[ ġ@ġ]
ֽĽ忡 ܱ Ȳ ħ 鸮 ʰ ϰ ֵس ۽Ÿ ֽĵ ΰ? Ѵ. ȯ ؽ ȭ Ͽ ٽɻ о ֺ (:moat) θ ִ ̴.
̱ ݵ Ÿ ֽ ũ A. ֱ "ֵ(Bellwether) 50"̶ ̸ ֽĽ ϴ 50 Ư¡ мߴ. 鿡 ϰ ־ μ, ǰ(health care), Һ(consumer products) ̰ ܰ迡 ϴ ̾.
״ ̷ ϰ ִ ڸ 4 ҷ мϿµ ̻ ϰ ִ ںͷ Ӹ ƴ϶ ֽĽ忡 PER(ְ) ް ִ.
ְ θ ִ 4 Ư¡ .
1)
2) ٸ ȸ ǰ ٲٷ ۿ
3)Ư̳ ǥǰ ڻ ġ
4)Ʈũ ȿ ϴ ϰ ִ
, ̷ з ȭ ̶⺸ٴ (art) . Ư繫̳ 繫ǥ ּδ ̷ Ư¡ 縮 ߰ ̴.
8000 ̷ Ư¡ ߰ ֽĽ õķ س ʿ췮 10 캸.
1)Wal-Mart
ȿ ӱ ķǰŻ 15%̻ ǰ ϴ ȿ θ
2) Berkshire Hathaway
繫 ں ִ ȸ
3) Coca-Cola
귣 Ŀ, ôɷ, 鿡 Ȯ ߰ ִ.
4) Anheuser Busch
ü ϴ ־ ⸰, 䳢 ִ.
5) Wrigley
80%̻, ̱ 50%̻ ڶϴ ȸ
6) Moody's
庮 ںڴ ũ ͷ Ư¡ ִ. Դٰ źźϴ. ߽ð濵 ϳ.
7) Paychex
ó õ Ʈ ڰ ǹǷ ð ںϴ پ ݸ ͼ ް Ư¡ ִ.
8) Sysco
ijٿ ̱ Ϲ 40 Ȯϰ 230 ڶѴ. ȭ ķᵵŻ "Ը "ȿ ִ.
9) eBay
6õ ȸ ִ Ʈũ ȿ Ե ̴. eBay ڿ Ǹ ü̱ ̴.
10) Automatic Data Processing
Ȯ 强, 忡 , 繫 3ڸ 幮 췮̴.
ڷ ̱ м Ȳ ũ ֹ ʴ ʿ췮 ִ ذ ȸ ߴٴ 츮 ڿԵ ϴ. 츮 ֽĽ忡 ġ ߾ ְ ִٴ Ư ǹ̰ ũٰ ִ ̴.
˰ ֽϴ. ٰȭ е
PER ö . ȸ簡 Ͻ̰ ȸ
̶
¿ ̳ .
(moat) ãϴ.
ڸ ϴ° ϴ. 濵и
뼭ϴϱ. ̶ ұ.ڰ
ȸ 뼭 ȸ ־ ʽϴ. ^^