Izibondlo eziPhezulu eziPhakamileyo: Iinkcukacha zeNtsebenzo zeMbali

Unyaka-ngonyaka-i-Return Returns ukususela ngo-1980 ukuya ku-2013

Kunzima kakhulu ukufumana iimbuyekezo zonyaka ngemarike ye-bond-bond ephezulu, kwaye ayiyinqaba xa ucinga ngako. Eli liqela lexabiso kunye nemali eninzi etyalomali kuyo. Ukuba unomdla ekuboneni ukuba izibophelelo eziphezulu eziye zenziwa ngaphaya kwexesha, le tafile ibonisa ukubuyela kodidi ngalunye ngonyaka ukususela ngo-1980 ukuya ku-2013. Kubandakanya ukusebenza kwayo ngokumalunga nezitokethi njengoko kulandelwe yi-S & P 500 Index, kunye iibhondi zebhanti-mali-mali njengoko zilinganiswe yi-Barclays Aggregate Bond Index.

Ukubuyiswa kweemveliso eziphezulu zimelelwa nguSolomon Smith Barney High Yield Composite Index ukususela ngo-1980 ukuya ku-2002, kunye ne-Credit Suisse High Yield Index ukususela ngo-2003 ukuya phambili.

Unyaka HY Bonds Investment-Bakala Amasheya
1980 -1.00% 2.71% 32.50%
1981 7.56% 6.26% -4.92%
1982 32.45% 32.65% 21.55%
1983 21.80% 8.19% 22.56%
1984 8.50% 15.15% 6.27%
1985 26.08% 22.13% 31.73%
1986 16.50% 15.30% 18.67%
1987 4.57% 2.75% 5.25%
1988 15.25% 7.89% 16.61%
1989 1.98 14.53% 31.69%
1990 -8.46% 8.96% -3.11%
1991 43.23% 16.00% 30.47%
1992 18.29% 7.40% 7.62%
1993 18.33% 9.75% 10.08%
1994 -2.55% -2.92% 1.32%
1995 22.40% 18.46% 37.58%
1996 11.24% 3.64% 22.96%
1997 14.27% 9.64% 33.36%
1998 4.04% 8.70% 28.58%
1999 1.73% -0.82% 21.04%
2000 -5.68% 11.63% -9.11%
2001 5.44% 8.43% -11.89%
2002 -1.53% 10.26% -22.10%
2003 27.94% 4.10% 28.68%
2004 11.95% 4.34% 10.88%
2005 2.26% 2.43% 4.91%
2006 11.92% 4.33% 15.79%
2007 2.65% 6.97% 5.49%
2008 -26.17% 5.24% -37.00%
2009 54.22% 5.93% 26.46%
2010 14.42% 6.54% 15.06%
2011 5.47% 7.84% 2.11%
2012 14.72% 4.22% 16.00%
2013 7.53% -2.02%

32.39%

Izinto Zembali Zokukhumbula

Gcina izinto ezimbalwa zembali ngendlela ebonakalayo xa ukhangela le ntlawulo. Okokuqala, kwakukho ukuphakanyiswa okuphakamileyo "kweengelosi eziwileyo" -kuquka imiba ye -investment-grade issues engena kwintsimi engaphantsi kwelokutshala imali- ezinsukwini zokuqala zeemarike ezithengayo eziphezulu kunokuba zikhoyo namhlanje.

Kwakukho ukumelwa okuphantsi kwemiba evela kumgangatho weenkampani ezincinci ezenza ubuninzi beemarike ngoku.

Okwesibini, yonke iminyaka yokuhlawulela isivuno esiphezulu yayihamba kunye nezoqoqosho ezithintekayo ngo-1980, 1990, 1994, no-2000, okanye ngoxinzelelo lwemali ngo-2002 no-2008.

Okwesithathu, izivuno zaziphakame kakhulu kwixesha elidlulileyo kunokuba zikhona namhlanje. Nangona isivuno esipheleleyo sichitha ixesha elide le-2012-2013 ngaphantsi kweepesenti ezingama-7.5 kwaye zafikelela ngaphantsi njenge-5.2 ukuya kuma-5.4 epesenti ngo-Ephreli no-Meyi 2013, ezi nqanaba zazingenakuvakala kwimihla yangaphambili. Ixesha le-1980-1990 ngokuqhelekileyo lalibona izivuno kwiminyaka elishumi. Ngaphandle kwee-lows ekupheleni kwee-1990s, izibophelelo eziphezulu zivelisa i-8 ukuya kwi-9 ekhulwini. Ngexesha lonyaka we-2004-2007, isivuno sasiqhutywe kufuphi ne-7.5 ukuya kweyesi-8 ekhulwini, okwakubhalwe phantsi kwiirekhodi. Izibophelelo eziphezulu zivunyenwe zihlawulela isivuno esiphezulu kunokuba senza ngoku.

Ukuthabatha okuphindwe kabini. Izibophelelo eziphakamileyo eziphezulu zineziphumo eziphezulu zokubuya ngenxa yegalelo elikhulu ukusuka kwisivuno ukuya kubuyonke , kwaye kwakukho elinye indawo yokuxabisa intengo. Khumbula ukuba ixabiso lamabhondi kunye nezivuno zihamba kwindlela echaseneyo. Ngenxa yoko, abantu abatyala imali kwiklasi ye-asethi namhlanje abayikulindela ukuphinda uhlobo lokubuyiswa kuboniswe ngasentla.

Sekunjalo, la manani abonisa ukuba izibophelelo eziphezulu zivelise ngokuphindaphindiweyo ngokuphindaphindiweyo.