Buffett, bir \u00e7ox dig\u0259r b\u00f6y\u00fck investorlar kimi, \u00e7ox ayr\u0131-se\u00e7kiliy\u0259 meyllidir – o, haz\u0131rda c\u0259lbedici g\u00f6r\u00fcn\u0259n bir s\u0259hm almaq ist\u0259yind\u0259n qa\u00e7\u0131r. H\u0259r hans\u0131 bir s\u0259hm, \u0259g\u0259r qiym\u0259t do\u011fru olarsa, potensial d\u0259y\u0259r ola bil\u0259r, lakin Baffet s\u0259hml\u0259ri aldatma\u011fa imkan vermir ki, s\u0131rf qiym\u0259tl\u0259ndirilm\u0259diyi \u00fc\u00e7\u00fcn s\u0259hml\u0259r als\u0131n.<\/p>\n
N\u0259hay\u0259t, d\u00fcnyan\u0131n Qualcomms v\u0259 Oracles da daxil olmaqla 10,000-\u0259 yax\u0131n AB\u015e siyah\u0131s\u0131nda olan s\u0259hml\u0259rin h\u0259r biri a\u015fa\u011f\u0131 qiym\u0259tl\u0259rl\u0259 ticar\u0259t edil\u0259c\u0259k, lakin 10,000 \u015firk\u0259tin yaln\u0131z ki\u00e7ik bir hiss\u0259si c\u0259lbedici uzunm\u00fcdd\u0259tli inki\u015faf perspektivl\u0259ri t\u0259klif edir. \u018fks\u0259riyy\u0259tind\u0259 z\u0259if \u0259saslar v\u0259 ya qeyri-sabit b\u00f6y\u00fcm\u0259 tarixi var v\u0259 onlardan qa\u00e7\u0131nmaq laz\u0131md\u0131r. Bir \u00e7oxlar\u0131 d\u00f6vri ticar\u0259t qazanc\u0131n\u0131 t\u0259min ed\u0259c\u0259k v\u0259 sonra investisiya icmas\u0131 \u00f6z s\u0259hml\u0259rini yoranda v\u0259 ba\u015fqa yerl\u0259rd\u0259 q\u0131sam\u00fcdd\u0259tli m\u0259nf\u0259\u0259t \u0259ld\u0259 etm\u0259y\u0259 \u00e7al\u0131\u015fd\u0131qda z\u0259ifl\u0259y\u0259c\u0259k. Zamanla s\u0259hm se\u00e7iminizi yax\u015f\u0131la\u015fd\u0131rd\u0131qca, n\u0259tic\u0259d\u0259 sat\u0131nalma namiz\u0259dl\u0259rinin q\u0131sa siyah\u0131s\u0131n\u0131 bir ne\u00e7\u0259 onlarla q\u0259d\u0259r azaldacaqs\u0131n\u0131z. Sonra, siz bu siyah\u0131ya daxil ola v\u0259 qiym\u0259tl\u0259ri \u0259lveri\u015fli s\u0259viyy\u0259l\u0259r\u0259 d\u00fc\u015fd\u00fckc\u0259 onlar\u0131 bir-bir sat\u0131n ala bil\u0259rsiniz.<\/p>\n
Baffet hesab edir ki, siz sad\u0259c\u0259 olaraq \u0259linizd\u0259 na\u011fd pulunuz oldu\u011funa g\u00f6r\u0259 s\u0259hml\u0259ri almaq h\u0259v\u0259sind\u0259n qa\u00e7\u0131nmal\u0131s\u0131n\u0131z. Daha tez-tez bir c\u00fczdan s\u0259hvl\u0259ri d\u0259v\u0259t edir. 1999-cu ilin \u0259vv\u0259lind\u0259 Baffet Berkshire Hathaway-in investisiya portfelind\u0259 35 milyard dollardan \u00e7ox pul v\u0259 istiqraz saxlay\u0131rd\u0131. O, onlarla ki\u00e7ik \u00f6lk\u0259nin \u00fcmumi illik hasilat\u0131na b\u0259rab\u0259r olan bu b\u00f6y\u00fck pul m\u0259bl\u0259\u011fini sat\u0131n almaq \u00fc\u00e7\u00fcn m\u00fcnasib qiym\u0259t\u0259 \u015firk\u0259tl\u0259r tapana q\u0259d\u0259r qeyri-m\u00fc\u0259yy\u0259n m\u00fcdd\u0259t\u0259 saxlamaqla kifay\u0259tl\u0259ndi. Bunun \u0259ksin\u0259 olaraq, \u0259ks\u0259r investorlar \u00f6z bo\u015f d\u0259yi\u015fiklikl\u0259rini dem\u0259k olar ki, d\u0259rhal i\u015f\u0259 salmaq \u00fc\u00e7\u00fcn psixoloji ehtiyac hiss edirl\u0259r. Sevimli s\u0259hml\u0259rinin azalmas\u0131n\u0131 s\u0259birl\u0259 g\u00f6zl\u0259m\u0259k \u0259v\u0259zin\u0259, onlar\u0131n fundamental x\u00fcsusiyy\u0259tl\u0259rini \u00f6yr\u0259nm\u0259k \u00fc\u00e7\u00fcn vaxt s\u0259rf etm\u0259d\u0259n a\u015fa\u011f\u0131 keyfiyy\u0259tli \u015firk\u0259tl\u0259rin s\u0259hml\u0259rini al\u0131rlar.<\/p>\n
Buffett n\u00f6vb\u0259ti bir ne\u00e7\u0259 il \u0259rzind\u0259 sahib olmaq ist\u0259diyi b\u00fct\u00fcn s\u0259hml\u0259ri m\u00fc\u0259yy\u0259nl\u0259\u015fdir\u0259r\u0259k bu t\u0259l\u0259d\u0259n qa\u00e7\u0131r v\u0259 onlar\u0131 bir-bir al\u0131r, ancaq onlar c\u0259lbedici qiym\u0259t\u0259 d\u00fc\u015f\u0259nd\u0259. S\u0259hml\u0259r d\u0259rhal ist\u0259diyi qiym\u0259t\u0259 d\u00fc\u015fm\u0259zs\u0259, he\u00e7 bir t\u0259dbir g\u00f6rm\u00fcr. O, bilir ki, ehtimallar gec-tez qiym\u0259tin a\u015fa\u011f\u0131 d\u00fc\u015fm\u0259sin\u0259 \u00fcst\u00fcnl\u00fck verir. M\u00fcv\u0259qq\u0259ti olaraq, o, qiym\u0259tl\u0259ri art\u0131q c\u0259lbedici s\u0259viyy\u0259l\u0259r\u0259 d\u00fc\u015fm\u00fc\u015f ola bil\u0259c\u0259k dig\u0259r arzu olunan \u015firk\u0259tl\u0259r\u0259 diqq\u0259tini y\u00f6n\u0259ld\u0259c\u0259k.<\/p>\n
T\u0259til etm\u0259 metodunu t\u0259tbiq etm\u0259y\u0259 k\u00f6m\u0259k etm\u0259k \u00fc\u00e7\u00fcn, perspektivli s\u0259hm qiym\u0259tl\u0259rinizin siyah\u0131s\u0131n\u0131 saxlamal\u0131s\u0131n\u0131z. Siyah\u0131ya bu g\u00fcn \u015firk\u0259t \u00fc\u00e7\u00fcn h\u0259v\u0259sl\u0259 \u00f6d\u0259y\u0259c\u0259yiniz maksimum qiym\u0259t daxil edilm\u0259lidir. Bu siyah\u0131n\u0131 \u0259lveri\u015fli yerd\u0259 yerl\u0259\u015fdirin v\u0259 vaxta\u015f\u0131r\u0131 yoxlay\u0131n.<\/p>\n
Anbar ehtiyatlar\u0131n\u0131n a\u015fkar \u00fcst\u00fcnl\u00fcy\u00fc ondan ibar\u0259tdir ki, o, sizi say\u0131q olma\u011fa m\u0259cbur edir. Sat\u0131n almadan \u0259vv\u0259l, \u015firk\u0259tin m\u0259qbul d\u0259y\u0259rini m\u00fc\u0259yy\u0259nl\u0259\u015fdirm\u0259lisiniz, bu da m\u00fc\u0259ssis\u0259ni \u00f6yr\u0259nm\u0259k dem\u0259kdir. Qiym\u0259tl\u0259ndirm\u0259y\u0259 bir az vaxt ay\u0131rmaq, vaxt\u0131ndan \u0259vv\u0259l sat\u0131n alma \u015fans\u0131n\u0131z\u0131 xeyli azaldacaq. \u015eirk\u0259tl\u0259ri bu \u015f\u0259kild\u0259 sat\u0131n almaq siz\u0259 h\u0259qiq\u0259t\u0259n ist\u0259diyiniz portfeli yaratma\u011fa imkan verir v\u0259 sad\u0259c\u0259 bo\u015f pulunuz oldu\u011funa g\u00f6r\u0259 arzuolunmaz s\u0259hml\u0259ri \u0259lav\u0259 etm\u0259yin qar\u015f\u0131s\u0131n\u0131 al\u0131r. Bundan \u0259lav\u0259, metod sizin s\u0259birsizliyinizd\u0259n istifad\u0259 edir v\u0259 – \u0259n \u0259sas\u0131 – y\u00fcks\u0259k performans t\u0259min edir, \u00e7\u00fcnki h\u0259r hans\u0131 bir \u015firk\u0259t \u00fc\u00e7\u00fcn art\u0131q \u00f6d\u0259ni\u015f alacaqs\u0131n\u0131z.<\/p>\n
H\u0259d\u0259f qiym\u0259tl\u0259rinizin m\u00fcnasib oldu\u011fundan \u0259min olmaq \u00fc\u00e7\u00fcn yoxlama siyah\u0131n\u0131z\u0131 vaxta\u015f\u0131r\u0131 yenil\u0259m\u0259lisiniz. \u018fg\u0259r \u015firk\u0259tin inki\u015faf perspektivl\u0259ri azalarsa, t\u0259yin etdiyiniz ilkin al\u0131\u015f qiym\u0259ti \u00e7ox y\u00fcks\u0259k ola bil\u0259r. \u018fksin\u0259, \u0259g\u0259r \u015firk\u0259tin \u0259saslar\u0131 yax\u015f\u0131la\u015farsa, s\u0259hm yenid\u0259n al\u0131\u015f s\u0259viyy\u0259niz\u0259 geri \u00e7\u0259kilm\u0259y\u0259 bil\u0259r. Bel\u0259 hallarda, h\u0259qiq\u0259t\u0259n daha y\u00fcks\u0259k s\u0259hm qiym\u0259tin\u0259 d\u0259y\u0259r olub olmad\u0131\u011f\u0131n\u0131 m\u00fc\u0259yy\u0259n etm\u0259k \u00fc\u00e7\u00fcn \u015firk\u0259ti yenid\u0259n qiym\u0259tl\u0259ndirm\u0259lisiniz.<\/p>\n
M\u0259s\u0259l\u0259 buras\u0131ndad\u0131r ki, s\u0259rmay\u0259 qoyma\u011fa ehtiyac\u0131n\u0131z olmad\u0131\u011f\u0131 zaman, investisiya etm\u0259yiniz laz\u0131m oldu\u011funu d\u00fc\u015f\u00fcnm\u0259yin. \u00d6z s\u0259hm se\u00e7iminiz\u0259 inam \u0259ld\u0259 etdikd\u0259n sonra, t\u0259bii olaraq getdikc\u0259 daha az alq\u0131-satq\u0131 q\u0259rarlar\u0131 q\u0259bul ed\u0259c\u0259ksiniz. M\u00fcv\u0259ff\u0259qiyy\u0259tli investor olmaq, sentyabr ay\u0131nda ikinci yeri tutan komanda \u00fcz\u0259rind\u0259 20 oyunluq \u00fcst\u00fcnl\u00fckl\u0259 eyni l\u00fcks\u00fc verir. Siz yarasan\u0131 \u00e7iyniniz\u0259 qoyub qeyri-m\u00fc\u0259yy\u0259n m\u00fcdd\u0259t\u0259 z\u0259rb\u0259l\u0259r endir\u0259 bil\u0259rsiniz, \u00e7\u00fcnki bu, m\u00f6vs\u00fcm\u00fcn n\u0259tic\u0259sini d\u0259yi\u015fm\u0259y\u0259c\u0259k.<\/p>\n
SEVD\u0130Y\u0130N\u0130Z S\u018fHM\u018fTL\u018fR\u0130N\u0130Z\u0130 \u0130NVENTARA ED\u0130N.<\/p>\n