Company size
There are a number of investors who intentionally limit their choice of stocks from companies of a particular size, either in terms of revenue or market capitalization. This is done ordinarily by classifying companies according to market capitalization (“cap”), namely as micro caps, small caps, mid-caps and large caps. Over a long time period, bigger companies show higher returns than smaller companies do. Some investors thus believe that the size of market capitalization of companies has a great bearing on how the market responds to these companies; and the actual proportionate revenues provide a reliable indication of relative investment potentials. The generally-accepted classification followed by investors is as shown below: Micro cap – Not more than $250 million Small cap -- $250 million-$2 billion Mid cap -- $2 billion-$10 billion Large cap – Not less than $10 billion Most publicly-traded firms are classified as micro or small caps. Statisticians are of the opinion that the apparent success of smaller businesses can be attributed to "survivor" bias rather than solid excellent performance, since the majority of the databases utilized for the tests conveniently removed bankrupt companies, up to recent times. That is, excluding bankrupt companies aided significantly in stacking the odds of success in their favor. This issue, however, remains debatable. Screen-based investing The “screen” method of investing is resorted to by many investors, which involves using "screens" to choose investments while applying various quantitative criteria to evaluate those companies that satisfy their criteria. Because of the ease and convenience of the method through the use of computers, it has gained a lot of practitioners. These screens can display various numerical values describing a company's status as well as its stock through different time periods. While there are investors who use these screens to come up with interpretations of fundamental relevance to the business in general, many others utilize screens as “robot-like models" that simply point them to which ones to buy and sell. They claim that this process takes away the emotional factor in the investing process; although others think otherwise and say what you remove is the intelligence factor. Eric Ryback is widely known for his use of screens as a starting step in investing; while James O'Shaughnessy among the known proponents of screens as a pure mechanical system. As a beginner, you have to decide how you play – with the heart or with the mind or with both. Momentum The momentum of investing involves finding companies which do not only show good performance but also doing so well that they deserve celebrity status. "Well" is the term used to describe companies that stand out among all public companies that investors expect to show positive performance? Momentum companies, therefore, are those which frequently surpass estimated earnings per share or revenue by analysts, or post high quarterly and annual returns and sales growth compared to other firms, especially when the growth rate climbs from one quarter to the next. Such growth is a strong indication that the company is apparently doing the right things. Often, such high comparative strength is a category in momentum screens, as these investors seek to acquire stocks that have overtaken the rest of the stocks in recent months. CANSLIM CANSLIM is an approach originated by William J. O'Neil, who merged quantitative analysis and technical analysis, as contained in his book How to Make Money in Stocks. In O’Neil’s newspaper, Investor's Business Daily, we are told that the "C'' and ''A'' in the formula CANSLIM urges investors to find companies with fast-growing Current and Annual earnings. ''N'' is for New, to refer to business factors, such as new products, new markets, or new management. ''S'' represents Small capitalization and big volume market demand. ''L'' asks investor to determine if the business is a Leader or Laggard. ''I'' helps to spy out for Institutional sponsorship; and ''M'' focuses on the Market direction. Originally, O’Neil published Investor's Business Daily as a means for investors to apply CANSLIM; but it has turned into a general business publication patronized by all kinds of investors. CANSLIM formula incorporates features of another type of analysis -- technical analysis. Quantitative analysis pitfalls Since quantitative approach depends on screens which all people can see and as digital technology becomes more affordable and accessible, many of the pricing inaccuracies quantitative analysis discovers are eventually erased. Hence, if a certain screen has produced 40% yearly revenues and everyone hears about it, leading to large inflows of money into the identified companies, the returns will suffer gradually as a result. As "unclear" as fundamental analysis may seem, sometimes having a little insight about the business you are buying can lead to a clear advantage. For example, if you utilize a high-comparative-strength screen, you must check at all times to see if the companies you discover have grown in price as a result of a merger or an acquisition. In that case, chances are the price will remain as is, even if the "screen" that picked this company had historically high annual revenues. Technical Analysis -- Buying the Chart What happens if you become fully convinced that all facts about publicly-traded companies were completely disseminated, giving no one any advantage whatsoever by either evaluating the business or interpreting the numbers? What does that leave you to do? You can try forgetting about beating the returns in the market by buying an index fund. There is another option which investors have taken: trying to build a set of charts that might show how other investors evaluated a stock at any certain time, specifically finding traces of large institutional investors which often lead to very significant price fluctuations. This approach, which some investors apply, is referred to as technical analysts and uses charts that practitioners believe can bring information and insight into the psychology affecting the behavior of a stock. As it is in other areas, many chart purists exist, although some investors turn to charts only to time investments after they have checked out the charts through the eyes of a fundamental or quantitative analyst. We cannot present a step-by-step process to describe technical analysis; but various several tools exist. The most significant indicators appear to be definitive chart patterns portraying certain price fluctuations during times when the volume of trading hits a particular level. Some of the often used charts are the following: logarithmic charts, point-and-figure charts, Japanese candlesticks, and others. Technical analysis pitfalls Technical analysis is based on the presumption that specific chart patterns confirm indications of market psychology pertaining to either a particular stock or the market in general at crucial points. So far, much of the statistical research academics have conducted to assess whether indeed these chart forms really predict has not confirmed the supposition, as discussed by Burton Malkiel in his book, A Random Walk Down Wall Street. As with supposed new cure-all drugs or supplements out on the market, much of the trust in technical analysis revolves around anecdotal experience and not some form of durable statistical validation, unlike some fundamental and quantitative approaches which have so often successfully predicted future events. As one critic quipped, “Technical analysis is essentially as useful as reading tea leaves.” Trading -- Doing What Works Trading has gained such popularity, taking on celebrity status at par with such figures as Michael Phelps and Pokemons. And this happened while trading commissions have come and gone and growing numbers of people have gotten their hands on real-time information about stock prices. Commonly, traders utilize a medley of fundamental, quantitative and technical approaches with a short-term direction. This tends to make trading a high-strung activity where an investor hopes to catch a few percentage points from each trade. Hence, in spite of its popularity, trading is never a structured, rational compilation of information we can reduce into a small primer. So many beginning investors who started out hypnotized by the perceived pie-in-the-sky appearance of trading, often lose a lot of money before discovering that with thousands of other traders running after the same pie, oftentimes, the fastest, most experienced, and most well-equipped technically are the ones who make money -- and these are usually the veteran investors and not novices. Successful trading, as every trader will emphatically say, demands meticulous focus, discipline and diligent work; so anyone who thinks that using a Quotrek while holding down a job at a fast food outlet might want to reconsider. Arguments against trading Obviously, trading requires much time to become good at it. Yes, we have heard of many superstar traders; but we often forget that these traders have the equipment and the time of day – perhaps, the whole day -- to trade consistently. It may sound discouraging; but considering the time and effort that most successful traders put to engage in trading; the prospects for beginners to attain the same benefits with less effort and fewer resources is quite low. With the amount of money involved in the stretch of a day to a year investment time-period, a person with limited time will potentially gain greater success in a personal business venture on a long-term basis than diving headlong into a Vegas-like environment. Summary For now, you may be capable of naming and defining accurately every acronym of approaches we have discussed, such as CANSLIM and GARP. Likewise, you have understood some underlying investing principles minus those odd acronyms. You know the gist of such methods as fundamental, quantitative, and technical analysis used in choosing stocks. Most probably, you will eventually devise your own peculiar style of investing. And as you increase you knowhow and expertise in this exciting adventure, you will build your personal investing philosophy that will fit your own special needs and objectives perfectly. Many people will never experience how it is to invest in stocks. They are, sadly, missing the great benefits as well as the possibilities that they and their money are capable of doing. If you are one of those people, take a few minutes to consider how you can begin the experience and find out what it has really in store for you.
Mutual funds provide the appropriate ice-breaker for beginners. For just a few hundred bucks, mutual funds can offer you easy access to thousands of various stocks, giving every investor enough protection from the variety of broad-based mutual funds. The potential of losing a significant amount of money may happen when the whole market melts down; however, losing in one or two companies will not hurt as much as long as your overall portfolio remains buoyant. On the other hand, investing in individual stocks can bring higher returns. This is because choosing the right individual stocks can offer potentially greater benefits compared to a diversified mutual fund. How do the winners choose? As with everything else in life, those who succeed are the ones who have perfected the method of diminishing, if not totally eliminating, careless mistakes or choices. A chef always has to depend on a recipe to make a perfect dish. A chess player will have to decide the best opening or defense to defeat one’s opponent and use either to gain the best positions. A teacher will need to prepare an outline of every lesson before facing a class. Investors also need a viable strategy. There are specialized approaches to investing; but first, you have to get acquainted with the various methods for analyzing stocks. Chess playing can be more nerve-wracking or head-splitting than investing; nevertheless, you have to spend enough time seriously planning how to invest your hard-earned money. Analyzing Fundamentals -- Buying a Business (Value, Growth, Income, GARP, Quality) Buying a share of stock represents your owning part of a business or company. Hence, in order to determine the right value of a stock, you should figure out how much the company’s worth is. In general, this is done by evaluating the financials of a business, breaking it down in terms of the value of each share to arrive at the proportional worth of the share of the business. We often refer to this as "fundamental" analysis; and for many people, no other alternative way of evaluating stocks is as good. In spite of the fact that evaluating a business may seem like an easy task, the challenge arises from the availability of various methods of fundamental analysis. Investors usually raise contrary views and apply subcategories in their desire to fully comprehend their chosen investing approach. Ultimately, most of them apply a method that incorporates the best strategies of various approaches. Whatever unique characteristics that differentiate these approaches are generally invented academic techniques and not real practical distinctions. And so, economists who evaluate the stock market categorize value and growth while practitioners consider these labels to be very useful. It will serve some good for the beginning investor to understand the following descriptions; hence, we will clarify what most investors mean in using these terms, although you must take care to verify the exact meaning of any person using them. Value A wise guy once said that a cynic is anyone “who knows the price of everything and the value of nothing.” That may apply to many people; but your goal as an investor is to know the price and the value of a firm’s stock, that is, to buy companies at a considerable discount to their intrinsic value or the worth of the business if sold the following day. In short, every investor is essentially a "value" investor, buying a stock whose value is greater than the price paid for it. Ordinarily, value investors intentionally look for the liquidation value of a company, meaning to say, the value of the assets if sold tomorrow. Nevertheless, the concept of intrinsic value is not explicitly attached to the liquidation value, making value quite an elusive matter to pin down. This only goes to show that while so many value investors have their own specific views, not everyone using the term "value" agree on one meaning. Benjamin Graham is considered as the pioneer who established the foundation for modern value investing, in his 1934 book, Security Analysis (with co-writer David Dodd), which is currently used by many investors. There are other personalities known as dedicated practitioners of the value method, such as Michael Price and Sir John Templeton. Most of them apply extremely stringent guidelines for buying a company's stock. Their rules are often usually founded on the connections of the present market price of the business to specific business fundamentals. The following are examples: · Price-to-earnings ratios (P/E) beneath a specific absolute limit · Dividend returns beyond a specific absolute limit · Total sales at a specific level in relation to the firm's market value · Book value of each share at a specific level in relation to the share price Growth Growth investing refers to the concept of buying company stock with potentially high growth rates in earnings and sales. In this case, growth investors often focus the company's worth as a current business venture. Most of them choose to maintain their hold on these stocks for long durations. Eventually, growth ceases to be a real determinant of a company’s value, especially when investors refrain from buying into companies which are not growing. Two individuals are responsible for popularizing the idea of growth investing in the 1940s and the 1950s, namely: T. Rowe Price, founder of the mutual fund firm having the same name, and Phil Fisher, writer of one of the most influential investment books published, Common Stocks and Uncommon Profits. Growth investors analyze the essential quality of the business and the growth rate before buy into it. Often, these investors get enthused with the arrival of new industries, new companies and new markets and buy company stocks they consider to have potentials of enhancing sales, earnings, and other vital business metrics at a certain minimum level yearly. Usually, growth is seen as a contrasting measuring stick in relation to value by many investors; however; the distinctions can blur at times. Income Even though many people buy common stocks, expecting the shares to grow in value, many others still buy stocks principally for the regular dividends they provide. These people are called income investors, who commonly neglect businesses offering shares with high prospects of capital growth to buy high-income, dividend-generating businesses in slow-growth industries. They prefer businesses that offer attractive dividends, such as real estate investment trusts (REITs) and utilities, in spite of the possibility of investing in firms going through dire problems and whose share prices have dipped substantially low that the dividends are subsequently so high. GARP GARP stands for “growth at a reasonable price” – and we know how much easier it is to use acronyms. To GARP investors, the best approach is to unify the value and growth approaches and incorporate a numerical twist. GARP practitioners prefer companies with sound growth potentials and high resent share prices which do not represent the fundamental value of the company, earning a "double play" as earnings grow and the price-to-earnings (P/E) ratios of those earnings also grow. GARPs most popular practitioner is Peter Lynch, the former Fidelity fund manager. GARP involves one of the most common methods of buying stocks when the P/E ratio goes below the rate at which share earning can grow later on. As a business’ share earnings grow, the P/E of the company will decrease if the share price stagnates. Since rapid-growth firms can ordinarily maintain high P/Es, the GARP investor buys shares which will be low-priced tomorrow if the growth happens as predicted. But, if growth fails to arrive, the GARP investor's expected gain can go up in smoke. Since GARP offers so many chances to only consider numbers rather than the business per se, many GARP methods, such as the almost pervasive PEG ratio and Jim O'Shaughnessy's ideas in What Works on Wall Street, are actually mixtures of fundamental analysis and quantitative analysis. Quality Nowadays, majority of investors apply a combined approach using growth, value and GARP strategies. They seek excellent companies offering "reasonable" prices. While they possess no compact guidelines for the type of mathematical connection between share price and business fundamentals, they do have a common philosophy of evaluating company valuations and their intrinsic worth. Generally, they utilize quantitative analysis, such as return on equity (ROE) and qualitative measurement of the management’s capability. Most of these investors call themselves value investors, even though they focus more on the worth of the company being a dynamic organism instead of a static asset that has value. Warren Buffett of Berkshire Hathaway is considered the most well-known defender and practitioner of this method. Having learned from Benjamin Graham of Columbia Business School, he subsequently partnered with, Charlie Munger, who helped shift Buffet’s focus on Phil Fisher's mantra of growth-and-quality. Misgivings about fundamental analysis Critics of the fundamental analysis point to two primary points against it. First, they think that the approach uses precisely the kind of information that all primary players in the stock trade know and use beforehand. This, they say, does not add any genuine edge. Why bother with the fundamentals if all you do is remain as knowledgeable or as unaware as the next guy beside you? Second, a bulk of the fundamental stats is “muddy” or “blurred”, any person can make one’s own interpretation. A few talented investors may have succeeded with this method; however, detractors believe the ordinary investor can save a lot of trouble by leaving fundamentals alone. Quantitative Analysis -- Using Numbers to Buy The method of analyzing only the numbers with practically no regard for the business involved is called pure quantitative analysis. So, if you talk, walk and eat numbers more often than not, you must be a quantitative analyst. Whereas fundamental analysis considers numerical analysis at times, the main thrust is the concerned business, looking closely at management's capability, the nature of the competition, potential markets for innovative products, and others. Such things, for quantitative analysts, belong in the realm of personal opinions and not in the field of solid, raw facts that generate objective analysis. Benjamin Graham, a major proponent of fundamental analysis, also helped popularized this method. At Graham-Newman partnership, he urged analysts to avoid talking to management in evaluating a business and told them to wholly focus on the numbers, thus eliminating biased management views. With the proliferation of computers, many "quants" (as proponents are called) have cranked up the numbers more efficiently and, thereby, buying and selling businesses purely on quantitative evaluation while totally disregarding the present valuation or tangible business involved. Quite a revolutionary step away from fundamental analysis, we must admit. Moreover, "quants" will commonly inject concepts, such as a stock's comparative strength, which is the level at which the stock has stood in relation to the market, in general. These investors are fully convinced that discovering the appropriate figures can assure positive results. The company, D.E. Shaw, utilizes complex mathematical algorithms to determine tiny price differentials in the markets. Your use of our Website
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If you become suspicious of any activity like fraud with regard to your account, kindly contact us as soon as possible. Welcome to client-focused Private Wealth Management. At Southbourne Group, we assist families and individuals safeguard their richly-deserved assets while striving to attain their financial objectives that keep them challenged. As a Southbourne Group customer, you will connect with a Relationship Manager who will personally come to know you and your objectives. Your Relationship Manager heads a group of experts that supervise each item of your wealth management approach – from implementing your tailor-fitted portfolio and furnishing you with meticulous reporting, to satisfying your queries and addressing your daily requirements. At the core of our portfolio development strategy is the Enhanced Balanced™ Portfolio. To know more about this time-proven investment structure, browse the portfolio’s incorporated funds shown as follows: Enhanced Balance Allocation An extensive allotment approach from Southbourne Group is founded on our Enhanced Balanced Allocation – an asset approach strategy created utilizing remarkable return/risk and correlation data, merged with our proprietary capital market projections. This proprietary allocation approach is intended to increase potential revenue while reducing risk, and offers the structure for our customers’ portfolios. As a customer, your portfolio will include: · A participative approach to setting up an asset allotment policy and rebalancing recommendations using the firm’s proprietary capital market projections. · Openness to a tailor-fit asset combination that will address individual investment goals and degree of risk tolerance. · Accessibility to several managers to obtain exposure to an assortment of investment approaches and principles. · Professional investment management groups that offer input on underlying asset types and suggested goal weightings. · An attractive fee schedule founded on degree of assets – not the quantity of asset types. Private Wealth Management At Southbourne Group, we assist families and individuals safeguard their richly-deserved assets while striving to attain their financial objectives that are important to them. As a Southbourne Group customer, you will connect with a Relationship Manager who will personally come to know you and your objectives. Your Relationship Manager heads a group of experts that supervise each item of your wealth management approach – from implementing your tailor-fitted portfolio and furnishing you with meticulous reporting, to satisfying your queries and addressing your daily requirements. At the core of our portfolio development strategy is the Enhanced Balanced Portfolio. To know more about this time-proven investment structure, browse the portfolio’s incorporated funds shown as follows: Investors Relations
Corporate Profiles Southbourne Group offers investment management assistance to institutional investors, private capital customers and investment intermediaries. Southbourne Group administers an assortment of investment methods, Global and Emerging Markets equities as well as income-based portfolios. Use to these methods is accessible through segregated accounts, co-mingled funds and mutual funds. Southbourne Group Personal Strategies are diversified portfolios that assist institutional customers leverage our sensible, value-based investment approach to aim for particular asset types and market areas.
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