Nā Waiwai Lapuwale ma ka pepa Balance

ʻImiʻana i kahi pepa palekana

I kēia manawa, hiki mākou i kahi waiwaiʻole i ka waihona palekana. Loaʻa i nā kamaliʻi a pau i ka loaʻaʻana o nā waiwai waiwai i hikiʻole ke hoʻopāʻia, manaʻoʻia, aʻikeʻia paha. ʻO kēia mau waiwai nui, e like me kā lākou i kāheaʻia, aia nō i nā pateni, nā inoaʻoihana, inoa inoa, franchises, a me ka lokomaikaʻi waiwai, iʻoi aku ma mua o ka lokomaikaʻi . ʻO kaʻoluʻolu waiwai, ka mea i'ōlelo pinepineʻia i ka waiwai kūpono i kēia mau lā,ʻo ia nā pono kūponoʻole i kahiʻoihana iʻoi aku ma luna o kona mau kūlana e like me ka maikaʻi o ka inoa, kahi hoʻonohonohoʻana, ka pilina piliʻana, a me nā mea'ē aʻe) kēia mau waiwai iʻikeʻoleʻia i nā kumukūʻai ma ka waihona palekana , hāʻawiʻia kekahi manawa iā lākou e pili ana i nā kumukūʻai waiwaiʻole.

No ka hōʻoiaʻana i ka heluʻana o ka waiwai iʻikeʻoleʻia i ka waihona palekana, he mea hoʻopunipuni kēia, eia kahi māmala'ōlelo mai ka hōʻailonaʻo Michael F. Price no Benjamin Grahamʻo "The Interpretation of Financial Statements".

"I ka makahiki o ka makahiki 1975, ma hope koke iho o koʻu hoʻomakaʻana i kaʻuʻoihana ma Mutual Shares Fund , koi maiʻo Max Heine iaʻu e nānā i kahi kamaliʻi liʻiliʻi -ʻo ka F & M Schaefer Brewing Company.ʻAʻole loa au e poina e nānā ana i ka waihona palekana aʻike i kahi + / - $ 40 miliona net kumukūʻai a me $ 40 miliona i loko o nā "mea hanaʻole." Ua'ōlelo wau iā Max, 'He mea maikaʻiʻole ka mea kūʻai. 'Ōleloʻo Max, 'E hoʻoikaika.'

ʻIke au i nāʻike a me nā'ōleloʻike kālā , akā,ʻaʻole lākou i hōʻike i kahi i hele mai ai nā mea iʻikeʻoleʻia. Ua kāhea aku wau i ka pūʻokoʻa o Schaefer a'ōlelo maila, 'Ke nānā nei au i kāu pepa palekana. E haʻi mai iaʻu, he aha ka pili o ka $ 40 miliona o nā mea olaʻole? Pane akulaʻo ia, 'ʻAʻoleʻoe iʻike i kā mākou huelo,'ʻO Schaefer ka pia hoʻokahi i loaʻa iāʻoe ma mua o hoʻokahi. '

ʻO ia kaʻuʻike mua o ka waiwai waiwaiʻole, a me keʻano o ka heleʻana o ke alanui, ka nui o ka waihona puke , a hōʻike i nā uku iʻoi aku ma mua o ka mea i mālamaʻia i ka makahiki 1975.ʻO kēia mau mea no ka mālamaʻana i ke kumukūʻai kūʻai o Schaefer. ʻAʻole mākou i kūʻai. "

Pehea e hōʻoia ai i kahi pepa palekana

Ke hoʻokahoʻana i kahi pepa palekana, ponoʻoe e haʻalele i ka nui i hāʻawiʻia i nā waiwai iʻikeʻoleʻia, aiʻole, i ka mea liʻiliʻi loa, e lawe ia me kahiʻoi aʻe o ka paʻakai. Hiki paha ke waiwai nui kēia waiwai waiwai i loko o ke ola maoli akā,ʻaʻole paha e pili ana i ka helu heluʻikepili i ka hiʻona o ke kūpono pono.

E noʻonoʻo i ka Hui Coca-Cola. ʻOiai he $ 12.6 biliona wale nō ka waiwai o nā mea waiwai, nā mea kanu, a me nā mea hana ma kona waihona palekana ma hope o ka hopena o ka hapahaʻekolu (2015) (ʻaʻole i hoʻopukaʻia nā hōʻailona makahiki piha makahiki 2015, inā ua holo ka paʻa holoʻokoʻa i ka uahi i ka lāʻapōpō, e hiki nō iā ia ke lawe i $ 100 + piliona no ka hoʻopuka houʻana i kona mau mea i kūkuluʻia, nā papahana, a me ka pūnaewele kikowaena; ʻikeʻia kaʻokoʻa o ka mea i hōʻikeʻoleʻia ma kahi o ka pūʻulu palekana. I ka manawa hoʻokahi,ʻoi aku kaʻoihana iʻoi aku i ka $ 13 biliona i nā waiwai lewa ma nā puke. ʻO ka $ 13 biliona e pili ana i nā inoa e like me ka inoa a me ka logo o Coca-Cola, a he mau mea nui loa. Inā e alaʻoe i ka lāʻapōpō me ka loaʻaʻole o kahi waiwai i kou inoa, koe wale nō kēlāʻoihana pilikino, no ka mea e makemake ana nā mea kālā e kūʻai a kūʻai paha ia mai iāʻoe no ka mea e alakaʻi aku ai i nā mea inu inu nui ma mua. ka haneli o ke kükulu hale küikawä ma muli o ke kälepa, nä hopena maikaʻi, a me nä pilina maikaʻi.

Ka Mea nui o nā'Ake Mamawa

No kekahi mauʻoihana, nā waiwai iʻikeʻoleʻia ka engine ma hope o kaʻoihana. He kiʻi maikaʻi loa:ʻO ka Walt Disney Company. ʻAʻohe mea'ē aʻe e hiki ke hana i nā kānāwai a kūʻai aku i nā tausani o ka moʻolelo kumu a me nā moʻolelo pono'ī nona; he kuleana e hiki ai iā ia ke wehe i nā papa pāʻani i kūkuluʻia a puni lākou, e kūʻai aku i nā mea kūʻai e like me nā pahu meaʻai a me nā pahu kope, a hoʻokomo i nā'ahamele ola a me nā leka uila.

Hoʻokeleʻo Disney i $ 7.2 piliona ma kona waihona kālā no nā waiwai iʻikeʻoleʻia, akāʻo kaʻoi aku ka nui o ia.

Pehea e pono ai i ke kanaka ke hoʻoholo i ka waiwai o nā waiwai ponoʻole? No ka mea e loaʻa ana kahi kālā ma kahi paʻa e loaʻa ana i nā'upae ma kahi paʻaʻole, e like me ka laweʻana i nā ukana uliuli , e hakakā anaʻo Benjamin Graham ma nā laina e pono ai, pono e hōʻike i ka waiwai maoli o nā waiwai lewa i ka nā hōʻailona kūlana kiʻekiʻe o ka helu kālā , ka pale palekana, a me ka'ōlelo kālā kālā, aʻaʻole lākou e waiwai nui loa; ma ka hanaʻana i ka waiwai waiwaiʻole e like me kahi kumu waiwai'ē aʻe ma mua o ka nānāʻana ma nā kaona kālā i hanaʻia e ka mea hōkeo, he "helu helu lua" ia. ʻO kāna haumāna i kālepa nui loa,ʻo ia nōʻo Warren Buffett , ka mea hoʻolale kālā pāʻani kālā , a ma hope aku, hele ikiʻo ia i kahi ala likeʻole, e koi ana, i kekahi manawa, ua lawa ka waiwai o ka mīkini i ka hikiʻana iāʻoe keʻike i ka emiʻana o ke kālā i ka hikiʻole i ka wā o ka hoʻoulu waiwai , no laila e hoʻonaʻauao ai i ka mea waiwai e uku i ka uku kiʻekiʻe, kokoke i ka uku waiwai no kaʻoihana ma mua o kaʻimiʻana i ka hoʻemi.

Ma nā'ōlelo'ē aʻe,ʻaʻole pahaʻoe eʻike pono i ka waiwai maoli o nā waiwai waiwaiʻole a Disney a Coke paha, akā, inā e kūleʻa ana kekahi firm ma ke kūpono kūpono a iʻole he lalo, a he lōʻihi ka wā o ka wā kūʻai 5, 10, 25+ makahiki , maikaʻi paha ke kūʻai aku i kaʻikeʻana o nā waiwai lewaʻole heʻano ia o ka palena nui o ka palekana.