Xa Ufanele Uthande Amasheya Akhethwa Ngaphezulu Kwabahlali
Iimpahla ezikhethiweyo zihlawula isahlulelo esifana nesitokisi esifanayo.
Ukwahlukana kukuba izitokhethi ezikhethiweyo zihlawula isahlulelo esivumelwaneni ngaso sonke isikhathi. Lo mgangatho ufana nezo zibophelelo. Iimpahla eziqhelekileyo zingahlawula iintlawulo ngokuxhomekeke kwindlela inzuzo yenkampani. Izabelo ezikhethiweyo zamasheya zihlala ziphakamileyo kunezibonelelo eziqhelekileyo zamasheya. Isihlomelo singahlaziywa kwaye sitshintshe kunye neLibor okanye ingaba ngumlinganiselo ochanekileyo ongafaniyo.
Izitokhwe ezikhethiweyo nazo zifana nezibophelelo ukuba uza kufumana iimali-mali zakho zokuqala emva kokuba ugcine ukukhula. Le minyaka i-30 ukuya kwi-40 kwiimeko ezininzi. Ixabiso lentengo eliqhelekileyo lingawela kwi-zero. Ukuba oko kwenzeka, awufumani nto.
Iinkampani ezikhupha izitokhwe ezikhethiweyo ziyakhumbula ngaphambi kokukhula ngokuhlawula intlawulo. Njengama-bhondi kunye nezitshixo ezingafaniyo, amasheya akhethiweyo ayiniki nawuphi na amalungelo okuvota.
Xa Ufanele Uthenge Amasheya Akhethiweyo
Kufuneka uqikelele amasheya akhethwayo xa ufuna umvuzo ongenayo.
Oku kuyinyani ngokukodwa xa izinga lentengo liphantsi. Kungenxa yokuba izabelo ezikhethiweyo zamasheya zihlawula umrhumo ophezulu ophezulu kunamabhondi. Nangona liphantsi, ingeniso iyomelele ngakumbi kunezihlawulelo ze-stock.
Kufuneka uthengise xa amaxabiso enzala aphakama. Oku kungenxa yokuba oko baqala ukulahlekelwa ixabiso. Iinyaniso kunye neentambo.
Umrhumo oqokelelweyo ongeniso luba luncedo oluphantsi kunokuba iirhafu zenzalo ziphakamisa ukubuyiswa kwamanye amatyalo.
Okukhethiweyo nako kunokulahlekelwa xabiso xa kuthengwa amanani esitokisi. Kungenxa yokuba inkampani ingababizela. Kuthetha ukuba bathenga amasheya akhethiweyo emva kwakho ngaphambi kokuba amanani afike naluphi na phezulu.
Iimpahla ezikhethiweyo ngokubhekiselele kwiSitokisi eziqhelekileyo
Le tafile ibonisa umahluko phakathi kweempahla ezikhethiweyo, iimpahla eziqhelekileyo kunye nezibophelelo.
| Isici | Ekhethiweyo | Eziqhelekileyo | Bond |
|---|---|---|---|
| Ubunini beNkampani | Ewe | Ewe | Hayi |
| Amalungelo okuvota | Hayi | Ewe | Hayi |
| Ixabiso loKhuseleko li sekelwe kwi: | U kuzuza | U kuzuza | I S & P Rating |
| Izahlulelo | Zi cwangciswe | Iintlawulo | Zi cwangciswe |
| Ixabiso xa lixhomekeke kuKhula | Epheleleyo | Iintlawulo | Epheleleyo |
| Umyalelo ohlawulwayo xa iNkampani ifezekanga | Isibini | Isithathu | Ekuqaleni |
Iintlobo zeempahla ezikhethiweyo
Impahla ekhethiweyo ye-Convertible inokukhetha ukuguqulwa kwisitokhwe esifanayo ngexesha elizayo. Yintoni eyenza ukuba le nto yenzeka nini? Izinto ezintathu:
- IBhodi yabaPhathi-bhanki inokuvota ukuguqulwa.
- Unokwenza isigqibo sokuguqula. Uza kusebenzisa kuphela olu khetho ukuba ixabiso lesitokisi esifanayo liphezulu kunexabiso elikhoyo elikhoyo lezinto ezikhethiweyo. Ixabiso lexabiso langoku libandakanya iintlawulo zeendleko ezilindelekileyo kunye nexabiso oyifumanayo xa ubomi obukhethiweyo buphelile.
- Isitokhwe sinokuguqulwa ngokuzenzekelayo ngosuku olulungisiweyo .
Izitokhwe ezikhethiweyo ezikhethiweyo zivumela iinkampani ukuba zimise iintlawulo zerhafu xa amaxesha amabi. Kodwa kufuneka bahlawule zonke iintlawulo ezihlawulwayo xa amaxesha aphinda ahle. Enyanisweni, kufuneka benze oku phambi kokuba benze iintlawulo ezihlawulelwayo kubanini-zimpahla abaqhelekileyo. Izitokhwe ezikhethiweyo ngaphandle kwale nzuzo zibizwa ngokuba yii-stocks.
Isitokhethi esikhethiweyo esikhethiweyo sinika inkampani ilungelo lokukhusela isitishi naliphi na ixesha emva komhla othile. Okukhethwa ngokuqhelekileyo kuchaza intlawulo inkampani eya kuhlawula isitokisi. Umhla ohlawulelwayo awuqhelekanga iminyaka embalwa. Ezi zikolo zihlawula isahlulelo esiphezulu sokuhlawula umngcipheko wokuhlawulela owongeziweyo. Ngoba? Inkampani inokubiza umnxeba ukuba ixabiso lentengo liyeke. Bayiza kukhupha iintsha ezikhethiweyo kwizinga eliphantsi, kwaye bahlawule isahlulelo esincinci endaweni yoko.
Oku kuthetha inzuzo encinci kumtyalo-mali.
Kutheni amaNkampani eThengiweyo eThekwini
Iinkampani zisebenzisa iitokhethi ezikhethiweyo ukuphakamisa inkunzi yokukhula. Ikhono lenkampani lokumisa igalelo liyinzuzo enkulu kunamabhondi. Ifuna nje ukuvota kwebhodi. Awugibeli umngcipheko wokugwetyelwa. Ukuba inkampani ayihlawuli umdla kwimibhonkqo yayo, iyafezeka.
Iinkampani zisebenzisa kwakhona amasheya okukhetha ukuhambisa ubunikazi benkampani kwelinye inkampani. Enye into, iinkampani zifumana ukubhalwa kwerhafu kwi-dividend engenayo yamasheya akhethwayo. Enyanisweni, akufanele bahlawule irhafu kwi-80% yokuqala yengeniso efunyenwe kwizabelo. abatyali-mali ngabanye abafumene inzuzo efanayo. Okwesibini, iinkampani ziyakuthengisa iimpahla ezikhethiweyo ezikhawulezileyo kuneempahla eziqhelekileyo . Kungenxa yokuba abanikazi bayazi ukuba baya kuhlawulwa ngaphambi kokuba abanikazi bee-stocks eziqhelekileyo bafumane.
Le nzuzo yokokuba uMgcinimafa wase-United States wathenga izabelo zezitokhwe ezikhethiweyo kwiibhanki njengenxalenye yeNkqubo yokuXhaswa kwee- Asset Trouble . Yayibamba iibhanki ukuze bangayi kubhoxisa. Ngelo xesha, uNondyebo wayefuna ukukhusela urhulumente. Abathengi baya kuhlawulelwa phambi kwabanini-nxaxheba abaqhelekileyo ukuba iibhanki zazingekho phantsi.
Iimpahla ezikhethiweyo zivame ukukhutshwa njengeyokugqibela. Iinkampani zizisebenzisa emva kokuba zifumene konke abakwaziyo ngokukhupha iifowuni eziqhelekileyo kunye nezibophelelo. Kungenxa yokuba izitokhwe ezikhethiweyo zibiza kakhulu kunezibophelelo. Izabelo ezihlawulwa ngamasheya ezikhethiweyo zivela kwingeniso yerhafu emva kwenkampani. Ezi ndleko azixothwanga. Inzala ehlawulwe kwiibhonksi iyancitshiswa irhafu. Oku kuhamba ngokuncinci kwenkampani. (Umthombo: "Amandla eempahla ezikhethiweyo," uMotley Fool, ngo-Ephreli 24, 2001.)