Os filtros de value investing por Graham na análise de uma carteira recomendada
Nenhuma Miniatura disponível
Data
2021-12-03
Tipo de documento
Relatório de estágio
Título da Revista
ISSN da Revista
Título de Volume
Área do conhecimento
Ciências Sociais Aplicadas
Modalidade de acesso
Acesso aberto
Editora
Autores
Lourenço, Guilherme de Souza
Orientador
Roecker, Rejane
Coorientador
Resumo
O estudo acadêmico que segue está situado no âmbito das finanças, e buscou demonstrar a utilização de critérios de seleção de ações para investimento. Para tal, foram utilizados os filtros desenvolvidos por Benjamin Graham (2017) para o perfil denominado pelo autor como “investidor defensivo”. Foram cinco empresas analisadas, que tiveram suas ações sugeridas na carteira recomendada mensal da corretora ModalMais em abril de 2020. As ações e empresas em questão são: PETR4, da Petrobras, PSSA3, da Porto Seguro, GGBR4, da Gerdau, ITUB4, do Itaú, e VALE3, da Vale. Quanto à metodologia, a pesquisa é descritiva e de natureza aplicada, de abordagem predominantemente quantitativa, mas também qualitativa, e os procedimentos técnicos utilizados foram de pesquisas bibliográfica e documental. A pesquisa atingiu o objetivo de demonstrar a utilização dos filtros sem maiores problemas, no entanto, esses resultados apontaram que nenhuma das cinco empresas foi considerada aprovada em todos os critérios, mesmo se tratando de algumas das maiores empresas brasileiras. Isso nos leva à principal conclusão acerca da pesquisa, que é a de que os filtros aparentam ser demasiadamente rígidos para a realidade das empresas brasileiras, já que foram desenvolvidos com a realidade empresarial estadunidense em mente, com sua economia muito mais pujante. Além disso, há amplo espaço para mais estudos sobre a utilização dos filtros no Brasil, como já notado por outros autores previamente.
The following academic study is situated within the scope of finances, and it sought to demonstrate the utilization of criteria for the selection of stocks for investment. For such, the filters developed by Benjamin Graham (2017) aimed at the personality denominated by the author as “defensive investor” were utilized. Five companies were analyzed, such companies had their stock recommended by broker ModalMais in their monthly recommended portfolio in April, 2020. The stocks and their respective companies in question are: PETR4, from Petrobras, PSSA3, from Porto Seguro, GGBR4, from Gerdau, ITUB4, from Itaú, and VALE3, from Vale. Regarding the methodology, the research is of descriptive nature, utilizing predominantly a quantitative approach, but also qualitative, and the technical procedures utilized were documental and bibliographical research. The research achieved its goal of demonstrating the utilization of the filters without any major issues, however, the results show that none of the five companies was deemed approved by all filters, even though such companies are some of the largest in Brazil. That ties into the main conclusion regarding the research, that is that the filters appear to be exceedingly rigid for the reality of Brazilian companies, as the filters were developed with the reality of American companies in mind, with a much more robust economy. Furthermore, there is ample room for more research to be carried out regarding the utilization of the filters in Brazil, as noted previously by other authors.
The following academic study is situated within the scope of finances, and it sought to demonstrate the utilization of criteria for the selection of stocks for investment. For such, the filters developed by Benjamin Graham (2017) aimed at the personality denominated by the author as “defensive investor” were utilized. Five companies were analyzed, such companies had their stock recommended by broker ModalMais in their monthly recommended portfolio in April, 2020. The stocks and their respective companies in question are: PETR4, from Petrobras, PSSA3, from Porto Seguro, GGBR4, from Gerdau, ITUB4, from Itaú, and VALE3, from Vale. Regarding the methodology, the research is of descriptive nature, utilizing predominantly a quantitative approach, but also qualitative, and the technical procedures utilized were documental and bibliographical research. The research achieved its goal of demonstrating the utilization of the filters without any major issues, however, the results show that none of the five companies was deemed approved by all filters, even though such companies are some of the largest in Brazil. That ties into the main conclusion regarding the research, that is that the filters appear to be exceedingly rigid for the reality of Brazilian companies, as the filters were developed with the reality of American companies in mind, with a much more robust economy. Furthermore, there is ample room for more research to be carried out regarding the utilization of the filters in Brazil, as noted previously by other authors.
Palavras-chave
Finanças, Mercado de ações, Investimentos