Category: Money tips Release Date: 2006-12-07
The cause of ancient and modern, National Cheng Kung University, the University asked who will through three kinds of state: "last night, the west wind withered Bishu alone on the high-rise Wang Jin Tianya Road", the first territory also. "Getting wide belt she does not regret the end, consumers get the Iraqi people gaunt", which is also the second border. "People look for him where thousands of degrees, when I look back, that people in the lights Bend", which is also the third border. This is a great scholar Wang Guowei's "Human Words" in the discussion on the state.
Wang Guowei, word Jingan, China near the modern intersection during a master. He is like many universities in that era, such as those younger Shen Cong-wen, like the self-taught, self-taught Western philosophy, aesthetics and classical Chinese philosophy, aesthetics fuse, forming a unique aesthetic ideology. He also attacked songs drama, government history, paleography, archeology, in almost every field have made ground-breaking achievements. Of course, most people are familiar with is the "Human Words" This book and the realm of the word.
"Human Words" In fact, this wonderful book to very casual, after Sino-Japanese War, by Kang Yu-wei Wang Guowei, Liang Reform Reform trends affect aroused to learn the "new study" a strong desire to carefully read Kant, Schopenhauer works But then he discovered that there are inherent contradictions Schopenhauer thought, realizing that Schopenhauer's theory is not the objective truth, so emotionally very painful, for the sake of escape, he would read lyrics. The experience enabled him to ancient Chinese and Western aesthetics and literary theory, have a deep understanding and mastery, the realm of concepts and the "Human Words" will begin.
If transplanted into the realm of the concept of the business and stock analysis, we can also separate the three phases of the stocks; investment in shares of these three realms means that three kinds of distinct benefits; divided into three phases based on the is the net profit margin sales, growth and expansion space for the cost of these three conditions.
If an enterprise can not control the sales of net profit margin, it often means no barriers to expansion easy, full competition. Ie do not have core technology, household appliances, although its sales income can be growing, but because of competition, business is almost not related to net profit and sales, net profit is only a percentage of net assets. At a reasonable price, to invest in such companies can only get an average return, just like one can see through such enterprises horizon road, this is the first border.
Branded consumer goods, natural monopolies or other barriers to sales of businesses generally can be maintained net profit margin, such as the Shanghai airport or Moutai such enterprises, the biggest problem is room for growth or growth in a slow increase in the price is not small, profit can not be rapidly growing. Such as the airport's runway was a one built into is not small; bottle of Maotai must first save a few years before they are marketed, time-consuming and extremely long. To invest in such companies should have patience, can stand the torture, so-called Iraqi consumers get people gaunt, but the return of such enterprises is relatively abundant, and if the election of the stocks, beyond the tape goes without saying, this is the second border.
Highest level of course, super-enterprises, which meet the above three conditions of enterprises, such as Microsoft or Wal-Mart, such enterprises are rare, domestic've never seen, because the domestic well or more than two times were also acceptable to all parties and become the second state shares in the company. Now the scale of such enterprises should have no big differences will be more numerous and there are signs of the success of the enterprise is not necessarily true, as these two days also rose's Suning Appliance. However, many years later that one day you turn around and suddenly, I am sure there is such a business so that investors sighed with regret.
