价值投资的秘密
最新书摘：
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[已注销]2015-04-12The main point is to have the right general principles and the character to stick to them...To try to buy groups of stocks that meet some simple criterion for being undervalued - regardless of the industry and with very little attention to the individual company...But I can tell you after 60 years of experience, it seems to stand up under any of tests that I would make up.
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[已注销]2015-04-09Essentially, a business needs two things in order to operate: working capital and fixed asset.There are other well-established measures of cheapness that have a good historical record and could be used to create alternative value-weighted indexes. They could be variants of price-to-earnings, price-to-cash-flow, price-to-dividends, price-to-book, price-to-sales.The small-cap effect would largely disappear in the real world due to the lack of liquidity and high trading costs for these smaller companies.
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[已注销]2015-04-09There are also a number of what are known as fundamentally weighted index strategies that have some definite advantages over simply equally weighting all stocks. For these strategies, instead of using market capitalization to decide how much to buy of each stock in the index, other measures of economic size are used.
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[已注销]2015-04-05According to finance theory and logic, the value of a business should equal the sum of all of the earnings that we expect to collect from that business over its lifetime. In reality, we should look for how much cash we receive from the business over its lifetime.