저자: RakeshJhunjhunwala · 외국인
요약 보기
라케시 중조웰라는 ROE 30% 이상, 매출성장률 20% 이상, 강한 현금흐름을 보이는 기업을 장기 보유 대상으로 본다. 과거 급등 자체는 고평가 근거가 아니며 사업 펀더멘털이 중요하다고 설명. 단기 매매는 대부분 손실 또는 지수 하회 수익이라고 주장. 비대칭 수익(큰 승리가 손실을 상쇄) 개념과 기업을 사업모델로 보는 관점을 강조. 타이탄 사례로 인도 브랜드 주얼리 시장 확대 여지를 언급.
다듬은 글
maam you know why I'm so bullish on Titan even today mhm the price has gone from 40 to 4,900 nobody has come and told me once that we must buy Titan so what is expensive and what is not expensive I think as long as Titan has 20 25% growth and his return on Equity exed 30 35% and operational cash flows is equal to profits I think it's p Will Survive raak junjun Wala talks about what are the three key metrics that he looks for when picking a great stock and secondly he talks about his philosophy on how he decides whether a stock is overvalued or not he looks for companies that consistently generate very high return on Equity generally above 30% and the companies that display a very high sales growth rate over 20% and finally companies that generate huge cash flows each of the stocks that he owned displayed these characteristics over a very long time secondly just because a stock went up 10 20 or even 100 times does not mean that the stock is overvalued if the fundamentals of the business are strong and there is more potential for the business to multiply he continues to own the stocks for a very long term with that said let us listen to his next lesson see most people say they're investing but actually their mind is of a Trader that they want to create you can create un unimaginable return in trading I don't say that in trading I can tell you one thing if if 10 lakh trade 9 lakh 9,990 say they made money and 999,9 that realine rakes junun Wala distinguishes between a Trader and an investor While most people claim to be investor but in reality they are stock traders who buy and sell stocks only for the shortterm and as he mentions 99.9% of short-term Traders either lose money or make less money than the index in the market the expectations that most people have about the stock market are unrealistic IC and people assume that they will make a lot of money in a very short time in the stock market these unrealistic expectations lead people to treat the stock market as a gambling machine which eventually causes them to lose money with that said let us listen to his next advice that it's not important that you're right or wrong in trading it's more important how much you lose when you are wrong and how much you make when you are right raak junjun Wala talks about asymmetric gains and this does not just apply to Short term Traders but even to long-term investors imagine if you invest $100 in stock a Stock B and stock C now if Stock B and stock C go to zero you will lose $200 but at the same time if stock a multiplies five times then you will gain $500 so overall you make a profit of $300 despite losing money on two stocks so in summary if you win big then your wins will cover your losses and you will turn out to be profitable with that said let us listen to his next lesson how do you choose a stock so see the basic thing I will tell you is when you invest in a stock think of the business model of that compy I'm talking about invest I'm not talking of trading trading may think momentum here you think when you invest think of business model and I think the first thing I look at when I invest in a company is the opportunity would I invested in Titan if I didn't feel that the jewelry market in India will go you know from 5% branded to say 20% branded and in 5 years if 1 lakh CR is going to be the Branded Market is a jewelry market in India the Branded Market will go from 5,000 close to 20,000 CR so it's a 15,000 CR opportunity so you know nobody can grow bigger than the opportunity this is a very important lesson that tells that the mindset of an investor should be to look at stocks as businesses rather than mere pieces of paper that move in prices and when you look at stocks as businesses your investment decision will be based on the fundamentals of the business and as he said the business cannot grow bigger than the size of of the opportunity itself so if you invest in a company that operates in an industry with a large addressable market and a strong growth potential the company will have a large opportunity to grow with that said let us listen to his next lesson what do you reckon is the most important ingredient for a young mind to start inculcating in her or him in order to be successful at this act first they should love markets they should be passionate about markets they should have some idea of financial stats they should have more wisdom and less intelligence remember it's an act of wisdom not an act of intelligence plus you realize that see you're living in a future the future is going to be un right so how you assess the future right is how well you will invest here what he States is similar to what Professor Asad dudan of New York University says investing is not just a science but rather it is also an art so investing is not merely Financial formulas that will tell you right or wrong answer but rather investing requires a wealth of wisdom from history to human psychology having curiosity about each and every field of business and Human Society will make you a great investor that's all for this video and if you find this video helpful then show your support by liking and subscribing to the channel
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