tailieunhanh - BUY, SELL, OR HOLD: MANAGE YOUR PORTFOLIO FOR MAXIMUM GAIN phần 2

chia sẻ. Theo hệ thống được sử dụng bởi hầu hết các nguồn tin tức tài chính, tầm quan trọng của hai báo cáo này là bằng nhau. Cả hai đã tăng bốn điểm. Tuy nhiên, trong thực tế, thay đổi cho các cổ phiếu $ 30 trong ngày đại diện cho một tăng 13,3%, và | BELIEFS ABOUT FUTURE PRICE MOVEMENT share. Under the system used by most financial news sources the significance of these two reports is equal. Both rose four points. In reality however the day s change for the 30 stock represents a percent increase and the day s change for the 60 stock was only percent. In other words the reporting itself emphasizes points of change rather than percentage change in value per share. The reporting of price is emphasized because it is easily understood and readily available. The change in price per share is important to current stockholders so the perception is that the same level of importance applies to would-be buyers as well. The reporting method is inaccurate and misleading. It also does not reveal the more significant information about a company in other words the comparative fundamental information. The financial press of course is like the rest of the press. It wants to convey information in a simple manner to report what is thought to be newsworthy. Every serious investor however has to be aware not only of the inaccuracies in reported information but also of the fact that a daily change in a stock s price means absolutely nothing in terms of a company s value as an investment. It is only scorekeeping and the game being reported changes in stock prices means nothing in the long term. The financial press identifies winners as those whose stock rose today and losers as those whose stock value fell. So that is the game. It has no relevance to the selection of stocks based on underlying fundamental value but it is misleading because so many investors make their decisions based not on a study of the company and its fundamentals but on what they read and hear in the news. Beliefs about Future Price Movement Among the ideas that have caught on among investors is a primary belief that future price movement can be predicted. Certainly the future value of a company as a sensible investment can be predicted with great .