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Learn to earn
48
Beating the Street
283
The rule of 72, Divide 72 by annual return over ayear in percentage and the answer
is the number of year it will take for
your money to multiply twice.
All else being equal, invest in the company with the fewest color
photographs in the annual report.
This is a useful year-end review for any stockpicker: go over your portfolio
company by company and try to find a reason that the next year will be better than
the last. If you can�t find such a reason, the next question is: why do I own this.
How did I know this was a low-cost operator? I could figure it out with
information I found on the income statement (see Table 14-1). By dividing the cost
of sales by net sales
Now when Company X buys Company Y, the amount it pays over and
above the value of the tangible assets, i.e., the goodwill premium, must be
deducted
from the earnings of Company X over several years.
This �penalizing� of earnings is a paper transaction, which results in a company�s
reported earnings being less than its actual earnings.
One useful indicator for when to buy auto stocks is used-car prices.When used
cardealers lower their prices, it means they�re having trouble selling cars, and a
lousy market for them is even lousier for the new-car dealers. But when used-car
prices are on the rise, it�s a sign of good times ahead for the automakers.Look for
pent up demand for car stocks and
follow the trend of annual sales that is to be completed.
#include<stdio.h>
int fib(int n)
{???????
int i;
f[0] = 0;
f[1] = 1;
{???????
and store it */
}???????
return f[n];
}???????
int main ()
{???????
int n = 9;
printf("%d", fib(n));
getchar();
return 0;