Ingabe ungumtshalizimali onentshisekelo yokuthola izitoko ozotshala kuzo? Awukwazi ukunquma ukuthi isitokwe sikhulu kakhulu noma asibhekwa njengenani eliphansi futhi ufuna ukwazi ukuthi kufanele yini uqale ukuthenga manje noma kamuva? Isilinganiso esilula sokulinganisa singaba yimpendulo yakho.
Esikhundleni sokuthatha iseluleko kumuntu ngenxa nje yokuthi udumile, kufanele ugxile ekuzameni ukunquma ukuthi isitokwe asihlonishwa yini noma cha. Ungase uzibuze ukuthi kungenzeka yini lokhu. Impendulo ithi yebo!
Ukuze siqonde lo mqondo, ake siqale sithole ukuthi ziyini izitoko ezingabalulekile, futhi yiziphi izici eziyinhloko ezinomthelela ekutheni isitoko singabukeki.
Ini ingabe isitokwe esingabalulekile?
Isitokwe esingaziswanga yileso okholwa ukuthi kufanele sibe nenani elikhulu kunalokho esiyikho njengamanje. Uma imakethe ivumelana nawe, izokhuphuka. Uma isitokwe singaziswa kakhulu, kuba nenzuzo enkulu ongayenza. Kodwa uma uqiniseka kancane ukuthi akubalulekanga kangako.
Okungabalulekile ukuhweba ngamasheya ngaphansi kwevelu yayo yangaphakathi. Inani langaphakathi, uma sikhuluma nje, inani lokuvalwa kwenkampani kanye nenzuzo yayo yesikhathi esizayo elindelwe njengesaphulelo ngenzalo efanelekile. UWarren Buffett ichaza inani elingaphakathi njengenani lamanje lakho konke ukusatshalaliswa kwesikhathi esizayo kubaninimasheya.
Isitoko singaba nenani elingafanele ngezizathu eziningi, ezinye zazo ezesikhashana kanti ezinye ezingezona.
Ake sibone ukuthi yini edala ukuthi izitoko zingabukeki.
Isizathu Esiyinhloko Sokuba Isitoko Singabi Namanani Kaphansi
Amasheya abukelwa phansi ngenxa yezizathu ezihlukahlukene. Nazi izibonelo ezimbalwa zokuthi isitoko singabukelwa phansi kanjani:
- Ukuphahlazeka kwemakethe
Lapho stock market ama-boom, ngokuvamile aqhuma ngokushesha ngemva kwalokho. Lokhu kubizwa ngokuthi i-bubble. Lapho abatshalizimali beba nethemba elikhulu mayelana nezintengo eziphezulu zamasheya, baqala ukuthengisa izinto zabo ezibambile ngesivinini esisheshayo. Lokhu kudayiswa kubizwa nge-panic selling, futhi kubangela ukuba amanani ezimakethe ehle.
Uyalikhumbula ibhamuza le-dot-com?
Ukuthenga amasheya, uma lokhu kwenzeka, kukunikeza ithuba lokuthenga amasheya ngentengo ephansi.
- Ukufakwa okungekuhle
Ukubikwa kwezindaba ezimbi ngokwedlulele kwenkinga yesikhathi esifushane kuholela ekutheni isitoko siwohloke.
Ngokwesibonelo, ake sithi inkampani imangalelwa othile othi umkhiqizo wayo ubagulisile. Iqiniso lokuthi kunecala elilindile lidala ukuthi isitoko sehle sisuka ku-Rs 200 siye ku-Rs 100. Abanikazi bamasheya balahlekelwa ingxenye yemali yabo.
Kodwa uma inkampani iwina icala, isitoko sibuyela ku-Rs 200 noma ngisho nangaphezulu.
- Ukuzethemba okuncane
Isitoko singabukezwa phansi ngenxa yokuthi abantu abanele abazi ngaso, noma ngenxa yokuthi abaqondanga abakwaziyo. Iziqalo eziningi ekuqaleni azibukelwa phansi ngoba abantu abaningi abazi ngazo. Kungemva kokuba sebephumelele lapho inani lifinyelela inani.
- Izimbangi ezinamandla
Izimbangi ezinamandla (noma abangena emakethe abasha abaphazamisayo) benza abatshalizimali bakholelwe ukuthi inkampani isengozini.
Isibonelo, ake sithi kunemboni enezinkampani ezimbili kuphela kuyo: A kanye ne-B. Inkampani A inemali engenayo ephindwe kabili kunenkampani B, kodwa inkampani B inenzuzo ephindwe kabili ngeRupee ngayinye yemali engenayo.
Iyiphi ezothengisa ngokungeziwe?
Kuya ngokuthi abantu bazisa kanjani inzuzo uma kuqhathaniswa nemali engenayo. Zombili ziyizinkomba
- Ukwehliswa ngabahlaziyi
Lapho umhlaziyi ehlisa isitoko, isitoko ngokuvamile siyehla. Lokhu kuyiqiniso ikakhulukazi uma ukwehlisa kufika ngaphambi kokukhishwa kweholo lekota. Umhlaziyi wehlisa intengo yakhe eqondisiwe kanye nesilinganiso esitokisini ngoba balindele ukuthi inkampani igeje izilinganiso zeholo.
Bagxile kakhulu esikhathini esifushane, bengacabangeli amandla esikhathi eside enkampani noma amathemba okukhula.
Kwesinye isikhathi, inkampani izophuma neholo elihle kodwa iphinde yehliswe ngenxa yokuthi ayizange idlule obekulindelekile. Ngokuvamile kusebenza kahle ukuthi abatshalizimali abaphikisana nabo bathenge amabhizinisi asezingeni eliphezulu lapho lezi zinkampani zinganakwa.
Lezi izibonelo ezimbalwa nje zezimo ezivamile ezingase zenze isitoko sehle ngenani.
Ake siqhubekele ezindleleni zokuhlonza isitoko esinganakwa.
Izindlela ezinhlanu zokuthola izitoko ezingabalulekile
1. Iholo
Inani lanoma iyiphi inkampani linganqunywa ngokubheka izinzuzo zayo.
Yingakho inkathi yemali engenayo ibangela ukuntengantenga okungaka ezinkampanini, njengoba abatshalizimali bezama ukuthenga izitoko zekhwalithi ephezulu ngamanani ahehayo. Uma inkampani ibikhulisa imali engenayo ngo-15% minyaka yonke kule minyaka engu-5 edlule, futhi manje isihweba izikhathi ezingu-20, ingase ibukezwe kancane uma iqhathaniswa nezinga layo lokukhula elingokomlando.
Ngakolunye uhlangothi, uma imali etholwayo ibilokhu yehla futhi isitokwe sisahweba ngezikhathi ezingama-20, kungenzeka ukuthi senziwe inani ngokweqile. Ngingancoma ukuthi uhlole isilinganiso se-P/E senkampani.
P / E kwesilinganiselo: Isilinganiso sentengo ukuya kumholo (P/E) singesinye sezilinganiso ezisetshenziswa kakhulu izimali ngoba kulula ukubala. Ibonisa ukuthi yimalini abatshalizimali abazimisele ukuyisebenzisa esitokweni esihlobene nenzuzo yabo ngesheya ngalinye (EPS).
Ukuze ubale isilinganiso se-P/E, hlukanisa intengo ngesheya ngalinye nge-EPS. Inzuzo ngesheya ngalinye iyinsalela yenzuzo yenkampani ehlukaniswa ngenani eliphelele lamasheya.
Isilinganiso se-P/E = Inani Ngesabelo ngasinye / Imali Etholwayo Ngesabelo ngasinye
Khumbula ukuthi izilinganiso ze-P/E zingahluka kuye ngemboni. Ngisho noma isilinganiso se-P/E yemboni ethile sikhulu kunesinye, isitoko singase singaziswa kangako.
Isilinganiso se-P/E senkampani sincike embonini nasesiteji sokuthuthuka kwenkampani. Isibonelo, izinkampani ezisungula izinto ezintsha njengezinkampani zobuchwepheshe ngokuvamile zine-P/E ephezulu njengoba zitshala imali eningi ocwaningweni nasekuthuthukisweni; njengoba lezi zinkampani zikhula, ama-P/E azo ehla.
I-2. Izihlukaniso
Enye indlela yokwazisa amasheya ngokusebenzisa izabelo. I-dividend ibonisa ukuthi inkampani inokugeleza kwemali okwanele ukuze ikhokhele enye yezinzuzo zayo kubatshalizimali njalo. Izinkampani ezikhokha izabelo ezijwayelekile zivame ukuvuthwa kakhulu futhi zizinzile kunalezo ezingakhokhi futhi zingaba utshalomali olungenabungozi kangako.
Isivuno se-dividend sikala ukuthi ingakanani imali engenayo oyitholayo ngedola ngalinye elitshalwe esitokweni. Ibalwa ngokuhlukanisa izabelo zonyaka ngenani ngesheya ngalinye futhi iveze njengephesenti. Uma ukhula isivuno se-dividend, uzozuza imali eningi.
Isivuno Sesabelo = Izabelo Zonyaka Ngesabelo ngasinye / Inani Lemakethe Ngesabelo ngasinye
Yingakho izitoko ezinenzuzo ephezulu zivame ukubhekwa njengezitoko “zenani”. Ngokuvamile ziyizinkampani ezivuthiwe, ezizinzile ezikhiqiza ukugeleza kwemali okungashintshi ngokuhamba kwesikhathi.
Izabelo futhi zikuvumela ukuthi uzuze njengoba ulinde izinkampani zakho ezishibhile ukuthi zibe nenani eliphakeme. Kufanele ukhethe inkampani ekhokha njalo izabelo.
3. Intengo yokubhukha Isilinganiso senani
Inani le-Price-to-book (P/B) isilinganiso sokuhlolwa kwe-investimenti esiqhathanisa inani lengqikithi yempahla yenkampani nemali yayo yemakethe. Kwesinye isikhathi, le metric yaziwa nangokuthi "imakethe-kuya-ncwadi" isilinganiso. I-P/B ingasetshenziswa ukuqhathanisa izinkampani nezinye, noma ngaphakathi kwenkampani eyodwa ngokuhamba kwesikhathi.
Isilinganiso se-P/B sibalwa ngokuhlukanisa inani lamanje lesitoko ngenani lencwadi ngesheya ngalinye.
Isilinganiso se-P/B = Intengo Yemakethe ngesheya ngalinye / Inani Lencwadi ngesheya ngalinye
Ungathola inani lebhuku ngesheya ngalinye eshidini lebhalansi. Isekelwe ezimpahleni nasezikweletini zefemu.
Uma isilinganiso se-P/B singaphansi kuka-1, kusho ukuthi ungathenga zonke izimpahla zale nkampani ngemali encane kunalokho okushiwo yi-market yabo yemakethe. Ngamanye amazwi, uthola isaphulelo ngokuthenga izimpahla nebhizinisi lale nkampani.
Uma isilinganiso sentengo nencwadi yesitoko sikhulu kuno-1, kusho ukuthi ukhokha ngaphezu kwalokho okufanele inkampani.
Isilinganiso se-P/B asifaneleki kahle ekukhuleni kwamasheya. Kufaneleka kangcono ukulinganisa izitoko, ngokuvamile ezingenanzuzo noma ukulahlekelwa okuncane, kodwa okungase kube ukutshalwa kwezimali okuthakazelisayo.
4. Isikweletu ku-Equity Ratio
Isilinganiso sesikweletu kuya kukulingana sisetshenziselwa ukukala amandla ezimali enkampani. Sibalwa ngokuhlukanisa isikweletu sesikhathi eside ngokulingana kwabaninimasheya. Uma isilinganiso siphezulu, inkampani iba namandla kakhulu.
D/E Isilinganiso = Isamba Sezikweletu / Isamba Sokulingana
Ungahlola ukuthi isitokwe asinamanani aphansi noma cha ngokubheka isilinganiso saso sesikweletu ukuya ku-equity bese usiqhathanisa nesilinganiso somkhakha wesikweletu kuya kokulinganayo. Isizathu sokuthi ngithande ukuqhathanisa inkampani yami nabanye abasembonini yayo ukuthi yonke imboni ine “mikhuba” ehlukene uma kukhulunywa ngokuboleka imali. Kukhona futhi ezahlukene izinzuzo zentela kuya ngokuthi unaluphi uhlobo lwebhizinisi.
Ingenye yezinombolo ezibaluleke kakhulu okufanele uzibheke ngenkathi ukwazisa inkampani. Uma unenzuzo engu-Rs 1 Crore kanye no-Rs 2 Crore esikweletini, lokho akukuhle, nakuba unenzuzo engu-Rs 1 Crore.
Isizathu sokuthi abatshalizimali abaningi bafune ukubheka le nombolo ukuthi bangathanda ukuthenga izinkampani ezizokwazi ukukhokha izikweletu zabo. Ngakho-ke, uma utshala imali enkampanini, uzokwenza isiqiniseko sokuthi inkampani inemali eyanele engenayo, ukuze ikwazi ukusevisa isikweletu sayo.
5. Buyela ku-Equity
I-Return on equity, noma i-ROE, ikala ukuthi abaphathi bayisebenzisa kanjani imali yabatshalizimali. Ubala kanje:
I-ROE = Isamba semali engenayo / ukulingana kwabanikazi bamasheya
Inkampani ivamise ukubukelwa phansi uma ukubuyiswa kwayo kokulingana kungaphezulu kwezinga lokukhula kwayo. Uma ungumtshali-zimali onenani, indlela elula yokwahlulela ukuthi imakethe ibukelwa phansi noma cha iwukubheka imbuyiselo emaphakathi kokulingana kwemakethe. Uma ingaphezulu kwezinga lokukhula lesikhathi eside, kusho ukuthi ithathwa kancane.
Uma ubheka idatha kusuka ku-2000 kuze kube manje, isilinganiso sembuyiselo ku-equity ezitokweni zaseNdiya cishe sibe ngu-14%. Ungabona futhi ukuthi le nombolo iyashintshashintsha ngokuhamba kwesikhathi – kwesinye isikhathi iba phezulu kwesinye isikhathi ibe phansi. Noma nini lapho iba ngaphansi kuka-10%, imakethe ingena enkingeni esikhathini esifushane. Ngo-2001, 2008, no-2020, lapho le nombolo yehla ngaphansi kuka-10%, bear market ngemuva nje kwalokho.
amazwi okugcina
Imakethe inzima kakhulu ukuba ngumtshali-zimali ophumelelayo. Into ebaluleke kakhulu okufanele uyiqaphele ukuthi izici eziningi zinquma ukubaluleka kwenkampani.
Kungakho, ngaphambi kokuthenga isitoko, kubaluleke kakhulu ukuthi wenze ucwaningo lwakho kahle futhi ube namandla aqinile. iphothifoliyo ukuthi ikuvumela ukuthi ubambelele ezitokweni ngisho noma zehla ngenani. Funda Amathuluzi Ocwaningo Lwemakethe Yezimakethe eNdiya ukuhlaziya ngokuyisisekelo noma yisiphi isitoko Ezimakethe ZaseNdiya.
Ngithemba ukuthi usijabulele lesi sihloko esingenhla, futhi ngikufisela inhlanhla emakethe yamasheya.
shiya impendulo