Indlela Ukuhlaziya Ukubuyiswa Kwempahla Ephakamileyo Ingabangela Iingxaki KwiPortfolio yakho
Umdlali onomdla weHockey uWayne Gretzky wachaza imfihlelo yakhe kwimpumelelo xa wathi, "hamba apho ipake iya kuba khona, kungekhona apho." Xa uhlalutya inkampani okanye ukuxhasana ngemali , abaninzi abatyala-mali baya kulungela ukuthobela isiluleko esifanayo. Esikhundleni saloo nto, baxhamla kwizinto eziyaziwayo kwishishini ngokuthi "ukusebenza ngokuxoshelwa." Ngokukhawuleza xa bebona isigaba esichukumisayo seklasi okanye icandelo, bathabatha imali yabo kwezinye iimali-mali kwaye bathululele into entsha yothando lwabo. Isiphumo sihambelana kakhulu nomntu osukela umbane-baya apho sele bahlasele khona kwaye bayazibuza ukuba kutheni baqhubeka behlanganiswa kwizinga eliphantsi lee-return rates ; intlekele ekhutshiswayo ngeendleko zokuxhatshazwa .
Oku akuyona into encinci. Iprojekthi yophando lwe-Morningstar yafumanisa ukuba ngamaxesha apho iimali zengxowa-mali zihlanganiswe kwi-9%, i-10%, i-11%, abatyali-mali abanjalo kuloo mali kuphela benza i-2%, i-3% kunye ne-4%, kuba babehlala bethenga nokuthengisa ngamaxesha angalunganga, ukuvumela iimvakalelo zabo ukuba zilawule kunokuba zithathwe ingqalelo kwixesha elide lotyalo-mali.
Ngokuphathelele kwimiphumo yokwakha ubutyebi , into eyingozi, ngokukodwa xa uyenze ukunyuka kwamaxabiso .
Yintoni eDlulileyo yokuSebenzeka kokuSebenzayo Ukuba ayikwazi ukuqikelela ukubuyiswa kwexesha elizayo?
Njengoko uBenjamin Graham, umnina wexabiso lokutshala imali, ubonisa ukuba, ukusebenza kwangaphambili kuncedo ekubaleni ixabiso le- stock , isibophelelo, isikhwama sokubambisana, okanye enye i-asethi kuphela ukubonisa oko kuza kuza kwikamva ngokubhekiselele kumvuzo womnini okanye ukulingana kwamanqaku omdla .
Ngokomzekelo, kunceda ukwazi indlela i-oil majors eyenze ngayo ngokudlulileyo kwixesha lokunciphisa amaxabiso angcolileyo ngenxa yokuba unokunika ingqiqo ngendlela osebenza ngayo ishishini. Unako ukungena kumantongomane kunye neebhontshi uze ubone into efanayo, yintoni eyahlukileyo, kwaye indlela eya kuchaphazela ngayo ukuhamba kwemali. Kuyavuya ukuba uqaphele ukuba umlinganiselo we- p / e kwiimpahla ze-oyile ziza kubonakala ziphantsi kakhulu xa zibiza kakhulu ngenxa yento eyaziwayo njengengxube yexabiso . Eyona insiza ethile.
Emuva kwangoko-2000, igolide elimnyama lalirhweba nge-$ 10 umgqomo kwaye abahlalutyi abambalwa kakhulu babone phambili ekupheleni kweengxaki zamacandelo ezogesi. Ukususela ngo-2016, imboni yimeko echaseneyo. Amanani e-oyile aphelile, abahlalutyi bamandla bathi kusenokugqibela kuze kube sekupheleni kweminyaka elishumi okanye ngaphezulu, kwaye izitokisi zecandelo ziye zatshatyalaliswa kanzima emva kweminyaka emininzi yokuchuma. Oku kuqhelekileyo kumashishini oli-oyile, kodwa abatyali-mali kaninzi abaziphatha ngendlela efana nayo.
Imibuzo Yokukunceda Uphephe Ukuxosha Ukusebenza Kwangaphambili
Umtyalo-mali unokukhusela njani ngokungena kwiqumrhu elitshisayo, i-fund, isitokisi, okanye i-aseset class, ekhohliswa yinto nje eyenziwa ngokutsha? Nazi imibuzo embalwa ongayifuna ukuzibuza yona inokwazi ukukhusela okungezelelweyo kwiinqununu ezingaphezu kweengqondo:
- Yintoni eyenza ndicinga ukuba i-earnings yale nkampani iya kuba phezulu kwizinto eziphathekayo kwixesha elizayo kunokuba lixesha langoku?
- Ziziphi iingozi kwiingcamango zam zemali ephezulu? Ngaba kunokwenzeka ukuba le miba yengozi iya kuba yinyani ngokwenene?
- Ziziphi izizathu zokuqala zenkampani engaphantsi komsebenzi okanye ngaphezulu kokusebenza? Ukuba kwakungayiphi na into edibaniswa neengxelo ezinobundlobongela, yintoni eyenza uqiniseke ukuba imeko isisombululo esisigxina kwaye ingqibelelo ibuyiselwe kwenkampani? Ukuba kwakuyinkxalabo ethile yoshishino, yintoni eyenza ucinge ukuba uqoqosho oluya phambili luyahluka? (Ukutshintshwa kwoshishino akunakunqabile, nangona kwenzeka ntoni - akuyona ingozi eyona nto inobungakanani obugcinwe ngayo kwiizizukulwana ezimbalwa ezedlulileyo ziye zagxininiswa ngokungafaniyo kumashishini ambalwa.) Ukuxhaswa kwexeshana kunye nesimo semfuno? Iindleko zokufaka ezantsi?
- Ingaba le candelo, imboni, okanye i-stock, sele ikhula ngokukhawuleza kwintengo kwimbali yakutshanje? Ukwazi umgaqo-xabiso obalaseleyo, ngaba oku kusenza utyalo-mali lukhangele? Ngaba nethuba lokufumana umvuzo ongcono sele sele lithengwa kwixabiso elikhuselekileyo xa ukhangela iimetriki zemveli ezifana nomlinganiselo we-PEG ohlawulelweyo ?
- Ngaba ndenza le nto yokufumana okanye isimo esisekelwe kuxabiso, ukuthengwa ngendlela efanelekileyo okanye ixesha lokuthengisa?
- Ukuba bekukho ukuphambuka okuphawulekayo kwintetho kuyo nayiphi na ingqiqo enkulu - amanqanaba okulinganisa, amanqanaba okufumana imali, isivuno sokwahlula, okanye nayiphi na - yintoni eyenza ndicinga ukuba akuyi kubakho ukubuyisela kwintetho? Ndiyazi njani ukuba le nto "yinto evamile"? Ndiyazi njani ukuba ndikhangele inkampani yemoto emva kokuhla kweebhiza kunye nabakhi beebhanki kwaye kungekhona idijethi yamajethi enandipha inzuzo ephakamileyo kwiminyaka yokuqhafaza eya kuhla, njengento eqhelekileyo, ngexesha lokufuduka?
Ngamanye amazwi, imfihlelo emva kokuphutha ukusebenza kwexesha elidlulileyo kwiziphumo ezizayo, yayazi ukuba ngokuyininzi ihla kwi-flow flow flows. Ukuba uyayiqonda indlela ukuveliswa kwemali kuveliswa ngayo, yintoni ebenzelayo, ngokukhawuleza kangakanani ukuba bayakhula kwixesha elizayo, kwaye kubaluleke kangakanani ukulingana okubonakalayo ukuze kuveliswe, unako ukusebenzela abanye ngokuqhelekileyo kunoko.