Dzidza kuti Sei Kutengeswa Kwava Kuwedzera / Pasi Panokosha
Chii chakasiyana? Mumwe mutengesi mumwe munhu anonyatsotarisa kambani, anosarudza chaizvo zvakakosha, uye haazotengi chikwama kunze kwekuti chiri kutengesa pane zvakanyanya kubhadhara kusvika kune zvakakosha .
Vanogona kutaura, semuenzaniso, kuti "Company 'X' inotengeserana $ 48 negawani, asi inokwana $ 62 negawani." Vanoita sarudzo dzavo kuburikidza nedzimwe nhoroondo uye havabvumi kuti manzwiro avo aite. A speculator ndeye munhu anotenga sengo kune chimwe chikonzero.
Kazhinji, vachatenga zvikamu mune imwe kambani nokuti vari "kutamba" (iyo imwe nzira yekureva sangano iri kuve yakakwirira kudarika izwi rakarese uye zvikamu zvaro zvinogona kuwanikwa kana kutengeswa nemasangano). Vanotenga chikwata kwete pamusana pekuongorora kwakanyatsotarisa, asi pane mukana, iyo inomuka kubva kune chimwe chinokonzera kunze kwekucherechedza kwezvakakosha zvayo.
Kuzvifungidzira pachako hakusi iyo inyanzvi, asi avo vanobatanidzwa vanofanira kunge vachida kugamuchira chokwadi chokuti vari kutengesa guru ravo. Kunyange zvazvo zvingave zvinobatsira munguva pfupi (kunyanya panguva yemabhizimisi emombe), iyo inowanzopa hupenyu hwose hwekusagadzikana mari kana kudzoka.
Inofanira kunge yakasara kune avo vanogona kukwanisa kurasikirwa nezvose zvavari kuisa pamatanda.
Mhando idzi mbiri dzakasiyana dzinobata sei mutengo wematengo? The speculator inotengesa mitengo kuti iwedzere, asi mutengesi (uyo anowanzovatengesa apo speculator inotenga uye inotenga apo shanduro inotengesa) inosvika kunze kwemusika, saka kupfuura kwenguva yakareba, mutengo wematengo unoratidza hunokosha hwekambani.
Kana munhu wose aitenga mashizha akafanana aiva mutengesi, mushamba wega wega wega waizoita zvakanyanyisa kupfuura zvazviri. Nhandare ingatengwa uye inotengeswa zvichienderana nekukosha kwebhizimisi. Mutengo wekudengenyeka kwenyika yaizoitika zvakanyanya kudarika nokuti nokukurumidza apo kuchengetedzwa kwakaonekwa kusingakoshi, vatengesi vaizoitenga, vachifambisa mutengo kusvika kune mamwe maonero akanaka.
Apo kambani yakave yakanyanyisa, yaizotengeswa nokukurumidza. Vafungidziri, kune rumwe rutivi, ndivo avo vanobatsira kusimbisa kushaya mari iyo kukosha kwekuda mari inoda. Sezvo vachitenga zvikwereti zvakatevedzerwa dzimwe nguva zvishoma pane zvese, vanokwanisa kutengesa nokuda kwechikonzero chimwe chete.
Izvi zvinotungamirira kumatokari kunoshamisa zvikuru apo munhu wose anofarira uye asina kukodzera kusaruramisira paanenge asingachazivi. Iyi manic-kuora mwoyo kunounza mukana wekuti titore makambani ari kutengesa zvishoma kudarika zvavanofanira.
Izvi zvinotungamirira kukutenda kwakakosha pakati pekukosha kwevatengesi kuti kunyange zvazvo misika yepamusoro inogona, munguva shomanana, yakasununguka ichibva kune zvinokosha zvebhizimisi, munguva yakareba zvisizvo ndizvo zvose zvinokosha. Ichi ndicho chikonzero chakasimudzwa nemukurumbira Ben Graham kudzokorora "Munguva pfupi, misika ndeyekuvhota, munguva yakareba, imwe yepamusoro."
Zvinosuruvarisa, vamwe vanoramba ichi chirevo chekutanga pamusika. Mwedzi dzinoverengeka yapfuura, ndakagamuchira email kubva kune muverengi uyo akataura kuti "hupfumi hwekambani yekambani hauna hukama nemutengo wematengo." Izvi zvachose nhema. Mhinduro yangu yaiva mharidzo yakajeka iyo yaiverenga "Kana zvinyorwa zvisingabatsiri, zvakadini kana Coca-Cola asina kutengesa rimwe bhodhoro reCoke?
Panoiswa muchiedza ichi, upenzi hwe "zvakakosha hazvina basa" hunova pachena. Nguva inotevera kana mumwe munhu achiparidza izvi, kungobvunza kuti "chii chinoitika kune zvigadzirwa kana kambani isingakwanisi kubhadhara uye yakasvibiswa pamitengo yayo?" Apo pavanopindura "zvinokanganisa", kungosemwerera uye kufamba. Zvinhu zvinokosha zvinokosha.
Zvinosuruvarisa, vatengi vasingaverengeki vanodavira nheyo iyi gentleman anoita.
Muenzaniso wakakwana weiyi ndiyo dot-com boom yekupera kwema1990. Makambani asina kuita purogiramu uye akanga asina zvishoma, kana aine, kukosha kwebhuku kwaiva kutengesa pane zvidzidzo zvezvedzidzo. "Zvechokwadi izvi zvinoratidza kuti izvo zvinokosha hazvirevi chinhu," vamwe vangapopotedzana.
Pane zvakasiyana, zvinoratidza pfungwa yedu zvachose. Makore mashomanana mashomanana mushure mekutanga mabhizimisi emabhizimisi emabhizimisi ematengesi, zvisizvo zvezvemari zvemakambani aya akadzoka kuti avabatsire. Yakawanda yakawa 90% kana kupfuura kubva kune yakakwirira, uye vakawanda vachizoputsika, pakupedzisira zvakakosha kudarika pepa vheti dzavo dzekutengesa dzakadhindwa.
Peji ino chikamu chekutsvaga Chidzidzo chechipiri - Chii chinoita kuti zvikwereti zvivepo kana kuti zvakakosha .