{"id":179,"date":"2020-03-16T18:53:18","date_gmt":"2020-03-16T17:53:18","guid":{"rendered":"http:\/\/www.mamasenudila.cz\/?p=179"},"modified":"2020-03-16T19:01:15","modified_gmt":"2020-03-16T18:01:15","slug":"koronavirusove-vypredaje-na-burze-cez","status":"publish","type":"post","link":"http:\/\/www.mamasenudila.cz\/index.php\/2020\/03\/16\/koronavirusove-vypredaje-na-burze-cez\/","title":{"rendered":"Koronav\u00edrusov\u00e9 v\u00fdpredaje na burze (\u010cEZ)"},"content":{"rendered":"\n<p>Pand\u00e9mia koronav\u00edrusu mi sp\u00f4sobila vr\u00e1sky na \u010dele nielen kv\u00f4li strachu o bl\u00edzkych, ale aj t\u00fdm, \u017ee <strong>a)<\/strong> \u00faspe\u0161ne vymazala prakticky v\u0161etky moje investi\u010dn\u00e9 zisky (z akci\u00ed na pra\u017eskej burze aj z krypta), ke\u010f\u017ee som reagoval neskoro a nezadal predajn\u00e9 pr\u00edkazy (hoci sa sna\u017e\u00edm ma\u0165 dlh\u00fd investi\u010dn\u00fd horizont, bola to hl\u00fapos\u0165, ke\u010f\u017ee sa prepad dal dobre predpoklada\u0165 a mohol som t\u00fdm rozmno\u017ei\u0165 svoje portf\u00f3lio), <strong>b)<\/strong> mi za\u010dalo v\u0155ta\u0165 hlavou, kedy bude vhodn\u00fd \u010das nie\u010do v t\u00fdchto v\u00fdpredajoch k\u00fapi\u0165.<\/p>\n<!--more Pokra\u010dova\u0165 na \u010dl\u00e1nok-->\n\n\n\n<p>S bodom a) sa u\u017e ni\u010d ned\u00e1 robi\u0165, ale dnes som sa rozhodol zada\u0165 pr\u00edkaz k n\u00e1kupu akci\u00ed \u010cEZu na cene <strong>349 K\u010d\/akcia<\/strong>, ktor\u00fd sa mi aj realizoval (juch\u00fa!). Viedla ma k tomu hlavne skuto\u010dnos\u0165, \u017ee sa jedn\u00e1 o celkom stabiln\u00fd dividendov\u00fd titul (\u010cesk\u00e1 republika ako majoritn\u00fd akcion\u00e1r rok \u010do rok po\u010d\u00edta s dividendou do \u0161t\u00e1tn\u00e9ho rozpo\u010dtu a tak sa na tento pr\u00edjem m\u00f4\u017eu spo\u013eahn\u00fa\u0165 aj mal\u00ed akcion\u00e1ri; naviac po v\u00fddajoch spojen\u00fdch s pand\u00e9miou koronav\u00edrusu bude mo\u017eno vl\u00e1da potrebova\u0165 zalepi\u0165 \u0161t\u00e1tny rozpo\u010det a na v\u00fdplatu dividend p\u00f4jde v\u00e4\u010d\u0161ia \u010das\u0165 zisku =&gt; vy\u0161\u0161ia dividenda). Minul\u00fd rok bola dividenda na akciu 24 K\u010d (m\u00ednus da\u0148), pri\u010dom hospod\u00e1rske v\u00fdsledky za rok 2019 vyzeraj\u00fa s\u013eubnej\u0161ie ako tie za rok 2018 (n\u00e1rast zisku po zdanen\u00ed za prv\u00e9 tri kvart\u00e1ly roku skoro a\u017e o 50 % &#8211; vi\u010f <a href=\"https:\/\/www.cez.cz\/webpublic\/file\/edee\/ospol\/fileexport-s\/pro-investory\/informacni-povinnost-emitenta\/2019-11\/2019-09_interim-kuz_cz_w44gbc.pdf\">konsolidovan\u00fa z\u00e1vierku<\/a>). Aj keby dividenda v tomto roku ostala rovnak\u00e1 ako minul\u00fd rok (\u010do pova\u017eujem za najhor\u0161\u00ed scen\u00e1r s oh\u013eadom na to, \u017ee \u0161t\u00e1t potrebuje peniaze a hospod\u00e1rske v\u00fdsledky bud\u00fa dovo\u013eova\u0165 vyplati\u0165 z \u010cEZu viac) &#8211; teda v \u010distom 20,40 K\u010d, tak je pomer dividendy k cene akcie rovn\u00fd 20,40 K\u010d \/ 349 K\u010d = 0,0584, \u010do znamen\u00e1 v\u00fdnos 5,84 %! To dnes \u010dlovek dostane m\u00e1lokde. Naviac rozhodn\u00fd de\u0148 bude na prelome j\u00fana a j\u00fala, tak\u017ee za cca 3 mesiace. Za predpokladu, \u017ee cena akcie neklesne pod moju n\u00e1kupn\u00fa cenu by sa teda jednalo o kr\u00e1sne zhodnotenie 5,84 % za \u0161tvr\u0165rok! K tomu naviac predpoklad n\u00e1vratu na \u00farove\u0148 okolo 500 K\u010d za akciu, \u010do by bol dodato\u010dn\u00fd bonus.<\/p>\n\n\n\n<p>Okrem peknej dividendy som zac\u00edtil potenci\u00e1l n\u00e1vratu ceny tejto akcie na janu\u00e1rov\u00e9 hodnoty (plus m\u00ednus 500 K\u010d) aj zo skuto\u010dnosti, \u017ee price to book ratio (pomer ceny k vlastn\u00e9mu kapit\u00e1lu) tejto akcie je ve\u013emi zauj\u00edmav\u00fd. Vych\u00e1dzaj\u00fac z vy\u0161\u0161ie odkazovanej \u00fa\u010detnej z\u00e1vierky za obdobie prv\u00fdch troch kvart\u00e1lov 2019 som si v\u0161imol, \u017ee vlastn\u00fd kapit\u00e1l \u010din\u00ed cca 248 mld. K\u010d, \u010do pri po\u010dte akci\u00ed cca 538 mil. kusov (<a href=\"https:\/\/www.cez.cz\/cs\/pro-investory\/akcie\/zakladni-informace-o-akciich\">https:\/\/www.cez.cz\/cs\/pro-investory\/akcie\/zakladni-informace-o-akciich<\/a>) \u010din\u00ed cca 461 K\u010d na akciu. Pri cene 349 K\u010d je price to book ratio 0,757. Jedna akcia teda stoj\u00ed 75 % \u00fa\u010dtovnej hodnoty, ktor\u00e1 na \u0148u pripad\u00e1.<\/p>\n\n\n\n<p>Dnes trh uzavrel na cene 358 K\u010d tak som zvedav\u00fd ako sa bude vyv\u00edja\u0165 \u010falej. Nemysl\u00edm si, \u017ee by som dne\u0161n\u00fdm obchodom chytil dno, naopak o\u010dak\u00e1vam, \u017ee n\u00e1kupn\u00e9 pr\u00edle\u017eitosti e\u0161te bud\u00fa (situ\u00e1cia s v\u00edrusom sa prechodne pravdepodobne e\u0161te zhor\u0161\u00ed) a som pripraven\u00fd dokupova\u0165.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pand\u00e9mia koronav\u00edrusu mi sp\u00f4sobila vr\u00e1sky na \u010dele nielen kv\u00f4li strachu o bl\u00edzkych, ale aj t\u00fdm, \u017ee a) \u00faspe\u0161ne vymazala prakticky v\u0161etky moje investi\u010dn\u00e9 zisky (z akci\u00ed na pra\u017eskej burze aj z krypta), ke\u010f\u017ee som reagoval neskoro a nezadal predajn\u00e9 pr\u00edkazy (hoci sa sna\u017e\u00edm ma\u0165 dlh\u00fd investi\u010dn\u00fd horizont, bola to hl\u00fapos\u0165, ke\u010f\u017ee sa prepad dal dobre [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/posts\/179"}],"collection":[{"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/comments?post=179"}],"version-history":[{"count":5,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/posts\/179\/revisions"}],"predecessor-version":[{"id":185,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/posts\/179\/revisions\/185"}],"wp:attachment":[{"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/media?parent=179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/categories?post=179"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.mamasenudila.cz\/index.php\/wp-json\/wp\/v2\/tags?post=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}