{"id":267,"date":"2021-11-23T17:00:00","date_gmt":"2021-11-23T10:00:00","guid":{"rendered":"https:\/\/www.nanovest.io/blog\/?p=267"},"modified":"2023-02-03T10:49:35","modified_gmt":"2023-02-03T03:49:35","slug":"apa-itu-value-investor","status":"publish","type":"post","link":"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/","title":{"rendered":"Belajar tentang Value Investor, Yuk!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Warren Buffett adalah salah satu investor sukses di bursa saham Amerika Serikat. Salah satu rahasia kesuksesannya adalah berinvestasi berdasarkan nilai (<em>value investing<\/em>). Itu sebab, Buffett disebut sebagai <em>value investor<\/em>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sebelum membedah apa itu <em>value investor<\/em>, kamu perlu memahami apa itu <em>value investing<\/em> dalam investasi saham. Pengertian <em>value investing<\/em> adalah metode untuk membeli saham di bawah harga wajarnya atau sering disebut dengan saham yang <em>undervalue<\/em>, untuk kemudian dijual di harga wajarnya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Membahas <em>value investing<\/em> tidak bisa terlepas dari sosok Ben Graham dan David Dodd. Paradigma investasi yang berasal dari ide-ide investasi duo cerdas ini mulai diajarkan di Columbia Business School pada 1928. Kemudian pada 1934 melalui buku mereka, <em>Security Analysis<\/em>, ide mengenai <em>value investing<\/em> dikembangkan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strategi <em>value investing<\/em> cocok bagi investor yang punya tingkat kesabaran tinggi karena keuntungan maksimal justru diperoleh saat saham dijual beberapa tahun kemudian. Bagi kamu yang mau coba berinvestasi saham di Amerika Serikat dan mencontek cara Buffett sebagai <em>value investor<\/em>, simak ulasan berikut ini.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Daftar Isi <\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#Cara_menjadi_value_investor_pahami_nilai_intrinsik\" >Cara menjadi value investor: pahami nilai intrinsik<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#1_Price-to-book_PB\" >1. Price-to-book (P\/B)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#2_Free_cash_flow\" >2. Free cash flow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#3_Price-to-earning_PE\" >3. Price-to-earning (P\/E)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#Teori_terkait_value_investing\" >Teori terkait value investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#Contoh_strategi_value_investing\" >Contoh strategi value investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#Hal_yang_perlu_diperhatikan_value_investor\" >Hal yang perlu diperhatikan value investor<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#1_Riset\" >1. Riset<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#2_Diversifikasi_investasi\" >2. Diversifikasi investasi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#3_Pantau_tren\" >3. Pantau tren<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#4_Fokus_pada_konsistensi\" >4. Fokus pada konsistensi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.nanovest.io/blog\/tips-dan-tutorial\/apa-itu-value-investor-267\/#5_Analisis_fundamental_perusahaan\" >5. Analisis fundamental perusahaan<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cara_menjadi_value_investor_pahami_nilai_intrinsik\"><\/span><strong>Cara menjadi <em>value investor<\/em>: pahami nilai intrinsik<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.nanovest.io/blog\/wp-content\/uploads\/2021\/11\/Value-Investor.jpg\" alt=\"\" class=\"wp-image-318\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Penilaian saham oleh <em>value investor<\/em> dilakukan dengan perhitungan cermat. Ada berbagai faktor yang menjadi pertimbangan, termasuk di antaranya adalah performa finansial, penghasilan, <em>cash flow<\/em>, <em>brand<\/em> perusahaan, keunggulan produk, dan lain sebagainya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Selain beberapa hal di atas, nilai intrinsik perusahaan perlu diketahui. Seorang <em>value investor<\/em> menggunakan beberapa jenis metrik dalam mengetahui nilai intrinsik, yaitu:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Price-to-book_PB\"><\/span><strong>1. Price-to-book (P\/B)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dalam Bahasa Indonesia, istilah ini disebut nilai buku. Rasio ini memperlihatkan perbandingan antara aset perusahaan dengan harga saham.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Saham dapat dikategorikan <em>undervalued<\/em> ketika harganya mempunyai nilai lebih rendah dibandingkan aset perusahaan. Hanya saja, penilaian <em>undervalued<\/em> tersebut juga harus disertai dengan kondisi kesehatan finansial perusahaan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Free_cash_flow\"><\/span><strong>2. Free cash flow<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Metrik kedua adalah <em>free cash flow<\/em> perusahaan. Metrik ini menunjukkan kepada kita jumlah uang tunai yang dimiliki perusahaan. Namun, uang tunai dalam kategori ini adalah nilai bersih setelah membayar atau melunasi berbagai jenis biaya.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Price-to-earning_PE\"><\/span><strong>3. Price-to-earning (P\/E)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Parameter yang terakhir adalah P\/E. Metrik ini memberikan pengetahuan kepada kita terkait pendapatan perusahaan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Suatu saham bisa dikategorikan <em>undervalued<\/em> ketika harganya tidak memiliki kesesuaian dengan pendapatan perusahaan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Teori_terkait_value_investing\"><\/span><strong>Teori terkait <\/strong><strong><em>value investing<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Pada penjelasan terkait tiga metrik <em>value investing<\/em>, ada beberapa hal yang mendasari fenomena value investing terjadi. Salah satunya Teori Market Efficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Teori Efisiensi Pasar menyebutkan bahwa apabila harga suatu saham sudah mahal maka akan mengalami koreksi. Begitu juga sebaliknya. Teori ini memiliki pendukung dan juga sekaligus pihak yang kontra.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Robert J Shiller, peraih nobel ekonomi termasuk yang kontra terhadap teori tersebut. Menurutnya, <em>market<\/em> dalam arti luas tidak pernah efisien karena kumpulan berbagai psikologi pelaku pasar dan cerminan isu serta rumor yang tidak terdistribusi secara merata.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meskipun begitu, masih ada kemungkinan bahwa di level terendahnya \u2014untuk setiap saham yang diperdagangkan di bursa\u2014 fenomena pasar yang efisien bisa terwujud. Namun, tentu dengan derajat (<em>degree<\/em>) yang berbeda-beda.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Terlepas dari itu semua, kita tidak bisa mengelak bahwa kenaikan atau penurunan harga suatu saham tidak bisa berdiri sendiri. DI balik fluktuasi harga saham, ada <em>market appetite<\/em> yang berisi kumpulan sentimen, keberadaan <em>market maker<\/em> (bandar) hingga jangka waktu (<em>time frame<\/em>) yang digunakan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contoh_strategi_value_investing\"><\/span><strong>Contoh strategi <\/strong><strong><em>value investing<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Untuk mengetahui terkait strategi value investing yang bisa kamu terapkan di bursa saham global seperti Amerika Serikat, berikut kita buat simulasi dan contohnya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Misalkan ada dua emiten yang bergerak di sektor industri yang sama, sebut saja A dan B. Untuk simplifikasi, asumsikan total saham <em>outstanding<\/em> A dan B sama yaitu 1 miliar lembar. Modal (ekuitas) keduanya yang tercatat di neraca (<em>balance sheet<\/em>) pada periode tertentu juga sama yaitu Rp1 triliun.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Artinya, nilai buku saham per lembar (<em>Book Value per Share<\/em>\/BVPS) perusahaan A dan B adalah Rp1.000\/lembar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jika di pasar saham A dihargai Rp1.500\/lembar sementara harga saham B dipatok di Rp500\/lembar, maka bisa dikatakan saham A ditransaksikan secara premium 50 persen relatif terhadap valuasinya sementara saham B terdiskon 50 persen terhadap valuasinya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Berdasarkan indikator valuasi PBV, strategi <em>value investing<\/em> merekomendasikan kepada investor untuk membeli saham B dengan harapan kesalahan harga tersebut akan dikoreksi oleh pasar, sehingga saham A akan mengalami penurunan, dan saham B sebaliknya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tapi, pada kenyataannya tidak selalu demikian. Saham bervaluasi murah belum tentu mengalami kenaikan. Sebagai contoh di Amerika Serikat, saham-saham yang memiliki valuasi rendah kenaikan harganya cenderung terbatas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hal_yang_perlu_diperhatikan_value_investor\"><\/span><strong>Hal yang perlu diperhatikan <em>value investor<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.nanovest.io/blog\/wp-content\/uploads\/2021\/11\/Value-Investing.jpg\" alt=\"\" class=\"wp-image-319\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Selain hal yang telah disebutkan di atas, meniru Buffett juga membutuhkan perhatian akan hal-hal berikut ini:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Riset\"><\/span><strong>1. Riset<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dalam praktik investasi apapun, riset merupakan sebuah kewajiban. Tujuannya, agar kamu terhindar dari risiko kerugian.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Di samping memantau parameter metrik nilai intrinsik saham, kamu juga dapat mempertimbangkan beberapa info pendukung lain. Beberapa data yang dapat kamu manfaatkan di antaranya adalah struktur keuangan, rencana jangka panjang perusahaan, jajaran manajemen, serta prinsip bisnis.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Diversifikasi_investasi\"><\/span><strong>2. Diversifikasi investasi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dalam <em>value investing<\/em>, kamu juga harus memperhatikan diversifikasi. Upaya diversifikasi merupakan tindakan preventif dalam meminimalkan risiko kerugian.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Diversifikasi dapat kamu lakukan dengan membeli jenis saham yang berbeda. Selain itu, ada pula pula pilihan diversifikasi menggunakan instrumen investasi lain seperti kripto atau investasi yang lebih minim risikonya.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Pantau_tren\"><\/span><strong>3. Pantau tren<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Dalam strategi ini, kamu sebagai investor juga perlu memantau tren yang terjadi di masyarakat. Pilihan berinvestasi pada sektor yang tengah tren memberi peluang keuntungan yang lebih besar dalam jangka pendek.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Fokus_pada_konsistensi\"><\/span><strong>4. Fokus pada konsistensi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Value investor<\/em> memiliki kecenderungan untuk memperoleh keuntungan dalam jangka panjang. Itu sebab, kamu perlu mengedepankan pilihan pada jenis saham yang memiliki harga konsisten dan mempunyai risiko rendah.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Analisis_fundamental_perusahaan\"><\/span><strong>5. Analisis fundamental perusahaan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Terakhir, apalagi kalau bukan analisis fundamental saham. Dalam investasi jangka panjang, fundamental perusahaan harus jadi perhatian utama kamu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Langkah ini dapat kamu lakukan dengan memperhatikan laporan keuangan terbaru perusahaan secara menyeluruh. Dari laporan tersebut, beberapa informasi penting seperti liabilitas dan ekuitas, arus kas, laba rugi, dan semacamnya bisa membantu kamu dalam menilai kesehatan perusahaan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Demikian ulasan mengenai value investor yang menerapkan value investing seperti Warren Buffett. Jika kamu tertarik masuk pasar saham Amerika Serikat, manfaatkan Nanovest.io yang menawarkan kemudahan <em>trading<\/em> saham global. Selamat berinvestasi!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett adalah salah satu investor sukses di bursa saham Amerika Serikat. Salah satu rahasia kesuksesannya adalah berinvestasi berdasarkan nilai (value investing). Itu sebab, Buffett disebut sebagai value investor. Sebelum membedah apa itu value investor, kamu perlu memahami apa itu value investing dalam investasi saham. Pengertian value investing adalah metode untuk membeli saham di bawah<\/p>\n","protected":false},"author":1,"featured_media":268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[4,5],"class_list":["post-267","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tips-dan-tutorial","tag-english","tag-indonesia"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Warren Buffett adalah salah satu investor sukses di bursa saham Amerika Serikat. Salah satu rahasia kesuksesannya adalah berinvestasi berdasarkan nilai (value investing). Itu sebab, Buffett disebut sebagai value investor. Sebelum membedah apa itu value investor, kamu perlu memahami apa itu value investing dalam investasi saham. 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