KuyiNkohlakalo yokugxila kwixabiso leSitoreli kuphela kuba ixabiso liyintoni na
Ukuba uvumelana nale ngqiqo, utyhafile. Inyaniso kukuba, unalo ulwazi olwaneleyo lokufumanisa ukuba yeyiphi isitokethi ekufuneka kuthengwe ngokusekelwe kwixabiso lentengo yedwa. Unokufumana, emva kokuhlalutya ngokucophelela, isitoreji se-$ 125 sithengwa ngaphezu kwe-$ 10! Njani? Masiqwalasele ngakumbi.
Ixabiso lentengo kunye ne-Stock Splits-I-Coca-Cola Isibonelo
Zonke izabelo zesitokethi kwipotfoliyo yakho zimela ubunini bebhankinini kwishishini. Ngo-2001, iCoca-Cola yafumana i-3.696 yezigidigidi zamaRandi ngenzuzo . Isiqu esinxilisayo sesiphuzo sasinee-2.5 billion share shares. Kuthetha ukuba nganye yezo zabelo zimela ubunini be-1 / 2,500,000,000 yezoshishino (okanye 0.0000000004%) kwaye ikuvumela ukuba ube yi-$ 1.48 yeenzuzo ($ 3.696 inzuzo eyabelwe i-2.5 billion share = $ 1.48 ngesabelo ngasinye).
Kucinga ukuba i- stock market ye- stock 50 kwi-share share kunye neBhodi yabalawuli beCoca-Cola bacinga ukuba ixabiso elincinci kakhulu kumali-mali.
Ngenxa yoko, bashumayela isahlulo sempahla . Ukuba u-Coke wamemezela isahlulo se-2-1, inkampani iya kuphinda iphindwe kabini inani lezabelo ezikhoyo (kule meko inani lezabelo liza kunyuka ukuya kwi-5 billion ukuya kwi-2.5 billion). Inkampani iya kukhupha isabelo esinye isabelo ngasinye kwisityalo-mali esele sinazo, sinciphise ixabiso lentengo kwisigamu (umz., Ukuba unayo izabelo eziyi-100 kwi-portfolio yakho ngoMsombuluko, emva kokuqhekeka, uza kuba neengxenye ezingama-200 kwi $ 25 nganye).
Izabelo nganye ngoku zixabise i-1 / 5,000,000,000 yenkampani, okanye i-0.0000000002%. Ngenxa yokuba isabelo ngasinye ngoku sichaza isiqingatha sobunikazi esenzileyo ngaphambi kokuhlukaniswa, sinelungelo kuphela kwisiqingatha seenzuzo, okanye i $ 0.74.
Umtyalo-mali kufuneka azibuze ukuba ngubani ohlawula imali engama-$ 50 kwi $ 1.48 kwimbuyekezo, okanye ukuhlawula i-$ 25 nge $ 0.74 kwimvuzo? Akunjalo! Ekugqibeleni, utyalomali uvela ngokufanayo. Ukuthengiselana kuyafana nendoda ene-bill ye-$ 100 ecela i $ 50. Nangona ngoku ibonakala ngathi unemali emininzi, ukunyaniseka kwezoqoqosho akuzange kutshintshe. Kufuneka, ngokuqinisekileyo, kufuneka kungabonakali ukuba ulinde isitokisi ngaphambi kokuba uthenge amasheya enkampani.
Yabelana ngexabiso ngokumalunga nexabiso
Yonke inceda ukwenza iphuzu elibaluleke kakhulu: intengo yesabelo ngokwawo ayithethi nto. Ixabiso lentengo ngokumalunga nemali engenayo kunye ne- asethi esebenzayo ecacisa ukuba isitokisi siphelile okanye singabalulekanga.
Ukubuyela kumbuzo owawubuzayo ekuqaleni kwesi nqaku, cinga oku kulandelayo:
- Inkampani ye-ABC ithengisa kwi-10 yeesabelo ngasinye kunye ne- EPS ye-0.11.
- I-XYZ Inkampani ithengisa i-$ 125 ngesabelo ngasinye kwaye i-EPS ye-$ 35.
Isitokhwe se-ABC sithengisa ngexabiso lokufumana isilinganiso somvuzo (p / e ratio) sama-67 (i-10 yeesahlulo ngasinye isahlulo se-EPS = 66.67).
Isitokisiso se-XYZ, ngakwelinye icala, sithengisa kwi-ap / e ye-3.57 (i-125 yeesabelo ngasinye isahlulo se-35 se-EPS = 3.57 p / e).
Ngamanye amazwi, uhlawula i-$ 66.67 kwi-$ 1 nganye kwiimali ezivela kwi-ABC nkampani, ngelixa inkampani i-XYZ ikunika i-$ 1 efanayo kwimali yokufumana i-$ 3.57 kuphela. Zonke ezinye zilingana, amaninzi aphezulu akafanelekanga ngaphandle kokuba inkampani ye-ABC ikhula ngokukhawuleza.
Ezinye iinkampani zinomgaqo-nkqubo wokungaze udibanise izabelo zawo, unike ixabiso lentengo kubonakala kokugqithisileyo kunabalimi abanolwazi. I-Washington Post, umzekelo, isandul 'ukuthengisa phakathi kweedola ezingama-500 kunye needola 700 ngesabelo ngasinye kunye ne-EPS engaphezulu kweedola ezingama-22. I-Berkshire Hathaway iye yathengisa imali engama-70,000 ngeesabelo ngasinye nge-EPS engaphezu kwama-2,000. Ngenxa yoko, iBerkshire Hathaway , ukuba iya ku-$ 45,000 isabelo ngasinye, ingaba yithenga ngakumbi kuneWal-Mart kwi-70 yeesabelo ngasinye.
Isabelo sokwabelana sinxulumene ngokupheleleyo.