundo, kodwa oko kukhulisa ubukhosi abo bazuza kulolu hlobo lokunciphisa ukunyusa.
Ukugqithisa le nto ingakumbi kukuba abantu abanjengami abanqweneli ngokukodwa ngokubhekisele oku ngokuqhelekileyo (jonga umlinganiselo wamanqaku endibhaliweyo ochanekileyo ngokuchanekileyo xa kuthelekiswa nezinto ezinje oku) kuba kukho ingozi yangempela yokuba abatyali-mali abangenakukwazi ukufumana iimpazamo ngaphandle kwazo - ngubani na ogqwesileyo onikwe i-index index-cost cost - ngandlela-thile bacinga ukuba bahlukile xa bengekho. Ukhangele inkampani efana neVanguard, into ehle kakhulu kwiindawo ezininzi, kwaye ibone ukuba ixabiso le-akhawunti yomhlala-phantsi yomhlalaphantsi (isigamu sabanikazi be-akhawunti sincinci, isiqingatha sininzi) yayiyi-$ 29,603 ngo-2014, i-$ 31,396 ngo-2013 kunye ne-$ 23,140 2009. Nangona loo nto ibonisa imali yangempela abanikazi abafanele babe nekratshi, ngokwebakala lobukhulu beeakhawunti, iiitatata ezincinane. Abantu abanjalo abakwazanga ukufumana ibhanki yangasese okanye umphathi weefayili ukuba bajonge nabo, bangazicongi nje kwaye banokuzithenga iziqinisekiso zabo ngabanye, mhlawumbi baya kukwenza ngokungafanelekileyo. I-Vanguard yenza loo nto inomdla, bafanele bathumele iikhosi zeenkrisimesi ezinokuzibonga ngokusuka enhliziyweni. Ukuze uqale ukuqwalasela ezinye iindlela ezingcono, nokuba unqwenela ukulandelela inkcazo, ungadinga ubuncinane ubuncinane be-10x, 20x, okanye i-50x loo mali.
Ngo-2015, akukho ngaphantsi kwegunya kunomgcini-malikazi uCharlie Munger oqale ukuxwayisa malunga neengozi zeengxowa-mali zeengxowa-mali ezibangelwa yiyo, ebhenxisa izilumkiso zakhe zangaphambili malunga nezibophelelo zetyala ngaphambi kokugqitywa kwe-2007-2009, eyayihlekisiwe kakhulu kwada kwaphela. Iimarike ezinkulu zifikelela kwinqanaba elingaphaya kwe-$ 1 kwii-$ 5 zonke ngoku lifakwe kwingxowa-mali yenkcazo, unabantu abambalwa kwiikomiti nakumaziko aphethe amandla phezu kweeminyaka ezigidi zabantu. okanye isigaba esiphakathi njengoko izityebi zithintela ukukhupha izakhiwo ezihlanganisiweyo ngokuthelekiswa namanye amaqela ngenxa yezizathu ezichazwe. Akuyi kuphelisa kakuhle. Kubi kuluntu. Kubi kumashishini. Kuza kuza iphuzu xa iinkukhu ziza ekhaya ziza.
Nangona kunjalo, ndiya kuphinda ndiyathetha ngamakhulu amaxesha kwixesha elidlulileyo: Ukuba ungeyityebi okanye ucebile, ukucacisa mhlawumbi kubhetele ngakumbi ukuba ufuna ukulula-mali, ngokuthe ngqo, ngokukodwa, ukutshala imali. Musa nje ukusela isalathiso se-Kool-Aid njengoko baninzi abanye abakwenzileyo. Qaphela ingozi kwizinto ozenzayo kwaye wazi ukuba kukho ingozi nangona yonke into ekuxelela yona iya kuqinisekiswa. Yiba neengqondo ngokukhawuleza ukwazi ukunyaniseka, nangona kungenakumnandi.