Ziziphi iinkampani ezenza isigqibo sokuba nini kunye neNani leMigangatho yokuTyala abaTyalo-mali
Ndifuna ukuthatha ixesha lam kule ntambama kukunika ingqiqo kwiinkqubo zokucinga ezinokubangela ibhodi yeenkampani xa zivakalisa ukuba zilandela umgaqo-nkqubo othile wokuhlawula igalelo kunye neentlobo ezimbalwa zeenzuzo kunye neengxaki zeengcali ezahlukileyo zezahlulo kwiimbono zombini ishishini kunye nomnini-zimpahla.
KwiNkcazo yezeMali, ekugqibeleni iNkampani ibalulekile kuphela into engayihlawula ngayo
Ukuba unolwazi olupheleleyo lwezemali kunye nolwabiwo-mali, uyazi ukuba, ekugqibeleni, ukulungiswa kwoshishini elinalo naluphi na uxabiso lubophelelwe ngamandla ekuhlawuleleni iindleko ngoku okanye ngexesha elithile (nangona abo izahlulo ziza kwifom yokubuyela emuva kubanikezeli-zimali, njengoko kunjalo nakwizicwangciso zokuthengwa kwempahla ). Akukhathali ukuba unayo ibhizinisi ngokuthe ngqo, mhlawumbi njengentsapho isebenze inkampani ejongene nokunyaniseka , okanye ukuba unayo ibhizinisi ngokwengxenye ngokuthengwa kwezabelo zabanye kwi- akhawunti yakho ye- brokerage , i- Roth IRA , isicwangciso sokuthenga esitokisini esithe ngqo , isahlulo sokubuyisela isabelo , imali yenkcazo , i- collective fund , okanye i- ETF , ngandlela-thile, umntu ophantsi komgca, wena okanye umnikazi olandelayo, unokukwazi ukurhoxisa imali kwishishini ngendlela yesahlulo semali esingasetyenziselwa, ngenye indlela ishishini alinalo ukulungiswa koqoqosho olukhoyo njengento esetyenziswa ngayo.
Ngamanye amazwi, ukuba kukho umgaqo ukuba urhulumente ahlawulise i-100% yazo nayiphi na intlawulo evela kuyo nayiphi na ishishini, amasheya ayengeke ayenze ixabiso kubafakeli-mali abangaphandle, kwaneenkampani ezingazange zihlawule igalelo ngenxa yokuba isithembiso sokukwazi ukuhlala umvuzo emva kokuba ezo nkampani zikhule ziphelile ngoku.
Kwiimeko ezininzi, ingakumbi apho inkampani inethuba elihle lokulima umvuzo kwi-asethi kwisiseko semali ukunyuka kwiindleko eziphezulu kwi-capital , mhlawumbi kungamashumi eminyaka ngaphambi kokuba i-dividend yokuqala ibhengezwe. Ngokuqinisekileyo, amanye amashishini athatyathwa ngolu hlobo - i-Wal-Mart Stores ngumzekelo obalaseleyo njengokuba ngowona uphuhliso oluphambili kakhulu kwixesha lonke kodwa uSam Walton wayenenkampani yakhe yokubuyisela ukusabalalisa amavuzo kubanini-zimpahla ngokunyuka okunyukayo kunyaka ngamnye kunyaka, becinga Kubalulekile ukuhlamba ezinye iintuthuko kubo ekuhambeni kohambo kunokulinda konke ukufika ekupheleni okanye ukufuna abantu ukuba bathengise ubunikazi babo ukuze bathengise imali kwixabiso lokubakho okwenzekayo - kodwa abanye bayayifaka. UMicrosoft ungumzekelo onjalo.
Kuba phantse isizukulwana, iMicrosoft ayizange ihlawule igalelo kwizahlulo njengoko umgaqo-mali wokuhlawulela ukugcina yonke imali yokufumana ukukhula injini engundoqo eneemigca ezisebenzayo ezinkulu kunye nokubuyisela okukhulu ngokubaluleka kokulingana . Yagcinwa kwaye igcinwe i-earnings , ibe enye yezolimo-mpu melelo kakhulu kwimbali ngendlela efanayo noWal-Mart. Ukuba ubeke imali engama-$ 100,000 kwi- IPO ngomhla we-13 kuMatshi ngo-1986, kwaye uyifake kwi-vault kude kube ngo-Meyi 2016, uza kuhlala kwizinto ezinjenge-53,827,182 ze-$ in-stock kunye ne-$ 11,635,807 kwiingeniso zemali phambi kweerhafu, ucinga ukuba akukho ntlawulo yokubuyisela inzuzo kuwo onke (kwaye uyazi indlela enkulu inzuzo yokubuyisela inzuzo ngayo unokucinga nje ukuba ubuninzi obungakumbi obunokuba nayo xa udibanisa loo mahlulelo ekuthengeni izabelo ezingaphezulu).
I-$ 100,000 yakho yahluma kwi-$ 65,462,989 kwiminyaka engama-30 nje, ihlanganiswe malunga nantla kummandla we-24% ngonyaka ngonyaka weeminyaka ezintathu ezilandelelanayo ekuqhutyweni kwincwadi yokurekhoda; ukugijima okwavumela iiBill Gates ukuba zenze inkampani yokubamba yangasese ebizwa ngokuba yiCascade Investment kunye nenye yezona ziseko ezisisiseko kakhulu kwihlabathi.
Kuloo mali eyi-11,635,807 kwi-dividend yengeniso efunyenweyo oyifumanayo, isahlulo sokuqala asizange sihlawulwe kuze kube nguFebhuwari 19, 2003, apho igalelo eziqhelekileyo zaqala khona. Isabelo sakho sokuqala besiza kufikelela kwi-$ 82,305. UMicrosoft wachaza isahlulo esisodwa sexesha elilodwa ngoNovemba 15, 2004, njengomvuzo omkhulu kubo bonke abatyala imali. Kwimeko yakho, loo ntlawulo yexesha elilodwa yayiza kuba malunga ne-$ 3,168,726. imali ejoliswe ngqo kwi-akhawunti yakho ye-brokerage, ukujonga i-akhawunti, okanye i-akhawunti yokulondoloza okanye, ngokunye, ithunyelwe kuwe njengephepha lokukhangela kwi-imeyile.
Kule minyaka, ukunyuka kweemeteoric kwintengo yempahla kwakubonakaliso, nangona kungabonakaliyo kwaye kunzima kakhulu, ukuqikelela kokutyalwa kwe-zimali ngokubhekiselele kwixabiso langaphakathi lala majelo emali ezayo. Ukuba imali ayikwazanga ukukhishwa ngokuthe ngqo okanye ngaphandle kweMicrosoft, isisidenge kuphela sasingathenga isitokisi. Kwakuyinto yesithembiso sokuhlawulwa kwexesha elizayo, ngezinye iinkalo, elalibuyisela ukubuyela kwayo. Kwakhona, oku akuyona into entsha kumntu onemvelaphi kwimali okanye kwi-accounting-izinto ezisiseko zokufunda-kodwa kubalulekile ukuqonda ngaphambi kokuba singene kwingxoxo malunga nomgaqo-nkqubo wokuhlawula umvuzo.
Eminye yezinto iBhodi enokuyicinga xa iCwangcisa iMigaqo-nkqubo yokuThumela iMida
Njengoko yenza isigqibo malunga nomgaqo-nkqubo wokuhlawula umrhumo ofanelekileyo, ibhodi yabalawuli benkampani inokuqwalasela izinto ezininzi kubandakanywa, kodwa kungagqibekanga, oku kulandelayo.
- Ziziphi amathuba okubuyiswa kwakhona kwemali engaphezulu kwemali? Ukuba unenkqantosi eqhubekayo kwilizwe okanye kwihlabathi elingenasiphelo emehlweni, akunangqiqo ukuhlawula idola ukuba unokudala ngaphezulu kweedola yexabiso ngokuyibuyisela emsebenzini. Ukuba unenkampani enamandla kakhulu eneentlawulo eziphantsi kwixabiso eliyinkunzi, akuyi kwenza umqondo omkhulu ukuqhubeka ukwandisa. Abanikazi babeya kuba ngcono xa behlawula ininzi yemivuzo njengezihlawulelo, ngokucwangcisa ngokuchanekileyo ishishini kwinqanaba elithile.
- Uzinzileyo kwaye ukhuselekile njani umgca-mali kunye nesitatimende se ngeniso ? Iinkampani ezinoxanduva kufuneka zinezibonelelo ezifanelekileyo zemali ukuze zithathe ixesha lokuxinzezeleka kwezoqoqosho. Ezinye iintlobo zamashishini zifumana ingeniso ephilileyo okanye imbuyekezo efuna ukulawula okukhulu kuneenjini ezahlukeneyo zeemali ezahlukeneyo. Kule shishini, kunokuba yingozi ukupakisha isahlulelo sokuhlawula phezulu kakhulu, ngokukhawuleza. Yinto enye kwinkampani eyahlukeneyo yokufumana umlinganiselo wokuhlawula igalelo kunye nenye into epheleleyo kwinkampani yokudlala imayini yokudlala. Olu hlobo lokugqibela lunokubaluleka kakhulu kwinqanaba lokwahlula, elingabangela ukuba kubakho abatshali bemali abanomvuzo abasebenzisa icebo eliphezulu lokuhlawula.
- Ziziphi iipolisi zokuhlawula igalelo zezinye iinkampani kwicandelo elinye kunye noshishino ? Kungaba nzima ukuphakamisa inkunzi okanye ukutsala abatyalo-mali ukuba unomnotho ofana noontanga bakho kodwa unika isivuno esincinci sehlawulelo .
- Luhlobo luni lwa abatyalo-mali abafake ukuba iqumrhu lifuna ukutsala? Iinkampani ezihlawulela rhoqo kunye nokwanda kwezabelo zivame ukubhenela abacebileyo, abatshali-mali abazinzile. Ukongezelela, isahlulo esinamandla, esinozinzileyo singanika umgangatho osebenzayo kwisitokisini, konke okulinganayo, ngenxa yezinto ezibizwa ngokuba yi-support support; abatyali-mali batyhutyha ekuthengeni kwiqondo apho isivuno salo sabelo siba phezulu, sisenza ukuba sithole ibhidi ngaphezulu xa kuqhathaniswa neenkampani ezingenayo izahlulo ezihlawulayo xa iimarike ezinkulu zihlaselwa mahhala. Ukuze ufunde okungakumbi malunga nale nto, funda ukuba kutheni amaShishini ahlawulayo ahlawulayo atyala ukuwa phantsi kweeMakethe ze-Bear .
- Nguwuphi umthetho werhafu othile okhoyo ngexesha? Ziwaphi na izabelo?
- Ziziphi iimfuno zabanini-zimpahla ezinkulu? Ukhangele inkampani efana neHershey kunye nenxalenye enkulu yesitokisi esipheleleyo i-Hershey Trust ngenzuzo yesikolo kunye nenqanawa eyenziwe nguMilton Hershey kunye nomfazi wayo, kwaye uyaqonda ukuba i-quirk ethile yasePennsylvania umthetho yenza konke akunakwenzeka ukuba kuthembeke ukuthengisa inani elithethileyo lesitokisi, kwaye uyaqonda isizathu sokuba uHershey ahlawule isahlulelo kuzo zonke iinjongo kunye neenjongo. Umnini-shareholder walo oxhomekeke kuloo mali engenayo ukubeka amawaka wabantwana esikolweni; ukuhlawula ukutya nokukhusela.
Inzala ebutyebi-mali enomdla uBenjamin Graham wabhala malunga nokuthambekela kwabalawuli ukuba bafike ngefilosofi zokuhlawula igalelo ezingenangqiqo ezazingenakuthandana nenkqubela yezoqoqosho ezinobuchule, njengokuhlawula i-25% yemvuzo; umfanekiso ongabonakaliyo. Oku kubonakala kwenzeka nakakhulu kunokuba ungalindela.
Enye into enomdla ngokukhethekileyo phakathi kweUnited States kunye ne-United Kingdom yiyofilosofi jikelele ethathwa kumgaqo-nkqubo wokuhlawula umvuzo. E-UK, amashishini amaninzi agcina ukwabelana ngeendleko ngendlela uGraham eya kuvuma ngayo, ukuphatha ukuhlawula ngeminyaka ngeminyaka kwaye ukhangela i-earnings yangoku kunye neemeko zezoqoqosho ngendlela efanayo. Oku kudala ukungabi nantoni kwizinga lezahlulo zeenkampani ezininzi - unokufumana unyaka ozayo nangaphantsi nangona ukuba ishishini, ngokuhamba kwexesha, lenze kakuhle kwaye likhulise isabelo sayo kwi-net-siseko kodwa le nto iya kuba yinto epheleleyo e-United States. Abatyalomali baseMerika balindela kwaye bafuna iinkampani ukuba ziqhube ukunyuswa kwamaxabiso kwindlela eyahlula ngayo ukwahlula kangangokuba abo bathembela kwimali engenayo bangabalelwa kuyo. Oku kuthetha ukuba iinkampani azixhasi ukuhlawula i-dividend ephakamileyo njengoko zinokukwazi ukuzenza kwiminyaka yobudala, mhlawumbi izakhiwo zokulondoloza kunye nokunyuka ngokukhawuleza isabelo ngasinye ngesabelo esicothayo ukugcina irekhodi elimangalisayo lokunyuka kwamaxabiso. Enyanisweni, kweli lizwe sibhiyozela iinkampani eziye zaphakamisa igalelo labo minyaka yonke ngaphandle kokusweleka iminyaka engama-25 okanye ngaphezulu, zibiza ngokuba yi "Dividend Aristocrats". Iinkampani eziphakanyise igalelo zawo ngokubanzi ngesantya kodwa azange zenze njalo ngale ndlela azibandakanyi.
Enye into yokuba abatyali-mali bafanele bajonge ekuhloliseni umgaqo-nkqubo we-dividend yinkcazo yezobugcisa ukuba isahlulelo sokuhlawula iisitokethi kuzo zonke iindawo zithatha ukukhupha i-stock dividend. Kukho izizathu ezininzi zezizathu ezicingelwa ukuba kunjalo, kuquka:
- Izahlulo azikwazi ukucinywa. Inkampani iyahlawula imali okanye ayikho. Oku kubangela ukuba iinkampani zibe nemigaqo-nkqubo yokuhlawula igalelo ephezulu kunomyinge "umgangatho wemvuzo" ngenxa yokunciphisa imali engaphantsi kwemali engenayo ingxelo kwingeniso yengeniso kunye nenzuzo yenkcitho yemali, okanye umvuzo womnini.
- Umgaqo-nkqubo olwabileyo usebenza njengesikhumbuzo esiqhubekayo kubaphathi ukuba ukubuyiselwa kwabanini-mali kubakho kuqala. Iba yinxalenye yenkcubeko; indlela yokwenza izinto ezintle ziveliswe ngabanini.
- Imigaqo-nkqubo yokwabiwa kwemali inefuthe lokunciphisa ixabiso elipheleleyo elifumanekayo kubaphathi ngenjongo yokudibanisa kunye nokufumana. Oku kubangela ukuba abaphathi bakwazi ukukhethwa xa bezama ukuphinda baqhube imali njengemali.
- Ukuxhaswa kwezivuno zezabelo ezixutyushwa ekuqaleni zivumela inkampani ukuba ikhulise imali ngokuthe ngempumelelo nangaphezulu xa kukho amaxesha amanzima ngenxa yengqiqo ekhuselekileyo ngenxa yesikhwama esikhulu sokulingana; Ixabiso lemarike ephakamileyo kunye nexabiso elithile likarhwebo elisebenza njengomthombo woxolo kwengqondo. Oku kuthetha ukuhluthwa kwexabiso elincinci okanye ukunciphisa inzuzo ngenxa yendleko ephezulu yenkcitho xa isibhakabhaka sikhula.
Ulwazi olongezelelweyo kwiSahlulo kunye nokuHlalwa kweMali
Ukufumana ulwazi oluthe vetshe, funda iSikhokelo sethu esigqibeleleyo kwiMida kunye noTyalo-mali .