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[風流Club_天地創造] 제4강 안정적인 우량주 중심으로 매매습관을 가져라 — Transcript

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0:00Now, it is a pleasure to meet you.
0:01Making the world right and warm, yes, I
0:03am Director Seong Myeong-sa of*Stock
0:05Creation*, presenting this as a special
0:07broadcast for the 7th anniversary of
0:09Ewha TV. This will be our fourth
0:11session today. Yes, I have prepared
0:14another wonderful lecture for today, so
0:16let's spend the next hour together. Now
0:19, regarding the reasons for the
0:20widening wealth gap in the United
0:22States...it is one of the reasons,
0:23isn't it? Yes, not that it is the only
0:25one. Research results have emerged
0:27stating that one of the reasons is
0:29stock trading patterns. This was on the
0:3227th. On the 27th, the Wall Street
0:34Journal analyzed data from the
0:38University of Michigan and reported the
0:39following. The high-income class buys
0:42stocks at their lowest points, buys
0:44during market downturns, and weathers
0:46economic recessions. They would be
0:49friends like Warren Buffett, whom we
0:51know. Right? Yes. The explanation is
0:54that while the middle class holds out
0:56to reap high returns, the middle and
0:59lower classes, when the economy gets
1:01tough, end up hastily cutting their
1:03losses out of fear. What is interesting
1:08about the additional research results
1:10is that it seems the situation is
1:13similar in the U.S. The top 10%hold 61%
1:15of the total wealth in the U.S., and
1:18the next 10%and 12%hold the next 10%,
1:21totaling about 73%. Anyway, if you look
1:25at Wall Street, they release a lot of
1:27peculiar research results. Yes, since
1:30it was the 27th, news came out that the
1:32top 10%buy low and sell high, while the
1:35remaining 90%repeat a pattern of buying
1:38high and eventually selling when stock
1:40prices hit rock bottom. So, I have
1:44prepared some very interesting and
1:46important lecture content for today.
1:48Now, the content of today's lecture is
1:50this. Today...Uh, let's switch back to
1:52the screen right away. We will proceed
1:55immediately. Okay, let's move on to the
1:58screen. Let's take a look. So, today's
2:01lecture content is Part 4. Yes. That's
2:03right. Develop a trading habit centered
2:05on stable blue-chip stocks. Yes, you
2:08must know to beat the big players. We
2:10will spend an hour together covering
2:13these topics. Now, when we talk about
2:15blue-chip stocks, what exactly are
2:17considered blue-chip stocks? Yes, in
2:18the stock market, if we talk about
2:20blue-chip stocks, what exactly is
2:21considered a blue-chip stock? Yes, do
2:22you perhaps remember? It was 1971. It
2:26was hosted by MBC and sponsored by
2:30Namyang. Yes, at that time, they were
2:33holding a selection contest for
2:35blue-chip stocks. They selected
2:38children aged 6 months to under 24
2:40months. Among those children, they
2:44would identify the one with the highest
2:47weight and best development, award them
2:49a prize, and provide them with a year's
2:52supply of free formula. It was an event
2:56like that. However, that continued
2:59until 1983, when it was abolished. It
3:02seems that as soon as President Chun
3:03Doo-hwan’s administration took office
3:04, they were like, "What is this?" and
3:05got rid of it. Now, thinking about it
3:07now, MBC was quite an impressive
3:08organization, wasn't it? Yes, MBC
3:10hosted it. The Namhyang business was
3:13like that. Yes, sponsoring it. Since it
3:16was a time when there was nothing to
3:18eat, the campaign was to feed formula
3:20milk to children instead of breast milk
3:22. Ah, it was that kind of campaign. It
3:25was an event that seemed absurd
3:27compared to today. Now, what I want to
3:29tell you is this: blue-chip stocks are
3:31exactly like that. Right? Yes. They are
3:33in good condition. We call stocks that
3:37have a solid weight "blue-chip stocks."
3:42Shall we move on to the next screen? So
3:45, the content I want to convey to you
3:47is this, everyone. Yes, I call this
3:50stock analysis. So, the most important
3:54thing for you all is this: in the stock
3:56market, the most important thing is
3:58which stocks you choose and when you
4:00trade them. There is nothing else to
4:03stocks. It is exactly two things. Now,
4:05the first is stock selection. It
4:07depends on which stock you choose. The
4:11second is when you buy the selected
4:13stock and when you sell it—that is
4:15the most important thing. So, today, I
4:20will explain all of that to you within
4:23one hour. Now, we approach this a bit
4:26in a complicated way. So, when we talk
4:28about stock analysis, it is essentially
4:30stock selection. In other words, we
4:32call this fundamental analysis. So, you
4:34might think, "Wow, fundamental analysis
4:35and technical analysis are super
4:37difficult. As expected, Director
4:38Seong's broadcast is difficult." If you
4:41are thinking, "I should change the
4:42channel," please don't do that. It is
4:45simple. Fundamental analysis refers to
4:47financial analysis, specifically
4:49financial statements. Actually,
4:50regarding financial statements, unless
4:53you are someone who majored in
4:55accounting...For the 5 million
4:56individual investors in our country,
4:59selecting stocks based solely on
5:01financials is virtually impossible. Yes
5:04, it is impossible. That is correct. So
5:06, just think about the ledgers. Just
5:09imagine going to a traditional Korean
5:10takju pub a long time ago, having a
5:12glass of makgeolli, and then filling
5:14out the ledger for your credit. You
5:16just need to think about that. It is
5:20absolutely difficult, isn't it? Now,
5:21there are two things. Fundamental
5:23analysis involves intrinsic value and
5:25market value. So, what are intrinsic
5:28value and market value? Let's define
5:31market value this way. Let's assume
5:33there is a matchmaking agency. Seong
5:37Su-dang, the master of metaphors, is a
5:39master of metaphors. Uh, the
5:41marriageable age is approaching now.
5:44For women, it has to be around
5:46thirty-one, thirty-two, or thirty-three
5:49, and for men, it seems they get
5:51married by the age of 38. So, actually,
5:53personally speaking...This is a rather
5:55serious problem. Regarding men settling
5:58down and finding employment, yes. They
6:01say the typical age for starting a
6:03family is between 38 and 40. So, let's
6:05say he gets married at 38, or 39, and
6:07has a child. When the child is born, by
6:12the time they graduate from high school
6:14and enter college, it is before they go
6:15to the military. By the time they enter
6:17college, they are 20 years old. At that
6:19point, the father needs to be in his
6:2170s. He really needs to be. Yes, that's
6:22right. But by the time the child
6:24finishes military service, graduates
6:26college, builds up their resume, and
6:27obtains a few certifications, the
6:28father is in his 70s. How on earth are
6:31they supposed to raise a child? I
6:33consider this a major social issue, and
6:36for our country, it is quite bad. That
6:38is the point. What I want to say about
6:41intrinsic value is that, like in the
6:43old days, it is right to start at age
6:4525, and for men, it should be 27 times.
6:48Intrinsic value means that the five
6:49major organs and six minor organs must
6:51be strong. It may not be outwardly
6:53visible, but looking at the internal
6:54workings, the five internal organs and
6:56six internal organs—or whatever you
6:58call it—must all be strong. That is
7:00what ultimately makes it a good
7:02investment. You must be healthy, no
7:04matter what. Only when you are healthy
7:06can you project a polished appearance
7:08outwardly. If your body is in poor
7:10condition internally and your internal
7:12organs are not as strong as your
7:14physical strength, your face will look
7:16shaggy, you'll be walking around with
7:18sandbags under your eyes, and you'll
7:19get black eyelids. You know how dark
7:22circles appear like that? So, the most
7:24important thing is simple. That is why,
7:26when a matchmaking agency makes a
7:27judgment, a truly healthy person has
7:28better intrinsic value. You must have
7:33strong internal organs and six internal
7:34organs to be evaluated in the market.
7:38You can be valued highly in the market.
7:40That is the gist of it. This is called
7:42fundamental analysis. Okay, let's move
7:45on to the next screen. Now, we need to
7:48identify the timing for trading. We
7:51call this technical analysis. Technical
7:54analysis. You’ve all heard this
7:55saying, right? Stock price and trading
7:57volume do not change. Stock price and
7:59trading volume do not change. They say
8:01it like this: Stock prices do not
8:03change. However, trading volume does
8:06change. Trading volume is...there is
8:08trading at a certain time, and then
8:10when you wake up the next morning,
8:11there is volume that wasn't there
8:13before. I have seen several cases where
8:16it was 300,000 shares yesterday, but
8:17the next morning, the volume had surged
8:19to over a million or hundreds of
8:21thousands. So I even called the trading
8:23department to inquire. They said they
8:26didn't know. Yes, they said they
8:27absolutely had no idea. Yes. I had that
8:30data with me before. Trading volume can
8:33certainly fluctuate, and there may be
8:35omissions. However, the most important
8:37factor is institutional intervention,
8:39right? What did I say about
8:40institutions? I already mentioned
8:41institutions. Taking Samsung
8:43Electronics or Hyundai Motor Group as
8:45examples, we refer to securities firms,
8:47investment trusts, insurance companies,
8:50banks, the government, other
8:52corporations, and foreign investors as
8:54institutions. So, in any case, you just
8:56need to intervene by following suit
8:58around the time when big players—
9:00professional investors—intervene.
9:02However, there are some of you who
9:04chase after stocks to the very end
9:07where institutions do not intervene.
9:09The fact is, you absolutely must not do
9:11that. That is all there is to it. Now,
9:13it’s difficult, isn’t it? That is
9:14why I showed the screen like this. So,
9:17sometimes we talk about this. Now,
9:19standards and principles. Wow, the most
9:21important things in stocks are
9:22standards and principles. So, let me
9:25explain what standards and principles
9:28are in detail. A standard refers to a
9:31fundamental benchmark. So, the
9:34fundamental benchmark refers to
9:37fundamental analysis. As for standards
9:39and principles, they refer to rules
9:41that must be followed consistently
9:42during trading—what do I say?
9:44Consistently, once more. They refer to
9:46rules that must be followed
9:50consistently. So, when we say, "This is
9:52technical analysis," and that you must
9:54strictly adhere to the basics and
9:56principles, it means that you must
9:58meticulously examine both fundamental
10:00and technical analysis in parallel.
10:03However, I have never seen a place
10:07explain it this way. Yes. You are
10:09trading stocks in this absolute chaos
10:11where you don't even know what the
10:14basics, standards, or principles are.
10:17Now, to rephrase "standards," they
10:19would be fundamental analysis. So, this
10:22is the book of books. Then, what are
10:24the principles? That is technical
10:26analysis, which is the chart. Do you
10:29understand? Okay, let's go through them
10:31one by one. First, looking at the book
10:36of fundamental analysis—the "five
10:38books and six books"—we saw what kind
10:40of books were there. First, there is
10:44sales revenue; second, operating profit
10:46; third, the debt ratio; and fourth,
10:48the retained earnings ratio. As for BPS
10:52, I sufficiently explained it to you
10:54last time using the chicken shop
10:56example, so I will not explain it today
10:59. I will briefly elaborate on it later
11:03on. Next, what appears as a multiple of
11:06these is called PBR. You only need to
11:08know this, but you might think it's
11:10difficult. You are probably watching
11:12this broadcast right now and saying, "
11:14Fundamental analysis? I don't know
11:15anything about that." Well, let me
11:18explain it simply. Okay, today, let's
11:20not run a chicken shop. Let's run a
11:23pork belly shop. I’ve opened a pork
11:26belly shop, and today's sales were
11:29500,000 won. If daily sales are 500,000
11:31won, that isn't all my money, right?
11:33What goes into that? Cost of Goods Sold
11:36goes into it. To run a pork belly shop,
11:38I have to buy the pork belly from a
11:40local store, and then there are the
11:42ingredients. Things like chopped green
11:44onions, garlic, lettuce, perilla leaves
11:46, and various other things. There will
11:49also be various side dishes prepared in
11:52the kitchen. We call that the cost of
11:54goods sold. If I subtract the cost of
11:56goods sold and the sales dropped from
11:59500,000 won to 250,000 won, that is
12:01called gross profit. Gross profit of
12:04250,000 won. Now, but what goes into
12:07gross profit? It’s not over yet.
12:10Selling and administrative expenses
12:11come into play. Right. We shorten it to
12:14"SG&A." What exactly are selling and
12:15administrative expenses? They cover
12:17costs for running the business, such as
12:19staff for serving, or the kitchen
12:20assistants we call "side dish ladies"
12:22—you know, the ones who make side
12:23dishes. They also cover electricity and
12:27water bills, and the cost of
12:29advertising and attracting customers by
12:32making flyers and inserting them into
12:34newspapers. All of these expenses are
12:37called selling and administrative
12:38expenses. If you calculate all of this
12:40and find that 150,000 won remains, we
12:43call this operating profit. Operating
12:45profit. You understand up to this point
12:46, right? It is operating profit. So,
12:48that’s enough about operating profit.
12:50Now, winter has arrived. You know what
12:52we enjoy? It’s the street food,
12:54Bungeoppang. For the Bungeoppang
12:56business, knowing just about operating
12:57profit should be enough, right? However
12:59, for already listed stocks, it is not
13:02like that. What do we need? Okay, there
13:04are selling, general, and
13:05administrative expenses. Okay, selling,
13:07general, and administrative expenses.
13:09I'll read it out for you. Please don't
13:10look at this part for now. I'd like you
13:12to look at me. Now, over here, on the
13:13right side of your TV screen, I'll read
13:15it out for you. Selling, general, and
13:17administrative expenses include
13:19executive compensation, financial
13:20allowances, retirement benefit reserves
13:21, bonuses, employee welfare expenses,
13:22advertising and promotion expenses,
13:23SOHO product costs, utilities, travel
13:25expenses, communication expenses,
13:26regulatory expenses, insurance premiums
13:27, taxes and public charges, deductions
13:29and rewards, donations, and then we
13:30move on to miscellaneous expenses. Okay
13:31, you understand operating profit,
13:33right? You understand what selling,
13:34general, and administrative expenses
13:34are. Then, there is something that adds
13:36or subtracts from operating profit;
13:38what do we call this? We call it
13:41operating expenses. We call it
13:43operating expenses or profit. And what
13:45is marked in red below is called
13:47corporate tax expense, which is tax.
13:50Yes. It is the tax being deducted. Now,
13:52since sole proprietorships cannot be
13:53listed on the stock exchange and only
13:55corporations are eligible, we call this
13:57"corporate tax expense." It is the tax
13:58being deducted. And what remains purely
14:01is what we refer to as short-term net
14:03profit. You’ve probably heard the
14:04term "short-term net profit" a lot.
14:05However, what you need to know here—
14:07and what is important—is this:
14:09operating expenses. You need to
14:12understand what operating expenses are.
14:15"Hey, what are operating expenses?"
14:17Well, for example, we call a child who
14:18studies but wastes their time playing
14:20games an operating expense. So, for
14:23instance, if a company does something
14:24strange instead of making the cars it
14:26was supposed to make, or engages in odd
14:28behavior instead of selling the
14:29smartphones it was supposed to
14:30manufacture and sell, we call these
14:32operating expenses. In other words, we
14:35define operating expenses as costs
14:38incurred by a company due to causes
14:40other than its core business activities
14:43. So, you must be curious about what
14:46other types of operating expenses there
14:48are, right? Then, from now on, please
14:51look at me. Don't look at the screen on
14:54the right. Okay, operating expenses.
14:56There are interest expense discounts,
14:57deferred interest assets, uptrends,
14:59losses on disposal of securities,
15:00losses on valuation of securities,
15:01revenue, foreign currency asset losses,
15:03donations, losses on disposal of
15:04investment assets, losses on disposal
15:05of tangible assets, losses on bonds,
15:07related losses, small cabins, etc.
15:08Let's move on to the next screen. Now,
15:10here's the thing. There is something
15:12called "securities." Sometimes, when
15:14you see it on TV—whether in
15:15newspapers or watching economic
15:17programs like "Economic T"—you hear
15:18the term "securities market" a lot,
15:20like, "Today, foreigners and
15:21institutions bought together in the
15:23securities market, while individual
15:25investors alone made a net sale of a
15:26certain amount." Right? People often
15:29ask, "What on earth is the securities
15:30market? I know KOSPI and I know KOSDAQ,
15:32but I have absolutely no idea what they
15:34mean by securities." Securities are
15:36divided into two types. The first is
15:38monetary securities, and the second is
15:40capital securities. So, you all know
15:42about monetary securities, right? Yes.
15:44Do you know them? Yes. They are the
15:46promissory notes and checks that caused
15:48the major crisis during the Donghyang
15:49Securities era, before the current
15:51Limited/Top Securities. So, monetary
15:53securities refer to pieces of paper or
15:55promissory notes that are circulated as
15:57substitutes for currency. As for stocks
16:01, which you encounter, we call them
16:03capital securities. Capital securities
16:06include stocks, public bonds, and
16:07private bonds. In other words, we call
16:09securities representing claims on
16:10capital or profits "capital securities.
16:12" Therefore, what we commonly refer to
16:14as "securities" actually refers to
16:16capital securities. Now, "marketable
16:17securities," which are the subject of
16:19trading in the stock market, also refer
16:21to these very same capital securities.
16:22So, when we say "marketable securities
16:24market," we are talking about the KOSPI
16:26market. We do not refer to the KOSDAQ
16:28market as a marketable securities
16:29market. So, you can simply understand
16:32that "marketable securities market"
16:34refers to the same thing. Okay, we have
16:38returned to the beginning. Now that we
16:40have come back to the beginning, there
16:42is a standard, right? What is
16:44fundamental analysis? It is the
16:45accounting books. So, what is needed?
16:48Looking inside the five books and six
16:50records, sales revenue and operating
16:51profit...now you understand, right?
16:53When you subtract the cost of goods
16:55sold from revenue, you get gross
16:56revenue, and when you subtract selling,
16:58general, and administrative expenses
16:59from that, you get operating profit.
17:01But revenue is 500,000 won, yet the
17:03operating profit is -100,000 won. In
17:05that case, that pork belly restaurant
17:08would have to close down. How long can
17:11it hold out? It might last a month or
17:12two, but if the operating profit
17:14remains in the red for a long period,
17:16that company is going to go bankrupt.
17:18However, when you look through the
17:19books in the stock market, you see
17:21companies like that are huge, right?
17:24Yes, there are many of them. But if you
17:26just blindly chase after those stocks,
17:28you are in big trouble. That is why I
17:31strongly advise you to always look into
17:33any stock—whether it is a text
17:35message, a KakaoTalk message, an email,
17:38or something else—whenever it catches
17:40your eye while you are watching TV. So,
17:43regarding the debt ratio, Book Value
17:45Per Share (BPS), and Price-to-Book
17:47Ratio (PBR), I have personally prepared
17:49this content for you today. I will zoom
17:51in and explain each one, so it will be
17:54easy. Now, when you open your HTS, you
17:56will see the exact same screen. Since
17:59the screen appears, don't worry about
18:00anything. I will explain the screen
18:02nicely like this. Okay, I’ve brought
18:06out a stock called KC Tech. Please keep
18:09in mind that I am absolutely not
18:10recommending this; I am here to provide
18:12a comparative analysis and lecture to
18:14you. So, this is the stock called KC
18:16Tech. If you look here, it says "
18:18Industry." This refers to the industry.
18:21To put it in my own words, it is like
18:23asking, "Hey, what kind of guy are you?
18:25" It is asking, "What kind of person
18:26are you?" Right? "I am a company that
18:29makes a living by manufacturing IT
18:31semiconductors, semiconductors, and
18:32related equipment.""Oh, really? Is
18:34business going well?""Yes." That is the
18:36gist of it. Got it? Also, if you look
18:39at the left side, it says "Headquarters
18:41Phone Number,""Headquarters Address,"
18:43and "Stock Contact." So, if you have
18:46bought a stock and feel frustrated—
18:47whether the price isn't moving and is
18:49stagnating for a long time, or
18:51plummeting, or skyrocketing—you
18:53wouldn't call, right? Anyway, if you
18:56are curious, you call here. So, if you
19:00call the stock manager and ask in
19:02detail why a stock you own is behaving
19:05this way, that manager is legally
19:08obligated to explain it to you in
19:10detail. Why? Because you are major
19:13shareholders. So, you can talk for an
19:15hour, two hours, or even longer. Then,
19:17the stock manager will ask, "Uh, but
19:19anyway, how many shares do you own?"
19:21Then, 1 million won is sufficient.
19:23Understood? Okay. Let's look at the
19:25next one. If you look here, it says "
19:27Shareholder Status." Yes, it says "
19:30Shareholder Status." Ah, and looking
19:32below, regarding the shareholder status
19:34...the blue-chip stocks I am talking
19:35about...if you look here, it says "
19:37High-Speed, Large-Scale." And if you
19:39look at the shareholding percentage, it
19:42says 42.04%. However, KB Asset
19:44Management currently holds 8.6%, and
19:46the National Pension Service holds 6.3%
19:48. I also pay my National Pension
19:53contributions diligently without
19:55missing a payment, but the National
19:57Pension does not ask for my permission
19:58...You have acquired a stake in this
20:00company. That is quite a strange
20:01occurrence, isn't it? Yes. As
20:04contributors to the National Pension,
20:06shouldn't we know how the National
20:07Pension Service manages its funds—
20:09whether once a year, or semi-annually
20:11or quarterly? Right? I would like to
20:14see that. Yes, that is correct. Anyway,
20:16the most important thing I want to tell
20:18you is what I mentioned regarding the
20:19Woohoo stake. Ideally, you should hold
20:23about 51%of the shares. Of course,
20:27holding in the 40%range instead of 51%
20:29doesn't mean the company is bad, but if
20:32the major shareholders hold a small
20:34amount and you hold the rest, to put it
20:37in my own words, they have run away.
20:40Understood? Please understand it that
20:42way. The most important thing is, who
20:43is holding the Woohoo stake again?
20:44That's right. The fact that the stock
20:46price of an asset management trust or
20:49the National Pension Service is linked
20:51together means that this company is
20:53good. Yes, you should think of it that
20:54way. If this is established as a key
20:56point like this...For now, just
20:58consider this a good thing. Okay, let's
21:00move to the side. It's the same spot as
21:02before, right? Looking here, the
21:04largest shareholder and special
21:05managers...uh...uh. It means my wife
21:07and my children. That is what it means.
21:09Okay, this is 42.4%. Next, shareholders
21:12holding 10%or more. What is this? It's
21:14not here. Earlier, KB Asset Management
21:17held 8%and the National Pension Service
21:19held 6%, so that's over 5%. It would be
21:21less than 10%. Right now, it's 14.91%,
21:24then e-money 0.04%, and treasury stock.
21:28When a company goes public, 20%of
21:29treasury stock goes to you, the
21:31employees. 3.82%. Roughly adding this
21:35up, it comes out to about 61%. About 61
21:39%. You understand, right? So, only when
21:41it meets these criteria does it pass
21:43the first hurdle for being a blue-chip
21:45stock. Okay, let's go to the next
21:47screen. When you go to the next screen,
21:48you see a display like this, right?
21:50What does it say? Looking here, it says
21:53"Business Summary." Now, the section
21:55below is written in Korean, but this
21:56part is written in English. Why is that
21:58? Well, I'm just trying to sound
21:59knowledgeable for no reason. A business
22:02summary is supposed to be a summary of
22:03a company's business activities, but I
22:04don't know why they specifically write
22:06it like this. Now, if you look here...
22:09uh, that's what it says. It says this
22:11company is involved in semiconductors,
22:12displays, manufacturing, and so on. You
22:14just need to read it. Then, what does
22:16the section below say? It says the
22:18company's sales for the first half of
22:202014 were 153.2 billion won. Right. It
22:23increased by 31%compared to the same
22:25period last year. You understand now,
22:26right? It means sales increased
22:28compared to the same period last year
22:30compared to last year. And here, it
22:32says something about profit recording
22:348.5 billion won, an 11%increase
22:36compared to the same period last year.
22:40That's what I explained earlier, right?
22:42Yes. It is exactly the content as I
22:44explained earlier, right? So, since I
22:45can't see it clearly, please zoom in.
22:48Here, it says that this company
22:49accounts for 52%of total revenue due to
22:51Samsung Electronics 'DRAM expansion. So
22:53, if there is content about how it
22:55contributed to this growth and such,
22:57you can just read it. So, what I
23:00explained earlier is written here.
23:04Right? I apologize for what I said here
23:06. What does it say? Oh, really? Looking
23:09here, it says "Operating Profit," right
23:11? Operating Profit. It says operating
23:13profit increased by 37%compared to the
23:14same period last year. That is the gist
23:16of it. Right? Ah, so if operating
23:18profit increased by 37%and net profit
23:20increased to some extent, then I see
23:22that is what it means. Since it
23:24increased by 11%. So, relative to
23:26revenue, the operating profit and
23:28short-term net profit are decent. This
23:30is a blue-chip stock. This isn't
23:32difficult. It is absolutely not
23:33difficult. Yes. Okay, I will move on to
23:35the next screen. So, here, we need to
23:37understand this in detail. There are
23:40people who think, "Wow, this is
23:41complicated," the moment I show this
23:43screen and switch the news channel, but
23:44you absolutely must not do that. It's
23:46incredibly fun, everyone. It's
23:47absolutely not difficult. Now, look,
23:49it's written in English here again. It
23:51says "Financial Highlights." I don't
23:54know why. Well, you can just think of
23:57it as "Sports Highlights." Now, if you
23:59look here, there are two types. The
24:01first is "Consolidated Financial
24:02Statements." The second is "Separate
24:04Financial Statements." So, what are
24:06Consolidated Financial Statements?
24:07Let's say I am a father. My monthly
24:10salary is 2.5 million won. I have four
24:12children—two daughters and two sons
24:14—who work and bring home a monthly
24:15salary of 1.2 million won and 1.5
24:17million won, respectively. My daughters
24:20and sons are quite filial children. If
24:22they say, "Father, this is the salary I
24:25earned today. Please save this money
24:28and use it to help me when I get
24:30married," what do you call that? You
24:33call it Consolidated Financial
24:34Statements. So, you've heard that kind
24:36of talk before, right? You've heard of
24:38a subsidiary, right? It's basically the
24:40same thing. But this time, it's a bit
24:42different. These kids, suddenly, said,
24:44"Father, I have something to tell you."
24:46I asked, "What is it?" And they replied
24:48, "From now on, don't worry about the
24:50salary I receive. I'll earn my own
24:52money and take care of my own marriage.
24:53" So what do you do then? They said, "
24:55It's a separate financial statement."
24:56That's what they mean. A separate
24:58financial statement is when only the
24:59revenue related to your monthly salary
25:01of 2 million won or 2.5 million won is
25:03shown. See, you understand right away,
25:06don't you? I'm telling you, it's
25:08nothing special. Okay, you get it,
25:08right? Looking at the revenue here, you
25:09understand now, don't you? You know
25:11what revenue and operating profit mean,
25:12right? But next to it, above, they
25:16wrote "Annual" in English. I don't know
25:19why they wrote it like that there. This
25:20is the year. 11, 12, 13, 14, 15, 16.
25:23See, 14 hasn't come yet. 15 hasn't
25:30passed, and 16 hasn't passed either.
25:32Yes. That's right. So, if we look here,
25:35and specifically at the markings for
25:382014, if you look closely, it is
25:40written in English, opening with' E '
25:43and closing with' I '. It says'
25:46Estimate, 'meaning an estimate. In our
25:48terms, that is roughly what it means.
25:50It means the estimates are as such. Now
25:53, looking at this company, the
25:54operating profit relative to sales is
25:5713 billion won, 8.9 billion won for 170
25:59billion won, and 30.9 billion won for
26:01280 billion won. Wow, that's pretty
26:03good. While sales and operating profit
26:06dropped a bit in the previous year,
26:082012, we can see that sales and
26:09operating profit were quite strong last
26:12year, 2013. Right? And you know what
26:14the net profit is, right? Yes.
26:16Everything has jumped. This is the
26:18result after paying all taxes, but
26:20Director, there is one strange thing.
26:22The operating profit is clearly 8.9
26:24billion won, so why did the net profit
26:26become 11.2 billion won? You must have
26:29paid taxes, right? Then you should have
26:31been able to earn money, so how could
26:32it increase? Uh, that thing about not
26:34listing it as an operating expense. But
26:37operating expenses aren't just about
26:39costs; it implies there is also profit.
26:42Understood? How did they earn that
26:44money? They must have done something
26:46else, right? Yes. Like investing in
26:48real estate or buying stocks to make
26:49money. Understood? Yes. You can
26:52understand it that way. However, when
26:54you look to the side, there is
26:55something you absolutely must remember.
26:58If you look to the side, it is written
27:00like this. Now, since this is also the
27:03most important part. You might ask me,
27:08"It clearly said' Annual 'on the side,
27:09but here...yes, it says' Quarter. '"
27:10Let me draw a line. Looking here, March
27:132014, June 2014, September 2014,
27:16December 2014—what is this? 1st
27:19quarter, 2nd quarter, 3rd quarter, 4th
27:20quarter. Alright, loosen up basketball.
27:22So, once the weather gets chilly, the
27:23loosened-up basketball season begins.
27:25Now, how do they play? They play the
27:27game with cuts. 4 quarters. Right? We
27:29have 1st semester, 2nd semester. Well,
27:31in developed countries, the semester is
27:33divided into four. So, we divided this
27:35into 1st, 2nd, 3rd, and 4th quarters,
27:37each with three months. 12 months. So,
27:39you can think of it as 3 months, 6
27:44months, and 9—that is, 369, 369. Now,
27:47let's say we don't know the 3rd and 4th
27:49quarter results for 2014 yet. If a
27:51company indicates estimates like "sales
27:54revenue and operating profit will be
27:57good," we look at that. We look here to
28:00see how the results turned out in the
28:03last quarter. You can understand this
28:06as "checking my quarterly performance."
28:10Now, let's move on to the bottom. If we
28:12go down, it says "Debt Ratio," and
28:14below that, "Retained Earnings Ratio."
28:16Looking here, the debt ratios are 26%,
28:2014%, and 27%. Personally, I respect
28:23President Kim Young-sam. If it weren't
28:25for President Kim Young-sam, we would
28:27have been in big trouble. Our country
28:29could have ceased to exist forever.
28:31What does that mean? Well, everyone,
28:33before the IMF financial crisis hit,
28:35back then, all the people doing
28:36business and running shops were saying
28:38this. They would stand with their legs
28:40crossed and say, "Hey, I'm running a
28:41business. I'm doing business with my
28:43own money, so why? Whose money are you
28:46using? We're doing business with your
28:47money." It was that kind of crazy
28:48behavior, wasn't it? Back then, if you
28:51look at it, the debt ratios were around
28:53800%and 750%. That is the problem,
28:55isn't it? Yes. Anyway, it was 800%.
28:58They were just running on debt. So,
28:59ultimately, President Kim Young-sun
29:01manipulated the exchange rate at the
29:02time to facilitate our country's
29:04accession to the OECD. As a result, a
29:06foreign exchange crisis ensued, and
29:08consequently, if you look at all our
29:10domestic stocks now, the debt ratios
29:12are extremely high. It is the same
29:14everywhere. Now, it’s funny, isn't it
29:15? Normally, for a developing country, a
29:19debt ratio of 400%is considered normal,
29:21with positive sales, operating profit,
29:23and outstanding net income. However, we
29:26have moved beyond being a developing
29:27country; while we are not a developed
29:29nation, we are referred to as a
29:30middle-income country. Our country is
29:32classified as a middle-income nation.
29:33For a middle-income country like ours,
29:35a debt ratio of up to 150%is acceptable
29:37, and for a margin-driven market, up to
29:40200%is generally fine. Understood? Now,
29:42the point to note here is that for
29:44financial stocks, securities stocks,
29:46bank stocks, and insurance stocks, you
29:48should not rely on fundamental analysis
29:50. Instead, you should simply look at
29:51the Book Value Per Share (BPS).
29:52Understood? Okay, so you understand now
29:54, right? That company has no debt. And
29:57if you look below, you see "Retained
29:59Earnings Ratio." It shows 1080%, 114.84
30:03%, and 125.5%. Let me explain this
30:07simply. Let's say I bought a stock for
30:1010,000 won, and it became 20,000 won,
30:1130,000 won, or 40,000 won. How would
30:14you describe that? You'd say it's a 100
30:16%profit, a 200%profit, or a 300%profit.
30:19But when I said there was a 200%profit,
30:21some people would ask, "Hey, it went up
30:22200 times?" There are so many people
30:25who make completely incomprehensible
30:26statements like that. That's because
30:28people in our country just don't know.
30:30I know they don't know, but it's funny
30:31that they don't even try to learn.
30:33Right? So, how much does this company
30:35hold relative to its capital? It means
30:38it holds 12 times its retained earnings
30:41. That is why we refer to a company
30:44like this as a so-called blue-chip
30:46stock. Stocks like these. If you look
30:48for them, there are many of them. That
30:49is why these are blue-chip stocks.
30:51Blue-chip stocks. You are currently
30:52studying fundamental analysis.
30:55Understood? I want to tell you that you
31:00should not hold onto stocks that are
31:01not like that, agonizing over them all
31:02night, unable to even talk to your wife
31:04or husband about it. Okay, moving on to
31:09the next screen. Now, next up is what I
31:11always talk about and consider
31:14important. It is BPS. After analyzing
31:17all the market data so far and drawing
31:20a conclusion, it was 6,700 won last
31:22year. The estimated price for Estimate
31:25in 2014 was 7,200 won. That is the
31:27point. Now, what does this mean? I said
31:30that was the case, right? I'm doing
31:32business, but I'm quitting. I'm running
31:34a company, but I'm quitting. I
31:36liquidated everything. I cut all the
31:37outstanding debts, paid all the
31:39employees' overdue salaries, and for
31:40example, 1 billion won remained. You
31:42have 1 billion won left, and there must
31:43be a number of shares I issued, right?
31:46You divide that number of issued shares
31:48by the value of your liquidation.
31:51Dividing it gives you results like
31:537,200 won or 6,700 won. Do you
31:55understand? So, what is PB below? It
31:57stands for Ratio. It is calculated as a
31:59multiple. So, 1.09 times means that,
32:01for example, when I divided it, it came
32:03out to 10,000 won. Since it is 10,000
32:05won, at what price is it trading in the
32:06market? 1,000 won. What was it? 10,900
32:10won. Then the PBR is 0.5 times. Now, I
32:13calculated the BPS from the liquidation
32:15value and it came out to 10,000 won.
32:17But this PBR of 0.5 times means it is
32:20trading at 5,000 won. So, it is
32:22significantly undervalued. Do you
32:24understand? However, as I always
32:27emphasize, the most important thing is
32:31what the FN Guide says below. To help
32:35you read it out, I will summarize it
32:37for you. Now, the most important point
32:40is this: I, Seongsu Jang, have been
32:42diligently explaining fundamental
32:44analysis to you below, but what does it
32:46say? It says this. Listen carefully.
32:49The information provided by FN Guide is
32:51derived from reliable data or
32:53information, but its accuracy or
32:55completeness cannot be guaranteed and
32:57is subject to change over time.
33:00Therefore, there may be errors, and
33:03regarding academics, it clearly states
33:06that FN Guide or the company providing
33:08FN Guide data bears no legal liability
33:11for the results. So, what exactly is FN
33:16Guide? I have already explained it to
33:18you. As I explained in the first,
33:21rather boring, lecture, it is an
33:23analyst. It is a company that compiles
33:26reports issued by the research
33:27institutes of various securities firms
33:29and provides them here. When you look
33:32at the financial statements—which are
33:34referred to as "fundamental analysis"
33:36on the HTS you use at this company—
33:37you will find content like this. You
33:40understand, right? Now, the next screen
33:42we will move on to is...You have a
33:43pretty good grasp of this so far,
33:45haven't you? You think, "Wow, so this
33:46is what fundamental analysis is." You
33:48probably think, "I can just trade based
33:50on these criteria," right? Is that so?
33:53Then, uh, now we are moving on to
33:55technical analysis. So, as we move into
33:57technical analysis, there is something
33:59you all absolutely must do at this
34:00point, isn't there? When it's time...
34:02Yes. Is that so? Now, everyone, please
34:04stand up. Quickly head to the kitchen
34:07or the soup room and get a cup of tea.
34:10Alright, sure. I will see you again
34:12exactly at 60 seconds. See you later.
35:07Now, we are moving on to the technical
35:09analysis chart. This is technical
35:12analysis, which I briefly explained to
35:15you during Lectures 1, 2, and 3. So,
35:18regarding this broadcast...As I
35:20mentioned, this broadcast was prepared
35:23as a special feature for the 7th
35:26anniversary of Assistant Manager Lee TV
35:29. So, while we talk about the creative
35:33economy, as I always say, while it is
35:35possible to operate within existing
35:37frameworks, please think about it. If
35:41everyone views things the same way,
35:44then those professional investors...
35:46they would be different, right? I am
35:49just speculating to myself that the HTS
35:51we use and the HTS they use might be
35:53somewhat different. So, we are moving
35:56on to technical analysis charts. Now,
35:58let's move on to the screen. So, what
36:01is a technical analysis chart? I said
36:03it is "LIFE." LIFE stands for LI-Fe.
36:07The character is "Naeja"(inner). It is
36:09a character with "If" in the middle.
36:11The inclusion of "if" implies that
36:13there is a possibility. I am not saying
36:16that all buying strategies are bad, but
36:19since there are people watching, I am
36:21Korean. Right? That was created in
36:24Japan. Now, if you look at the screen,
36:27I named it the "Pungryu Candle."
36:30Regarding the word "Pungryu"...I
36:32apologize. I am quite young, but I have
36:34a pen name. That is why my pen name is
36:35Pungryu. I am in the Delion Pungryu
36:37Club. Now, what is a Wind Power Candle?
36:40I mentioned that there are three
36:41possible scenarios. The first one...
36:43well, the lines are fearless. Please
36:45take a close look at what this is used
36:46for. The first one. Let's look here.
36:49Bullish, bullish, bullish, bullish. In
36:52the Four-Stairway Strategy, they speak
36:53of "Red Mountain Soldiers" and "Black
36:55Mountain Soldiers." So, regarding Red
36:57Mountain Soldiers, they say that if
36:59three soldiers in red uniforms appear
37:01at the bottom—that is, if three
37:03bullish candles appear—that is a buy
37:05signal. Regarding Black Mountain
37:07Soldiers, they say that at the high
37:09point, if three soldiers in black
37:11uniforms appear—that is, if three
37:12bearish candles appear—that is a
37:14strong sell signal. Don't talk nonsense
37:18. I have looked at it. I have been
37:20watching for 20 years straight, and
37:21that is not the case. So, I drew a
37:24candle, and what does this mean? Well,
37:26I will explain it to you, so please pay
37:29close attention. What I consider most
37:31important is this center line. As for
37:33the dotted line on the center line, I
37:35have divided it into three equal parts.
37:37Three parts. Got it? One part, two
37:39parts, three parts. So, I want to
37:42emphasize that the 1-minute mark is
37:45crucial. What is important here is this
37:47: Bullish candle, bullish candle,
37:49bullish candle, bullish candle. Now, it
37:51is the "Life" pattern. It is the Life
37:52pattern, but why is "If" included? Well
37:55, looking at the second type, the
37:57content is...next is "
37:58Bang-Yin-Bang-Bang." So, regarding the
38:02Life pattern, what does that mean?
38:05Right? Regarding the Life pattern,
38:09regarding the If pattern...if there is
38:11one bearish candle—for example, if
38:13candles 1 and 4 are bullish, but
38:15bearish candles 2 and 3 are in between
38:17—that is. This reveals a possibility.
38:23That is what I'm saying. A possibility.
38:25So, we view this as a single candle as
38:27well. Now, when we talk about weekly
38:29charts, we say there are five candles,
38:30but looking at it, a weekly chart
38:32actually consists of four candles. So,
38:34how do we read this? It reads as
38:36Yang-Yang, Yang-Yang, Yang. Got it?
38:40Yang-Yang. Now, how does the third and
38:43final case appear? It appears as a Yang
38:46at the 1-minute mark. It's the same
38:49thing. Yang-Yang, Yin-Yang. Let's
38:52summarize once again. There are three
38:54types of candles, and the first is the
38:57bottom zone. When they appear in the
38:59ocean zone, in the middle, or at the
39:01high point, the candle always appears
39:04like this. So, Yang-Yang, Yang-Yin-Yang
39:08, Yang-Yang, Yin-Yang. Watch carefully.
39:11Oh my, yes, I was really surprised. Now
39:13, look. Starting tomorrow, to all the
39:15viewers of this broadcast—the
39:16individual investors of South Korea—
39:17starting tomorrow, when you wake up in
39:19the morning...when you wake up in the
39:20morning, you are just going to say, "I
39:21lost, no matter what." You are going
39:24around saying, "Yang-Yang, Yang-Yang,
39:26Yang-Yin, Yang-Yang, Yin-Yang,
39:27Yang-Yang, Yin-Yang." Okay, ma'am, I'm
39:29going to a hangover soup place now. My
39:30stomach hurts after drinking so much. I
39:32go to the hangover soup place and say,
39:33"Ma'am, please give me one bowl of
39:34hangover soup. Yangnyang, ma'am, please
39:35give me lots of kkakdugi." If I say "
39:39Yangnyang" like that, what does that
39:40lady say? She thinks, "Finally, he's
39:44gone crazy since he started trading
39:45stocks. He's lost his mind." Now, to
39:45all the citizens of South Korea and
39:47individual investors watching this
39:48broadcast, let's go crazy for just one
39:50day. Whether you've been trading stocks
39:53for 10 years, managing investments, or
39:5520 years, if you can just go crazy for
39:58one day and simply input the "Yangnyang
40:00, Eumnyang, Yangnyang, Eumnyang" I'm
40:02telling you right now into your head,
40:04then when you look at the daily chart,
40:07you will see this. You will see this.
40:10So, everyone, let's all—the 5 million
40:13people of South Korea who trade stocks
40:15—go crazy for just one day. That is
40:17what we mean. There is that saying, "
40:20You have to go crazy to go crazy." It
40:21means that you have to be that crazy to
40:23reach that goal. Thank you. So, what
40:26does this mean? If you look at the
40:28chart, it is this. Shall we zoom in now
40:30? The point is that it starts not as a
40:33bullish candle, but as a
40:34bullish-yin-bullish candle. Right? Then
40:37, a bullish candle appears in the
40:39middle, followed by a bullish candle
40:41with an upper wick. So, looking at this
40:45spot I mentioned earlier while trading
40:47...if three bearish candles appear, is
40:49this a sell signal? No, it isn't. It is
40:51correct to buy here and sell here,
40:54isn't it? That is the message I am
40:56giving you. This is the message. Now,
40:58let's look at the next screen. So, what
41:00did I say about this? 3714 and 2856 are
41:02the percentages I am talking about. I
41:05mentioned that 56%of the 3%, 7%, 14%,
41:07and 28%will be implemented starting
41:10next year, right? Now, looking at
41:12number 108 here, let me explain it to
41:15you again. This is a single candle, and
41:17the first one appears as a
41:18bullish-bullish-yin-bullish candle. It
41:23shows bullish-yin-bull. Then, another
41:26candle appears, and on the bullish
41:28dotted line, it is bullish-bull. So, to
41:32reiterate, this means the candle forms
41:34like this, opens and breaks, and then
41:37rises back up. That is the pattern.
41:40After that, it forms bullish candles,
41:42and then bullish candles again. You
41:46understand, right? This is called a "
41:48wind-power candle." You just need to
41:51follow this. If you know just this, you
41:53can follow the bullish, bullish, and
41:55bearish patterns. Let's go crazy for
41:57just one day tomorrow. Got it? Okay,
41:59let's move on to the next screen. So,
42:00here the percentage is 3%, the spread
42:03is 7%, and the spread is 14%. What does
42:06this mean? At the bottom level, the
42:09candles are small. Below 3.75%, 2%, and
42:111%—since Sungso told us to buy like
42:14that, the price going up by 1%and 0.5%
42:16today will go crazy, right? It means
42:19that it moves like that at the
42:20beginning. Then, repurchase when there
42:22is a pullback. Next, since it is below
42:257.5%, or 6%, or 5%—if a 7%rise
42:27appears at the bottom—it is better
42:29not to proceed. And towards the very
42:32end, since it is below 14%, it could
42:34hit the upper limit, or if it soars 10%
42:37or 12%, that is where you are actually
42:39learning. And no matter how much you
42:41look at the candles, shall I zoom in
42:43here? Okay, regarding the second wave,
42:46I want to sell here; I don't want to
42:48enter here and get killed by the knife
42:50that is stabbing me. As I mentioned
42:53last time, if a candle appears with an
42:56upper wick longer than the body, that
42:58is abnormal. It is a sudden occurrence.
43:01I am asking why you look at this and
43:03think it is good to enter. This is not
43:06good; this is the end. Understood? I
43:08told you that according to Granville's
43:11Law, professional investors emerge
43:13during the bullish wave. Let's move on
43:15to the next screen. You know that,
43:16right? I clearly told you that. Now,
43:19please remember the 14%. Now, this is
43:22the Pungryu candle. I have just
43:24explained the Pungryu candle. So,
43:26starting from scratch, what shall we
43:29draw this time? You remember I
43:31explained this to you sufficiently as
43:34the "37 chart," right? 37. So, looking
43:37at the first, second, and third
43:39sections, starting from the bottom, a
43:41Golden Cruise occurs, and the price
43:43goes up. It means the price went up
43:46after the Golden Cruise occurred. Even
43:48at the very end, a Golden Cruise
43:50occurred, and buying the next day
43:52caused the price to rise. Anyway,
43:54please remember the 37 chart I
43:56explained. Now, let's remember the 3%.
43:59Remember the 7%. And you all should
44:02remember the 14%even if the sky falls.
44:05Now, let's add the Pungryu candle here.
44:07I will draw a color for you to see what
44:10it looks like with the Pungryu candle
44:12added. This color is my final gift to
44:15you. Hey, let's go to the entrance pen.
44:17Okay, I'm going to color in here right
44:20now. Oh my goodness, it's almost time
44:22to finish. Let's go here. I said this
44:24was the center line, right? This is a
44:25candle, too. I said this was the center
44:27line, right? I tried coloring the
44:29center line here, and I tried coloring
44:30it, and I tried coloring it...Do you
44:32all remember? From the peak to the peak
44:35, right? Here, I moved it a bit with a
44:38marker pen. The point is, the center
44:40line started to deviate from the peak.
44:43It started to deviate. Before that.
44:46Before that, you could see it going up,
44:48staying supportive, supportive, center
44:50support, without deviating. Right? So,
44:53I realized that the 3-seven chart,
44:54which I taught you over the course of
44:56four lectures, is the most important
44:57thing. It's not just about the closing
44:59price. Now, and Life. Now, in my life
45:01as a stock investor, if there is an "if
45:04"—if—there is a possibility. I tell
45:07you to go crazy for tomorrow. So, I'm
45:12telling you that the most important
45:15thing is 3714 and 2856. And...Tomorrow,
45:18at Delion, I will be hosting a free
45:21public broadcast to share the stories I
45:24couldn't finish today. Please come to
45:29the Idaero Pungryu Club tomorrow to
45:31continue the conversation we couldn't
45:33have. Most importantly, please make
45:36sure to remember 3714 285. An hour has
45:39already passed. I will see you again
45:42next Monday at 8 PM. This has been
45:45Director Seong Myeong-seok. Thank you.

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This page contains the full transcript of [風流Club_天地創造] 제4강 안정적인 우량주 중심으로 매매습관을 가져라 by 풍류Club, generated from the public captions YouTube serves with the video. The transcript has 7,910 words across 1,218 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

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