What is Profit&Loss (P&L) Statement ?

Definition : Also known as Income statement, is a financial statement which shows expenses and revenue of a company during a particular period, usually a fiscal quarter or year.
Read : What Is Balance Sheet ?
Income Statement helps to convey the status of a company i.e. Company is making profit or suffering losses. It is very important to read Income Statement of a company before investing, both of recent and past years.
Note : Revenue : Total amount received from sales of goods and services. Expenses : Total amount spend in producing final product or service.
Structure of P&L Statement  Income Statement is divided into Five main section - Net sales, Cost of Goods Sold, Gross Margin, Operating Expenses and Net Profit Before & After Income Tax (Or Net Loss in case of Loss).
Net Sales : It is the sum of Gross sales excluding its returns, allowances and discounts.Cost Of Goods Sold : Amount of money used to produce the final product. For example cost of inventory, merchandise purchased…

Top 5 Tycoon of Wall Street

1. Warren Buffet : The first name which comes in our mind when we think about wall street is 'warren Buffet', one of the top richest man in the world who made his career from Wall Street. He is an American Businessman and Investor who serves as CEO and Chairman of Berkshire Hathaway. He is considered as one of the most successful Investor in the world and had current net worth of US$ 85 billion as of June 3, 2018, making him the third richest person in the world. 99% of Buffet's wealth was earned after age of 50 that's why Buffet always suggest long term value investing. It is also known that Buffet has so far donated enough money in his lifetime to build four Apple Spaceship Campuses.
2. Carl Icahn : An american businessman and investor, also the founder and controlling shareholder of Icahn Enterprises. He is also chairman of Federal-Mogul. He has net-worth of US$ 19 billion as of 2018, making him the 26th richest person in the world and the 5th-wealthiest hedge fund manager. wall Street was not his first choice, he want to join army but that clearly wasn't his cup of tea. He became a Wall Street Stockbroker at the age of 25. He made US$ 3 billion from Netflix stock by staking 10%  in 2012.

3.George Soros : He is a Hungarian-American Investor, business magnate, political activist and author. Soros is one of the world's most successful investor. He has net-worth of US$ 8 billion as of February, 2018. He donated $18 billion to his philanthropic agency. In 1996, he donated $1 million to promote ballot in California and Arizona that eventually lead to the legalization of medicinal marijuana use. Soros has  so many charges of stock manipulation, insider trading, etc. In 1992, Soros bets $10 billion against the value of the British pound. After the currency collapse, known as "Black Wednesday," Soros makes up to $1 billion and becomes known as the man who "broke the Bank of England" by the London press. 

4.Rakesh Jhunjhunwala : Popularly known as the Warren Buffet of India, he is a Indian investor and trader. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. He is the 50th richest person in India, with net worth of US$ 3 billion as of June 1, 2018. His story is so inspiring as by Stock market investment he has made Rs 5000 Cr from 5000 Rs/- in 30 years. He is also known to be a big fan of Bollywood and also produced so many movies including one hit movie called English Vinghlish.

5.Benjamin Graham : He was a British-born American investor and economist, widely known as the 'father of value investing'. His book Intelligent Investor is considered as the best book for value investing, recommended by various successful stock investors. His investment philosophy stressed investor psychology, minimal debt, buy-and-hold investing, fundamental analysis, concentrated diversification., etc. Throughout his career, Graham had many notable disciplines who went on to receive substantial success in the world of investing, including buffet, who describe him as the second most influential person in his life, after his own father.

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