Perspektif Saham

Saya memiliki tabungan reksa dana di Prudential. Baru saja laporan tahunan 2018 muncul di kotak pos. Perasaan saya agak mixed membaca rangkuman tahunan ini, dan setelah merenungkannya, ada beberapa hal yang saya harap membantu pemahaman Anda di reksa dana. Reksa dana yang saya miliki bernama Rupiah Equity Fund Plus. Saya salah satu nasabah awal ketika fund ini diluncurkan bersamaan dengan paket asuransi. Tentu saja, kita bisa membeli reksa dana ini tanpa perlu dicampur asuransi. Reksa dana ini di bulan April berumur 5 tahun. Komponennya terdiri dari 95% saham. Biaya pengelolaannya tinggi dibanding produk lainnya di 2%. Sepanjang tahun 2018, return fund ini minus 7%. Itu faktanya, sekarang saya ingin share beberapa hal yang muncul di pikiran saya. Pertama-tama, saya ingin menilai seberapa baik fund ini dikelola. Perlu pembanding untuk ini. Berhubung hampir semua reksa dana yang komposisinya mayoritas saham bisa dibandingkan dengan IHSG, pertanyaan ini bisa dengan mudah dijawab...

I have found EVA (Economic Value Added) measurement to be superior in many ways compared to free cash flow when it comes to evaluating whether a stock of a company is attractive or not. For one thing, and it is a big issue, we just simply don’t know whether it’s a good or a bad thing when free cash flow increases this year. I have found that it is true, just as the theory says, improvement in EVA is good for stocks. That is because EVA is the only measure that more is better than less. That is because EVA has a special relationship with NPV. With its accompanying ratios proposed by Bennett Stewart, it is just that powerful for me as an investor looking for opportunities to invest. I am proud to say that I do not make spreadsheets and financial models just for formality or brain exercise. The insight gained from a spreadsheet focusing on EVA is real. But for all its prowess, I still have an issue that is troubling me. Namely, all of EVA examples that I have read is done, whether im...