An analytical model to teach you to find a good company.
To sum up, the stock investment methods in the market mainly come from two schools: fundamentals and technology.
Fundamental analysis: mainly analyze the basic situation of macro-economy, industry and company. Generally speaking, it refers to choosing a good company in a good industry and then buying it when its stock is cheap. To sum up, it is nine words: good industry, good company and good price.
1. Analyze the two concepts of the company.
qualitative analysis
Just like a liberal arts student, he provides you with some information and conclusions relatively directly. For example, your company is engaged in the Internet, which is an emerging industry with relatively good development prospects. This is a qualitative analysis.
quantitative analysis
More like a science student, he needs to verify and judge with actual data. For example, the average annual salary of employees in the Internet industry is 300,000, while in the education industry, the annual salary of an ordinary teacher may be about 6.5438+10,000. From the perspective of treatment, the Internet industry is obviously better, which is a quantitative analysis.
In reality, we must combine stereotype analysis with quantitative analysis in order to draw a reliable conclusion.
2. How to judge a good company?
Let's analyze the quality of a company from four common angles.
Angle 1: Are there opportunities and risks (O/T) in your industry?
First of all, we divide various industries into three categories according to their development: emerging industries, traditional industries and sunset industries.
Generally speaking, emerging industries have good development prospects, and once they encounter the wind, they will have explosive growth; The development prospects of traditional industries are generally stable, and some of them are rising steadily; The development momentum of sunset industry is relatively insufficient.
By observing the growth performance of the above three industries in the past five years, we will find that the computer industry (emerging industry) performed the best, with an increase of 46%; Transportation (traditional industries) increased by 28%, ranking second; Coal mining (sunset industry) performed the worst, with a cumulative decline of 10%.
Conclusion: From the data point of view, it is a wise decision to choose those industries with good development prospects and stay away from those sunset industries as far as possible.
Angle 2: Know your competitors.
After determining the industry, you should also know the competitors in this industry, that is, other companies with the same business as you.
How to query competitors:
The first step, through professional stock software, first inquire about specific listed companies, and then look for competitors in the same industry. For example, if you check the information of Haitian Ye Wei, you will find that this company is a company that produces soy sauce and belongs to the condiment industry.
In the second step, we found nine listed companies from the condiment industry.
In the third step, among these companies, we compared their main businesses and finally found a listed company that also produces soy sauce: Jiajia Food.
After finding competitors, we can make a detailed analysis of the two companies.
Angle 3: Competitive Advantage/Competitive Disadvantage (Software)
Analyze whether a company has a competitive advantage.
For example, Kweichow Moutai has two very unique advantages: First, the brand has a very high degree of recognition in the hearts of consumers; Second, the geographical location, the geographical location of Maotai Town, the origin of Moutai, is special, and the brewed wine is very distinctive, which cannot be replicated elsewhere. These advantages are also reflected in the stock price performance.
Angle 4: Development strategy
How to combine competitive advantage with external opportunities largely determines the company's development strategy.
For example, Kweichow Moutai has very unique geographical and brand advantages. Considering the unique position of liquor in high-end dinners in China, Maotai has always adopted a high-priced strategy, and the price of a bottle of liquor is more than 1,000 yuan. In order to avoid direct competition with Kweichow Moutai, other liquor industries voluntarily give up high-end consumers and mainly promote some low-end brands of liquor.
So although they are all liquor enterprises, each company will choose different development strategies because of the gap in competitiveness. These are all the information we need to know in advance when choosing a company.