Izizathu Zokuba i-Hanesbrands ixabise i-Market So Far
Izicwangciso ezinkulu zokutshala imali zihamba ngaphaya kwamanani. Ngokuqinisekileyo, iinkampani zentsebenzo zihlala zibala kodwa iisitokethi zokuhlola ezisekelwe kuphela kwimetriki ayisebenzanga ixesha elide. Thatha umlinganiselo wexabiso likaBen Graham ngomzekelo; yayisekelwe kuphela kumetrikhi, kwaye ayisebenzi nanamhlanje ngenxa yokuba izitokhwe nje azizithengi kangangoko zibe ziphantsi koxinzelelo. Leyo yinxalenye yesizathu sokuba indlela kaPeter Lynch iphile kakuhle. Idibanisa imilinganiselo efanelekileyo kunye neyomlinganiselo kwaye ihlale ilawula amasheya ezinxulumene neontanga zabo.
Ndandisandul 'ukuxubusha indlela uLynch "athenge ngayo into oyaziyo" isinceda abatyali-mali bafumane iimpahla ezinkulu zokuthengisa . Kwiiveki ezizayo, siza kugxininisa kwimpahla yokuthengwa kwempahla yabathengi ejongene nenqobo yeLynch "yesitokisi esipheleleyo," echazwe kwi- One Up On Wall Street.
Okokuqala, siza kujonga i-Hanesbrands Inc., isitokethi esitshitshise i-S & P ngokuphindwe kane, ngaphezu kweminyaka emihlanu edluleyo. Kwingxenye enye yale ngqungquthela, siya kujonga i-Lynch emithathu evunyiweyo imigaqo eyenze i-Hanes impumelelo kuze kube ngolu nqaku.
01 Yi-spinoff
Xa i-conglomerate ivumela enye yeebraki zayo ukuba ibe yinkampani yayo yokuthengisa ngokukhululeka, ibizwa ngokuba yi-spinoff. Ngokuqhelekileyo, amaqumrhu e-splin-off off xa ejongene nokugxekwa kwixabiso lentengo. Emva koko, ukuba i-marhwebo ayinakuthengisa ngokupheleleyo impahla yayo, kutheni ungayifumani kwaye uzuze xa inkampani encinane ihamba esidlangalaleni?
Uphando lubonisa ukuba iinkampani ezithengileyo ziye zagqithisa kakhulu iimarike kwiminyaka embalwa edlulayo. Ngaphandle kwe-ETF ye-Guggenheim Spin-Off, elandelela amathuba abaqhubi bayo abaphathi abangamashumi amabini anamanci amahlanu, ixabise i-S & P ngamanzi amaninzi kwixesha elidlulileyo eli-1, 5, okanye iminyaka eyi-10.
Izihlwele zivame ukwenza kakuhle ngenxa yezizathu ezininzi. Inkampani ehlanjululwe ngokukhawuleza ineqela elilawulayo elizinikezele kuphela ekusebenzeni kwayo kwaye ayinayo ukwabelana ngezixhobo nge-conglomerate. Iintlanzi nazo zihlala zihlaziye iibhatshethi ezihlambulukileyo xa zihamba esidlangalaleni, njengoko inkampani yomzali inikwe imali kwimpumelelo yayo. Ekugqibeleni, inkampani yomzali we-spinoff ityalomali kwimpumelelo yayo. Ekugqibeleni, i-spinoff 'ayinakuchukumisa uhlobo lwentengiso-mali eyenziwa yi-IPO, ngoko ke abatyali-mali bangakwazi ukuthenga i-stock kwixabiso elifanelekileyo. Ngokuqinisekileyo kwakuyimeko ye-Hanesbrands, i-stock spun-off yaseSara Lee ngo-2006 kwaye izabelo zahlala zingathathi hlangothi iminyaka embalwa ngaphambi kokuba zisuswe. Ngelixa i-spinoffs ayikho isiqinisekiso sokuphumelela, ziyimpawu ezintle ukuba zonke izinto "zihlola" kwisitokisini. Kwimeko ye-Hanesbrands, ukuba i-spinoff yayingumzekelo omnye othabisayo. Awukho isiqinisekiso sokuphumelela, ziyimpawu ezintle ukuba zonke izinto "zihlola" kwisitokisini. Kwimeko ye-Hanesbrands, ukuba i-spinoff yayiyinto enye enomdla.
02 Kunzima
I-Hanesbrands ihambelana neminye impawu ezimbini zeLynch ezidibanisa nomxholo oqhelekileyo: kwishishini lokukhula ngokukhawuleza kwaye liyancipha. I-Hanes iyimarha, ayiyinto entsha eshisayo, kwaye leyo ingaba yinto eninzi kubatyalimi ngezizathu ezibini.
- Kungakhathaliseki ukuba ichane kangakanani ishishini okanye ishishini, uza kwenza imali kuphela xa ixabiso lakho lempahla likhuphuka. Ngako oko, unokukhetha ukuthenga isitokethi esinesibhozo esincinci sezobhankinini ekuthengiseni ixabiso. Ngelishwa, isitokisi esishisayo kumashishini ashisayo amaxabiso abo athathwe ngokukhawuleza; jonga nje zonke ii-IPOs ze-intanethi kwiminyaka embalwa edlulileyo. Ezinye zee-IPO zingabanqoba kodwa, njengeqela, ixabiso lawo licebile kakhulu.
- Amashishini ahlalutya inzuzo kunye nemingcipheko ephantsi yokungena, atyelele imithwalo yokhuphiswano. Ngulo mthetho owona mgaqo-siseko. Thatha iwebhusayithi ekhuselekileyo yokubhuka yokuhamba ngomzekelo; Iingeniso zayo ezikhulayo ziyingozi ngoba ukuqala indawo ekhuphisanayo kudinga phantse i-capital-start-up. Ngakolunye uhlangothi, i-Hanes ayikho uhlobo lwezoshishino zeHarvard PhDs ezidibanisa ukudala kwaye, nokuba ngaba ziyenzile, imilinganiselo yayo kunye neemfuno zeemali eziphezulu ziyimingcipheko ebalulekileyo yokungena.
Ekugqibeleni, inqabileyo kwaye inenzuzo yintlangano enkulu. Amasheya ahlangabezane nale nkqubo iyadlalwa yiWall Street kuba iphrofayili ephantsi, enika amaninzi amanqaku okungena kubatyalomali. Ngomqondiso ofanayo, itekethi "engabonakaliyo" ayikhange amanqaku amaninzi akhuphisanayo, okongeza inani. I-caveat kuphela kulo mgaqo "ibheno" ishishini kufuneka libe nomqobo ophezulu ekungeneni okanye enye into egcina abakhuphisanayo, ngenxa yokuba "un-sexy" iya kuhamba ngoku.