买推特 勿匆忙 (1/2)
概述：推特首次公开募股，是否应当强势买进？它果真那么值钱吗？是交易还是投资？hints:
IPO
$23 to $25
$14 billion
Professor Aswath Damodaran
Stern School of Business
VOA
Skype
Linked-in
Damodaran
校对：candy0228
翻译&注解：金帛w
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答疑：淘淘啦
点评：百万分之一
口语节目地址：http://bulo.hujiang.com/menu/11921/item/844202/
http://t1.g.hjfile.cn/listen/201311/201311100522424951545.mp3It's the biggest technology IPO since Facebook. And if all goes as planned, Twitter could sell as many as 80 million shares priced between $23 to $25. That would generate about $2 billion, giving Twitter a market value of $14 billion. But is it really worth it?
Professor Aswath Damodaran at the Stern School of Business in New York says the numbers are just a starting point, based on what bankers think investors are willing to pay.
He spoke with VOA via Skype.
"They're pricing Twitter based on what Facebook is trading for, and Linked-in is trading for. They're not valuing the company. To value the company you've got to go back to basics: now what are the revenues, what are the margins, what are the profits? I personally think from a valuation perspective that 23 to 25 is too high."
Damodaran says that doesn't mean investors won't make money. But unless you're willing to monitor stock prices daily, he advises amateur investors to stay away.
"I'd say wait for Twitter to settle down. The first year or two after a company goes public, it's really going to go through waves of momentum that are very difficult to forecast. So I think investors, you have to make a decision as to whether you're a trader or an investor."推特是继脸书之后最大的首次公开募股的技术类公司。如果一切按计划的发展，推特能以23-25美元的价格，差不多卖出8千万股，这将产生20亿美元总值，使推特的市值达到140亿美元，但是推特真的值这么多钱吗？
纽约斯特恩商学院教授阿斯沃斯.达莫达兰表示，这些数字只是一个起始点，该起始点是基于银行家们认为投资者所愿意付出的价格的基础上。
他在接受VOA采访时说：“他们是按照脸书和邻客音的交易价格来为推特定价的。他们并没有评估推特公司。想要评估这家公司，我们必须回归到以下几个要素中：公司的收入、利润和收益。我个人认为，从估值的角度，23-25美元的价格太高了。”
达莫达兰说这并不意味着投资者赚不到钱。但是他建议，除非业余投资人愿意每天都盯着股价，否则还是应该持观望态度。
“我建议，还是等推特稳定下来再说。一个公司上市后的一到两年都会经历一些难以预料的波动，所以你得拿定主意，是做一名交易人还是一名投资人。”
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