1. Mhedziso yeKukosha Kwekudyara
Value investing inomira sekudyara kwakaedzwa nguva nzira iyo inotarisa pakutsvaga mumatanda izvo zvisingakosheswi nemusika. Iyi nzira, yakatangwa nevashambadziri vane mukurumbira, inosimbisa kutenga masheya nemutengo wakaderera pane yavo yemukati kukosha, kuabata kusvika asvika pakugona kwavo kuzere. Iri zano rakafarirwa nekuda kwemaitiro ayo ekuchengetedza asi ane mubairo, kukwezva vatengesi vanoisa pamberi kugadzikana kwenguva refu uye kukura pane kukurumidza kuwana.
1.1 Chii chinonzi Value Investing?
Value investing inzira yekudyara yakanangana nekutenga zvibatiso zvinoita sezvisina kukosheswa zvichienzaniswa nekukosha kwazvo. Kusiyana nekukura kwekudyara, iyo inotarisana nemasheya ane yakakura kukura inogona, kukosha kwekudyara zvinangwa makambani wokutengesera pasi pekukosha kwavo kwechokwadi, kazhinji nekuda kwekusashanda kwemusika, kuderera kwehupfumi, kana manzwiro asina kunaka emusika. Kuburikidza nekunyatsoongorora, vatengesi vanokoshesa vanotsvaga kuona masheya aya asina kukosha, achiisa mari pane zvingave zvekugadzirisa mutengo nekufamba kwenguva. Iyi nzira inopa nzira inochengetedza asi inogona kuita mari kune vanoisa mari vane chinangwa chekuwedzera kudzoka nekumirira nemoyo murefu kuti musika uone kukosha kweiyo stock.
1.2 Misimboti Yakakosha Yekudyara Kukosha
Kukosha kwekudyara kwakadzika midzi mune mashoma mashoma misimboti inoumba nzira yayo yakasarudzika yekuvaka portfolio uye kusarudzwa kwemasheya. Kutanga ndiyo musimboti we kukosha kwemukati, iyo inosimbisa kuongorora kukosha kwechokwadi kwemasheya kuburikidza nekuongorora kwakadzama kwemari, kuparadzanisa kukosha kwekambani kubva pamusika hype. Imwe nheyo yakakosha ndeye margin yekuchengeteka, kuve nechokwadi chekuti mari inoitwa chete kana mutengo wemasheya uchipa yakakosha buffer pazasi peinofungidzirwa kukosha kwemukati. Uyezve, moyo murefu chinhu chakakosha mukudyara kukosha, sezvo zano rinotsamira pakubata masheya asina kukosha kwenguva yakareba kusvika musika wanyatso kuratidza kukosha kwavo. Pakupedzisira, chirango inoita basa rakakosha, richida kuti vanoisa mari vatevedzere kune dzakaomarara maitiro uye vadzivise kuita sarudzo yepfungwa mukushanduka-shanduka. misika.
1.3 Nei Kukosha Kuisa Mari?
Kukosha kwekudyara kunokwezva kune avo vanosarudza nzira yemaitiro ekuwana kudzoka kwenguva refu. Kutarisa kwaro pamasheya asina kukosha kunoderedza mukana wekubhadhara zvakanyanya, izvo zvinogona kudzivirira vanoisa mari panguva yekusagadzikana kwemusika. Iri zano rine nhoroondo yekuunza kudzoka kwakagadzikana uye kwakavimbika, nevamiriri vayo vane mukurumbira-kusanganisira Warren Buffett naBenjamin Graham - zvichiratidza kuti budiriro inowirirana inogona kuitwa pasina njodzi dzinofungidzira. Value investing inonyanya kushambadzavantageous munguva dzekuderera kwehupfumi, uko makambani akatsiga, asingakosheswi anowanzo kutsungirira uye kupora zviri nani pane zvekufungidzira zvakanyanya. Iyi nzira haingopi mibairo yemari chete asi zvakare inokudziridza yakarongeka yekudyara pfungwa, ichiita kuti ive yakanakira vanoisa mari vanoisa pamberi pekukura kwakasimba pane izvo zvinongowana.
| muduku | tsananguro |
|---|---|
| Chii chinonzi Value Investing? | Strategy yakanangana nekutenga masheya asina kukosha uye kubata kusvika asvika kukosha kwemukati. |
| Nheyo Dzakakosha | Kukosha kwemukati, muganho wekuchengetedza, moyo murefu, uye kuranga munzira yekudyara. |
| Sei Kukosha Kuisa Mari? | Kudzoka kwenguva refu, njodzi dzakaderedzwa panguva Misika kusagadzikana, chirango pamusoro pefungidziro. |
2. Kunzwisisa Kukosha Kuisa Mazano
Kuti kukosha kwekudyara mari kubudirire, kunzwisisa zvakakosha zvirevo zvakakosha. Aya mazano anobvumira vanoisa mari kuti vaone kukosha kwestock kupfuura mutengo wayo wemusika, vachipa ruzivo rwekutanga runodiwa kuita sarudzo dzekudyara zvine ruzivo. Nokuongorora zvinhu zvakadai sehukoshi hwemukati, muganhu wekuchengeteka, uye maitiro akasiyana-siyana ekuenzanisa, vatengesi vanogona kunyatsoona masheya asina kukoshesa uye akakodzera kuiswa muchikwata chinotungamirirwa nemutengo.
2.1 Intrinsic Value vs. Mutengo Wemusika
Intrinsic value ndiyo inofungidzirwa yechokwadi kukosha kwestock, yakaverengerwa kuburikidza fundamental analysis yemidziyo yekambani, mari inogona kuwanikwa, uye tarisiro yekukura. Uhu hwemukati hunokosha hunowanzo siyana nemutengo wemusika, uyo unochinja zvichienderana nemanzwiro emudyaridzi, mamiriro ehupfumi, uye musika. Maitiro. Kune mutengi wekukosha, chinangwa ndechekuziva masheya ayo mutengo wemusika wakaderera pane iwo emukati kukosha, zvichiratidza mukana wekutenda apo musika unogadzirisa kusarongeka uku. Uyu mukaha uripo pakati pekukosha kwemukati uye mutengo wemusika unobvumira vanoisa mari kutenga zvinhu zvisingakosheswe zvinobata mukana wenguva refu.
2.2 Kumucheto Kwekuchengetedza
Muganho wechengetedzo ipfungwa yekona mukukosha kwekudyara, inomiririra buffer pakati peiyo stock kukosha kwemukati nemutengo wayo wemusika. Paunenge uchitenga masheya, vatengesi vanokoshesa vanotsvaga muganho wekuchengetedza kuti vaderedze kurasikirwa kungangoita kana stock ikasaita sezvaitarisirwa. Semuenzaniso, kana mutengo wemukati westock wakatemwa kuva $100 asi ikozvino uri kutengeserana pamadhora makumi manomwe, iyo $70 musiyano unoshanda semuganhu wechengetedzo. Iyi nheyo inodzivirira kubva kune zvisiri izvo mukukosheswa uye musika kukanganisa, ichipa imwezve chengetedzo mukati meiyo kukosha-inofambiswa nekudyara zano.
2.3 Yakaderedzwa Cash Flow (DCF) Ongororo
Discounted Cash Flow (DCF) ongororo inzira inoshandiswa nevakawanda yekukoshera mukati mekudyara kukosha, inotarisa kuyerera kwekambani mune ramangwana uye kukosha kwazvino kweiyo inotarisirwa mihoro. Ongororo iyi inoverengera kukosha kwemukati nekufungidzira mafambiro emari mune ramangwana, wozodzikisira kune yazvino kukosha uchishandisa mutengo wekuderedzwa. Iyo DCF modhi inoda fungidziro pamusoro pemari yeramangwana, mari, kukura, uye mamiriro ehupfumi, zvichiita kuti ive yakazara asi ichivimba nekufungidzira chaiko. Nekuenzanisa iyo yakaverengerwa kukosha kwemukati nemutengo wemusika, vatengesi vanogona kuyera kana stock haina kukosheswa uye yakakodzera kudyara.
2.4 Dividend Discount Model (DDM)
Iyo Dividend Discount Model (DDM) imwe nzira yekukoshesa inofarirwa nevanoisa mari, kunyanya kumakambani anobhadhara mugove. DDM inofungidzira kukosha kwemasheya zvichienderana neukoshi hwazvino hwemigove yeramangwana inotarisirwa. Iyi modhi inofunga kuti mibairo icharamba ichikura pamwero unowirirana, zvichiita kuti ive yakakosha kumakambani akagadzikana, akakura ane nhoroondo dzakavimbika dzekugovera. Nekuongorora kuyerera kwezvikamu zvemasheya zvinotarisirwa kubhadhara, kukosha kwevatengesi vanogona kuona kana mutengo wemari uchipa mukana wakanaka wekutenga maererano nekukosha kwayo kwemukati.
2.5 Kuenzanisa Kuenzanisa
Kuenzanisa kukosha, kunozivikanwawo sekukosha kwehuwandu, kunosanganisira kuongorora kukosha kwestock nekuienzanisa nemakambani akafanana mukati meindasitiri imwechete. Zviyero zvakajairika pakukosheswa kwekuenzanisa zvinosanganisira reshiyo yemutengo-kune-muhoro (P/E), mutengo-kubhuku (P/B) reshiyo, uye chiyero chemutengo-kune-kutengesa (P/S). Nekuongorora ma metrics aya, vanoisa mari vanokoshesa vanogona kuona masheya ari kutengeserana pazasi maavhareji eindasitiri kana mabenchmarks evezera, zvichiratidza zvingangoitika. Kuenzanisa kwekuenzanisa kunopa mufananidzo wechimiro chestock mukati mechikamu chayo, zvichiita kuti vatengesi vaone mikana yekudyara zvichienderana nekuenzanisa kwemusika.
2.6 Mamwe Matekiniki Ekukoshesa
Pamusoro pemaitiro echinyakare, vanoisa mari vanokoshesa vanogona kushandisa humwe hunyanzvi hwekuyeresa matekiniki kuti vafukure mikana yekudyara. Dzimwe dzenzira idzi dzinosanganisira kushandiswa kwemari yekuwana simba (EPV), iyo inofungidzira mari inobatika yekambani, uye kukosha kwekuvharwa kwemari, iyo inoongorora kukosha kwemari yemidziyo yekambani kana yakavharwa. Aya mamwe maitiro ekuyeresa anopa mamwe maonero, achibatsira vatengesi kuona masheya asina kukosha zvichienderana nemakona emari akasiyana. Kunyange zvisinga shandiswe zvakanyanya seDCF kana DDM, nzira idzi dzinogona kutsigira kukosha kwekushandisa mariri, ichiwedzera kudzika uye kuchinjika kune iyo kukosha maitiro.
| muduku | tsananguro |
|---|---|
| Intrinsic Value vs. Mutengo Wemusika | Inosiyanisa pakati peiyo chaiyo kukosha kwestock nemutengo wayo wemusika wezvino, kuratidza mikana yekudyara. |
| Margin of Safety | Inopa buffer pakati pekukosha kwemukati uye mutengo wemusika, kuderedza ngozi uye kudzivirira kubva pakurasikirwa. |
| Yakaderedzwa Cash Flow (DCF) Analysis | Inofungidzira kukosha kwemukati nekuverenga kukosha kwazvino kwezvinotarisirwa kuyerera kwemari mune ramangwana. |
| Dividend Discount Model (DDM) | Values a stock yakavakirwa pane zvinotarisirwa kugovewa mune ramangwana, inobatsira pakuongorora makambani anobhadhara dividend. |
| Kuenzanisa Valuation | Inoshandisa kuenzanisa kwemaindasitiri kuti iongorore kusakosha kwemari yemasheya zvichienderana nemabhenji evezera. |
| Mamwe Matekiniki Ekukoshesa | Inosanganisira EPV, kukosha kwekumisikidza, uye dzimwe nzira dzenzira yakazara yekuyera. |
3. Kuziva Mastock Asingakoshesi
Kuziva masheya asina kukosha ndiwo musimboti wekukosha kwekudyara, uko vanoisa mari vachitsvaga mikana iyo musika usati waziva. Kuita uku kunoda kuongororwa kwakadzama kwezvinokosha zvekambani, zvinyorwa zvemari, uye zvemhando yepamusoro kuti zvione kana mutengo wemusika wemusika uri pazasi kukosha kwayo kwemukati. Nekutarisa pane idzi nzira dzekuongorora dzakakosha, vanoisa mari vanokoshesa vanogona kusarudza masheya ane akakosha ekumusoro anogona uku achideredza njodzi.
3.1 Kuongorora kwakakosha
Ongororo yakakosha inzira yekuongorora mabatiro ebhizinesi ekambani, senge mari, mihoro, midziyo, uye zvikwereti, kuona hutano hwemari uye kukosha kwemukati. Iyi mhando yekuongorora inodarika mafambiro emusika uye pachinzvimbo ichisimbisa kukosha kweiyo stock zvichienderana neinoyerika data data. Nekudzidza mataurirwo emari, chinzvimbo cheindasitiri, manejimendi emhando, uye hupfumi hwakazara, vanoisa mari vanogona kuongorora kana stock isingakosheswe. Kuongorora kwakakosha kunoshanda sechishandiso chine simba, chinoshongedza vanoisa mari neruzivo rwunodiwa kuita sarudzo dzekudyara zvine ruzivo zvichienderana nekuita kwekambani chaiko uye mukana wekukura.
3.2 Kuongorora Kwemari Yemari
Financial statement analysis chinhu chakakosha chekudyara kukosha, uko vanoisa mari vanoongorora magwaro akakosha emari ekambani-kunyanya chirevo chemari, bereti, uye chirevo chekuyerera kwemari. Chirevo chemari chinoratidza kubatsira kwekambani uye kukura kwemari, pepa remari rinopa ruzivo rwemhando yeasset uye zvikwereti, uye chirevo chekuyerera kwemari chinoongorora magadzirirwo emari uye kushanda nesimba. Pamwe chete, zvirevo izvi zvinopa maonero akazara emamiriro emari ekambani. Nekunyatsoongorora magwaro aya, kukosha kwevanoisa mari vanogona kuona zviratidzo zvekusakosheswa, senge kukura kwemari kunoenderana nemutengo wemasheya usingaratidzi kugona kwekambani.
3.3 Ratio Analysis
Ongororo yereshiyo inozadzisa ongororo yechishumo chemari nekushandisa mametric chaiwo kuongorora mafambisirwo emari ekambani. Zviyero zvakakosha zvinoshandiswa mukukosha kwekudyara zvinosanganisira mutengo-kune-mubairo (P/E) chiyero, iyo inoenzanisa mutengo wemusika wekambani kune yainowana pachikamu, uye mutengo-kubhuku (P/B) chiyero, iyo inoongorora masheya. mutengo unoenderana nemutengo weasethi wekambani. Zvimwe zviyero zvakakosha, zvakadai sereshiyo yemazuva ano, chikwereti-ku-equity ratio, uye kudzoka pakuenzanisa, zvinopa humwe ruzivo rwehutano hwekushanda kwekambani uye kugadzikana kwemari. Ratio ongororo inobvumira vanoisa mari kuti vakurumidze kuyera kukosha kwekambani maererano nemabhenji emaindasitiri, zvichiita kuti zvive nyore kuona masheya asina kukosha ane tarisiro yakanaka yekukura.
3.4 Hunhu Hunhu
Kunyange kuongororwa kwehuwandu kwakakosha, hunhu hunoita basa rakakosha zvakaenzana pakuona masheya asina kukosha. Zvinhu izvi zvinosanganisira zvinhu zvakaita semabatiro ekambani, mukurumbira wemhando, chinzvimbo chemakwikwi mukati meindasitiri, uye mukana wekuvandudza. Chikwata chinotariswa zvakanaka manejimendi chine nhoroondo yekuita sarudzo zvine hungwaru chinogona kukanganisa zvakanyanya kubudirira kwekambani kwenguva refu. Pamusoro pezvo, makambani ane yakasimba brand equity kana yakasarudzika yemakwikwi advantages kazhinji akaiswa nani kuti arambe achikura. Nekuongorora izvi zvemhando yepamusoro, vanoisa mari vanokoshesa vanogona kuwana nzwisiso yakazara yekugona kwekambani, kuve nechokwadi chekuti sarudzo yavo yekudyara inotora data rinoyerika uye simba rekambani remukati.
3.5 Kuongorora masheya
Stock screening chishandiso chinobatsira vanoisa mari kusefa mikana yekudyara inoenderana neyakafanotsanangurwa maitiro. Uchishandisa stock screeners, vanokoshesa vanoisa mari vanogona kuisa mametric chaiwo-akadai seyero yakaderera yeP/E, goho remugove wepamusoro, kana chizvarwa chakasimba chekuyerera kwemari-kudzikisa pasi runyoro rwemasheya asina kukosha. Kuongorora kunobvumira vanoisa mari kuti vakurumidze kuona masheya anosangana nezvinodiwa zvakakosha zvemutengo wekudyara zano, zvichiita kuti vatarise tsvakiridzo yavo kumakambani ane mukana wepamusoro wekupa kudzoka kwenguva refu. Nepo kuongorora kunongova danho rekutanga pakuongorora, kunopa nzira inoshanda yekutsvaga masheya ayo anogona kubvumidza kuti uwedzere kuongororwa kwakadzama.
| muduku | tsananguro |
|---|---|
| chinokosha Analysis | Inoongorora kukosha kwemari metrics yekambani kuona kukosha kwayo kwemukati uye kugona kukura. |
| Financial Statement Analysis | Inoongorora zvirevo zvemari, mashizha emari, uye zvirevo zvekuyerera kwemari kuongorora hutano hwemari. |
| Ratio Analysis | Inoshandisa zviyero zvemari seP/E uye P/B kukurumidza kuongorora kukosha kwekambani nekugadzikana. |
| Qualitative Factors | Inofunga zvisingaverengeki zvinhu senge manejimendi mhando, simba remhando, uye chinzvimbo chemakwikwi. |
| Kuongorora Stocks | Inoshandisa stock screeners kusefa masheya asina kukosheswa zvichibva pane chaiwo maitiro ekudyara. |
4. Kuvaka A Value Investing Portfolio
Kugadzira kukosha kwekudyara portfolio kunosanganisira zvinopfuura kungotora masheya asina kukosha; zvinoda kunyatsoronga, diversification, kugoverwa kweasset, uye periodic rebalancing. Iyo portfolio yakanyatsovakwa inopindirana nekushivirira kwemudyaridzi njodzi, nguva yekutarisa, uye zvinangwa zvemari, kuve nechokwadi kuti kusarudzwa kwezvicherwa zvisingakoshi zvinogona kushanda pamwe chete kuti zvive nekudzoka kwakagadzikana, kwenguva refu. Nekutora nzira yakarongeka yekuvaka portfolio, kukosha vanoisa mari vanogona kugadzira hwaro hwakasimba hwekukura kwakasimba.
4.1 Kuvaka Portfolio
Kuvakwa kwePortfolio inzira yekusarudza nekubatanidza mari yekudyara kuti igadzire yakaenzana uye yakasiyana-siyana portfolio. Mukudyara kukosha, kuvaka portfolio kunowanzo kunotanga nekuzivisa masheya anosangana neakaomesesa maitiro ekukosha kwemukati uye kugona kukura. Kana zvangosarudzwa, masheya aya anoyerwa mukati mepodfolio zvichienderana nezvinhu zvakaita senge inotarisirwa kudzoka, nhanho yengozi, uye zano rose remuisiri. Kuvakwa kwePortfolio kune chinangwa chekuenzanisa pakati pekugona kukura uye kugadzikana, kuve nechokwadi chekuti munhu anodyara mari tsigira Zvinangwa zvakakura zvepodfolio. Kune vanoisa mari yakakosha, kuvaka portfolio yakavakirwa pakuchengetedza kukosha uye yakasimba yakakosha kunobatsira kudzikisira njodzi dzine chekuita nekusagadzikana kwemusika.
4.2 Kusiyanisa
Diversification chinhu chakakosha cheiyo kukosha kwekudyara portfolio, inobatsira kudzikisa njodzi nekuparadzira mari muzvikamu zvakasiyana, maindasitiri, uye makirasi emidziyo. Nekudyara mune dzakasiyana siyana masheya asina kukosha, kukosha kwevanoisa mari vanogona kuderedza kukanganiswa kwechero imwe chete stock kusashanda zvakanaka pane yese portfolio. Diversification hairevi kuisa mari muzvikamu zvisina hukama chete; zvinogona zvakare kureva kuenzanisa masheya ane akasiyana engozi profiles uye tarisiro yekukura. Mumamiriro ezvinhu ekudyara kukosha, portfolio yakasiyana inogona kusanganisira masheya ane madhigirii akasiyana ekusakosheswa, imwe neimwe yakasarudzwa nekuda kwekugona kwayo kubatsira mukukura kwakadzikama uye kusimba mukutarisana nekushanduka kwemusika.
4.3 Kugoverwa kweAsset
Asset allocation inzira yekugovanisa portfolio pakati pezvikamu zvakasiyana zveasset, zvakaita semasheya, zvisungo, uye mari. Kune vanoisa mari, kugoverwa kweasset kunowanzosimbisa masheya, kunyanya ayo anoonekwa seasingakosheswi. Nekudaro, zvichienderana nekushivirira kwenjodzi yemunhu uye zvinangwa zvemari, kugoverwa kunogona kusanganisira zvimwe zvinhu senge mabhondi kana musha mari kuwedzera kugadzikana. Iyo chaiyo asset yekugovera zano inogona kubatsira kukosha investor kuenzanisa kukura kunogona na kutarisira ngozi. Iyo inotariswa zvakanaka yekugovewa kweasset nzira inoyananisa iyo portfolio nezvinangwa zvemuridzi, ichipa chimiro chinotsigira kukoshesa kukosha kwenguva refu uku ichidzivirira kubva pakuderera mune chero kirasi imwe chete yeasset.
4.4 Kuenzanisazve
Rebalancing ndiko kugadziridzwa nguva nenguva kwepotfolio kuti ichengetedze nzira yayo yekutanga yekugovera. Nekufamba kwenguva, kumwe kuisirwa mari mukati mepodfolio kunogona kudarika kana kusashanda zvakanaka, zvichitungamira kukuchinja kwezviyereso zveasset zvinogona kuwedzera njodzi. Semuenzaniso, kana mashoma mashoma emasheya ari mupotfolio achikoshesa zvakanyanya, anogona kumiririra chikamu chikuru chepodfolio pane yaitarisirwa. Rebalancing inova nechokwadi chekuti portfolio inoramba yakabatana neiyo investor kushivirira njodzi uye zvinangwa nekudzoreredza kwekutanga kugoverwa kweasset. Iyi nzira inonyanya kukosha mukudyara kwekukosha, uko kudzoka kwakafanana kunowanzo kuwanikwa kuburikidza nekuchengetedza nzira yakarongeka yekugovera midziyo uye kuderedza kuwedzeredza kune yega masheya.
| muduku | tsananguro |
|---|---|
| Portfolio Kuvaka | Inosanganisira kusarudza uye kuyera masheya asina kukosha kuenzanisa kukura uye kugadzikana mukati mepodfolio. |
| Diversification | Inoparadzira mari muzvikamu zvakasiyana uye nhoroondo dzenjodzi kuderedza kukanganiswa kwekuita kwakashata. |
| Chakanaka yavaive | Inogovera mari pakati pezvikamu zveasset kuti ienderane nekushivirira kwenjodzi uye zvinangwa zvemari. |
| Realancing | Periodic kugadzirisa kuchengetedza kugoverwa kwepakutanga, kuve nechokwadi chekuenderana nehurongwa hwekudyara. |
5. Implementing Value-Investing Strategies
Kuita chirongwa chekudyara kukosha kunosanganisira zvinopfuura kungoziva masheya asina kukosha; zvinoda kuisa zvinangwa zvekutsvaga zvakajeka, kugadzira chirongwa chakarongeka, kuita trades nemazvo, kutarisisa iyo portfolio, nekuchengetedza hunhu hwepfungwa. Iyi nzira yehungwaru inovimbisa kuti investor anoramba akazvipira kune yavo kukosha-based philosophy uye anogona kuita sarudzo dzine ruzivo dzinotsigira kukura kwemari kwenguva refu.
5.1 Kuisa Zvinangwa Zvekudyara
Kuisa zvibodzwa zvekudyara zvakajeka ndiyo danho rekutanga mukuita chirongwa chekudyara kukosha. Zvinangwa izvi zvinofanirwa kuenderana nezvinangwa zvemari zvemudzvanyiriri, kushivirira kwenjodzi, uye nguva yenguva. Kunyangwe chinangwa chekuwana mari yakadzikama, kukoshesa mari, kana musanganiswa wezvose zviri zviviri, kutsanangura zvinangwa izvi kunobatsira kuumba nzira yekusarudza masheya uye manejimendi epotfolio. Semuenzaniso, investor akatarisa pa kuchengetedza mari inogona kukoshesa masheya ane mihoro yakagadzikana uye yakaderera kusimba, nepo imwe yakatarisana nekukura inogona kutsvaga masheya ane akakosha kumusoro. Kugadzira zvibodzwa kunopa hwaro hwekuita sarudzo dzinoenderana uye dzinotungamirwa nechinangwa chekudyara.
5.2 Kugadzira chirongwa chekudyara mari
Chirongwa chekudyara chinotsanangura matanho chaiwo uye maitiro achashandiswa nemushambadzi kuti azadzise zvinangwa zvavo zvekuisa mari. Ichi chirongwa chinowanzo sanganisira nhungamiro yekusarudzwa kwemasheya, maitiro ekuona masheya asina kukosheswa, uye hurongwa hwekuvaka portfolio. Kugadzira chirongwa chekudyara kunovimbisa kuti sarudzo yega yega yakavakirwa pagwara rakajeka pane kumhanyisa kuita kwemusika. Urongwa uhwu hunogonawo kusanganisira maitiro ekutenga kana kutengesa masheya, zvichibva pane zviratidzi senge kukosha kwemukati, muganho wekuchengetedza, kana kushanduka kwemitengo. Nekutevera hurongwa hwakarongeka, vanoisa mari vanokoshesa vanogona kuramba vakatarisa pazvinangwa zvenguva refu, kunyangwe mumamiriro emusika asina kusimba.
5.3 Kuita Chirongwa
Kuita chirongwa chekudyara kunoda nzira yakarongeka yekutenga nekutengesa masheya mukuenderana neyakafanotaurwa maitiro. Value investimendi vanowanzo tora nzira yemurwere, vachimirira mikana yekutenga yakakodzera apo mitengo yemasheya inowira pasi pehukoshi hwavo hwemukati, ichipa muganho wakakwana wekuchengeteka. Saizvozvo, kuuraya kunosanganisira kudzivirira masheya ayo, kunyangwe akakurumbira kana mafambiro, asingasangane neyakaomesesa miyero yekukosha kwemukati. Uku kuuraya kwakarangwa kunobvumira vanoisa mari kuti vavake portfolio inoramba iri yechokwadi kune kukosha-kudyara huzivi, vachitarisa pamasheya ane hunhu hwakanaka pane kukundwa nemusika hype.
5.4 Kuongorora nekugadzirisa
Kana iyo portfolio ichinge yasimbiswa, kuenderera mberi kwekutarisa kwakakosha kuti uve nechokwadi chekuti masheya akasarudzwa anoramba achizadzisa maitiro ekudyara kukosha. Maitiro aya anosanganisira kuteedzera mashandiro estock yega yega, hutano hwemari, uye chero shanduko mumamiriro emusika kana zvakakosha zvekambani. Kugadziridza kungave kuri madikanwa kana kukosha kwemukati kwestock kuchichinja kana kana mikana mitsva isingakosheswi ikamuka. Kuongorora kunobatsirawo vatengesi kuona mamiriro ezvinhu apo mutengo wemusika wasvika kana kudarika kukosha kwayo kwemukati, zvichiratidza mukana wekutengesa. Kugara uchiongorora uye kugadzirisa chengetedza iyo portfolio inoenderana nezvinangwa zvemubhadharisi uye kukosha-yekudyara misimboti, kuve nechokwadi kuti inoshanduka mukupindura kushanduka kwemamiriro.
5.5 Kuranga Kwepfungwa
Chirango chepfungwa chakakosha pakubudirira kwekudyara kukosha, sezvo zano rinowanzo sanganisira kupikisa manzwiro akakurumbira emusika uye kuchengetedza maonero enguva refu. Value investimendi vanofanirwa kuramba kuda kuita sarudzo dzechimbi-chimbi zvichienderana neruzha rwemusika, kushanduka kwemitengo, kana mafambiro enguva pfupi. Pane kudaro, vanotarisa pakuongorora kwakakosha uye kukosha kwemukati, kuchengetedza moyo murefu sezvavanomirira mari yavo kuti vaone zvavanogona. Kuranga kwemoyo kunonyanya kunetsa panguva yekusagadzikana kwemusika, asi zvakakosha kuti udzivise kukanganisa kunodhura uye kuramba wakazvipira kune kukosha-kudyara huzivi. Nekukudziridza pfungwa dzakarangwa, vanoisa mari vanogona kufamba pamusika wakakwira uye wakaderera nechivimbo, wakatarisana nekubudirira kwenguva refu.
| muduku | tsananguro |
|---|---|
| Kuisa Zvinangwa Zvekudyara | Inotsanangura zvinangwa zvemari uye kushivirira kwenjodzi, kuumba nzira yekusarudzwa kwemasheya uye manejimendi epodfolio. |
| Kugadzira Chirongwa Chekudyara | Inotsanangura hurongwa hwakarongeka hwekusarudzwa kwemasheya uye kuvaka portfolio kuzadzisa zvinangwa zvenguva refu. |
| Kuita Chirongwa | Inosanganisira kutenga kwakarongeka uye kutengesa mukuenderana ne-value-investing maitiro, kutarisa kukosha kwemukati. |
| Kuongorora uye Kugadzirisa | Kugara uchiongorora uye kugadzirisa kwepodfolio kuti urambe uchienderana nemitemo yekuisa mari. |
| Kurangwa Kwepfungwa | Inotarisa pakuchengetedza kushivirira uye kudzivisa zvisarudzo zvechimbichimbi, zvakakosha pakubudirira kwenguva refu mukudyara kukosha. |
6. Zvakajairika Zvikanganiso Zvokudzivisa
Mukukosha kwekudyara, kudzivirira kukanganisa kwakajairika kwakakosha sekutevera zano rakanyatsorongeka. Mhosho idzi dzinowanzobva mukuita kwemanzwiro, kusarerekera kwekuziva, kana kushaikwa kwekuomerera kumisimboti yakakosha yekudyara. Nekunzwisisa uye nekuziva misungo iyi, vatengesi vanogona kuita sarudzo dzine ruzivo, vachiramba vakaisa pfungwa pazvinangwa zvenguva refu pane kukundwa nedzvinyiriro dzenguva pfupi. Ichi chikamu chinoongorora zvikanganiso zvakakosha izvo zvinokoshesa vatengesi vanofanirwa kurangarira kuchengetedza zvese mari uye chirango.
6.1 Kusashivirira
Kusashivirira ndechimwe chezvikanganiso zvinowanzoitika mukukosha kwekudyara. Tichifunga kuti zano iri rinotsamira pakumirira musika kuti ugadzirise masheya asina kukosha, kazhinji zvinoda nguva yakati wandei kusati kwaitika zvakakosha. Vanoisa mari vangava vasingashiviriri kana vasingaoni miuyo yapakarepo uye vanoedzwa kuti vasiye nzvimbo dzavo nguva isati yakwana, vachirasikirwa nokuonga kwenguva refu. Kukosha kwekudyara kunoda moyo murefu, sezvo masheya anowanzo tora nguva kuti asvike kukosha kwawo kwemukati. Nekuramba wakazvipira kumisimboti yakakosha uye kuramba kuda kwekukurumidza kudzoka, vanoisa mari vanogona kuwedzera kugona kwekudyara kwavo.
6.2 Kutya uye Makaro
Kutya uye makaro manzwiro ane simba anogona kukanganisa kukosha kwekudyara zano. Kutya kunowanzoitika panguva yekuderera kwemusika, zvichiita kuti vanoisa mari vatengese zvavari kubata varasikirwa kana kuti vadzivise mari inowanisa mari. Makaro, kune rumwe rutivi, anogona kuita kuti vatengesi vadzingirire kudzoka kwakakwirira nekudyara mumasheya akakosheswa kana kutsauka pakuongorora kwavo kwakakosha. Manzwiro ese ari maviri anogona kukanganisa kutonga uye kutungamirira kune zvisarudzo zvechimbichimbi. Kubudirira kukosha kwekudyara kunoda nzira yakadzikama, ine musoro, apo sarudzo dzinoitwa zvichibva pakuongorora pane kuita kwemanzwiro kumamiriro emusika. Nekuchengeta kutya uye makaro, vatengesi vanogona kuchengetedza nzira yakatsiga yekuzadzisa zvinangwa zvavo.
6.3 Kunyanya kuzvivimba
Kunyanya kuzvivimba kunogona kukanganisa mukudyara kukosha, sezvo zvichigona kutungamirira vanoisa mari kuti vawedzere kugona kwavo kuona masheya asina kukosha kana kufanotaura mafambiro emusika. Kunyanya kuzvivimba vatengesi vanogona kufuratira zviratidzo zvakakosha, kutadza kunyatso tsvagurudza, kana kuisa mari yakawandisa muchitoro chimwe chete. Izvi zvinogona kuguma nekurasikirwa kukuru, kunyanya kana musika kana stock ichiita zvinopesana nezvavanotarisira. Kukosha kwekudyara kunoda kuzvininipisa uye kuzvipira kuongororo yakasimba; kunyanya kuzvivimba kunoderedza nzira iyi, zvichiunza ngozi isingakoshi. Nekuchengetedza maonero echokwadi uye kubvuma miganhu yeruzivo rwavo, vanoisa mari vanogona kuita sarudzo dzakangwarira uye dzine ruzivo.
6.4 Mafungiro Emombe
Herd mentality inoreva tsika yekutevera mhomho mukuita sarudzo dzekudyara, kazhinji zvichipesvedzerwa nemaitiro akakurumbira, media hype, kana zviito zvevamwe vanoisa mari. Mafungiro aya anogona kuve nengozi zvakanyanya mukudyara kukosha, sezvo zvichigona kutungamira vanoisa mari kutenga masheya akawandisa kana kusiya zvinzvimbo nguva isati yakwana zvichienderana nemusika. Value investor kazhinji vanovavarira kuita zvakapesana nemhomho, vachitarisa kukosha kwemukati kwete mukurumbira wazvino. Nekudzivisa mafungiro emombe, vanoisa mari vanogona kuramba vakazvipira kuongororo yavo uye kuona mikana isingakosheswe iyo vamwe vangafuratira, kuwana ad.vantage pamusoro pemaitiro-anotevera nzira.
6.5 Kuregeredza Hunhu Hunhu
Kunyange kuongororwa kwehuwandu kwakakosha mukudyara kukosha, kutarisisa zvinhu zvemhando yepamusoro zvinogona kutungamirira kusarudzo dzisina kukwana kana kusaziva. Zvinhu zvakadai semhando yehutungamiriri, kumira kweindasitiri, mukurumbira wemhando, uye kukwikwidza advantages inoita basa rakakosha mukubudirira kwekambani kwenguva refu. Kufuratira aya emhando yepamusoro kunogona kuguma nekudyara uko, nepo mari ichikwezva pabepa, kushaya simba kana kukura kuzadzisa kukosha kwayo kwemukati. Value investimendi vanobatsirikana kubva kune yakazara nzira, kubatanidza zvese zvehuwandu uye zvemhando ruzivo kuti uwane kunzwisisa kwakadzama kwesimba rekambani uye tarisiro yeramangwana.
| muduku | tsananguro |
|---|---|
| chinya | Tsika yekusiya zvinzvimbo nekukasira, kutadza kuwana mibairo yenguva refu nekuda kwekushaya moyo murefu. |
| Kutya uye Makaro | Mapinduriro epfungwa anotungamirira kusarudzo dzechimbi-chimbi, kazhinji achitsauka kubva pamisimboti inokosha. |
| Kunyanya kuzvivimba | Kuwedzeredza kugona kwemunhu kuona kukosha kana kufanotaura mafambiro emusika, kuwedzera kuratidzwa kwenjodzi. |
| Kufungisisa Kwemombe | Kutevera mafambiro akakurumbira kana zviito zvevanhu vazhinji, izvo zvinogona kutungamira mukudyara mumasheya akawandisa. |
| Kuregeredza Qualitative Factors | Kutarisa chete pahuwandu hwedata pasina kufunga nezvehunhu senge manejimendi kana chinzvimbo cheindasitiri. |
7. Nyaya Zvidzidzo zveVanobudirira Value Investors
Learning kubva kune vanobudirira kukosha vanoisa mari inopa ruzivo rwakakosha mumisimboti uye mazano anotsigira nzira iyi. Ava vanoisa mari vane mukurumbira vakawana budiriro inoshamisa nekuomerera kune zvakakosha-kudyara zvakakosha, zvichiratidza kugona kwehuzivi uhu kana hukashandiswa nekuranga uye kufanoona. Kuongorora maitiro avo uye zvavakawana zvinopa chaiyo-yepasirese maonero ekuti kukosha kwekudyara kunogona kuitwa sei zvinobudirira kuunza zvakakosha zvenguva refu.
7.1Warren Buffett
Warren Buffett, anowanzo kunzi "Oracle yeOmaha," mumwe wevanonyanya kuzivikanwa vanotsigira kukosha kwekudyara. Sezvo sachigaro uye Mutungamiriri Mukuru weBerkshire Hathaway, Buffett akavaka humambo hwemabhiriyoni emadhora nekudyara mumakambani asingakosheswi ane nheyo dzakasimba uye kugona kwekukura kwenguva refu. Maitiro ake anosanganisa kuomarara kuongororwa kwemari nekunzwisisa kwakadzama kwezvinhu zvemhando, senge manejimendi mhando uye yemakwikwi ad.vantage. Buffett's philosophy inosimbisa kutenga masheya pamutengo wakaderera kune yavo yemukati kukosha, kazhinji kuibata kwemakumi emakore kubvumira kusanganisa kuti kuwedzere kudzoka. Kubudirira kwake kunoratidza kukosha kwekushivirira, chirango, uye maonero enguva refu mukukosha kwekudyara, zvichimuita munhu ane simba kune vanoshuvira vatengesi pasi rese.
7.2 Benjamin Graham
Benjamin Graham anoonekwa zvakanyanya sababa vekukosha kwekudyara uye munyori wezvinyorwa zvekutanga senge The Intelligent Investor uye Kuchengetedzwa Ongororo. Graham akaunza pfungwa yekukosha kwemukati, musimboti wekukosha kwekudyara, iyo yaakatsanangura sekukosha kwechokwadi kwemasheya zvichienderana nezvayo zvakakosha. Akasimudzirawo muganho wekuchengetedza pfungwa, achikurudzira vanoisa mari kutenga masheya nemutengo wakanyanya pazasi kukosha kwavo kwemukati kudzivirira kubva mukusagadzikana kwemusika uye kukanganisa mukukosheswa. Maitiro aGraham akarongeka zvakanyanya, achitarisa pakuongorora kwakasimba kwemari kudzivirira fungidziro. Dzidziso dzake dzakapesvedzera zvizvarwa zvevanoisa mari, kusanganisira Warren Buffett, achisimbisa kukosha kwekuongorora kwakadzikama uye kukoshesa kukosha.
7.3 Peter Lynch
Peter Lynch, mushambadzi ane mukurumbira uye aimbove maneja weMagellan Fund kuFidelity Investments, anozivikanwa nekubudirira kwake kwekutora masheya mukati mehurongwa hwekuisa mari. Lynch inotsigira nzira yemaoko, inokurudzira vanoisa mari kuti vatarise kumakambani avanonzwisisa uye "kudyara mune zvavanoziva." Zano rake rinosanganisa kukosha-kudyara misimboti nekukura-yakatarisana nekuongorora, yakanangana nemakambani asina kukosheswa ane hukuru hwekukura. Lynch's inoshamisa track rekodhi inoratidza kushanda kwekubatanidza kukosha uye maitiro ekukura, zvichibvumira vanoisa mari kuti vakwanise kuwana pamusoro-pamusika kudzoka nekudyara mumakambani akafuratirwa ane anovimbisa tarisiro.
7.4 Charlie Munger
Charlie Munger, mutevedzeri wasachigaro weBerkshire Hathaway uye shamwari yaWarren Buffett yenguva refu, munhu ane mukurumbira mukudyara kukosha, anozivikanwa nekutarisa kwake kukosha kwekuoma kwehungwaru uye kufunga kwakasiyana-siyana. Maitiro aMunger ekudyara anosimbisa basa remhando yezvinhu, senge manejimendi mhando, tsika dzebhizinesi maitiro, uye inosimudzira yemakwikwi ad.vantages, pamwe chete nekuongorora kwehuwandu. Anotsigira kunzwisiswa kwakakwana kwemhando yebhizinesi rekambani uye mamiriro eindastiri, achikurudzira vanoisa mari kuti vadzivise mabhindauko akaomarara kana ane njodzi. Pesvedzero yaMunger inoburitsa kukosha kwekutsvagisa kwakazara, kufunga kwenguva refu, uye kutarisa kumakambani emhando yepamusoro, achipa zvidzidzo zvakakosha kune vanoisa mari vanotsvaga nzira dzekudyara dzakatenderedzwa.
| muduku | tsananguro |
|---|---|
| Warren Buffett | Inozivikanwa nekuvaka Berkshire Hathaway kuburikidza nekuraira, kwenguva refu kukosha kwekudyara, kutarisa kune yemukati kukosha uye kusanganisa. |
| Benjamin graham | Kuonekwa sababa wekukosha kuisa mari; yakaunza pfungwa dzakakosha senge kukosha kwemukati uye muganho wechengetedzo, ichisimbisa kuongorora kwekuchengetedza. |
| Peter Lynch | Vatsigiri vekudyara mumakambani anozivikanwa; inosanganisa kukosha kwekudyara pamwe nekukwanisa kukura kune pamusoro-pamusika kudzoka. |
| Charlie Munger | Inotarisa pakusimba kwepfungwa uye kuongorora kwehutano; vanotsigira kunzwisisa bhizinesi rekambani uye kudzivirira kuoma. |
mhedziso
Kukosha kwekudyara inzira isingane nguva yakaratidza kukosha kwayo pamisika yakasiyana siyana, mamiriro ehupfumi, uye maindasitiri. Yakadzika midzi mumusimboti wekutenga midziyo isingasviki kukosha kwayo kwemukati, zano iri rinosimbisa moyo murefu, ongororo yakarongeka, uye maonero enguva refu, izvo zvinogona kutungamirira kune zvakakosha zvemari nekufamba kwenguva. Nekutarisisa pane zvakakosha kwete mafambiro emusika, koshesa vanoisa mari vanozviisa pachezvavo kuti vashandise mikana isina mutengo isingatariswe nevamwe.
Kiyi yekubudirira kukosha kwekudyara kuri mukunzwisisa pfungwa dzakakosha senge kukosha kwemukati, muganho wechengetedzo, uye dzakaomarara nzira dzekuongorora, kusanganisira yakaderedzwa kuyerera kwemari, madhirezi edhisheni, uye kuenzanisa kukosha. Pamusoro pezvo, kusarudza masheya akakodzera kunoda kunyatsoongorora zvese zvehuwandu uye zvemhando zvinhu, kuve nechokwadi chekuongorora kwakanyatso kudzika kunoderedza njodzi. Kuvaka portfolio yakasiyana-siyana inopindirana ne-value-investing musimboti kunogona kudzivirira vanoisa mari kubva mukusagadzikana kwemusika uku uchinatsiridza zvingangodzoka.
Kudzidza kubva kune vane mukurumbira kukosha vanoisa mari vakaita saWarren Buffett, Benjamin Graham, Peter Lynch, naCharlie Munger kunopa nzwisiso yakakosha yekuti nzira yakadzora uye yekushivirira yekudyara inogona kuunza mhedzisiro inoshamisa. Zvavakaita zvinosimbisa kukosha kwekuomerera kune zano rakanyatsotsanangurwa, kudzivirira kukanganisa kwakajairika sekushivirira, mafungiro emombe, uye kunyanya kuzvivimba.
Pakupedzisira, kukosha kwekudyara rwendo rwunoda kuzvipira uye kusimba, kubvumira vanoisa mari kuti vafambe nekuchinja kwemusika nechivimbo. Kune avo vanoda kugashira misimboti yayo, kukosha kwekudyara kunopa nzira yakagadzikana yekugadzira hupfumi, ichigonesa vanoisa mari kuzadzisa zvibodzwa zvemari vachichengeta nzira inochengetedza, ine njodzi.
