Great Company + Strong Fundamental = Easy Win (好公司+强的基本面=赢面高)
What can be considered as a great company? A great company supposed to first have a good management team, where they are aggressive on achieving their targets and milestones. Furthermore, the management’s words should be convincing and confident when queried by shareholders, and this can boost the shareholders’ confidence by a lot. Besides, their business model should be one of their kind, where they do something unique as compared to their peers, hence gaining their own advantages and allowing themselves more space to grow in the future.
On the other hand, what can be considered as strong fundamental? This question is rather subjective, but for the writer, a strong fundamental means having a very healthy cash flow. Its operating cash flow must remain positive almost every quarter, and being a net cash company will be a bonus. Besides, the company should also have high ROE and profit margin, which makes them unbeatable from every aspect. PE wise, it is not so important for the writer, since the writer is more into technology stocks, which has very high PE ratio. However, out of so many high PE technology stock, the writer will prefer one of the lowest out of the pack.
Now combining these two elements, what can we get from it? From the big drop in March, we can see that great companies rebound to their previous high, and some even manage to break new high. Furthermore, great companies continued to be profitable even facing such high uncertainties, and continue to expand their businesses. Besides, when there were any corrections happened in the market, these great companies managed to drop only a little, but rebound the quickest.
In short, investing in great companies with strong fundamental is the go-to, for investors to secure their capital gain and able to be ease at their investment life.
什么公司可以被归纳为好的公司呢？一家好公司必须要先有一个好的管理层，他们必须很激进地达到他们的目标以及里程碑。不但如此，管理层的话也必须在被股东问到时，表达出说服力以及信心，以增强股东们的信心。除此之外，他们的生意模式也必须比较特别，至少要比他们的同行来得特出，以让他们的生意更有竞争力和更多成长的空间。
另一方面，怎样的公司才可以被说是有强大的基本面呢？虽然这个问题比较有争议性，但是对笔者来说，强的基本面意味着有很健康的现金流。它的营运现金流必须长期都是流入的，并且如果此公司是净现金时，那便更好。除此之外，一家拥有高股东回酬率和净利润率的公司，从各方面来说都会比较难被打败。对笔者来说，本益比不是最重要的，毕竟笔者比较喜欢科技股，而科技股的本益比都偏高。当然，从这些高本益比的公司，笔者也比较会选择底本益比的几间公司。
那现在我们把两个元素都加起来，会得到什么呢？从三月的大跌中，我们可以看到好公司很快的就会到他们之前的高度，一些还不断地破新高。这些好的公司也在如此的情况下继续赚钱，亦或扩张他们的生意，除此之外，当市场有任何的回调时，它们跌的也会比较少，并且很快地便反弹回来。
总结，投资在这些有强基本面的好公司是最好的选择，因为投资者可以安心地进行他们的投资，但也同时赚取到股价的上升涨幅。
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