Investment Strategies of Hedge

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• Most of the recommendations expressed by brokers on shares go from buy to add to hold, and only a few analysts are willing to express a sell, reduce or underperform guidance on a stock. Analysts are constrained by corporate finance relationships or by the need to protect their business relationships with corporate management. This is why brokerage firms tend to be rather biased towards optimism. According to James Chanos......short selling is very difficult because every day CEOs and investor relators repeat that short sellers were wrong. The barrage directed at short sellers by all those who have a vested interest in shorted companies is an obstacle to theri work. (查看原文)

  [已注销] 2012-02-01 08:48:55

• ......a company's growth relies on the sustainability of its current Return On Equity (ROE), which in turn depends on the profitablity generated by reinvested liquidity. If the cash flow reinvested in the company has a return on investment (ROI) greater than its ROE, the company's profitability appears sustainable and growing; otherwise it means that a worsening of the company's profit structure is looming ahead. ......if a manager invests in a similar stock, he gets caught in the so-called value trap. A manager may run the risk of falling in love with investment stories surrounding the positions he has constructed, and may thus make major valuation mistakes. A manager's talent also rests in his humbleness and ability to recognize mistakes promptly. The strong investments carried out by We... (查看原文)

  [已注销] 2 回复 2赞 2012-02-01 08:54:21

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