UWarren Buffett uhlala engomunye wabantu abacebe kakhulu emhlabeni, enenani elifanele lama- $ 80,8 billion kusukela ngo-Okthoba 2019. Lokhu kumenza abe ngumuntu wesithathu ocebe kakhulu emhlabeni. UBuffett uphethe inani lakhe eliphelele esitokisini eBerkshire Hathaway naseBerkshire Hathaway, inkampani yokutshala imali ayisungule. IBerkshire Hathaway isebenza njengemoto yakho yokutshala imali, utshala imali ezintweni ezinjengamasheya, ingcebo, namandla avuselelekayo.
Kodwa-ke, uBuffett ube nesiqalo esilinganiselwe, esidale indlela abheka ngayo ukuphatha imali. Wazalelwa e-Omaha, eNebraska, ngo-1930, futhi leli dolobha belilikhaya lakhe kusukela lapho.
Ukusebenza njengomthengisi wokutshala imali, wayenekhono lokutshala imali futhi ekugcineni wakha iBerkshire Hathaway enkampanini namuhla. Usahlala endlini ayithenga ngo-1958 ngo- $ 31.500.
Berkshire Hathaway
Iningi lomcebo kaWarren Buffett uboshelwe kuphothifoliyo yokutshalwa kwezimali yaseBerkshire Hathaway. Imibiko esuka ku-2004 kuya ku-2019 ikhombisa ukuthi isiteki sikaBuffett kumasheya eBerkshire Hathaway singama-350.000 Class A amasheya no-2.050.640 amasheya ka-Class B. Eminyakeni edlule uBuffett unikele ngesamba esikhulu samasheya akhe kunhlangano esiza abantulayo. Amarekhodi alo akamuva kakhulu we-13-D akhombisa ukubanjwa kwawo kusigaba A samasheya ngamasheya angama-259.394 kanye namasheya ekilasi B lawo angama-65.129. Kusukela ngoMashi 13, 2020, i-BRK.A ibidayisa ngo- $ 289.000 kanti i-BRK.B ngo- $ 196,40.
Inani likaBuffett lalingama- $ 1 million nje kuphela lapho eneminyaka engu-30, ikakhulukazi enesitoko saseBerkshire Hathaway. Ngokutshalwa kwezimali okuhlakaniphile, wakhulisa isitoko senkampani kusuka ku- $ 7,60 ngawo-1960 kuya ezingeni lanamuhla. Lokhu kukhuphuka kwamandla entengo yamasheya kungumshayeli ophambili wokukhuphuka kwenani likaBuffett kumanani amashumi ambalwa edlule.
UWarren Buffett wathenga amasheya akhe okuqala eneminyaka engu-11, amasheya ayisithupha ku- $ 38 lilinye enkampanini ebizwa ngeCities Service Preferred, ayithengisa eminyakeni embalwa kamuva ngo- $ 40 ngesabelo.
Iphothifoliyo yesitoko
Ngaphezu kokusebenza njengosihlalo weBerkshire Hathaway kanye nesikhulu esiphezulu (i-CEO) futhi engomunye wabaninimasheya abakhulu kunabo bonke, uBuffett usebenzisa le nkampani njengemoto yakhe yokuqala yokutshala imali, eqhuba ukuthengisa kwakhe okuningi nokuthengwa kwamasheya njengokwenziwa kwebhizinisi. Le phothifoliyo yakha iningi lotshalo-mali lwakho lwama-equity.
Umtshalizimali uyaziwa ngenzuzo yakhe nangendlela yokubaluleka ekutshaleni imali, futhi iphothifoliyo yakhe ikhombisa umbono wakhe. Kusukela ngoDisemba 31, 2019, iphothifoliyo yaseBerkshire Hathaway ibifanele cishe ama- $ 194.910 billion. Izisindo ezinkulu kakhulu zephothifoliyo zazise-Apple (AAPL), Bank of America Corp (BAC), naseCoca-Cola Company (KO). Sezihlanganisiwe, lezi zinkampani ezintathu zenza u-56% wezigxobo.
Njengephesenti lokutshalwa kwezimali, iBerkshire Hathaway ingumtshali zimali omkhulu kwezemali ku-38%, ilandelwa yi-26% kwezobuchwepheshe kanye ne-15% ekumeleleni abathengi. Eminye imikhakha ephothifoliyo ifaka phakathi izimboni, ama-cyclicals wabathengi, ukunakekelwa kwezempilo, amandla, izinsizakalo zokuxhumana, izinto eziyisisekelo kanye nezindlu.
Izinkampani ezingaphansi
Ngaphezu kwamasheya, iBerkshire Hathaway yaziwa futhi njengenkampani ephethe. Le nkampani inezinkampani ezingaphansi kuka-65 ezigxile emshuwalense nakwizakhiwo. Ezinye zezinkampani ezingaphansi kwayo zifaka phakathi i-GEICO Auto Insurance, iClayton Homes, nama-See's Candies.
Qhudelana ngaphandle kobungozi ngama- $ 100.000 ngemali ebonakalayo. Yethula ukuhweba endaweni ebonakalayo ngaphambi kokuba uqale ukubeka engcupheni imali yakho. Prakthiza amasu okuhweba ukuze kuthi lapho usukulungele ukungena emakethe yangempela, ube nomkhuba owudingayo. Zama i-stock simulator yethu namuhla.
Iseluleko sikaWarren Buffett sokutshala imali asiphelelwa yisikhathi. Ngilahlekelwe ukubalwa kwenani lamaphutha okutshala imali engiwenzile eminyakeni edlule, kepha cishe onke awela kwelinye lamabhakede ezeluleko eziyishumi zokutshalwa kwezimali uWarren Buffett anikeza ngezansi.
Ngokugcina iseluleko sikaBuffett sokutshala imali engqondweni, abatshalizimali bangagwema ezinye izingibe ezivamile ezilimaza ukubuya futhi zifake engcupheni imigomo yezezimali.
Izeluleko zokutshala imali ezivela kuW. Buffett
Ngemuva kokucabangisisa okuningi, ngizinze kuzeluleko zami eziyishumi zokutshala imali ezivela kuWarren Buffett ohlwini olungezansi. Yonke ingcweti yokuhlakanipha isekelwa okungenani okukodwa kwezingcaphuno zikaWarren Buffett futhi ilusizo kubatshalizimali abafuna ukuthola amasheya aphephile. Ake singene ngaphakathi.
1. Tshala imali kulokho okwaziyo… hhayi okunye.
Enye yezindlela ezilula zokwenza iphutha eligwemekayo ukuzibandakanya ekutshalweni okuyinkimbinkimbi ngokweqile.
Iningi lethu lichithe yonke imisebenzi yethu lisebenza ezimbonini ezimbalwa ezahlukahlukene.
Mhlawumbe sinokuqonda okuqinile okunengqondo kokuthi lezi zimakethe ezithile zisebenza kanjani nokuthi yiziphi izinkampani ezihamba phambili ezisendaweni.
Kodwa-ke, iningi lezinkampani ezithengiswa esidlangalaleni liyabandakanyeka ezimbonini lapho sinolwazi oluncane noma singenalo nhlobo.
Ungalokothi utshale imali ebhizinisini ongaliqondi. - UWarren Buffett
Lokhu akusho ukuthi asikwazi ukutshala imali kulezi zindawo zemakethe, kepha kufanele sisondele ngokuqapha.
Ngokubona kwami, iningi lezinkampani zisebenzisa amabhizinisi okunzima kakhulu kimi ukuwaqonda. Ngizoba ngowokuqala ukukutshela ukuthi angikwazi ukubikezela ukuphumelela komugqa wezidakamizwa wenkampani ye-biotech, ukubikezela umkhuba omkhulu olandelayo wemfashini ezingutsheni zentsha, noma ukukhomba intuthuko elandelayo yezobuchwepheshe ezokhulisa ukukhula kwama-chip semiconductor.
Lezi zinhlobo zezinkinga eziyinkimbinkimbi zithinta ngokwezimali inzuzo ekhiqizwa izinkampani eziningi emakethe, kodwa ngokusobala akunakulindeleka.
Lapho ngithola ibhizinisi elinjalo, impendulo yami ilula:
Kunezinhlanzi eziningi kakhulu olwandle ukucabanga ngokufunda inkampani noma imboni okunzima kakhulu ukuyiqonda. Kungakho uWarren Buffett ngokomlando egweme ukufaka imali emkhakheni wezobuchwepheshe.
Uma ngikwazi ukuthola ukuqonda okunengqondo kokuthi ibhizinisi lenza kanjani imali kanye nabashayeli abaphambili abathinta imboni yabo ngemizuzu eyi-10, ngidlulela embonweni olandelayo.
Ezinkampanini ezingama-10.000 + ezithengiswa esidlangalaleni laphaya, ngilinganisela ukuthi akukho ngaphezu kwezinkampani ezingamakhulu ambalwa ezihlangabezana nezindinganiso zami zobulula bebhizinisi.
UPeter Lynch wake wathi, "Ungalokothi utshale imali ngombono ongeke ukwazi ukuwufanekisa ngepensela."
Amaphutha amaningi angagwenywa uma sihlala embuthanweni wethu wamakhono bese siqhamuka necebo lokuwenza.
2. Ungalokothi ubeke engozini ikhwalithi yebhizinisi
Yize ukuthi "cha" kumabhizinisi nezimboni eziyinkimbinkimbi kuqondile, ukukhomba amabhizinisi asezingeni eliphezulu kunzima kakhulu.
Ifilosofi yokutshalwa kwezimali kaWarren Buffett iguqukele eminyakeni engama-50 edlule ukugxila kakhulu ekuthengeni izinkampani ezisezingeni eliphakeme ngamathuba athembisayo wesikhathi eside okukhula okuqhubekayo.
Abanye abatshalizimali bangase bamangale lapho bezwa ukuthi igama leBerkshire Hathaway livela kolunye lotshalomali olubi kakhulu lukaBuffett.
IBerkshire yayisembonini yezindwangu, futhi uBuffett walingeka ukuba athenge ibhizinisi ngoba inani lalibonakala lishibhile.
Ukholelwe ukuthi uma uthenga isitoko ngentengo ephansi ngokwanele, kuzoba nezindaba ezimnandi ezingalindelekile ezingakunika ithuba lokwehlisa isikhundla ngenzuzo enhle - noma ngabe ukusebenza kwebhizinisi isikhathi eside kusesabekayo .
Ngolwazi oluningi lweminyaka ngaphansi kwebhande lakhe, uWarren Buffett washintsha isimo sakhe sokutshala imali "ezinqeni zikagwayi." Uthe ngaphandle kokuthi ungumuntu ovala amanzi, leyo ndlela yokuthenga ibhizinisi iyisimungulu.
Intengo yoqobo "yokuthengiselana" cishe ngeke ivele ibe ukweba phela. Ebhizinisini elinzima, lapho nje inkinga eyodwa ixazululwa, kuvela enye. Lezi zinhlobo zezinkampani nazo zivame ukuzuza imbuyiselo ephansi, okuqhubeka nokuqothula inani lotshalo-mali lokuqala.
Le mininingwane iholele uBuffett ukuba enze lesi sicaphuno esaziwa ngokulandelayo:
"Kungcono kakhulu ukuthenga inkampani enhle ngentengo efanelekile kunenkampani efanelekile ngentengo enhle." - UWarren Buffett
Esinye sezibalo ezibaluleke kakhulu zezimali engizisebenzisayo ukukala ikhwalithi yebhizinisi ukubuyisela enhlokodolobha etshaliwe.
Izinkampani ezithola inzuzo ephezulu enhlokodolobha etshalwe kumabhizinisi azo zinamandla okukhulisa inzuzo yazo ngokushesha kunezinkampani ezingenzi kahle. Ngenxa yalokhu, inani langaphakathi lalezi zinkampani lenyuka ngokuhamba kwesikhathi.
"Isikhathi ngumngani webhizinisi elimangalisayo, isitha sezinto ezingasho lutho." - UWarren Buffett
Imbuyiselo ephezulu ekulinganeni idala inani futhi imvamisa iyinkomba yezinkinga zomnotho. Ngincamela ukutshala imali ezinkampanini ezikhiqiza imali ephezulu (10% -20% +) nezimbuyiselo ezizinzile zedolobha elitshaliwe.
Esikhundleni sokuvumela isilingo sokuthenga isabelo semali ehlukanisiwe ngesivuno esingu-10% noma ukuthenga amasheya enkampanini ehweba "kuphela" izikhathi eziphindwe kasishiyagalombili emholweni wayo, qiniseka ukuthi konke kwenziwa kahle.
Ngakolunye uhlangothi lobubanzi, abanye abatshalizimali bahlukanisa ngokweqile amaphothifoliyo abo ngenxa yokwesaba kanye / noma ukungazi. Ukuba namasheya ayi-100 kwenza kube nzima ukuthi umtshali zimali azi njalo ngemicimbi yamanje ethinta izinkampani zabo.
Ukwehlukaniswa okweqile kusho nokuthi iphothifoliyo kungenzeka itshalwe kwizivumelwano eziningi eziphakathi, kunciphise umthelela wokubanjwa kwayo kwekhwalithi ephezulu.
Ukwehlukaniswa kuvikela ukungazi. Kunengqondo kancane kulabo abaziyo abakwenzayo. " - UWarren Buffett
Ukuchithwa
Mhlawumbe uCharlie Munger ukufingqe kangcono:
"Umqondo wokwehluka ngokweqile uyahlanya." - UCharlie Munger
Unamasheya amangaki? Uma impendulo ingaphezu kwama-60, ungacabanga ngokungathi sína ukunciphisa iphothifoliyo yakho ukuze ugxile ekubambeni kwakho kwekhwalithi ephezulu.
5. Izindaba eziningi umsindo, hhayi izindaba
Azisweleki izindaba zezimali ezifika ebhokisini lami lokungenayo nsuku zonke. Yize ngingumfundi odumile oyinhloko, ngilahla cishe lonke ulwazi engilunikiwe.
Umthetho ka-80-20 uthi cishe u-80% wemiphumela ungabangelwa u-20% wezimbangela zomcimbi.
Uma kukhulunywa ngezindaba zezezimali, ngingathi kufana kakhulu nomthetho we-99-1 - ama-99% wamasheya okutshalwa kwezimali esiwathathayo kufanele abhekiswe ku-1% kuphela wezindaba zezezimali esizidlayo.
Iningi lezindaba ezisematheni nezingxoxo kuthelevishini zikhona ukudala ukubhuza nokushukumisa imizwa yethu ukwenza okuthile - noma yini!
“Kodwa-ke abaninimasheya bavame kakhulu ukuvumela imikhuba engenamqondo futhi evame ukungenangqondo yabanye abanikazi ibenze baziphathe ngokungenangqondo. Ngoba kukhulunywa kakhulu ngezimakethe, ezomnotho, amanani enzalo, indlela yokuziphatha kwamanani esitoko, njll., Abanye abatshalizimali bakholelwa ukuthi kubalulekile ukulalela ochwepheshe - futhi, okubi nakakhulu, kubalulekile ukucabangela ukwenza. ngokusho kwakho. " - UWarren Buffett
Izinkampani engigxile ukutshala kuzo kuze kube manje zimelane nesikhathi. Abaningi sebesebhizinisini iminyaka engaphezu kwekhulu futhi babhekane cishe nazo zonke izinselelo ezingalindelekile ongazicabanga.
Cabanga ukuthi zingaki "izindaba" ezingezinhle ezavela kukho konke ukuphila kwabo kwezinkampani. Noma kunjalo, basamile.
Ngabe kunendaba ngempela ukuthi iCoca-Cola ilahlekelwe izilinganiso zenzuzo yekota ngo-4%?
Ngabe kufanele ngithengise isikhundla sami kuJohnson & Johnson ngoba isitoko sehle ngo-10% selokhu ngathenga okokuqala?
Ngokwehla kwentengo kawoyela kwehlisa inzuzo ye-Exxon Mobil, kufanele ngithengise amasheya ami?
Impendulo yale mibuzo icishe ibe ngu "cha" ozwakalayo, kepha amanani entengo angahamba kakhulu njengoba kuvela lezi zinkinga. Abezindaba zezimali nabo kufanele baqhume lezi zihloko ukuze bahlale bebhizinisi.
"Khumbula ukuthi imakethe yamasheya iyinkinga yokudangala." - UWarren Buffett
Njengabatshalizimali, kufanele sizibuze ukuthi ngabe izindaba zezindaba zinomthelela ngempela emandleni okuhola isikhathi eside enkampanini yethu.
Uma impendulo ithi cha, kufanele senze okuphambene nalokho okwenziwa yimakethe (isibonelo, i-Coca-Cola iwela ku-4% embikweni odumazayo wemali etholwayo obangelwa izinto zesikhashana - cabanga ukuthenga isitoko).
Imakethe yamasheya ingamandla amakhulu futhi angalindelekile. Kufanele sizikhethe kakhulu izindaba esizikhetha ukuzizwa, ingasaphathwa eyokuthatha isinyathelo. Ngokubona kwami, lokhu kungenye yezeluleko ezibaluleke kakhulu zokutshala imali.
6. Ukutshala imali akuyona i-rocket science, kepha ayikho "inkinobho elula"
Mhlawumbe omunye wemibono eyiphutha enkulu mayelana nokutshalwa kwezimali ukuthi abantu abanobuchwepheshe kuphela abangakhetha ngempumelelo amasheya.
Kodwa-ke, kungashiwo ukuthi ubuhlakani obungavuthiwe bungesinye sezici ezibikezelayo zokuphumelela kotshalomali.
Akudingeki ukuthi ube usosayensi we-rocket. Ukutshala imali akuwona umdlalo lapho umfana one-IQ ka-160 eshaya umfana nge-IQ ka-130. " - UWarren Buffett
Akuthathi usosayensi we-rocket ukulandela ifilosofi kaWarren Buffett yokutshala imali, kepha kunzima ngokuphawulekayo kunoma ngubani ukuthi aqhubeke nokushaya imakethe futhi agweme ukungaziphathi kahle.
Okubaluleke ngokulinganayo, abatshalizimali kumele bazi ukuthi ayikho imithetho yemilingo esethiwe, ifomula, noma "inkinobho elula" engaletha imiphumela engaphandle kwebhokisi. Ayikho futhi ayisoze yaba khona.
Abatshalizimali kufanele bangabaze amamodeli asuselwa kumlando. Eyakhelwe ubupristi obuzwakala buhle… lezi zinhlobo zivame ukubukeka zihlaba umxhwele. Noma kunjalo kaningi, abatshalizimali bakhohlwa ukuhlola ukucabanga okungemuva kwamamodeli. Qaphela ama-nerds agqoka amafomula. - UWarren Buffett
Noma ngubani othi unalo lolu hlelo ngenhloso yokuqhubekisela phambili ibhizinisi uyisidididi kakhulu noma angcono kakhulu kunomthengisi wamafutha enyoka encwadini yami. Qaphela "izikhulu" ezizibiza ngokuthengisa ngohlelo lokutshala imali olungenazandla. Uma uhlelo olunjalo belukhona ngempela, umnikazi ubengeke abe nesidingo sokuthengisa izincwadi noma okubhaliselwe.
"Kulula ukukhohlisa abantu kunokubakholisa ukuthi bakhohlisiwe." - UMark Twain
Ukunamathela kusethi ejwayelekile yemigomo yokutshala imali kulungile, kepha ukutshala imali kusengubuciko obunzima obudinga ukucabanga futhi okungafanele buzizwe kulula.
8. Ukuhamba okuhle kakhulu kuyisidina.
Ukutshala imali emakethe yamasheya akuyona indlela yokuceba ngokushesha.
Uma kukhona, ngicabanga ukuthi imakethe yamasheya ingcono ekukhuleni ngokulingene imali yethu ekhona esikhathini eside.
Ukutshala imali akuhloselwe ukuthi kujabulise, futhi izinzuzo ezikhulayo ngokutshala imali ikakhulukazi kuyisu elilondolozayo.
Esikhundleni sokuzama ukuthola ozowina omkhulu olandelayo embonini evelayo, kuvame ukuba ngcono ukutshala imali ezinkampanini esezivele zikufakazele ukubaluleka kwazo. Ukuba namasheya ayi-100 kwenza kube nzima ukuthi umtshali zimali akwazi ukuhambisana nemicimbi yamanje.