Every investor tends to ask what will be the time frame for long-term investment, Warren Buffett answered us all this question with “Forever”. Indeed, investing shall take up your entire life as the stocks that you have chosen shall be the best of the best, then why bother selling it?
The writer understands that sometimes the share price will not move up despite having some great quarter result, or even some historical-high result. That is why this article is titled “long-term investment requires patience”. Sometimes, these fantastic stocks are normally not realized by fellow investors probably due to their dull business segment and low trading volume. However, once everyone realized it and start buying it, it will skyrocket because the share price movement is supported by its bombastic results.
The question is how long can investors hold a good stock if the share price is not moving up at all? Warren Buffett and his team did not start with some good return from their portfolio at the earlier stage, but then their portfolio skyrocketed once other investors realize there are some gems lying around the market, and making Warren Buffett’s portfolio able to beat the average return of S&P 500. However, do keep in mind that it took almost three years for their portfolio to go up, and it was a laughing stock from everyone before that.
In Malaysia, there are two stocks that contain the similar characteristic where the result keeps improving but the share price is just not reacting much from it. Let’s take a look at FPGROUP, where four out of six from its quarter result between May 2018 and August 2019 are improving, but its share price just varying between RM0.20 and RM0.40, However, once investors realize its value, the share price shot up and reached the recent high of RM1.23. Besides, we can also take a look at MAGNI, where four out of five from its quarter result between June 2018 and July 2019 are improving, but its share price was fluctuating between RM1.45 and RM1.85. However, after they announced their bonus issue and investors started to look up this stock, their share price soared to the historical high at RM2.75.
In short, long-term investment on good stocks require some time and patience before realizing its value and worth. However, most of the investors nowadays focused too much on the daily price movement, and forgot about their good results. Investors should prioritize a company’s future and prospect rather than daily price movement, and that will eventually bring fortune to you.
每个投资者都会问到底长期投资需要多长时间，其实巴菲特给了大众一个答案 “永远“。巴菲特说的没错，如果你费尽心思选了几个精英中的精英，特别出众的股，那有为何要卖呢？
笔者明白有时股价不会因为好的业绩而上升，即使业绩历史新高，这也就是为什么这篇文章的标题是“长期投资需要耐心“。有时，这些很好的股因为他们比较沉闷的业务和很低的交易量而不被重视。但是，只有有人留意到它了，股价便会一路向北，因为股价的上升是被业绩支撑着的。
那么问题是投资者能够在股价不动的情况持有多久呢？巴菲特和他的团队并不是在开始就一帆风顺的，他们在一开始的回酬非常低。但却在几年后，当大众意识到有许多的好股还没被发掘而买入时，巴菲特的投资组合便集体上升，并且回酬高过S&P500的平均回酬。但是，投资者要记得在巴菲特的组合上升前，根本没有人看好他的组合，但却在三年后飙升。
在马股中，也有两家公司有着类似的特征，就是当业绩很好时股价却没太大的上升。我们先来看FPGROUP，它在2018年5月到2019年8月的六个业绩中，有四个是进步的，但其间的股价却只在20仙和40仙徘徊。直到最近一年投资者留意到它的业绩，股价才开始上升，并去到RM1.23历史新高的股价。另外，我们也可以看到MAGNI，在2018年6月到2019年7月的五个业绩中，有四个是进步的，但价钱却徘徊在RM1.45到RM1.85之间。直到过后宣布红股引起了投资者的注意后，才飙升到RM2.75历史新高的价位。
总结，长期投资好的公司时会需要一定的时间以及耐心。但是，投资者就是太过在意每天的股价走势，而忽略了一些公司好的业绩。投资者更应该看重公司的未来和前景，而这些数据亦会为你带来一定的财富。
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1https://klse.i3investor.com/blogs/InvestingKnowEverything/2020-11-29-story-h1537298018.jsp
