{"id":2006,"date":"2019-12-17T02:53:07","date_gmt":"2019-12-17T02:53:07","guid":{"rendered":"http:\/\/tvtinvest.com\/?p=2006"},"modified":"2019-12-21T02:38:09","modified_gmt":"2019-12-21T02:38:09","slug":"ban-biet-duoc-bao-nhieu-ve-nha-dau-tu-philip-fisher","status":"publish","type":"post","link":"http:\/\/tvtinvest.com\/?p=2006","title":{"rendered":"B\u1ea0N BI\u1ebeT \u0110\u01af\u1ee2C BAO NHI\u00caU V\u1ec0 NH\u00c0 \u0110\u1ea6U T\u01af PHILIP FISHER ?"},"content":{"rendered":"

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Philip Fisher<\/strong><\/span> – \u00d4ng t\u1ed5 c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb – \u0111\u01b0a ra ti\u00eau ch\u00ed ch\u1ecdn c\u1ed5 phi\u1ebfu nh\u01b0 th\u1ebf n\u00e0o?<\/span><\/strong><\/p>\n

Philip Arthur Fisher (8\/9\/1907 \u2013 11\/03\/2004)<\/em><\/strong> l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n M\u1ef9 n\u1ed5i ti\u1ebfng. \u00d4ng c\u0169ng l\u00e0 cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng v\u00e0 l\u00e0 m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi c\u00f3 t\u1ea7m \u1ea3nh h\u01b0\u1edfng l\u1edbn nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/strong><\/em>. Tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng kh\u00f4ng ch\u1ec9 \u0111\u01b0\u1ee3c nhi\u1ec1u chuy\u00ean gia hi\u1ec7n \u0111\u1ea1i nghi\u00ean c\u1ee9u v\u00e0 \u00e1p d\u1ee5ng m\u00e0 c\u00f2n \u0111\u01b0\u1ee3c r\u1ea5t nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 coi \u0111\u00f3 l\u00e0 c\u1ea9m nang d\u1eabn \u0111\u01b0\u1eddng cho b\u1ea3n th\u00e2n.<\/span><\/p>\n

Nh\u1eefng tri\u1ebft l\u00fd n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c t\u1eadp h\u1ee3p trong cu\u1ed1n s\u00e1ch n\u1ed5i ti\u1ebfng c\u1ee7a \u00f4ng: C\u1ed5 phi\u1ebfu th\u01b0\u1eddng – L\u1ee3i nhu\u1eadn phi th\u01b0\u1eddng<\/strong><\/em> (Common Stocks and Uncommon Profits), m\u1ed9t trong nh\u1eefng gi\u00e1o tr\u00ecnh \u0111\u1ea7u t\u01b0 kinh \u0111i\u1ec3n d\u00e0nh cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec7n \u0111\u1ea1i.<\/span><\/p>\n

Tuy nhi\u00ean v\u1ec1 \u0111\u1eddi s\u1ed1ng c\u00e1 nh\u00e2n, t\u00e1c gi\u1ea3 c\u0169ng l\u00e0 ng\u01b0\u1eddi r\u1ea5t ri\u00eang t\u01b0, \u00edt ch\u1ecbu ph\u1ecfng v\u1ea5n v\u00e0 r\u1ea5t k\u00e9n ch\u1ecdn kh\u00e1ch h\u00e0ng c\u1ee7a m\u00ecnh. \u00d4ng kh\u00f4ng n\u1ed5i ti\u1ebfng \u0111\u1ed1i v\u1edbi c\u00f4ng ch\u00fang cho \u0111\u1ebfn khi xu\u1ea5t b\u1ea3n cu\u1ed1n s\u00e1ch \u0111\u1ea7u ti\u00ean c\u1ee7a m\u00ecnh n\u0103m 1958.<\/span><\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, \u00f4ng c\u00f2n \u0111\u01b0\u1ee3c coi l\u00e0 ng\u01b0\u1eddi ti\u00ean phong trong l\u0129nh v\u1ef1c \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng, \u0111\u1ed3ng s\u00e1ng l\u1eadp thuy\u1ebft \u0111\u1ea7u t\u01b0 hi\u1ec7n \u0111\u1ea1i v\u00e0 l\u00e0 m\u1ed9t trong nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 r\u1ea5t th\u00e0nh c\u00f4ng c\u1ee7a th\u1eddi \u0111\u1ea1i. T\u1edd Morning Star t\u1eebng g\u1ecdi \u00f4ng l\u00e0 “M\u1ed9t trong nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 v\u0129 \u0111\u1ea1i nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i”. B\u1ea3n th\u00e2n t\u1ec9 ph\u00fa l\u1eebng danh Warren Buffett c\u0169ng t\u1eebng th\u1eeba nh\u1eadn 15% quan \u0111i\u1ec3m \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng \u0111\u01b0\u1ee3c k\u1ebf th\u1eeba t\u1eeb Fisher.<\/span><\/p>\n

N\u0103m 1982, \u00f4ng b\u1eaft \u0111\u1ea7u s\u1ef1 nghi\u1ec7p chuy\u00ean gia ph\u00e2n t\u00edch ch\u1ee9ng kho\u00e1n c\u1ee7a m\u00ecnh. S\u1ef1 nghi\u1ec7p c\u1ee7a Philip Fisher b\u1eaft \u0111\u1ea7u khi \u00f4ng b\u1ecf tr\u01b0\u1eddng kinh doanh Stanford \u0111\u1ec3 tr\u1edf th\u00e0nh nh\u00e0 ph\u00e2n t\u00edch ch\u1ee9ng kho\u00e1n t\u1ea1i ng\u00e2n h\u00e0ng Anglo-London \u1edf San Francisco. N\u0103m 1931, \u00f4ng th\u00e0nh l\u1eadp c\u00f4ng ty qu\u1ea3n l\u00fd qu\u1ef9 Fisher & Company – m\u1ed9t c\u00f4ng ty t\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0. Fisher qu\u1ea3n l\u00fd c\u00e1c c\u00f4ng vi\u1ec7c c\u1ee7a c\u00f4ng ty cho \u0111\u1ebfn khi ngh\u1ec9 h\u01b0u v\u00e0o n\u0103m 1999 \u1edf tu\u1ed5i 91. Kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u1ed5i ti\u1ebfng nh\u1ea5t c\u1ee7a \u00f4ng l\u00e0 nh\u1eefng c\u1ed5 phi\u1ebfu c\u1ee7a Motorola m\u00e0 \u00f4ng mua t\u1eeb nh\u1eefng n\u0103m 1955 khi doanh nghi\u1ec7p th\u1eddi \u0111i\u1ec3m \u0111\u00f3 m\u1edbi ch\u1ec9 l\u00e0 nh\u00e0 s\u1ea3n xu\u1ea5t radio v\u00e0 n\u1eafm gi\u1eef n\u00f3 cho t\u1edbi t\u1eadn khi qua \u0111\u1eddi.<\/span><\/p>\n

Fisher \u0111\u00e3 l\u1eadp ra m\u1ed9t danh s\u00e1ch g\u1ed3m 15 \u0111i\u1ec1u c\u1ea7n t\u00ecm ki\u1ebfm \u0111\u1ed1i v\u1edbi 1 c\u1ed5 phi\u1ebfu th\u00f4ng th\u01b0\u1eddng v\u00e0 t\u1eadp trung v\u00e0o 2 lo\u1ea1i: ch\u1ea5t l\u01b0\u1ee3ng qu\u1ea3n l\u00fd v\u00e0 \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a doanh nghi\u1ec7p<\/em>.<\/span><\/p>\n

Ph\u1ea9m ch\u1ea5t qu\u1ea3n l\u00fd quan tr\u1ecdng c\u1ee7a c\u00f4ng ty c\u1ea7n c\u00f3 l\u00e0: qu\u1ea3n l\u00fd to\u00e0n di\u1ec7n, k\u1ebf to\u00e1n th\u1eadn tr\u1ecdng, tri\u1ec3n v\u1ecdng d\u00e0i h\u1ea1n t\u1ed1t, c\u1edfi m\u1edf \u0111\u1ec3 thay \u0111\u1ed5i, ki\u1ec3m so\u00e1t t\u00e0i ch\u00ednh xu\u1ea5t s\u1eafc, v\u00e0 c\u00e1c ch\u00ednh s\u00e1ch nh\u00e2n s\u1ef1 t\u1ed1t.<\/span><\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m kinh doanh quan tr\u1ecdng s\u1ebd bao g\u1ed3m: \u0111\u1ecbnh h\u01b0\u1edbng t\u0103ng tr\u01b0\u1edfng, l\u1ee3i nhu\u1eadn cao, l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n cao, cam k\u1ebft nghi\u00ean c\u1ee9u v\u00e0 ph\u00e1t tri\u1ec3n, h\u1ec7 th\u1ed1ng ph\u00e2n ph\u1ed1i b\u00e1n h\u00e0ng t\u1ed1t, v\u1ecb tr\u00ed d\u1eabn \u0111\u1ea7u ng\u00e0nh c\u00f4ng nghi\u1ec7p v\u00e0 s\u1edf h\u1eefu c\u00e1c s\u1ea3n ph\u1ea9m hay d\u1ecbch v\u1ee5 \u0111\u1ed9c quy\u1ec1n<\/em>.<\/span><\/p>\n

Fisher & Company do \u00f4ng s\u00e1ng l\u1eadp v\u00e0 \u0111\u1ee9ng \u0111\u1ea7u, nh\u1edd c\u00e1ch th\u1ee9c nghi\u00ean c\u1ee9u c\u1ea9n th\u1eadn trong \u0111\u1ea7u t\u01b0 n\u00e0y m\u00e0 c\u00e1c kh\u00e1ch h\u00e0ng ch\u1ecbu kh\u00f3 nghe nh\u1eefng l\u1eddi t\u01b0 v\u1ea5n t\u1eeb \u00f4ng t\u1eebng \u0111\u1ea1t t\u1ef7 l\u1ec7 sinh l\u1edbi g\u1ea5p hai l\u1ea7n ch\u1ec9 s\u1ed1 S&P 500, b\u1ea5t ch\u1ea5p c\u1ea3 nh\u1eefng giai \u0111o\u1ea1n c\u1ee7a kh\u00f3 kh\u0103n nh\u1ea5t c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9. V\u00e0 t\u1ea5t nhi\u00ean, nguy\u00ean t\u1eafc \u0111\u1ea7u t\u01b0 c\u1ee7a \u00f4ng ch\u1ec9 g\u00f3i g\u1ecdn trong \u0111i\u1ec1u c\u01a1 b\u1ea3n d\u01b0\u1edbi \u0111\u00e2y:<\/span><\/p>\n

1. S\u1eed d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p “l\u1eddi \u0111\u1ed3n \u0111\u1ea1i”<\/em><\/strong><\/p>\n

Fisher \u0111\u00e3 ch\u1ec9 ra cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1ch th\u1ee9c t\u00ecm ngu\u1ed3n th\u00f4ng tin x\u00e1c th\u1ef1c \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u1edbi r\u1ee7i ro th\u1ea5p nh\u1ea5t nh\u01b0ng thu l\u1ee3i nhu\u1eadn cao nh\u1ea5t. \u0110\u1ed1i v\u1edbi c\u00e1 nh\u00e2n \u00f4ng “\u0111\u1ec3 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng, th\u00f4ng tin lu\u00f4n c\u00f3 m\u1ed9t vai tr\u00f2 nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 ra quy\u1ebft \u0111\u1ecbnh c\u00f3 hay kh\u00f4ng n\u00ean b\u1ecf v\u1ed1n<\/em>“. Ngu\u1ed3n th\u00f4ng tin \u0111\u00f3 kh\u00f4ng n\u1eb1m tr\u00ean Ph\u1ed1 Wall n\u01a1i ch\u1ee9a \u0111\u1ef1ng v\u00f4 s\u1ed1 nh\u1eefng c\u01a1n \u0111\u1ed3ng b\u00f3ng, nh\u1eefng m\u1ed1t nh\u1ea5t th\u1eddi khi\u1ebfn ch\u00fang ta kh\u00f4ng th\u1ec3 x\u00e1c \u0111\u1ecbnh n\u1ed5i \u0111\u00e2u l\u00e0 gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a m\u1ed9t c\u1ed5 phi\u1ebfu.<\/span><\/p>\n

Kh\u00f4ng ch\u1ea1y theo \u0111\u00e1m \u0111\u00f4ng, thay v\u00e0o \u0111\u00f3 t\u00ecm ki\u1ebfm, nghe ng\u00f3ng ngu\u1ed3n th\u00f4ng tin t\u1eeb c\u00e1c \u0111\u1ed1i t\u00e1c, \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh, ng\u00e2n h\u00e0ng cho vay, c\u00e1c kh\u00e1ch h\u00e0ng\u2026 c\u1ee7a c\u00f4ng ty m\u1ee5c ti\u00eau, \u0111\u00f3 m\u1edbi ch\u00ednh l\u00e0 n\u01a1i \u0111\u1ec3 ch\u00fang ta ki\u1ebfm t\u00ecm nh\u1eefng ngu\u1ed3n th\u00f4ng tin c\u1ea7n thi\u1ebft gi\u00fap \u0111\u01b0a ra nh\u1eadn \u0111\u1ecbnh ch\u00ednh x\u00e1c<\/em>.<\/span><\/p>\n

2. \u0110\u1ea7u t\u01b0 theo b\u1ed9 ch\u1ec9 s\u1ed1 do \u00f4ng l\u1eadp ra d\u00e0nh ri\u00eang cho ch\u1ecdn l\u1ecdc c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng<\/em><\/strong><\/p>\n

B\u00ean c\u1ea1nh ph\u01b0\u01a1ng ph\u00e1p “L\u1eddi \u0111\u1ed3n \u0111\u1ea1i”, \u00f4ng c\u0169ng ch\u1ec9 ra r\u1eb1ng c\u00f3 hai c\u00e1ch \u0111\u1ec3 thu \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0 l\u1edbn nh\u1ea5t: “Th\u1ee9 nh\u1ea5t l\u00e0 mua c\u1ed5 phi\u1ebfu khi th\u1ecb tr\u01b0\u1eddng \u0111i xu\u1ed1ng v\u00e0 \u0111\u1ee3i l\u00fac th\u1ecb tr\u01b0\u1eddng h\u1ed3i ph\u1ee5c ho\u1eb7c \u00e1p d\u1ee5ng c\u00e1ch th\u1ee9 hai \u00edt r\u1ee7i ro h\u01a1n v\u00e0 l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng l\u1edbn h\u01a1n, \u0111\u00f3 l\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t s\u1ed1 c\u00f4ng ty \u0111ang t\u0103ng tr\u01b0\u1edfng li\u00ean t\u1ee5c v\u00e0 thu l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m<\/em>“. \u0110\u1ec3 t\u00ecm \u0111\u01b0\u1ee3c ch\u00ednh x\u00e1c nh\u1eefng c\u00f4ng ty nh\u01b0 v\u1eady, \u00f4ng c\u0169ng \u0111\u01b0a ra m\u1ed9t s\u1ed1 lu\u1eadn \u0111i\u1ec3m l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu v\u00e0 nh\u1eefng th\u00e0nh t\u1ed1 c\u1ea7n c\u00f3 cho m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 nh\u01b0 :<\/span><\/p>\n

1- B\u1ed9 m\u00e1y qu\u1ea3n l\u00fd c\u1ee7a c\u00f4ng ty<\/strong> c\u00f3 \u0111\u1ee7 quy\u1ebft t\u00e2m \u0111\u1ec3 ti\u1ebfp t\u1ee5c ph\u00e1t tri\u1ec3n c\u00e1c d\u00f2ng s\u1ea3n ph\u1ea9m hay nh\u1eefng quy tr\u00ecnh s\u1ea3n xu\u1ea5t, nh\u1eb1m gia t\u0103ng h\u01a1n n\u1eefa t\u1ed5ng doanh thu trong khi ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng c\u1ee7a c\u00e1c d\u00f2ng s\u1ea3n ph\u1ea9m h\u1ea5p d\u1eabn hi\u1ec7n t\u1ea1i<\/em> \u0111\u00e3 b\u1ecb khai th\u00e1c qu\u00e1 nhi\u1ec1u?<\/span><\/p>\n

2 – Li\u1ec7u nh\u1eefng s\u1ea3n ph\u1ea9m v\u00e0 d\u1ecbch v\u1ee5 c\u1ee7a c\u00f4ng ty<\/strong> c\u00f3 \u0111\u1ee7 ti\u1ec1m n\u0103ng \u0111\u1ec3 ph\u00e1t tri\u1ec3n trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u0111\u1ee7 l\u1edbn, \u0111\u1ea3m b\u1ea3o doanh thu s\u1ebd t\u0103ng trong m\u1ed9t v\u00e0i n\u0103m t\u1edbi<\/em> hay kh\u00f4ng?<\/span><\/p>\n

3 – Bi\u00ean l\u1ee3i nhu\u1eadn c\u1ee7a c\u00f4ng ty<\/strong> c\u00f3 \u0111\u1ee7 cao<\/em> kh\u00f4ng?<\/span><\/p>\n

4 – C\u00f4ng ty \u0111ang l\u00e0m g\u00ec \u0111\u1ec3 duy tr\u00ec ho\u1eb7c c\u1ea3i thi\u1ec7n bi\u00ean l\u1ee3i nhu\u1eadn<\/em>?<\/strong><\/span><\/p>\n

5 – C\u00f4ng ty c\u00f3 ki\u1ec3m so\u00e1t t\u1ed1t h\u1ec7 th\u1ed1ng k\u1ebf to\u00e1n<\/strong> v\u00e0 ph\u00e2n t\u00edch chi ph\u00ed<\/strong> kh\u00f4ng<\/em>?<\/span><\/p>\n

6 – C\u00f4ng ty c\u00f3 ch\u00fa \u00fd \u0111\u1ebfn nh\u1eefng kh\u00eda c\u1ea1nh kinh doanh t\u01b0\u01a1ng \u0111\u1ed1i kh\u00e1c bi\u1ec7t v\u1edbi t\u00ednh ch\u1ea5t c\u1ee7a ng\u00e0nh<\/strong><\/em> \u2013 nh\u1eefng kh\u00eda c\u1ea1nh kinh doanh mang l\u1ea1i cho nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eefng \u0111\u1ea7u m\u1ed1i quan tr\u1ecdng v\u1ec1 m\u1ee9c \u0111\u1ed9 n\u1ed5i tr\u1ed9i c\u1ee7a c\u00f4ng ty so v\u1edbi \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh kh\u00f4ng?<\/span><\/p>\n

7 – Trong t\u01b0\u01a1ng lai, n\u1ebfu c\u00f4ng ty c\u00f3 d\u1ef1 t\u00ednh t\u0103ng tr\u01b0\u1edfng d\u1ef1a tr\u00ean vi\u1ec7c t\u0103ng v\u1ed1n c\u1ed5 ph\u1ea7n b\u1eb1ng c\u00e1ch ph\u00e1t h\u00e0nh th\u00eam c\u1ed5 phi\u1ebfu, th\u00ec l\u1ee3i \u00edch c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i c\u00f3 gi\u1ea3m s\u00fat kh\u00f4ng<\/strong><\/em>?<\/span><\/p>\n

B\u1ed9 c\u00e1c quy t\u1eafc l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu n\u00e0y mang l\u1ea1i th\u00e0nh c\u00f4ng trong d\u00e0i h\u1ea1n cho Philip A. Fisher v\u00e0 l\u00e0 kim ch\u1ec9 nam cho nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 su\u1ed1t nhi\u1ec1u n\u0103m qua. C\u00f3 th\u1ec3 th\u1ea5y r\u1eb1ng Philip A. Fisher ch\u00ednh l\u00e0 cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng v\u00e0 l\u00e0 m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi c\u00f3 t\u1ea7m \u1ea3nh h\u01b0\u1edfng l\u1edbn nh\u1ea5t m\u1ecdi th\u1eddi \u0111\u1ea1i tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. M\u1ed9t trong nh\u1eefng h\u1ecdc tr\u00f2 xu\u1ea5t s\u1eafc \u0111\u00e3 k\u1ebf th\u1eeba th\u00e0nh c\u00f4ng di s\u1ea3n c\u1ee7a \u00f4ng n\u1ed5i ti\u1ebfng nh\u1ea5t ch\u00ednh l\u00e0 Warren Buffett .<\/span><\/p>\n

Quay tr\u1edf l\u1ea1i v\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, c\u00f3 l\u1ebd nh\u1eefng b\u00e0i h\u1ecdc c\u1ee7a \u00f4ng ch\u01b0a bao gi\u1edd c\u0169 \u0111i. Hi\u1ec7n nay, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi nhi\u1ec1u th\u00e1ch th\u1ee9c v\u00e0 r\u1ee7i ro, nh\u01b0ng \u0111\u1ed3ng th\u1eddi h\u1ecd c\u0169ng c\u00f3 nhi\u1ec1u c\u01a1 h\u1ed9i v\u00e0 ti\u1ec1m n\u0103ng \u0111\u1ec3 tr\u1edf n\u00ean gi\u00e0u c\u00f3, th\u00e0nh c\u00f4ng ngo\u00e0i s\u1ee9c t\u01b0\u1edfng t\u01b0\u1ee3ng.<\/span><\/p>\n

Tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 c\u1ee7a Fisher s\u1ebd ch\u1ec9 ra m\u1ed9t h\u01b0\u1edbng \u0111\u1ea7u t\u01b0 v\u1eefng ch\u1eafc nh\u1ea5t \u0111\u1ec3 \u0111i t\u1edbi th\u00e0nh c\u00f4ng, \u0111\u00f3 l\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng, c\u0169ng nh\u01b0 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u1eef v\u1eefng ni\u1ec1m tin v\u00e0 l\u1eadp tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n tuy non tr\u1ebb v\u00e0 \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng nh\u01b0ng r\u1ea5t ti\u1ec1m n\u0103ng nh\u01b0 Vi\u1ec7t<\/span> Nam.<\/span><\/p>\n

S\u01afU T\u1ea6M<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Philip Fisher – \u00d4ng t\u1ed5 c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb – \u0111\u01b0a ra ti\u00eau ch\u00ed ch\u1ecdn c\u1ed5 phi\u1ebfu nh\u01b0 th\u1ebf n\u00e0o? Philip Arthur Fisher (8\/9\/1907 \u2013 11\/03\/2004) l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n M\u1ef9 n\u1ed5i ti\u1ebfng. \u00d4ng c\u0169ng l\u00e0 cha \u0111\u1ebb c\u1ee7a h\u1ecdc thuy\u1ebft \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng v\u00e0 l\u00e0 m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi c\u00f3 t\u1ea7m \u1ea3nh h\u01b0\u1edfng […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[],"_links":{"self":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2006"}],"collection":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2006"}],"version-history":[{"count":5,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2006\/revisions"}],"predecessor-version":[{"id":2074,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2006\/revisions\/2074"}],"wp:attachment":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2006"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}