Ngaba ungumtyali-mali onomdla wokufumana izitokhwe oza kutyala kuzo? Awukwazi ukugqiba ukuba isitokhwe sixatyiswe kakhulu okanye asibalulekanga kwaye ufuna ukwazi ukuba kufuneka uqale ukuthenga ngoku okanye kamva? Umlinganiselo olula woqingqo-maxabiso unokuba yimpendulo yakho.
Endaweni yokuthatha ingcebiso kumntu ngenxa yokuba edumile, kufuneka ugxininise ekuzameni ukufumanisa ukuba isitokhwe asixabisekanga okanye hayi nguwe. Usenokuba uyazibuza ukuba oku kunokwenzeka na. Impendulo nguewe!
Ukuqonda le ngcamango, masiqale sijonge ukuba zeziphi izitokhwe ezingaxabisekanga, kwaye zeziphi ezona zinto ziphambili ezinegalelo ekubeni isitokhwe singaxabisekanga.
Intoni sisitokhwe esingaxatyiswanga?
Isitokhwe esingaxabisekanga seso okholelwa ukuba kufuneka sixabiseke ngakumbi kunokuba sinjalo ngoku. Ukuba imarike iyavumelana nawe, ngoko iya kunyuka. Okukhona isitokhwe singaxabisekanga, kokukhona inzuzo onokuyenza. Kodwa okukhona ungaqinisekanga ukuba ayixabisekanga.
Ukungaxatyiswa urhwebo lwesitokhwe ngaphantsi kwexabiso layo elingaphakathi. Ixabiso elingaphakathi, xa sithetha nje, ixabiso lokubhangisa lenkampani kunye nemivuzo elindelekileyo yexesha elizayo njengoko ithotywe ngeqondo lenzala elifanelekileyo. Warren Buffett ichaza ixabiso elingaphakathi njengexabiso langoku lazo zonke izahlulelo zexesha elizayo kubaninizabelo.
Isitokhwe sinokuthengiswa ngendlela engeyiyo ngenxa yezizathu ezininzi, ezinye zazo zezexeshana kwaye ezinye azikho.
Makhe sibone ukuba yintoni ebangela ukuba izitokhwe zingaxatyiswa.
Esona sizathu sokuba isitokhwe singaxabisekanga
Izabelo zifumana ixabiso eliphantsi ngenxa yezizathu ezahlukeneyo. Nantsi imizekelo embalwa yendlela isitokhwe esinokungabi naxabiso ngayo:
- Ukuwa kwentengiso
xa imakethi yesitokhwe i-booms, ihlala iqhuma ngokukhawuleza emva koko. Oku kubhekiselwa kuko njengeqamza. Xa abatyali-mali beba nethemba kakhulu malunga namaxabiso aphezulu ezabelo, baqala ukuthengisa ii-holdings zabo ngokukhawuleza. Oku kuthengisa kubizwa ngokuba yi-panic selling, kwaye kubangela ukuba amaxabiso emarike ehle.
Ngaba uyalikhumbula iqamza le-dot-com?
Ukuthenga izabelo, xa oku kusenzeka, kukunika ithuba lokuthenga amasheya ngexabiso eliphantsi.
- Ukhuseleko olubi
Ukugqithiswa kwengxelo yeendaba ezimbi malunga nomba wexeshana elifutshane kukhokelela ekubeni isitokhwe sehle.
Umzekelo, masithi inkampani imangalelwa ngumntu othi imveliso yayo ibagulise. Inyaniso yokuba kukho ityala elilindelekileyo libangela ukuba isitokhwe sehle ukusuka kwi-Rs 200 ukuya kwi-Rs 100. Abanini-zabelo balahlekelwa yisiqingatha semali yabo.
Kodwa ukuba inkampani iphumelele ityala, isitokhwe sibuyela kwi-Rs 200 okanye nangaphezulu.
- Ukuzithemba okuncinci
Isitokhwe sinokuthi singaxatyiswa ngenxa yokuba akukho bantu baneleyo abakwaziyo ngaso, okanye ngenxa yokuba abayiqondi kakuhle into abayaziyo. Uninzi lweziqalo ekuqaleni azixatyiswanga ngenxa yokuba abantu abaninzi abaziyo ngazo. Kuphela kusemva kokuba bephumelele ukuba ixabiso lifikelela kwixabiso.
- Abakhuphisani abomeleleyo
Abakhuphisana abanamandla (okanye abangeneleli abatsha beemarike eziphazamisayo) babangela ukuba abatyali-mali bakholelwe ukuba ifemu isengozini.
Umzekelo, masithi kukho ishishini elineenkampani ezimbini kuphela kulo: A kunye neB. Inkampani A inengeniso ephindwe kabini kunenkampani B, kodwa inkampani B inenzuzo ephindwe kabini kwiRupee nganye yengeniso.
Yeyiphi eya kuthengisa ngaphezulu?
Kuxhomekeke kwindlela abantu abayixabisa ngayo inzuzo xa ithelekiswa nengeniso. Zombini zizalathisi
- Ukuthotywa ngabahlalutyi
Xa umhlalutyi ehlisa isitokhwe, isitokhwe sihlala sihla. Oku kuyinyani ngakumbi ukuba ukuhla kuza ngaphambi kokukhululwa kwengeniso yekota. Umhlalutyi wehlisa ixabiso labo ekujoliswe kulo kunye nokulinganisa kwisitokhwe kuba balindele ukuba inkampani iphose uqikelelo lomvuzo.
Bagxile kakhulu kwixesha elifutshane, bengathatheli ngqalelo amandla exesha elide okanye amathuba okukhula kwenkampani.
Ngamanye amaxesha, inkampani iya kuphuma kunye nemivuzo emihle kodwa iphinde ithotywe ngenxa yokuba ayizange ibethe ukulindela. Ihlala isebenza kakuhle kubatyali-zimali abachaseneyo ukuba bathenge kumashishini asemgangathweni xa ezi nkampani zingaxatyiswanga.
Le yimizekelo nje embalwa yeemeko eziqhelekileyo ezinokubangela ukuba isitokhwe sehle ngexabiso.
Masiqhubele phambili kwiindlela zokuchonga isitokhwe esingenaxabiso.
Iindlela ezintlanu zokufumana izitokhwe ezingaxabisekanga
1. Imivuzo
Ixabiso layo nayiphi na inkampani inokumiselwa ngokujonga umvuzo wayo.
Yiyo loo nto ixesha lemivuzo libangela ukuguquguquka okungaka kwiinkampani, njengoko abatyali-mali bezama ukuthenga ezona zitokhwe ziphezulu ngamaxabiso anomtsalane. Ukuba inkampani ibikhulisa imivuzo nge-15% ngonyaka kule minyaka mi-5 idlulileyo, kwaye ngoku irhweba kangangama-20 emivuzo, isenokungaxatyiswa xa ithelekiswa nezinga lokukhula kwayo ngokwembali.
Ngakolunye uhlangothi, ukuba imivuzo iye yahla kwaye isitokhwe sisarhweba ngamaxesha angama-20, mhlawumbi ixabisa kakhulu. Ndingacebisa ukuba ujonge umlinganiselo we-P/E wenkampani.
P / E Ubungakanani: Umlinganiselo wexabiso ukuya kwingeniso (P/E) yenye yezona zinto ziqhelekileyo ezisetyenziswayo kwi utyalo kuba kulula ukubala. Ibonisa ukuba bangakanani abatyali-mali abazimisele ukuchitha kwi-stock ngokumalunga nomvuzo wabo ngesabelo ngasinye (EPS).
Ukubala umlinganiselo we-P / E, yahlula ixabiso ngesabelo ngasinye nge-EPS. Ingeniso ngesabelo ngasinye yinzuzo eshiyekileyo yenkampani eyahlulwe ngenani lilonke lezabelo.
Umlinganiselo weP/E = Ixabiso ngeSabelo ngeSabelo / uMvuzo ngeSabelo ngasinye
Gcina ukhumbula ukuba umlinganiselo we-P/E unokwahluka ngokuxhomekeke kushishino. Nangona umlinganiselo we-P/E weshishini likhulu kunomnye, isitokhwe sisenokungaxatyiswa.
Umlinganiselo we-P/E wenkampani uxhomekeke kwishishini kunye nenqanaba lophuhliso lwenkampani. Umzekelo, iinkampani ezivelisa izinto ezintsha ezifana neefemu zeteknoloji zineeP/E eziphezulu njengoko zityala imali eninzi kuphando nakuphuhliso; njengokuba ezi nkampani zikhula, iiP/Es zazo ziyehla.
2. Izahlulelo
Enye indlela yokuxabisa izitokhwe ngezabelo. I-dividend ibonisa ukuba inkampani inemali eyaneleyo yokuhlawula enye yeenzuzo zayo kubatyali-mali rhoqo. Iinkampani ezihlawula rhoqo izabelo zidla ngokukhula kwaye zizinzile kunezo zingakwenziyo kwaye zinokuba notyalo-mali olunomngcipheko omncinci.
Umlinganiselo wesivuno sesahlulo ungakanani umvuzo owufumanayo ngedola nganye etyalwe kwisitokhwe. Ibalwa ngokwahlulahlula izabelo zonyaka ngexabiso lesabelo ngasinye kwaye ichazwe njengepesenti. Okukhona sikhulu isivuno sesahlulo, kokukhona uya kufumana imali eninzi.
Ulwahlulo lweSivuno = Izahlulo zoNyaka ngeSabelo ngasinye / Ixabiso leMarike ngeSabelo ngasinye
Yiyo loo nto izitokhwe ezinezabelo eziphezulu zihlala zithathwa ngokuba “zixabiso” kwisitokhwe. Ngokuqhelekileyo zikhulile, iinkampani ezizinzileyo ezivelisa ukuhamba kwemali okungaguqukiyo ekuhambeni kwexesha.
Izahlulo zikwakuvumela ukuba ufumane njengoko ulindele iinkampani zakho ezingabizi kakhulu ukuba zibe nexabiso elingaphezulu. Kuya kufuneka ukhethe inkampani ehlawula rhoqo izabelo.
3. Ixabiso leBhuku leXabiso lexabiso
Ixabiso-kwincwadi (P/B) luqikelelo lotyalo-mali oluthelekisa ixabiso le-asethi yenkampani kwimalike eyinkunzi. Ngamanye amaxesha, le metric ikwabizwa ngokuba yi "market-to-book ratio". I-P/B ingasetyenziselwa ukuthelekisa iinkampani enye kwenye, okanye ngaphakathi kwenkampani enye ngokuhamba kwexesha.
Umlinganiselo we-P / B ubalwa ngokwahlula intengo yesitokhwe yangoku ngexabiso lencwadi ngesabelo ngasinye.
Umlinganiselo weP/B = Ixabiso leMarike ngesabelo ngasinye / Ixabiso leNcwadi ngesabelo ngasinye
Unokufumana ixabiso lencwadi ngesabelo ngasinye kwiphepha lomncono. Isekelwe kwii-asethi kunye namatyala efemu.
Ukuba umlinganiselo we-P/B ungaphantsi kuno-1, oko kuthetha ukuba unokuthenga zonke izinto zenkampani ngemali encinane kunento ethi ifanelekile. Ngamanye amazwi, ufumana isaphulelo sokuthenga izinto zenkampani kunye neshishini.
Ukuba ixabiso lexabiso le-stock-to-book ratio lingaphezulu kwe-1, oko kuthetha ukuba uhlawula ngaphezu kwexabiso lenkampani.
Umlinganiselo we-P / B awufanelekanga kakuhle kwi-stocks yokukhula. Kukulungele ngakumbi ukuxabisa isitokhwe, esihlala singenamvuzo okanye ilahleko encinci, kodwa enokuba lutyalo-mali olunomdla.
4. Ityala kwi-Equity Ratio
Umlinganiselo wetyala kwi-equity usetyenziselwa ukulinganisa amandla emali enkampani. Ibalwa ngokwahlula ityala lexesha elide ngokulingana kwabanini zabelo. Okukhona uphezulu umlinganiselo, kokukhona inkampani inamandla.
D/E Umlinganiselo = Amatyala ewonke / uBulungisa buphelele
Unokujonga ukuba isitokhwe asixatyiswanga okanye hayi ngokujonga umlinganiselo wetyala-kwi-equity ratio kwaye uyithelekise nomyinge we-avareji yetyala-to-equity ratio. Isizathu sokuba ndithande ukuthelekisa inkampani yam nabanye kwishishini layo kukuba yonke imveliso ine "imilinganiselo" eyahlukileyo xa kufikwa ekubolekeni imali. Kukho kwakhona ezahlukeneyo izibonelelo zerhafu kuxhomekeke kuhlobo lweshishini onalo.
Lelinye lawona manani abalulekileyo ukujonga ngelixa uxabisa inkampani. Ukuba une-Rs 1 Crore kwinzuzo kunye ne-Rs 2 Crore ematyaleni, akulungile, nangona une-Rs 1 ye-Crore kwinzuzo.
Isizathu sokuba abatyali-mali abaninzi bafune ukujonga eli nani kukuba bangathanda ukuthenga iinkampani eziya kukwazi ukuhlawula amatyala abo. Ke, xa utyala imali kwinkampani, uya kuqinisekisa ukuba inkampani inemali eyaneleyo engenayo, ukuze ikwazi ukwenza inkonzo yetyala layo.
5. Buyela kwi-Equity
Ukubuyela kwi-equity, okanye i-ROE, ilinganisa indlela ulawulo olusebenzayo olusebenzisa ngayo inkunzi yomtyali-mali. Nantsi indlela owubala ngayo:
I-ROE = Ingeniso eseleyo / Ukulingana kwabaninizabelo
Inkampani idla ngokungaxatyiswa ukuba imbuyekezo yayo kwi-equity iphezulu kunezinga lokukhula kwayo. Ukuba ungumtyali-mali wexabiso, eyona ndlela ilula yokugweba ukuba imarike ayixatyiswanga okanye hayi kukukhangela imbuyekezo ephakathi kwi-equity yemarike. Ukuba iphezulu kunezinga lokukhula kwexesha elide, ngoko ke ayixatyiswanga.
Ukuba ujonga idatha ukusuka kwi-2000 ukuza kuthi ga ngoku, umyinge wembuyekezo ye-equity ye-Indian stocks ibe malunga ne-14%. Ungabona kwakhona ukuba eli nani liyaguquguquka ngokuhamba kwexesha – ngamanye amaxesha liphezulu kwaye ngamanye amaxesha libe ngaphantsi. Nanini na xa ifika ngaphantsi kwe-10%, imarike ingena engxakini kwixesha elifutshane. Ngo-2001, 2008, kunye no-2020, xa eli nani lehla ngaphantsi kwe-10%, kuthwala i marike kungekudala emva koko.
Amazwi okugqibela
Imarike inzima kakhulu ukuba ngumtyali-mali ophumeleleyo. Eyona nto ibalulekileyo ukuyiqonda kukuba izinto ezininzi zimisela ixabiso lenkampani.
Yiyo loo nto, ngaphambi kokuthenga isitokhwe, kubaluleke kakhulu ukuba wenze uphando lwakho ngokucokisekileyo kwaye ube namandla ipotfoliyo leyo ikuvumela ukuba ubambelele kwii-stocks nangona zihla ngexabiso. Funda Izixhobo zoPhando kwiMarike yeStock eIndiya ukuhlalutya ngokusisiseko nasiphi na isitokhwe kwiiMarike zaseIndiya.
Ndiyathemba ukuba uyonwabele inqaku elingentla, kwaye ndinqwenela inhlanhla kwimarike yemasheya.
Shiya iMpendulo