airshoe824
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Posted: Thu 5:16, 25 Nov 2010 Post subject: Motorola was a nameless small company |
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Reference article: \\. \Only some of this book review on the above article written, shallow view that everyone laughed. because Fisher did not complete reading the whole book, he has not seriously studied all the public investment philosophy,[link widoczny dla zalogowanych], so you probably have some bias and misunderstanding, please understand.
Ai Wei: I think, for investment,[link widoczny dla zalogowanych], however, \must exist on numerous species can be successful in the investment approach and philosophy, of course, worthy of serious study and the successful experience of others, but I think more important is to establish a \A ?
Philip Fisher (Philips ? A ? Fisher) is a highly respected and respected Wall Street investment house. he in 1928 graduated from Stanford Business School, soon to enter the National Security Anglo National Bank of San Francisco investment banking division as securities analysis division, began his investment career. in the United States after the stock market crash in 1931, he was only 23 at the age of the company founded Fisher (Fisher & Co.), is principally engaged in investment advisory business, and has since embarked on a the legendary master of the road investment. After decades of investment in the career, he successfully discover and long-term holders of Motorola, Texas Instruments and other large super-growth stocks, not only was a great personal wealth, but also for his inside the circle of professionals Xuan He won a reputation. In his investment career,[link widoczny dla zalogowanych], the most successful and most praiseworthy is that future generations in 1955, Motorola was a nameless small company, he bought the lot categorically and long-term holders of stock in the next 20 years, Motorola rapid growth of the global leading companies, the stock also rose more than 20 times.
Ai Wei: First of all known cases on behalf of his success is \Motorola \, I would like to have a different thinking. Accordingly, to find a suitable investment philosophy, I think, more than anything else. each person in different ways to make money, Rogers with Rogers they understand the things he can rely on this to make money, the case of Peter Lynch, Warren Buffett and if so, the success of each has its own long-term investors almost completely different from other people's unique \homes was extremely low key, almost never receiving any access so that investors in general are not known; but in 1959 his famous \the book then a \The book became a best-selling investors familiar with the term, search for \> investment philosophy of the core: that growth stocks, grab it!
Ai Wei: investment \, over the pursuit of \misspelled it?) discussed in the article is also useful reference value. investment low price-earnings ratio and low growth stocks, are not necessarily bad, if beyond the scope of their ability to pursue growth stocks deliberately, then it may need to take their skills outside the scope of risk. For example, I think the initial investors can choose \the standard growth stocks, how to find growth stocks, such as how to grasp the opportunity to gain a comprehensive range of important issues and detailed exposition.
Fisher on forecast economic trends generally carried out little hope,[link widoczny dla zalogowanych], he said investors should focus on options to make their own with minimal costs and risks to get the maximum benefit of the company, which is called \15 points of growth stocks,[link widoczny dla zalogowanych], he believes that if a company can meet a considerable number of points, you have a relatively high investment value, it can be called \aspects:
first state of the market facing the company and its competitive ability: The company's turnover substantially within a few years can grow? have superior distribution channels? these two problems answer is to determine whether a company is worth studying the basic conditions.
revenue growth prospects for demand growth depends primarily on the situation,[link widoczny dla zalogowanych], the company's management must also be maintained at a high level. In addition, for corporate sales Ability is often overlooked, the vast majority of people just be satisfied to rely on a rough indicator of corporate sales. Fisher that these ratios are too careless, did not constitute a basis to judge the investment value, to understand a business The real marketing capability, must be where its competitors and customers to do difficult and painstaking investigation.
Ai Wei: This is the basic agreement. But I think for the external medium and small investors, there are relatively large practical difficulties. I want to sell their ability to understand, it is better to understand the \excellent company,[link widoczny dla zalogowanych], or is to invest in a hundred years old can operate a good company and a fool.
The second is the company's R & D levels: the efficiency of R & D activities of the company how? In order to further improve the overall level of sales, the discovery of new product growth, the management's determination to promote how much R & D activities?
Fisher believes that a company's financial stability to guarantee the most fundamental is the ability to constantly develop new,[link widoczny dla zalogowanych], can ensure a considerable amount of product line profit , which is directly dependent on the level of R & D activities, R & D activities observed for two of the most important point: First, how the economic benefits of R & D activities; Furthermore, is senior research and development activities for the attitude, whether we can recognize that the current market limits to growth and plan ahead.
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