星期一, 5月 28, 2007

Picking Winners - Part 2

Lynch 提出好公司(股)的十三個特質,有些特質似乎比較主觀,但也不防一一列出;

1. It sounds dull - simple business with a boring company name.
2. It does something dull.
3. It does something disagreeable (I interprete it as "something niche")
4. It's a spinoff (large companies do not want to spin off divisions and then see those spinoffs get into trouble) 比亞狄即將分拆手提電話部門,這會可是機會?
5. The institutions don't own it, and the analysts don't follow it.
6. The rumors around: It's involved with toxic waste and/or the Mafla.
7. There's something depressing about it. (Lynch quotes an example that provides funeral services)
8. The company that can acquire market shares in no-growth industry
9. It's got a niche (niches can be brand name, patent, location ...etc)
10. People have to keep buying its products/services.
11. It's a user of technology (productivity increase with lower cost of technology)
12. The insiders are buyers
13. The company is buying back shares

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