Mark Mobius-cytaty z bloga

Mark Mobius – cytaty z bloga

Informacje inwestycyjne wyprzedzające rynkowe trendy

Mark Mobius –
1
Cytaty z bloga

1 Wszystkie cytaty zaprezentowane w opracowaniu pochodzą z bloga
http://mobius.blog.franklintempleton.com/

TobiaszMalinski.pl – Informacje inwestycyjne wyprzedzające rynkowe trendy
TobiaszMalinski.tv – Unikalne komentarze finansowe


Autor: Tobiasz Maliński

Utwór dostępny jest na zasadch licencji Crative Commons Uznanie autorstwa-
Użycie niekomercyjne-Bez utowrów zależnych 3.0.

Pełny tekst licencji: http://creativecommons.org/licenses/by-nc-nd/3.0/pl/legalcode



Spis treści
Filozofia inwestycyjna Marka Mobiusa ........................ 4
Cechy inwestora ................................................................................. 4
Zasady inwestycyjne .......................................................................... 4
Kryteria dokonywania inwestycji .................................. 6
Pozostałe komentarze finansowe................................... 7



Filozofia inwestycyjna Marka Mobiusa

Cechy inwestora

“The ability to take just the right amount of risk based on the most diligently
researched available information, in my mind, is the mark of a good investor”.

“While one can certainly learn numerous technical skills that help in making
investments or managing a portfolio, a large percentage of investing is still
psychological”.

“Take a long-term view even if you desire short-term rewards”.

“If we become increasingly humble about how little we know, we may be more
eager to search.”

„Investing in emerging markets can be viewed as a combination of art, science
and skill. Art is necessary to be creative. Science is required to examine the facts
and interpret them objectively. Skills are needed to understand the correct time
to buy and the correct time to sell”.

Zasady inwestycyjne

“There is but one thing I can disclose truthfully: There is no simple secret, no
single blueprint, no rigid roadmap that will guarantee you, me or anyone long-
term success as a global investor”.

“We have to learn to look beyond the short-term headline news — this is one of
the core principles of investing”.

“It can happen anywhere, only meticulous research and proper due diligence
can help to prevent investors from falling prey to such scams”. (like Bernard
Madoff pyramid).



“But as I have said many times, in any bull market we expect that there will be
corrections along the way. In our view, these corrections can be quite healthy,
because to us it means that valuations will come down to more reasonable
levels. This kind of volatility in emerging markets is what we expect and why it is
so important to have a long-term investment horizon”.

“Experience has shown that the best investment results can come from taking a
long-term view and not panicking when the news is bad or some crisis takes
place”.

“Volatility resides in all markets and bad times can be good times for investors,
which is why we always emphasize the importance of bottom-up research and
looking at stocks on a company-by-company basis”.

“Of course, when markets are down, it is the best time to start looking”.

“Remember that the time of maximum pessimism is the best time to buy and the
point of maximum optimism is the best time to sell”.

“In my opinion, it is impossible to produce superior results unless one does
something different from the majority”.

“In my view, shareholder activism is not a privilege – it is a right and a
responsibility. When we invest in a company, we own part of that company and
we are partly responsible for how that company progresses. If we believe there is
something going wrong with the company, then we, as shareholders, must
become active and vocal”.

„Our bottom-up, long-term approach is based on analyzing a wide range of
companies’ fundamentals such as earnings quality and growth, asset values, and
cash flow potential over a five-year horizon”.

„Focus on value, because most investors focus on outlooks and trends”.



„Firstly, we do not pick sectors or countries. Our focus first and foremost is on
individual stocks and it does not matter which sector or country they may be
in”.

Kryteria dokonywania inwestycji

“My personal theory is that countries that make it easy for travelers to enter
tend to be friendly to foreign investment”.

“The condition of the infrastructure is often a sign of economic efficiency”.

“Secondly — it is crucial to visit the countries and companies that we invest in.
On the fixed income side, especially when investing in the smaller emerging
markets that are now being called the Frontier Markets, we believe that the
market information is just not available on a Bloomberg screen and nothing
gives you a feel for a country more then a walk down the streets.”

“So, understanding a company’s exposure to derivatives is an important
question that we ask its management when we are looking at the balance sheet
and profit and loss statements”.

“In my opinion, good corporate governance brings with it transparency and
accountability that serve to govern those who control the company’s affairs
In order to allow wealth to filter down fairly, we must have a capital market that
enables the person on the street, who invests in stocks or mutual funds, to be
treated as fairly and equally as the wealthiest person”.

„Thus, when it comes to the IPO markets, the key is research. Do your
homework on the individual IPO with regards to its respective merit and
fundamentals before making an investment decision”.

„When we look at small-cap companies, we evaluate the management of the
company. We look at their competence and effectiveness. Do they understand
their business well and are they focused on good returns with long term
objectives?”



„If you are considering investing in emerging market small caps, I think three
things are most important: (1) study the companies and their respective
industries very intensively, (2) have patience and (3) take a long-term view in
order to see the long-term gain. These are a few resolutions that might be worth
adding to your list this year”.

Pozostałe komentarze finansowe

“While perhaps not popular, I believe it is necessary for governments to insist
on a separation of investment banking and regular banking and to ensure
complete transparency and liquidity of all derivatives”.

„When capital is raised, be it from taxes or from the savings of individuals for
investment, it must be put to productive use. Simply put, the capital must result
in higher productivity, that is, there should be more goods and services produced
for less capital. This translates to higher profitability”.

„The key is to have a government that acts as a true umpire, treating each
player fairly and applying the rules equally for all and independent of
corrupting external influences”.
„A free market model with an ineffective umpire, inadequate regulation and an
uneven playing field is likely no better than a government-led model with no real
capitalist system of incentives to maximize productivity”.

„People don’t think about problems in the context of history. They think that
today’s worries will always be there and that existing conditions can’t change. I
encourage people to try to foresee the future by considering the dramatic
changes we have seen already. Emerging market investing as a frontier sport
has made way for international investing, the search for bargains.”



„We believe Chile will continue to be a leader in Latin America, in terms of
managing the economy, encouraging investment, both local and foreign, and its
stable policies”.

„To combat inflation without endangering economic growth, we need to see
investments made in high-productivity industries and services”.

„Since my passion is to look for the best bargains I can find, I’d like to talk
about where I think the bargains are right now: emerging market small-cap
companies”.

„For our investing purposes, we define emerging market small-cap companies
as those having a market capitalization at the time of purchase of less than
US$2 billion”.

„In fact, we like many family-owned companies. They often have a long history
controlling and managing the company, and are often strongly committed to the
business. One factor we look at with these types of companies is strong
corporate governance and fair treatment of minority shareholders”.

„We are interested in companies that are domestic, regional and/or international
leaders, that focus on the core advantage of the countries in which they operate
and/or those that are likely to benefit from increased budget spending and
economic activity”.



Unikalne komentarze finansowe


Mark Mobius-cytaty z bloga

Recomendados

Recomendados

Más contenido relacionado

Último

Último (20)

Destacado

Destacado (20)

Mark Mobius-cytaty z bloga