저자: 짐크레이머 · 외국인
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이 영상은 월가 용어를 쉽게 풀어주는 '투자 용어 사전' 성격의 방송이다. 핵심 메시지: 금융업계는 개인이 투자를 어렵다고 믿게 만들어 고액 수수료를 받으려 하므로, 용어를 익혀 직접 종목을 고르는 것이 가능하다. 경기민감주(cyclical)와 경기방어주(secular)의 구분: 경기민감주는 금속·광업·석유가스·원자재·산업재·건설·자동차 등으로 경기 확장기에 실적이 크게 늘고 침체기에 급감한다. 경기방어주는 식품·생활용품·제약 등으로 경기와 무관하게 실적이 꾸준하다. 전략 함의: 경기 둔화 때는 경기민감주가 크게 하락하므로 방어주 비중을 늘리고, 경기 호황이 보이면 경기민감주 비중을 높이라는 것이다. 다만 포트폴리오에는 두 유형을 함께 담고 분산하라고 강조한다. 섹터 영향: 과거에는 개별 종목 성과의 약 50%가 섹터에서 왔으나 섹터 ETF 확산 이후 섹터 영향력은 더 커졌다는 취지다. 자산배분 Q&A: 60/40 룰에 대해 젊은 세대는 주식 비중을 높게(60~70%대 이상) 가져가는 것이 낫다고 답한다. 장기 투자 시 한 번에 몰빵하지 말고 매달 분할 매수하는 방식을 권한다. 자녀 투자: 1세 자녀에게는 529 플랜에 저비용 S&P500 인덱스 펀드를 담으라고 조언한다. 직접 언급된 개별 종목 예측이나 특정 자산의 1~3개월 가격 방향 전망은 없다. 마무리: 투자는 어렵지 않으며 용어를 배우고 항상 분산투자할 것.
다듬은 글
er for you my job not just entertain but to put everything in context so call me 1800 743c tweet Kramer investing isn't easy but it can be a whole lot easier and much less daunting with a little instruction the whole business of managing your money is made infinitely more confusing by all the Arcane technology and authentic Wall Street gibberish you need the way through to learn anything about a stock or it's underline business if you're not inclued into the jargon it can sound like the professionals are speaking entirely different language you got to remember that there's an entire industry of people who need you to be happily convinced that investing's too hard for you that ordinary people just can't do it and that the safest thing to do is to give your money to a pro hey by the way that's a huge reason why I started my travel trust when you join the CNBC investing Club our goal is to show you that you can do it yourself and to teach you how it's done of course maybe giving your money a professional is right move for some of you of course may you don't have the time but if you put in a little effort if you do the homework then I think you can do at least as well as the pros or a lowcost Index Fund possibly the better comparison because in any given year a lot of the pros really lose the index funds the fact of the matter is that the financial industry is full of people who are just after your fees they're more interested in taking your money than in making your money and if you're a hedge fund or a mutual fund manager trying to fund raise you've got every incentive to keep regular people sadly ignorant why would they make any of this investing stuff sound accessible when they could make it sound impenetrable if it sounds too straightforward it's harder for them to raise money and harder to convince people convince you to pay high management fees they're kind of like The Wizard of Oz they don't want you peeking at the man behind the curtain they don't want you to understand because if you did then you'd take control of your own finances you'd pick your own stocks and not pay someone else it potentially exorbitant fees to do the things you perfectly capable of doing yourself and after all these years doing the show I know you can do it and that's where I come in see I'm pulling back the curtain and explaining everything because while authentic Wall Street gibbers can sound complex even impenetrable it's not rocket science or brain surgery you don't need to go to business school or work in an investment Bank to understand it you can comprehend all the mystical sounding vocabulary that we throw around here as long as you have a translator a coach like me who can explain what the darn words mean I want you to think of me as a Defector someone who played for the other team managing $500 million of already rich people's money at my old hedge fund but who's now playing for you teaching you how to navigate your way through the mindfield of the stock market every week night here on Mad Money And of course constantly for the CNBC investing Club forget about the division code forget Enigma forget the navoo code talkers to be a great investor first you have to break the Wall Street code and I'm here to help you crack it that's why tonight I'm giving you my Wall Street gibberish the plain English dictionary consider a glossery of the most important terms you'll absolutely must understand if you're going to actively manage your own portfolio of individual stocks way I want you to words and Concepts that many people in the financial industry don't want you to get your heads around because then you might actually feel empowered enough to pull your money out of their expensive mutual funds and hey even if you're not a pro you may not know enough so why not take advantage of my 40 plus years of investing experience to give yourself an extra Edge let's start with a couple of extremely important terms that go hand inand cyclical and secular now you hear these all the time yet no one but me ever bothers to explain what they mean even though they're crucial when it comes to picking stocks cyclical has nothing to do with the spin cycle on your washing machine or vogner's ring cycle somewhat my classical music and secular isn't about the separation of church and state or or public versus parochial schools oh yes in kudos to the late great L Riser who first cracked that cyclical washing machine joke and I've always remembered it's probably been about 50 years now we say a company's cyclical if it needs a strong economy in order to grow it's cyclical because it depends on the business cycle cyclical cycle so metals and mining companies and oil and gas really any kind of raw materials plus most of the Industrials are cyclical the home builders are cyclical the AIL makers are cyclical the commodity chemical makers like that are cyclical you want a bunch of copper and iron mines like BHP that's the definition of cyclical these companies are all Hostage to the vicissitudes of the economy when the economy heats up they earn a lot more money and we're willing to pay more for those earnings and when the economy slows down or shift into a recession mode they earn a lot less money and investors pay less for their shares I always say that Cal are boom and Buzz natives ah secular Growth Company the other hand is one where the earnings keep coming regardless of the economy's overall health take anything you eat drink brush your teeth or use as medication so you've got Consumer Staples like Proctor and Gamble of course the food companies like General Mills the drug stocks like fiser or MC or e Lily these are the classic Recession Proof names that you want to buy when the economy slows down investors flock to the companies that can generate safe consistent earnings uh unless the glp-1 drugs actually really take over the world because you don't stop eating food or brushing your teeth just because of recession okay so why is the secular versus Cal distinction so important why is it the first piece of Wall Street jargon I'm translating for you because it helps you figure out how much companies can earn in a given environment and because it matters to the big institutional money managers the guys who have so much cash to throw around that their buying and selling pretty much defines the whole Market at least in the short term see the whole hedge fund Playbook is about when to buy and sell cyclical stocks or secular Ones based on how economies around the world are doing this is what drives the decision-making process now in the old days 50% of the performance of any individual stock came from its sector which is just a fancy word for the segment of the economy a stock falls into do like Tech energy Machinery Healthcare finance and when it comes to sectors much of their moves are driven by whether they fall into the secular or cyclical camps these days it's much more uh than 50% and that's really thanks to the rise of sector ETFs you don't want to own much in the way of cyclical when the economy is slowing these stocks are simply going to get crushed because their earnings tend to fall apart as they have during every meaningful slow down including Chinese slowdowns and there's nothing about that you can do do it what do you do but by the same token when business heats up and the Cal are all doing well nobody wants to thr the boring consistent secular growth names the food and the drugs and you won't H make as much money in them during those periods either you have to accept that you're not a Trader you just accept it now you always want some cical stocks and some secular stocks in your portfolio because you can never be completely sure where the econom is headed but when business looks like it's booing you want a lot more psychical exposure and when business looks like it's falling off a cliff you want a lot more secular exposure the bottom line investing ain't easy but it doesn't have to be mystifying you just need to learn the language know the difference between cyclical and secular Growers and always stay Diversified Shane and Alabama Shane hey Jim thanks for taking my call absolutely when when building a balanced portfolio is the 6040 Rule still fundamental and how much of that percentage should be in cash okay I'm blowing out all that I think that we want to bet against don't want to bet against ourselves we want to bet with ourselves I am betting that people are going to have a long life hopefully a happy life so we're buying and keeping a lot of stock right almost to the end when you're 6070 I still think that's young and I think you should have 70% stock I know that's higher than what I've usually said but I just think that you're not going to get the return from bonds then people that people want and I'd rather have you in stock and then take it down to 30 then 20 uh 30 or 20 and it's depending upon how you feel about yourself I want you to be thinking about living long and I think you live longer that's my own psychology Joseph in Florida Joseph hey Jim how's it going not bad Joseph how about you thank you for calling it's doing I'm doing awesome man uh so I wanted to get some insight on a 529 plan and or an index fund for my one-year-old child Jared all right so you look 5 529 plan is perfect and put them in in a low fee S&P 500 Index Fund I did that for my kids and they are eternally Greatful and you're going to do it for yours too how about Edna in New York Edna booah Mr Kramer Bo I'm a new member of your investing club and wanted to thank you for all I've learned so far you turned my husband and I into active investors well I want you to be informed active investors absolutely how can I help I recently rolled over an old employee Ira into a brokerage account and have 20 to 30 years before I'll need the funds right right now it's sitting in a money market account earning 5% so would you recommend I put it in an S&P 500 here's what I want you to do I want you to take starting now every month take a 12th of that money and put it to work we're not going to put it all to work at one level one 12th and then we get to if we have a really bad month I want you to double down and put one six in and when we're finished in the third and fourth quarters well we'll figure out whether you need to have a little more cash but that's how I want you to invest that money that's long-term money and that should be in stock not Bond but over time not all at once investing isn't easy but it doesn't have to be mystifying you just need to learn the language oh made money tonight forget Miram Webster I'm helping you demystify all that Wall Street speak that's what you need from PE mules to GARP and much more I'm cracking on my dictionary to help you navigate the market and take charge of your portfolio that's what what I want
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