Ukufumana ukulingana okufanelekileyo phakathi koTyalo-mali kunye neCash Reserves
Ngaphambi kwexesha elingakaze lenzeke lezemali eliye lalingisa amazinga emhlabathini, akukuyo yonke into edlulileyo owawuvula i-akhawunti ye-brokerage , ukhethe i- akhawunti yemarike yemali okanye enye indlela efanayo , kwaye ulinde ngomonde ukufumana utsalo-mali okhangayo ngelixa iqokelele iipesenti ezi-4, iipesenti ezi-5, okanye iipesenti ezi-6 kwimali yakho; izabelo kunye nomyinge ohlawulwa kuphela njengomvuzo wokugcina uhlalutyo ngesandla.
Ukubonakala okunengqondo emva kwalo mbuzo kubandakanya umgca onobungozi wokucinga. Ngokuqhelekileyo kuhamba into enjengale: "Ukuba ndifumana [ipesenti ye-x] yepotfoliyo yam cash, kwaye imali ayizuzi nto, kutheni ungayilahli yonke into ye- blue chip , i- index index okanye enye i-securities ukuze ndifumane into , nokuba ngaba iipesenti ezimbalwa kuphela? " Kungathi ingqiqweni ephezulu kodwa kuyiphutha lokuzilahla; enye ongayiboni ukuyichaza phakathi kwabacebisi okanye abaqeqeshi abazi kakuhle.
Abatshali-mali abakhulu kakhulu bayazi i-Cash kwi-Portfolio yakho inemivuzo emininzi
Abatyala-mali abasemgangathweni bayaziwa ngokuba bagcina imali eninzi ngemali, ngokuqhelekileyo kuba bayazi ngamava okuqala ukuba izinto ezibuhlungu zifumana njani ngezikhathi ezithile; ngokuphindaphindiweyo ngaphandle kokusixwayisa. UWarren Buffett uhlezi kwi-R60 billion ngonyaka.
UCharlie Munger uya kuhamba iminyaka eyakha ezinkulu iimali kude kube ngathi wayefumene into engciphekweni kwaye unengqiqo. I-Tweedy Browne, abaphathi be-Tweedy Browne Global Value Fund, banee-18 zepesenti zebhanki. Akunjalo ngokungaqhelekanga. Enyanisweni, xa iqela elithembekileyo nelona lidala lithemba liqhube isifundo sezindlu eziyi-1,821,745 eUnited States kunye neepowfoliyo zokutshala imali ezixabisa i-$ 3,000,000 okanye ngaphezulu, zifumene into emangalisa. Njengoko ndacacisa xa kuhlaziywa kwedatha:
- I-8 kwabangama-100 ibanjwe ngamaphesenti ama-50 okanye ngaphezulu kweeposfoliyo zabo ngemali
- I-14 kwabangu-100 ibanjwe ngamaphesenti angama-25-50 eepostiliyo zazo
- Abangama-40 kwabangama-100 babambe iipesenti ezi-10-24 zeepostiliyo zabo ngemali
- I-38 kwabangu-100 ibanjwe ngaphantsi kweepesenti ezili-10 zeefowili zazo ngekheshi
Ndiyayibona yonke ixesha. Ndiyazi omnye ummi ophezulu oqokelele ubutyebi bakhe kumanqaku asixhenxe aphantsi. Lo mntu uthengisa ngokupheleleyo kwi-real estate, akanalo ityala elincinci, alisebenzisi ngamakhadi-mboleko, ahlawula imali yonke into, kwaye ugcina ubuncinci be-150,000 ngamaxesha onke kwibhanki yendawo. Njalo xa sihamba emdeni, uya kuthenga imizi emininzi ephazamisayo, aphucule, aze aqeshe abaqashi, adala enye imvelaphi yengeniso.
Yimali ephothifoliyo eyenza oku kwenzeke; Ukuvalwa ngokukhawuleza kunye nokuthunyelwa kwegama xa ithuba libonakala, akukho mfuneko yokufumana imvume okanye imigangatho yokuncintisana esuka ebhankini xa kubalwa ukuhamba kwemali. Imali iququzelela yonke impumelelo nangona ibukeka ngathi ayenzi nto nayiphi ixesha elide. Xa utyalo-mali, le yaziwa ngokuba yi "powder dry". Imali ikhona ukusetyenziswa ngamathuba anomdla; ukuthenga iimpahla xa zingabizi, ukunciphisa isiseko seendleko okanye ukongeza imithombo emfutshane engenayo engenayo .
(Ingozi ekukhuthazeni ukugcinwa kwemali kwipotifoliyo egxile kuma-equity abathengi abangenamava rhoqo abaqondi ukuhluka phakathi koku: 1. ukucwangcisa / ukuqulunqa izicwangciso, njengalezo eziphakanyiswa nguJohn Bogle noBen Graham, ii-strategic based based strategies, afana nalawo awakhuthazwa nguPeter Lynch, uBen Graham, uWarren Buffett, noCharlie Munger, kunye no-3.
kwixesha leemarike, ekupheleni kwayo eyingozi kakhulu kwaye phantse ezithile zikhokelela kwiziphumo ezingaphantsi. Ndizibonele ngokwenene ezimbini zokuqala, zombini zazo zixhaswa ngedatha yezemfundo ezingenakuphikiswa kule ngongoma, ebizwa ngexesha leemarike ngokungenamsebenzi wokuziqonda ngabantu ababambe ngokungathi ba iingcali! Kuya kuba yinto ehlekisayo ukuba kwakungeyona nto ibuhlungu kuba le mali yangempela kumgca; imali efunekayo ekufuneka ihlawule iibhilikhwe zazo, ibeke ukutya kwindawo yayo, kwaye igcine uphahla phezu kwentloko yabo.)
Enye indima yemali kwipotfoliyo yakho isebenza njengendawo yokugcinwa kwempahla enokuthi ungabetha phantsi xa iimarike zithatha okanye ukuthengiswa kwempahla zivaliwe ngeenyanga ngexesha, ukwenza ukuchithwa kwempahla kungekudala. UBuffett uyakuthanda ukutsho ukuba kufana ne-oxygen; wonke umntu uyayidinga kwaye uyifumene xa ininzi kodwa kwimeko engxamisekileyo, yinto ebalulekileyo kuphela. Nokuba i-gurus yezemali ehamba phambili incomela ubuncinane iindleko zeenyanga ezintandathu ezigcinwe kwi-check-insured ye-FDIC, ukugcinwa, okanye i- akhawunti yemarike yemali . Kulo mandla, imali yinkampani yomshuwalense yeentlobo ezizimeleyo ngokupheleleyo ukukwazi ukufumana impahla ekhangayo; uyayifuna apho ukuze uhlawule iibill xa beza ngenxa yokuba isiqhwithi siphephelo kwaye awukwazi ukuphepha ezinye iimali zakho. Buyela kwinto endiyithethayo xa ndicacisa uBenjamin Graham: Umtyalo-mali owenene unyanzelekile ukuba athengise i-securities yakhe. Isicwangciso, inkqubo yolawulo lwephothifoliyo, yinto enhle, akuyimfuneko nakwixesha elimnyama kakhulu.
Oku kuyinyani ngokukodwa kubatyalomali abathathe umhlala-phantsi. Khawucinge ukuba ubeka umlinganiselo wokukhupha umhlalaphantsi okhuselekileyo ngowama-3 ekhulwini, zonke izinto ezicatshangelwayo, kwipotifoliyo yakho. Unayo i-$ 500,000 ibekwa bucala kwaye ityalwe kwisivuno semali engama-2.8 ekhulwini. Ngokugcina ubuncinane ama-10 ekhulwini, okanye i-$ 50,000, ngenkokhelo, sinokungena kwi-epic, i-1973-1974 yokutshatyalaliswa kwesimbo okanye ukugqithisa, ukuwa kwe-1929-1933, kwaye awuyi kuthenga nayiphi na into ebambe ngayo ukuxhasa imali yakho. iimfuno zokuhamba, kungakhathaliseki ukuba kulubi kangakanani na ukuba izahlulelo kunye neentlawulo zenzalo zilahlekile okanye zivaliwe ngugxininiso olujongene nokuzama ukugcina amafemu asebenzayo, iminyaka eyi-3 kunye neenyanga ezintathu. Ngayo nayiphi na imali eyayiza kwenzeka-kwaye kuya kubakho ukuba ezinye iinkampani zisebenze nzima ngethuba loLwabizo oluKhulu lokugcina ukuthengiswa kweenzuzo kubanikazi babo, nokuba ngaba i-dividend isivuno sinokugqitha ngaphezulu kweepesenti ezili-10-ezaza kwandiswa ixesha elide. .
Enye enye indima yemali kwipotifoliyo yakho yengqondo. Iyakwenza ukuba unamathele kwisicwangciso sakho sotyalo-mali ngokusebenzisa zonke iintlobo zezoqoqosho, iimarike kunye nezopolitiko ngokubonelela uxolo kwengqondo. Xa ukhangela iiseti zeenkcukacha zetekethi, njengalezo zihlanganiswa nguIbbotson, unokusebenzisa iziphumo zengqondo zokungaxhamli kwiintlobo zeepotfoliyo ezahlukeneyo. Nangona isetyenziselwa ukusebenzisa ukucwangciswa kwesitokisi / iibhonki, isifundo esisisiseko siqhubeka xa uhlolisisa indlela ukuqaliswa phakathi kweepesenti ezili-10 kunye ne-30 ekhulwini ye-asethi ngendlela yokungabi nabulungisa kunciphisa kakhulu ukungazithobeli kwipotfoliyo kunoma yiyiphi inqobo- ukubuyela emhlabeni. Ukuba nomthombo wendawo yokugcina imali onokuyidibanisa ngayo, kwaye loo nto isebenza njengekhonkco xa iimarike zokulingana, iimarike zeempahla, okanye iimarike ezibopheleleyo, zisekuhlaleni kwamahhala, ngumthombo wenduduzo encinane kwimpilo yezemali inokunikela .
Ukuqulunqwa kweNqanaba leeMali omele ugcine kwiiNgxowa-mali zakho
Kuba abaninzi abantu, izinga elincinci lokuncinwa kwemali lokugcina imali yinto engxamisekileyo yinkxaso engxamisekileyo kweenyanga ezintandathu, njengoko sele zikhankanywe ngokudlulayo. Iimali ezizimeleyo zivumela ukuba ufumane iintlekele ezingenakulindelekileyo okanye iimangalo ngaphandle kokuthengisa impahla yakho, ukukhupha irhafu kwaye mhlawumbi ngezinye izihlandlo ezingathandekiyo kumdla wakho. Kubatyalomali abangaphantsi kwama-$ 500,000 ngokufanelekileyo kunye nabangaphantsi kweminyaka eyi-10 kude nomhlalaphantsi, kunokusengqiqweni ukuhlala i-100 ekhulwini imali-mali kwiimali, ngokuthe ngqo okanye ngezimali ezithile, njengengxowa-mali yengxamisekileyo kwi-bhanki yasekuhlaleni ( okanye naphi apho ukhethe ukuyifaka khona) uzalisekisa indima efanayo. Ngaphandle kweemeko, kwaye phantsi kwazo zonke iimeko, ezi mali ezixakeka ngokukhawuleza mazilawulwe ngesicwangciso-mali sokugcina . Musa ukuthatha ingozi. Ukufumana ukubuyiswa kuyisibini. Gcina idola libiza indleko kwi-portfolio yakho.
Emva kokuba ususwe ngaphaya koko, amanqanaba amancinci omncinci athathwa njengobulumko angahluka. Ngokuqinisekileyo, zikho izihlunu ezenza izinto ezinjengeengxowa-mali zemali zentambo kunye nokutyhila okukhulu okufuna ukuvelisa iindwendwe ezithe xaxa kodwa xa izinto zihamba ezantsi - zihlala zihlala kwaye zihlala zifuna-zinexesha elinzima ukusinda ekupheleni kwexesha elide. Ulawulo, ukuphazamiseka okuqhelekileyo okubonakala kuvelisa ukubuyisela kweepesenti ezingama-21, iipesenti ezingama-43, kunye ne-41 ekhulwini emva kwemali, ngokulandelanayo, kwiminyaka emithathu ukuya kweyithathu, kuphela ukufumana ukutshabalalisa okupheleleyo kwiminyaka emine. Emva koko, badlala "nabanye abantu" imali kwaye abaphantse bakhuthaze ukuba bangaguquli kwiingcingo; inkxwaleko yokuziphatha engathandabuzekiyo engenzi impucuko into enhle. Andizange ndibone umntu onomlinganiselo ohloniphekileyo wengqiqo ekuphakanyeleni angaphantsi kwamaphesenti ama-5 kunye nabaninzi abaqeqeshekileyo abachwephetha bakhetha ukugcina okungenani ama-10-20 ekhulwini esandleni. Ngokombono wam, ubungqina bezemfundo bubonisa ngokugqithiseleyo ukuba ubuninzi bezohwebo / ukubuyisela ukurhweba kubakho kwindawo ephakathi kwe-10-20 ekhulwini yemali yokugcina imali (okanye iipesenti ezingama-30 ukuba udibanisa imali kunye neenkokhelo ezingenakunikwa). Kwipotifoliyo ye, ithi, i-$ 5,000,000 engabhekisela kuyo ukusuka kuma-250,000 ukuya kwi-1,000,000,000.
Ngokuqinisekileyo, ezinye iintsapho eziphumeleleyo ziqesha abaphathi beepotfolio kwaye ziyalela ukuba zihlale zibophe ngokupheleleyo. Ngokomzekelo, ukuba ungena kumphathi we-asethi kwaye uxelele ukuba uphatha iimfuno zakho zokwehliswa kwempahla, kuya kuba neengqiqo ngokufanelekileyo ukuba ungagcini imali kwi-capital oyifaka phantsi kolawulo lwazo kuba wenze isigqibo kwinto ofuna ukuba imali yakho ibe yiyo kwaye ubanika bonke ukwabiwa kobulungisa ofuna ukuba bawaphethe.