Chikamu chebhengi chikamu chakanakisa chemari sezvo kuvapo kwayo kuchitora kutarisisa kwechikamu chakanaka chevashambadzi vadiki nepakati. Nebasa rakakura mukutsinhana kwekuchengetedzeka munzvimbo dzese dzekutengesa uye dzinoona shanduko chaiyo yesarudzo inosarudzika yemusika weSpanish wemusika. Nemitengo yekukosha kweBBVA, Santander, Sabadell kana Bankinter iyo yakadzikira zvakanyanya mumwedzi ichangopfuura nekuda kwekuwedzera kwecoronavirus. Kunyangwe zvakadaro, hazvigone kukanganwika kuti mazhinji acho akabatanidzwa kunge machipisi ebhuruu emisika yezvemari uye aine huwandu hukuru hwezvibvumirano. Kunge ivo vanozivikanwa nekuve chaiwo emvura tsika iyo inobvumidza kupinda nekubuda munzvimbo dzayo neyakareruka.
Chikamu chebhangi chinozivikanwawo nekuve nemakambani ane hukasha nehurefu hwakawanda. Masoko anotarisira kuti vanodzora vadzikise izvo zvavanofunga seyakakwirira danho rekupindira muchikamu, zororo mune akasiyana bharanzi sheet ratios. Kuve chimwe chezvinhu zvakagadzira kuti hunhu hwavo hwarasikirwa nekukosheswa kwavo mumisika yequity kwemakore mashoma. Kunyangwe kubvira iyo coronavirus yakapararira pasirese pakave nemamiriro matsva umo mabhanga, ayo akatobayira zvikamu zvegore rino, achida zvimwe zvivimbiso zvekuti zvikwereti zvavanopa zvichavatora. Zvichipa njodzi yekukanganisa kwakagadzirwa mune ino nyowani mamiriro.
Kune rimwe divi, mutengo wavo wadonha kusvika padanho rekuburitsa shoma kwazvo fungidziro mitengo kusvika mwedzi mishoma yapfuura. Iko mamwe acho ari pazasi peyuniti yeyuro uye aine tarisiro shoma yekupfuura aya mazinga mumatengo. Nekuderedzwa kwakakosha kwazvo kune vashoma uye vepakati varimi vatora zvinzvimbo zvavo mumisika yequity yenyika yedu. Nekuti, pamusoro pezvo, iyo chikamu chiri mune yakajeka nzira, uye chii chakanyanya, pamashoko ese: mapfupi, epakati nepakati. Kuburikidza nekutengesa kwazvino hakuwanzoonekwa muzvikamu zvekupedzisira pamusika wemasheya uye izvo zvave kutungamira kwavari kusave chinhu mukushanda kwevashandisi vemusika wemasheya.
Mabhangi chikamu chakaipisisa muIbex 35
Chero zvazvingava, pane chinhu chimwe chechokwadi uye icho ndechekuti chikamu chemari ndicho chakaipisisa pagore maererano nesarudzo yakasarudzika yemari muSpain, iyo Ibex 35. Nekuderera kuri pamusoro pe35% uye mune zvimwe zviitiko kunyangwe kupfuura 50% yasara kumashure. Mune mamwe mazwi, yanga isiri chibvumirano chakanaka kune vese vadiki nepakati varimi. Iko kwavakarasikirwa kusvika parizvino chikamu chakanaka chesevha yakachengetwa mumapoka emari aya. Pamusoro pemamwe matunhu akakodzera, akadai sekuvaka, magetsi kana matekinoroji matsva. Kubva pane ino mamiriro, hapana imwe mhinduro asi kumirira uye kuona kuti aya makambani akanyorwa anoshanduka sei kuti vakwanise kutengwa nemitengo yakagadziridzwa uye yemakwikwi kupfuura kusvikira zvino.
Nepo kune rimwe divi, hazvigone kukanganwika kuti masheya aya ane njodzi dzakakomba chaizvo nekuda kwekusagadzikana kwavo kukuru uye kuti ndivo vari pamberi pamatanho ese emusika wemasheya. Nemusiyano wakakura pakati pemitengo yayo yepamusoro uye yepasi uye iyo muzviitiko zvakawanda inogona kutungamira kumatanho akakomberedza 5% uye mune dzimwe nguva nekuwedzera kusimba. Aya mamiriro akaodzwa moyo zvakanyanya kune vashoma nevapakati varimimari vane dziviriro yakawanda kana vanochengetedza avo vasingatenderi iyi mhando yekuchinja mumisika yemari. Kunyangwe pane zvinopesana, zvakanyanya kukodzera kune vatengesi vanogona kuita kwavo kuchengetedza kunobatsira mune pfupi pfupi nzvimbo yenguva. Mune chii chiri shanduko mutsika dzevashandisi veiyi kirasi yezvigadzirwa zvemari.
Maitiro ecyclical
Iyi kirasi yemakambani akanyorwa ndeimwe yeakakura akarasikirwa gore rino sezvo mabhizinesi avo akadonha zvakanyanya. Nekuderera kwegore negore kwakakomberedza 45%, iri kutaura zvakawanda kwehafu yekutanga yegore. Asi isu hatigone kukanganwa kuti iri kirasi rekuchengetedzeka rinoonekwa pamusoro pezvose nekuti vanoita zvirinani munguva dzekukura uye pasi pane mamwe ese munguva dzakawandisa. Uye saka zviri kunyatso kutevedzera mutemo uyu unogara uchionekwa mumisika yemari. Uye saka hakuzove nesarudzo kunze kwekudzivirira zvinzvimbo zvavo panguva ino. Nekuti tinogona kuve nekumwe kushamisika kwakashata kubva zvino zvichienda mberi.
Nepo kune rimwe divi, zvinofanirwa kusimbiswa kuti macircical securities anowanzo kutengeserana nekusagadzikana kukuru kupfuura vamwe vese. Hazvishamisi kuti ichi ndicho chimwe chezviratidzo zvaro zvinonyanya kuzivikanwa uye kuti iwe unofanirwa kuongorora kuti uzive kusimba kwekudonha kwayo kungave uye wosarudza kusaisa munzvimbo dzayo pamusika wemasheya. Kubva pane ino maonero, hapana imwe sarudzo kunze kwekurega mukuita sarudzo, zvirinyore maererano nenguva pfupi. Mupfungwa iyi, inofanirwa kuyeukwa kuti iyo yakasimba iyo, hupfumi hunowedzera kuva hwakasimba. Asi sezvo chikamu chinopera simba, sekuratidzwa nezviitiko zvinotungamira kusvika panguva ino, mamiriro anogona kuve akaomera vatyairi.
Mira kwekanguva
Iyo yakanakisa nzira yekudyara iyo varimi vane parizvino ndeyekumirira, kumirira uye kumirira. Ivo havana sarudzo kana vachinyatsoda kuchengetedza zvinzvimbo zvavo mukirasi ino yekuchengetedzeka. Nekuti chero kutsvedza kungakonzera kuti vasiye ma euro akawanda munzira uye nekudaro ivo vanofanirwa kutora matanho kutarisana nemamiriro ezvinhu akaomarara aari kupihwa mumwedzi iyi yakaoma yemisika yekutengesa uye kunyanya kune kuchengetedzeka kwebazi. Pamusoro pezvo hapana zvisiyano zvechero izvo zvehunyanzvi zvine njodzi kune vese uye nekudaro hazvibvumidze hunhu hwakachengeteka mukati memusika mumwe chete wemasheya.
Kune rimwe divi, isu tinofanirwa zvakare kuongorora chokwadi chekuti chikamu chebhizinesi ichi chinotambura nekushomeka kukuru. Ivo havazi vatsva, asi nekusiyana ivo vanga vachivazvuzvurudza kwemakore akati uye ichi ndicho chimwe chezvikonzero nei kukosha kwavo pamusika wemasheya kwakadzikira mumakore maviri apfuura. Zvirinani kumirira vashoma kuti vatange kutenga masheya kuitira kudzivirira mamiriro asingadiwe echikamu chikuru chevatengesi. Hazvishamisi kuti panguva ino kusagadzikana kwawedzera uye kunogona kukonzera tsinga kuti dziwonekwe nenzira yekujekesa kumamiriro ezvinhu atiri kusangana nawo panguva ino yehupenyu hwedu. Iko kungwarira kunofanira kukunda pamusoro pehumwe hunyanzvi hwekufunga.
Chii chinonzi kukosha kwekudyara?
Value investing zano rinoshandiswa nevanhu vanosarudza masheya anoita kunge ari kutengesa zvishoma pane yavo yemukati kana kukosha kwebhuku. Kukoshesa varimi vemari vanotarisa masheya mune iyo mutengo wemusika usinga nyatso kuratidza ramangwana kuyerera kwemari kwe bhizinesi. Vaya vatengesi vanotenda chaizvo kuti masheya avanosarudza haana kukosheswa nemusika. Ivo vanowanzo nehasha kutenga masheya panguva imwechete sevamwe vanovatengesa, panguva dzenhau dzakaipa, kusaita zvakanaka, kana kusimba kwemamiriro ehupfumi. Asi kana vanhu vazhinji vadzingirira masheya ayo ari kukwira kumusoro, vanokoshesa vanoita mari vanoita zvinopesana: Vanotengesa.
Koshesa varimi vemari vanotarisa pazvinangwa zvenguva refu pane kuita kwenguva pfupi. Kushungurudzika mumusika wakakura kana pane imwechete equity base ndizvo zvinogadzira mikana yevanokosha vatengesi kuti vatenge pane zvinokwezva zvaderedzwa. Chikamu chebhengi chine hunyanzvi kune iro bhizinesi kutenderera, zvichiita kuti riitwe nemutengo uye kukosheswa kwakanyanya kunokwezva vemari vanokosha.
Chikamu chebhangi
Bhengi kana rezvemari rinosanganisira makambani anopa rubatsiro rwemari kune vatengi. Izvi zvinosanganisira mabhizimusi ekutengesa, makambani einishuwarenzi, uye makambani emabasa ekudyara. Ichi chikamu chine simba rakakura pahupfumi. Iyo yakasimba iyo, iyo yakasimba hupfumi hunova. Asi sezvo chikamu chinopera simba, sekuratidzwa nezviitiko zvinotungamira kune Kuderera Kukuru Kwehupfumi, hupfumi hwatanga kutevedzera. Naizvozvo, hupfumi hune hutano uye hwakadzikama hunoda chikamu chakasimba chemari uye chebhengi.
Mazhinji masheya mune ino chikamu anobhadhara zvikwereti, izvo vazhinji vanokoshesa vatengesi vanotenda chiratidzo chakanaka chehunhu hwekambani. Iyo yakareba iyo dhivhidhiyo nhoroondo, zvirinani kune investor, sezvo zvichiratidza yakanaka track rekodhi yekubudirira. Zvinoratidza zvakare kuti kambani iyi ine nhoroondo yekupa varimimi mugove webatsiro.
Ipfupi-yenguva yekudyara vs. nguva refu
Maonero eanokosha investor anogona kunzwisiswa zvakanyanya kuburikidza nerondedzero yevakawanda vane ruzivo varimari mumusika wemasheya semuchina wekuvhota-wenguva pfupi, asi wekureba uremu muchina. Zvinorehwa nedimikira iri nderekuti munguva pfupi, mitengo yemari inotsanangurwa nemanzwiro nemafungiro evatori vechikamu mumusika. Asi mukufamba kwenguva, mutengo unofambiswa nekuita chaiko kwekambani.
Graham anoonekwa kunge baba vekukosha kwekudyara, achisimbisa kutarisisa kune kwenguva refu-kukosha kwesitoko. Tichifunga nezvekuti masheya emabhangi anogona kunge ari anotapurwa neaya masimba epfupi-epfungwa, achipihwa huremu uye hunhu hwebhizinesi, zvinongoitika kuti vanokoshesa makambani vanokwezva kunharaunda iyi.
Koshesa vatengesi vanotsvaga masheya ane yakaderera mutengo-kune-mihoro (P / E) muyero. Dzimwe nguva kana bhizinesi riine dambudziko, rinogona kunge riri kurasikirwa nemari, zvichiita kuti chiyero ichi chisanyanya kubatsira pane kutengesa kana kumahombekombe akakomba. Chimwe chiyero chekukosha iwo mutengo-muhoro reshiyo (P / B). Iko kukosha kwebhuku rekambani kunoratidza kukosha kwebhuku rekambani mushure mekuverenga kune ese marudzi ezvikwereti.
Masheya anopisa kutarisana nemusika wemasheya muzhizha
Izvi pasina mubvunzo richava atypical zhizha revadiki nepakati varimi nekuda kwemamiriro ezvinhu azvino amuka.
Mabhangi anogona kuratidzika semabhizimusi akaomesesa, uye munzira dzakawanda ivo. Nekudaro, iwo ekutanga mazano kumashure kwebhizimusi rebhangi uye nemabhizimusi aya ekuti aite mari yavo zviri nyore kunzwisisa. Uine izvo mupfungwa, heino mhedziso yemhando dzakasiyana dzemabhangi, mamwe akakosha emametari vatengesi vanofanirwa kuziva, uye matatu makuru ekutanga emabhangi masheya kuti ugare pane yako radar.
Iwo matatu mapoka emabhizinesi emabhangi
Mabhangi ezvekutengesa: Aya mabhangi anopa masevhisi kune vatengi nemabhizinesi, senge kutarisa uye kusevha maakaundi, zvikwereti zvemotokari, zvikwereti zvemari, zvitupa zvekuisa, nezvimwe. Nzira huru iyo bhizinesi rekutengesa rinoita mari yayo ndeyokukwereta mari pamutero wakaderera uye kuikweretesa kune vatengi pamwero wakakwirira. Nepo mabhizimusi ekutengesa achigadzira mazhinji emari yavo kubva pamari yemubereko, vazhinji vanounganidzawo mari yakakosha kubva kumabhadhariro echikwereti, maATM ekuwedzera, uye mari yekuchengetedza account
Mabhangi ekudyara: Aya mabhangi anopa mabasa ekudyara kune vatengi vemasisitimu uye vanhu vane simba rakakwirira rekutenga. Mabhangi ekudyara makambani anobatsira mamwe makambani kuenda kuruzhinji kuburikidza nekutanga kupa veruzhinji, kuburitsa chikwereti chengetedzo uye kuraira pakubatanidzwa nekutenga, uye kuwana makomisheni ezvese izvi zvinhu. Mari dzekudyara zvakare dzinowanzoita mari kubva kumatengesi ekutengesa, akachengetedzeka mari dzekuchengetedza, mari, uye zvigadzirwa. Ivo zvakare vanowanzo kuve nehupfumi manejimendi manejimendi uye kazhinji vane yakawanda mari yekudyara mapoto avo.
Yese mabhengi: Bhengi repasirese ndere iro riine bhizimusi uye yekudyara banking mashandiro. Mazhinji emabhangi makuru eAmerica mabhanga epasirese. Nepo mabhangi ezvokutengeserana achiwana mizhinji yemari yavanowana kubva pamari yemubereko uye mabhanga ekudyara achivimba zvakanyanya pamubhadharo wemari, mabhanga epasirese anofarira musanganiswa wakanaka wezvose zviri zviviri.
Zviripachena idzi idudziro dzakareruka. Mabhangi ane dzimwe nzira dzakawanda dzekugadzira mari. Semuenzaniso, mabhanga mazhinji anopa mabhokisi akachengeteka ekuti vahaye kune vatengi vavo, uye vamwe vanoita mari kuburikidza nekudyidzana nemakambani echitatu-bato. Nekudaro, zvakadzika pasi, idzi ndidzo nzira huru dzekuti mabhangi agadzire mari yavo.
3 Yepamusoro Bhangi Zviito Zvekuisa pane Rako Radhi muna 2020
Mazana emabhangi anotengesa pamakambani makuru eU.S., uye anouya muhukuru hwakasiyana, nzvimbo dzenzvimbo, uye tarisiro. Nepo paine dzimwe sarudzo hombe munzvimbo inosimudza mari, heano matatu ekutanga emabhangi masheya anogona kupa kudzoka kukuru kwemakore anotevera.
- Bank of America (NYSE: BAC)
- JPMorgan Chase (NYSE: JPM)
- US Bancorp (NYSE: USB)
Yakakosha Metrics yeBhangi Stock Investors
Kana iwe uri kutsvaga kuisa mari mune yega bhangi masheya, heano mamwe mametric iwe aungade kuwedzera kune rako rekushandisa.
Mutengo kuBhuku Kukosha (P / B): Iyo yakanakisa yekuyera metric yekushandisa nemabhangi masheya, mutengo-ku-bhuku kukosha, kana P / B, inoratidza huwandu hwakawanda bhangi rinotengesa zvine chekuita nemambure akakosha epfuma yako. Inogona kushandiswa mukubatanidzwa pamwe nemari yemubhadharo yakatariswa pazasi kupa pfungwa yakajairika yekuti mashandiro emabhangi emari yakachipa zvakadii kana kuti anodhura sei.
Kudzoka paEquity (ROE): Yekutanga pamatanho maviri akajairika emubhadharo anoshandiswa nemasheya emabhangi, kudzoka ku equity ibhenefiti yebhangi inoratidzwa sepesenti yevagovani vayo. Iyo yepamusoro iri nani; 10% kana kupfuura inowanzoonekwa seinokwana.
Kudzoka pane Asset (ROA): Iyo purofiti yebhangi seperesenti yemidziyo pane yayo bhajeti. Semuenzaniso, kana bhangi rikaita purofiti yemadhora bhiriyoni muna1.000 uye raive nemadhora zana emabhirioni epfuma, kudzoka kwayo pazvinhu kwaizove 2020%. Vashandi vanowanzoda kuona ROA ye100.000% kana kupfuura.
Kubudirira kwehuwandu: Bhengi rehuwandu hwekuita chikamu chikamu chinotaurira vatyairi kuti imarii iyo bhangi yakashandisa kugadzira mari yayo. Semuenzaniso, chikamu che60% chekuita chinoreva kuti bhangi rakashandisa madhora makumi matanhatu pamadhora zana emari yavakawana. Chiyero chekugona chinowanikwa nekukamura mari yemubhadharo (yemitengo yekushandisa) nemari yemubhadharo, uye yakaderera iri nani.