{"id":2132,"date":"2019-12-25T08:50:48","date_gmt":"2019-12-25T08:50:48","guid":{"rendered":"http:\/\/tvtinvest.com\/?p=2132"},"modified":"2020-01-03T14:42:02","modified_gmt":"2020-01-03T14:42:02","slug":"chung-ta-hoc-duoc-gi-o-nha-dau-tu-peter-lynch","status":"publish","type":"post","link":"http:\/\/tvtinvest.com\/?p=2132","title":{"rendered":"CH\u00daNG TA H\u1eccC \u0110\u01af\u1ee2C G\u00cc \u1ede NH\u00c0 \u0110\u1ea6U T\u01af PETER LYNCH?"},"content":{"rendered":"

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Peter Lynch<\/strong> sinh ng\u00e0y 19\/01\/1944 t\u1ea1i M\u1ef9 l\u00e0 Ph\u00f3 ch\u1ee7 t\u1ecbch t\u1eadp \u0111o\u00e0n Fidelity Management &Research Company \u2013 chuy\u00ean gia t\u01b0 v\u1ea5n h\u00e0ng \u0111\u1ea7u c\u1ee7a Fidelity Investments \u2013 v\u00e0 l\u00e0 th\u00e0nh vi\u00ean c\u1ee7a Ban Qu\u1ea3n tr\u1ecb c\u1ee7a Qu\u1ef9 Fidelity.\u00a0<\/span><\/p>\n

Trong th\u1eddi gian \u00f4ng l\u00e0m qu\u1ea3n l\u00fd c\u1ee7a qu\u1ef9 \u0110\u1ea7u t\u01b0 Fidelity Magellan t\u1eeb n\u0103m 1977 \u0111\u1ebfn n\u0103m 1990, \u00f4ng \u0111em l\u1ea1i l\u1ee3i su\u1ea5t trung b\u00ecnh g\u1ea7n 30% v\u00e0 gi\u00fap t\u00e0i s\u1ea3n c\u1ee7a qu\u1ef9 t\u1eeb 18 tri\u1ec7u USD t\u0103ng l\u00ean nhi\u1ec1u l\u1ea7n v\u00e0 ch\u1ed1t \u1edf con s\u1ed1 x\u1ea5p x\u1ec9 14 t\u1ec9 USD. Xa h\u01a1n n\u1eefa, Lynch \u0111\u00e3 \u0111\u00e1nh b\u1ea1i 99,5% s\u1ed1 l\u01b0\u1ee3ng c\u00e1c qu\u1ef9 t\u01b0\u01a1ng h\u1ed7 c\u00f2n l\u1ea1i trong 5 n\u0103m cu\u1ed1i s\u1ef1 nghi\u1ec7p. Hi\u1ec7n \u00f4ng \u0111\u00e3 ngh\u1ec9 h\u01b0u, v\u00e0 s\u1ed1ng v\u1edbi v\u1ee3 con, nh\u01b0ng v\u1eabn l\u00e0 c\u1ed1 v\u1ea5n cho qu\u1ef9 Fidelity.<\/span><\/p>\n

\u0110\u1ed3ng th\u1eddi Peter Lynch c\u00f2n n\u1ed5i ti\u1ebfng v\u1edbi vai tr\u00f2 l\u00e0 nh\u00e0 qu\u1ea3n l\u00fd t\u00e0i ch\u00ednh s\u1ed1 1 \u1edf M\u1ef9. Quan \u0111i\u1ec3m c\u1ee7a \u00f4ng l\u00e0: T\u1ea5t c\u1ea3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 trung b\u00ecnh \u0111\u1ec1u c\u00f3 th\u1ec3 tr\u1edf th\u00e0nh nh\u1eefng chuy\u00ean gia h\u00e0ng \u0111\u1ea7u trong l\u0129nh v\u1ef1c c\u1ee7a h\u1ecd v\u00e0 h\u1ecd c\u00f3 th\u1ec3 ch\u1ecdn \u0111\u01b0\u1ee3c nh\u1eefng c\u1ed5 phi\u1ebfu h\u1eddi nh\u1ea5t kh\u00f4ng k\u00e9m g\u00ec c\u00e1c chuy\u00ean gia \u0111\u1ea7u t\u01b0 tr\u00ean Ph\u1ed1 Wall ch\u1ec9 b\u1eb1ng vi\u1ec7c th\u1ef1c hi\u1ec7n m\u1ed9t cu\u1ed9c \u0111i\u1ec1u tra nh\u1ecf v\u00e0 tu\u00e2n th\u1ee7 \u0111\u00fang c\u00e1c nguy\u00ean t\u1eafc<\/em>.<\/span><\/p>\n

Peter Lynch kh\u00f4ng khuy\u00ean ch\u00fang ta mua c\u1ed5 phi\u1ebfu c\u1ee7a c\u1eeda h\u00e0ng m\u00e0 ta \u01b0a th\u00edch ch\u1ec9 b\u1edfi l\u00fd do ta th\u00edch mua s\u1eafm \u1edf c\u1eeda h\u00e0ng \u0111\u00f3. \u00d4ng c\u0169ng kh\u00f4ng khuy\u00ean nh\u00e0 \u0111\u1ea7u t\u01b0 h\u00e3y mua c\u1ed5 phi\u1ebfu c\u1ee7a m\u1ed9t nh\u00e0 s\u1ea3n xu\u1ea5t ch\u1ec9 v\u00ec h\u1ecd l\u00e0m ra nh\u1eefng s\u1ea3n ph\u1ea9m m\u00e0 ta \u01b0a th\u00edch, hay m\u1ed9t nh\u00e0 h\u00e0ng v\u00ec ta th\u00edch th\u1ee9c \u0103n \u0111\u00f3. Th\u00edch m\u1ed9t c\u1eeda h\u00e0ng, m\u1ed9t s\u1ea3n ph\u1ea9m hay m\u1ed9t nh\u00e0 h\u00e0ng l\u00e0 m\u1ed9t l\u00fd do t\u1ed1t \u0111\u1ec3 ch\u00fang ta quan t\u00e2m \u0111\u1ebfn m\u1ed9t c\u00f4ng ty v\u00e0 \u0111\u01b0a n\u00f3 v\u00e0o danh s\u00e1ch c\u1ea7n nghi\u00ean c\u1ee9u, nh\u01b0ng \u0111\u00f3 ch\u01b0a ph\u1ea3i l\u00e0 l\u00fd do \u0111\u1ee7 thuy\u1ebft ph\u1ee5c \u0111\u1ec3 mua c\u1ed5 phi\u1ebfu! \u0110\u1eebng bao gi\u1edd \u0111\u1ea7u t\u01b0 v\u00e0o b\u1ea5t k\u1ef3 m\u1ed9t c\u00f4ng ty n\u00e0o tr\u01b0\u1edbc khi b\u1ea1n ho\u00e0n th\u00e0nh t\u1ed1t “b\u00e0i t\u1eadp \u1edf nh\u00e0” v\u1ec1 c\u00e1c tri\u1ec3n v\u1ecdng thu nh\u1eadp c\u1ee7a c\u00f4ng ty, \u0111i\u1ec1u ki\u1ec7n t\u00e0i ch\u00ednh, v\u1ecb th\u1ebf c\u1ea1nh tranh, c\u00e1c k\u1ebf ho\u1ea1ch b\u00e0nh tr\u01b0\u1edbng…<\/em><\/span><\/p>\n

Tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 c\u1ee7a Peter Lynch \u0111\u00e3 \u0111em l\u1ea1i cho \u00f4ng l\u1ee3i nhu\u1eadn r\u1ea5t cao trong 23 n\u0103m \u0111i\u1ec1u h\u00e0nh qu\u1ef9, nh\u01b0ng h\u00f3a ra n\u00f3 r\u1ea5t \u0111\u01a1n gi\u1ea3n, d\u1ec5 \u00e1p d\u1ee5ng v\u00e0 \u0111\u01b0\u1ee3c li\u1ec7t k\u00ea theo b\u1ed1n quan \u0111i\u1ec3m sau: nghi\u00ean c\u1ee9u k\u1ef9 l\u01b0\u1ee1ng, hi\u1ec3u r\u00f5 t\u1ea7m quan tr\u1ecdng c\u1ee7a \u0111a d\u1ea1ng h\u00f3a, ki\u00ean nh\u1eabn v\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o th\u1ee9 m\u00e0 ch\u00fang ta bi\u1ebft. C\u00e1c ph\u01b0\u01a1ng ph\u00e1p m\u00e0 \u00f4ng \u0111\u01b0a ra \u0111\u01b0\u1ee3c \u0111\u00fac k\u1ebft nh\u01b0 sau<\/em>:<\/span><\/p>\n

1. Ch\u1ecdn l\u1ef1a k\u0129 l\u01b0\u1ee1ng c\u1ed5 phi\u1ebfu<\/em><\/strong><\/span><\/p>\n

Peter Lynch lu\u00f4n ngh\u0129 r\u1eb1ng \u0111i\u1ec1u quan tr\u1ecdng nh\u1ea5t khi tham gia th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i t\u00ecm \u0111\u01b0\u1ee3c c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty kinh doanh th\u00e0nh c\u00f4ng, hay ch\u00ednh x\u00e1c h\u01a1n l\u00e0 nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb.<\/strong> <\/em>Khi \u0111\u00e3 ch\u1ecdn \u0111\u01b0\u1ee3c nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y th\u00ec vi\u1ec7c l\u00ean xu\u1ed1ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng s\u1ebd kh\u00f4ng c\u00f2n l\u00e0 v\u1ea5n \u0111\u1ec1 \u0111\u00e1ng lo ng\u1ea1i.<\/span><\/p>\n

2. Thu th\u1eadp v\u00e0 \u0111\u00e1nh gi\u00e1 th\u00f4ng tin<\/em><\/strong><\/span><\/p>\n

\u00d4ng \u0111\u01b0a ra nh\u1eefng ch\u1ec9 d\u1eabn d\u1ec5 d\u00e0ng \u00e1p d\u1ee5ng \u0111\u1ec3 c\u00f3 th\u1ec3 l\u1ef1a ch\u1ecdn \u0111\u01b0\u1ee3c nh\u1eefng danh m\u1ee5c t\u1eeb vi\u1ec7c \u0111\u00e1nh gi\u00e1 c\u00e1c b\u00e1o c\u00e1o t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty v\u00e0 nh\u1eadn ra nh\u1eefng con s\u1ed1 th\u1ef1c s\u1ef1 c\u00f3 gi\u00e1 tr\u1ecb<\/em>. \u00d4ng gi\u1ea3i th\u00edch v\u00e0 \u0111\u01b0a ra nh\u1eefng ch\u1ec9 d\u1eabn \u0111\u1ec3 \u0111\u1ea7u t\u01b0 theo chu k\u1ef3, hay thay \u0111\u1ed5i ho\u00e0n to\u00e0n danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111\u1ec3 theo \u0111u\u1ed5i nh\u1eefng c\u00f4ng ty \u0111ang ph\u00e1t tri\u1ec3n nhanh<\/em><\/strong>.<\/span><\/p>\n

\u0110\u1ed3ng th\u1eddi \u00f4ng c\u0169ng cho r\u1eb1ng vi\u1ec7c t\u00ecm hi\u1ec3u \u0111\u1ec1 ra m\u1ed9t quy\u1ebft \u0111\u1ecbnh \u0111\u00fang \u0111\u1eafn th\u1eadt kh\u00f4ng d\u1ec5 d\u00e0ng \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f2n non tr\u1ebb, do v\u1eady ch\u00fang ta h\u00e3y nghi\u00ean c\u1ee9u c\u00e1c lo\u1ea1i b\u00e1o c\u00e1o c\u1ee7a c\u00f4ng ty nh\u01b0 b\u00e1o c\u00e1o th\u01b0\u1eddng ni\u00ean, b\u00e1o c\u00e1o qu\u00fd, th\u00eam v\u00e0o \u0111\u00f3 h\u00e3y \u0111\u1ecdc c\u1ea3 c\u00e1c b\u1ea3n b\u00e1o c\u00e1o t\u00e0i ch\u00ednh v\u00e0 thu nh\u1eadp c\u1ee7a c\u00f4ng ty m\u00e0 m\u00ecnh \u0111ang \u0111\u1ecbnh mua v\u00e0 c\u00e1c b\u00e1o c\u00e1o c\u1ee7a c\u00e1c \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh c\u1ee7a c\u00f4ng ty trong c\u00f9ng ng\u00e0nh \u0111\u00f3<\/em>, b\u1edfi n\u00f3 s\u1ebd gi\u00fap cho ch\u00fang ta trong vi\u1ec7c so s\u00e1nh k\u1ebft qu\u1ea3 kinh doanh, t\u00ecnh h\u00ecnh l\u1ee3i nhu\u1eadn c\u1ee7a c\u00e1c c\u00f4ng ty \u0111\u00f3 v\u1edbi nhau.<\/span><\/p>\n

3. Nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc m\u1ed7i quy\u1ebft \u0111\u1ecbnh n\u00ean x\u00e1c \u0111\u1ecbnh c\u00e1c m\u1ee5c ti\u00eau v\u00e0 l\u00e0m r\u00f5 nh\u1eefng quan \u0111i\u1ec3m c\u1ee7a m\u00ecnh<\/em><\/strong><\/span><\/p>\n

Lynch kh\u1eb3ng \u0111\u1ecbnh r\u1eb1ng, n\u1ebfu gi\u1eef cho b\u1ea3n th\u00e2n kh\u00f4ng b\u1ecb chi ph\u1ed1i b\u1edfi s\u1ef1 th\u1ea5t th\u01b0\u1eddng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 s\u1ef1 ham mu\u1ed1n t\u1ee9c th\u1eddi v\u1ec1 l\u1ee3i nhu\u1eadn, th\u00ec Nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd \u0111\u01b0\u1ee3c \u0111\u1ec1n \u0111\u00e1p b\u1edfi danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh<\/em><\/strong> (c\u1ee5 th\u1ec3 ch\u1ec9 sau kho\u1ea3ng t\u1eeb 5 \u0111\u1ebfn 15 n\u0103m).<\/span><\/p>\n

\u00d4ng c\u00f3 m\u1ed9t s\u1ed1 l\u1eddi khuy\u00ean cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n nh\u01b0 sau:<\/span><\/p>\n

– C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc khi ra quy\u1ebft \u0111\u1ecbnh mua c\u1ed5 phi\u1ebfu, h\u00e3y n\u00ean \u0111\u01b0a ra m\u1ed9t s\u1ed1 quy\u1ebft \u0111\u1ecbnh c\u01a1 b\u1ea3n v\u1ec1 th\u1ecb tr\u01b0\u1eddng, v\u1ec1 vi\u1ec7c ta c\u00f3 c\u1ea7n thi\u1ebft \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu n\u00e0y hay kh\u00f4ng, \u0111ang k\u00ec v\u1ecdng \u0111i\u1ec1u g\u00ec sau khi b\u00e1n nh\u1eefng c\u1ed5 phi\u1ebfu n\u00e0y, v\u00e0 v\u1ec1 c\u00e1ch ph\u1ea3n \u1ee9ng c\u1ee7a ch\u00ednh ch\u00fang ta tr\u01b0\u1edbc nh\u1eefng c\u00fa r\u1edbt gi\u00e1 nghi\u00eam tr\u1ecdng b\u1ea5t ng\u1edd, ngo\u00e0i d\u1ef1 ki\u1ebfn.<\/em><\/span><\/p>\n

– Tr\u01b0\u1edbc m\u1ed7i quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 n\u00ean x\u00e1c \u0111\u1ecbnh c\u00e1c m\u1ee5c ti\u00eau v\u00e0 l\u00e0m r\u00f5 nh\u1eefng quan \u0111i\u1ec3m c\u1ee7a m\u00ecnh, ch\u00fang ta c\u1ea7n \u0111\u00e1nh gi\u00e1 c\u1ea3 r\u1ee7i ro l\u1eabn l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00f3, h\u00e3y so s\u00e1nh vi\u1ec7c \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 l\u1ee3i hay kh\u00f4ng v\u00e0 c\u00e1c ch\u1ee9ng kho\u00e1n kh\u00e1c c\u00f3 l\u1ee3i h\u01a1n lo\u1ea1i ch\u1ee9ng kho\u00e1n m\u00ecnh \u0111\u00e3 ch\u1ecdn<\/em>? B\u1edfi n\u1ebfu trong th\u1ecb tr\u01b0\u1eddng kh\u1eafc nghi\u1ec7t, n\u1ebfu kh\u00f4ng quy\u1ebft \u0111o\u00e1n v\u00e0 thi\u1ebfu s\u1ef1 ch\u1eafc ch\u1eafn th\u00ec ch\u00ednh ch\u00fang ta s\u1ebd l\u00e0 n\u1ea1n nh\u00e2n ti\u1ec1m n\u0103ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, ng\u01b0\u1eddi s\u1ebd t\u1eeb b\u1ecf m\u1ecdi hy v\u1ecdng v\u00e0 l\u00fd l\u1ebd v\u00e0o th\u1eddi kh\u1eafc cam go nh\u1ea5t \u0111\u1ec3 ch\u1ea5p nh\u1eadn b\u00e1n l\u1ed7 c\u1ed5 phi\u1ebfu v\u00e0o th\u1eddi \u0111i\u1ec3m gi\u00e1 c\u1ee7a ch\u00fang th\u1eadm ch\u00ed ch\u1ea1m \u0111\u00e1y.<\/span><\/p>\n

– C\u1ea7n c\u00f3 s\u1ef1 chu\u1ea9n b\u1ecb k\u0129 c\u00e0ng cho m\u1ed7i phi v\u1ee5 \u0111\u1ea7u t\u01b0<\/em>, c\u0169ng nh\u01b0 nh\u1eefng ki\u1ebfn th\u1ee9c \u0111\u00fac k\u1ebft v\u00e0 s\u1ef1 nghi\u00ean c\u1ee9u m\u1ed9t c\u00e1ch nghi\u00eam t\u00fac s\u1ebd gi\u00fap ph\u00e2n bi\u1ec7t nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 mua c\u1ed5 phi\u1ebfu th\u00e0nh c\u00f4ng v\u1edbi nh\u1eefng ng\u01b0\u1eddi lu\u00f4n th\u1ea5t b\u1ea1i. <\/span><\/p>\n

– Cu\u1ed1i c\u00f9ng, c\u1ea3 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n l\u1eabn c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty \u0111\u1ec1u kh\u00f4ng th\u1ec3 quy\u1ebft \u0111\u1ecbnh s\u1ed1 ph\u1eadn c\u1ee7a m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0. Ng\u01b0\u1eddi duy nh\u1ea5t c\u00f3 th\u1ec3 l\u00e0m vi\u1ec7c \u0111\u00f3 ch\u00ednh l\u00e0 b\u1ea3n th\u00e2n nh\u00e0 \u0111\u1ea7u t\u01b0.<\/span><\/p>\n

Ng\u00e0y nay, khi nh\u1eafc \u0111\u1ebfn \u00f4ng, ng\u01b0\u1eddi ta \u0111\u1ec1u nh\u1edb \u0111\u1ebfn c\u00e2u n\u00f3i n\u1ed5i ti\u1ebfng “B\u1ea1n kh\u00f4ng c\u1ea7n ph\u1ea3i s\u1edf h\u1eefu tr\u00ed th\u00f4ng minh, ch\u1ec9 s\u1ed1 IQ cao ng\u1ea5t ng\u01b0\u1edfng \u0111\u1ec3 tr\u1edf th\u00e0nh nh\u00e0 \u0111\u1ea7u t\u01b0. \u0110i\u1ec1u quan tr\u1ecdng l\u00e0 b\u1ea1n ph\u1ea3i ki\u00ean tr\u00ec v\u00e0 tu\u00e2n th\u1ee7 c\u00e1c nguy\u00ean t\u1eafc m\u1ed9t c\u00e1ch tuy\u1ec7t \u0111\u1ed1i v\u00e0 ph\u1ea3i h\u1ecdc xong m\u00f4n to\u00e1n l\u1edbp n\u0103m<\/strong><\/em>“. Ch\u00ednh v\u00ec th\u1ebf, s\u1ebd ch\u1eb3ng c\u00f3 l\u00fd do g\u00ec \u0111\u1ec3 b\u1ea1n kh\u00f4ng b\u1eaft \u0111\u1ea7u t\u00ecm hi\u1ec3u v\u1ec1 \u0111\u1ea7u t\u01b0 v\u00e0 l\u00e0m ch\u1ee7 cu\u1ed9c ch\u01a1i ngay t\u1eeb b\u00e2y gi\u1edd.<\/span><\/p>\n

V\u00e0 sau \u0111\u00e2y l\u00e0 10 nguy\u00ean t\u1eafc v\u00e0ng trong \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n c\u1ee7a \u00f4ng:<\/span><\/p>\n

1. B\u1ea1n c\u1ea7n bi\u1ebft nh\u1eefng g\u00ec m\u00ecnh s\u1edf h\u1eefu v\u00e0 t\u1ea1i sao b\u1ea1n l\u1ea1i s\u1edf h\u1eefu ch\u00fang<\/strong>;<\/em><\/span><\/p>\n

2. \u0110\u1eebng bao gi\u1edd \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty m\u00e0 b\u1ea1n kh\u00f4ng hi\u1ec3u r\u00f5<\/strong> v\u1ec1 t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a n\u00f3<\/em>. Thua l\u1ed7 l\u1edbn nh\u1ea5t trong c\u1ed5 phi\u1ebfu th\u01b0\u1eddng \u0111\u1ebfn t\u1eeb c\u00e1c c\u00f4ng ty c\u00f3 b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n kh\u00f4ng t\u1ed1t. H\u00e3y lu\u00f4n nh\u00ecn v\u00e0o b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh xem li\u1ec7u m\u1ed9t c\u00f4ng ty c\u00f3 kh\u1ea3 n\u0103ng tr\u1ea3 n\u1ee3, tr\u01b0\u1edbc khi b\u1ea1n m\u1ea1o hi\u1ec3m \u0111\u1eb7t ti\u1ec1n c\u1ee7a m\u00ecnh v\u00e0o \u0111\u00f3.<\/span><\/p>\n

3. M\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u c\u00f3 kh\u1ea3 n\u0103ng ki\u1ebfm ti\u1ec1n t\u1eeb ch\u1ee9ng kho\u00e1n. Nh\u01b0ng kh\u00f4ng ph\u1ea3i ai c\u0169ng c\u00f3 s\u1ef1 gan l\u00ec. N\u1ebfu b\u1ea1n d\u1ec5 d\u00e0ng b\u00e1n c\u1ed5 phi\u1ebfu khi th\u1ecb tr\u01b0\u1eddng dao \u0111\u1ed9ng, th\u00ec t\u1ed1t nh\u1ea5t b\u1ea1n n\u00ean tr\u00e1nh xa ch\u1ee9ng kho\u00e1n v\u00e0 c\u1ea3 c\u00e1c qu\u1ef9 t\u01b0\u01a1ng h\u1ed7<\/em><\/strong>.<\/span><\/p>\n

4. L\u1ee3i th\u1ebf \u0111\u1ea7u t\u01b0 kh\u00f4ng ph\u1ea3i nh\u1eefng \u0111i\u1ec1u b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb c\u00e1c chuy\u00ean gia \u1edf ph\u1ed1 Wall m\u00e0 l\u00e0 nh\u1eefng g\u00ec b\u1ea1n \u0111ang c\u00f3<\/strong><\/em>. B\u1ea1n ho\u00e0n to\u00e0n c\u00f3 th\u1ec3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n so v\u1edbi c\u00e1c chuy\u00ean gia n\u1ebfu bi\u1ebft s\u1eed d\u1ee5ng l\u1ee3i th\u1ebf c\u1ee7a m\u00ecnh b\u1eb1ng c\u00e1ch \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u00f4ng ty hay ng\u00e0nh c\u00f4ng nghi\u1ec7p m\u00e0 b\u1ea1n hi\u1ec3u r\u00f5<\/em>.<\/span><\/p>\n

5. Th\u01b0\u1eddng th\u00ec kh\u00f4ng c\u00f3 m\u1ed1i li\u00ean h\u1ec7 n\u00e0o gi\u1eefa s\u1ef1 th\u00e0nh c\u00f4ng trong ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a c\u00f4ng ty v\u00e0 gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty \u0111\u00f3 trong th\u1eddi gian v\u00e0i th\u00e1ng ho\u1eb7c th\u1eadm ch\u00ed h\u00e0ng n\u0103m. Tuy nhi\u00ean, v\u1ec1 l\u00e2u d\u00e0i, ch\u1eafc ch\u1eafn 100% c\u00f3 m\u1ed1i t\u01b0\u01a1ng quan gi\u1eefa s\u1ef1 th\u00e0nh c\u00f4ng v\u1ec1 ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a c\u00f4ng ty v\u00e0 gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3<\/strong>. \u0110\u00e2y ch\u00ednh l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 ki\u1ebfm ti\u1ec1n<\/strong>. B\u1ea1n ph\u1ea3i ki\u00ean nh\u1eabn mua c\u1ed5 phi\u1ebfu c\u1ee7a nh\u1eefng c\u00f4ng ty l\u00e0m \u0103n t\u1ed1t v\u1edbi m\u1ee9c gi\u00e1 th\u1ea5p v\u00e0 n\u1eafm gi\u1eef l\u00e2u d\u00e0i.<\/em>\u00a0<\/span><\/p>\n

6. Nu\u00f4i c\u1ed5 phi\u1ebfu c\u0169ng gi\u1ed1ng nh\u01b0 nu\u00f4i con, kh\u00f4ng n\u00ean nu\u00f4i qu\u00e1 nhi\u1ec1u \u0111\u1ec3 kh\u00f4ng ch\u0103m s\u00f3c \u0111\u01b0\u1ee3c chu \u0111\u00e1o<\/em><\/strong>, c\u0169ng nh\u01b0 kh\u00f4ng n\u00ean \u00f4m \u0111\u1ed3m nhi\u1ec1u c\u1ed5 phi\u1ebfu trong tay. B\u1ea1n ch\u1ec9 th\u00e0nh c\u00f4ng th\u1ef1c s\u1ef1 khi t\u1eadp trung \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t s\u1ed1 \u00edt c\u1ed5 phi\u1ebfu m\u00e0 m\u00ecnh cho l\u00e0 t\u1ed1t nh\u1ea5t.<\/span><\/p>\n

7. N\u1ebfu b\u1ea1n ch\u01b0a th\u1ec3 t\u00ecm th\u1ea5y c\u1ed5 phi\u1ebfu n\u00e0o \u0111\u1ee7 h\u1ea5p d\u1eabn th\u00ec h\u00e3y g\u1eedi ti\u1ec1n v\u00e0o ng\u00e2n h\u00e0ng cho \u0111\u1ebfn khi b\u1ea1n ph\u00e1t hi\u1ec7n ra n\u00f3<\/strong><\/em>.<\/span><\/p>\n

8. \u0110\u1ed1i v\u1edbi c\u1ed5 phi\u1ebfu c\u1ee7a m\u1ed9t c\u00f4ng ty nh\u1ecf, t\u1ed1t nh\u1ea5t b\u1ea1n n\u00ean ch\u1edd \u0111\u1ee3i s\u1ef1 b\u1ee9t ph\u00e1 trong ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a c\u00f4ng ty tr\u01b0\u1edbc khi quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0.<\/strong><\/em><\/span><\/p>\n

9. Trong b\u1ea5t c\u1ee9 ng\u00e0nh ngh\u1ec1 n\u00e0o, nh\u00e0 \u0111\u1ea7u t\u1eeb nghi\u1ec7p d\u01b0 c\u00f3 \u00f3c quan s\u00e1t t\u1ed1t \u0111\u1ec1u c\u00f3 th\u1ec3 nh\u00ecn th\u1ea5y \u0111\u01b0\u1ee3c ti\u1ec1m n\u0103ng ph\u00e1t tri\u1ec3n c\u1ee7a nh\u1eefng c\u00f4ng ty l\u1edbn<\/em>, th\u1eddi gian \u0111\u1ea7u t\u01b0 m\u1ea5t nhi\u1ec1u hay \u00edt c\u0169ng ph\u1ee5 thu\u1ed9c v\u00e0o kh\u1ea3 n\u0103ng m\u1ed7i ng\u01b0\u1eddi.<\/span><\/p>\n

10. Kh\u00f4ng ai c\u00f3 th\u1ec3 d\u1ef1 \u0111o\u00e1n l\u00e3i su\u1ea5t, \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf v\u00e0 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111ang di\u1ec5n ra. B\u1ecf qua c\u00e1c d\u1ef1 \u0111o\u00e1n v\u00e0 t\u1eadp trung v\u00e0o t\u00ecnh h\u00ecnh ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00f4ng ty m\u00e0 b\u1ea1n \u0111\u1ea7u t\u01b0<\/em>.<\/span><\/p>\n

Nh\u1eefng nguy\u00ean t\u1eafc c\u00f3 v\u1ebb r\u1ea5t \u0111\u01a1n gi\u1ea3n, ai c\u0169ng hi\u1ec3u nh\u01b0ng th\u1ef1c hi\u1ec7n \u0111\u01b0\u1ee3c ch\u00fang th\u1ef1c s\u1ef1 kh\u00f4ng d\u1ec5 d\u00e0ng, h\u00e3y suy ngh\u0129 k\u1ef9 v\u00e0 \u00e1p d\u1ee5ng v\u00e0o th\u1ef1c t\u1ebf c\u00f4ng vi\u1ec7c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh. N\u1ebfu c\u1ea7n bi\u1ebft th\u00eam chi ti\u1ebft v\u1ec1 c\u00e1c ph\u01b0\u01a1ng ph\u00e1p t\u00ecm ki\u1ebfm c\u1ed5 phi\u1ebfu t\u1ed1t n\u00ean \u0111\u1ecdc quy\u1ec3n s\u00e1ch “Tr\u00ean \u0111\u1ec9nh ph\u1ed1 Wall<\/strong><\/em>” c\u1ee7a \u00f4ng, m\u1ed9t quy\u1ec3n s\u00e1ch r\u1ea5t h\u1eefu \u00edch cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n c\u00e1 nh\u00e2n.<\/span><\/p>\n

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

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

  Peter Lynch sinh ng\u00e0y 19\/01\/1944 t\u1ea1i M\u1ef9 l\u00e0 Ph\u00f3 ch\u1ee7 t\u1ecbch t\u1eadp \u0111o\u00e0n Fidelity Management &Research Company \u2013 chuy\u00ean gia t\u01b0 v\u1ea5n h\u00e0ng \u0111\u1ea7u c\u1ee7a Fidelity Investments \u2013 v\u00e0 l\u00e0 th\u00e0nh vi\u00ean c\u1ee7a Ban Qu\u1ea3n tr\u1ecb c\u1ee7a Qu\u1ef9 Fidelity.\u00a0 Trong th\u1eddi gian \u00f4ng l\u00e0m qu\u1ea3n l\u00fd c\u1ee7a qu\u1ef9 \u0110\u1ea7u t\u01b0 Fidelity Magellan t\u1eeb n\u0103m 1977 \u0111\u1ebfn n\u0103m 1990, \u00f4ng […]<\/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\/2132"}],"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=2132"}],"version-history":[{"count":7,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2132\/revisions"}],"predecessor-version":[{"id":2257,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2132\/revisions\/2257"}],"wp:attachment":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2132"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}