We are starting a series of publications, в какой консультанты по управлению капиталом команды Индивидуальные Brokers посодействуют разобраться, how to form a long portfolio and not be distracted by news noise. 1-1st topic - investment risk.
Some financiers are stressed, when the price of the knapsack goes down by five percent. The rest can not get away from non-dangerous deposits, and the securities market is presented as something tricky and dangerous. If you are one of them, think about this: market risk is almost always a short-term phenomenon. AND, may be, еще опаснее быть вне рынка.
So that the risk does not interfere with reasonable investments, need to be aware, where does it come from, как его определять и как им управлять.
Is it possible to do without risk?
Imagine a world without risk. Schedule компании А очевидно опережает график компании Б. Everyone wants to invest in A, nobody even thinks about B. Attachments B disappear as a class, everyone is happy to invest in A and get similar efficiency. There is one "but" in this risk-free picture of the world: никто не может получить больше высшую эффективность.
Now let's imagine the second state of affairs, at which the schedule of company A jumps, and the schedule of company B is growing at a measured pace. Now investments B imply a recognizable result in advance., and attachments A include the degree of ambiguity. При всем этом А могут принести больше высшую эффективность.
There is no correct choice in the 2nd case. Some financiers will prefer low risk and lower efficiency. The rest will take a chance and, may be, will win. Risk taking distinguishes investment from savings. Taking risk is understanding, that there are good days and bad days in the market. Однако нехорошие дни — тоже часть вкладывательной тактики.
Where does the risk come from??
Consider the sources of risk. In theory, they may be 6:
1. Business risk - when the company goes to zero, её акции и облигации больше ничего не стоят.
2. Рыночный риск — даже мощная компания на падающем рынке будет падать вместе со всеми.
3. Риск процентной ставки — когда цена облигаций меняется назад пропорционально процентной ставке.
4. Inflation risk - when your investment does not outpace inflation, а покупательская способность падает.
5. Денежный риск — когда зарубежные активы меняются в стоимости вместе со скачками обменного курса.
6. Политический риск — когда финансовому климату наносят вред деяния правительств различных государств.
In practice, there is still another risk.: financier's behavior. There is a section in economics, which is dedicated to the study of, как поведение личных финансистов оказывает влияние на показатели их работе и на рынки в общем.
Risk is part of the investment process. Any financier, supposing??, that got rid of the risk, just changed the risk, which he is aware of the risk, which he is not aware of. You can also boycott risk. For instance, knowingly not enough to assess harm, который инфляция наносит вложениям с фиксированным доходом.
What to do in a falling market?
In the real world, financiers represent risk in different ways. Almost everyone thinks about the irrecoverable loss of capital when they say “risk”. However, the loss of capital is when you thought, that there is an oil well in the backyard of your house, invested a million dollars in drilling, а нефти не оказалось.
Market Fluctuations Are Not Loss of Capital. If you stay away from the worst and don't sell securities in a falling market, no tragedy will happen. In the long term, the market will start to grow, and the financier - to increase efficiency. History indicates, what all, what is needed to increase capital, — сохранять выдержку.
The risk in stocks is closely related to the investment horizon, in other words, it directly depends on the time, for which it is necessary to achieve certain monetary objectives. Конкретно временной фактор необходимо учесть при разработке ранца для определенных потребностей.
No financier can eliminate investment risk, but there are ways to manage and mitigate each type of risk. В последующей публикации мы рассмотрим традиционные способы риск-руководства.
