Ukwahluka kwePotfoliyo: indlela yokukhusela utyalo-mali. Namhlanje ihlabathi liye langena kwinqanaba lolunye ukutshatyalaliswa, kwaye oku akunakuchaphazela i-market market. Izolo nje, izibambiso ezibonakala zithembekileyo (izitokhwe, iibhondi, njl.) ezixabisa imali eninzi kwaye zizisa inzuzo ezinzileyo, namhlanje ziwela ngokukhawuleza kwixabiso. Ngoko ke, abatyali-mali kufuneka balungiselele utshintsho olubukhali kwiimeko zemarike. Kwaye ukwenza oku, yahlula ipotifoliyo yakho yotyalo-mali ukuze unciphise imingcipheko yakho yezemali. https://articles.opexflow.com/investicii/investicionnyj-portfel.htm
- Ukwahluka kweepotfoliyo zotyalo-mali – yintoni ngamagama alula
- Yeyiphi eyona potfoliyo yotyalo-mali
- Abatyali-zimali abalondolozayo
- Abatyali mali abaphakathi
- Abatyali-mali abanobundlongondlongo
- Uyenza njani ipotifoliyo yakho yotyalo-mali
- Ngohlobo lwemali
- Ngokwelizwe
- Ngeklasi ye-asethi
- Ngokwecandelo lezoqoqosho
- Ngeenkampani
- Yintoni undoqo wokwahluka xa kutyalo-mali
- Ukwahlulahlula iPotfoliyo ye-Inversion – iiPros and Cons
- IiPros of Diversification
- Ii-Cons of Diversification
- Ngaba ikho imizekelo yeepotfoliyo zotyalo-mali ezilungelelanisiweyo
- Uhlobo lwepotfoliyo yotyalo-mali – “perpetual portfolio”
- Uhlobo lwepotfoliyo yotyalo-mali – 50 ukuya kwi-50
- Uhlobo lwepotfoliyo yotyalo-mali- “Ipotfoliyo ephucukileyo”
- Uhlobo lwepotfoliyo yotyalo-mali – “Ipotfoliyo yemali”
- Ukuhlengahlengisa yindlela yokuthintela ukwanda komngcipheko kwipotfoliyo yotyalo-mali
Ukwahluka kweepotfoliyo zotyalo-mali – yintoni ngamagama alula
Ingqikelelo yeyantlukwano ibanzi. Isenokuthetha inkqubo yokwandisa umda weshishini ukuze kwandiswe inzuzo. Ukwahluka kwepotifoliyo yotyalo-mali kuthetha iqhinga lokulawula imingcipheko enokwenzeka xa kuthengwa ii-asethi kwimarike yemasheya. Ibonelela ngokusasazwa kwee-asethi (izitokhwe, iibhondi, okanye ezinye izixhobo) ngendlela yokuba imingcipheko yomnini wepotfoliyo ihlale incinci kangangoko.
Ipotfoliyo yotyalo-mali yimpahla eqokelelwa ngendlela yokuba inzuzo yabo ihlangabezane neenjongo kunye neenjongo ezibekwe ngumnini wayo kangangoko kunokwenzeka. Iiphothifoliyo zotyalo-mali zingabandakanyi kuphela isethi yezixhobo ezisetyenziswa kwimarike yemasheya (izabelo zeemali ezithengiswayo,
ixesha elizayo , izitokhwe, iibhondi, njl.), kodwa kunye nemali, isinyithi esixabisekileyo, i-real estate, idiphozithi kwiibhanki ezahlukeneyo, kwaye nangokunjalo.
Kwangaxeshanye, umngcipheko kumtyalo-mali yimeko apho akafumani inqanaba lengeniso awayeyicwangcisile xa equlunqa ipotifoliyo, okanye kwanokulahlekelwa yinxalenye yemali etyaliweyo. Ukwahlukahlukana kwepotfoliyo yotyalo-mali kuvumela kwaye kubonelele ngokuthengwa ngumtyali-mali kungesiso nasiphi na isixhobo, kodwa ukuthengwa kwempahla kwiindidi ezahlukeneyo ezinxulumene kancinci omnye komnye. Oku kukuvumela ukuba ubuyekeze ukuhla kwengeniso kwindawo enye ngenxa yenzuzo yezinye izikhundla. Ngexesha elifanayo, kufuneka kukhunjulwe engqondweni ukuba ukuthengwa kwempahla (izabelo) zeenkampani ezahlukeneyo akusoloko kukho ukuhlukahluka. Ngokomzekelo, ukuba umtyalo-mali uthenga izabelo ze-Chevron, i-Gazprom kunye ne-Total, ngoko oku akuyi kuba yintlukwano, ekubeni zonke ezi nkampani, nangona zibhaliswe kumazwe ahlukeneyo, zisebenza kwimarike yeoli kunye negesi eqhelekileyo. Kwaye ukusabela kwemarike kuzo naziphi na iziganeko ziya kuchaphazela ngamnye kubo. Ukuba, nangona kunjalo, iphothifoliyo yenziwe kwizabelo zeenkampani ezahlukeneyo ezisebenza kwiindawo ezingahambelaniyo, umzekelo, ukuveliswa kweoli kunye negesi, ukwakhiwa, iteknoloji ye-IT, njl. ube mncinci.
Yeyiphi eyona potfoliyo yotyalo-mali
Akukho mpendulo engathandabuzekiyo kumbuzo – yeyiphi eyona potfoliyo yotyalo-mali? Umtyali-mali ngamnye uneemfuno zakhe zepotfoliyo yotyalo-mali, exhomekeke kwinani elikhulu lezinto, ezifana ne-investment horizon, iinjongo ezibekiweyo, i-solvency yemali, njl. Ke ngoko, ayithethi malunga neyona nto ilungileyo, kodwa imalunga nepotifoliyo yotyalo-mali elungelelanisiweyo. Umtyali-mali unokufumana ipotifoliyo enjalo ukuba ixutywe ngokufanelekileyo. Xa inzuzo kunye nemingcipheko kuyo iya kuhlangabezana neminqweno yomtyali-mali kangangoko kunokwenzeka. Ngelo xesha, ngamnye kubatyali-mali uya kuba nengeniso elindelekileyo kunye neengozi ezamkelekileyo. Oku kungasentla kunokubonakaliswa ngulo mzekelo ulandelayo onemiqathango. Masithathe “iintlobo zabatyali-mali” ezintathu eziphambili:
Abatyali-zimali abalondolozayo
Abatyali-mali abanjalo, okokuqala, bafuna ukugcina iimpahla zabo kwaye bazikhusele kwiinkqubo zokunyuka kwamaxabiso. Ngoko ke, kubo, ukuhlukahluka kuya kubandakanya ukufumana ezona mpahla zithembekileyo (iibhondi, izitokhwe, njl.) Iinkampani ezizinzileyo, ezinkulu. 
Abatyali mali abaphakathi
Bakulungele ukuqalisa ukwenza utyalo-mali olunobungozi ukwandisa umvuzo wabo. Kodwa injongo ephambili yabatyalo-mali abanjalo kusekho ukuqokelela inkunzi (ngaphakathi kweenjongo ezimiselweyo) iminyaka eyi-10-20. Ngoko ke, iipotifoliyo zabo zotyalo-mali zilawulwa ngamasheya emarike ebanzi, kwaye phantse onke amacandelo oqoqosho amelwe kuyo.
Abatyali-mali abanobundlongondlongo
Abatyali-mali abanjalo bazama ukukhawuleza ukufumana imbuyekezo ephezulu, kwaye ngoko kulula ukuya kwi-drawdown yepotifoliyo yabo yotyalo-mali. Kubatyali-mali abanjalo, ukwahluka kuya kuba kutyalo-mali lwamalinge. 
Utyalo-mali lweVenture lutyalo-mali apho utyalo-mali lwenziwa kwiiprojekthi ezininzi ezithembisayo (kodwa kunokuba yingozi) kumanqanaba okuqala okusekwa kwazo.
Ngokunokwenzeka okuphezulu, iiprojekthi ezi-8 kwi-10 ziya kusilela. Kodwa ingeniso efunyenwe kwiiprojekthi eziphunyezwe ngempumelelo iya kugubungela ngokupheleleyo ilahleko kwaye izise inzuzo enkulu.
Uyenza njani ipotifoliyo yakho yotyalo-mali
Ke ngoko, ngaphambi kokuba uqalise ukwenza ipotifoliyo yakho yotyalo-mali, umrhwebi/umtyali-mali kufuneka kuqala athathe isigqibo malunga neenjongo azilandelayo kunye nesicwangciso aza kusisebenzisa. Iinjongo zinokwahluka kakhulu – ukusuka ekufumaneni ipropathi (indlu, indlu, imoto ebiza kakhulu, njl.njl.), ukuya ekuhlawuleleni imfundo yabantwana okanye ukuvelisa ingeniso eyongezelelweyo emva kokuthatha umhlalaphantsi. Umzekelo, umtyali-mali oneminyaka engama-25-30 ubudala wagqiba ekubeni azenzele ingxowa-mali yomhlalaphantsi. Uneminyaka engama-30-40 phambi kwakhe. Kwaye ngoko ke, kufuneka enze iphothifoliyo yotyalo-mali yempahla esele ibonise imbuyekezo entle kwaye ezinzileyo ngexesha elide. Kwangaxeshanye, nokuthotywa kwezabelo, okwethutyana, akuyi kuchaphazela ngokukodwa ipotifoliyo enjalo, kuba kuya kubakho ixesha elaneleyo elingaphambili, ukuze bazinze kwaye baqhubeke bekhula. Kwangaxeshanye, ukuba ixesha lotyalo-mali lifutshane kakhulu, iminyaka emi-2-4, ke ipotifoliyo kubo yenziwe ngcono ukusuka kwisitokhwe esinozinzo oluphezulu, nangona kungekho nqanaba liphezulu lengeniso (ngokuqhelekileyo ezi zibhondi ”
iitshiphusi eziluhlaza “). Emva kokuba iinjongo kunye neendlela zichongiwe, umtyalo-mali uqala ukwenza iphothifoliyo, ekhetha i-asethi ayidingayo kunye neeparitha ezifanelekileyo. Ngeli xesha, ungabhenela kumanqanaba ahlukeneyo ohlukeneyo ngexesha elinye: 
Ngokwecandelo lezoqoqosho
Okukuthi, nangona kunjalo ngokwemiqathango, zohlulwe zibe zisekiweyo ezinembuyekezo ezinzileyo. Kwaye abatsha, kunye nenqanaba eliphezulu lezinto ezintsha, ezithwala imingcipheko, kodwa ngotyalo-mali oluyimpumelelo, banokuzisa umvuzo ophezulu kakhulu kwabo babone amandla abo ngexesha.
Ngeenkampani
Ukufunyanwa kwezabelo zeenkampani ezithile. Ukhetho olufuna ukuba umtyalo-mali abe nolwazi olunzulu ngeemeko zemarike, ukukwazi ukuhamba izikhombisi kunye ne-intuition enzulu. Xa uthenga izibambiso, kufuneka uqaphele ukuba i-asethi enye ayihlali ngaphezu kwe-10% yepotfoliyo yotyalo-mali, kwaye icandelo elinye loqoqosho alidluli kwi-20%. Ukwahlula ipotifoliyo yakho yotyalo-mali ngamagama alula: https://youtu.be/CA7d9VSi7NE
Yintoni undoqo wokwahluka xa kutyalo-mali
Ithiyori “yepotfoliyo” eyamkelwa namhlanje yindlela ekuvumela ukuba ukhethe iimpahla ezizisa owona mvuzo uphezulu unokuba nobungozi obuncinci. Ngokutsho kwakhe, ukuze ulawule ngempumelelo imingcipheko kutyalo-mali, umntu unokutyala imali ngokwahlukana. Ngoko ke, ukuba udibanisa izinto ezinobungozi kunye nezinzile, unokwenza iphothifoliyo elinganayo. Umzekelo, kunye nezabelo, ungaphinda uthenge iibhondi. Ngexesha elifanayo, umngcipheko jikelele wotyalo-mali uya kuba ngaphantsi kakhulu kwimeko yokuthenga izixhobo zomntu ngamnye. Ithiyori ikwachaza ukuba ii-asethi kufuneka zidityaniswe kumacandelo ezoqoqosho angahambelani ngokupheleleyo. Umzekelo, masithi ixabiso lezinye izibambiso liwa kakhulu ngenxa yokunyuka kwamaxabiso ezinto ezithile eziluhlaza, ngelixa ezinye zinyuka ngokukhawuleza. 
IiPros of Diversification
Uncedo olungathandabuzekiyo lolwahlulo lubandakanya:
- Ukunciphisa imingcipheko ukuya kwinqanaba elamkelekileyo . Ithuba lokuba umtyalo-mali uya kulahlekelwa yimali ebalulekileyo iyancipha kakhulu.
- Ithuba lokuba umtyali-mali atyale inxalenye yemali kwizinto ezinobungozi, kodwa ezinengeniso ephezulu . Kwipotfoliyo yotyalo-mali eyohlukeneyo, ezo asethi aziyi kwandisa inqanaba lomngcipheko.
- Ukukhuselwa ngokuchasene nokuguquguquka okukhulu kweemarike.
- Ngexesha elide, inokunyusa imbuyekezo iyonke kwipotfoliyo yotyalo-mali .
Ii-Cons of Diversification
Ukungalungi kokwahluka kubandakanya:
- Ayizi kukhusela kwimingcipheko yenkqubo echaphazela zonke izibambiso kwimarike.
- Ubunzima bokulawula ipotifoliyo yotyalo-mali, kuba okukhona i-asethi eninzi iqulethe, kokukhona kunzima ukuyilawula.
- Ukwandisa iikhomishini, izibambiso ezininzi ezithengwa ngumtyali-mali, iikomishini ezininzi kufuneka ahlawule.
- Ukwahluka okugqithisileyo kunokunciphisa kakhulu imbuyekezo yepotfoliyo.
- Ubuncinci bengeniso kwixesha elifutshane.
Ukwahlukana kukuchaphazela njani ukuthembeka kwepotfoliyo yotyalo-mali kunye nendlela yokwabiwa kwe-asethi efanelekileyo: https://youtu.be/GH6e9aY2BOI
Ngaba ikho imizekelo yeepotfoliyo zotyalo-mali ezilungelelanisiweyo
Oosonzululwazi kunye nabatyali-mali kudala bezama ukwenza ipotifoliyo yotyalo-mali “efanelekileyo” eqinisekisiweyo yokubonelela ngembuyekezo ephezulu ngelixa inciphisa ngokupheleleyo nayiphi na ingozi. Kodwa iphothifoliyo enjalo inokwenzeka kuphela kwihlabathi “elilungileyo”, kwaye ekubeni abatyali-mali kufuneka basebenze kunye nenyani, kuya kwenzeka ukuba ufumane ukuba yeyiphi iphothifoliyo eya kuba nenzuzo kakhulu kwiminyaka elishumi kuphela emva kweminyaka elishumi. Uqoqosho lwehlabathi luhlala lutshintsha kwaye ezinye zeenguqu zalo azinakwenzeka kwaphela ukuqikelela. Ke ngoko, abatyali mali akufuneki bachithe ixesha labo bekhangela ipotifoliyo yotyalo-mali “efanelekileyo”. Kwaye kuyafaneleka ukuqokelela ipotifoliyo edibana ngokupheleleyo neemeko zangoku kwiimarike zemasheya, kwaye uqale ukusebenza nayo. Ukufumana ulwazi oluchanekileyo nolupheleleyo lweempawu zomhlaba, Kufanelekile ukuqwalasela ezinye zezona ntlobo zidumileyo zeepotfoliyo zotyalo-mali ezilinganayo. [caption id = "incamathiseli_12615" ulungelelwaniso = "aligncenter" wide = "444"]
Uhlobo lwepotfoliyo yotyalo-mali – “perpetual portfolio”
Olu hlobo luvele ekuqaleni kweminyaka engama-70 yenkulungwane edlulileyo kwaye lolona hlobo lulula lwepotfoliyo yotyalo
Uhlobo lwepotfoliyo yotyalo-mali – 50 ukuya kwi-50
Kule potfoliyo, i-50% yeemali ezityalo-mali zityalwe ekuthengeni izabelo kunye ne-50% kwiibhondi. Kwangaxeshanye, ii-asethi ezifunyenwe ngaphakathi zikwahluka, ngoko ke ukuba uninzi lwezabelo ziphethwe ziinkampani zaseMelika, ke kwiibhondi eyona nxalenye ibalulekileyo iphethwe ngamashishini aseTshayina okanye aseRussia.
- I-TSPX (iitshiphusi eziluhlaza zase-US) – 30%
- I-TMOS (iitshiphusi eziluhlaza zaseRashiya) – 5%
- I-VTBE (izabelo zeenkampani kwamanye amazwe) -15%
- Iibhondi kwisixa samashumi amahlanu epesenti yepotfoliyo:
- I-OFZ (iibhondi zeSebe lezeMali le-Russian Federation) – 30%
- I-FXRU (iibhondi zemali zeenkampani zaseRashiya) – 10%
- I-FXRB (iibhondi zemali zenkampani yaseRashiya ngokukhuselwa kwiinguqu kwizinga lokutshintshiselwa) – 10%.
Uhlobo lwepotfoliyo yotyalo-mali- “Ipotfoliyo ephucukileyo”
Olu hlobo lufana ngokuyinxenye kunye “nepotfoliyo yanaphakade”, kodwa lukwanalo nolwahlulo olukhulu kuyo. Okokuqala, ibandakanya utyalo-mali kwi-real estate kunye nezinye ezibizwa ngokuba yi-cryptocurrency, iingqekembe, izitampu, imisebenzi yobugcisa, izinto zakudala.
- Ukuba nesabelo – 25%.
- Iphakheji yebhondi – 25%.
- Iintsimbi ezixabisekileyo – 20%.
- Indawo yokuhlala – 20%.
- Olunye utyalo-mali olulolunye – 10%.
Uhlobo lwepotfoliyo yotyalo-mali – “Ipotfoliyo yemali”
Ipotfoliyo enjalo yotyalo-mali ibandakanya kuphela iimali kwaye ayifanelekanga ukuvelisa ingeniso yokwenyani eyongezelelweyo okanye ukuqokelela inkunzi. Kodwa iphothifoliyo enjalo ilungile ekugcineni imali etyaliwe. Kwaye, ukuba umtyalo-mali uceba ukwenza iindleko zakhe ezizayo kule potfoliyo, ngoko akukho mfuneko yokwenza ukuguqulwa kwemali.
Ukuhlengahlengisa yindlela yokuthintela ukwanda komngcipheko kwipotfoliyo yotyalo-mali
Kwinkqubo yomsebenzi, umlinganiselo wee-asethi kwipotfoliyo yotyalo-mali unokutshintsha kakhulu. Oku kwenzeka ngenxa yokuba ixabiso lee-asethi ezahlukeneyo kwipotfoliyo liyohluka ngokungalinganiyo. Abanye babo baya kunyuka kwixabiso ngokukhawuleza, kwaye ukuba akukho nyathelo lithathwayo, ngoko ngexesha elithile kunokwenzeka ukuba iklasi enye kuphela ye-asethi iya kuqalisa ukuphendula ininzi yexabiso lepotfoliyo yotyalo-mali. Kwaye ngokwemvelo, ngenxa yokungalingani okunjalo kwipotifoliyo yotyalo-mali, imingcipheko iya kwanda. Ukuze ugweme imeko enjalo, umtyalo-mali kufuneka ahlengahlengise ipotifoliyo yakhe yotyalo-mali ngamaxesha athile. Kutheni le nto kuyimfuneko ukuthatha ingeniso kwii-asethi ezikhulayo kwaye usebenzise ezi zixa-mali ukufumana ii-asethi ezingakhuli ngokukhutheleyo okanye zide zithobe de iphothifoliyo ilungelelane kwakhona. Ukuba ibhalansi ngaphakathi kwiphothifoliyo yotyalo-mali iyatshintsha kwinqanaba elincinci (1-3%), ngoko akukho nto inokutshintshwa kwiphothifoliyo. Ukuba ibhalansi iphazamiseka ngaphezu kwe-10%, ngoko kuyimfuneko ukulungelelanisa iphothifoliyo kwaye uyibuyisele kwinqanaba lokuqala lomlinganiselo we-asethi.
Umzekelo:
Masithi ipotifoliyo yokuqala yomtyali-mali ine-stock ukuya kwibhondi ratio ye-70/30. Inxalenye eyahlukileyo yezabelo ikhule kwixabiso, kwaye ngoku lo mlinganiso sele u-80/20. Ukuze ubuyisele ipotifoliyo kwibhalansi yayo yokuqala, umtyali-mali kufuneka athenge ngaphezulu kweebhondi okanye athengise ezinye zezabelo. Ngexesha elifanayo, kufuneka kukhunjulwe ukuba injongo yokulungelelanisa ayikokwandisa inzuzo ye-investment portfolio, kodwa ukunciphisa ingozi enokwenzeka.
