Indima yoLawulo ekunqumeni ixabiso lentengo
Olu pho nonongo lwengxowa-mali lweYankee Candle Company lwabhaliweyo ngaphezu kweminyaka elishumi edlulileyo njengengxenye ye- Investment for Beginners site, ukuba ndibalekele i-About.com. Kubonisa ingcamango yokuba uBenjamin Graham uthetha nabafundi bakhe e-Columbia University; Ixabiso lentengiso leenkampani alisoloko libonakalisa ukubaluleka kwangaphakathi kwelo nkampani nantoni na ukuba abo bathengisa i-market nonsense yezinto ezifanelekileyo bangathanda ukuba nikholelwe. Ibalaselisa indlela ongakhetha ngayo ukukhetha utyalo-mali kwiphothifoliyo yakho njengokungathi ungumnikazi wabucala wobugcisa ofuna ukufunyanwa. I-Yankee yafunyanwa emva koko, yabangela ukuba imvula ibe yimpumelelo yabanini-zimpahla, kwaye, ngokusebenzisa uchungechunge lweentengiselwano, ibe yinkxaso-nkampani yenkampani ebandakanyekayo ngokubanzi emva kokudlula ezandleni zamashishini abucala abucala, ekuboneni kwam, ukunciphisa umgangatho wemveliso kwaye wenza ingozi engunaphakade kwi-brand equity brand.
Ngokuqhelekileyo, ukuba ubuza kubuzisa abatshali-mali oko bakufunayo kwiimpahla zabo, bangatsho into ethile emigqeni, "ukuya phezulu". Kwixabiso liyi-Paramount , senze le ngqungquthela kwaye sathetha ngendlela imarike ewayo eyanene ngayo kubarhwebi-mali bexesha elide kunye neminyaka emininzi kude nomhlalaphantsi njengoko ibenza bakwazi ukuthenga ipesenteji enkulu yokulingana kwenkampani nganye.
Ngaloo ngqondweni, qwalasela imeko yethu yangoku: i-Yankee Candle. IYankee ibhishini elihle kwiimeko zonke zegama. Imbuyekezo kwixabiso elibonakalayo liphezulu ngophahla, ishishini lijongene nenzuzo enkulu yokukhuphisana kunye nexabiso lokuthengiswa kwemali kunye ne-50% yesabelo semarike kwicandelo lekhandlela le-premium, ulawulo luhlakaniphile kwaye luyalungiswa ngokubuyisa yonke imali eninzi kubanini-nxaxheba. unyaka ngokusebenzisa ukuthengwa kwempahla kunye neengeniso zemali , kwaye i-shishini linamathuba amaninzi ngoku adala ezinye iinkampani zamakhandlela ukuthengisa ngezithuthi "eziphezulu" njengeCococo noKoehl.
Intsalela yodwa kukuba i-parafini yecaffin yi-product ye-petroleum. Ngenxa yeendleko eziphezulu zeoli kunye nokucocwa kwamandla okuxiliswa (okwenziwe ngumbandela wokuba omnye wabanikezeli beex abakhulu baseYankee bawabeke kwi-70% yesabelo se-70% emva kokubandezeleka kweNkantwa Katrina ngonyaka odlulileyo), kwaye akumangalisi ukuba Iindleko ze-wax ebomvu zaphakamisa ngaphezu kwepesenti ezingamashumi amabini (20%) ngexesha lekota yakutshanje, ngaloo ndlela zikhokelela ukwanda kwexesha elisezantsi kwiYankee's candy Housewarmer amakhandlela kule ekwindla.
Ezi zinto zenze ukuba ulawulo linciphise iikholeji zalo zonyaka nekota ngonyaka odlulileyo, okubangela ukuba isitofu siwe kakhulu ukusuka kuma-32 angama-iveki phambi kokuya ngaphantsi kwe-$ 21.
Uvuyo lwexabiso eliphantsi kwamaxabiso
Njengomtyalo-mali, ndandenza ii-handstands. Ngoba? Kwiminyaka elishumi, andikulindelanga iingxaki ezijongene neYankee namhlanje ukuba zibe yinto ebalulekileyo. Okwangoku, ndithengisa inkampani eyayinemali yemarike eyi-850 yezigidi, eyayifumana iiligidi ezingama-80 ezigidi zemali kodwa yenzelela ukuhamba kwemali eyi-$ 110 ukuya kwizigidi eziyi-120 zezigidi, kwaye ngokusebenzisa imali eyimboleko, ihlawulele i-stock $ 185 yezigidi zayo kunyaka ongaphambili. Njengebhonasi eyongeziweyo, isahlulelo semali esinikezela ngaphantsi kwe-1.1% ngonyaka yenziwe ikhokhelwa kubani-nxaxheba. Ngemiba enjengale, ayizange ithathe isazi senzululwazi ukuba i-Yankee iqhubeke nokuhlawulela izabelo ngesantya apho i-float yesitokisi esasisigxina esaye yafika ngokukhawuleza, abaphathi abanamalungelo abakhoyo baya kuba baninzi kakhulu, babe kudlula. I-Factor kwimvuzo ephezulu ngaphantsi komgwaqo, kwaye yandivumela ukuba ndive ngakumbi ngakumbi malunga nemigangatho yam yokufumana umlinganiselo owanelisayo wokubuya kweli shishini elithile ukuya kwi- S & P 500 .
NgoLwesithathu, ngoJulayi 26, nangona kunjalo, ulawulo lwakhankanywe ukuba inkampani ibambisana noLehman Brothers ukuba bajonge "iindlela zokucwangcisa" -Wall Street uthetha "siza kujongela ukuthengisa inkampani kumthengi wezezimali okanye uqhinga".
(Inqaku labafundi: abathengi bemali ngabo bafika kwishishini, ngokuqhelekileyo basebenzise imali ephezulu yokubaluleka, ngenjongo yokuyithengisa emva kwexesha emva kokukhula kwemali okanye ukuvala amaqela angaphantsi. kwishishini malunga nento engayenza kwimisebenzi yabo ekhoyo; enye inkampani yekhandlela, ngokomzekelo, iya kuluhlu.)
Esi simemezelo sabangela ukuba isitokethi siphezulu nge-20% kwintengiso yokusa. Kwinkomfa yenkomfa, omnye wabaphathi abakhankanywe (ndichaze apha), ukuba "kucacisa ukuba inkampani yayingabalulekanga kwixabiso layo lwakutshanje kwaye saziva ukuba ngumsebenzi wethu kubanini-nxaxheba ukuba bahlole ezinye iindlela zokuvula ixabiso labo utyalo-mali. "Inqaku lam! Ulawulo kunye neBhodi yabaLawuli babenethuba elihle lokusebenzisa ubuthathaka bokugqibela bexabiso ukubuyisela enye ibhloko enkulu yezabelo zeenkampani kunye nabahlala phantsi; bekuya kwenzeka ukuba bafumane iipesenti ezilishumi elinesihlanu (15%) okanye ngaphezulu ngaphandle kokunciphisa imithombo yenkampani ngokubanzi.
Okwangoku, abanini-mali abanemibono yexesha elide baya kukwazi ukuqhubeka nokuthenga izabelo zeeakhawunti zabo. Kunoko, babecinga ixabiso lentengo eliphantsi njengengxaki ekufuneka isombulule kunokuba ithuba lokusebenzisa.
Ngokwenza isimemezelo, kunjalo, zombini amathuba alahleka. Ulawulo alukwazi ukuqhubeka nokuthenga i-stock back if they consider seriously the sale of inkampani kunye nentetho intuthuko kunye namaqela anomdla, kwaye abo bethu bebonke abasebenzisa ixabiso eliphantsi baye balahlekelwa ithuba lokuthenga izabelo ezingaphezulu ishishini kwixabiso elihle. Andikwazi ukunceda kodwa ndivakalelwa kukuba abaphathi babathengisa abo bethu ngama-horizons enkqantosi ngenxa yexesha elidlulileyo kwiWall Street.
Oku kuphakamisa umbuzo wefilosofi onomdla onokubaluleka kuwe-umtyalomali - ukuphendula. Enyanisweni, uBen Graham ubhale ngaphezu kweminyaka engamashumi asixhenxe edlulileyo kwi- Analysis Security . Ngaloo nto, ngaba iBhodi yabaLawuli kunye nabaphathi banembopheleleko yokufuna ukudala ixabiso elifanelekileyo kwisitishi sabo esifanelekileyo ukuze abo bafuna ukuthengisa izabelo zeendleko zokuhlala, njl., Banethuba lokuthengisa ngexabiso elibonakalisa ukungena xabiso lawo? Ukuba impendulo inguwe, ke akulungile ukuba abaphathi bathenge i-stock ukuze bafumane amaxabiso aphantsi njengoko bafuna iqela elinye labanikazi abanini-zimali (abaqeqeshiweyo abanamakhishini abanobugcisa abanobuchule obuyimfuneko ukuba babone xa isitokethi ayinakulinganiswa kwaye ibe nemithombo yezemali yokubamba, okanye ukuthenga ngaphezulu, xa isitokisi siphazamisa ngaphezu kwesinye (abantu abahlala rhoqo abangekho ubuninzi obuthileyo kunye nokutshala imali yokuphucula umgangatho wabo wokuphila). Ngelishwa, nguwe kuphela ongayiphendula loo mbuzo.
Ekugqibeleni, ndiyavuya kakhulu ngemali enkulu eyenziwa yiYankee Candle holdings. Andikwazi ukuncedisa kodwa ndilila ixabiso elilahlekileyo, nangona kunjalo, xa ndiyeka ukujonga indlela ezo zabelo zazingenakunzima ngayo kwiminyaka elishumi ezayo. Ngubani owaziyo? Iimakethi ayilungile; mhlawumbi intlawulo iya kubuyela apho bekuyiyo (ngokwenene, isitokisi sibonakala sibuyisela ezinye zale ntlawulo njengoko abanini-mali abanamalungelo bathatha inzuzo yabo). Ukuba kukho nantoni na, oku kusebenza ukubonisa ukuba amathuba eWall Street aphefumlelweyo . Yingakho kubalulekile ukuba abatyali-zimali abancedisayo babe neengxowa-mali zokubasebenzisa ngokukhawuleza kuba xa bevela, abakwazi ukunamathela ixesha elide.
Eli nqaku lishicilelwe ngoJulayi 27, 2006.
I-Balance ayinikezeli irhafu, utyalo-mali, iinkonzo zemali kunye neengcebiso. Ulwazi lwenziwa ngaphandle kokuqwalasela iinjongo zotyalo-mali, ukunyamezela, okanye imeko zezimali kwanoma yimuphi umtyalo-mali othile kwaye angenakufaneleka kubo bonke abatyalo-mali. Ukusebenza kwangaphambili akubonakali kweziphumo ezizayo. Utyalo-mali luquka ubungozi kubandakanya ukulahlekelwa kwinqununu.