标题: Value Investing in Growth Companies 成长型公司的价值投资 [打印本页] 作者: 1136111231 时间: 2020-3-5 18:01 标题: Value Investing in Growth Companies 成长型公司的价值投资 编辑推荐, r7 |$ H8 e1 N) j" W% b# D1 `
Authorsusmin Ang and Victor Chng introduce the value-growth investing model made famous by legendary investor Warren Buffet. Value Investing inrowth Companies explains how to go deep into the heart of any business and uncover potential growth at pennies on the dollar-yielding tremendous capital returns.% e5 A4 A$ i& t5 d' j' W
内容简介 N$ v# W: r$ M1 P% |# x The book is a step-by-step guide on how to use the Value Investing Method with a simple Jigsaw Puzzle concept (conceptualized by the authors) to uncover undervalued growth companies that can generate 40%-400% for investors. Readers will be able to find out the main difference between Value Investing Jigsaw Puzzle model. The model is broken down into four segments, namely Business, Management, Numbers and Valuation. usiness - Invest in companies that have simple and easy to understand business models. This often includes products/services that we use day in and day out (i.e. Gillette, Starbucks, Coca Cola, etc). Alternatively, investors could invest in a business within their circle of competence - company or industry which they are working in. anagement - Behind every successful business, there is always a team of people running the show. It is important to have a board of directors who are candid, honest and aligned to shareholders interest.?The authors explain how to assess the qualities and character of the management. umbers - This section validates the managements track record. By looking at some financial numbers and ratios, readers will be able to assess whether the companies are indeed generating good returns for its shareholders. aluation - Even a good business run by great management could be disastrous if investors overpaid them. Thus, this part allows the readers to calculate the actual value of the business and allow them to assess whether it selling to them cheap or expensive. The book concludes with chapters on Portfolio Management and Common Mistakes in Investing./ G$ ^+ ?, z1 G- l; O6 h% V' {
作者简介 & C0 v$ D8 o0 f& X$ d6 z Rusmin Ang and Victor Chngre the chief business analysts at 8 Investment Pte Ltd. Together they specialize in unearthing high-growth, small capitalisation companies. Co-founder and Director of 8 Investment, Clive Tan, is a school teacher turned entrepreneur and value investor. 8 Investment was founded in 2008 with the founders intention of inspiring investors through the sharing of successful learning experiences in business and investing. Driven by the values of Integrity, Responsibility, Mastery and Growth, the company has achieved excellent financial results with an average 139% growth in revenue annually over the last three years. Subscribing to its F.A.S.S. business model (Feasibility, Adaptability, Sustainability and Scalability), 8 Investment has built one of the largest networks of value investors in Asia and developed a comprehensive range of investing books, CDs and digital learning programmes to cater to this growing audience. The company received the Singapore Spirit of Enterprise Awards in 2005. Their courses have been attended by over 40,000 people throughout Asia in the last eight years. 1 Y4 Q. e3 K! J/ q5 U. R 目录 ~5 v4 K+ P& M" j, \+ S Cover. \+ O _# c( `2 _
Contents k/ R% D! b; F. L) ?9 X6 H. B( {
Title; Z( D# F4 x1 h' R
Copyright. l8 U9 p( \+ b9 O4 r. }4 x1 f
Foreword* b; j: k4 L0 d" B0 V) {9 {
Preface# Z/ ^1 c& _. C- i- K
Acknowledgments {7 S; C0 G9 m, P! s
Chapter 1: The Making of a Value-Growth InvestorThe Common Journey of New Investors + T7 T9 @, ^- w. m/ E9 \/ N Short-Term Trading to Long-Term InvestingGrowth Investors 9 t& M! k3 B, y, _ Value Investors 0 J# J' b9 g8 f8 S4 O Value Investors versus Growth Investors! t4 ` J) A& n) ^5 l+ P2 Q, W, @) A
Value-Growth Investors ' i" v ^) l* Y; N5 a Warren Buffett’s Journey , Q* o/ t1 i2 U! \ L1 E2 g Value-Growth Investors/ t/ X7 L, d4 I* M# b2 }' s
Definition of Growth Companies 4 E1 n* K6 j2 |4 h Common Misconceptions about Growth CompaniesWhy Value-Growth Investing?# R, N9 x! U9 ^; D1 s
Summary$ U1 e' R9 A! P
Chapter 2: The Secrets of Successful Value-Growth InvestorsHealthy Thoughts Lead to Sustainable ResultsSummary: I% Q( x( a$ m* g/ x* s
Chapter 3: The Jigsaw Puzzle—Four Pieces to Value-Growth InvestingThe Jigsaw Puzzle Model 3 {; k. |; L9 \$ J& Y Y, g" f The Art and Science of Investing % f5 h3 V4 g5 l7 a9 l Looking for the Right Information- e# k- u- r" A& |$ f, r3 [, f
Information Released by the Company4 l% R, }- `. V$ Q, j3 Y. ^
Information from Outsiders8 D0 A. U' n: f3 A `3 X! O
Summary( O, p- v6 ~: T. I, V
Chapter 4: Business—The First Piece of the PuzzleUnderstand a Company’s Business Model 0 b$ k6 K7 g$ M5 \1 \1 ]& ]8 J% T Simple Business& l% X( @9 G( E9 l$ J
Circle of Competence " ]: L+ d. b* ~" M+ p0 g Going Beyond the Limit ' C! g2 s0 U: ]7 A5 k$ t- c Competitive Advantage # X, A% U1 c$ c7 j' H6 e Knowing the Competitors ! v$ {) s; n% K5 c, U7 ]# [6 p Think Like a Customer through the Scuttle-Butting ProcessFinding Future Growth Drivers $ i5 [$ o7 y9 Y! C; [ V Understanding Risks—What Can Go Wrong? 1 X) v/ N! N9 S. q2 F Summary. r& J* o; p' Y7 P9 a% c
Chapter 5: Management—The Second Piece of the PuzzleManagement Forms the Cornerstone of a BusinessCriterion 1: Trustworthiness : X0 ?& ~# ]7 x" b1 K Criterion 2: Candid in Reporting ! i6 ~% y0 x7 ~3 y/ v u) d8 B Criterion 3: Aligned with Shareholders’ InterestsCriterion 4: Track Record/Experience8 P6 m1 x, G' B" W
Criterion 5: Visionary Managers / V5 O* {9 a$ n8 v4 k Summary 7 ?* Y9 l( Z* f) [' U Chapter 6: Numbers—The Third Piece of the PuzzleNumbers Do Not Lie 4 A+ k+ T1 F0 G1 j Numbers to Look at When Reading the Income StatementNumbers to Look at When Reading the Balance SheetNumbers to Look at When Reading the Cash-Flow StatementSummary& `% u1 R' W# x6 p n; |' l
Chapter 7: Valuation—The Fourth Piece of the PuzzleThe Valuation of a Stock / [+ {6 C8 [4 a) j: a Price-to-Earnings Ratio 7 Q8 j9 s) j' C7 j! I Price-to-Earnings-to-Growth Ratio 9 f/ t/ `9 h3 H6 d- O" n z- ?7 n; z Discounted Earnings Model # T( x( J( U( i9 }+ y8 G2 A Margin of Safety - ]- Z3 a& W5 ] O+ |4 u Summary ^% d/ \* B! U! p( n Chapter 8: Screening—Buy—Monitor—Sell' N4 [& ?# l, P9 W& ~& [
Screening (Using Numbers against Competitors)Buy, Monitor, and Sell7 h: `9 C( t4 ^2 t
Buy, Buy, and Buy : i! K' o. ]/ @% r, n3 @6 F( A Monitor, Monitor, and Monitor " ]2 r& M5 B7 |0 K3 y Sell, Sell, and Sell 3 q$ P9 K: w$ s- y M" _7 R: G+ C Summary9 C) f! z3 r: g( b# Z1 e3 M, l
Chapter 9: Portfolio Management for Growth CompaniesUnderstanding Your Portfolio6 r6 y% t: N3 S: V# Z- r9 _
Types of Diversification) W- _ }- }+ j% }. n' X) o5 m
The Sky Is the Limit ! @ K. Y6 k2 V Summary . X. B+ J& N' O) e/ E Chapter 10: Avoid Common Mistakes + _1 @! A% J6 l8 u' _- \ The Dos and Don’ts of Investing8 i- L* [1 H; P" e" L
Summary 5 k" k5 f: Y) U% i* K' e! Z0 y# D Chapter 11: Case Studies and Conclusion 3 O2 [) l w3 P4 c7 h1 @ Bibliography8 {) X, n' t8 Y! R* W
About the Authors8 P" b( a/ ~; }, \9 L% ?! g. P5 S
Index 8 r( d" U( M$ v& w1 o" C5 M2 x1 [1 v2 ?2 m1 r9 V1 m
/ L3 o; m& r8 ^! J# S 作者: yichao 时间: 2020-3-30 12:27
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