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*y df Ydpmg Hmv`ywhmj
Kx? We`dgd{ Wdmil
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8/2/2019 ABCs of Sound Investing
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@yy`mwhlbydfWe`Hmv`ywhmjLbqelk`w
. Edz Wd Wehmc Lkdpw Nl{c`w Q{hi`y
. Edz Wd Vlbp` L Kpyhm`yy
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8/2/2019 ABCs of Sound Investing
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v vdhg Khj Nhywlc`y
Xdp dmbx m``g wd gd l v`{x f`z wehmjy {hjewwd j`w g`i`mw {`wp{my
dm xdp{ ndm`x dv`{we` bdmj.w`{n" ly bdmj ly bl{j` dm` whn`
bdyy`y l{` lvdhg`g-
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8/2/2019 ABCs of Sound Investing
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lblmi` Ye``wy L{` Hnqd{wlmw
Wehy hy ze`{` we` lmlbxyhy df `v`{x kpyhm`yy*yhmw{hmyhi vlbp`
k`jhmy-
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8/2/2019 ABCs of Sound Investing
5/28
lye Hy Chmj
Hm npbwhqb` {`yq`iwy" hm dp{ dzm hmv`ywhmj lyz`bb ly hm w`{ny df
we` idnqlmh`y z` hmv`ywhm-
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8/2/2019 ABCs of Sound Investing
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dm*w Nlc` Fd{`ilywy
Gdm*w b`w zelw hy hnqd{wlmw lmg pmcmdzlkb` j`whm we` zlx df zelw
hy hnqd{wlmw lmg cmdzlkb`-
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8/2/2019 ABCs of Sound Investing
7/28
l{mhmjy
Kphbg l qd{wfdbhd df kpyhm`yy`y zedy` `l{mhmjylqq{`ihlw` dv`{
we` bdmj.w`{n-
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8/2/2019 ABCs of Sound Investing
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dipy
Dm xdp{ k`yw hg`ly lmg ip{{`mw hmv`ywn`mw
edbghmjy-
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8/2/2019 ABCs of Sound Investing
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J{`lw Kpyhm`yy`y
Kpx j{`lw kpyhm`yy`y lw {`lydmlkb` q{hi`y"
{lwe`{ welm {`lydmlkb` kpyhm`yy`y lw j{`lwq{hi`y-
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8/2/2019 ABCs of Sound Investing
10/28
Edbg
Ly hm" kpx & edbg-
+Dp{ flvd{hw` edbghmj q`{hdg hy fd{`v`{-+
. Zl{{`m Kpff`ww
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8/2/2019 ABCs of Sound Investing
11/28
Hmv`ywhmj Hy Ndyw Hmw`bbhj`mw Ze`m Hw Hy Ndyw Kpyhm`yybhc`
W{`lw xdp{ hmv`ywn`mwy fd{ zelw we`x {`lbbx l{`"nhmd{hwx ywlc`y
hm dq`{lwhmj kpyhm`yy`y{lwe`{ welm whic`{y dm l yi{``m d{
+ywdicy+-
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8/2/2019 ABCs of Sound Investing
12/28
pywhfh`g Q{hi`
Ze`m qp{ielyhmj l qd{whdm df l kpyhm`yylbzlxy lyc xdp{y`bf zelw
we` +opywhfh`gq{hi`+ fd{ welw `mwh{` kpyhm`yy zdpbg k`-
Hm dwe`{ zd{gy" edz npie zdpbg lcmdzb`gj`lkb`" {lwhdmlb lmg
hmfd{n`gkpyhm`yynlm qlx fd{ welw `mwh{` kpyhm`yy-
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8/2/2019 ABCs of Sound Investing
13/28
Cmdz zelw xdp cmdz & cmdz zelw xdp gdm*w
@v`m nd{` hnqd{wlmw welm cmdzhmj zelwflbby zhwehm xdp{ ih{ib` df
idnq`w`mi` hy
cmdzhmj lmg {`idjmhhmj zelw flbbydpwyhg` df hw-
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8/2/2019 ABCs of Sound Investing
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Bdmj W`{n Hmv`ywhmj
+Lm hmv`ywn`mw dq`{lwhdm hy dm` zehie pqdmwed{dpje lmlbxyhy"
q{dnhy`y ylf`wx df
q{hmihqlb lmg lm lg`|plw` {`wp{m-+ .K`molnhm J{leln
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8/2/2019 ABCs of Sound Investing
15/28
Nhmhnh` Idywy
K`ilpy` dm`*y {`lb {`wp{m dm hmv`ywn`mw hyzelw jd`y hmwd xdp{
qdic`w %lfw`{
nlmlj`n`mw f``y" k{dc`{lj` idywy" wlu`y& hmfblwhdm-(
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8/2/2019 ABCs of Sound Investing
16/28
M`w Hmidn`" mdw @KHW d{ @KHWGL
Cmdz we` w{p` q{dfhwlkhbhwx df we`kpyhm`yy`y xdp dzm" {lwe`{
welm
ypq`{fhihlb |plmwhwlwhv` fd{npbly-
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8/2/2019 ABCs of Sound Investing
17/28
ddff Klblmi` Ye``w Hw`ny
Flnhbhl{h` xdp{y`bf zhwe we` zd{bg dfyq`ihlb qp{qdy` `mwhwh`y"
v`ehib`y"
idbblw`{lbh`g g`kw dkbhjlwhdmy & i{`ghwg`flpbw yzlqy-
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8/2/2019 ABCs of Sound Investing
18/28
Q$@ [lwhdy
We` ywl{whmj qdhmw df lbb hmv`ywn`mw{`y`l{ie" k`ilpy` z` gdm*w
zlmw wd wlbc
`v`m q{`bhnhml{x lkdpw hmv`ywhmj k`fd{`cmdzhmj we` q{hi`-
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8/2/2019 ABCs of Sound Investing
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\plbhwx dv`{ \plmwhwx
We` |plbhwx df we` kpyhm`yy`y xdp dzm hy fl{nd{` hnqd{wlmw welm
we` |plmwhwx xdp
dzm-
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8/2/2019 ABCs of Sound Investing
20/28
[`wp{m dm @|phwx
Jddg kpyhm`yy`y zhbb idmyhyw`mwbx `l{mehje`{ {`wp{my dm we`h{
hmv`yw`g ilqhwlb
welm lv`{lj` d{ n`ghdi{` kpyhm`yy`y-
Y
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8/2/2019 ABCs of Sound Investing
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Ylb`
Opyw bhc` xdp zdpbg kpx nd{` lqqbhlmi`y"ibdwehmj lmg fddg hf
we`y` hw`ny z`{` wd
jd dm ylb`3 xdp yedpbg kpx nd{` df jddgkpyhm`yy`y ze`m we`x l{`
dff`{`g lwkl{jlhm q{hi`y wdd,
W
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8/2/2019 ABCs of Sound Investing
22/28
Wlmjhkb` Kddc Vlbp`
Ilbipblw`g ly? Wdwlb Wlmjhkb` Lyy`wy Wdwlb Yel{`yDpwywlmghmj
> Wlmjhkb` Kddc Vlbp`
Wxqhilbbx we` y`idmg qdhmw hm dm`*y {`y`l{ie" lyz` zlmw wd cmdz
zelw l idnqlmx hy vlbphmjhwy lyy`wy lw lmg idnql{` welw fhjp{` wd
dp{dzm `ywhnlwhdm df we`h{ hmw{hmyhi vlbp`-
P
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8/2/2019 ABCs of Sound Investing
23/28
Pmg`{vlbp`g
Hf hwy ie`lq" pmmdwhi`g" pm.bdv`g" m`jb`iw`glmg kd{hmj3 h zlmw
wd cmdz lkdpw hw" lmg
xdp yedpbg wdd,
Z
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8/2/2019 ABCs of Sound Investing
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Zlbb Yw-
Zlbb Yw{``w hy ehjebx g`q`mg`mw pqdmliwhvhwx lmg idnnhyyhdmy fd{
hwy q{dfhwy"
we`{`fd{` hw hy hme`{`mwbx lm`nhi wdhmv`ywd{*y hmw`{`ywy-
U
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8/2/2019 ABCs of Sound Investing
25/28
U[lw` df [`wp{m
G`w`{nhm` we` {lw` df {`wp{m xdp {`|ph{` dmxdp{ hmv`ywn`mwy wd
nlc` we` hme`{`mw
{hyc wd xdp{ q{hmihqlb zd{wezehb`-
X
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8/2/2019 ABCs of Sound Investing
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Xh`bg
Ly hm dwe`{ l{`ly df bhf`" ze`m hmv`ywhmjlqq`l{lmi`y ilm k`
g`i`hvhmj-
L bdz xh`bg gd`y mdw m`i`yyl{hbx n`lm lylf`{ hmv`ywn`mw lmg l
ehje`{ dm` gd`y
mdw idmmdw` nd{` {hyc-
_
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8/2/2019 ABCs of Sound Investing
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_`{d
Hf xdp{ qp{iely` ely l ehje`{ bhc`bheddg dfjdhmj wd `{d welm
`uq`{h`mihmj lmx
jlhmy" mdw dmbx l{` xdp mdw hmv`ywhmj kpwypie l qp{iely` gd`y
mdw `v`m |plbhfx lylm hmw`bbhj`mw yq`ipblwhdm-
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8/2/2019 ABCs of Sound Investing
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Mdz welw xdp pmg`{ywlmg we` LKI*y dfydpmg
hmv`ywhmj xdp ilm k` lm hmw`bbhj`mw hmv`ywd{wdd,
