| : Ʈȿ Ż īڽ ° å ġ 6(The 6 Commandments of Value Investing)" 1 Ұ Դϴ. 2~6 Ұ 帮ڽϴ.
* ó: Ż īڽ(Vitaliy Katsenelson), IMA CEO, " ġ: Ÿֿ̹ ġ , The 6 Commandments of Value Investing - #1: A stock is partial ownership of a business, https://contrarianedge.com/the-6-commandments-of-value-investing/
* ó: Ż īڽ(Vitaliy Katsenelson), IMA CEO, " ġ: Ÿֿ̹ ġ , The 6 Commandments of Value Investing - #1: A stock is partial ownership of a business, https://contrarianedge.com/the-6-commandments-of-value-investing/
ġ 6 ٽ ۷ غ . 츮 ȸ簡 ġ 6 ڿ ϰ ִ ְ ߴ.
۷ û ġڵ̾ ⺻ 츮 ȸ翡 ƴ϶ ۼ߾. ̹ (ġ 6) غϸ鼭 츮 ȸ ̾߱ ̰ ݿϷ ߾. ٺ å , ϴ ̹ ߰, ̰ ̴.
ġ 6
ġ 6 . ġڶ 6 ̴. 6 ̾-- ó--꿡 ֽĺм ̴.
1) ֽ κ ̴(Ĵ ƴϴ).
2) ð (м Ⱓ 鿡 ).
3) 츮 ϱ ִ( ˾ƾ Ѵ).
4) - ߸ 츦 żݿ ξ Ѵ.
5) ƴ϶ ںս ũ.
6) ְ ᱹ ġ ƿ´.
6 ſ ߿ϰ Ǹ , ȥ Ȳ ӿ ΰ ϱ .
õ ΰ Ұϴ. 6 ΰǡ ʵ ϱ ؼ ̸ 츮 ڿý--мƲ ϻ ڰ-- Ű ൿؾ Ѵ.
̹ 6 Ұϴ Ϳ ӹ ʴ´. ξ ̴̻. ڵ鿡 ǿ ð ϰ, 츮 ȸ簡 6 ڿýۿ ״ ִ ̴.
1: ֽ κ ̴
츮 ϰ ִ ̱ κ ؿ ֽĽ ſ ̴. 츮 Ʈ ̵ֽ ִ. Ŭ ణ Ḹ δϸ ȴ. ̷ ſ -- Ĵ ͵ ̷ , , Ѵ--ÿ ġ طο ִ. м ð ̰ ڸ Ʒ ڷ ų ֱ ̴.
Ÿڵ , ֽ ƴ϶ Ÿϴ ǰ Ұϴ. ̵鿡 ֽ ̳ . Ÿڵ ð, Ϻ ȥ() ӿ ã Ѵ. ڷμ Ÿڵ鿡 . ڸ 츮 ٸ ƴ϶ ư ſ ٸ.
Ÿڵ , ģ ִ. ̵ ڽŵ ϰ ִ (Ÿ) ڿ ȥ ʾҴ. Ÿڵ ֽĿ ϴ ڽŵ Ģ ڵ ſ ٸٴ Ѵ.
ۿ Ÿڵ . ϰ δ ֽ ڻ , Ȥ Ǿ Ʒ ڰ ڵ̴. Ʒ ڵ Ÿ ƴϴ. Ÿڵ ϴ ͵ ƴϰ, ӿ ã ͵ ƴϱ ̴. ̵ ڵ ƴϴ. ֳϸ 鸮 ٶ ҵǾ м Ǿ ̴.
ڿ Ʒ ڸ ϴ ڰ ϴ ̴. ڶ ؼ м м ϱ ̴. , ش мϰ, ͷ(earnings power) 帧 ϸ, --κ ڽ 帧 ȣϴ ɷ, -- ϰ, ϰ ִ ũ 캻. ġ ϰ, ( ġ ݿ ż , ڽ 䱸η--䱸ͷ-- ) Ѵ. 쿡 10 20% ֽ 0.002% м Ѵ. ٷ ̰ ո -- Ͱ ̾-- мϴ ̴.
ؾ ̷ ո µ ϰ ֽĽ 츮 Ʒ ڷ Ű ? ſ ϴ. ̷ ȴ. ֽĽ 10Ⱓ ȴ ص ȸ(ֽ) Ϸ ΰ? ( ͿԼ ̴). 츮 ֽ µ ȭŲ.
ſ Ȥ̸ ڸ Ʒ ڷ Ű 츮 м ŵȴ. ڱ ֽ (quality)--̼, 帧, , ںͷ, 繫Ȳ, 濵 -- ſ ٸ ǹ̸ ȴ. < 1 >
<> ð Ѿ : ϳ 츮 Z ѱؾ ƿ ݸ ԵɹĮ
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