价值投资
价值投资是投资策略的一种,由本杰明·格雷厄姆和大卫·多德所提出。和价值投资法所对应的是成长投资法。其重点是透过基本面分析中的概念,例如高股息收益率、低市盈率(P/E,股价/每股净利润)和低市净率(P/B,股价/每股净资产),去寻找并投资于一些股价被低估的股票。
基本概念[编辑]
- 股票是公司的部分所有权
- 对于买入价格与公司资产估值之间的差距必须有足够安全边际
- 市场先生假说,市场是由价值投资者与投机者组成的,价值投资者必须尊重所有参与者
- 透过长期学习建立自己的投资能力圈,并只在能力圈内投资[1]
参看[编辑]
价值投资的书籍[编辑]
- Security Analysis (1934), by Benjamin Graham. ISBN 978-0-07-144820-8
- The Intelligent Investor (1949), by Benjamin Graham, ISBN 0-06-055566-1 (2008 edition)
- The Theory of Investment Value (1938), by John Burr Williams. ISBN 978-0-87034-126-7
- The Intelligent Investor (1949), by Benjamin Graham. ISBN 978-0-06-055566-5
- Common Stocks and Uncommon Profits (1958), by Philip Arthur Fisher. ISBN 978-0-471-11927-2
- You Can Be a Stock Market Genius (1997), by Joel Greenblatt. ISBN 978-0-684-84007-9.
- Contrarian Investment Strategies: The Next Generation (1998), by David Dreman. ISBN 978-0-684-81350-9.
- The Essays of Warren Buffett (2001), edited by Lawrence A. Cunningham (页面存档备份,存于互联网档案馆). ISBN 978-0-9664461-1-1.
- The Little Book That Beats the Market (2006), by Joel Greenblatt. ISBN 978-0-471-73306-5.
- The Little Book of Value Investing (2006), by Chris Browne. ISBN 978-0-470-05589-2.
- 曾广标 著. 價值投資實戰. [2012-10-28]. ISBN 9789626786949. (原始内容存档于2019-09-14).
外部链接[编辑]
- Warren Buffett's Letters to his Shareholders (页面存档备份,存于互联网档案馆)
- Superinvestors of Graham and Doddsville[永久失效链接]
- The Evolution of the Idea of "Value Investing": From Benjamin Graham to Warren Buffett (页面存档备份,存于互联网档案馆)
- What has Worked in Investing
- First Class Management (FCM) (页面存档备份,存于互联网档案馆) is a special situations-focused investment partnership based in Hong Kong.
参考资料[编辑]
- 秉承价值投资理念 方可分享股市发展成果 (页面存档备份,存于互联网档案馆) 中国经济网 2014-05-31
文献[编辑]
- ^ 作者:李彔LouisLi. 文明、現代化、價值投資與中國. 远见天下文化出版股份有限公司, 2020. 2020-10-30: 页数. ISBN 9789865535919 (中文(台湾)).