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Individual brokers help sort out, how to form a long-term portfolio and not be distracted by the news noise. You can read past articles by tag. Let's talk now, how to build an investment portfolio.
На тарифе specialist по управлению капиталом индивидуальный брокер — это тот, who provides professional support for investments: prepares a cash plan for the client, helps to form a portfolio and accompanies all the way of investing to achieve goals.
Arthur Bedzhanov, Individual broker
When building a knapsack, we must be aware, that we can control not so many reasons. We would like to plan investments with future events in mind, but in reality there is not much that we can predict. In retrospect, it doesn't matter which strategy has its drawbacks.
Therefore, the main task of long-term tactics is to bring the financier to a certain monetary result with less risks..
In the short term, any portfolio will at times seem "wrong" to us, and we will want to change our strategic decisions. For instance, in periods of an increasing market, you will want to have more stocks in your backpack, and during periods of falling - more money.
Good knapsack principles
1-the first principle of building a good knapsack is to select only liquid assets. So that, if necessary, we can realize part of the investment within a week. It means, what diamonds, rarest coins, silverware and antique cars will have to be excluded. As well as, it is worth giving up on specific instruments like futures and options. They come up for speculation, but not for a long pack.
Another asset class, which should be treated with caution is gold. Almost everyone includes gold in their backpacks due to low correlation with other asset classes. However, the best result is gold, usually, points in times of crises, when securities fall in value.
2-th principle of building a knapsack is to avoid investing in assets, which you are not good at. The more you stick to this rule, the best result you will see at the output.
60/40 - works or not
Let's analyze the construction of the knapsack using examples. A common asset allocation looks like this: sixty percent shares,40 % bonds. The elementary plan in this case would be to acquire the broad market index by sixty percent., and forty percent - the index of corporate and government-backed securities. With such a knapsack, rebalancing must be done 1 once a year. Despite the fact, that the strategy seems gullible and even clumsy, she works.
How to improve efficiency and reduce risk
Now let's try to complicate the contents of the backpack., to reduce hazards or increase efficiency. Long-term bonds should be inflated, as their holders are more likely to tempt fate. However, in reality, the effectiveness of bonds is weakly dependent on the term, therefore, long-term bonds can be easily swapped with short-term bonds.. So we will reduce the dangers of the knapsack.
Another option is to add more foreign stocks to the portfolio. For instance, not counting the index S&P 500 invest in the performance of companies in other advanced countries: Europe, Australia and Asia, so that the ratio of securities came out thirty percent / thirty percent. This way we will reduce the risk by expanding the range and increase the efficiency of the satchel.. This seeming miracle is explained by the low correlation of these indices with US stocks..
If we go further, you can dilute the shares of large organizations in advanced countries, of which indicators are composed, shares of small companies. For instance, bring the portfolio to this ratio: S&P 500 - fifteen percent, shares of small organizations from the USA - fifteen percent, shares of companies in other advanced countries - also fifteen percent, and fifteen percent of the shares of small foreign companies. This distribution improves the expansion of variability and increases efficiency..
The process of building a knapsack can be continued further, including assets of emerging markets or, for example, the property. The usefulness of the added asset classes is determined by the, how they reduce the risk or increase the efficiency of your backpack.
Another time we will talk about portfolio strategies..
If you have a portfolio of securities with a price of 3 RUB million, we advise you to conduct an audit - it is free of charge. You will receive the professional opinion of an individual broker, which was based on analytics from Argus Research and BCS Global Markets.
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