Mutsara wekutsvaga pakati peChikoro cheAsset
Nhamba yehuwandu wemari inoshandiswa muga yega yega yega inotariswa neavoset allocation model . Aya maenzaniso akarongedzwa kuratidzira zvinangwa zvehupenyu uye kushivirira kwemungozi wemuti wekutsvaga. Uyezve, mapoka ega ega ega anogona kugoverwa muzvikamu (somuenzaniso, kana asset allocation model inoda 40% yehuwandu hwemahofisi ose ekutsvaga muzvikwata, mutungamiri wemapurisa anokwanisa kuratidza zvakasiyana-siyana mumunda wematokisi, zvakadai kukurudzira imwe muzana muhombe-huru, mid-cap, banking, manufacturing, etc.)
Asset Allocation Model Yakagadziriswa Nezvinodiwa
Kunyange zvazvo makumi emakore ezvakaitika kare akaratidza pachena kuti inobatsira zvikuru kuva muridzi wemabhizimisi America (viz., Mashizha), panzvimbo pekuripa chikwereti (viz., Zvisungo), pane nguva apo zvikwereti hazvina kunaka kana zvichienzaniswa nedzimwe dzimba dzepfuma (funga kwakapera-1999 apo matengo ematokisi ainge awedzera zvakanyanya mari yezvibereko yaive isiripo) kana kuti haikwanise nezvinangwa kana zvido zvemuenzi weporofiti.
Chirikadzi, somuenzaniso, ine mamiriyoni emadhora ekuisa mari uye hapana imwe nzvimbo inowanikwa mari inoda kuisa chikamu chikuru cheupfumi hwayo muzvisungo zvakasununguka zvekuwana izvo zvichange zvichitora nguva yakakwana yekusarura mari yekusara kwehupenyu hwake hwakasara. Hosha yake haisi iyo yekuwedzera mambure ayo akakosha , asi kuchengetedza zvaainazvo paanenge achiri kurarama pane zvaanowana.
Mumwe mushandi mushandi wekambani kunze kwekoljiji, zvisinei, achange achida zvikuru pakuvaka upfumi . Anokwanisa kukanganwa kuchinja kwemusika nokuti haafaniri kuvimba nezvekutsvaga kwake kuti awane zuva rega rega mari yekugara. Imwe nyanzvi yemapurisa yakanyanyogadziriswa mumatokari, pasi pemamiriro ekutengeserana, ndiyo ndiyo nzira yakanakisisa yekutsvaga mari iyi.
Asset Allocation Models
Nzvimbo dzakawanda dzekugoverwa kwevashandi dzinowira kune imwe nzvimbo pakati pezvinangwa zvina: kuchengetedzwa kwemari, mari, kuenzanisa, kana kukura.
Muenzaniso 1 - Kuchengetedzwa kweGuta
Nhaka yekugoverwa kwenyika yakagadzirirwa kuchengetwa kwemari inonyanya kune avo vanotarisira kushandisa mari yavo mumwedzi gumi nemaviri inotevera uye havadi kuisa pangozi yekurasikirwa kunyange nezana shoma rekukosha kwekugona kwekuwana mari. Vashandi vanogadzirira pakubhadhara koroji, kutenga imba kana kuwana bhizimisi mienzaniso yevaya vaizoshandira rudzi urwu rwekugovera muenzaniso. Mari uye mari yakaenzana yakafanana nemisika yemari , mari yepfuma, uye pepanhau rebhizimisi rinowanzorongedza kusvika makumi masere pamapfumbamwe emahofisi aya. Dambudziko guru nderokuti kudzoka kunowanikwa hakugoni kuenderera mberi nekutengesa kwezvinhu, kushandura simba rekutenga nenzira chaiyo.
Muenzaniso wechipiri - Mari
Nzvimbo dzekugadziridza dzakagadzirirwa kupa mari kune vadzidzisi vadzo dzinowanzobatanidzwa nehuwandu hwekutsvaga mari, zvikwereti zvakagadziriswa zvemari zvezvikwereti, zvikwereti zvekubhadhara, dzimba (inowanzowanikwa mu Real Estate Investment Trust, kana REITs ), manotsi ekuchengetedza mari , uye, kuti, zvishoma, zvikamu zvebhizinesi-chip makambani ane nhoroondo dzakareba dzekuenderera mberi kwebhadharo. Iko inowanzoita mari inowanikwa mari inoshandiswa kune mari ndiyo imwe iri pedyo nekurasikirwa. Chimwe chiitiko chaizova chirikadzi yechidiki ine vana vaduku vachiwana kugadziriswa kwemari yehupenyu hwemurume wavo inshuwarisi yehupenyu uye haagoni kuisa pangozi yekurasa mutungamiriri; kunyange kukura kwaizova kwakanaka, kudiwa kwemari iri muruoko rwekushandisa mari kunokosha.
Muenzaniso 3 - Kuenzanisa
Nharaunda pakati pemari uye kukura kwezvinhu zvakagadziriswa mitero ndeyekugadzirisa kunozivikanwa sehuwandu hwepodfolio .
Kune vanhu vakawanda, kuenzanisa kwepodfolio ndiyo yakanakisisa kwete kwete nekuda kwezvikonzero zvemari, asi pamweya. Nzvimbo dzepamusoro dzinoenderana nemuenzaniso uyu unoedza kuratidzira kukanganisa pakati penguva refu yekukura uye ikozvino mari. Mhedzisiro yakanaka ndeye kusanganiswa kwezvinhu zvinowedzera mari pamwe nekukoshesa kwenguva yakareba nekuderera kwechidiki mubhuku rinokosha rinokosha kupfuura iyo yose-kukura kworuzhinji. Nzvimbo dzakasiyana-siyana dzinofanirwa kuparadzanisa zvinhu pakati pepakati-nguva yekutsvaga mabhizimisi-gwaro rakagadziriswa kusungirwa mari uye zvikamu zvezvikwata zvakafanana mumakambani anotungamirira, mazhinji ayo anogona kubhadhara mari inowanikwa . Nzvimbo dzekutengesa dzimba dzinowanikwa ne REIT dzinowanzova chikamu pamwe chete. Pamusoro pechikamu chikuru, chikamu chepamutemo chinowanikwa nguva dzose (zvinoreva zvishoma chaizvo zvakachengetwa mumari kana mari yakaenzana kunze kwekuti mutungamiri wemapatotiyo anonyatsogutsikana kuti hakuna mikana inofadza inoratidza hutano hwakanaka hwehutano.)
Muenzaniso 4 - Kukura
Iko kukura kweasset allocation model yakagadzirirwa kune avo vari kungotanga mabasa avo uye vanofarira pakuvaka pfuma yakareba kwenguva refu. Zvinhu hazvina kudiwa kuti zvive nemari yezvino mari nokuti muridzi wacho ari kushanda nesimba, achirarama kubva pamutengo wezvaanoda mari. Kusiyana nehuwandu hwekuwana mari, mutyairi anogona kunge achiwedzera nzvimbo yake gore roga roga nekuisa mari yakawedzerwa. Mumakwenzi emombe, kukura zvikwata zvinowanzosvibisa vamwe vavo zvakanyanya; mune misika yemagetsi , ndiyo yakaoma yakaoma. Kune chikamu chikuru, kusvika zana kubva muzana zvekukura kwemahofisi epodfolio kunogona kuiswa muzvikwata zvakafanana, chikamu chikuru chaicho chisingakwanisi kubhadhara zvikamu uye zvishoma. Vatungamiriri vemapatokota emagariro vanowanzoda kuisa mutengo wenyika dzakaenzana kuti varatidze mudyari kune dzimwe nyika kunze kweUnited States.
Kuchinja neIndaneti
Mumwe mutengesi ari kushingairira kuita sarudzo nzira ichawana kuti zvaanoda zvinoshanduka sezvavanenge vachifamba nenzira dzakasiyana-siyana dzehupenyu. Nokuda kwechikonzero ichocho, vamwe vatungamiri vemari vepamusoro vanokurudzira kuchinja chikamu chenhumbi dzako kune imwe yakasiyana yemakore makore akawanda kusati kwaitika hupenyu hukuru hunochinja. Mumwe mutengesi ari makore gumi kubva pakusunungurwa, somuenzaniso, aizozviwana achifamba 10% yekubata kwake mune imwe mari inowanikwa mune zvekuwana mari gore negore. Nenguva iyo paanotora basa, iyo yose yemahofisi icharatidza zvinangwa zvake zvitsva.
The Rebalancing Controversy
Imwe yemitambo yakakurumbira paWall Street ndeye "kubatanidza" imwe nzvimbo. Kazhinji, izvi zvinoguma nokuti rimwe boka reassetsi kana hutsvaga huri kuwedzera zvakanyanya, kuuya kuzomiririra chikamu chinokosha cheupfumi wemurimari. Kuti udzose chikwereti cheporefidhi ichienzaniswa nemuenzaniso wakatarwa, mutungamiri weporotiyoti achatengesa chikamu chezvinhu zvakanakira uye anowedzera mari yacho. Nzara mutual fund manager Peter Lynch anodana tsika iyi, "kucheka maruva nekudiridza masora."
Ndeupi muvhareji wekutevedzera ? Kune rumwe rutivi, tine mazano anopiwa nomumwe wevatungamiri vatungamiri veTweedy Browne kune muteresi uyo akabata $ 30 mamiriyoni muBerkshire Hathaway stock makore mazhinji akapfuura. Paakabvunzwa kana aifanira kutengesa, mhinduro yake yaiva (yakashandurwa), "pane kuchinja kwezvinhu zvakakosha zvinoita kuti utende kuti kushambadzira hakunakidze here?" Akati kwete uye akachengetedza. Nhasi, nzvimbo yake inokosha mazana emamirioni emadhora. Kune rumwe rutivi, tine zviitiko zvakadai seWorldcom neEnron apo varimi vakarasikirwa zvose.
Zvichida zano rakanakisisa nderekuti uchengetedze nzvimbo iyo iwe unokwanisa kuongorora bhizinesi rekushanda, unobvuma kuti zvinyorwa zvichinyanya kukoshesa, tenda kuti kambani ine kukwikwidzana kunobatsira , uye iwe unofara nekuwedzera kukuvadzwa pamusana pekushanda kwe imwe shandiso. Kana iwe usingakwanisi kana kuti usingadi kuzvipira kune zvinotarisirwa, iwe unogona kunge wakashandirwa zviri nani nekugadzirisazve.
Asset Allocation Pamwe Chete Haikwanisi
Vazhinji vatengesi vanotenda kuti kuburikidza nekuparadzanisa zvinhu zvako kune zvakatemerwa kugovera muenzaniso kunoderedza kudikanwa kwekuita nokungwara mukusarudza nyaya dzega. Icho chinhu chakaipa. Vashandi vanogona kutadza kuongorora bhizinesi zvakakwana kana kuti nehutano vanofanira kuita kuti zvive pachena kune maneja wavo wepafotoreti kuti vanongoda chete muzvikwereti zvakasarudzwa zvakasarudzwa , pasinei nezera kana hupfumi hwehutano (pane mamwe mashoko pamusoro pematambudziko chaiwo anofanira kuiswa kune chimwe nechimwe chinogona kuchengeteka, verenga Seven Tests of Defensive Stock Selection.