저자: 미상 · 외국인
요약 보기
결론: 워런 버핏식 가치투자(내재가치 분석)를 설명하는 교육 영상으로, 특정 종목 예측 발언은 없음. 핵심 주장: 가치투자는 기업 사업 이해·경영진·실적·경쟁우위를 분석해 내재가치보다 싸게 사는 전략이며, 장기 보유가 핵심이다. 내재가치 계산: 존 윌리엄스 정의를 인용해 미래 현금흐름을 할인율로 나눠 계산하는 방식을 설명하고, 오너 어닝(영업현금흐름-유지보수 자본지출)과 잉여현금흐름 개념을 소개한다. 예시 종목: ITC를 예로 잉여현금흐름 약 2248억 루피(영상 자막 기준), 할인율 6.1%로 계산 시 시가총액(약 2조 루피)과 비슷해 내재가치 근처라고 설명한다. 안전마진: 미래 불확실성에 대비해 내재가치보다 할인된 가격(예: 50% 마진)에 매수해야 한다고 강조한다. 투자자 심리: 사람들은 주가가 오를 때 사고 떨어질 때 파는 경향이 있으며, 벤저민 그레이엄의 '가장 큰 적은 자기 자신' 발언을 인용한다. 출연자 전망: 특정 자산에 대한 가격 방향 예측 발언은 없음(교육 목적 설명).
다듬은 글
Hello friends, there are many strategies for earning money from the stock market and many such techniques, which may feel like seat work, but you may feel that you are learning something, but in real life, they are of no use. However, with very little study, which is also easy, you can become rich by following it.
All you need is your knowledge and patience. Friends, I am talking about Warren Buffett 's investing strategy. The special thing about this strategy is that you do n't need any fancy finance degrees. Even if you do n't have much knowledge of finance and investing, you will still understand this study because it uses a lot of common sense.
Today, I am going to explain this study to you in detail and simple language, how Warren Buffett, starting from zero, built an empire of 18 million dollars on his own. So let's begin. Friends, Warren Buffett's investment in technical name is value investing. It started when children first read this book, The Intelligent Investor, in 1950.
He laughed. Almost 70 years ago, he learned a lot from this book, but he did n't even get the idea of value investing. In which he would look for very cheap stocks, then buy them at a fair price, hold them for a few months, and then sell them after taking his profit. Now this is called the hunting birds approach because in this strategy, you often find very old, charted, and poor quality companies because such companies trend at cheap prices in the stock market.
But investing in such stocks is not a good investment for the long term because you can make small profits on it, but you will not be able to create natural wealth. He has stated this thing many times in his company Berkshire Hathaway's letter to his shoulder, and in many of these pieces too, he has repeated that his new technique is much better, which today I am going to tell you in detail in this video, due to which you will now be at a greater advantage in this as well because you will not get this strategy readymade.
In fact, this is the name of a new, in-depth study of long-term value investing techniques. Business Management, Financial Officer, Elevation, so the first thing is understanding the business. I mean, do you understand the business you are investing in well? I repeat this again and again that we do n't invest in stocks by buying them.
We used to invest in that business by reading stock charts. You won't get even one percent information about that business. Then, what does the management of that company think about the schedule? Then, what was the track record of that business? What is its financial condition? Does it have any competitive advantage that keeps that company ahead of its competitors?
Etc. And finally, when you follow these 3 steps properly, you will find such a company in which you will be so confident that the company will not be closed in the news and it will keep crying. So, you can yourself find the Eklavya of that company, which we call intrinsic value, that at what price should you buy that company in a big So now let's find out how they calculate the intrinsic value of a business from numbers.
They repeat a quote again and again in their latest book, which is that the intrinsic value of any stock, bond, or business today is determined by Krishna Flowers and all that discounted inappropriate rates can be expected according to women in life. This statement is by economist John Paul Williams, which he wrote in his book, The Theory of Investment Wary, in 1958.
He is the same man who created the concept of discounted cash flow and intrinsic value and explained to the world that there is something called the intrinsic value of a business. Otherwise, before that, people bought stocks without any research and on the basis of their bad feeling, at any price and at any time, and considered it a kind of bramble that if you hit the lottery, you will become rich or you will remain the same.
So, test this concept, which has been explained in some detail in the last, if you haven't seen it. So click here to see it first. I've used a private company as an example and explained a few things in detail. Now, we're taking a real example of a company and calculating its intrinsic value. Here, we go to the website.
This is where we can filter out good stocks and evaluate them. I've included a link to it in the description below. They also have a light mobile app that works almost the same way as a computer, as you can see here. Here, I'm blaming ITC. But before that, let me tell you that this video is a stock recommendation for educational purposes only.
So, what we're achieving is that we've completed this company's caller tune address and followed that it's a good company. I've already created this video with the Facebook number, which you can see by clicking here. To calculate its intrinsic value, we need to ask ourselves how much the company will earn in the future, how much respect it will command, and so on.
Whatever will be left with him is called Owners Earnings because if you run a small business and you get a profit of ₹10 from this business, that means after paying all the raw materials and all its expenses, it comes into your pocket every year, so brother, it is not a capital profit because if you have to reinvest some of that money to continue your business, then you should also account for it, you bought a computer, some plant, some factory equipment, etc.
These are such expenses which are not incurred every year, hence the profit is not really visible in the unlocked state, so in the world of finance, this is called capital expenditure or in short CAFEX, so that is why if we come to the cash flow statement here, because the income statement is telling us the profit of only one year and profit is such a thing which the company can easily plate, but it is a little difficult to plate the cash flow statement, so you can see here the company's cash from operation i.e.
CMO in 2020. It was Rs 15.50 crore, which means they actually received that much from the customer, but out of that, how many crores of rupees have they spent as capital expenditure? If you compare its capital expenditure with its cash from operations, your answer will be Rs 2248 crore, which we call free cash.
So, this free cash flow is the money that actually remains for the company's operations, but according to the letters and figures, this is also not accurate. Owners Anil's definition of award return is something like this: Operating Cash Flow - Total Maintenance Capital, that is, the expenditure that you are incurring only to maintain the operations of that business and not for growth.
But here we have Total Cash Flow, which includes both Maintenance Cash Flow and Growth Rate Fixed. Companies do not need to report this Maintenance Cash Flow because there is no such accounting rule, otherwise you will have to work a little hard to find it. I would have prepared annual reports. You have to read some of their actions, which we will discuss elsewhere.
Along with finding that out, you can also get a good job about the growth of the company. How will this company balance the future, so that you remain one step ahead compared to other stock investors. And now you will be able to quickly identify group companies, that is, multibagger stocks, in their early stages.
So, if we have calculated the intrinsic value of this company, then we will divide its last year's free shares by the risk rate. What does this spread mean that the return you want will be guaranteed. There is no chance of it being launched by any government want, that is why we call it regret. So this is the same formal which I discussed in the last video.
India's risk rate is currently 6.1 percent. So, if you divide its free stock, that is, this money, by 6.1 percent, then the answer will be almost 2 lakh crores. And currently, the market cap of this company is 2 lakh crores. Chiffon is around you, so that's why this company is hovering around its intrinsic value because in our calculations we've assumed that even if the company's profit remains the same, you'll only get a 5% return every year.
But the company is linked to this, so that's why you get 6% interest here, compared to a comment box or a bank or SEBI. It would be better to invest in such companies now because the government wants to give you 6% interest forever, but the company invests in the future, and that will be your actual return.
So, if you're buying this company at this price, you're buying it at its intrinsic value. You're not adding any investment for growth here. But Warren Buffett would have added a margin of safety on top of that because we do n't know what will happen in the future, and we can't be 100% sure about it, because as I explained in this video, it means only one thing: we don't know.
And when it comes to the future, So, there can't be any sudden noise about anything, I know guaranteed, because anything can happen in the feature, it can also affect the company's work, the business environment can change due to technology, some big Chinese companies can go bust, or a new type of virus like Midnight Inn can come, due to which people will not buy that company's products, etc., so that is why to protect themselves from that unknown risk, they use warrants, margin and safety.
Along with this, when the missions they have added for growth also get production, so with this margin and safety, they buy the company at a discounted price, for example, if they like this company a lot, then they will add 50% margin and saffron in it, so if this company is crying loudly, then from there, they will invest in it when one leg is running at Rs 2500 crore, because in the future, even if such a race comes out which we do not know right now, then the company will not close its eyes because of it, but gradually its losses will start becoming visible, In that time, you can do this by investing in your stocks.
That margin of safety can protect you from big players. And this happens when you do your research correctly before buying any stock. But friends, what do people do in the district? A margin of safety is a far cry. People buy their stocks just by looking at the stock price or the name of the company.
And the most interesting thing is that people buy stocks exactly when the stock goes up, meaning there is more effort than the intrinsic value. And then when the stock stops going up, out of fear, they buy at exactly the time when they should buy more. And that is why we need not be surprised to know why newcomers often lose in the stock market.
Because 80 years ago, Benjamin Graham said a very important thing that an investor's problem is that his biggest enemy is likely to be himself. There are more than 5000 companies in India and India is a high- growth country, so many such companies even today, like Android, and I always say that when If your knowledge improves, then your arrest will automatically reduce and the returns will also increase automatically and now you can earn more profit even from a small amount.
So friends, that's all for today's video. If you learned something from this video, then subscribe to this channel and press the bell icon so that you do not miss such important videos. The link for the ticket to make two stocks compulsory and the link for opening a free demat account to buy stocks is in the description below and in the first comment.
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