Có 160+ tài liệu thuộc chủ đề "tài liệu chứng khoán"
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At the start of the month, 1 was up 30 percent for the year. At the time I went short, the ratios of the stock price to the valuation measures—sales per share, earnings per share, cash flow [earnings plus depreciation and amortization] per share, book value per share—were higher than they had ever been before. The stock went up 34...
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He times these asset transfers with such precision that he more than triples the average annual returns of the funds he invests in while sidestepping the bulk of their periodic downturns.. For reasons he explains in the interview, Steve Lescarbeau is almost paranoid about revealing any details about his trading systems. The middle portion of the interview was conducted over...
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He will exit a trade whenever one of the following three conditions are met: (a) his profit objective for the trade is realized. Bender has maintained a surprisingly low profile, in view of the large sums of money he is managing and his excellent performance. His fund did not show up in any of the industry databases I checked. I...
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In offices Situated on the upper floors of a Midtown Manhattan skyscraper, Shaw has assembled scores of the country's most brilliant mathemati- cians, physicists, and computer scientists with one purpose in mind: to combine their quantitative skills to consistently extract profits from the world's financial markets. What market anomalies that once provided trading opportunities have so obviously ceased to exist...
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CCC-Boroson FM (i-x PM Page i. CCC-Boroson FM (i-x PM Page ii. CCC-Boroson FM (i-x PM Page iii. of the The Intelligent Investor Fourth Revised Edition, by Benjamin Graham.. 3 Buffett: A Life in the Stock Market 17. 7 Buffett’s 12 Investing Principles 53. CCC-Boroson FM (i-x PM Page v. 27 Robert Torray of the Torray Fund 185. 29 James...
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Before buying a stock, he evaluates the excel- lence of a company’s product or service, the quality of manage- ment, the future possibilities for the company, and the power of the competition.. “A thorough understanding of the business, obtained by using his techniques. After suffering two terrible years in the stock market, investors were disgusted with their current brokers and...
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Alas, it’s not easy to distinguish between a stock that’s cheap and a stock that’s fully priced or even overpriced. In other words, a seeming screaming bargain might just turn out to be a problem stock. stocks that seem to be screaming bargains. Enough of them should turn out to be the genuine article, providing you with a de- cent...
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Apparently the root cause of the trouble was that GEICO was in- suring too many problem drivers, whose claims were keeping the company from being profitable. A sign that a company is overex- tended: Its sales are more than three times its equity, the value of the stocks all shareholders own. In 1996 Berkshire Hathaway bought most of the remainder...
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When it comes to corporate blunders, CEOs invoke the concept of the Virgin Birth.. O ne recurring theme of the Berkshire annual reports is: Buffett makes a lot of mistakes. As he wrote in the 2000 annual report,. “I’m the fellow, remember, who thought he understood the future economics of trading stamps, textiles, shoes, and second-tier depart- ment stores,” referring...
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If you had invested $10,000 in Sequoia in 1970, your money would have been worth at the close of the year 2000.. Alas, Sequoia bolted its door to new investors in the year King John signed the Magna Carta (or maybe it was only as recently as 1982).. The chairman of the Sequoia Fund is William J. Ruane’s office is...
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“He’s a control investor,” he replied. What are Buffett’s special gifts? “Of all the people I know,” replied Whitman, “he has the most uncanny insights into people. It’s a great talent. “I don’t know who that young guy was,” he said sweetly, referring to the Wall Street Journal writer, “but he’s a com- plete idiot.” Vintage Whitman. Another way Whitman...
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“We do a more diligent job of analyzing companies,” he answered.. “Also, other people say they’re contrarians but they don’t invest that way.” This was before the ascension of Bill Miller, the Legg Mason money manager (Legg Mason Value Trust) who committed heresy by purchasing a variety of Internet stocks.. Most of the time we don’t try to be that...
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An offering price (we don’t want to waste our time or that of the seller by talking, even preliminarily, about a transaction when price is unknown). Charlie [Munger, Buffett’s partner] and I frequently get ap- proached about acquisitions that don’t come close to meeting our tests: We’ve found that if you advertise an interest in collies, a lot of people...
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READING THE MARKET PROFILE ®GRAPHIC. Part VI analyzes Liquidity Data Bank ® volume in order to gauge strength or weakness in the market.. His research shows that the market has only a. THE MARKET'S ORGANIZATIONAL STRUCTURE. In order to use the Market Profile ® tools, you have to know what makes them work. The idea for the Market Profile ®...
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16 The wider the 70% range, the better the market is facilitating trade.. o4 The rectangles representing value move up or down as the market. the right only if the auction stalls and the market starts to trade. In other words, the market may continue to move up but at a decreasing rate.. response) could be an indication that the...
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Care has been taken in the preparation of this material, but there is no warranty or representation expressed or implied by the Chicago Board of Trade to the accuracy or completeness of the material herein.. Your legal counsel should be consulted concerning legal restrictions applicable to your particular situation which might preclude or limit your use of the futures market...
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The market came into balance in the night session and the down move continued on 6/10.. most of the capital now enters the market from off the exchange floors.. They move the market direc- tionally. If the market is moving sideways, it is developing. As noted above, this is basically all you have in the market. only captures the market's...
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The Market Profile format shows the directional move-the range-on the vertical axis. The Market Profile format shows the bulge (the balance area, the volume base or value) on the horizontal axis.. That's how the market works.. Or, will the market violate it?. The directional move that reflects the cash flow into the market is distribution. The cash flow is up...
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Part I organizes price and time into the Market Profile graphic. If volume increases as price moves up or down, the market is facilitating trade. If the market is facilitating trade, the move generally tends to continue. Why? The market has to go higher or lower to shut off the activity. In J period, the market trades at 93-19. The...
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Protecting Your Wealth. FerriFMRev.qxd PM Page i. FerriFMRev.qxd PM Page ii. FerriFMRev.qxd PM Page iii. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data- base or retrieval system, without...