Lý thuyết portfolio

Portfolios • A portfolio is a collection of different securities such as stocks and bonds, that are combined and considered a single asset • The risk-return characteristics of the portfolio is demonstrably different than the characteristics of the assets that make up that portfolio, especially with regard to risk. • Combining different securities into portfolios is done to achieve diversification.

30p dauxanhnguyenhuong 28-09-2011 63 6   Download

Beta(β) In finance, the Beta (β) of a stock or portfolio is a number describing the relation of its returns with those of the financial market as a whole. • An asset has a Beta of zero if its returns change independently of changes in the market's returns. A positive beta means that the asset's returns generally follow the market's returns, in the sense that they both tend to be above their respective averages together, or both tend to be below their respective averages together. A negative beta means that the asset's returns generally move opposite the market's returns: one...

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An investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc. --- with the objective of making a profit.  Inviduals  Organizations: Financial entities including Brokerages, Banks, Funds…

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CAPM: Assumptions • Investors are risk-averse individuals who maximize the expected utility of their wealth • Investors are price takers and they have homogeneous expectations about asset returns that have a joint normal distribution (thus market portfolio is efficient) • There exists a risk-free asset such that investors may borrow or lend unlimited amount at a risk-free rate. • The quantities of assets are fixed. Also all assets are marketable and perfectly divisible. • Asset markets are frictionless. Information is costless and simultaneously available to all investors.

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Chương VII: Lý thuyết Portfolio và Quản trị rủi ro Gỉam thiểu rủi ro trong một danh mục bảo hiểm các rủi ro độc lập và đồng nhất

1p chocobyebye 19-07-2010 382 154   Download

Giảm thiểu rủi ro trong một danh mục bảo hiểm, các rủi ro độc lập và đồng nhất, đo lường mức độ tương quan giữa các rủi ro,...

1p yuki_snow_86 14-05-2009 696 181   Download