{"id":30894,"date":"2023-12-07T09:59:21","date_gmt":"2023-12-07T09:59:21","guid":{"rendered":"https:\/\/masterskills.org\/blog\/kem-kha-quan-underperform-la-gi-nhung-dac-diem-can-luu-y.html"},"modified":"2023-12-23T07:23:43","modified_gmt":"2023-12-23T00:23:43","slug":"kem-kha-quan-underperform-la-gi-nhung-dac-diem-can-luu-y","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/kem-kha-quan-underperform-la-gi-nhung-dac-diem-can-luu-y.html","title":{"rendered":"K\u00e9m kh\u1ea3 quan (Underperform) l\u00e0 g\u00ec? Nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m c\u1ea7n l\u01b0u \u00fd"},"content":{"rendered":"
\n
\n
<\/div>
\n

H\u00ecnh minh h\u1ecda. Ngu\u1ed3n: Wall Street Journal<\/p>\n<\/figcaption><\/figure>\n

K\u00e9m kh\u1ea3 quan<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

K\u00e9m kh\u1ea3 quan <\/b>ho\u1eb7c d\u01b0\u1edbi chu\u1ea9n \u0111\u1ea7u t\u01b0<\/b>, ti\u1ebfng Anh g\u1ecdi l\u00e0 underperform<\/b>.<\/p>\n

N\u1ebfu m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 \u0111ang k\u00e9m kh\u1ea3 quan<\/span><\/b> ngh\u0129a l\u00e0 n\u00f3 \u0111ang kh\u00f4ng theo k\u1ecbp c\u00e1c ch\u1ee9ng kho\u00e1n kh\u00e1c.<\/p>\n

V\u00ed d\u1ee5, trong m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u0111ang t\u0103ng tr\u01b0\u1edfng, th\u00ec m\u1ed9t c\u1ed5 phi\u1ebfu s\u1ebd k\u00e9m kh\u1ea3 quan<\/span>\u00a0khi n\u00f3 \u0111ang kh\u00f4ng t\u0103ng tr\u01b0\u1edfng b\u1eb1ng ho\u1eb7c h\u01a1n so v\u1edbi m\u1ee9c t\u0103ng c\u1ee7a r\u1ed5 ch\u1ec9 s\u1ed5. (v\u00ed d\u1ee5 nh\u01b0 ch\u1ec9 s\u1ed1 S&P 500).<\/p>\n

C\u00f2n trong th\u1ecb tr\u01b0\u1eddng \u0111ang gi\u1ea3m, th\u00ec c\u1ed5 phi\u1ebfu gi\u1ea3m nhanh h\u01a1n so v\u1edbi th\u1ecb tr\u01b0\u1eddng chung s\u1ebd \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 c\u1ed5 phi\u1ebfu k\u00e9m kh\u1ea3 quan<\/span>.<\/p>\n

K\u00e9m kh\u1ea3 quan c\u0169ng l\u00e0 thu\u1eadt ng\u1eef \u0111\u01b0\u1ee3c nh\u1eefng nh\u00e0 ph\u00e2n t\u00edch s\u1eed d\u1ee5ng \u0111\u1ec3 ch\u1ec9 nh\u1eefng c\u1ed5 phi\u1ebfu b\u1ecb d\u1ef1 ki\u1ebfn s\u1ebd \u0111em l\u1ea1i hi\u1ec7u qu\u1ea3 k\u00e9m\u00a0h\u01a1n m\u1ed9t ch\u00fat so v\u1edbi th\u1ecb tr\u01b0\u1eddng chung.<\/p>\n

Hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 \u0111\u00e1nh gi\u00e1 k\u00e9m kh\u1ea3 quan<\/font><\/h3>\n

\u0110\u1ecbnh ngh\u0129a ch\u00ednh x\u00e1c v\u1ec1 k\u00e9m kh\u1ea3 quan<\/b>\u00a0c\u1ee7a c\u00e1c c\u00f4ng ty m\u00f4i gi\u1edbi s\u1ebd kh\u00e1c nhau. Nh\u01b0ng nh\u00ecn chung, \u0111\u00e1nh gi\u00e1 “K\u00e9m kh\u1ea3 quan” s\u1ebd x\u1ea5u h\u01a1n \u0111\u00e1nh gi\u00e1 “Trung l\u1eadp” nh\u01b0ng t\u1ed1t h\u01a1n so v\u1edbi \u0111\u00e1nh gi\u00e1 “B\u00e1n” hay “B\u00e1n m\u1ea1nh”.<\/p>\n

– Trung l\u1eadp <\/i>l\u00e0 nh\u1eadn \u0111\u1ecbnh c\u1ed5 phi\u1ebfu d\u1ef1 ki\u1ebfn s\u1ebd \u0111em l\u1ea1i k\u1ebft qu\u1ea3 b\u1eb1ng v\u1edbi th\u1ecb tr\u01b0\u1eddng chung.<\/p>\n

– K\u00e9m kh\u1ea3 quan<\/i> l\u00e0 nh\u1eadn \u0111\u1ecbnh c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 s\u1ebd k\u00e9m hi\u1ec7u qu\u1ea3 h\u01a1n m\u1ed9t ch\u00fat so v\u1edbi th\u1ecb tr\u01b0\u1eddng chung. N\u00f3 s\u1ebd r\u1edbt gi\u00e1 nhi\u1ec1u h\u01a1n trong th\u1ecb tr\u01b0\u1eddng \u0111ang gi\u1ea3m gi\u00e1 v\u00e0 t\u0103ng gi\u00e1 \u00edt h\u01a1n m\u1ee9c trung b\u00ecnh trong th\u1ecb tr\u01b0\u1eddng t\u0103ng gi\u00e1.<\/p>\n

– B\u00e1n<\/i> l\u00e0 nh\u1eadn \u0111\u1ecbnh c\u1ed5 phi\u1ebfu d\u1ef1 ki\u1ebfn s\u1ebd b\u1ecb m\u1ea5t gi\u00e1 tr\u1ecb.<\/p>\n

– B\u00e1n m\u1ea1nh<\/i> l\u00e0 nh\u1eadn \u0111\u1ecbnh th\u1ec3 hi\u1ec7n c\u00f4ng ty \u0111ang g\u1eb7p v\u1ea5n \u0111\u1ec1 l\u1edbn v\u00e0 c\u1ed5 phi\u1ebfu c\u1ee7a n\u00f3 c\u00f3 th\u1ec3 r\u1edbt gi\u00e1 m\u1ea1nh.<\/p>\n

Ch\u1ee9ng kho\u00e1n c\u00f3 th\u1ec3 b\u1ecb \u0111\u00e1nh gi\u00e1 k\u00e9m kh\u1ea3 quan n\u1ebfu n\u00f3 kh\u00f4ng \u0111\u1ea1t \u0111\u01b0\u1ee3c ho\u1eb7c v\u01b0\u1ee3t qua th\u01b0\u1edbc \u0111o m\u00e0 n\u00f3 \u0111ang \u0111\u01b0\u1ee3c so s\u00e1nh. S\u1ef1 so s\u00e1nh n\u00e0y c\u00f3 th\u1ec3 l\u00e0 gi\u1eefa n\u00f3 v\u1edbi th\u1ecb tr\u01b0\u1eddng chung, c\u00f4ng ty \u0111\u1ed1i th\u1ee7, ho\u1eb7c m\u1ed9t r\u1ed5 ch\u1ec9 s\u1ed1.\u00a0<\/p>\n

C\u00f3 nhi\u1ec1u v\u1ea5n \u0111\u1ec1 kh\u00e1c c\u0169ng c\u00f3 th\u1ec3 khi\u1ebfn cho c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty b\u1ecb \u0111\u00e1nh gi\u00e1 k\u00e9m kh\u1ea3 quan, v\u00ed d\u1ee5 nh\u01b0 t\u1ec9 l\u1ec7 n\u1ee3 c\u1ee7a c\u00f4ng ty, h\u1ec7 s\u1ed1 P\/E, ho\u1eb7c b\u1ecb gi\u1ea3m th\u1ecb ph\u1ea7n.<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 \u0111\u00e1nh gi\u00e1 k\u00e9m kh\u1ea3 quan<\/font><\/h3>\n

M\u1ed9t ng\u00e0nh c\u00f4ng nghi\u1ec7p c\u0169ng c\u00f3 th\u1ec3 b\u1ecb nh\u1eadn \u0111\u1ecbnh l\u00e0 k\u00e9m kh\u1ea3 quan<\/b>.<\/p>\n

V\u00ed d\u1ee5, ng\u00e0nh d\u1ecbch v\u1ee5 c\u00f4ng c\u1ed9ng c\u00f3 th\u1ec3 b\u1ecb nh\u1eadn \u0111\u1ecbnh l\u00e0 k\u00e9m kh\u1ea3 quan v\u00ec s\u1ef1 t\u0103ng tr\u01b0\u1edfng c\u1ee7a n\u1ec1n kinh t\u1ebf tuy th\u00fac \u0111\u1ea9y ng\u00e0nh c\u00f4ng nghi\u1ec7p n\u00e0y nh\u01b0ng c\u0169ng l\u00e0m t\u0103ng l\u1ea1m ph\u00e1t d\u1eabn \u0111\u1ebfn l\u00e3i su\u1ea5t cao h\u01a1n, v\u00e0 \u0111\u00e2y l\u1ea1i l\u00e0 m\u1ed9t \u0111i\u1ec1u x\u1ea5u cho ng\u00e0nh d\u1ecbch v\u1ee5 c\u00f4ng c\u1ed9ng.\u00a0<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n N\u1ebfu m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 \u0111ang k\u00e9m kh\u1ea3 quan (ti\u1ebfng Anh: Underperform) ngh\u0129a l\u00e0 n\u00f3 \u0111ang kh\u00f4ng theo k\u1ecbp c\u00e1c ch\u1ee9ng kho\u00e1n kh\u00e1c.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30894"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30894"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30894\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}