Umlobi ngumntu okanye inkampani ebandakanyekayo kwishishini elinxulumene nempahla ethile. Ngokuqhelekileyo ungumvelisi wexabiso okanye inkampani efuna ukuthenga iimpahla kwixesha elizayo.
Naliphi na ilingo lizama ukunciphisa umngcipheko wabo ngokubhinqa kwiimarike zemveliso.
Umzekelo olula ukudibanisa nomlobi ungumlimi. Umlimi ukhula izityalo, izityalo zesoya , umzekelo, kwaye unomngcipheko wokuba intengo yeesyibhe iyancipha ngexesha elivuna izityalo zakhe ekuwa. Ngako oko, uya kufuna ukubeka umngcipheko wakhe ngokuthengisa i-soya yexesha elizayo, elithintela ngentengo yezityalo zakhe ekuqaleni kwexesha lokukhula.
Inkontileka yexesha le- soya kwi-CME Group exchange exchange consists of 5,000 bushels of soybeans. Ukuba umlimi ulindele ukuvelisa iibhasi zeesyayi ezingama-500 000, wayeza kuthengisa iikontraki ezili-100 zesoya.
Makhe sicinge ukuba intlawulo yeesyibha iyithengisa nge-$ 13. Ukuba umlimi uyazi ukuba angayifumana inzuzo kwi-10, kungabulumko ukuba angene kwixabiso le-$ 13 ngokuthengisa (ukufutshane) kwiikontrakthi zexesha elizayo. Umngcipheko kukuba intlawulo yeesyayi ingawela ngaphantsi kweedola ezili-10 ngexesha elivunayo kwaye liyakwazi ukuthengisa izityalo zakhe kwiimarike zendawo.
Kukho njalo inokwenzeka ukuba iesyibha ziyakwazi ukunyuka kakhulu ngexesha lokuvuna. IiSoybe zisenokungena kwi-$ 16 kwaye umlimi angenza inzuzo enkulu. Okuchasene nako kwenzeka kwakhona - iintengo ze-soya itanki kunye nomlimi angabangela ukulahleka okukhulu. Inxalenye ephambili yoshishino iyaphila kwaye izuza inzuzo efanelekileyo, kungekhona imali enokuyenza xa ubeka ingqalelo emoyeni.
Yilokho ukugoceka konke malunga.
Ingxenye ezimbini ukuya kwiHedge
Kukho iinxalenye ezimbini ukuya kwinqaba. Isikhundla kwintengiso (isikhundla semali) esenziwa okanye kufuneka sithengiwe. Ngalunye uhlangothi yimeko kwiimarike ezizayo ukuba umlobi udala ukukhawulela umngcipheko.
Icandelo eliqhelekileyo kukuba esinye sezikhundla siya kuhambela umcebisi kwaye enye iya kuhamba nxamnye nomlobi. Uhlaselo olugqibeleleyo lwaluya kubakho ukujikeleza kwintambo ekungatshintshi ngaso sonke ixesha ngexesha lokhohlo. Oku kuya kwenza ukuba umgcini-mgcini angabikho ngcono okanye angabi nakwexesha eligqithisiweyo xa kuthengiswa izinto ezigqityiweyo okanye kuthengiswa.
I-Ins ne-Outs of Hedging
Uninzi lwabantu luya kucinga ukuba abadibanisi beza kuqalisela udoti ngokukhawuleza ukuba bakwazi ukuqinisekisa ukuba abanalo mngcipheko wokuba amanani angenza inzondo ngaphambi kokuthenga okanye ukuhambisa impahla. Nangona kunjalo, oko kudla ngokude kwimeko eqhelekileyo.
Ezinye iikhampani azithengisi okanye zincinci. Umzekelo omhle weli lixesha apho iinqwelo-moya ezinkulu zibanjwe zilele xa ixabiso leoli likhuphuka ukusuka kwi-30 ukuya kwii-dollar ezili-150. Iindiza ezininzi zeenqwelo-moya zalahlekelwa yilahleko enkulu kwaye ezinye zagqitywa ngenxa yeendleko eziphezulu zeoli.
Ukuba bebekhuselekile ngokufanelekileyo, inxalenye enkulu yelahleko yayingagwenywa.
Baye bekufuneka bahlawule iindleko eziphezulu zepetroli, kodwa babeza kwenza inani elininzi leenzuzo kwiindawo ezizayo. Uninzi lweenqwelo zeenqwelo zeenqwelo-moya ngoku zikhuthele kakhulu ngokusetyenziswa kweprogram yokutyhila.
Abalimi, umzekelo, ngamanye amaxesha akayi kudibanisa de kube ngumzuzu wokugqibela. Ixabiso lentengo lihlala liphakama phezulu kwixesha likaJuni noJulayi kwisongelo sezulu. Ngeli xesha, abalimi babukela iintengo zihamba phezulu kwaye ziphakamileyo, zidla ngokunyuka. Ngamanye amaxesha alinde ixesha elide ukuba angenise amaxabiso aphezulu kunye namaxabiso adle. Enyanisweni, aba bahlaziyi bajika baba ngabacebisi.
Isiqendu sokubanjelwa kweso sizathu sokuba ukuthengiswa kwexesha lokuthengwa kwemveliso kwasekuqaleni kwadalwa. Isona sisona sizathu esibalulekileyo sokuba kukho ukutshintshana kwexesha elizayo namhlanje. Abakwa-Hedgers abenzi uluhlu oluphambili lworhwebo, kodwa zizona zizathu ezibalulekileyo zokwenza intsebenziswano.
Abaqulunqi bakha inqwaba yevolontiyorhwebo kwaye ukutshintshisana kwakungeke kubekho ngaphandle kwabo.
Ukuhlaziywa kwiHedging by Andrew Hecht ngo-Ephreli 11, 2016
Esinye seziganeko ezibalulekileyo zeemarike zexesha elizayo, xa kuziwa ekubanjweni, kukho ukuguquka. Ukuguqulwa kukulungelelanisa intengo phakathi kwamaxabiso athile okuza kusondela kunye nemali okanye amanani okwenyama ngexesha lokunikezelwa kwangokwenyama. Oku kwenza iimarike zexesha elizayo zikhangele abakhiqizi kunye nabathengi kuba kunika umfanekiso oyinyaniso wexabiso abaya kufumana okanye ukuhlawula iimpahla ezibekwe.
Olunye uphawu olubalulekileyo lwabahlengahlengayo yikhono lokwenza okanye ukuthatha ukuhanjiswa kwangokwenyama. Ngamanye amazwi, umlimi unako amandla okwenene okanye ilungelo lokuhambisa loo mveliso kwaye umthengi unelungelo lokufumana loo mveliso ngenxa yesigxina sexesha elizayo kuze kube lixesha lokuhambisa kwaye ukhetha ukhetho lokuhambisa. Kukho iindleko ezongezelelweyo ezibandakanyekayo ekwenzeni okanye ekuthathweni kwezibonelelo kodwa ezo ndleko zivame ukutyunjwa.
Ekugqibeleni, ngelixa i-future exchange exchanges ifuna i-hedgers ukuba ihlawule umgama kwiimpawu zabo zexesha elizayo, amanqanaba emida amaninzi aphantsi kunokuba ngabaxeli-nye okanye abanye abathathi-nxaxheba bemarike. Isizathu sokuhlaselwa kwinqanaba elingaphantsi kwezentengiselwano njengento yokutshintshana lijonga lo mphakathi njengengozi engaphantsi kwelokuba bavelise okanye badle imveliso, ngoko ke banesimo kwizinto eziqhelekileyo ezikhubaza iindawo ezizayo. Umlobi kufuneka afake izicelo zeemilinganiselo ezikhethekileyo zemida ngokutshintshisiswa kwaye avunywe emva kweemfuno zokutshintshaniswa kwintlanganiso.