To evaluate the investment value of an investment product, we must first figure out what the value is and the investment value.
Value is the gold content of the investment product itself, while investment value is the value of profitability.
For example, the current value per share of ** is 50 yuan, the stock price on the 8th of last month is 35 yuan, and the current stock price is 52 yuan.
Then, the ** "only worth 50 yuan per share" is its own gold content, which is its value.
When the stock price is 35 yuan, the ** is in an undervalued state, and the valuation of 15 yuan per share is less, which will be profitable, and the "investment value" will be generated.
And when its stock price is 50 yuan, ** enters an overvalued state, overvalued by 2 yuan per share, which is unprofitable and loses its investment value.
How much is it really worth, this is the "value".It is the result of the efforts of all employees of the company;Whether it is profitable or not, this is the "investment value"., which is determined by the difference between the market** and the value.
Investment value** compared to comparison。Both between the current and current values, and between the current and future values.
Or take the above ** as an example, the current ** 52 yuan, the value of each share is 50 yuan, the current overvaluation of 2 yuan, the current it has no investment value.
However, the value of the company is not constant, it is constantly changing.
So, if we can say for sure, the value per share of the ** can grow to $70 in the next five years.
Measured at the current stock price of $52, it also has investment value. It's just that the value of the investment at this time is to be realized in the future.
After figuring out the value and investment value, how do we evaluate the investment value of **?
It can be evaluated from the perspective of the underlying underlying assets.
*Can be subdivided into currencies**, bonds**, hybrid** and *** each of the underlying underlying assets is different, and its valuation criteria are also different.
For currencies**, we don't need to assess the value of their investments.
One is that it's only suitable for living expenses, pocket money, or money to be spent in the short term, which is only a small part of our asset allocation
Second, because the homogenization between currencies is very serious, there is basically no difference in yield and risk. Even if you do an assessment, it won't have a great effect.
In the case of bonds**, they are sensitive to "interest rates" because their underlying assets are bonds.
Therefore, we can use it as a heavyweight in the interest rate standard."10-year Treasury yieldto assess its investment value.
When the yield is higher than 3At 5%, we can consider the bond** to have investment value;When it is less than 3%, it loses its investment value.
For mixed ** and ***, because its lifeblood is completely controlled by the **manager, it is good to find itManagerIt became the key.
If you can find a manager whose performance has been on the level for a long time, then the ** he manages has investment value, and vice versa.
And for the special type of ***, that is to say, we often say the index**, its investment value should be from "".Transport"And".Valuation"Two assessments.
The general trend is in hand, and I have it in the world. Whether we are investing in a sector index** or a broad-based index**, we must choose the corresponding target with a long-term upward trend.
For example, if we buy a broad-based index**, then we have to invest in countries with good economic development, and we can't invest in countries whose economies are declining, such as China, but not Greece.
With fortune in hand, let's look at valuations.
The index is an aggregate of a basket of large ones. So, we can evaluate it with two indicators: price-to-earnings ratio and dividend yield.
If the valuation is reasonable, then the index** has investment value, and vice versa.
The value is how much it is worth, and the value of the investment is how much profit margin there is.
Currencies do not need to be valued, bonds look at the yield of 10-year Treasury bonds, mixed and rely on managers, and indices are in the fortune and valuation.
If you also liked this article, welcome to like, comment, and share it with your friends!
Attention".Dream InvestmentGet more **dry goods!
List of high-quality authors