威廉.歐尼爾研究1953年開始至1990年間,美國表現最好的500家上市公司,整理出其具的共同特性,發展出CANSLIM的投資哲學:
- C:當季盈餘成長率至少18~20%(Current quarterly earning per share must be up at least 18~20%)。
- A:過去五年盈餘顯著成長,複合成長率15~50%或以上(Annual earning per share should be meaningful growth over the last five years, the annual compounded growth rate of earnings in the superior firms should be from 15% to 50%, or even more per year)。
- N:新產品、新管理階層或股價創新高,忘記低價股,股價低通常有其理由存在(Buy companies with new products, new management, or significant new changes in their industry conditions, and most important, buy stocks as they initially make new highs in price. Forget cheap stocks—they are usually cheap for a good reason)。
- S:流通在外股數少或是在合理水準之內(Shares outstanding should be small or of reasonable number, not large capitalization, older companies)。
- L:市場的領導者或落後者,應挑選(Leader or Laggard:the 500 best performing stocks from 1953 to 1990 averaged a relative price strength of 87)。
- I:專業投資機構的認同(Institutional sponsorship:Buy stocks with at least a few institutional sponsors with better than average recent performance records)。
- M:市場走向(Market Direction)。
利用 IBD50 & CANSLIM 的方式我目前選擇四家企業:AFSI MANH WAL EPAM
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