Ingqungquthela yokuKhutshwa phakathi kweeKlasi zeAset
Isixa-mali somntu-mali-mali esetyenziswe kwiklasi nganye sinqunywe ngumzekelo wesabelo se- asethi . Ezi mifanekiso zenzelwe ukubonakalisa iinjongo zobuqu kunye nokunyamezela komngcali-mngcipheko . Ukongezelela, iiklasi zee-asethi zingabelana ngokwahlukileyo kumacandelo (umzekelo, ukuba imodeli yokwabiwa kwempahla ibonisa ukuba i-40% yepototfolio yenziweyo iya kutyalwa kwiimpahla, umphathi weepotfoliyo angancoma izabelo ezahlukeneyo kwintsimi yeempahla, ezifana Ukucebisa ipesenti ethile kwi-cap-large, cap-middle, ibhanki, umveliso, njl.)
I-Asset Allocation Model echongiwe nguNcedo
Nangona iiminyaka zembali ziye zafakazela ngokucacileyo ukuba kunenzuzo enkulu yokuba ngumnini weMelika (i-., Iitoksi), kunokuba umbolekisi (viz., Iibhondi), kukho amaxesha apho amaxabiso angabonakali xa kuthelekiswa namanye amaqela asethi (cinga ngasekupheleni kwe-1999 xa amaxabiso esitokisi aye ephakamileyo kakhulu ukuvunyanwa kwemali engenayo yayingekho) okanye ahambelani neenjongo ezithile okanye iimfuno zomnikazi wepottoliyo.
Ngokomzekelo, umhlolokazi, kunye nesigidi esisodwa seerandi ukutyalomali kwaye akukho nenye imvelaphi yengeniso iya kufuna ukubeka inxalenye ebalulekileyo yobutyebi bayo kwimimiselo engeniso engenayo eya kuvelisa umthombo osisigxina wokufumana umhlala-phantsi kumhlala-phantsi wobomi bakhe. Isidingo sakhe akukona ukuba sikhulise umthamo wakhe, kodwa silondoloze oko anako xa ephila kwimali.
Umqeshwa omncinci osesikweni ngaphandle kwikholeji, nangona kunjalo, uya kuba nomdla kakhulu ekwakheni ubutyebi . Unako ukunyamekela ukuguqulwa kweemarike ngenxa yokuba akaxhomekeke ekutyaleni kwakhe ukuhlawula iindleko zokuphila imihla ngemihla. Iphothifoliyo ekugxininiswe kakhulu kwiimpahla, phantsi kweemeko zemarike ezifanelekileyo, iyona ndlela ingcono kakhulu kulolu hlobo lomtyalo-mali.
Iimodeli zokwabiwa kweeAset
Uninzi lweempahla zokwabiwa kweempahla ziwela kwindawo enye phakathi kweenjongo ezine: ukugcinwa kwemali, inzuzo, ukulinganisela okanye ukukhula.
Umzekelo 1 - Ukugcinwa kweNkunzi
Iimodeli zokwabiwa kwee- asethi ezenzelwe ukugcinwa kwemali enkulu kuxhomekeke kulabo abalindele ukusebenzisa imali yabo kwiinyanga ezilishumi elinesibini alandelayo kwaye abafuni ukubeka ingozi ekulahlekelweni kwanokuba ipesenti encinci yexabiso eliyinhloko ngenjongo yokufumana imali eyinzuzo. Abatyalomali abaceba ukuhlawula iikholeji, ukuthenga indlu okanye ukufumana ishishini yimimiselo yabantu abaza kufuna le ndlela yolwabiwo-mali. Iimali kunye neemali zemali ezifana neemarike zemali , ubuncwane, kunye nephepha lokuthengisa zihlala ziqulunqa ngaphezulu kweesibhozo ezingamashumi asibhozo kwezi zikhundla. Ingozi enkulu kukuba ukubuyiswa okufunyenweyo akunakuqhubeka nokuhamba kwamanani emali, ukuphazamisa amandla okuthenga ngokuchanekileyo.
Umzekelo 2 - Ingeniso
Iipolfoliyo eziye zenzelwe ukuvelisa umvuzo kubanini babo zihlala zibandakanya ubhaliso-mali, izibophelelo ezingenakunqwenelekayo zenkampani ezinkulu, inzuzo, iindawo ezihlala zihlala (ngohlobo oluqhelekileyo ngendlela ye- Real Estate Investment Trusts, okanye i-REIT ), amanqaku okugcina imali , kwaye, ukuze ubuncinci, izabelo zeenkampani ze-blue-chip ezineembali ezinde zeentlawulo eziqhubekayo. Umtyalo-mali oqhelekileyo wokufumana imali ngumntu osondela kumhlalaphantsi. Omnye umzekelo uya kuba ngumhlolokazi osemncinci onabantwana abancinci abafumana isisombululo esisisiseko kumgaqo-nkqubo womshuwalense wakhe wobomi kwaye akanakubeka ingozi ekulahlekelweni kwenqununu; nangona ukukhula bekuya kuba kuhle, imfuneko yokufumana imali kwizindleko zokuphila ibaluleke kakhulu.
Umzekelo 3 - ulinganise
Ingqamaniso phakathi kwemali engenayo kunye nokukhula kwee-asethi zemihlaba yendawo yokunikezelwa kwee-asethi yi-compromise eyaziwa njenge- portfolio elinganisiweyo .
Kwabaninzi abantu, iphothifoliyo elinganisiweyo yinto engcono kakhulu kungekhona ngezizathu zemali, kodwa ngenxa yemvakalelo. Iiphothifoliyo ezisekelwe kulo mzekelo umzamo wokutshatyalaliswa kokunciphisa phakathi kokukhula kwexesha elide kunye nengeniso yangoku. Isiphumo esihle kukuba udibaniso lweempahla ezivelisa imali kunye nokuxabisa ngokuhamba kwexesha kunye nokuncitshulwa okuncinci kwintengo yeqununu ecatshulwe ngaphezu kwepotfolio. Iiphothifoliyo ezilinganisiweyo zikwahlula ukwabiwa kwempahla phakathi kwexesha elide lotyalo-mali-mboleko kunye nezabelo zamasheya afanayo kwiinkampani ezihamba phambili, ezininzi zazo zingahlawula igalelo zemali . Izakhiwo zezindlu zangaphandle nge-REIT zihlala ziyinxalenye. Ngokona nxalenye, iphothifoliyo enokulinganisela isoloko ifunyenwe (intsingiselo encinci ibanjwe ngekheshi okanye imali efana nemali ngaphandle kokuba umphathi weepotfoliyo uyaqiniseka ngokupheleleyo ukuba akukho namathuba amnandi abonisa izinga elimkelekileyo lomngcipheko.)
Umzekelo 4 - Ukukhula
Ukukhula kweempahla zenzelwe abo baqala nje imisebenzi yabo kwaye banomdla ekwakheni ubutyebi besikhathi eside. Iimpahla azidingeki ukuvelisa ingeniso yangoku kuba umninimzi oqeshwe ngokunyanisekileyo, ehlala kwimvuzo wakhe ngeendleko ezifunekayo. Ngokungafani nephothifoliyo engenayo, umtyalo-mali unokunyusa isikhundla sakhe ngamnye ngonyaka ngokufaka imali eyongezelelweyo. Kwiimarike zeenkomo, iipotfoliyo zokukhula zithatha ngokugqithiseleyo ukulingana kwazo; kwiimakethe zeebhere , zizona zibethe kanzima. Ngokona nxalenye, ukuya kwikhulu leepesenti zokukhula kweepotfoliyo ziyakutyaliswa kwiimpahla eziqhelekileyo, inxalenye eninzi ayinakho ukuhlawula igalelo kwaye incinci. Abaphathi beepolfoliyo bahlala befuna ukubandakanya icandelo lokulingana ngamazwe ngamazwe ukubonisa umtyalo-mali kumanye amazwe ngaphandle kwe-United States.
Ukutshintsha ngexesha
Umtyalo-mali osebenza ngobuchule kwisicwangciso-mali sokwabiwa kwempahla uya kufumana ukuba iimfuno zakhe zitshintshe njengoko zihamba kwiinqanaba ezahlukeneyo zobomi. Ngenxa yeso sizathu, abanye abaphathi bezemali bancoma ukuba batshintshe ingxenye yezinto zakho kwiimodeli ezahlukeneyo kwiminyaka emininzi ngaphambi kokuba utshintsho olukhulu lobomi. Umtyalomali oneminyaka elishumi kude nomhlalaphantsi, umzekelo, uya kufumana ukuthutha i-10% yesibambiso sakhe kwisabelo-mali esabelwe umvuzo ngamnye ngonyaka. Ngethuba elithatha umhlalaphantsi, yonke iphothifoliyo iya kubonisa iinjongo zayo ezintsha.
Ukuphikisana ngokutsha
Enye yezinto ezidume kakhulu kwi-Wall Street "ukubalinganiswa" kwipotifoliyo. Amaninzi amaninzi, oku kubangela ukuba enye iklasi ye-asethi okanye utyalo-mali uye waqhubela phambili, ezayo ukumela isabelo esibalulekileyo sobutyebi-mali. Ukubuyisela iiphothifoliyo ngokulinganisela kunye nomzekelo oyimiselo oyimfuneko, umphathi weepotfoliyo uya kuthengisa inxalenye yexabiso lexabiso kunye nokubuyisela imali. Umphathi we-joint mutual fund u-Peter Lynch ubiza lo mkhuba, "ukusika iintyatyambo kunye nokuthambisa ukhula."
Yintoni umtyalo-mali oyenzayo? Ngakolunye uhlangothi, sinesiluleko esinikezwe ngabanye abalawuli abalawulayo baseTweedy Browne kumxhasi ophethe i-$ 30 yezigidi kwi-Berkshire Hathaway stock eminyakeni emininzi edlulileyo. Xa ebuzwa ukuba kufuneka athengise, impendulo yakhe yayikuthi (ichazwe), "ngaba kukho utshintsho kwizinto ezisemgangathweni ezenza ukholelwe ukuba utsalo-mali alukhangelekanga?" Watsho kwaye akagcinanga isitokisi. Namhlanje, isikhundla sakhe sifanele izigidi eziligidi zeedola. Ngakolunye uhlangothi, sinamacala afana neWorldcom kunye ne-Enron apho abatyali-mali balahlekelwa yonke into.
Mhlawumbi isiluleko esilungileyo sinokubeka kuphela isikhundla ukuba unako ukuvavanya i-shishini, ngokuqinisekileyo ukuba izinto ezisemgangathweni zikhangeleka, kholelwa ukuba inkampani inomsebenzi omkhulu wokukhuphisana , kwaye ukhululekile ngokuxhomekeka ngakumbi kwindlela yokusebenza olunye utsalo-mali. Ukuba awukwazi okanye ungafuni ukuzinikela kwiinkqubo zokubaluleka, usenokungcono uhanjiswe ngokuphindaphinda.
Ulwabiwo lweeAfa kuphela aluvumelekile
Abanini-zimali abaninzi bakholelwa ukuba ngokunciphisa impahla kwiimodeli zokwabiwa ezimiselweyo kuya kunciphisa isidingo sokusebenzisa ingqiqo ekukhetheni imiba ethile. Kuyingozi. Abatyalomali abangenako ukuvavanya ishishini ngokulinganisela okanye ngokulinganayo kufuneka baqinisekise ngokucacileyo kumphathi wabo weepotfoliyo ukuba banomdla kuphela kwiimali-mali ezikhethiweyo ngokuzikhethela , kungakhathaliseki ubuncinane okanye ubuncwane bezinga (ngolwazi oluninzi malunga neemvavanyo ezithile ezifunekayo ngamnye ukhuseleko lwezokhuseleko, funda iimvavanyo ezixhenxe zoKhetho lokuSetyenziswa ngokuVikelekileyo.