Fwd: funny - as a market for life))
woman - it is akin to the stock company. When she is not born, it is 100%-owned subsidiary of his mother,>> an integral part. After the birth of its stock distributed inside>> Holding, which we call family. Some percentage falls into the> possession of his father, a significant package (often controlling) remains at the>> mother, grandparents and also gets the share, but often they are ->> Explicit minority shareholders.
Gradually girl grows, it becomes an adult, and with it through additional issues or just otsuzhivaniem during home calls takes stock of family holding on its balance sheet. And by the end of the school comes the golden age of IPO (initial public offering). As a rule, at a time girls did not squander a majority, and sell only small part of it to "feel out the interest" of the market.
Parents are advised IPO, but often they are more mature girl, who already have experience of IPOs. They can suggest the right trading platform, to make an independent evaluation of assets and recommend a price. Before the IPO are held numerous road-show in the dance clubs, bars, parks and other places where young investors.
They, too, is not interested in receiving direct control package.
interesting position of some large strategic investors in such IPO.
They bought an option to buy a controlling stake, receive dividends for some time, but eventually an option and is not executed.
The idea is that such cases should be punished, but not all issuers are willing to disclose such information, since it can further damage the listing and liquidity.
After high school, and about 40 years old girl issuers are starting to initial public offering majority of its shares. However, because it simply can not get investors. First you need to collect at least 1% of the share capital, to see register of shareholders. This makes it clear perspective and the approximate timing of buying up control. Further, bought up a blocking stake, the investor gets in the Council Directors and has an impact on financial and operational flows of the issuer. If the issuer is good, is actively growing, it has high profitability and great prospects, the investor gets shares to a controlling stake, and everyone is happy. This is a good development.
On the question of how much dividends should pay the woman there are many theories.
If an investor interested in current income, then it selects an issuer with a large dividend payments. However, this leads to reduce capital investment in the renewal of fixed assets in the future leads to deterioration of assets and as a consequence of a rapid reduction in profits and dividends. In our view, dividend policy should meet the sustainable development of the company.
market common practice of cross-ownership. This is a situation when a woman issuer has preferred shares, which are in the hands of outside shareholders. They have no voting rights but receive a small stable dividends. So investors like it when the issuer is no preferred shares. In fact, many men love to have the shares of several issuers in the portfolio: controlling stake in any one issuer and the small percentage of the preferred shares of other issuers. This is one of the ironies of the market.
if IPO fails and can not accommodate a controlling stake immediately, shares of women fall into the issuer to the Exchange. Here the fun begins.
most marketable female issuers traded on the "exchanges", they were listed, the information about them is known to investors. The data for these companies can be found even on the Internet, they have their own websites. However, this does not mean that their actions may show strong growth, as many of them are overvalued by the market. Rather, investors prefer to speculate on them, avoiding long-term investment.
most valuable papers submitted to the "second tier". This is exactly the growth stocks. Know about them only a certain range players and they are bought by strategic investors. Here they can not do without the analytical support as needed to calculate the fair value shares, to learn who the major shareholders, etc.
major issue of the owner of the issuer is the creation of subsidiaries. In the initial stages of the "daughters" These are the direct costs for the parent company, with no guarantee of economic benefit in the future. However, it can improve investment climate respect to the issuer and the investor. The presence of subsidiaries also reduces the liquidity of the issuer, which is good when an investor wants to go to the market packages minority shareholders.
Investors like to create index on the basis of quotations of women issuers to represent the general situation in the market. It is from this went a phrase like "in such a place (town, country) of the issuer the most beautiful."
Russian market in the world is one of the most attractive and undervalued. The capitalization of the issuers are not very big, but on fundamentals (earnings per share, dividend yield, etc.) they are stronger foreign analogues. This explains the considerable interest of foreign investors in Russian assets.
Investors like to discuss the issuers, to share their thoughts about the market, to share experiences. As it usually happens in the market "while attending the study of potential investment targets. It is important for novice investors, as they tend to buy raspiarenny illiquid.
Much of the investors to part with a controlling stake of the issuer through few years and shifted to the fast-growing stocks of young companies. This is due to large transaction costs, but investors are going for them in the hope a good return on new investments. In any case, it is a risky step, as an investor refuses to stable income and transparent business in favor of a new little known to him of the issuer. In our view, need to be absolutely sure of the need to "shake-up of the investment portfolio," before venturing it.
Top tips for investors.
* Do not get carried away speculation in the market, it can be ruinous.
* Do not put all the right tools in a single issuer. It's risky.
* Do not trust 100% of the recommendations of analysts. Be sure to spend his own, at least a minimum estimate.
* By purchasing a controlling stake of the issuer, not rasslamlyaytes. There is always the possibility of an additional issue that would lead to dilution of your share.
* Women love to give their shares in nominal holding. Make sure that the shares were actually in your account.
* By purchasing a controlling stake, do not skimp on capital investment and significant depreciation. Than they are, the greater the dividend you can expect in the future.
* buying up a controlling stake is best done in such a way to the market this is not seen, "otherwise there is a risk of strong bully quotes and overpay.
initial conditions of investment in man.
1. As there is no ideal investment tool and there is no perfect man.
2. All men, as well as investment instruments, have three important characteristics: reliability, liquidity, profitability.
3. H adezhnye men tend to have low returns 4. Men with high incomes are unreliable.
5. Henadezhnye men low income is not liquid. They are very difficult to get rid of.
6. Hadezhnye and income men have very high liquidity. The problem is that they are difficult to find and even harder to retain in its investment portfolio.
7. High demand for reliable and profitable results in men (and sometimes suddenly) to ensure that they lose or its reliability or its profitability.
As they say - the paper has deteriorated)
8. To avoid large drawdowns of life with a reasonable return is recommended About 70% of the time to invest in reliable low-income men, 25% in several high-yielding, but unreliable and not to exceed 5% reliable and high yield (see Section 7) as say - diversification 9.Esli you had the opportunity to acquire a majority of reliable and highly profitable men, then there is something you have not noticed.
0 comments:
Post a Comment