{"id":558,"date":"2016-11-24T12:54:31","date_gmt":"2016-11-24T05:54:31","guid":{"rendered":"http:\/\/robostock.vn\/web\/?p=558"},"modified":"2016-11-24T12:54:31","modified_gmt":"2016-11-24T05:54:31","slug":"tinh-kien-nhan-trong-phuong-phap-dau-tu-cua-warren-buffett","status":"publish","type":"post","link":"https:\/\/robostock.vn\/web\/tinh-kien-nhan-trong-phuong-phap-dau-tu-cua-warren-buffett\/","title":{"rendered":"T\u00ednh ‘ki\u00ean nh\u1eabn’ trong ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffett"},"content":{"rendered":"

\t\t\t\t\"K\u1ebft<\/p>\n

– Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffet kh\u1edfi ngu\u1ed3n t\u1eeb hai ng\u01b0\u1eddi th\u1ea7y c\u00f3 s\u1ee9c \u1ea3nh h\u01b0\u1edfng l\u1edbn l\u00ean \u00f4ng. \u0110\u1ea7u ti\u00ean l\u00e0 Benjamin Graham cha \u0111\u1ebb ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb. K\u1ebf ti\u1ebfp l\u00e0 Phil Fisher, cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft t\u0103ng tr\u01b0\u1edfng.<\/p>\n

– V\u00e0 \u1edf c\u1ea3 hai ph\u01b0\u01a1ng ph\u00e1p th\u00ec t\u00ednh ki\u00ean nh\u1eabn trong \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffett \u0111\u1ec1u \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng.<\/p>\n

<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffet kh\u1edfi ngu\u1ed3n t\u1eeb hai ng\u01b0\u1eddi th\u1ea7y c\u00f3 s\u1ee9c \u1ea3nh h\u01b0\u1edfng l\u1edbn l\u00ean \u00f4ng. \u0110\u1ea7u ti\u00ean l\u00e0 Benjamin Graham cha \u0111\u1ebb ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb. K\u1ebf ti\u1ebfp l\u00e0 Phil Fisher, cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft t\u0103ng tr\u01b0\u1edfng.<\/p>\n

Graham \u1edf B\u1edd \u0110\u00f4ng v\u00e0 thu\u1ed9c tr\u01b0\u1eddng ph\u00e1i c\u1ed5 \u0111i\u1ec3n. Fisher \u1edf B\u1edd T\u00e2y v\u00e0 thu\u1ed9c tr\u01b0\u1eddng ph\u00e1i m\u1edbi. Graham thi\u00ean v\u1ec1 \u0111\u1ecbnh l\u01b0\u1ee3ng, v\u1edbi c\u00e1c nguy\u00ean t\u1eafc ch\u1ec9 xem x\u00e9t nh\u1eefng g\u00ec c\u00f3 th\u1ec3 \u0111o l\u01b0\u1eddng \u0111\u01b0\u1ee3c. Nh\u01b0 b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n hay b\u00e1o c\u00e1o k\u1ebft qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a c\u00f4ng ty.<\/p>\n

C\u00f2n Fisher th\u00ec nghi\u00eang h\u1eb3n v\u1ec1 kh\u00e1i ni\u1ec7m \u0111\u1ecbnh t\u00ednh trong \u0111\u1ea7u t\u01b0. N\u00f3 bao g\u1ed3m nh\u1eefng y\u1ebfu t\u1ed1 kh\u00f3 \u0111o l\u01b0\u1eddng li\u00ean quan \u0111\u1ebfn con ng\u01b0\u1eddi, h\u1ec7 th\u1ed1ng qu\u1ea3n l\u00fd, th\u01b0\u01a1ng hi\u1ec7u v\u00e0 nh\u1eefng l\u1ee3i th\u1ebf c\u1ea1nh tranh kh\u00e1c c\u00f3 th\u1ec3 l\u00e0m cho b\u1ea1n ch\u1ea5p nh\u1eadn tr\u1ea3 nhi\u1ec1u ti\u1ec1n h\u01a1n \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty.<\/p>\n

C\u00f3 l\u1ea7n, Warren Buffett t\u1eebng n\u00f3i r\u1eb1ng ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng th\u1eeba h\u01b0\u1edfng 85% t\u1eeb Benjamin Graham v\u00e0 15% c\u00f2n l\u1ea1i t\u1eeb Fisher. <\/strong>T\u1eeb c\u00e2u n\u00f3i tr\u00ean, ch\u00fang ta c\u00f3 th\u1ec3 k\u1ebft lu\u1eadn Buffett kh\u00f4ng h\u1ec1 ph\u00e1t minh ra m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 m\u1edbi m\u1ebb n\u00e0o c\u1ea3.<\/p>\n

Nh\u01b0ng \u00f4ng l\u1ea1i l\u00e0 b\u1eadc th\u1ea7y trong vi\u1ec7c \u00e1p d\u1ee5ng nh\u1eefng ki\u1ebfn th\u1ee9c c\u00f3 s\u1eb5n. Nh\u1eefng tri th\u1ee9c uy\u00ean th\u00e2m t\u1eeb hai ng\u01b0\u1eddi th\u1ea7y Graham v\u00e0 Fisher. T\u1eeb \u0111\u00f3 t\u1ea1o ra s\u1ef1 h\u00f2a quy\u1ec7n v\u00e0 cu\u1ed1i c\u00f9ng l\u00e0 mang d\u1ea5u \u1ea5n ri\u00eang, phong c\u00e1ch \u0111\u1ea7u t\u01b0 c\u1ee7a ch\u00ednh Warren Buffett.<\/p>\n

C\u00f3 c\u1ea3m t\u01b0\u1edfng r\u1eb1ng, Buffett nh\u01b0 m\u1ed9t ch\u00e0ng h\u1ecdc tr\u00f2 xu\u1ea5t s\u1eafc c\u1ee7a hai cha \u0111\u1ebb h\u1ecdc thuy\u1ebft gi\u00e1 tr\u1ecb v\u00e0 t\u0103ng tr\u01b0\u1edfng. Th\u1eadt v\u1eady, Buffett l\u00e0 sinh vi\u00ean duy nh\u1ea5t \u0111\u01b0\u1ee3c \u0111i\u1ec3m A+ trong l\u1edbp h\u1ecdc \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n c\u1ee7a th\u1ea7y Graham.<\/p>\n

S\u1ef1 \u1ea3nh h\u01b0\u1edfng c\u1ee7a Graham l\u00ean Buffet l\u1edbn h\u01a1n Fisher. V\u00ec th\u1ebf, Buffett \u0111\u01b0\u1ee3c bi\u1ebft \u0111\u1ebfn nhi\u1ec1u h\u01a1n b\u1edfi tr\u01b0\u1eddng ph\u00e1i gi\u00e1 tr\u1ecb. \u0110\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb l\u00e0 ch\u1ecdn m\u1ed9t c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi gi\u00e1 tr\u1ecb th\u1ef1c (c\u1ed5 phi\u1ebfu r\u1ebb), t\u1eeb \u0111\u00f3 k\u1ef3 v\u1ecdng gi\u00e1 s\u1ebd quay v\u1ec1 \u0111\u00fang v\u1edbi gi\u00e1 tr\u1ecb th\u1ef1c, t\u1ee9c t\u0103ng gi\u00e1.<\/strong><\/p>\n

Nh\u01b0 v\u1eady th\u00ec \u0111i\u1ec1u g\u00ec khi\u1ebfn m\u1ed9t c\u1ed5 phi\u1ebfu r\u1ebb t\u00ecm \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a m\u00ecnh? \u0110\u00e2y ch\u00ednh x\u00e1c l\u00e0 c\u00e2u h\u1ecfi m\u00e0 U\u1ef7 ban Ng\u00e2n H\u00e0ng Th\u01b0\u1ee3ng Vi\u1ec7n Hoa K\u1ef3 \u0111\u00e3 ch\u1ea5t v\u1ea5n h\u1ecdc thuy\u1ebft \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u1ee7a Benjamin Graham.<\/p>\n

Theo Graham th\u00ec \u0111\u00f3 l\u00e0 n\u00e9t h\u1ea5p d\u1eabn v\u00e0 l\u00f4i cu\u1ed1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. N\u00f3 kh\u00f4ng nh\u1eefng b\u00ed \u1ea9n \u0111\u1ed1i v\u1edbi Graham m\u00e0 c\u00f2n b\u00ed \u1ea9n \u0111\u1ed1i v\u1edbi r\u1ea5t nhi\u1ec1u ng\u01b0\u1eddi kh\u00e1c. Nh\u01b0ng kinh nghi\u1ec7m s\u1ebd cho ch\u00fang ta th\u1ea5y r\u1eb1ng cu\u1ed1i c\u00f9ng th\u00ec th\u1ecb tr\u01b0\u1eddng s\u1ebd theo k\u1ecbp v\u1edbi gi\u00e1 tr\u1ecb.<\/p>\n

D\u00f9 h\u1ebft s\u1ee9c ng\u1eafn g\u1ecdn, nh\u01b0ng c\u00e2u tr\u1ea3 l\u1eddi c\u1ee7a Graham ch\u00ednh l\u00e0 n\u1ec1n t\u1ea3ng cho s\u1ef1 nghi\u1ec7p \u0111\u1ea7u t\u01b0 c\u1ee7a Buffett. C\u1ed5 phi\u1ebfu s\u1ebd t\u0103ng l\u00ean theo gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a ch\u00fang. Do \u0111\u00f3, m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 khi \u0111\u00e3 tin t\u01b0\u1edfng v\u00e0o s\u1ef1 \u0111\u00e1nh gi\u00e1 c\u1ee7a m\u00ecnh v\u1ec1 doanh ngi\u1ec7p th\u00ec c\u1ea7n ph\u1ea3i ki\u00ean nh\u1eabn. Th\u1eadt v\u1eady, \u0111\u00f4i khi t\u00ednh ki\u00ean nh\u1eabn \u0111\u1ec3 th\u00e0nh c\u00f4ng trong \u0111\u1ea7u t\u01b0 v\u1edbi ph\u01b0\u01a1ng ph\u00e1p gi\u00e1 tr\u1ecb c\u0169ng r\u1ea5t quan tr\u1ecdng.<\/p>\n

N\u00f3i t\u00f3m l\u1ea1i, m\u1ee5c \u0111\u00edch c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p gi\u00e1 tr\u1ecb l\u00e0 c\u1ed5 phi\u1ebfu s\u1ebd t\u0103ng l\u00ean \u0111\u1ebfn gi\u00e1 tr\u1ecb th\u1ef1c. N\u1ebfu th\u1ebf th\u00ec h\u1ecdc thuy\u1ebft \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng c\u00f3 g\u00ec kh\u00e1c v\u1edbi \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb.<\/p>\n

N\u00f3 kh\u00e1c \u1edf c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u1ec3 l\u1ef1a ch\u1ecdn m\u1ed9t c\u1ed5 phi\u1ebfu. Nh\u01b0ng m\u1ee5c \u0111\u00edch c\u1ee7a ch\u00fang th\u00ec c\u00f3 v\u1ebb gi\u1ed1ng nhau. T\u1ee9c l\u00e0 k\u1ef3 v\u1ecdng c\u1ed5 phi\u1ebfu s\u1ebd t\u0103ng so v\u1edbi khi mua. Nh\u01b0 v\u1eady th\u00ec l\u00fd thuy\u1ebft \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb v\u00e0 t\u0103ng tr\u01b0\u1edfng l\u00e0 hai m\u1eb7t c\u1ee7a m\u1ed9t v\u1ea5n \u0111\u1ec1. \u0110\u1ec1u c\u00f3 m\u1ee5c ti\u00eau l\u00e0 t\u0103ng tr\u01b0\u1edfng.<\/p>\n

Gi\u1ed1ng nh\u01b0 ph\u01b0\u01a1ng ph\u00e1p gi\u00e1 tr\u1ecb, h\u1ecdc thuy\u1ebft t\u0103ng tr\u01b0\u1edfng l\u00e0 ch\u1ecdn m\u1ed9t c\u1ed5 phi\u1ebfu m\u00e0 khi so v\u1edbi t\u01b0\u01a1ng lai c\u1ee7a n\u00f3 th\u00ec m\u1ee9c gi\u00e1 \u1edf th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i l\u00e0 r\u1ebb. N\u1ebfu v\u1eady th\u00ec qu\u00e1 tr\u00ecnh b\u00ean trong \u0111\u1ec3 m\u1ed9t c\u00f4ng ty n\u1ed7 l\u1ef1c ph\u00e1t tri\u1ec3n v\u01b0\u1ee3t b\u1eadc trong t\u01b0\u01a1ng lai r\u1ed3i sau \u0111\u00f3 \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n ra ngoai b\u1edfi m\u1ee9c gi\u00e1 th\u1ecb tr\u01b0\u1eddng th\u00ec c\u1ea7n m\u1ed9t kho\u1ea3n th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh.<\/p>\n

\u0110i\u1ec1u \u0111\u00f3 lu\u00f4n th\u1eed th\u00e1ch l\u00f2ng ki\u00ean nh\u1eabn c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0. B\u1ea1n gi\u1eef chi\u1ebfc \u0111\u1ea7u l\u1ea1nh trong khi nh\u1eefng ng\u01b0\u1eddi kh\u00e1c m\u1ea5t h\u1ebft ki\u00ean nh\u1eabn th\u00ec s\u1ebd lu\u00f4n c\u00f3 ph\u1ea7n th\u01b0\u1edfng tr\u00ean h\u00e0nh tr\u00ecnh d\u00e0nh cho b\u1ea1n.<\/p>\n

Cu\u1ed1i c\u00f9ng, \u0111\u1ec3 th\u00e0nh c\u00f4ng trong hai ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 th\u00f4ng d\u1ee5ng tr\u00ean th\u00ec \u0111\u1ec1u c\u1ea7n \u0111\u1ebfn s\u1ef1 ki\u00ean nh\u1eabn. M\u1ed9t khi c\u00f2n th\u1eafc m\u1eafc hay ch\u01b0a th\u1ecfa \u0111\u00e1ng v\u1ec1 s\u1ef1 quan tr\u1ecdng c\u1ee7a t\u00ednh ki\u00ean nh\u1eabn trong \u0111\u1ea7u t\u01b0 th\u00ec ch\u00ednh s\u1ef1 nghi\u1ec7p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffett lu\u00f4n l\u00e0 d\u1eabn ch\u1ee9ng thuy\u1ebft ph\u1ee5c nh\u1ea5t.<\/p>\n

Theo Tr\u00ed Th\u1ee9c Tr\u1ebb\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"

– Ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffet kh\u1edfi ngu\u1ed3n t\u1eeb hai ng\u01b0\u1eddi th\u1ea7y c\u00f3 s\u1ee9c \u1ea3nh h\u01b0\u1edfng l\u1edbn l\u00ean \u00f4ng. \u0110\u1ea7u ti\u00ean l\u00e0 Benjamin Graham cha \u0111\u1ebb ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb. K\u1ebf ti\u1ebfp l\u00e0 Phil Fisher, cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft t\u0103ng tr\u01b0\u1edfng. – V\u00e0 \u1edf c\u1ea3 hai ph\u01b0\u01a1ng ph\u00e1p th\u00ec t\u00ednh … Continue reading “T\u00ednh ‘ki\u00ean nh\u1eabn’ trong ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u1ee7a Warren Buffett”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-558","post","type-post","status-publish","format-standard","hentry","category-dau-tu"],"_links":{"self":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts\/558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/comments?post=558"}],"version-history":[{"count":0,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/posts\/558\/revisions"}],"wp:attachment":[{"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/media?parent=558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/categories?post=558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/robostock.vn\/web\/wp-json\/wp\/v2\/tags?post=558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}