Iyini i-investment portfolio diversification: ingqikithi nezibonelo

Ukuhlukahluka kwephothifoliyo: indlela yokuvikela ukutshalwa kwezimali. Namuhla umhlaba usungene emkhakheni wokunye ukuwohloka komnotho, futhi lokhu bekungeke kuthinte imakethe yamasheya. Izolo nje, izibambiso ezibonakala zinokwethenjelwa (amasheya, amabhondi, njll.) ezibiza imali eningi futhi ziletha inzuzo ezinzile, namuhla ziwela kakhulu ngentengo. Ngakho-ke, abatshalizimali kufanele balungele izinguquko ezibukhali ezimweni zemakethe. Futhi ukwenza lokhu, hlukanisa iphothifoliyo yakho yokutshala imali ukuze unciphise ubungozi bakho bezezimali. https://articles.opexflow.com/investicii/investicionnyj-portfel.htm

Ukuhlukahluka kwephothifoliyo yokutshala imali – kuyini ngamagama alula

Umqondo wokuhlukahluka ubanzi kakhulu. Kungasho inqubo yokwandisa ububanzi bebhizinisi ukuze kwandiswe inzuzo. Ukuhlukahluka kwephothifoliyo yokutshalwa kwezimali kusho isu lokulawula ubungozi obungaba khona lapho kutholwa impahla emakethe yamasheya. Ihlinzeka ngokusatshalaliswa kwezimpahla (izitoko, amabhondi, noma amanye amathuluzi) ngendlela yokuthi ubungozi bomnikazi wephothifoliyo buhlale buncane ngangokunokwenzeka.

Iphothifoliyo yokutshalwa kwezimali yizimpahla eziqoqwa ngendlela yokuthi inzuzo yazo ihlangabezane nezinjongo nezinjongo ezibekwe umnikazi wayo ngangokunokwenzeka. Amaphothifoliyo okutshalwa kwezimali angeke afake nje isethi yamathuluzi asetshenziswa emakethe yamasheya (amasheya ezimali ezihwebelana ngokuhwebelana,
ikusasa , amasheya, amabhondi, njll.), kodwa kanye nemali, izinsimbi eziyigugu, izindlu nomhlaba, amadiphozithi emabhange ahlukahlukene, njalo njalo.

Ngesikhathi esifanayo, ubungozi bomtshali-zimali yisimo lapho engatholi khona izinga lemali engenayo ayehlele lapho ehlanganisa iphothifoliyo, noma ngisho nokulahlekelwa ingxenye yezimali ezitshaliwe. Ukuhlukahluka kwephothifoliyo ye-investment kuvumela futhi kunikeza ukuthengwa komtshali-zimali hhayi kwanoma iyiphi ithuluzi elilodwa, kodwa ukuthengwa kwezimpahla ezigabeni ezihlukene ezingahlobene kancane. Lokhu kukuvumela ukuthi unxephezele ukwehla kwemali engenayo endaweni eyodwa ngenxa yenzuzo yezinye izikhundla. Ngesikhathi esifanayo, kufanele kukhunjulwe ukuthi ukuthengwa kwempahla (amasheya) ezinkampanini ezihlukahlukene akuhlali kuhlukahluka. Isibonelo, uma umtshali-zimali ethenga amasheya e-Chevron, i-Gazprom ne-Total, khona-ke lokhu ngeke kube ukuhlukahluka, ngoba zonke lezi zinkampani, naphezu kokuthi zibhaliswe emazweni ahlukene, zisebenza emakethe evamile kawoyela negesi. Futhi ukusabela kwemakethe kunoma yiziphi izehlakalo kuzothinta ngayinye yazo. Kodwa-ke, uma kwakhiwa iphothifoliyo kusuka kumasheya ezinkampani ezahlukahlukene ezisebenza ezindaweni ezingahlobene, ngokwesibonelo, ukukhiqizwa kukawoyela negesi, ukwakhiwa, ubuchwepheshe be-IT, njll., khona-ke izingozi zoshintsho olubi lwemakethe kubo zizovela kanyekanye. kube kuncane.

Ithini iphothifoliyo yokutshalwa kwezimali efanele

Ayikho impendulo eqondile embuzweni – ithini iphothifoliyo yokutshala imali efanelekile? Umtshali-zimali ngamunye unezidingo zakhe zephothifoliyo yokutshalwa kwezimali, ezincike enanini elikhulu lezici, njenge-investment horizon, imigomo ebekiwe, i-solvency yezezimali, njll. Ngakho-ke, akukhona mayelana nephothifoliyo yokutshalwa kwezimali ebhalansiswe kahle. Umtshali-zimali angathola iphothifoliyo enjalo uma ihlukene ngokufanele. Lapho inzuzo kanye nezingozi kuyo kuzohlangabezana nezifiso zomtshali-zimali ngangokunokwenzeka. Ngesikhathi esifanayo, abatshalizimali ngamunye bazoba nenzuzo yabo elindelekile kanye nezingozi ezamukelekayo. Okungenhla kungafanekiswa yimodeli enemibandela elandelayo. Ake sithathe “izinhlobo zabatshalizimali” ezintathu eziyinhloko:

Abatshalizimali abalondolozayo

Abatshalizimali abanjalo, okokuqala, bafuna ukugcina izimpahla zabo futhi bazivikele ezinqubweni zokwehla kwamandla emali. Ngakho-ke, kubo, ukuhlukahluka kuzobandakanya ukuzuza izimpahla ezinokwethenjelwa kakhulu (amabhondi, amasheya, njll.) ezinkampanini ezizinzile, ezinkulu. [i-id yamagama-ncazo = “okunamathiselwe_11988″ align=”aligncenter” wide=”941″]
Izinhlobo zamaphothifoliyo okutshalwa kwezimali[/caption]

Abatshalizimali Abaphakathi

Bakulungele ukuqala ukutshala izimali eziyingozi ukuze bakhulise iholo labo. Kodwa umgomo oyinhloko wabatshalizimali abanjalo namanje ukuqongelela imali (ngaphakathi kwemigomo ebekiwe) iminyaka engu-10-20. Ngakho-ke, amaphothifoliyo abo okutshalwa kwezimali aphethwe amasheya emakethe ebanzi, futhi cishe yonke imikhakha yezomnotho imelwe kuyo.

Abatshalizimali abanolaka

Abatshalizimali abanjalo bazama ukuthola ngokushesha imbuyiselo ephezulu, ngakho-ke baya kalula ekudonseleni phansi kwephothifoliyo yabo yokutshala imali. Kubatshalizimali abanjalo, ukuhlukahluka kuzoba kutshalomali lwebhizinisi. [i-id yamagama-ncazo = “okunamathiselwe_11994″ align=”aligncenter” wide=”450″]
Iphothifoliyo yokutshalwa kwezimali eseyilungele ukwenziwa[/caption]

Ukutshalwa kwezimali kwe-Venture kuwutshalomali lapho kutshalwa khona imali kumaphrojekthi ambalwa athembisayo (kodwa ayingozi) ezigabeni zokuqala zokusungulwa kwawo.

Ngamathuba aphezulu, amaphrojekthi anjalo angu-8 kwangu-10 azohluleka. Kodwa imali engenayo etholwe kumaphrojekthi asetshenziswe ngempumelelo izovala ngokugcwele ukulahlekelwa futhi ilethe inzuzo enkulu.

Ungawakha kanjani iphothifoliyo yakho yokutshala imali

Ngakho-ke, ngaphambi kokuqala ukwakha iphothifoliyo yakho yokutshala imali, umhwebi/umtshalizimali kufanele anqume kuqala ngemigomo ayilandelayo kanye nesu azolisebenzisa. Imigomo ingahluka kakhulu – kusukela ekutholeni indawo (ifulethi, indlu, imoto ebizayo, njll.), ukukhokhela imfundo yezingane noma ukukhiqiza imali eyengeziwe ngemva kokuthatha umhlalaphansi. Isibonelo, umtshali-zimali oneminyaka engama-25-30 ubudala wanquma ukuzenzela isikhwama sempesheni. Uneminyaka engama-30-40 ngaphambi kwakhe. Ngakho-ke, kufanele enze iphothifoliyo yokutshalwa kwezimali yezimpahla esezibonise izinzuzo ezinhle nezizinzile esikhathini eside. Ngasikhathi sinye, ngisho nokwehla okuthile kwamasheya, isikhashana, ngeke kuthinte ikakhulukazi iphothifoliyo enjalo, ngoba kuzoba nesikhathi esanele ngaphambili, ukuze bazinze futhi baqhubeke nokukhula. Ngesikhathi esifanayo, uma isikhathi sokutshala izimali sisifushane, iminyaka engu-2-4, khona-ke iphothifoliyo yabo yakhiwe kangcono kusuka esitokisini esinozinzo oluphezulu, nakuba ingenayo izinga eliphezulu lemali engenayo (imvamisa lezi ziyizibopho ”
ama-blue chips “). Ngemva kokuba imigomo nezindlela sezinqunyiwe, umtshali-zimali uqala ukwakha iphothifoliyo, ekhetha izimpahla azidingayo ngemingcele efanele. Ngalesi sikhathi, ungaphendukela kumazinga amaningana okuhlukahluka ngesikhathi esisodwa:

Ngomkhakha wezomnotho

Okungukuthi, nakuba kunemibandela, ihlukaniswe yaba yizinzile ezinembuyiselo ezinzile. Futhi ezintsha, ezinezinga eliphezulu lokuqamba izinto ezintsha, ezithwala izingozi, kodwa ngokutshalwa kwezimali okuphumelelayo, zingaletha imali ephezulu kakhulu kulabo ababone amandla abo ngesikhathi.

Ngezinkampani

Ukutholwa kwamasheya ezinkampani ezithile. Inketho edinga ukuthi umtshali-zimali abe nolwazi olujulile ngezimo zemakethe, ikhono lokuzulazula ezinkomba kanye nomuzwa ojulile. Uma uthenga izibambiso, kufanele unake iqiniso lokuthi impahla eyodwa ayithathi ngaphezu kuka-10% we-investment portfolio, futhi umkhakha owodwa womnotho aweqi ama-20%. Ukuhlukanisa iphothifoliyo yakho yokutshala imali ngamagama alula: https://youtu.be/CA7d9VSi7NE

Iyini ingqikithi yokuhlukahluka uma utshala imali

Ithiyori “yephothifoliyo” eyamukelwa namuhla iyindlela ekuvumela ukuthi ukhethe izimpahla eziletha imali engenayo ephezulu kakhulu enezingozi ezincane. Ngokusho kwakhe, ukuze ulawule ngempumelelo ubungozi ekutshalweni kwezimali, umuntu angatshala ngokuhlukahluka. Ngakho-ke, uma uhlanganisa amafa ayingozi futhi azinzile, ungakha iphothifoliyo elinganiselayo. Isibonelo, kanye namasheya, ungathenga namabhondi. Ngesikhathi esifanayo, ingozi yonke yokutshalwa kwezimali izoba ngaphansi kakhulu kunasesimeni sokuthenga amathuluzi angawodwana. Ithiyori iphinde ithi impahla kumele ifaniswe emikhakheni yezomnotho engahlobene ngokuphelele. Isibonelo, ake sithi inani lezinye izibambiso lehla kakhulu ngenxa yokwenyuka kwamanani ezinto ezithile zokusetshenziswa, kuyilapho ezinye zikhuphuka kakhulu. [i-id yamagama-ncazo = “okunamathiselwe_12003” align = “aligncenter”
Izinhlobo zezingozi ekwakhekeni kwephothifoliyo yokutshala imali – emaphakathi, ebhalansile, enolaka [/ amazwibela]

Ukuhlukanisa Iphothifoliyo Ye-Inversion – Izinzuzo Nezingozi

Njenganoma yikuphi ukuhamba komsebenzi, ukuhlukahluka kunezinzuzo nezingozi zako.

Izinzuzo Zokuhlukahluka

Izinzuzo ezingangabazeki zokuhlukahluka zihlanganisa:

1. Ukunciphisa izingozi zibe sezingeni elamukelekayo . Amathuba okuthi umtshali-zimali azolahlekelwa imali eningi ancishiswe kakhulu.
2. Ithuba lokuthi umtshali-zimali atshale ingxenye yezimali ezimpahleni eziyingozi, kodwa ezinenzuzo enkulu . Ku-investment portfolio ehlukahlukene, izimpahla ezinjalo ngeke zikhuphule izinga lobungozi.
3. Ukuvikelwa ekuguquguqukeni okuphezulu kwezimakethe.
4. Ngokuhamba kwesikhathi, ingakhuphula imbuyiselo iyonke kuphothifoliyo yokutshalwa kwezimali .

I-Cons of Diversification

Okubi kokuhlukahluka kufaka:

1. Ngeke ivikele ezingozini zesistimu ezithinta zonke izibambiso ezimakethe.
2. Ubunzima bokuphatha iphothifoliyo yokutshalwa kwezimali, ngoba uma izimpahla eziningi ziqukethe, kuba nzima kakhulu ukuzilawula.
3. Amakhomishana akhulayo, izibambiso ezengeziwe umtshali-zimali athenga, amakhomishini amaningi okufanele awakhokhe.
4. Ukuhlukahluka okudlulele kunganciphisa kakhulu ukubuyiselwa kwephothifoliyo.
5. Amathuba okuthola imali alinganiselwe esikhathini esifushane.

Ukuthi ukuhlukahluka kukuthinta kanjani ukwethembeka kwephothifoliyo yokutshala imali kanye nendlela yokwabiwa kwempahla efanele: https://youtu.be/GH6e9aY2BOI

Ingabe zikhona izibonelo zamaphothifoliyo okutshala izimali abhalansiswe ngokugcwele

Ososayensi nabatshalizimali kudala bezama ukwakha iphothifoliyo yokutshalwa kwezimali “ekahle” eqinisekisiwe ukuthi izohlinzeka ngembuyiselo ephezulu kuyilapho inciphisa ngokuphelele noma yiziphi izingozi. Kodwa iphothifoliyo enjalo ingenzeka kuphela emhlabeni “okahle”, futhi njengoba abatshalizimali kufanele basebenze neqiniso, kuzokwazi ukuthola ukuthi iyiphi iphothifoliyo ezoba nenzuzo kakhulu eminyakeni eyishumi kuphela ngemva kweminyaka eyishumi. Umnotho wezwe uhlala ushintsha futhi ezinye zezinguquko zawo akunakwenzeka neze ukubikezela. Ngakho-ke, abatshalizimali akufanele bachithe isikhathi sabo befuna iphothifoliyo yokutshala “ekahle”. Futhi kufanelekile ukuqoqa iphothifoliyo ehlangabezana ngokugcwele nezimo ezikhona ezimakethe zamasheya, bese uqala ukusebenza nayo. Ukuze uthole ukuqonda okunembe kakhudlwana nokuphelele kwezimpawu zomhlaba, Kuyafaneleka ukucabangela ezinye zezinhlobo ezidume kakhulu zamaphothifoliyo okutshalwa kwezimali abhalansile. [i-id yamagama-ncazo = “okunamathiselwe_12615” align = “aligncenter” wide = “444”]
Isibonelo samaphothifoliyo otshalomali abhalansiswe ngokugcwele[/caption]

Uhlobo lwephothifoliyo yokutshala imali – “perpetual portfolio”

Lolu hlobo luvele ekuqaleni kweminyaka yama-70s wekhulunyaka elidlule futhi luwuhlobo olulula kakhulu lwephothifoliyo yokutshala imali ebhalansisiwe.Kuphothifoliyo
enjalo, zonke izimali ezitshaliwe zomtshali-zimali zihlukaniswa zibe izingxenye ezine ezilinganayo futhi zitshalwe kumabhondi, igolide, izimali kanye namasheya. Ngesikhathi esifanayo, impahla ngayinye ibala ingxenye yesine yayo yonke imali etshaliwe. Kalula nje, uma inani lokutshalwa kwezimali ekutshalweni kwezimali laliyizigidi ezingu-10, impahla ngayinye ibalwa ezigidini ezingu-2.5, ngokulandelana. [i-id yamagama-ncazo = “okunamathiselwe_11983″ align=”aligncenter” wide=”624″] Ungawadalela
kanjani umuntu ngamunye iphothifoliyo yokutshala imali kusukela ekuqaleni – kuyini ukuhlukahluka kwephothifoliyo yokutshala imali ngomkhakha[/caption]

Uhlobo lwephothifoliyo yokutshala imali – 50 kuya ku-50

Kulo mgodlagodla, u-50% wezimali ezitshaliwe utshalwe ekuthengeni amasheya kanye no-50% kumabhondi. Ngesikhathi esifanayo, izimpahla ezitholwe ngaphakathi nazo zihlukene, ngakho-ke uma iningi lamasheya liphethwe izinkampani zaseMelika, khona-ke kumabhondi ingxenye ebaluleke kakhulu ingeyamabhizinisi aseShayina noma aseRussia.
Isibonelo: Amasheya enani lamaphesenti angamashumi amahlanu ephothifoliyo:

• I-TSPX (ama-chips aluhlaza ase-US) – 30%
• I-TMOS (ama-chips aluhlaza okwesibhakabhaka aseRussia) – 5%
• I-VTBE (amasheya ezinkampani kwamanye amazwe) -15%
• Amabhondi enani lamaphesenti angamashumi amahlanu ephothifoliyo:
• I-OFZ (amabhondi oMnyango Wezezimali weRussian Federation) – 30%
• I-FXRU (izibopho zemali zezinkampani zaseRussia) – 10%
• I-FXRB (amabhondi emali yenkampani yaseRussia enokuvikelwa ekushintsheni izinga lokushintshaniswa) – 10%.

Uhlobo lwephothifoliyo yokutshalwa kwezimali – “Iphothifoliyo ethuthukisiwe”

Lolu hlobo lunokufana okuyingxenye “nephothifoliyo yaphakade”, kodwa futhi linomehluko omkhulu kulo. Okokuqala, kuhlanganisa ukutshalwa kwezimali ku-real estate kanye nalokho okubizwa ngokuthi okunye – i-cryptocurrency, izinhlamvu zemali, izitembu, imisebenzi yobuciko, izinto zakudala.
Kungase kubukeke kanje:

• Ukuba nezabelo – 25%.
• Iphakheji yebhondi – 25%.
• Izinsimbi eziyigugu – 20%.
• Izindlu ezithengiswayo – 20%.
• Okunye ukutshalwa kwezimali okuhlukile – 10%.

[i-id yamagama-ncazo = “okunamathiselwe_11982″ align=”aligncenter” wide=”624″]
Iphothifoliyo yokutshalwa kwezimali ezinkampanini zasekhaya nezangaphandle[/caption]

Uhlobo lwephothifoliyo yokutshala imali – “Currency portfolio”

Iphothifoliyo enjalo yokutshalwa kwezimali iqukethe izinhlobo zemali kuphela futhi ayifanele ukukhiqiza imali engenayo yangempela eyengeziwe noma ukuqongelela imali. Kodwa iphothifoliyo enjalo inhle ekulondolozeni izimali ezitshaliwe. Futhi, uma umtshali-zimali ehlela ukwenza izindleko zakhe zesikhathi esizayo kulephothifoliyo, asikho isidingo sokwenza ukuguqulwa kwemali.
Ungawakha kanjani iphothifoliyo yokutshala imali, ukuhlukahluka kwephothifoliyo, ukwabiwa kwempahla: https://youtu.be/L6AzLPWEUZI

Ukulinganisa kabusha kuyindlela yokuvimbela ukwanda kwezingozi zephothifoliyo yokutshala izimali

Enqubweni yomsebenzi, isilinganiso sempahla ngaphakathi kwephothifoliyo yokutshalwa kwezimali singashintsha kakhulu. Lokhu kwenzeka ngenxa yokuthi inani lezimpahla ezihlukahlukene kuphothifoliyo liyahlukahluka ngokungalingani. Ezinye zazo zizokhuphuka intengo ngokushesha okukhulu, futhi uma kungekho sinyathelo esithathwayo, khona-ke ngesikhathi esithile kungase kwenzeke ukuthi isigaba esisodwa kuphela sempahla sizoqala ukubala iningi lenani lephothifoliyo yokutshala izimali. Futhi ngokwemvelo, ngenxa yokungalingani okunjalo kuphothifoliyo yokutshala izimali, izingozi zizokwanda. Ukuze ugweme isimo esinjalo, umtshali-zimali udinga ukuthi ngezikhathi ezithile alinganisele iphothifoliyo yakhe yokutshala imali. Kungani kudingekile ukuthatha inzuzo ezimpahleni ezikhulayo futhi usebenzise la manani ukuze uthole izimpahla ezingakhuli ngokuqhubekayo noma ezincipha kuze kube yilapho iphothifoliyo ibhalansiswa futhi. Uma ibhalansi engaphakathi kwephothifoliyo yokutshala imali ishintsha ebangeni elincane (1–3%), akukho okungashintshwa kuphothifoliyo. Uma ibhalansi iphazanyiswa ngaphezu kuka-10%, ngakho-ke kuyadingeka ukulinganisa kabusha iphothifoliyo futhi uyibuyisele ezingeni langempela lesilinganiso sempahla.
Njengesibonelo:
Ake sithi iphothifoliyo yokuqala yomtshali-zimali inenani le-stock to bond lama-70/30. Ingxenye ehlukene yamasheya ikhule ngentengo, futhi manje lesi silinganiso sesivele singu-80/20. Ukuze ubuyisele iphothifoliyo kubhalansi yayo yasekuqaleni, umtshali-zimali kufanele athenge amabhondi amaningi noma adayise amanye amasheya. Ngesikhathi esifanayo, kufanele kukhunjulwe ukuthi inhloso yokulinganisa kabusha akukhona ukwandisa inzuzo yephothifoliyo yokutshala izimali, kodwa ukunciphisa izingozi ezingase zibe khona.