<ֹ > | ϽϽ
Ż Ϻ üǾϴ. (21.1.4)
ŸϿ ٽ ٿε ø ֽϴ.
Ƽ, JP ̱ ֽ Ʃ ֹΡ ù å!̱ ֽ á繫ǥ м!ѱ ǥ õ! å б ̱ ֽĽ忡 پ ! ŷڵ 1 ̱ ֽ м ǿ, Ʃ ֹΡ ϴ ⺻!IT, Һ, , ֽĵ ִ м ! ̱ ֽ ̷ ڼϰ ˷ ʾҴ! Ʈ̴ ̱ ̱ ֽ ܱ Ӽ !2020 ̱ ֽĽ ߸ ѷڽ ÿ. 3 19 ҵ 11 24Ͽ ᱹ ٿ ó 3 ߴ. ̱ ֽĽ忡 ū ȸ ñ ̴. 庮 ý ѱ ڵ ̰ ϴ ̴. ̶ ̱ ڵ õϴ Ʃ ִ. Ƽ , JP ۷ι ݵ, ݵ带 ġ ֽĽ ߽ ġ Ʈ̵ ؿ Ʃ ֹΡ̴. 忡 ؿ ̱ ֽڿ پ ˾ƾ ⺻ ˷ִ ؿ Ŀ´Ƽ Լҹ 8 ڼ 51 ȸ 245 ȸ ߴ.ֹ ¥ ̱ ֽڡ ߿ ߿ 븸 å Ҵ. ̱ ô ѱ ڵ鿡Ե ߰ſ ް ִ IT, Һ, , ȣ, , ͺ, ֽĵ鿡 ִ м ̸ ڿ Ȱϱ ܺ ÿ 繫ǥ м ˷ش. Ƹ ʸ ġ , پ ڻ Ȱ Ʈ Ͽ鵵 ϴ. λƮ å ̱ ֽ Թڴ پ ̱ ǰ ̱ ں ڿ Ȱϰ ϴ ؿ ڵ鿡Ե ū ̴.
ƮƮ Ʈ̴ ڰ ѱ ڿ ̱ ֽ õϴ . 10 Ŀ ̱, , Ϻ, ȫ ں η ߴ ڰ ̱ ֽĽ常ŭ ģȭ ʱ ̰, ٸ ϳ ڿ ̱ ̴.
ڴ ƴ ߾ ⺻ Ҿ ô밡 Դٰ Ѵ. İ Ģ, Ʈ̵ ū ٸ ̱ ֽ ѱ ڵ ϴ ְ ;. ȭ ϸ ֹΡ̶ Ʃ ä . ں ̴ ݵ忡 ϸ鼭 ö ڵ鿡 ִ Ͽ Ǿٴ ״, 8 ڵ ϸ ִ.
ڷ , ǹ ؼ ִ ڸ λƮ ̱ ֽĽ忡 ִ ִ ѱ ڵ鿡 ߰ſ ȣ . ؿ Ŀ´Ƽ Լҹ 51 ȸ 245 ȸ ߴ.
ڴ б ϰ ̺ ϴ Ǻ̴Ͼƴб , ϴб Ҵ. Ų 濵 Ʈ ȸȰ JP ǰ Ƽ μպ(M&A)μ Ŀ ϸ ڸ Ұ, ε ݵ带 ռ (Equity Long/Short) ϴ ݵ ϸ Ʈ̴μ Ŀ ƿԴ. ų , ǽĸ 10 ƮƮ 湮ϸ м 繫 Ǹ ؿ ִ.
å ̱ ֽĿ ϱ ˾ƾ ⺻ ̱ ؼ, ͺ 繫ǥ м, IPO M&A Ȱ ְ帧 д ڶ ߴ ӿ ȸ ã Ű Ͽ츦 ִ. å ѱ ڵ ̱ ֽĽ ϰ ̳ ÷ ۾ ʴ ã ٶ.
ѷα | ̱ ֽΰ?1 · ̱ ֽĽ忡 پ 01 ο ϴ ̱ ֽĽ ÷̾: ̱ ֽĽ ̵̻ ̵ SEC | ÷̾ ذ | ̱ ֽ Թڰ ͼ , IR Ʈ 02 ̱ ֽ õ : ̱ ںǰ ǿ IR ȭ̱ IR Ȱ Ű | Ư ˰ 03 ̱ ϴ°: ̱ ý̱ ڴ ұ | ð νϸ ¡Ѵ 04 簡 ġ ٴ Ģ: ̼ ʿ伺ġڴ ° | ã 05 밡 ġڸ ߳: ġ ǹġڶ ù | ġ ⺻ Ģ2 ̱ ֽ 06 ū 30%̶?: ǥ ϴ ڼ̶ | ũ ϴ 07 ڰ : ġ vs. ֿ ġ ϱ | 䳢 ÿ 08 ֽ, Ⱦƾ ұ: ֽ ġ ϱ ֽİ ֽ | ְ ƴ ġ | ŷǰ ִ ġ ŷǾ ġ 09 PER , PER ڿ ǹ: PER ϴ PER ѷ | P/E ֽĿ ǥ, PEG | P/E Ѱ踦 ϴ PEG Ѱ10 Ȥ ġ : ͷ ġ , ģΰ ΰ | 11 常轺 JP ǰ Ͼ ɱ: ֳθƮ Ʈ д ֳθƮ Ʈ ƾ ұ | ְ ѱ ٻ ǥ ְ | ֳθƮ ǥ ְ ߿ | ̼ǰ 尡 ǹ12 ū ٷ ڽ: Ģ Ųٴ ټ Ģ | Ģ 3 ʷ ̱ 13 IPO Ѵ: S-1, S-11IPO ڸ 븰ٸ? | S-1 ã | IPO ÿ ϴ 14 ˷ִ : 10-K, ִ Ʈ ִ | 10-K Ȯؾ 15 ְ ϴ : 10-Q б⺰ ڷ ϴ ڼ | ڷ Ȯϴ | ְ ᱹ Ѵ16 ְ ⼺ , ƮƮ ο: ֳθƮ ̷ д ְ ̴ ٸ | ֳθƮ Ȯϴ 17 ݵ Ʈ̴ Ϸ18 ˶ð: 8-K Ȯϴ | ̱ Ļ | Ļ û Ͼ | ' û ٺ ̷' ǻ | ø ϴ 19 , ȸ ñϴٸ?: DEF-14A(proxy) 濵 ڼ ˰ ʹٸ | 20 5% ڿ ǹ: 13D, 13G 뷮 ϴ | 21 ̴ ݵ带 ڿ Ȱϴ : 13Fڻ Ȳ ˰ ʹٸ? | ø ̹ ŵ ִ22 ֽ ŷ : Form 3, 4, 5̱ ÿ ī | ڰ ֽ Ȱų ٸ?23 M&A ߸ Ȯؾ : ̼, DEFM-14Aְ ġ | M&A Ŀ ȸ ִ | μ ִ ֳ | μ μ ϱ ? | M&A , S-4 24 ̱ ֽĽ ٸ ȣ, : Form 10-12B M&Aŭ ȣΰ | ֽ ġ â 25 ȫ ӿ Ӿ Ҿ : ȸ ִٴ ƴ ִ4 ƴ ŭ ̴ 繫ǥ, ̴ ŭ Ŀ ڼ26 繫ǥ ȴٴ : ͺ 繫ǥ бڸ ƶ 27 ̱ Ȱ : Һ ϴ ǰ | Ʈ | ۸ ü, ٹƮ ũΰ 繫 | ִ ߿ 28 ʹ ʴ´? 췮: ITS&P500 ϴ IT 췮ֵ | 2000 IT ٸ | 繫ǥ | ٰȭ ̷ ̼ | 1ܰ: ι Ͱ꼭 | 2ܰ: Ѻä 帧 | 3ܰ: ι ġ ϱ | 4ܰ: SOTP ̼, ְ ϱ29 濵 и ̱ ۷ι ȣ : ȣȣ ȣ | ȣ 귣 | ħü ũ ұ30 ε ֽ ϰ ´?: ְ Ǵ ÿ ǹְ ȴ | Ǵ° | ֿ ߿ϰ | ε Ưȭ ǥ5 ̱ ֽ Ư Ȳ üũƮ31 M&A Ѵٸ?: M&A ְ 1 ְ ? | Ÿ Ų ̺ | M&A Ÿ ֽ ŵ Ÿ̹? | Ϸħ Ȳ ٲٸ? | M&A ߿伺32 ٴ ̱ IPO ֽ: ֿ ϴ Ȳ α⸦ ڶϴ ̱ IPO | IPO ˷ִ Ʈ | ڰ IPO ָ | ũ ū 33 Ǻ: IPO ũIPO μ | ð Ȯ | IPO ֽĵ ŵ Ÿ ɱ? | ū IPO 12谡 ̽34 ϴ ֽ ִٰ?: ֿ IPO | ѿ ũ | ƮƮ ں α 35 ѱ ʽ: Ʈ ȿƮ, ˾ƾ ̴ ʽ | Ʈ شȭϴ | ִ ŷ л ȿ36 ̱ ֽĺ ؿ : ֽĺ ְ ġ ū ߶ Ĵ | ֽĺ ǥ 50% پ | ֽĺ ʴ | ֽĺ ٿ ġ 37 , ϴ : ģȭ ϱ | 缺 Ϸ 繫ǥ ұ38 ȣ簡 ־µ ְ ʾ: ڽɸ д ̹ ְ ݿ ȣ | ְ ʴ´6 ð Ʈ 39 ͷ ¿ϴ ƴ ũ : Ʈ ⺻, ũ | ũ 40 Ŭ ڻ: ̱ äð ä ϱ | ݸ ϸ 帧 | Ȳ ̱ ä ETF | ݸ ô, ä ڰ ǹ̰ ?41 嵵 ÷̼ǵ ִ?: ͵ ʴ ֽ | ʼҺ ETF ȿ42 Ȳ ְ : ŷ , ұ | Ʈ ε ְ ʹٸ, ETF43 dzó ϱ: ݰ dzó ݺ | ݿ ؾ ΰ44 ϶ ġƮŰ ƴϴ: ɼ ETFɼ ETF ⺻ Ŀ | ɼ ETF ϰ Ȱϴ 45 帧 ȭ Ʈ : Ʈ 뷱 ̼ǿ Ʈ | ༼ ϴ Ʈη 1. ̱ ֽ Ķη 2. ̱ ֽ Ʈ