{"id":2263,"date":"2020-01-04T13:51:47","date_gmt":"2020-01-04T13:51:47","guid":{"rendered":"http:\/\/tvtinvest.com\/?p=2263"},"modified":"2020-09-17T01:09:24","modified_gmt":"2020-09-17T01:09:24","slug":"ban-da-biet-nhung-nguyen-tac-cua-dau-tu-gia-tri","status":"publish","type":"post","link":"http:\/\/tvtinvest.com\/?p=2263","title":{"rendered":"B\u1ea0N \u0110\u00c3 BI\u1ebeT NH\u1eeeNG NGUY\u00caN T\u1eaeC C\u1ee6A \u0110\u1ea6U T\u01af GI\u00c1 TR\u1eca?"},"content":{"rendered":"<p class=\"sapo\" style=\"text-align: justify;\"><em><span style=\"font-size: 20px; font-family: 'times new roman', times, serif;\">Trong khi ph\u1ea7n l\u1edbn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 s\u1eb5n s\u00e0ng \u0111\u1ec3 b\u00e1n ra c\u1ed5 phi\u1ebfu, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u00f3 l\u1ebd \u0111ang ch\u1edd \u0111\u1ee3i kh\u1ee7ng ho\u1ea3ng x\u1ea3y ra \u0111\u1ec3 c\u00f3 c\u01a1 h\u1ed9i mua v\u00e0o nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb t\u1ed1t \u1edf nh\u1eefng m\u1ee9c gi\u00e1 th\u1ea5p b\u1ea5t ng\u1edd.<\/span><\/em><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">Trong l\u1ecbch s\u1eed th\u1ecb tr\u01b0\u1eddng mua b\u00e1n c\u1ed5 phi\u1ebfu, tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb l\u00e0 m\u1ed9t trong nh\u1eefng ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ea7u t\u01b0 c\u00f3 h\u1ec7 th\u1ed1ng \u0111\u01b0\u1ee3c h\u00ecnh th\u00e0nh s\u1edbm nh\u1ea5t v\u00e0 c\u00f3 \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd nh\u1ea5t trong l\u1ecbch s\u1eed. \u0110\u01b0\u1ee3c gi\u1ea3ng d\u1ea1y l\u1ea7n \u0111\u1ea7u v\u00e0o nh\u1eefng n\u0103m 1930 b\u1edfi Benjamin Graham v\u00e0 David Dodd, hai gi\u00e1o s\u01b0 t\u00e0i ch\u00ednh c\u1ee7a \u0110\u1ea1i h\u1ecdc Columbia, ph\u01b0\u01a1ng ph\u00e1p n\u00e0y nhanh ch\u00f3ng \u0111\u01b0\u1ee3c Warren Buffett \u2013 v\u1ecb t\u1ef7 ph\u00fa gi\u00e0u th\u1ee9 ba tr\u00ean th\u1ebf gi\u1edbi v\u00e0 ch\u1ec9 t\u1eeb ho\u1ea1t \u0111\u1ed9ng mua b\u00e1n c\u1ed5 phi\u1ebfu \u2013 tuy\u1ec7t \u0111\u1ed1i tin t\u01b0\u1edfng.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">\u0110\u1ebfn nay \u0111\u00e3 c\u00f3 nhi\u1ec1u tri\u1ebft l\u00fd l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu m\u1edbi v\u1edbi nh\u1eefng c\u01a1 s\u1edf l\u00fd lu\u1eadn ch\u1eb7t ch\u1ebd ra \u0111\u1eddi v\u00e0 ph\u00e1t tri\u1ec3n, ch\u1eb3ng h\u1ea1n nh\u01b0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng hay \u0111\u1ea7u t\u01b0 theo ch\u1ec9 s\u1ed1. M\u1eb7c d\u00f9 v\u1eady, \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb v\u1eabn l\u00e0 m\u1ed9t trong nh\u1eefng ph\u01b0\u01a1ng ph\u00e1p c\u00f3 t\u00e1c \u0111\u1ed9ng l\u1edbn nh\u1ea5t t\u1edbi nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng, b\u1ea5t k\u1ec3 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n cho t\u1edbi qu\u1ef9 \u0111\u1ea7u t\u01b0 chuy\u00ean nghi\u1ec7p.<\/span><\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">5 nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n c\u1ee7a \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb<\/span><\/em><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><strong><i>Th\u1ee9 nh\u1ea5t<\/i><\/strong><b><i>: <\/i><\/b><strong>m\u1ed7i c\u1ed5 phi\u1ebfu \u0111\u1ec1u c\u00f3 m\u1ed9t gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i (intrinsic value)<\/strong>. Kh\u00e1i ni\u1ec7m gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i xu\u1ea5t ph\u00e1t t\u1eeb vi\u1ec7c m\u1ed7i c\u1ed5 phi\u1ebfu l\u00e0 \u0111\u1ea1i di\u1ec7n cho m\u1ed9t ph\u1ea7n quy\u1ec1n s\u1edf h\u1eefu trong c\u00f4ng ty. V\u1edbi v\u1ecb th\u1ebf c\u1ed5 \u0111\u00f4ng \u2013 ch\u1ee7 s\u1edf h\u1eefu \u2013 c\u1ee7a c\u00f4ng ty, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 quy\u1ec1n \u0111\u01b0\u1ee3c ph\u00e2n chia l\u1ee3i nhu\u1eadn v\u00e0 h\u01b0\u1edfng nh\u1eefng l\u1ee3i \u00edch kh\u00e1c m\u00e0 ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ee7a c\u00f4ng ty t\u1ea1o ra. Do \u0111\u00f3, nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c m\u1ed9t d\u00f2ng ti\u1ec1n (v\u00e0 c\u00e1c l\u1ee3i \u00edch kh\u00e1c) trong t\u01b0\u01a1ng lai. T\u1ed5ng gi\u00e1 tr\u1ecb c\u1ee7a d\u00f2ng ti\u1ec1n v\u00e0 l\u1ee3i \u00edch \u0111\u00f3 quy v\u1ec1 hi\u1ec7n t\u1ea1i ch\u00ednh l\u00e0 gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a c\u1ed5 phi\u1ebfu.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><em><strong>Th\u1ee9 hai: <\/strong><\/em><strong>lu\u00f4n lu\u00f4n mua c\u1ed5 phi\u1ebfu \u1edf m\u1ed9t m\u1ee9c bi\u00ean an to\u00e0n (margin of safety).<\/strong> Ai c\u0169ng \u01b0a th\u00edch vi\u1ec7c mua h\u00e0ng khi \u0111ang gi\u1ea3m gi\u00e1. Ho\u00e0n to\u00e0n t\u01b0\u01a1ng t\u1ef1 trong vi\u1ec7c mua b\u00e1n c\u1ed5 phi\u1ebfu, <strong><em>nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng th\u00e1i lu\u00f4n l\u00e0 ng\u01b0\u1eddi mu\u1ed1n mua \u0111\u01b0\u1ee3c c\u1ed5 phi\u1ebfu \u1edf m\u1ee9c gi\u00e1 th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi gi\u00e1 tr\u1ecb c\u1ee7a n\u00f3,<\/em><\/strong> th\u01b0\u1eddng ch\u1ec9 xu\u1ea5t hi\u1ec7n khi doanh nghi\u1ec7p l\u00e2m v\u00e0o t\u00ecnh tr\u1ea1ng kh\u1ee7ng ho\u1ea3ng. <em>M\u1ee9c ch\u00eanh l\u1ec7ch th\u1ea5p h\u01a1n \u0111\u00f3 ch\u00ednh l\u00e0 bi\u00ean an to\u00e0n, t\u1ee9c l\u00e0 m\u1ed9t kho\u1ea3ng c\u00e1ch an to\u00e0n \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a c\u1ed5 phi\u1ebfu b\u1ecb s\u1ee5t gi\u1ea3m so v\u1edbi gi\u00e1 tr\u1ecb t\u1ea1i th\u1eddi \u0111i\u1ec3m nh\u00e0 \u0111\u1ea7u t\u01b0 mua v\u00e0o<\/em>. T\u00f9y v\u00e0o m\u1ee9c \u0111\u1ed9 th\u1eadn tr\u1ecdng, m\u1ed7i nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ea5p nh\u1eadn m\u1ed9t m\u1ee9c bi\u00ean an to\u00e0n kh\u00e1c nhau. Benjamin Graham \u2013 cha \u0111\u1ebb c\u1ee7a l\u00fd thuy\u1ebft \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb &#8211; th\u1eadm ch\u00ed ch\u1ec9 mua c\u1ed5 phi\u1ebfu khi gi\u00e1 th\u1ecb tr\u01b0\u1eddng gi\u1ea3m c\u00f2n m\u1ed9t n\u1eeda so v\u1edbi gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><strong><i>Th\u1ee9 ba: <\/i>gi\u1ea3 thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 l\u00e0 kh\u00f4ng ch\u00ednh x\u00e1c<\/strong>. L\u00fd thuy\u1ebft n\u00e0y \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eadp l\u1ea7n \u0111\u1ea7u t\u1eeb nh\u1eefng n\u0103m 1900 b\u1edfi nh\u00e0 to\u00e1n h\u1ecdc ng\u01b0\u1eddi Ph\u00e1p\u00a0<a title=\"\" href=\"http:\/\/cafef.vn\/5-nguyen-tac-co-ban-cua-dau-tu-gia-tri-20180413154421897.chn#_ftn1\" name=\"_ftnref1\"><\/a>v\u00e0 \u0111\u1eb7c bi\u1ec7t tr\u1edf n\u00ean n\u1ed5i b\u1eadt v\u00e0o th\u1eadp ni\u00ean 60 sau khi nh\u00e0 kinh t\u1ebf h\u1ecdc n\u1ed5i ti\u1ebfng Paul Samuelson ho\u00e0n thi\u1ec7n c\u01a1 s\u1edf l\u00fd lu\u1eadn v\u1ec1 n\u00f3. L\u00fd thuy\u1ebft cho r\u1eb1ng gi\u00e1 c\u1ea3 th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u1ed5 phi\u1ebfu lu\u00f4n ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 nh\u1eefng l\u1ee3i \u00edch hi\u1ec7n t\u1ea1i v\u00e0 t\u01b0\u01a1ng lai m\u00e0 nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c. Nh\u1eefng ng\u01b0\u1eddi ph\u1ea3n \u0111\u1ed1i l\u00fd thuy\u1ebft n\u00e0y cho r\u1eb1ng, n\u1ebfu gi\u00e1 c\u1ea3 th\u1ef1c s\u1ef1 ph\u1ea3n \u00e1nh \u0111\u00fang gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i, th\u00ec t\u1ea1i sao l\u1ea1i xu\u1ea5t hi\u1ec7n nh\u1eefng phi\u00ean gi\u00e1 s\u1ee5t gi\u1ea3m m\u1ea1nh, th\u1eadm ch\u00ed c\u1ea3 th\u1ecb tr\u01b0\u1eddng m\u1ea5t t\u1edbi h\u01a1n 20% gi\u00e1 tr\u1ecb v\u1ed1n h\u00f3a (nh\u01b0 \u0111\u00e3 t\u1eebng x\u1ea3y ra trong n\u0103m 1987). <em>Li\u1ec7u gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a doanh nghi\u1ec7p c\u00f3 th\u1ec3 thay \u0111\u1ed5i nhanh ch\u00f3ng trong m\u1ed9t th\u1eddi gian ng\u1eafn nh\u01b0 v\u1eady hay kh\u00f4ng?<\/em> G\u1ea7n \u0111\u00e2y, vi\u1ec7c th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n th\u1ebf gi\u1edbi c\u0169ng nh\u01b0 Vi\u1ec7t Nam di\u1ec5n ra nh\u1eefng bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh trong phi\u00ean c\u0169ng l\u00e0 nh\u1eefng minh ch\u1ee9ng c\u1ee5 th\u1ec3 ch\u1ed1ng l\u1ea1i l\u00fd thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><strong><i>Th\u1ee9 t\u01b0: <\/i>kh\u00f4ng mua b\u00e1n theo \u0111\u00e1m \u0111\u00f4ng<\/strong>. Nh\u01b0 Warren Buffett t\u1eebng n\u00f3i &#8220;<em>h\u00e3y tham lam khi ng\u01b0\u1eddi kh\u00e1c s\u1ee3 h\u00e3i, v\u00e0 s\u1ee3 h\u00e3i khi ng\u01b0\u1eddi kh\u00e1c tham lam<\/em>&#8220;. <strong><em>Nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb ch\u1ec9 quan t\u00e2m \u0111\u1ebfn gi\u00e1 tr\u1ecb th\u1ef1c s\u1ef1 c\u1ee7a c\u1ed5 phi\u1ebfu. Thay v\u00ec ph\u00e1n \u0111o\u00e1n t\u00e2m l\u00fd \u0111\u00e1m \u0111\u00f4ng<\/em><\/strong>, <em>h\u1ecd c\u1ed1 g\u1eafng \u0111\u1ec3 hi\u1ec3u ho\u1ea1t \u0111\u1ed9ng kinh doanh, ban l\u00e3nh \u0111\u1ea1o v\u00e0 tri\u1ec3n v\u1ecdng c\u1ee7a doanh nghi\u1ec7p trong t\u01b0\u01a1ng lai.<\/em><\/span><\/p>\n<div id=\"admzone480458\" class=\"wp100 fl mgt10\" style=\"text-align: justify;\">\n<div id=\"zone-480458\">\n<div id=\"share-jtgyri8j\">\n<div id=\"placement-jzjm4flx\">\n<div id=\"banner-480458-jzjm4fmf\">\n<div id=\"slot-1-480458-jzjm4fmf\">\n<div id=\"ssppagebid_403\">\n<div id=\"nativezone_504485_201018\" class=\"banner0\" data-ssp=\"sspbid_201018\" data-admssprqid=\"569c53c1-4382-40ed-abed-4c6b0527469e-5e10990d\" data-width=\"580\" data-height=\"225\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><strong><i>Th\u1ee9 n\u0103m: <\/i>ki\u00ean nh\u1eabn v\u00e0 c\u1ea9n tr\u1ecdng<\/strong>. <strong><em>Nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb ch\u1ec9 h\u00e0nh \u0111\u1ed9ng khi c\u01a1 h\u1ed9i xu\u1ea5t hi\u1ec7n. H\u1ecd s\u1eb5n s\u00e0ng b\u1ecf qua h\u00e0ng lo\u1ea1t c\u01a1 h\u1ed9i v\u00e0 kh\u00f4ng c\u00f3 th\u00eam m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u00e0o trong su\u1ed1t th\u1eddi gian d\u00e0i, m\u1eb7c d\u00f9 th\u1ecb tr\u01b0\u1eddng di\u1ec5n bi\u1ebfn r\u1ea5t t\u1ed1t.<\/em><\/strong> Ch\u00ednh v\u00ec th\u1ebf, <em>nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb v\u0129 \u0111\u1ea1i nh\u01b0 Warren Buffett r\u1ea5t \u00edt khi gi\u1ea3i ng\u00e2n, nh\u01b0ng m\u1ed7i l\u1ea7n gi\u1ea3i ng\u00e2n th\u01b0\u1eddng l\u00e0 nh\u1eefng kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 gi\u00e1 tr\u1ecb l\u1edbn.<\/em><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">T\u1ea5t nhi\u00ean, <strong><em>vi\u1ec7c th\u1ef1c h\u00e0nh c\u00e1c tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb l\u00e0 kh\u00f4ng h\u1ec1 \u0111\u01a1n gi\u1ea3n.<\/em><\/strong> Ngo\u00e0i hi\u1ec3u bi\u1ebft to\u00e0n di\u1ec7n v\u1ec1 \u0111\u00e1nh gi\u00e1 doanh nghi\u1ec7p, nh\u00e0 \u0111\u1ea7u t\u01b0 <strong><em>c\u1ea7n c\u00f3 b\u1ea3n l\u0129nh v\u1eefng v\u00e0ng \u0111\u1ec3 gi\u1eef t\u00e2m tr\u00ed m\u00ecnh \u0111\u1ed9c l\u1eadp tr\u01b0\u1edbc h\u00e0nh \u0111\u1ed9ng c\u1ee7a \u0111\u00e1m \u0111\u00f4ng.<\/em><\/strong> Nh\u00e0 \u0111\u1ea7u t\u01b0 <em>c\u1ea7n t\u1ec9nh t\u00e1o khi xem x\u00e9t di\u1ec5n bi\u1ebfn c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 v\u1eeba n\u1eafm b\u1eaft \u0111\u01b0\u1ee3c t\u00e2m l\u00fd th\u1ea5t th\u01b0\u1eddng c\u1ee7a Ng\u00e0i Th\u1ecb Tr\u01b0\u1eddng, v\u1eeba ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c l\u00fd tr\u00ed c\u1ee7a b\u1ea3n th\u00e2n<\/em>.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">Hi\u1ec7n nay, h\u1ea7u h\u1ebft c\u00e1c th\u1ecb tr\u01b0\u1eddng tr\u00ean th\u1ebf gi\u1edbi \u0111\u1ec1u \u0111ang giao d\u1ecbch \u1edf m\u1ee9c cao k\u1ef7 l\u1ee5c trong l\u1ecbch s\u1eed. Nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ee9ng ki\u1ebfn nh\u1eefng phi\u00ean giao d\u1ecbch m\u00e0 gi\u00e1 c\u1ed5 phi\u1ebfu c\u00f3 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng l\u1edbn ngay trong phi\u00ean. Facebook, c\u00f4ng ty c\u00f3 v\u1ed1n h\u00f3a g\u1ea7n 500 t\u1ef7 USD \u0111\u00e3 m\u1ea5t g\u1ea7n 10% gi\u00e1 tr\u1ecb ch\u1ec9 trong m\u1ed9t phi\u00ean (19\/3) ngay sau khi r\u00f2 r\u1ec9 th\u00f4ng tin v\u1ec1 v\u1ee5 b\u00ea b\u1ed1i d\u1eef li\u1ec7u v\u1edbi Cambridge Analytica \u2013 m\u1ed9t c\u00f4ng ty nghi\u00ean c\u1ee9u t\u1ea1i Anh. Nhi\u1ec1u c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn kh\u00e1c tr\u00ean th\u1ebf gi\u1edbi c\u0169ng tr\u1ea3i qua c\u00e1c dao \u0111\u1ed9ng t\u01b0\u01a1ng t\u1ef1 trong th\u1eddi gian n\u00e0y. R\u00f5 r\u00e0ng, gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i c\u1ee7a doanh nghi\u1ec7p kh\u00f4ng th\u1ec3 thay \u0111\u1ed5i ch\u00f3ng m\u1eb7t trong m\u1ed9t th\u1eddi gian ng\u1eafn nh\u01b0 v\u1eady.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">Lo ng\u1ea1i v\u1ec1 chi\u1ebfn tranh th\u01b0\u01a1ng m\u1ea1i M\u1ef9 &#8211; Trung v\u00e0 chi\u1ebfn tranh qu\u00e2n s\u1ef1 M\u1ef9 &#8211; Syria s\u1ebd \u0111\u1ea9y m\u1ee9c bi\u1ebfn \u0111\u1ed9ng l\u00ean cao h\u01a1n n\u1eefa. Th\u1eadm ch\u00ed, \u0111\u00e2y c\u00f3 th\u1ec3 l\u00e0 gi\u1ecdt n\u01b0\u1edbc tr\u00e0n ly khi\u1ebfn c\u00e1c th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ea3o chi\u1ec1u, sau khi \u0111\u00e3 t\u0103ng trong su\u1ed1t c\u1ea3 th\u1eadp k\u1ef7.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\"><strong><em>Trong khi ph\u1ea7n l\u1edbn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 s\u1eb5n s\u00e0ng \u0111\u1ec3 b\u00e1n ra c\u1ed5 phi\u1ebfu, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u00f3 l\u1ebd \u0111ang ch\u1edd \u0111\u1ee3i kh\u1ee7ng ho\u1ea3ng x\u1ea3y ra \u0111\u1ec3 c\u00f3 c\u01a1 h\u1ed9i mua v\u00e0o nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb t\u1ed1t \u1edf nh\u1eefng m\u1ee9c gi\u00e1 th\u1ea5p b\u1ea5t ng\u1edd<\/em><\/strong>.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 20px;\">Warren Buffett t\u1eebng n\u00f3i &#8220;Khi chi\u1ebfn tranh x\u1ea3y ra, h\u00e3y mua c\u1ed5 phi\u1ebfu&#8221;!<\/span><\/p>\n<p style=\"text-align: right;\">S\u01afU T\u1ea6M<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trong khi ph\u1ea7n l\u1edbn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 s\u1eb5n s\u00e0ng \u0111\u1ec3 b\u00e1n ra c\u1ed5 phi\u1ebfu, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb c\u00f3 l\u1ebd \u0111ang ch\u1edd \u0111\u1ee3i kh\u1ee7ng ho\u1ea3ng x\u1ea3y ra \u0111\u1ec3 c\u00f3 c\u01a1 h\u1ed9i mua v\u00e0o nh\u1eefng c\u1ed5 phi\u1ebfu c\u00f3 gi\u00e1 tr\u1ecb t\u1ed1t \u1edf nh\u1eefng m\u1ee9c gi\u00e1 th\u1ea5p b\u1ea5t ng\u1edd. Trong l\u1ecbch s\u1eed th\u1ecb tr\u01b0\u1eddng mua b\u00e1n c\u1ed5 phi\u1ebfu, [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[21,31],"tags":[],"_links":{"self":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2263"}],"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=2263"}],"version-history":[{"count":5,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2263\/revisions"}],"predecessor-version":[{"id":3123,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2263\/revisions\/3123"}],"wp:attachment":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2263"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}