Category: Money Tips Date: 2006-09-29
Performance may be forced by the pressure of the end of October ushered in Fidelity's flagship Magellan Fund, a fund manager of the seventh Lange, as early as three months, Fidelity has also broken the tradition, the establishment of full-time researchers. This is not only in the Johnson III, Fidelity after the reform of its traditional investment research system the determination of independent research also shows that the importance of fund companies. Investment in research is the basis of this is easy for people to accept the view, but what is good research is no accurate answer to a question.
Some time ago the hit Korean drama "Dae Jang Geum," where the story might do better to illustrate this point. Jang Geum's Palace, a beginning teacher Korea is still not how long this any diet tips, but to this day, long terminal repeat in a bowl of water. However, Jang Geum's opponent this English Queba generations of experience accumulated by a large number of meals and tips overripe on the chest. However, this was finally realize a long day for the people who make food and water on the bowl is a bowl of food, therefore, not only to understand the characteristics of food, but also to understand each other in the end want to be. Therefore, the water side of water before you know there are cold water, hot water or brine in others, the situation is different for each type of water, according to the specific needs of different end of the water, such as stomach pain, can be sent to saltwater and justified. To follow this principle, Jang Geum know how to cook the most important thing is to understand the nature and characteristics of each raw material to understand the different raw materials with the law and in accordance with the requirements of consumers, using the most appropriate cooking manner. Even if the whale was not seen so long this can also make a tasty whale dishes, even if the loss of taste, she can also make amazing food. And long opponent this game today after the failure of the British in the diet, and finally to understand that to make good food must be a long way to do this, this method is still with the Han Palace saying is: "Draw the taste of food."
The buyer of the stock market or stock in fact this should be like a long cooking, to get beyond the market return on investment, through the independence of economic or business research and obtain the results of originality is an important way. In other words the buyer must complete an independent study of the system and logic, and enterprises and other research institutions to conduct research in parallel on the enterprise and judgments. This is reflected in two aspects: first of all is to understand the corporate financial data or economic data, such as technical analysis to avoid it, but I wonder why they only know based on past data to derive a simple smoothing to arrive the next time forecast. The researchers not only to distinguish each product or service revenues and costs, but also to study the company's profit model, in which the status of industrial value chain, as well as the development of the industry stage. Good buyer, research should be seen sooner than the companies to improve corporate profitability and performance declines, such as good research can come in early to judge this year's retail business profits may be better than expected, because past experience shows that , the economy of the late rising, consumption will accelerate. Second, independent analysis, to avoid the unconditional acceptance of companies or other research institutions for the future judgments. For example this week, Financial Street plunge was mainly due to fund managers on their investment behavior is not prudent to make judgments that do not optimistic, despite the short term, its financial data and no changes. Good buyer, research must have its own point of view and to express those views through the stock price, even if the point of view there is a conflict with the company's management, but this conflict would not only strengthen the communication between the operation of the business is also a great help.
