Collection on KLSE.8K article
ROE是看理财能力，不是看道德品行
value_investor
Publish date: Wed, 06 Jun 2012, 07:12 AM
value_investor
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Collection of KLSE.8k articles from a famous chinese forum in Malaysia.
He was a very dedicated investment guru who contributed his knowledge to the public.
I plan to share those old articles from my local archive to this community and hope everyone can enjoy and benefit from it.
More References: a post from another i3 member - http://klse.i3investor.com/blogs/kianweiaritcles/11579.jsp
He was a very dedicated investment guru who contributed his knowledge to the public.
I plan to share those old articles from my local archive to this community and hope everyone can enjoy and benefit from it.
More References: a post from another i3 member - http://klse.i3investor.com/blogs/kianweiaritcles/11579.jsp
Published Date: 2007-04-05
我曾经说过：选股首重ROE。
通过ROE我们就可以知道管理层的“赚钱能力”。（说得恰当一点，应该是“理财能力”）
举个例子：
如果管理层举债买了一架专用飞机，公司的赚钱能力就会大受影响。
账目上NTA还是一样，但是EPS就会下降，因为专用飞机不能替公司赚钱，而且还会增加公司的利息负担。
从这例子ROE就会反映出管理层的理财能力 = 自私的心态。
所以选股之前我一定要看ROE。（我是说选股之前，不是选股之后）
那么选股之后呢？
如果已经成了小股东，也就是说我对管理层的理财能力投下了信任的一票，这时候EPS和PE就比ROE来的重要了。
还有，ROE是看管理层的赚钱能力和理财能力，不是看管理层的道德品行。
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
cheongcy
ROE is a measure of internal efficiency rather than just a financial management capability. No matter how good a finance department could control the money flow in or out, without a good team spirit - dynamic team - company can never perform.
2014-05-10 09:08