Tsanangudzo, Tsanangudzo, uye Zvakawanda zveZvirevo
Ngatitangei kutanga nekupindura mubvunzo unokosha zvikuru: Chii chinotora?
Chii chinotora?
Izwi rokuti derived rinowanzotsanangurwa sechinhu-chekuchengeteka, kontrakiti-iyo inowana kukosha kwayo kubva paukama hwayo nedzimwe nhumbi kana kubuda kwemari inopera. Kune mhando dzakawanda dzezvinobva uye dzinogona kuva dzakanaka kana dzakaipa, dzinoshandiswa kwezvinhu zvinobudirira kana sezvigadzirwa zvekufungidzira. Derivatives dzinogona kubatsira kugadzirisa hupfumi kana kuunza hutungamiri hwemari pamabvi ake mune tsvina yakaipa nekuda kwekusakwanisa kuziva njodzi chaiyo, kudzivirira zvakanaka pamusoro pavo, uye kutarisira zvinonzi "daisy-chain" zviitiko apo makambani akabatanidzwa, masangano, uye masangano anozviwana pakarepo pangozi pamusana pekunyora kwakanyora kwakanyorwa kana kuti kwakagadzirirwa nzvimbo yakagadzirirwa neimwe ikambani yakakundikana; a domino effect.
Chikonzero chikuru ichi njodzi inowanikwa muzvigadzirwa ndeyechimwe chinhu chinonzi counter-party risk.
Zvinyorwa zvakawanda zvinobva kune munhu kana chikwata kune rumwe rutivi rwemabhizimisi ari kukwanisa kurarama maererano nekutengeswa kwakakundwa. Kana sangano richibvumira vanhu kuti vashandise mari yekupinda mumhando dzose dzakagadziriswa dzakagadziriswa, tinogona kuzviwana mumamiriro ezvinhu apo munhu wese anotakura nzvimbo idzi dzinogadziriswa pamabhuku avo pamitemo yakakura chete kuti awane kuti, kana zvose zvisingatauriki, pane zvishoma mari imomo nokuti kukanganisa kumwe chete kana mbiri munzira inochenesa munhu wose pamwe nayo.
Dambudziko racho rinowedzera kuwedzera nokuti zvibvumirano zvakawanda zvakanyorwa zvakanyorwa muchivande zvakagadzirisa-izvozvi zvinoshambadzira izvo zvinodikanwa kuti vashandise kuisa mari yakawanda kana nguva yakawanda panguva iyo vangave vachida mari yose yavanogona kuwana, kukurumidza kuisa pangozi yekushungurudzwa. Ndechikonzero chechikonzero ichi bhiriyoniire Charlie Munger, kwenguva yakareba muongorori wezvakabva, anodana zvibvumirano zvakawanda kubva kune "zvakanaka kusvika kusvika" sezvaunenge uchida kubata mari, inogona kunyatsoputika pamusoro pako zvisinei kuti uri chii kutakura iyo pairi bhazha rako.
Munger uye bhizimisi rake pamwe chete Warren Buffett vanoshamwaridzana nazvo nekubvumira chete kambani yavo , Berkshire Hathaway , kunyora zvibvumirano zvinobva pane zvavanowana mari uye pasina mamiriro ezvinhu zvinogona kukamanikidzwa kutumira mari yakawanda munzira.
Ndeapi mamwe maitiro akafanana ezvigadzirwa?
Pakati pemhando dzakakurumbira uye dzakajairika dzezvigadziriswa iwe ungasangana nazvo munyika chaiyo ndeizvi:
Exchange Yakatengeswa Stock Options: Ongidza zvisarudzo uye uise zvisarudzo , izvo zvinogona kushandiswa zvakakodzera kana sezvinokanganisa zvinokonzerwa nekubhejera nzira inodhura misika. Zvinosanganisira mabhizimusi makuru anotengeserana pachena muUnited States vakanyora mazita ekufonera uye vanoisa zvisarudzo.
Mitemo chaiyo inotungamirira avo vari muUnited States yakasiyana nevaya vanobata zvibvumirano izvi zvinobva muEurope asi iyo inoshandiswa inokosha zvichienderana nekuti unoda kuishandisa sei. Semuenzaniso, unogona kuwana vamwe vanhu kukubhadhara kuti utenge chikwama chaunoda kutenga, zvakadaro. Sezvo takatotaura kare mabhiriyoniire Warren Buffett, isu tichamushandisa se muenzaniso, zvakare. Akashandisa nzira iyi makore mashoma akapfuura apo akaunganidza hukuru hwake hweCoca-Cola. Shanduro yekutengeserana maitiro, kubva pane-system-wide standpoint, pakati pezvinonyanya kugadzikana nokuti mutengesi anotora haafaniri kunetseka neanoti inonzi counterparty ngozi.
Kunyange zvazvo inogona kuva nengozi yakanyanya kune mutengesi mumwe nomumwe, kubva pane maonero ehutano-hutsika, zvigadziriswe-kutengesa-zvakatengeswa zvakadai sezvizvi pakati pezvinhu zvisingatambudziki nokuti mutengi uye mutengesi wega yega svondo inopinda kupinda mutengesi nemashandisirwo ekutsinhanisa, ndiani inova mubatanidzwa.
Zvisarudzo zvinoshandiswa zvinoshandiswa zvinotsigira kushanda kwegwaro rimwe nerimwe uye mari yekubhadhara mari yega yega yekutengesa kunovaka izvo zvinoenderana nechikwata chemurizhonga ye inshuwarisi kuvhara chero kukanganisa kunogona kubuda. Kana munhu kune rumwe rutivi rwebhizimisi achipinda mudambudziko nekuda kwekutsvaira mutsara, mumwe munhu haazombozivi nezvazvo.
Vashandi Vekutsvaga Kwekutsvaga: Kubvumirwa sechikamu chemari yekushandira kambani, vashandi vekutsvaga mari yezvigadzirwa ndeye rudzi rwezvakagadzirirwa izvo zvinobvumira mushandi kutenga zvigadzirwa pamutengo wakatarwa musati wapera nguva. Tariro yemushandi ndeyokuti mari inowedzera inokosha zvakanyanya zvisati zvaitika, iyo inogumira kuitira kuti iye asarudze kusarudza uye, kazhinji, kutengesa mari yacho pamusika wakatarwa pamutengo wakakwirira, nekukanganisa musiyano semabhonasi. Zvinowanzowanzoitika, mushandi angasarudza kuuya nezvose zvinoshandiswa kubva muhomwe uye kuchengeta pfuma yake, kuunganidza danda guru mumushandi.
Mazano Anotarisana: Nezveramangwana zvibvumirano zviripo pane zvinhu zvose, kusanganisira mazai emisika emaStock P 500 kana kuti The Dow Jones Industrial Average , ramangwana rinowanzoshandiswa mumisika yemari. Fungidzira iwe une purazi. Iwe unokura zvakawanda zvezviyo. Iwe unofanirwa kukwanisa kuenzanisa mari yako yega yega, sarudzo, uye ngozi. Iwe unogona kuenda kune ramangwana mumusika uye kutengesa kontrakiti yekuendesa chibage chako, pane imwe zuva uye kubvumirana kwekutanga kwekubvumirana. Mumwewo mutengesi anogona kutenga iyo yeramangwana rechibvumirano uye, pane dzimwe nguva, inoda kuti iwe upe nyama. Semuenzaniso, Kellogg's kana General Mills, vaviri vekugadzira zviyo zvakakura pasi pose, vanogona kutenga zviyo zvekugadzirira kuti vati vave nehuyo huripo huri huseu huripo huchiita kuti hugadzire zviyo zvekugadzira pamwe chete nekugadzirisa zvikwereti zvemari yavo kuitira kuti vagone kufanirwa mari yekugadzirisa zvirongwa.
Airlines dzinowanzoshandisa nguva yemberi yekudzivirira majeti ejet fuel. Makambani emigodhi anogona kutengesa mune ramangwana kuti ape mari yakawanda yakadzika kugadzikana nekuziva mberi kwechinhu chavanowana nokuda kwegoridhe, sirivha, nemhangura yavo. Vashandi vanogona kutengesa nguva yemafuro avo. Zvose izvi zvibvumirano zvinotarirwa zvinochengetedza hupfumi chaihwo hunoenda kana nokungwarira kushandiswa sezvo vachibvumira kutengesa kungozi pakati pezvikamu zvakada kuendesa kune zvakakosha uye zvidikanwi zvinoenderana nezvomunhu kana chikwata chinoda uye chinogona kuzarura mukana we kurasikirwa kana kukanganisa .
Mafiro: Makambani, mabanki, masangano emari, uye mamwe masangano anowanzopinda muzvibvumirano zvinozivikanwa sechirongwa chechirwere swaps kana kuti swaps mari. Izvi zvinoreva kuderedza dambudziko. Vanogona kuchinja zvakananga-chikwata chechikwereti kuti chifambise chikwata chechikwereti kana zvimwewo. Vanogona kuderedza mukana wekuita mari yakawanda inoita kuti zvive zvakaoma kubhadhara chikwereti mune imwe nyika mari. Izvozvo zvinokonzerwa nemashandi zvinogona kuwandisa pamabhadharo uye mari inowanikwa mune chero nguva ipi zvayo sezvavanoshumira kugadzirisa uye kugadzirisa mari inoyerera, zvinhu, uye zvikwereti (vachifunga kuti vakanyatsorongeka).
Murairo wehupenyu muupenyu hwevatengesi mumwe nomumwe: rega zviwanikwa zvekufungidzira, zvose zvakananga muhutoriko rako pachako uye pamashizha emakambani aunosara
Kunyange zvazvo vanhu uye mhuri dzine ruzivo rwakakosha zvingave zvingwarira kushandisa dzimwe nzira dzekutora kana dzichishanda nemunhu anonyatsokwanisa kubhadhara mari yekutsvaga - semuenzaniso, zvingave zvichikwanisika kuderedza mitero uye kurwisana nemakakatengesi emakambani kana zvishoma nezvishoma kutora nzvimbo yakaiswa panzvimbo yakawanda inowedzera hupenyu hwakareba kana kushanda kune imwe kambani kana kuti kuwedzera mamwe mari nekunyora mahofisi ekutsvaga mazita kana kutengesa zvakakwana kuchengetwa mari inowedzera , izvo zvose zviri kure kupfuura zvatinenge tichikurukura pano - mutemo wakanaka muupenyu ndeyekudzivisa zviwanikwa pazvose zvinodhura kusvikira iwe uchiri kutaura pamusoro pehuwandu hwemari yako. Handikwanisi kukuudza kuti vangani vanhu vandakaona vakaenda kana kupukuta makumi emakore ekuchengetedza kubva mabhuku avo mushure mekutenga kusarudzwa kwemashoko mukuedza kupfuma nokukurumidza.
Izvo zvinoenda kunotora mari mune dzakaoma masangano emari kana mafemu. Kana iwe usingakwanisi kunzwisisa zvinotora zvebhizimisi rebhizimisi mushure mekuchera nemabhuku ayo ekuzarura, iwe unogona kunge uri nani pakudzivisa. Izvi zvinoreva kuti ndaizoenda kunoti iwe haufaniri kuisa mari yako muzvitoro kana kuti iwe haufaniri kutenga zvisungo zvayo asi, zvakare, sekushandisa zvishandiso iwe pachako, ndizvo zvauri iwe nemupi wezano wako wekutsvaga mari achada kusarudza pamwe chete mushure mekufungisisa zvido zvenyu zvakasiyana-siyana, mamiriro ezvinhu, uye kushungurudzika kwengozi.
Iko Balance haisi kupa mutero, utsvaga, kana mari yemari uye mazano. Mashoko aya ari kuendeswa asina kufunga nezvezvinangwa zvekutsvaga, kushivirira kune ngozi, kana mamiriro emari yemumwe mutengesi chaiyo uye angave asina kukodzera kune varairi vese. Basa rekare harisi kuratidza migumisiro yemangwana. Kuisa mari kunosanganisira njodzi dzinosanganisira kurasikirwa kwatinoitwa mukuru.