Investment potential analysis : an assessment model for technology shares
Van Niekerk, Jacobus Adriaan Engelbrecht
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My interest in shares investment was kindled during a period that I spend working in the United States of America. Most of my acquaintances held diversified portfolios and I had all kinds of questions as I attempted to understand the world of shares investment. When the opportunity arose for me to do a dissertation based in Financial Management and specifically directed at shares investment I jumped at the chance. This dissertation is therefore much more than just the final requirement in completion of my MBA - it is the fulfilment of a deep desire to understand something of the world where the creation of wealth has so many aspects and intriguing facets. I would like to think that this work will contribute, if only even at the smallest scale, to assisting private investors in the process of identifying good investments. The theoretical research was done with a specific goal in mind - to understand the process of wealth creation within organizations because it is within the organization that the whole process begins after all. A principle of Warren Buffet that seems to stand out in most of the work written about his investment prowess is that the investor should know the company that an investment is planned in. Conceptual understanding of valuation of organizations is thus paramount. The empirical part of the study led ultimately to the realisation that investment in shares is hard work and that the successful investors are those that can apply the tools of the trade in a disciplined fashion. My wish is that the "new analysis model" proposed in this dissertation, can be a useful tool in the toolkit of the private shares investor.