| : Ʈȿ Ż īڽ ° å ġ 6(The 6 Commandments of Value Investing)" 3 part-1 Ұ Դϴ.
* ó: Ż īڽ(Vitaliy Katsenelson), IMA CEO, " ġ: Ÿֿ̹ ġ , The 6 Commandments of Value Investing - #3-1: The market is there to serve you, not the other way around, https://contrarianedge.com/the-6-commandments-of-value-investing/
ֽ ű ġ ϴ ƴϴ. (⼭ ̶ ̳ ƴ϶ Ѵ) ᱹ ֽ ġ ϰ , ܱ ְ ̴.* ó: Ż īڽ(Vitaliy Katsenelson), IMA CEO, " ġ: Ÿֿ̹ ġ , The 6 Commandments of Value Investing - #3-1: The market is there to serve you, not the other way around, https://contrarianedge.com/the-6-commandments-of-value-investing/
̷ ұϰ, ̵ ̷ ְ ոȭ ãƳ Ѵ. ܱ ְ ϰ Ϸ 2¥ Ʊ ȭ Ϸ Ͱ ̴. , ° ð ݸ ſ Ȯ ̴.
ְ ֽĽ ڿ Ư ֵǾ , ֽ ġ ˰ ִٴ Ͽ . (Mr. Market) ֵѸ 뿹 ƴ϶ п ϵ .
츮 ֽ ġ 1 ˰ ִٸ, ֽ ְ 50Ʈ 30Ʈ 40% ϶ߴٸ, ̴ ̴ູ. ش ݿ ξ ڻָ ְ ǰ, 츮 ֽĿ ø ִ. ᱹ, ֽ 40% ֽ ̴.
⼭ ؾ ٽ ִµ, װ 1 ߴ ֽ ġ 1 Ȯ ־ Ѵٴ ̴.
ָ ũ Ÿ̽ οڸ, ± ȹ ִ ̴. Mr. Market ġ 1 ϴ ֽ 50Ʈ 30Ʈ ߸鼭 ո ΰ? ¼ Mr. Market ǾƼ ġ 1 ƴ϶ 40Ʈ Ұ ƴұ?
츮 ո ϱ 츮 IQ شȭϴ ߰ ִ. ʱ , ϳ ֱ ٶ. IQ = IQ EQ (⼭ EQ ≦ 1) ̴.
̿ ϱ ϰ Ѵ. װ IQ() EQ(), IQ ֽĸ ٸٴ ̴.
켱 IQ 캸.
IQ-- мϴ 츮 ɷ-- 츮 ٸ. 츮 п ٸ ߴ ó, ̷ ϴ 츮 ɷµ ٸ ̴. ٷ 츮 츮 ɷ¹ ȿ ִ ֽĸ żѴ. , 츮 츮 IQ ֵ ִ ϴ ִ.
߰ ε ݺ , ڰ а-- (¿) ؼ ϰ ִ ݺؼ ִ ȭ --̶, 츮 EQ ڿ ƹ ȴ١ ̴.
츮 TV ŸƮ ũ ҷó ڽ ϰų ι̶ EQ ƹ ȴ. ڴ ƴϰ 츮 ΰ̴. ΰμ 츮 dz ְ, EQ 츮 Ŀ ſ ߿ κ̴.
Ϲ 츮 츮 мɷ ð ϰ ȭȴٰ , װ ʴ.
ù°, ǰ(probabilities) ְѴ. мϴ ɷ¿ ƹ ٰ ص ( ) ְ ذϰ ִ ִ.
°, IQ ƴϸ, Ʈ Ȳ ȿ óϴ ɷ Ѵ. ū ġų ߿ λ ִ. ̷ ƴϸ, ̴ 츮 ΰ ϴ ̴.
ſ Ǹ ̸ (̸ ̱ ) 䱸 ģ ϳ ۸ ֽĿ ʴ´ٰ ִ. ۸ ֽ ϰ ո ٴ . Ʈ ɸ мϸ, ۸Ͽ Ʈ츶 ų(8 ۸Ͽ ġ ȥ ִ), ʳ ۸ ֽĿ и ִ. ̷ ۸ ֽ ġʹ ƹ ̴. ⼭ ߿ װ ۸ ֽ ϸ EQ , EQ IQ ջ Դ´ٴ Ҵٴ ̴.
Ư EQ , Ȳ (Ȥ ) IQ ɼ . Ŀ EQ 1 Ŭ ٷ ̴̰. ¿(EQ = 1 ) IQ IQ .
ǻ簡 ڱ ڽ ġ ʴ ո ϴ--, Ȯ --ɷ ɰϰ ѼյǴ ϱ ̴.
< 3 part 1 . part 2 ˴ϴ>.
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