Terry Smith - Investing Masterclass using 7 Tips for better Investing

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결론: 영상은 특정 자산의 가격 방향을 예측하지 않고, Terry Smith의 장기 투자 원칙 7가지를 소개한다. [투자자 소개] Terry Smith는 연평균 15% 이상 성장률을 기록한 펀드 운용자로 소개되며, 영국의 워런 버핏으로 불린다고 언급된다. [투자 원칙 1: 넓은 해자(wide moat)] 경쟁 우위가 강한 기업에 투자하라. 코카콜라를 예로 든다. [투자 원칙 2: 강한 유기적 성장] 차입 없이 내부 자원으로 성장하는 기업을 선호한다. 과거 수년, 가능하면 수십 년간 유기적으로 성장한 기업을 찾는다. [투자 원칙 3: 높은 투하자본이익률(ROIC)] 높은 ROIC는 경영진이 자본을 잘 배분한다는 신호이며, 대체로 강한 해자와 연결된다. [투자 원칙 4: 매출 성장이 가치를 만든다] 장기적으로 주가는 매출과 잉여현금흐름 성장을 따라간다. 꾸준한 매출 증가를 본다. [투자 원칙 5: 이익이 잉여현금흐름으로 전환되는 기업] 이익은 의견, 현금은 사실. 현금은 재투자, 인수·자사주 매입, 배당에 쓰인다. [투자 원칙 6: 규율 유지] 시장을 자주 하회할 수 있으므로 투자 철학과 전략을 고수한다. 투자는 단거리 경주가 아니라 마라톤이다. [투자 원칙 7: 과도한 매매 자제] 잦은 거래는 성과를 해친다. 'buy right and stick tight'를 강조한다. [언급 종목·방향] 구체적 종목 예측 없음(코카콜라는 사례로만 언급). [조건/리스크] 영상 내 구체적 수치 목표나 리스크 경고는 제시되지 않음.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. thank you Terry Smith has been referred to as the English Warren Buffett his fund van Smith has achieved an astonishing combined annual growth rate of over 15 percent since its launch in 2010. in this video we will explore his major tips for successful investing Smith is a frequent media contributor and has written for a number of outlets including a regular column for the financial times he is also the best-selling author of the book investing for growth Smith is a keen history buff particularly in military history and he led a campaign to erect a statue of New Zealander sir Keith park on the fourth plinth in Trafalgar Square this was in recognition of Sir Keith's work as commander of the number 11 group during the Battle of Britain in recognition of Smith's efforts he was appointed a member of the New Zealand order of Merit in 2012 for services to New Zealand and United Kingdom relations we will be outlining seven investing tips that Terry Smith uses the first is invest in companies with wide modes a successful company earning a lot of cash will come under attack from competitors that is why it is important for a company to have a wide moat for more information on moats please see the video on understanding the five company Moats wide moat stocks have a superior service or product which Rivals can't replicate Coca-Cola is a great example of a wide moat company it has a powerful ubiquitous International brand and Warren Buffett has said if you gave me a hundred billion and said take away the soft drink leadership of Coca-Cola in the world I'd give it back to you and say it can't be done investing tip number two strong organic growth is a must organic growth is the most preferred source of growth in an organic growth strategy a business utilizes all of its resources without the need to borrow debt to expand its operations and grow the company organic growth is typically marked by an increase in output greater efficiency and speed with production higher revenue and improved cash flow Terry Smith seeks companies who manage to grow organically over the past years and preferably over the past decades investing tip number three invest in companies with a high return on invested capital Warren Buffett says the ideal business is one that earns very high Returns on Capital and keeps using lots of capital at those High returns that becomes a compounding machine the higher the return on invested capital of a company the better return on invested capital is the rate of return a business makes on the cash and invests in itself each year it essentially measures how effectively a company uses the money invested in its operations a high return on investor Capital means the management team are deploying Capital well a rule of thumb is that companies with a high return on invested Capital will usually have a strong moat investing tip number four Revenue growth will drive value creation eventually the stock price will follow the revenue and free cash flow growth of a company each year a company will report revenue from sales and we want to see a consistent track record of increasing sales investing tip number five buy companies who translate most earnings into free cash flow earnings are an opinion cash is a fact free cash flow tells us if the company's cash is aligned to profits or if the profits are paper only when a company is generating cash it has the following options to use it one reinvest in the business therefore strengthening operations or Market position two Acquisitions and share BuyBacks so the acquisition can be either buying another company or buying back shares if the share price is below the intrinsic value and three dividends so it can return Capital to shareholders if there is an absence of value creating alternatives investing tip number six be disciplined when you invest in stocks one thing is for sure you will underperform the market from time to time no Rider has ever won all stages of the Tour de France the same principle is valid in the stock market always stick to your investment philosophy and strategy investing is a marathon not a Sprint investing tip number seven do nothing this is because trading too much harms your investment results be disciplined and don't trade too much use the process known as buy right and stick tight there you have it the investing wisdom and tips of Terry Smith by utilizing these tips we can all become better investors