Ʈ in 2019
- : ͷ Ȯϰ ϶
- : ȫ
- ̷̵ / 2019-01 / 381 / \\17,500
Ʈ(quant)
quantitative(跮, ִ) analyst(м) ռ. 迡 ڸ ų ȭ ϴ Ѵ. ̵ ǻ ˰ ڿ ȰѴ. ǻ ˰ Ʈ ڰ ϴ ݵ Ʈ Ͼ ϰ ִ.
- [̹ Ĺ] - (Ѱ )
: Ʈ(跮)ڴ ڰ DZ Ʈ ִٴ ִ. Ʈ Ϸ ùٸ ̸ ľ ִ. Ʈ ſ Ӹ ƴ϶, ڸ ״ ˰ ȴ. ̷ ͵ ˰ Ǹ Ȯ ڿ ִ.
δ, پ ǥ, , δ 帧/ мؼ ߿ ȿ Ʈ ãƳ ڿ Ȱϴ ̶ ϸ ͽϴ.
2 ȯ , [ ִ! Ʈ ] ̷Ӱ о İ ֽϴ. Ʈڿ õ åδ 10 [ ġ] 츮 åδ ó̸鼭 λ ֽϴ. 츮 /ǥ ؼ 츮 ڰ å ܱ å Ȱ밡ġ ٰ մϴ.
ܱ åδ Ʈ [ֽĽ ̱ å Little Book that Still Beats the Market in 2006] մϴ. ̺ 巹 [ ] ߵ پ ǥ Ʈ ϸ 庸 ڼͷ ִٰ ٰŰ а 츮 ġ ƹ, ̾ Ʈڸ ߴٰ ֽϴ. غ ġ 밡 ǥ ϸ鼭 ؿ ´ ֽ Ʈ ߴٴ Ʈڸ ߴٰ ֽϴ.
ڴ ǻ翡 ٹϸ鼭 ڽ Ʈ ڻ ϴ ߸ ̷ ϰ ֽϴ. 2 л ͺ 縦 4 (2015~2018) 162.61% ͷ 27% ͷ ÷ȴٰ մϴ.
å پ Ʈͷ ־µ, ܼ ǥ Ʈ (å 1 6 ) üϴ û ٴ ϴ. ڰ ϴ ڹ ̸ پ м(ڴ Ʈ ) ʸ 캾ϴ.
˰ 谡 ˾Ƽ ŸѴٰ ϴ [Ʈ Ʃ] <õ> å ֽڸ ؾ ϴ ߴµ, ſ Դϴ.
ֽȸ ѹα ʰ ںѰ谡 Ŀٸ ְ ۿ . ̷ ˾Ƶ κ ڴ ٸ Ѵ. ٸ Ȯ ũ Ѵ. Ȯ ũ 忡 , ģ. Ȯ ũ⸦ Ű å ڽ ο Ƴ ʿ䰡 ִ. å ̷ ´ å̴.
м
1. Ʈ Ű 20 1~20 () ͷ ߽ϴ.
2. 繫ǥ
3. Ⱓ: 2000 7 ~ 2017 6( 17)
4. ü Ÿ ֱ: 1 1ȸ / 6
ǥ 밳 5 Ȥ 10ϴ Ҵµ, ڴ 20 ϰ ֽϴ. ڵ ߵ ְ Ⱓ(*) 3 (6 ) ְ ϴ ñ ־ Դϴ. ̴ ƴ϶ Ȯ 뿡 ־ ùٸ ؼ ǹ ҽϴ.
-> 12 3 Ȯ/õǹǷ 6 ְ ̸ ݿ/Ǿٰ ֽϴ. ְ ̴ ƴ϶ δٰ ոԴϴ.
Ʈڿ ⺻ 1. 繫ǥ ̿ϰų 2. ְ 3. Ķ ȿ 3 ŸϷ پ Ʈڸ ٷ ֽϴ. ߿ 繫ǥ ̿ Ʈ ι ŷڼ ٰ Ȱϱ ϴ.
뷫 캸
繫ǥ ̿ 跮 ( Ⱓ: 2000 7 ~ 2017 6, 17)
1. ڱ ڱ п 翬 ڱ ڱ ͷ Ÿϴ. ٸ ȯ ǿܷ ͷ Դµ, ̴ Ͻ ȯ ڷ ȯ߱ Դϴ.
-> ̷ ٸ å Ͼ ٷ ϸ ϴ.
2. װ п м ⺸ ͷ(+ 14.20%) (+ 9.28%) Խϴ. ڴ þ õ 3 ְ ݿǾ Ǿ ɼ ݴ پ ְ ϶߱ 1 ġ ְ ȸ ҵǾ ̶ մϴ.
ƴ ̷ ؼ ϸ ͷ Դٰ մϴ. ̹ ǥ 繫ǥ ̿ϴ ִ ̰ 繫ǥ ؼ ϴ ̹Ƿ () ʿ䰡 ٰ մϴ.
3. ͷ ̷ 翬 ͷ ͷ ҽϴ.
ͷ 5% ϰ ؼ 1⸶ ü Ÿߴٸ 17Ⱓ ͷ 17.46% ־ٰ մϴ. ( 0.1 -> 1.542)
-> ͷ ְ· ٴ ݴϴ.
-> ͷ ȣϴ μ ô Դϴ.
4. ٷ PER, PBR, PSR, PCR ǥ ǥ ɼ ͷ ҽϴ.
-> ͷ Բ ġڵ ߿ϰ ̵ ǥ м ؿ м Ͱ ־ٴ ݰϴ.
ٸ 17 Ⱓ Ȥ 5% ͷ ̴ 찡 Ÿϴ. 1 ̻ ̷ Ȳ ӵ ڵ Ⱓ ߳ ְڴٴ ϴ. 1990 2000 ʱ ־ IT ǥ̰ 2010~2011 ȭ ñ Ȥ ӵǰ ִ Ϻ ֽ̿ĵ ô տ Ͼϴ. ڴ γ ϴ å մϴ.
5. ROE, ROA ǥ: ( ϰ)ų ROE 5% ֽĵ 1⸶ ü Ÿߴٸ ͷ 1.74% Ұ߰ ROE 5% ֽĿ ߴٸ ͷ 14.89%.
-> ROE Ǿ ɼ ٰ ROE ϴµ, ߸ ʾҴٰ մϴ^^
6. ͷ ͷ ROE, ROA ǥ ó ( ) ͷ ͷ ־ϴ. ٸ ͷ Ȯ ̳ʽ ͷ ϴ.
7. ä ä ų ͷ ߰ 120% ͷ Ҵ Ÿϴ.
ְ ȿ
1. ְ ų ϰų ְ · Ұų Ҵ 20ؼ ߽ϴ. Ϲ ֿ ͷ ٰ ˷ ִµ, м ̸ Ȯ ־ϴ.
2. ְ · з (· ų )ش ͷ ͷ Ÿϴ.
-> ռ ä ̷ Ȱ밡ġ ϴ.
Ķ ȿ
˷ 1 ȿ, Ȥ , ð мߴµ, ؿ ÿ κ ȿ ϴ. ٸ 츮 ÿ ְ ٴ ǿ Խϴ. ٸ ŵŭ ߿ ̿ϸ ǰڴµ, ^^
: Ʈ, ߿ γ
- ̷ο ǿ ־ å (ڰ )Դϴ.
1. Ʈڴ γ 䱸Ѵ.
2. ̱ PBR ù̼ ־ 84.3% ս , ȸϴ ְ 79 ð ɸ 쵵 ־. ѱ ̱庸 ̶ .
3. ñⰡ γ Ʈ ڸ Ѵٸ, ڰ Ǿ ̴.
ڴ Ʈڸ ϱ ؼ γ ʿ ϰ ֽϴ. ֽ 缭 ٸ ġڴ ڹ̶ , װ ٰ Ұ ƴ϶ ܼϴٰ ǥؾ Ѵٴ ް ģ ֽϴ. Ʈڵ ġڵ Ȥ ڵ ǰ Ҵٸ ε, ϴٽ ô ƽϴ. ٷ γ ʿϱ ̰.
Ʈڰ ռͷ ̻ ִٴ ̷/ Ϲ ڰ ϸ鼭 庸 ͷ Ʈڰ ڹ մϴ.
ռ [ ִ! Ʈ ] İ , ܼ ǥ ״ٰ (3, 6, 1) ϴ ڹ ( ̰ )Ȱ ʰ ֽϴ. ż ֽ , 4 ϳ Ʈ ֱ ̹ Ʈڸ ϰ 鼭 ^^
( 2)