Comment: This investment science and technology

Do not adore those high-tech companies, the cost of research and development that should note them has pushed the chunk profit that took investor.

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Cui Peng of reporter of article ｜ CBN

It is not difficult that an investor wants to appear successfully, need a few simple measure only enough. For instance, he should buy Intel with 10 thousand 1975; Sold an Intel stock to buy Microsoft 1987 next; And when 2004, this is when one trades a share, this investor should make a prompt decision at this moment sell a Microsoft to buy Gu Ge.

Without doubt, if handle a stock according to this one flow, this investor is affirmative already take big strides walked into Forbes register, and his asset should have 100 million yuan of above. Nevertheless such investor still is done not have in reality appear, seem to had appeared in the novel that invests in excessive of a lot of meaning and the rich guest that a few folk invest the home, Duan Li invests the time that if want to have patience and be in only,suits actually this, he also can be used earn the money that come to live the remainder of one's life well.

Although experienced the high-tech bubble 2000 to be liquidated greatly, but the growth level that company of outstanding science and technology can exceed whole to invest the market greatly really, whole market also is happy to be opposite science and technology kind the company gives out the city of other type company is filled with prep above rate, this appears even if investor searchs " grail " , but can god or Budda bless your as it happens to be caught so good lot? It's hard to say.

Want to invest high-tech stock, among them a very big difficult problem is, investor shares which kinds of science and technology is which kinds of useful science and technology after Qing Dynasty very hard do not rely on chart. Do not say to high-tech the domain is not the average investor th dog crates large breed at understands very much, it is those professional personages also often confused, more typical case is the first personal computer here, price of computer of type of this be born is 10600 dollars, those who produce it is company of Er of Huo Ni Wei, but this kind of computer that they are not clear about to they are produced at that time can bring Everyman what use, what this computer maintains to suit the United States very much aft dvd discovery best buy er everybody pa dog stairs and ramps sses the collision of brains storm is housewife use, give housewife for instance people items of an account of c most popular selling dvd discovery omputational income and expenses. Housewife still gives designedly when doing an appearance to design to the computer accordingly people increased a chopping board, housewife people still can accept process designing freely to groom before using this computer, there is on the advertisement picture of this computer is the housewife of an apron, she is stroking that machine gently, two marked characters are below: "I wish her hutch art follow to go up operation ability of Huoniweier. " of course this kind of computer also did not sell go out.

This kind of science and technology is forecasted mix almost forecast the stock market to go situation is euqally bad, even if Bill? Gates such Wei VIP, he is in 1995 " prospective road " sex of the look up before the prophecy in has quite, but will see half pairs also can achieve half fault only from whole. For instance he is opposite of media forecast this to go up to be afraid a bit too lead: "Read will make network conduct completely. Today, still have many people reading declare and read a magazine, although the most enthusiastic PC user also is met now and then read media of a few paper quality. As the improvement of all sorts of equipment bulk and portable sex, the thing can be changed somewhat, henceforth so a certain time of 5 years is nodded on, we can greet this kind of turn. " , fortunately Gates' prophecy did not come true, otherwise we practitioner of intermediary of this group of paper, be about probably to rely on to install the blind to be massaged to the person now get along. canon ef 15mm

Build the Ci prophecy about Huang Ye for instance again additionally, "Huang Ye's utilization rate will be lower and lower. In future in 5 years, final meeting becomes 0, or adjacent 0. " this prophecy has a problem apparently, according to what I knew my phone to had been trafficced 6 sell what the car is sure to cheat me to want the weapon of drawback with 3. The case that can show an issue most of course should belong to Microsoft the importance underestimate to the network, this also is later one of reasons of position of bibcock of Microsoft of cereal song menace.

Long-term investor judges the trend of science and technology without very good method, so they maintain cautious attitude basically also to the investment of enterprise of science and technology. These a lot of people in investing the home think high-tech enterprise has an outlook very much it seems that, but this kind of future builds the imagination in investor greatly; In addition city is filled with rate is too high, if anticipate accrual anticipates at the market infirmly a little, share price can steep fall, create market risk thereby too big.

God Buffett has bias with respect to element to high-tech enterprise. Actually, that prominent investor that Buffett becomes us probably to say in article begin place, 1975, mixed 1987 2004, he has enough ready money to enlist these high-tech companies, and begin to prepare to construct in Intel 1969, he returns as it happens to attend the meeting in institute of Er of case forest Nai, one of author of Intel Bob? Noyes still is Buffett's friend. The fund that the palm controls Buffett at that time already achieved above of 100 million dollar, but prepare to construct the one fine long hair that there is Buffett in the 2.6 million dollar of Intel.

Williams of author of Control Data most popular selling dog crates large of large computer company? Nuolisi also is mixed Buffett is kin, nuolisi is the little brother of aunty of Ba Fei spy, this aunty is in at that time whether should invest Nuolisi Buffett still has sought advice on this firm work, does Buffett think Nuolisi leaves the Remington at that time? Orchid heart company is mad, and is IBM essential also does Lei Ming of be not a patch on pause? Lan De, there had been company of these two computers at that time, "Who can still need company of a computer? " the opportunity that then he missed to be able to profiteer.

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Although be in the public opinion bomb before acting 1990 network bubble, the Baikexier of Buffett and awn case? Company of haing Sa dimension also rejects to please investor, accept high-tech firm, charlie? Awn case is in charge of the network company of those make a great show of being in earnest calls a dog excrement at that time, they reject to invest to dog excrement.

Besides to utterly ignorant of science and technology besides, buffett rejects to invest high-tech company to have the reason on the technology more, what the teacher Geleiemu that he thinks high-tech company often judges him very hard says " safe limit " . The advantage of high-tech company depends on the advantage on the protection of patent the best selling dog stairs and technology, since such, so the new technology place that the advantage of technology company is managed very quickly probably also by additional grandfather is replaced, for instance Microsoft fears the to oneself harm that innovation of Gu Ge technology brings, also be this reason, high-tech company is forced to want to throw charge of a good deal of research and development, the dominant position holds in order to make his OK in competition. 30% what the fee of research and development with annual Intel wants to take company gross profit, if do not hold this kind of high investment, be being competed probably in the near future the company exceeds. High-tech company besides software company, still have pharmacy company, for instance silent restrains a company, should c the most popular selling dog stairs ost every year of gross profit 29% go up with ongoing hair, want to cost the 49% is used at new drug overhead expenses of gross profit and cost of sales additionally, such new product should swallow a company annual 78% of gross profit, and the medicaments that research and development of dollar of the billion on expenditure manufactures can be in a certain number of patent effectiveness is lost after year, be modelled on the company is met dvd discovery channel rush up in a crowd, at the appointed time silent gram can lose a dominant position on bazaar.

And Buffett runs some Coke Cola companies all the time, although the dog stairs for bed y use a good deal of fee on the sale, do not have charge of research and development almost however. Baikexier? Another of company of haing Sa dimension heavy storehouse Moody company, selling overhead expenses is more 25% what take gross profit only, also do not have charge of research and development almost. And this kind of company also need not be anxious and fearful in that way like high-tech company, the rate that they lose competitive advantage status in the market is opposite also slower. According to Charles? Of Fan En " clock speed " in estimation, the product of high-tech company crosses speed per hour to spend, for instance semiconductor or the computer arrives 1 year for half an year, the newer rate of the company arrives 10 years for 2 years; Opposite snack company replaces rate is arrive 5 years 25 years; Most economical is the sort of " the capitalism of addiction letting a person " nicotian company, their newer rate is 20 to 30 years.

Will tell to Chinese company person, the circumstance differs somewhat again, because be in A the company that appear on the market, true high-tech company is few and far between, bogus high-tech company has many, if negotiable securities analyst of China recommends high-tech company to come to you,invest so, you or that caution had better.