GUIA BÁSICO PRA INVESTIR EM AÇÕES: TUDO que você PRECISA SABER antes de investir em AÇÕES!

Cousins, this video is key here on Primo's channel, especially now that so many people are entering the stock market. We have almost three million investors, CPFs, and this is a strong, new movement with no turning back. That's why we need to clarify the stock market in the right way.

So I'm not going to talk here about how to analyze a stock in depth. What I'm going to do here is give you the introduction that everyone needs to watch and have as a basis before you actually start investing your money in shares. And if you already invest, you'll also benefit from this video, because there's a lot of content, we've prepared a line of reasoning that works and will add value to anyone, ok?

So stay with me in the video until the end. This video will be divided into a few important parts. First, we'll talk about what shares are, then about the types of market, the primary market and the secondary market.

Then we're going to talk about the security of investing in shares, how it works, what it guarantees, what it doesn't guarantee, what types of shares there are. We'll talk about dividend yields and we'll talk about some special cases. And in between, we'll also talk about the nomenclature of shares.

So stay with me until the end, as this is an anchor video for you. But before we start, I had to ask you to click on the like button, it's really important. So give it a like there, it helps the video reach many more people.

Especially because let me explain something that has nothing to do with the content right now. There are a lot of people entering the financial market and they search YouTube for videos that can help them understand the basics. And this is a quality video.

If you like this video, these people, when they go to YouTube looking for this content, will find this video, which was made with a lot of care, with a script, with a team, with editing, with production. So enjoy this video, it's going to help a lot of people so that this message gets through, especially to novice investors. First, the most basic thing of all.

What is a stock? Let's go. All companies have shares.

The difference is that there are companies that have shares that are traded on the market, on the Stock Exchange, and there are companies that have shares that are not traded. It's usually that company owned by the guy who sells hot dogs, the girl who owns the beauty salon. It's a company that doesn't have shares traded on the stock exchange.

But all companies have shares. Why do companies have shares traded on the stock exchange? Because these companies basically gain four things.

Firstly, they gain capital, because they exchange their shares for money, so they gain capital. They gain visibility, because the shares are being traded on the stock exchange and many people know about these companies who had never heard of them before. They gain market value, so there's more liquidity, there's more interest, so their price tends to increase, if the company is good.

This is good for the company, its value increases. And it also increases its attractiveness to investors, because it becomes more liquid, there are more people who get to know the company, there are people who have money and they need to make decisions, but they can't look at all the possibilities they have. Then there are some that jump out at them, which increases the attractiveness of investors.

It's much easier to invest in an oil company, or a technology company, or a mining company, or a huge bank, than it is to invest in a hot dog company, because all you have to do is go there and buy a share. And it's also much more accessible, with very little money, with R$thirty, R$one hundred, you can invest in shares. So what is a share?

In addition to everything I've said, a share is a small part of the company. So imagine we have Primo Rico here. Primo Rico is a company.

Why is it a company? Because it has employees, because it makes a profit, because we create products, we have services, we have all our figures, we have a bank account, we have it all. We invest our capital, we remunerate our capital, so this is a company.

But Primo has several shares and we have shareholders here at Primo. But the smallest possible fraction that can be traded here at Primo is a single share. So a share is a small piece of a company, whether it's a hot dog company, a mining company or a larger company.

But when you buy a share, you become a partner in a company. You begin, for example, to participate in the distribution of the profit that company makes. The Stock Exchange has a mechanism that protects you in case the company goes bankrupt, so you don't have to worry about that.

You'll lose your invested capital, but you won't have to make any contributions, for example. You don't have any legal responsibility if the executive makes a mistake, as a minority shareholder. So when you buy a share, you have rights, especially over the distribution of profits.

And that's why people invest, most of the time, in a company, because I believe that it will grow, that it will develop, that it will increase its profits and distribute to me what I have in proportion. So if this company has a hundred shares traded on the market and I have ten shares and it distributes a profit of R$one hundred to its shareholders, I will receive the equivalent of R$twenty, because I own twenty percent of the company. So having one share is more or less like that.

But here we have a second important point to talk about, which is the two markets in which we trade shares. Why is that? Because when I buy and sell a share, many people ask how it impacts the company.

And often it doesn't impact the company. So you need to understand that there is a primary market and a secondary market. The primary market is as follows: we have a hot dog company.

And this hot dog company is not listed on the stock exchange, it's just a hot dog company. But when it goes public, it goes public through a mechanism called an IPO, which is Initial Public Offer. So it's going to make an initial public offering of its shares.

This company is worth one million reais and has one million shares. So each of its shares is traded at R$one real. It's going to make a public offering of twenty percent of its capital.

So it's going to make a public offering of two hundred thousand shares at more or less R$one real. So investors will buy these two hundred thousand shares for R$one each. And now Hot Dog's capital will be eighty percent owned by one owner, or a few shareholders, and twenty percent by the market.

So when it went on the market for the first time, and this is the primary market, what happened was that money that was here in the hands of investors ended up in the company's pocket. And two hundred thousand shares that were in the shareholders' pockets came to these other shareholders, the investors who are now partners in this company. This is the primary market.

When this happens, there is this direct exchange with the company. And sometimes later on, the company can also do what we call a follow on, which is to sell more of its own capital, or make new offers, issuing new shares to these investors. This is the primary market.

And why does the company do this? For various reasons, whether it's because the shareholder wants to make money, but generally it's because the shareholder wants to borrow funds so that they can invest and grow. To invest in more hot dog stands, to invest so that it can grow as a business.

So that's why they usually borrow capital from the market. What's more, he has shareholders and partners, often strategic ones, large partners, not just tiny, minority partners. Sometimes relevant partners come in who can have an impact on the business.

Everything I've just said is the primary market. But when I buy and sell a share on the Stock Exchange, at Bthree, I'm talking about the secondary market. And when I'm talking about the secondary market, I don't inject capital into the company's cash.

It's usually me, then there's Kaique here. Kaique has hot dog shares and I want to invest in this company. Kaique doesn't want to anymore.

Sometimes he's already made a lot of money or doesn't think it has much potential. So I'm going to buy shares and Kaique is going to sell shares. So we're going to negotiate.

The only thing that's changed is that instead of Kaique having the shares, I now have the shares. What has changed for the company? No capital has gone onto the company's stock exchange, but that's a good thing.

Why is it good? Because this liquidity, this rapid and daily exchange of capital, helps the investors who took part in the IPO to believe that it makes sense for me to finance the company's growth by becoming a partner in the company, because I know that in the future, if I wanted to leave, I would have liquidity. So Kaique has liquidity, which is why he was able to sell.

He needed money, he sold. I wanted to invest, so I bought. So the secondary market is important because it provides liquidity so that people feel comfortable investing in a share, in an IPO or a follow on.

So that's what the secondary market is. No money goes into the company's cash, unless it decides to sell its own shares that it bought in its treasury on the market. But that's another case.

How do I make money from shares? There are two main ways. Dividends and capital appreciation.

What is capital appreciation? If that hot dog company that was trading at R$one grew by one hundred percent, it's now worth R$two. So if I had a thousand shares at R$one, I had R$one,zero.

So, as each share is now worth R$two, I have R$two,zero. So this is capital appreciation. I haven't necessarily made any money because I haven't sold my shares yet.

So I don't have to pay tax on it, nothing like that. But my equity has increased in size. So this is a very common way of making money on the market, because the equity grows and it's like real estate.

You invest in the property and it increases in value over time. You haven't sold it, but you have a bigger asset. This is capital appreciation.

The other way of making money is when that company makes a profit, because it sold a lot of hot dogs, because the market was booming, it paid all the employees, all the costs, there was money left over. The CEO of that company, together with the board and management, will decide to distribute profits. And who are they going to distribute profits to?

Only to the shareholders. Profits come after bonuses, PLR and all that. So they will distribute this profit to the shareholders.

If I have a percentage of shares here, I will receive it. So if you have shares, you'll get them too. This is what we call dividends or profits.

Proceeds represent various special attributions here. So within dividends we have dividends, interest on equity and a few other things. But these are the two main ones.

They are ways in which the company distributes part of its profits to its shareholders. So when I buy a company, like Coca-Cola, I'm betting that it will grow and that it will distribute its profits to its shareholders. And I want it to make a big profit, because the bigger the profit, the more I get.

That's the dynamic. Before I show you that we actually make more money on preferred shares, you need to understand a concept, which is the concept of dividend yield. It's very important to understand this so you can see how you can make money from dividends.

What is dividend yield? It's the dividend the company pays you in relation to the share price. So imagine, you have a company trading at R$one,zero.

This company has a thousand shares, each share costs R$one. And then, that company had a profit per share equivalent to R$ fifty cents, right? But it's going to distribute of that profit per share, fifty percent of that.

Fifty percent of that is what we call the payout. How much is the payout? Fifty percent.

So it will distribute fifty percent of fifty cents, which will give twenty-five cents per share. So, if I have a share that costs R$one and I will receive twenty-five cents per share, I will receive a dividend yield of twenty-five percent, which would be a dividend yield of zero point twenty-five over R$one, which will give twenty-five percent. That's the dividend yield.

So, generally, the higher the better. Of course, you need to make sure there's nothing recurring, that there isn't some risk you're not seeing. What I've learned over time is that a very high dividend yield represents some kind of trick you're not understanding yet.

But sometimes it can just be something in my head. So that's the dividend yield. The higher, the better.

I've put together a list of preferred and ordinary shares so you can see how this works in practice. So, take Bradesco here. Bradesco, its P&N shares, distributed more or less eight point twenty-eight percent at today's dividend yield price.

This means that for every R$one hundred, you would earn R$eight. twenty-seven at today's price in the same scenario. Now, in the O&N shares, you would receive eight point zero seven.

So you get a little less. In the long term, it ends up being a significant difference. If you look at Itaúsa, the PN give five point sixty-one, against ON, which give four point seventy.

If you look at Petrobras, we're talking about two point seventy against one point eighty-six. So this difference is significant and, in the long term, it makes a big difference. But, of course, it needs to be seen on a case-by-case basis, because even though preferred shares pay more, sometimes O&N shares are so cheap that the Dividend Yield, as one of its components is the price, ends up being more attractive with an O&N share than a P&N share.

Now, what about security? How does security in shares work? Well, there is a body that regulates the entire brokerage and investment market, which is the CVM, the Securities and Exchange Commission.

In other words, it looks after securities. So the whole market is regulated by the CVM. When there's an irregularity, it's the CVM that usually solves it, that intervenes, that studies to see if it makes sense, if it doesn't, if there's been some kind of screw-up.

But when you buy shares, you buy shares through B Three, don't you? But actually, imagine that B Three, which is the stock exchange, is a trading environment. So you imagine that B Three is the fair.

So, you go to the market to buy and sell. I want to buy so many shares, I want to sell so many shares. This is the fair, it's the trading environment.

But you can never go to the market. Imagine that you always have to have someone representing you there. This is the custodian agent.

So, when you open an account with Rico, which is the broker I invest with, or any other broker, this is your custodian. So when I place an order to buy shares at B Three, an order will appear there in the name of Rico and a sell order in the name of Rico or another broker. So it's always a custodian agent who will represent you on the stock exchange.

Then you go and buy a share. Where are these shares? So, I bought Petrobras shares, I bought Petro three shares.

Where are these shares? Are they in Rico? They don't stay at Rico, they don't stay at the brokerage house.

They stay at CBLC, which is the Brazilian Settlement and Custody Company. So, that's interesting. I trade all of this from here within B Three, which is the trading environment, being represented by my custodian agent, which is the brokerage house.

And when I buy a share, that share is registered under my CPF and stays there at CBLC. But I can see all this through the brokerage house, which is prettier, has all the systems, I can see everything here. Or I can also view it through SEI, which is the Investor's Electronic Channel.

But then you might ask yourself, what if the broker goes bust? What happens? I've lived through a time when many brokers have gone bust in the past, there have been a lot of problems.

Today the scenario has changed somewhat. So there are two things we need to know. Firstly, how secure is the broker as a company?

So, for example, I invest through Rico. Dude, Rico is part of the XP Group, which is a gigantic group, a company worth more than R$one hundred billion. So you have the backing, you have great security here.

But let's suppose that, even so, something goes wrong and it disappears. Am I going to lose all my money? I won't lose all my money, because I've become a shareholder in several companies.

And these shares are held in custody at CBLC. In other words, all I have to do is go to a competitor's broker and say, look, broker, I have shares that are there at CBLC. Transfer those shares to me here, so that I can view them here and use you as my custodian or CBLC agent.

And the broker will fill in a form, you transfer the shares and that's it. And when you buy a share, you get a proof of purchase, like an invoice. You buy a product and you get an invoice.

But in the financial market this is called a brokerage note. And every time I buy through Rico, I receive it in my e-mail, I have access in my logged-in area. So I have a brokerage note there with everything I bought, quantity, price, taxes, fees, everything.

This is my proof of purchase. So that's your security, you don't have to worry about the broker. I would say that, actually, it's not that you don't have to worry, because there is a risk of fraud.

That's why you always need to demand all your statements. So demand your statements, check the Investor's electronic channel to see if your shares are actually there, because there could be fraud involved. It has happened in the past, but that's why you have to look for solid institutions and understand how this financial system works.

Any problems? Who do you complain to? The CVM.

Now, what are the types of shares? We always have four letters and a number. All shares are made up like this, four letters and a number.

So, let's take the example here of Vale, Vale do Rio Doce. You'll see that they're not traded by their full name, they have codes, which is to make day-to-day life easier, which doesn't seem difficult at first, but then it becomes easier, because you gain speed, you gain agility, you gain a lot of things. So Vale do Rio Doce, its code is Vale, only, it's not Vale do Rio Doce.

When you take Gerdau, the code is GGBR. When you take Zinminas, the code is ZIN. Eletrobras, the code is ELETE.

So, what will you notice here? There are always four letters. So, the first part we need to know is every asset that is traded on the Bthree has four letters.

Every variable-income asset on the spot market has four letters. So we've understood that. Now, what about that little number that comes after it?

What does it mean? Because you'll see three at the end, four, five, eleven, twelve. .

. You'll see a lot of things, six. .

. You're going to say, what's that? And you'll understand now what it means.

Three means ordinary shares. So, if you're going to have Vale three, this is an ordinary Vale share. And I'll tell you what it means.

If you have four, it's a Gerdau preferred share. If you have five, it's a class A preferred share. And if you see six, it's a class B preferred.

And if you see eleven, it's a unit. And if you see thirty-four, it's a BDR. Okay, so we've understood that this helps us to differentiate the type of share.

What does each type mean? Type three are ordinary shares, which give you the right to vote. Controlling shareholders usually have ordinary shares.

Those who have ordinary shares can vote in a meeting, they can basically run the company. But you see, if I have one share out of a billion shares, I'm going to send the equivalent of one share out of a billion shares. So I'm in charge in proportion to what I have in shares.

So it wouldn't make much difference. So, unless your goal is to acquire control of the company or something, it might not make much sense, apart from other things I'm going to talk about in a moment. So, ordinary shares give you the right to vote.

You have the same class of shares, generally, as the controlling shareholder. So it's good because you're aligned with him. You often have a tag along.

So, if the controlling shareholder is going to sell a stake, you have the right, most of the time, to sell your shares in the same deal as him. So, generally, these shares have this voting benefit, but they don't contribute much to all the shareholders. On the other hand, we have the number four, which are the preferred shares.

Four, five and six are very similar. What do preferred shares mean? Preferred shares are those that give you preference over the distribution of dividends and profits.

So, generally, these shares won't give you a vote in the seat so that you can dominate the company, but they will help you receive more money. So if you're focused on the idea that I don't want to run the company, I want to make a profit, you generally tend to look for preferred shares that will give you more dividends. And that's generally the focus of most individuals, it's not to the company, it's to remunerate their capital in a more efficient way.

Now, what is the number eleven in front? When you're talking about shares, it usually stands for units. If you're talking about real estate funds, it also stands for real estate funds.

Let's look at some examples. A unit is like a package of shares with ON and PN shares inside. So, when you buy a Vale Três share, you've bought a single Vale Três share.

When you buy a GGBR-IV, you've bought a GGBR-IV. When you buy a Samb-XI, you haven't bought a Santander share, you bought a Santander unit. And within that unit, you have some PN shares and some ON shares.

It's as if you had bought them all together. For example, if we talk about Klabin, KLBN-XI, each share or unit you buy of KLBN-XI, you're actually buying one ordinary share and four preferred shares. So you're buying a package of five shares with one ordinary share and four preferred shares.

So one unit has to be worth the equivalent of one ordinary and four preferred. If it's worth less, maybe you can arbitrage that and buy it from here. But you have to know that you're buying more than a single share.

Why does this happen? Because sometimes the shares have little liquidity, so they don't trade much. And for the shareholders, and for the market, and for the company, it's good for these shares to have more liquidity, for them to be traded more.

So they bundle everything together, because all the shareholders are obliged to trade the same class of share, which would be the unit. So, for example, I have S-Tietê here. Tietê III traded in volume of R$ sixty-two thousand, we're talking in thousands, A-IV, R$ one hundred and thirty-five and A-XI, R$two.

five million. So the unit trades more than the other two. And if you look at them all on the stock exchange, all the units have more liquidity.

Alupar, the unit, has more liquidity. Banco Inter, has more liquidity. BTG Pactual has much more liquidity.

Energiza, more liquid. Klabin, more liquid. So, all of them on the stock exchange have more liquidity as a unit.

There was even a controversy, at one point, about converting shares into Banco Inter units. Then I took it and said, guys, I'm going to convert, because this will give me more liquidity. And a lot of people thought no, but you're crazy.

And what happens is that we're seeing here that, in fact, Banco Inter also has more liquidity. So that's why this conversion into units happens. Sometimes you'll see a twelve at the end.

The twelve is a subscription. If you want to understand a little more about subscription, just click on this video I'm going to leave here, in which I subscribe so you can see how this operation works. But I'm not going to focus on that in this video.

Then there's type XXXIV, which I told you about, which is the BDR. BDRs are a little different from shares. Why is that?

Because when we're talking about shares, we're trading the companies traded on the B-III, on our stock exchange. But when we're talking about BDRs, we're talking about shares that aren't traded on our stock exchange, which are traded, for example, on the US stock exchange. So how does that work?

If the shares are traded there, how can I buy and sell them here? It's because there's a part of those shares out there, which they leave as collateral and use as backing, for receipts to trade those shares on our exchange. So, I have a series of BDRs here in Brazil, for example, Disney.

I have the Disney BDR. So, I get dividends from Disney, I get a lot of things from Disney. Berkshire, which is Warren Buffett's company, if you have BDRs, you can go to their annual event there, which is only for those who have shares, for example.

So it's very similar. There are some small differences, which if you want to understand, just watch this BDR video here, but it's very similar. You buy BDRs, you receive dividends, you receive the appreciation or devaluation, but the point is, because they're traded outside the country and in dollars, that's what impacts your money.

So, if the shares abroad don't move, but the dollar rises by a hundred percent, you'll gain a hundred percent because of the exchange rate variation. On the other hand, if the dollar falls and the stock falls too, you could lose a lot. But it's an interesting diversification so that you have different countries, different asset classes and understand what we're talking about.

There are a number of interesting BDRs that we can trade. So we have BDRs from Adobe, for example, Activision, Google, Apple. You have a number of interesting things here that should be included in your analysis.

You can even convert BDRs into shares abroad, in some account you have abroad, at some point, if you want to. I could, but I don't do it, it doesn't make sense to me today. But I could do it if I wanted to.

And it's very important to talk about income tax. There are two types of operations that people usually do. There's swing trading and day trading.

Swing trades are trades in which you buy a share today and sell it another day. So you can sell tomorrow, or next week, or in a month's time, or in a year's time, or in five, ten years' time. That's a swing trade.

Now, if you buy a stock and sell it on the same day, that's a Day Trade. And when you make a different operation here, it's important to know what you're doing, because the tax is different. If you do a Day Trade, you generally pay ten percent on your profit.

And if you do a Swing Trade, you pay ten percent on your profit. as a normal individual trading. Of course, there's also a little catch here: in a Swing Trade you get an exemption of up to R$ floor if you sell within the same month.

If you want to understand a little more about this exemption, there's a video here where I explain why I do this trade every month and save a lot of money on tax. If you have any friends who are starting to invest in shares, who have doubts about how to invest in shares, who want to get started, take this video and send it to them. This is the solid foundation they need to start investing in shares the right way.

And then just watch the videos here on the channel to understand a little more about how to analyze, how to choose, how to set up your portfolio, investment philosophy, method and everything else, okay? Big hug, see you in our next video and bye!