Ka nui o nā waiwai i hoʻopaʻaʻia a me nā kālā kālepa
Ua hoʻokumuʻia ka luna a me ke alakaʻiʻo Berkshire Hathaway,ʻo Warren Buffett, i kahi mea no ka mea kūʻai kālā iʻikeʻia ma ke kālā e loaʻa ai nā kālā e uku ai i nā kālā i hāʻawiʻia i nā mea kālā a me nā kālā i mālamaʻia e kaʻoihana. ʻO ke kumumanaʻo ma hope o kona manaʻo no ka loaʻaʻana o nā mea i loaʻa iā ia ma ke kaʻina,ʻo ia ka loaʻaʻana o nā mea waiwai a pau i nā mea waiwai inā ua ukuʻia lākou ma keʻano he ukana kālā a iʻole ia i hoʻopiliʻia i loko o ka hui. ʻO ka loaʻaʻana o nā kālā i loaʻa, e like me Buffett, ke kūʻai nei i ka loaʻa o ka loaʻa o ka loaʻaʻana o ka uku ma ka uku haʻahaʻa a me ka hāʻawiʻana i ke kōpili e mahalo ai i ka manawa.
Pehea e helu ai i nāʻike - ma o ka loaʻaʻana
Ma keʻano maʻamau,ʻo ka hōʻikeʻana o nā hui i ka uku a me ka puʻuwai i hoʻoiliʻia ma ke kaʻana (e like paha, inā mākou e hoʻi i ka wā, ua hōʻikeʻia ka uku i ukuʻia ma ka pāʻani $ 25.12 no ka hopena o ka makahiki 2003.) I kekahi manawa, ukuʻia kekahi hapa o ka uku i ka poʻe e like me ka uku kālā (e like me ka hāʻawiʻana o ka Washington Post i kahi kālā $ 7.00 i ka poʻe kuleana ma ka makahiki 2003.) Hōʻikeʻia kekahiʻano'ē aʻe, no ka $ 25.12 i ukuʻia ma ka uku o ka waiwai o ka hui, $ 7.00 i hoʻounaʻia i ua loaʻa i kēlā me kēia mea ma ka pepa he uku helu hoʻokaʻawale i hiki iā lākou ke lawe i kā lākou kāleka aʻo nā koena i koe $ 18.12 ua hoʻokumu houʻia ma nāʻoihanaʻoihana o Wakinekona Washington i komo nā nūpepa, nā lawelawe hoʻonaʻauao, a me nā wahi kelepona.
Me ka haʻaleleʻana i ke kaʻina kūʻai o nā ukana ,ʻo kahi mea kālā e loaʻa ana i 100 mau mahele o Washington St kahi kālā kūʻokoʻa i loaʻa he $ 700 kālā kālā ma ka hopena o hoʻokahi makahiki (100 mau w. $ 7 no ka uku'āina). Akā,ʻo ka $ 1,812 i "kuleana" i ka mea kuleana a ua hoʻokumu houʻia ma kaʻoihana Washington Post i waiwai nui maoli ka mea waiwai aʻaʻole hiki ke mālamaʻia,ʻoiaiʻoiaiʻaʻoleʻo ia i loaʻa i ke kālā.
I ke kumukānāwai,ʻo ke kumukūʻai hope loa ka hopena iʻoi aku ka nui o nā kumu kālā i ka manawa.
E like me ka mea i haʻi muaʻia,ʻo Buffett ka mea e loaʻa ai nā mea i loaʻa i nā mea e loaʻa ai nā mea i loaʻa i ka mea waiwai kālā -ʻo nā mea i mālamaʻia a me nā mea i ukuʻia ma keʻano he uku. Hiki ke nānāʻia ma o ka laweʻana i ka waiwai i hoʻolakoʻia e kahi waiwai o ka poʻe waiwai a lawe i nāʻauhau i loaʻa ke loaʻa inā loaʻa nā waiwai a pau ma keʻano he uku kālā . E hoʻohālikelike i kēia manaʻo: e manaʻo anaʻo John Smith, he mea kūʻai waiwai nui, he kōkoʻokumu kāna e hoʻopaʻa ai iʻelua mau palekana -ʻo ia ka waiwai o Wal-Mart Waliff a me ka waina inu wainaʻo Coca-Cola. E uku ana kēia mau pūʻuluʻelua i kekahi hapa o kā lākou kālā ma keʻano he uku, akā ināʻo John wale nō e nānā i nā huina kālā i loaʻa i loaʻa kālā, e hōʻoleʻo ia i ka hapa nui o ke kālā i loaʻa iā ia. No kaʻike ponoʻana i keʻano o kāna mau hoʻolimalimaʻana, ponoʻo John e helu i kāna mau waiwai i loaʻa. I ka hopena, ua paneʻo ia i ka nīnau, "ʻEhia ka uku kālā ma hope o kaʻauhau inā iaʻu inā ua uku nā kamaliʻi iaʻu i 100% o ka waiwai i hōʻikeʻia?"
Kahi Kūlana 1: Wal-Mart
I ka makahiki 2004, ua hōʻikeʻiaʻo Wal-Mart i loaʻa kālā ma kahi o $ 2.03.
Ua hoʻonuiʻia nā māhele o John ma 15% a ua loaʻa iā ia he 5,000 mau o Wal Wal. No laila, eia nā mea i loaʻa iā ia: $ 2.03 uku uku i loaʻa 5,000 mau wānana = $ 10,150 mua o kaʻauhau * [1 - .15 hapa nui] = $ 8,627.50.
Kahi Kūlana 2: Coca-Cola
I ka makahiki 2004, ua hōʻikeʻiaʻo Coca-Cola e ukuʻia he $ 1.00. Aiaʻo John i 12,000 mau'āpana o kaʻupena waiwai o ka hui. Hiki ke heluʻia kona mau hiʻohiʻona e like me kēia: $ 1.00 uku i ukuʻia x 12,000'āpana = $ 12,000 mua o kaʻauhau [1 -1515 ka uku auhau] = $ 10,200.
Ka Loaʻa Loaʻa i nā Loaʻa Loaʻa no ka Pakuhi Pūnaewele
Ma o ka hōʻoiaʻana i nā hualoaʻa piha ma o nā kālā i hanaʻia e kāna mau waiwai, eʻike ana mākou uaʻikeʻo John - ma o ka loaʻa kālā he $ 18,827.50 ma hope o kaʻauhau ($ 8,627.50 + $ 10,200). He hewaʻole ia e hoʻolohe wale aku i ka $ 6,630 * i loaʻa mai ma ka liʻiliʻi kālā i ka manawa ma hope o kaʻauhau.
Hōʻike mai ka'ōleloʻokoʻa iā mākou he $ 12,197.50 ka mea i hanaʻia i loko o nā pūʻaliʻelua e hōʻea ana i kona pōmaikaʻi i ka waiwai.
Pehea eʻike ai ma o ka makemakeʻana e kūʻai a kūʻai aku i nā koho
Mahea e kūʻai aku aiʻo John i kona kūlana Coca-Cola a iʻole Wal-Mart? Inā kūponoʻo ia e hiki i kekahi manawa kūpono e hoʻolimalima iā ia ke kūʻai mai i nā waiwai nui aʻoi aku ka waiwai o ka hui e like me nā mea i loaʻa ma muli o ka rula a iʻole ke kūlana hoʻolālā paha, hiki iā ia ke'āpono aku e kūʻai aku i kāna mau waiwai a hoʻoneʻe i loko o kekahi Kamalii (e nānā i ka mea e pili ana iā Wal-Mart a me Coca-Cola, akā,ʻaʻole paha e loaʻa kekahi hui me nā kūlana hoʻokūkū likeʻole a me nā waiwai waiwai.) Benjamin Graham, ka makuakāne o ka waiwai waiwai a me ka mea kākau o ka hoʻoponopono Security a me The ʻO ka meaʻike kālāʻike, ua manaʻoʻia ka mea noi kālā e koi ma ka liʻiliʻi ma 20% a 30% hou kālā e hōʻoiaʻiʻo e kūʻai i kahi kūlana a neʻe i kekahi.
Eia kekahi, ponoʻo John e loiloi i kāna hana hoʻokomoʻana ma nā hopena hana o kaʻoihana,ʻaʻoleʻo ke kumukūʻai. Inā mau ka uluʻana o nā kālā i loaʻa iā ia ma ka nānāʻana a me ka mālamaʻana o ka hoʻomalu i ka mālamaʻana i nā kaiāulu,ʻo ka kumukūʻai kūʻai wale nō ka mea e pili ana i ka hāʻawiʻana iā ia e kūʻai i nā kālā hou i kahi kūʻai maikaʻi; ʻO kēia mau kūkala wale nōʻo ia wale nō ka luna o Mr. Market . ʻO ka $ 18,827.50 i ka nānā - ma o nā uku kālā a John i heluʻia he mea like loa ia i kona waiwai e like me ka holoiʻana i kaʻa kaʻa, hale hale a hale kūʻai. Ma o ke kākoʻoʻana mai kahi hiʻohiʻonaʻoihana, uaʻoi aku ka maikaʻi o kā John koho ma mua o nā manaʻo. I ka lōʻihi o ka hoʻokūkū hoʻokūkū o kēlā me kēia pūʻulu, ua nānāʻo John i nā hua nui o ke kumukūʻai o Wal-Mart a me Coca-Cola mau waiwai kūpono i mea e loaʻa hou ai nā nānā-ma o nā uku kālā ma ke kumukūʻai.
Ka Noeau o nā Loaʻa Loaʻa ma nāʻImiʻIke
Nui nāʻahahui e hoʻokomo i nāʻoihana'ē aʻe. Ma lalo o nā Kumukānāwai Pūnaewele Kuhiʻia (GAAP),ʻo ka uku o kēia mau waihona waiwai e hōʻikeʻia ma kahi oʻekolu mauʻano: keʻano kumu kūʻai, keʻano kūlike a me keʻano hoʻohuiʻia. Ke hoʻohanaʻia nei ke kumukūʻai lilo i nā paʻa e kū nei i lalo o ka iwakālua pakeneka o ka mana koho; ʻo ka loaʻa wale nō ia o nā kālā i loaʻa i ka hui hoʻohui. ʻO kēia hemahema ke kumu i weheweheʻia aiʻo Buffett i nā uku i loaʻaʻole ma kāna mau leka kūʻai; ʻO Berkshire, i kēia manawa a me kēia manawa, ua nui nā haipule i nā hui e like me Coca-Cola, ka Washington Post, Gillette, a me ka American Express. Ke hāʻawi nei kēia mau poʻe i kahi hapaʻuʻuku o ko lākou loaʻa kālā ma keʻano o ka māhele, a ma muli o ka hopena, uaʻoi aku ka waiwai o Berkshire i nā mea waiwai ma mua o kaʻikeʻiaʻana i nāʻikepili kālā. No ka 'ike hou aku, e nānā i nā Koi Maʻemaʻe ma ka Hōʻike kālā - Ke Kumu Hana, Ke Ala Loa a me ka Hui Hoʻohui .
** Ka heluʻana i nā uku kālā ma keʻano ma hope o kaʻauhauʻana:
Wal-Mart: $ .36 mahele o ka huina kālā he $ 5,000 = = 1,800 * [1 - .15 hapa nui] = $ 1,530 mahope-auhau
Coke: $ .50 no ka huina kālā mahele he $ 12,000 mau = $ 6,000 * [1 - .15 'āpana auhau] = $ 5,100 ma hope o kaʻauhau
-----------------------------------------------
$ 6,630 ke loaʻa ma nā waihona kālā ma hope o kaʻauhau