Funda ukuba kutheni i-Stocks iba ngaphezulu / iphantsi kwexabiso
Uphi umehluko? Umtyalomali ngumntu ohlalutya ngokukodwa inkampani, enquma ngokuthe ngqo oko kukufanelekileyo, kwaye akayi kuthenga intengiso ngaphandle kokuba ithengise kwisaphulelo esikhulu kwixabiso langaphakathi .
Bayakwazi ukusho, umzekelo, ukuba "Inkampani 'X' ithengisa i - $ 48 ngesabelo ngasinye, kodwa ixabisa i-$ 62 isabelo ngasinye." Benza izigqibo zabo zotyalo-mali ngokusekelwe kwi-data yangempela kwaye abavumeli iimvakalelo zabo ukuba zibandakanyeke. I-speculator ngumntu othenga isitoreli esinye isizathu.
Ngokuqhelekileyo, baya kuthenga amashishini kwinkampani kuba "kudlalwa" (enye enye indlela yokuthi isitokisi sinokuphakama ngaphezu kwevolumu evamile kwaye izabelo zayo ziyakuthengiswa okanye zithengiswe ngamaziko). Bathengisa isitotho kungeko ngokuhlalutya ngokucophelela, kodwa ngeli thuba, liya kuvela kuyo nayiphi na isizathu ngaphandle kokuqatshelwa kwezinto ezisisiseko.
Ukucacisa ngokwayo akusiyo imfuneko, kodwa abathathi-nxaxheba kufuneka bazimisele ngokupheleleyo ukuba bamkele ukuba babeka inqununu yabo inqununu. Nangona iyakwenza inzuzo ngexesha elifutshane (ngokukodwa ngexesha leemarike zeenkomo), kunqabile kakhulu ukubonelela ngemali yengeniso epheleleyo okanye ibuyiselo.
Kufuneka kushiywe kuphela kulabo abanokukwazi ukulahlekelwa yiyo yonke into abayibeke kuyo.
Ziziphi iindlela ezimbini ezihlukeneyo zomsebenzi ezichaphazela intengo yamasheya? I-speculator iya kuqhuba amaxabiso ngokugqithisa, ngelixa umtyalomali (othe wathengisa xa umthengisi ethengayo kwaye uthengi xa umthengisi ethengisa) uphume ngaphandle kweemarike, ngoko ke, ekuhambeni kwexesha, amanani amasheya abonisa ixabiso eliphantsi leenkampani.
Ukuba wonke umntu owathengayo amasitya afanayo wayengumtyalo-zimali, imarike ngokubanzi iya kuziphatha ngokubanzi kunokwenza. Amasheya aya kuthengwa kwaye athengiswe ngokubaluleka kwishishini. Ukunyuka kwexabiso lomhlaba kwakuza kwenzeka ngokuncinci kangangoko kuba kungekudala ukuba ukhuseleko lubonakala lungabalulekanga, abatyali-mali baya kuthenga, ukuqhuba ixabiso ukuya kumazinga anengqiqo.
Xa inkampani yagqitywa, yayingathengiswa ngokukhawuleza. Abaxeli, ngakwelinye icala, ngaba abo banceda ukudala ukungabi nantoni kwintengiso-mali . Ekubeni bathenga amasheya asekelwe ngamanye amaxesha ngokungaphantsi kwexesha, bayakwazi ukuthengisa ngokufanayo.
Oku kukukhokelela kwiimpahla ezinokubaluleka kakhulu xa wonke umntu enomdla kwaye engenakulinganiswa ngokungabikho xa ephuma ngaphandle. Ukuziphatha ngokunyamezela komntu kudala ithuba lokuba sikhethe iinkampani ezithengisa ngaphantsi kunokuba zifanelekile.
Oku kukhokelela kwinkolelo ebalulekileyo phakathi kwexabiso lokutyalo-mali ukuba nangona i-market market, ngexesha elifutshane, lihamba ngokusuka kwizinto ezisemgangathweni zoshishino, kwixesha elide izinto ezisisiseko zizo zonke izinto. Esi sisiseko segama likaBen Graham owaziwayo "Kwixesha elifutshane, imarike ngumatshini wokuvota, kwixesha elide, elincinci."
Ngokudabukisayo, abanye bayayichitha le mgaqo-siseko weemarike zamasheya. Ezinyangeni ezimbalwa ezedlule, ndafumana i-imeyile evela kumfundi oye wathi "iingundoqo zezoqoqosho zenkampani azihambelani nexabiso lentengo." Oku ku buxoki. Impendulo yam yayingumyalezo olula othi "Ukuba izinto ezisemgangathweni azikhathazeki, kuthekani ukuba i-Coca-Cola ayithenganga enye ibhotile ye Coke? Ucinga ukuba ixesha elide liza kuhlala lihlala ngaphi?"
Xa kufakwe kulo mboniso, ububuwula "obubalulekileyo abukhathazeki" bubonakala. Ngexesha elizayo xa umntu efundisa le nto, mane ubuze "kwenzekani kwisitokisi ukuba inkampani ayikwazi ukwenza iintlawulo kunye nokungafezeki kwimiboleko yayo?" Xa bephendula "kuya kuphazamiseka", mane umomothe uze uhambe. Izinto ezisemgangathweni zibalulekile.
Ngelishwa, abatyali-mali abaninzi bakholelwa inkolelo-mfana lo mfana.
Umzekelo ogqityileyo weli yi-dot-com boom ekupheleni kwee-1990. Iinkampani ezingenzi nzuzo kwaye zincinci kakhulu, ukuba zikhona, ixabiso leencwadi lithengisa kumazinga eenkwenkwezi. "Ngokuqinisekileyo oku kuya kubonisa ukuba izinto ezingundoqo azikho nto," abanye bathi
Ngokuchasene noko, iqinisekisa ingcamango yethu ngokupheleleyo. Iminyaka embalwa nje emfutshane emva kokuqala kwe-stock bonase market, i-realities yezoqoqosho ezi nkampani zibuye ziza kubakhokelela. Uninzi lwawa ngamaphesenti angama-90 okanye ngaphezulu ukusuka kwiindawo eziphakamileyo, kwaye abaninzi banokubhankqalaza, ekugqibeleni banelungelo elingaphantsi kwiphepha labo izitifiketi zabo zezithuthi eziprintiweyo.
Eli phepha liyingxenye yoTyalo-mali lwesifundo sesi-2 - Yintoni eyenza ukuba iiShishini zibe ngaphaya okanye ziphantsi kwexabiso .