저자: VishalKumar · 외국인
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피터 린치식 종목 분석 기준을 소개. 지루하거나 주목받지 않는 사업, 분사(스핀오프), 기관·애널리스트 미커버, 저성장 산업, 니치/독점 사업, 반복 구매 제품, 기술 사용자 기업, 내부자 매수, 자사주 매입을 좋은 기업 신호로 제시하고 희석은 부정적 신호로 설명. 특정 종목이나 자산의 1~3개월 가격 방향에 대한 예측은 없음.
다듬은 글
discussion on Peter Lynch's investment strategy. So researching a stock would be very easy if you know the basic business of the company. So it would be beneficial to invest in a company like hotel chains versus some kind of semiconductor chip that they're building to boost the performance of AI model.
So this is what we are going to discuss in detail and and what are the different attributes that a perfect company should have whenever you're researching any kind of company. So first is it sounds dull or it does something dull disagreeable. So these are the companies like that's why my favorite store in India is the most uncreative store name.
He has earned my respect. This guy he's so beautiful. No thoughts given. Vijay sales he doesn't like two questions what your name what you do it's not Vijay sales it's Vijay sales he has become event what a dedication other stores sometimes having sales vijay sales love Zero creativity. Reliance digital Mumbai VJ sales logo.
You want Italic or you want bold? Why not both? Color black and white. Tagline. Nike has tagline just do it. Val tagline vijels.com factory BMW KFC, McDonald traders. Exporter. If you find these kind of companies which have terrific earnings and a strong balance sheet, you have got your potential winners because because these are the companies uh that gives you a lot of time to purchase a stock and at a very good discount because these are companies that are out of limelight and not many people are talking about that because of because of which they they are mostly trading at a discounted value.
Next is it's a spin-off. Now talking about spin-offs of division or part of companies, these are now separate and free standing entities. So normally these spin-offs have strong balance sheets and they are prepared to succeed as independent companies because large parent companies don't want to spin off some divisions or part of business and then see them get into trouble or going bankrupt because that would attract a lot of bad or embarrassing publicity.
And one thing to note about the spin-offs is is the literature that is sent to the shareholders about the about the spin-offs are are often understated and is often misunderstood by the Wall Street experts and this comes out to be a positive attribute because you can get these at a discount. Also talking about the merger or acquisition.
So companies that are target of the hostile takeovers, what they do is to fight or to counter down this hostile takeover, they they sell or spin off some divisions that they think can become a separate entity of its own. And when you hear about these kind of spin-offs, you should immediately start your investigation about the stocks.
And after a few months you should see that if there is a heavy insider buying or or or the people uh from the previous company are buying in buying in that company and if they do this is just the confirmation that the company is going to do good in the long term. So next is the institutions don't own it or the analysts don't follow it and if you find this kind of company you have got a potential winner because there are not many buyers about it and there's not that much discussion about it and you can you can you can get this prices at a fair discount and you will have a long time to buy these kind of stocks and and these things happen quite often with with the banks or insurance companies.
companies or loan companies because there are ton of these companies in the market and Wall Street could only talk about a handful of these companies. The next is uh investing in a no growth industry. So most of the investors what they do is they invest in high growth industries uh where there's lot of sound and fury and and limelight and when you invest in high growth industry there would be a ton of competition.
So finding a stock that that could beat all the competition and come up with the most market share is is very difficult. So take example of the AI thing that is going on recently. So we'll see that there's tremendous competition amongst different companies be it's Google GPT and there there there's new players in the market like the deepseek and all which are there to provide better services at a cheaper cost.
So there's always going to be a very high competition neck-to-neck competition and you won't see that much bargain in the prices of these kind of stocks. Rather you should be looking at industry which which is deemed as no growth because because you won't have that much competition and you can buy the stock at a fairly discounted value because because no one is interested in that.
The next point is that the company that you're researching is in in some kind of niche. So so once you have got an exclusive franchisee in anything you can you can raise the prices of anything and this this you can see in companies like drug companies or the chemical companies which have niche products that no one else is allowed to make.
So talking about the chemical companies you these companies have niches in pesticides or herbicides. So taking up a patent in these kind of products it would be very difficult for the competitors to build uh to build a same product solving the same problem and attaining a patent related to that. So these companies can have a monopoly and hence can increase the prices and and can skyrocket their stocks growth.
So similarly we can have example like Coca-Cola which is as good as niche because it costs a fortune to develop a public confidence in a soft drink. Another example would be a drug company which has some kind of medicine in which they have taken a patent. So all these kind of companies have niches and it would be very difficult for the competitors to compete in in in that particular sector and they could easily have a monopoly in that.
The next is the companies that build products that people have to keep buying. If we talk about some companies that build toys and if we talk about from the perspective of consumer how many of toys they could buy. So they could buy one and and there would be some competitor again having a better toy uh waiting for them and our companies like drugs, soft drinks, uh razor blades, cigarettes.
So these are the products that people are going to buy again and again and of a specific company. So Coca-Cola as I had discussed would fall into this category because people will be keep buying it and they have developed a a taste in the soft drink and same is with the razor blades or cigarettes. Next point is that the company that you're researching is the user of technology.
So like I have taken an example of this AI thing. So if you are not investing directly into AI, you are not investing directly into uh into companies like Chad GPT but what you are doing is you're investing in companies that that benefit from these kind of high growth industries. Take example of Nvidia which which manufactures the hardware that is mostly widely used in these kind of AI companies and and you might have seen that the then the stock growth of Nvidia that has been going insane.
So the next point to consider when you're researching a stock that would be to see if in a company the the insiders are buying it or not. So there there's been uh two signals for that. First is in the near term you can be confident enough that the company is not going out of business and the long term if you see that the management is owning the stock of the company.
So the first priority is going to uh reward the shareholders and you can get the this information publicly easily uh because whenever this kind of insider purchase happen it has to be declared. So you can find it in newspapers or uh some newsletters or deposit journals or some kind of brokers. And talking about insider selling uh it is not a red flag because because there are several reasons why uh why insiders are selling their shares.
Maybe they are planning to buy a home or or some kind of big expense. So insider selling is not a red flag but insider buying is truly a green flag that you should not ignore. And in the end the point to consider is if the company is buying back shares. Now this is the best way to reward its investors and what what does it means to buy back share is is let's say there are thousand shares of company in circulation in the in the stock market but now when the company buy back shares let's say 500 now the the shares that are in public are now 500 which is half of the shares that as compared to the beginning and it is going to have a positive impact because earnings per share has now just doubled.
And in the long term, if we see it is always going to do good to the stock price as well. And the alternatives to buy bank shares is going to be raising dividends or developing new products or starting new operations or making acquisitions. So either the company is buying back shares or they are investing in some businesses that could grow its earnings.
Now the reverse of buying back shares is adding more shares which is also known as diluting and most of the companies do this just to stay away from bankruptcy and to to raise capital from external investors and diluting is not a not a positive sign and it can be a negative in fact because you can see that company don't have enough resources to expand it its growth or even to to continue its business operations.
So it would be it would be better if you start looking at other investing opportunities. So these are the few attributes that a perfect company can have and that you should look out when you are uh researching any stock. .
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