Ixabiso lokuTyala libandakanya ukujonga iingozi kunye namathuba
Oku kulandelayo kuthethwa nje ngomzekelo wendlela umlinganiselo-mali onokucinga ngayo; asenzi namangalo okanye iinconywa zokuthenga okanye ukuthengisa nayiphi na isitokethi okanye ukhuseleko okanye ulwazi oluluncedo lube luchanekile ngexesha elibona le nqaku. Kwakhona, makandixelele ukuba ndihloniphe kakhulu kubaxhasi beGoogle, uSergey Brin, kunye noLarry Page. Ngokuqinisekileyo baye baphucula ihlabathi kwaye badala ishishini elenza ukuba amabhizinisi amaninzi akhiphe imali engenayo kwiwebhu, akhulise i-GDP yesizwe kwaye mhlawumbi yandisa imigangatho yokuphila. Eli gqabaza alithandani, kodwa kunoko ubuninzi obungabonakali be-Wall Street abaqapheli abajolise ekugxininiseni kunokuba basisiseko.
Berkshire Hathaway vs Google: Inombolo
ULarry Page noSergei Brin, abasunguli beGoogle, bangabalandeli beBerkshire Hathaway. Njengomsebenzi olula, thelekisa iifemu ezimbini. Ngokumalunga neemali zentengo yemarike (ixabiso eliza kuthatha ukuthenga zonke izabelo zesitokisi esasisemgangathweni senkampani kwixabiso lexabiso langoku), yintoni na utyalo-mali ngamnye kwiqumrhu lakhe elifumana imali yakhe?
NgoBerkshire Hathaway , uthengisa ishishini elincinci okanye elingahlawulwanga ngetyala (ngokwemveli yendabuko; ii-inshorensi ezigcinwe ziiimfanelo zangempela kodwa inani elilinganayo lamanani enkcazo echazwe ngolu hlobo yilezi zibonelelo ezingenagunyaziswa ngumzali onxulumene inkampani, oku kuthetha ukuba ngaphantsi kweemeko zingabanjwa zibopheleleko kwezo mali kodwa ngenxa yemida ye-GAAP kufuneka zibalise), i-477 billion yeebhilikhwe ekutsalweni kwamashishini afana ne-Wells Fargo, iCoca-Cola, i- Wal-Mart neWashington Iposi, i-$ 45 yeebhiliyoni ngokwemali, kunye ne-8.5 yezigidigidi zezimali ezifumanekayo .
Mhlawumbi, okubaluleke kakhulu, ingeniso ivela kwimisebenzi engaphezulu kwe-96 eyahlukileyo engaqhelekanga. Oku kuthetha ukuba iqela le-inshorensi lijongene nokulahlekelwa yintlekele ngenxa yokuzamazama komhlaba kwe-9.0 eCalifornia okanye kwiphango elininzi eNew York, iinkampani zamehlo kunye namashishini efenitshala ziya kuqhuba iilori kunye nokwenza imali.
Nge-Google, ngakolunye uhlangothi, uhlawula phantse ixabiso elifanayo kwi-shishini lonke kodwa ufumana inkampani eyenza i-$ 1.5 billion engeniso, engenayo inkolelo encinane okanye ayikho na i-$ 9 billion ngekheshi. Uninzi malunga nalo, malunga nayo yonke ingeniso yalo ivela kumthombo omnye-ohlawulelweyo wophando.
Kutheni i-market ithengisa ukulinganisela okuphezulu kwi-intanethi eqinile kwaye ixabiso leBerkshire lilinge ngakumbi? Ukukhula kweGoogle akukufutshane nokuqhuma. Nangona kunjalo, phantse amaxesha angama-63 ngokufumana umvuzo - ukulinganiswa kwe- p / e , ukuba uqiniseke-nokuba ngaba iqumrhu liza kukhula inzuzo yalo kwizinga leBerkshire - i-$ 8.5 yezigidigidi - bekuza kusenako ixabiso lempahla kunye neemali zokuthengisa ezithengiswayo indlu ukuba iWarren Buffett eyakhelweyo, kwaye ayiyi kuba nemingcipheko engenayo eyahlukeneyo , eyenza ibe yingozi kakhulu kwiinguqu kwiindawo ezikhuphisanayo; inkxalabo enkulu xa ucinga ukuba i-Google isebenza kwishishini apho ukutshintsha okuphawulekayo ukuziphatha kubathengi kubakho ubusuku.
Ekugqibeleni ukukhula kwaqala ukukhawuleza, ininzi iya kuba nekhontrakthi, ithetha ukuba nangona i-earnings yayo ikhula 600% kwiminyaka embalwa ezayo, ukuba iya kuba phantsi komthetho wamanani amaninzi-ayenayo imali ekhulayo ekugqibeleni yakha i-anchor yayo - isiphumo siya kuba semali yeemarike ngokufanayo nanamhlanje, ekhokelela ekunyuseni kwintengo yempahla kwixesha elide.
Kukhangeleka Ukuba Ukhohlise
Ngamanye amazwi, iBerkshire Hathaway kwi-$ 98,500 isabelo ngasinye sinokubonakala sithengile kwaye iphephile kuneGoogle kwi-420 nganye ngesabelo. Yintoni abantu abayithemba ngayo ixabiso elifutshane lexabiso elifutshane - kuba akukho nto igxininisa isitokisi esiphezulu sokufumana ngaphezulu ngaphezulu, ukucacisa uBenjamin Graham. Uhlobo oluphambili kukuba umnini-mali waseBerkshire Hathaway unokuvakalelwa ngathi wayeba ngumnikazi wenkampani kwishishini esigxina eqinisekisiwe ukuba ihlanganiswe ngentlawulo ehloniphekileyo kwiminyaka emashumi ezayo kodwa umnini weGoogle ubhekane neyona nto inokwenzeka yemali enobungozi ukulahlekelwa okanye ukulahlekelwa kwemali xa kufuneka ididekile ngokuguqula izinga lokukhula elingaphantsi kunokuba kulindeleke.
Ngokomntu, andizange ndiqondisise abantu abaye bangena kule shishini ngenxa yoluvuyo-fumana ukukhaba kwenu kwiipaki okanye kumidlalo; Injongo yokutyalo-mali kufuneka kube yimivuzo eqinisekisiwe yokubuyisela ngokubanzi ngaphezu kwezinga lakho lokunciphisa.
Isibuyekezo kwiGoogle kunye neBerkshire Hathaway, iminyaka emashumi anesihlanu kamva
I-Berkshire Hathaway kunye nohlengahlengiso oluthile lwamanqaku athile kwi-akhawunti yemisebenzi ethile evela kwizixhobo ezivela kumntla we-20 billion yeebhiliyoni emva kwentlawulo yerhafu emva konyaka. Ngaphezulu koku, ivelisa izigidigidi zeedola ngokungezelelwe "ukujonga ngempumelelo" engabonakaliyo, njengoko kukhankanywe ngaphambili, ngenxa yobume be-GAAP. Unomthamo ongu-$ 250 billion. Ixhaphake ngokubanzi kuwo wonke amashishini afungelweyo, ngokuyininzi ikhuselekile kwiintlobo zeenguqu zeteknoloji ezingashenxisa iGoogle kwimephu ngenxa yokuba inzuzo ivela ekuthengiseni izinto ezifana ne ketchup, ubucwebe, i-inshurensi, ifenitshala, iinkonzo zendlela yokuthutha umzila, kunye nokunye ( nangona ulawulo luhlakaniphile ngokwaneleyo ukuqonda oko ukwenzela ukuba iteknoloji yenze ityalo-mali kuyo yonke into esuka kwizonyango ukuya kwiinkampani zamandla). Abatyalomali baxabisa iBerkshire Hathaway kwi $ 341 zeebhiliyoni.
I-Google, okanye iAlfabhethi njengoko ngoku ichongiwe ngenxa yokuguqula isakhiwo sayo sokubambisa iBerkshire Hathaway ngokunyuka kwayo ibe ngamanye amashishini ukunciphisa ukuxhomekeka kwayo kwinjini yokukhangela eyona nto, enokutshatyalaliswa yinkwenkwe kwigaraji phantsi kwecandelo elingalunganga imeko, ivelisa emva kwentlawulo yerhafu ye-14,4 yezigidigidi kunye nexabiso elingaba ngu-R121 billion. Abatyalomali bayayixabisa kwi $ 505 billion.
Ukugqithiswa kwe-ratio ye-p / e kulungiswe ngo-2008-2009 ukuphahlazeka xa ixabiso le-stock yeGoogle elahlekile kakhulu lixabisa ininzi yeengeniso ezenziwe kwi-IPO. Nangona kunjalo, ithemba libuyele kwaye abatyali-mali baye baphinda bawubhalela ukuya kwi-ap / e ingqiqo engacacanga ngakumbi, ngokukodwa ngokuphambene ne-Apple. I-Apple ifumana imali engaphezu kweeyure ezingama-39.5 zamaRandi emva kwentlawulo kwaye inexabiso elilinganiselwa kumaRandi ayizigidi ezili-112. Abatyalomali baxabisa i-$ 680 yezigidigidi, okanye ixabiso elincinci ngalinye kwi-dollar yemali engenayo kuneGoogle.
Kuze kube ngoku, zombini utyalo-mali lube luneliseko. I-Berkshire Hathaway, ehlala ingabalulekanga, idibene ne-210.09%. I-Google, ehlala iphezulu, ihlanganiswe ngama-349.12%. Ndilala ngcono ngobusuku obubanjelwe iBerkshire Hathaway kodwa i-Google ye-diversification yakutshanje yenza ukuba kube nzima kakhulu kum. Ngokuqinisekileyo ingaba yimpumelelo, iqinileyo ye-blue chip ngokuzimeleyo.