Small village is my friends, we will talk about investment in an investment group, he is also a . I know he has been in Shanghai for three years, but he was born with a number of geographical features, such as the luxury mink coat as a noble example of the recent cold snap hit this time he really realized His ideal, bought a coat that looks very feminine, and proudly told me that this is a year investing in stocks with dividends that he bought.
Look, this is our differences, first of all I do not like mink coat, because it cost too low and the flowers can buy ten, do not like the kind of large company dividends, if a company gains a good investment in the market, why he does not put money into the reproduction or distribution channels to make more money, but the money given to those that hold only giggle with bundles of cash shareholders do?
addition to this, the investor's money through the listed company if the dividend tax, you will be a huge loss. If in China, either as a way of shares or in cash way of dividends, to be paid to the tax authorities income tax of 10% m far as I know it and the world capital markets compared to more developed regions has been considered low. contrast, may buy back shares of listed companies for the way it seems more reasonable to carry out dividends that m is listed to take money out of the hands of the investors to buy back the stock, and then log off or as treasury shares will not only allow investors to get m cash and improve earnings per share, and this approach not to pay tax in China. But in China's capital market, small companies such operations, as this practice in the U.S. market in China bus seat to a pregnant woman is considered a virtue, as would be considered A records of the company. Even if the capital gains tax in the United States the impact of this tax is levied m shares are trading 20% m returns to investors for holding stocks and their dividends to the federal government to pay 40% of the personal income tax compared to the stock repurchase is still very cost-effective.
Obviously, either dividends or repurchases, the tax authorities in certain points from the returns to investors on a cup of soup, if investors did not receive temporary cash awards, which part of the money will certainly remain in the shares in, then repeat this inexplicable loss of tax is completely avoided.
value investors like dividends do?
However, looking always some people say dividends to investors and the company famous.
in 1936, Graham found that Northern Petroleum Pipelines 95 dollars per share on account of railway bonds, and the company's stock is only 65 dollars, this does not count the company itself has a value of the customer network and logistics assets. The Rockefeller Foundation-controlled companies to hide their own value, they began to simply ignore Graham views the small shareholders dividends. But Graham eventually to enter the Executive Board their views Graham eventually changed. Northern oil pipeline company sold the railroad bonds, issued to shareholders a cash dividend of $ 110. Graham,bailey UGG boots, in his famous book the stock market in a thoughtful and effective decisions is still overwhelming support for high dividends, but not less dividends. undervalued listed companies, and then forced them to spit out all the cash in, that's asymmetric information, the listed companies that save money tank does not seem so hard to find. but in the future, save money have been smart investment almost by Qiao Wan, so a student of Graham Buffett cash dividend on a slightly different attitude.
Buffett believes that funds should be giving priority to efficiency, which means that investment income is greater than personal investment income, or in the company The average investment return lower than the market began when that company in respect of dividends, the money to investors to make their own investment, so that capital more efficiently. But instead of this, investors should not support the dividend, but should withdraw all investments.
No comments:
Post a Comment