Income that comes from a valuable paper. What valuable papers can generate the greatest income. Prices and price formation of valuable papers

The greatest important food when investing in valuable papers, there is a profitability. The income itself, the holdings from direct operations from the derivatives of these assets, is the main source of income for any successful investor. It is important to understand that there is practically no supply of absolutely risk-free valuable papers on the market, since there is still a human official behind every action. This official is identified as a company – the issuer.

The most competent approach to business is the understanding of its growth. At the same time, the quotation of issued tickets increases, which forms the speculative income of the owner or an increase in his dividends. Dividends are a concept that is often experienced. This, in essence, is a division of the company's profit between shareholders, which is expected to be based on the number of shares available for disposal.

Risks and market returns often overlap. The unspoken laws of trading indicate that the greater potential profit of a product on the exchange is greater. possible risks. Don’t rush around, the fragments of the vestments may become less important, since the income has greater durability. Of course, insurance in this situation will be reliable.

In short, this method of investigation requires respect for a detailed examination of the financial viability of the object under investigation. This includes information about expenses, revenue, income, short-term plans, the appearance of everything zagalny concept firms It is also important to ensure that the facility has a competent management team. In addition, an important position will be the identification of important factors that allow the reduction of tax payments and other chips.

A mighty profit for papers

Purchasing an asset that is denominated in a valuable paper, be it a stock or a bond, does not incur a gain of that kind. Income is generated either as a result of the investor's current actions, or as a result of demands made by the issuer. Issuer – the person who issued a valuable papier on trading maidanchik. They may be a private corporation that has agreed to issue shares, or a power that allows its citizens to buy bonds through Central Bank.

Classic instruments include stocks and bonds themselves. The action, as you already know, is a document that secures the right of Volodinia for its lord statutory capital issuer. The bond is respected by the disease.

In addition to paying dividends, the money from the share can be permanently canceled for resale. So the speculator’s job in this thesis lies in the purchase of an asset that, in his opinion, will increase in price in the near future. The thought, obviously, will be there for a reason. What is important here is to combine technical and fundamental analysis, plus reliable insider information.

Having known the best option, the investor buys the package of shares he needs. As a result, as soon as the optimal term is reached, the share price will increase. Here you can resell them. A positive difference is removed and recorded as an income from the investment.

Penny bonds

The profitability indicator of a bond is determined by the multi-hundredth rate set by the issuer. The procedure for issuing a bond is simple: after completing the designated term, the official returns the bond to the issuer, takes away the sum and hundreds of dollars he deposited earlier. This forms a flat income on bonds.

Alternatively, the bond can be resold on the secondary market. The rate of increase in income is determined by reconstitution, so that the quoted bonds increase. This may be reflected by the growing pressure of the issuing company or other market factors. Due to the high profitability of bonds, bonds are most often raised by commercial structures in order to increase their working capital.

The assessment of the sovereign's valuable documentation for this plan is strictly accepted. The average current liquidity of municipal papers to talk about great confidence, aka portfolio, collections from such assets rarely shows high rhubarb growing. State documents, municipal certificates of the Russian Federation, and Treasury bills of the United States boast of greater reliability, less profitability.

It is necessary to destroy such assets good method saving and carefully increasing capital, in order not to spoil the ruler’s riches short lines. A plus can be called tax relief for these types of assets. It is important to understand that corporate bonds, for example, Gazprom, cannot boast of such things. The value of the payment taxes becomes permanent.

Rozrakhunok profit

As it was said, look ahead to see how many pennies you will bring, since another purchase of the Central Bank is extremely difficult. A good strategist will calculate the approximate growth rate and apply to the issuer’s certificates, and the immediate income will be calculated based on verified analysis.

And it’s much easier to discover the profitability of actual papers. For whom is a handcuff not needed? economic theory. It is enough to simply withdraw from your bank account the amount that was spent on your purchase. This raznitsa will give that same profit. Or I will waste pennies, since the price of the CPU fell from the purchase.

If the ruler can already finish the trivial term, then before the sum is withdrawn, a hundredfold inflation can be expected, which comes from the difference. Dividends that were collected during the Volunteer period will be recorded as a plus.

You will withdraw the amount you earned or spent during the holding period. The holding period is the time period in which one person holds a given valuable paper. Based on these data, the ruler can make his verdict on whether his purchase is profitable. Why sell this asset, or why not sell the entire asset?

Reduced risk

In addition to taking a competent approach and assessing the situation before purchasing a CPU, it is important to understand that the actions of goods listed on the exchange may show different signs of risk.

So, for example, sovereign bonds guarantee the return of costs and profits. The issuer is the Ministry of Finance, or the Central Bank, which has great potential power. The money that is paid as interest comes from the budget. What an investor gives to the country's borg. That vikorist spends his pennies at his own discretion, and then turns around, taking hundreds of profits from the budget.

Middle-level investors are held in corporate bonds. The scheme of action here is the same, but there is a lot left over from the issuer. It is obvious that the great Galuzev giants, at the behest of Gazprom and Rosnaft, will cover their entire bogs for bog receipts, just as other building companies are bogging down, relying on the lack of necessary supplies to cover goiters. Yazan Most often the situation arises when legal person is on the verge of bankruptcy and simply cannot cover all its debts.

We highly appreciate the risk and shares. These certificates are, apparently, the most profitable financial instrument in the world. Starry ryziki, and even the local market lasy na kolivannya. This means that the reliability can be determined by the fact that “black chips” are the largest companies on the exchange that are exerting great pressure. There is a small amount of risk here, and the profit margin is small. Reconciled with government bonds.

Briefcase hem

The classic method of insurance against negative market conditions is to diversify the portfolio. Hanging out in simple words, this term is used to describe an investor's strategy when his assets are divided into the most diverse areas of activity.

It is popular to say that in order to divide your portfolio, you need to invest in Various businesses same spheres. This judgment is fundamentally wrong, fragments of the crisis and downfall can strike throughout the whole country. Especially since the galuz is new.

It doesn't matter at all how many companies, say, kitchen appliances, you invest in. If you fall on kitchen appliances like this, all participants in the haze will sink to the bottom. There is also a lot of fuss in some other sphere.

A good diversification would be to invest your capital in completely different assets, rather than contact one with the other. In this way, let’s say, the crisis of indecisiveness will not affect you, since this sphere does not have enough of your pennies.

Divide the capital into a few parts. And just invest the proceeds from them with valuable papers. Then divide the paper into the galuzes. This way you will protect yourself from unauthorized changes and vagaries of the great stock market.

Resilience in crisis

In what way will the investment be deprived of an absolutely profitable time that is important for the market? Why do these billionaires lose their riches during a protracted crisis? The answer is on two main points.

First of all, their portfolios are carefully selected. There is not only a clear division into spheres, the successes of which lie one after the other. So, for example, during the boom in tablets, those companies that focused on the production of portable computers – laptops – began to spend heavily on tablets. Having divided the capital between these types of technology, you take the blow from one side, and from the other side your quotes will only go uphill.

On the other hand, it is important to understand that billionaires have greater access to assets. For example, you, investing thousands of rubles in a large corporation, do not have the opportunity to talk specifically with a number of directors. At that time, like Bill Gates, who paid for everything, there will be requests for lunch to the ruler of the corporation. He is an important investor, with billions of dollars from his building investments. I appreciate all the insider information.

That same respectable official. , in truth, there is a lack of possibility. The prices that have fallen on the shares are tempting their rulers to sell. I want a cold-blooded investor to be stingy. The market is cyclical and those that fell today, through two rivers, will immediately turn around, and with the possibility of new growth. Guess the end of the last century and the collapse associated with Internet companies. Today, the Internet has become one of the most capitalized areas in the West. So don’t be afraid of the crisis. Be careful not to miss opportunities.

A valuable paper as an object of the stock market

One of the segments of the finance market is the stock market. Yogo specific feature an economical object appears between the subjects. Such an object is a valuable papier. Vaughn has a subversive nature. On the one hand, this financial instrument itself does not carry value, subject to strict standards of registration, preservation and transfer from one owner to another. Whose value is it to become part of the capital costs generated by this instrument. Thus, a valuable paper is defined in such ways as it determines what kind of goods it is.

Thus, the stock market itself is the totality of economic interactions between its subjects in terms of issue, sale and redistribution of valuable papers.

The functions of this segment of the economy, related to the specifics of the economical supply facility, include:

• re-divided the forests between galuzes and regions;
• formation of prices for financial instruments;
• creation of an information field about changes to the market;
• regulation of mutual relations between market subjects and countries;
• provision of additional funding for the brain shortage;
• optimization of the influx of cash from the strategically important galusi of the people's dominion;
• divided the risks between the participants of the treat.

Market participants are incubating or issuing stock instruments to effectively invest their penny and capital assets. The method of such activity is the withdrawal of additional income for their own money from short-term and long-term periods.

Respect 1

For effective investments, use investment portfolios. Their essence lies in the formation of such a package of financial instruments, which will allow not only to realize the goals of their rulers, but also to reduce the risks of all operations and operations with valuable papers that are carried out.

Investments in valuable papers

To optimize the risks of the portfolio, stock instruments of different liquidity levels are used, as well as various terms and principles of placement on the market. One of the most stable and often stagnant methods is the replacement of the bank's deposit account. Such a shell allows you to place the walls penny koshti under the singing bank account. This method is to serve without worry, and its profitability is not high. For the rest of the years, the interest rate for deposit accounts does not exceed the threshold of 7%.

There are two types of such deposits - until deposited (it is important to remember that the term for withdrawing pennies is not defined, the owner of the deposit can be quickly accessed by any means (general account or check books)); The term contribution is to deposits from the first term of the depositor earning pennies.

Respect 2

Your deposit can be insured against bankruptcy of the bank.

If it is not possible to create a deposit account, you can add a bank draft. For the authorities, it is more liquid, with which it is much simpler to draw up deposit accounts.

High-volume stock instruments include stocks, bonds and the like.

Shares allow their holder to withdraw income from periodic monthly payments for them, in addition, give various types of shares Main law This is a declaration about the management of a sovereign entity. This type of stock instruments can be used for speculation on the stock exchange as a method of withdrawing additional profits. Or the promotion can be the basis for similar instruments that allow you to play on the difference in the value of the promotion at different times. In order to place your shares on the exchange, their holder must go through the following procedures, which give the right to sell papers on the stock platform.

Viznachennya 1

A bond is a type of financial instrument that gives the owner the right to withdraw payment from the issuer at the value of the term in the amount of the nominal price of the paper plus the interest stipulated in the agreement.

The risks of operations with such instruments are clearly lower than for stocks. They can be implemented behind lines in rocks of up to several dozen rocks. The bond allows for timely possible expenses of the portfolio and brings a constant, moderate and small income to the owner.

Depending on the type of income, bonds can be:

• discount - their price on the market is lower for their nominal value, there are no interest payments for it;
• with a specific interest rate - payment of the amount specified in the agreement will be made;
• with a floating rate - the payment for hundreds of units is subject to market conditions at the time of the deregulation.

Note 3

An important feature of the bond is that it was completed following a freeze between the lender and the issuer.

Similar instruments are designed to implement a hedging strategy for the main papers, in addition, they allow you to trade and withdraw income from a short-term period.

Availability of valuable papers

A stock instrument is designated by its level of return. It is necessary to remember that income according to paper is directly proportional to the level of risks associated with it. Thus, the effectiveness of the portfolio is expressed in relation to the market income according to the new market value of the skin instrument. The level of predicted income can be determined by the following principles:

• changes in interest rates due to the regulation of financial instruments during the period;
• the value of river income from a high-income employee;
• equal to the income from the instrument until the time of its redemption (for bonds);
• the hour's profitability.

External profitability can be calculated for the following relationships:

$D = \frac(Sn-So)(So)$, where $D$ is income, $So$ is corn yield, $Sn$ is end yield.

This indicator allows you to analyze the potential of existing financial instruments and determine the areas of their investment.

Income according to fate is calculated using the following formula:

$D = (1+\frac(i)(n))\cdot n-1$, where $D$ is income, $i$ is the versatility of a folding wine cellar, $n$ is the number of hourly breaks in fate.

The breakdown of income from bonds in a formal view can be expressed by the formula:

$D = \frac(k+\frac(N-P)(t))(\frac(N+P)(2))$, $D$ – income, $k$ – coupon size, $t$ – redemption period, $N$ – nominal value, $P$ – market value.

de Z CPU - To D- capitalization of income that is being increased; Before PR - capitalization of other rights from valuable papers.

Capitalization of income, which is increased, is not the same as the share of income on the market (meaning banking) 100% rate. Capitalization allows you to insure the amount of capital, which, being deposited at a rate of 100, will generate income equal to the income that is insurable.

Other rights held by a valuable paper are not subject to any general assessment to be substituted for the right to income. The greater their importance in the eyes of the market, the less determinative the process of pricing this valuable paper, the greater the role of subjective-psychological assessments.

Rink's price of a valuable paper - this penny price This is market varity. Our abstract model of the market price of a security paper looks like this:

de CPU CPU- market availability of valuable papers; Z CPU - market supply of valuable papers; C RO - Market developments due to the increase and decrease in market prices are equal to the value of the paper in absolute terms; P K - Market price and market price (in parts).

In practice, the market price of valuable papers has names such as exchange rate price, exchange rate, exchange rate, market quotation, etc.

Chapter 2. Value of varosti and profitability.

2.1. Promotions

2.1.1. Profitability of shares.

The income that a share can bring, including dividends and exchange rate increases. Being the holder of valuable papers, the investor can obtain insurance without losing money dividend with shares, then. on-line payments from valuable papers. The factors that determine the size of the dividend, the amount of money to be paid, the amount of net profit and the proportion of the division that lie before the decision for the sake of directors and zagalnyh gatherings shareholders. After the sale of the action, the vlasnik can withdraw the total income from the warehouse to a friend - increase in exchange rate value. This is clearly indicated as income, which is the difference between the price of purchase and sale. Naturally, when the selling price exceeds the purchase price, the investor loses income, and when prices on the stock market are depressed, the investor suffers a loss of capital.

In addition, the mother is careful that the distribution of income from shares should remain during the investment period. If the investor makes a long-term investment and during the investment period, during which the profitability of the shares is assessed, without including sales, then the current income is determined by the amount of dividends , why are we crying? Such a situation is being monitored I will emphasize the profitability, tobto. without regulating the sale of the share, which is to be insured as the payment of the received dividend to the price of the additional share:

de D X- Profitability; IN - pay exactly for the valuable paper; C - Vartisity of the promotion; T - the hour for which the dividend was withdrawn.

In addition, you can purchase insurance I’ll stream the market’s profitability, which is dependent on the price level that is on the market at any given time:

If the investment period by which the shares are valued includes the payment of dividends and ends with the sale, then the income is calculated as the cumulative dividends from the exchange rate changes osti, tobto.

de D- income; C PR - selling price.

Pributkovyst є terminal (repeated), as if the investor sold his valuable paper. This return for the investment period is insured using the formula:

And if the investment period exceeds the river, then the formula for the final profitability from the expansion of the river is in the following form:

de Dx up- Kintseva pributkovist; P- time to become an investor.

The investment period does not include dividend payments , then the income is determined as the difference between the purchase and sale prices. Tobto:

D=C PR-C,

And it can be any quantity: positive, negative, zero.

The profitability of the share in this case is insured as the difference in the selling and purchasing prices to the purchase price:

butt : The profitability of the shares will be released, which at this time will cost 100 rubles. Through the river, an increase in the price of the share up to 115 rubles will be transferred, and a dividend of 5 rubles will be paid for the shares. per share the shareholder's profitability becomes:

The main factors that influence the profitability of shares include: the amount of dividend payments (the same amount as the net profit and the proportion of its division); fluctuation of market prices; inflation rate; Subduct climate.

If the profitability of shares is significant, it is necessary to separate the nominal and real profitability. Nominal flow rate is calculated on the basis of the actual income received from dividend payments and the increase in the exchange rate of the shares. As the nominal yield expands, warehouse inflation is not covered, as it “eats” part of the income. In order to determine the profitability of the business, take out insurance real advantage from the share as the difference between the nominal profitability and the inflation rate. This indicator characterizes the active increase in capital and shares.

2.1.2. Variety of shares.

To determine the current share price, the investor can develop a forecast of the future share price and expected dividends. In this case today's price shares can be calculated using the formula:

de IN - dividends in line with the fate of the share; Price 1 – share price through river; Z - discount rate.

In the first case (clause 2.1.1), the calculated dividend is 5 rubles, the price of the share through the river is 115 rubles, and the profitability rate for the share with a similar level of risk is 20%, so the price is reasonable purchases of shares become:

The unsecured price shows the upper limit of share prices for investors who focus on adding valuable assets from the current market. If shares of a company over the market are priced cheaper, less than 100 rubles, then the investor will receive an extra amount of shares depending on the availability of forecast indicators for dividends and share price, For the period, we remove the profitability of our deposits by more than 20%. If the shares are worth over 100 rubles, then the profitability per share will be less than 20%. In this case, the investor must search the market for other financial instruments with a similar risk in order to ensure a 20% profitability.

When the investment period is overextended, then the formula for the breakdown of share prices present moment can be seen as:

de IN - dividends in i-that's how it works; C p- share price per market P; Z - the rate of return has been determined; i - 1,2, 3... P - serial number of roku.

On an unbounded time-hour horizon, the company's remains can ideally be kept alive forever, and the stock is set to zero. True, viraz

Since the amount of dividends does not change depending on fate, the investor receives a regular penny stream extending the lineless period of time, which is called rent. The current rate of non-string annuity is equal to the amount of river expenses divided by the discount rate. Let’s take a look at the price of the company, which pays an equal dividend of 10 UAH for the shares. If the profitability (discount rate) is higher than 20%, then the current share price becomes:

This approach, until the value of the dividend is determined, is suitable for shares with a fixed dividend rate. It is rare for companies to pay permanent dividends on major shares. If the company is growing at a steadily steady pace, it can be assumed that dividends will grow at this very pace.

I can only wait to be kind and good for my ruler.

Good luck with valuable papers — This is the totality of the main and non-main rights with which it is endowed. It is good to know the expression of these rights that are vested in a particular valuable paper under the law and at the will of the person who released it. These are the rights expressed as a whole.

In contrast to a valuable product, the lasting virtuousness of which is derived from its verbal or material nature, the lasting varity of a valuable paper does not have a material basis, but comes from the reciprocity between the owner of a valuable paper and a special one. ka zobov'yazan after him. Although these bearings are secured by law, their work is always connected with the possibility of damage, irregularity, etc.

The brilliance of a valuable paper- this is the world of realization of rights, such as the acquisition of a valuable document, or the world of your lifelong property.

• the liquidity of valuable papers, i.e. the right to transfer from one owner to another;
• profitability of valuable papers, i.e. measures of the right to deduct income from the ruler;
• The risk of a valuable paper is the insignificance, invisibility associated with the existing rights (especially the rights to income and property) with which it is vested.

Liquidity of valuable papers- this is the consolidation of the right to transfer it from one owner to another of the existing rights. It is important to understand the meaning of the changes in the permitted forms of transfer of power rights to it (for example, it happens that the purchase and sale of valuable paper is limited), in terms of this transfer.

Availability of valuable papers

Income from a valuable paper- this is the income that will be brought in absolute (absolute profitability) or relative (absolute profitability) expression for the entire period of time, depending on the rate of expansion on the river.

• income from a valuable paper or title capital, or income that is charged;
• income from valuable paper as capital, or differential income.

The first is a part of the income created by active capital, and that, in its essence, is the income that is accumulated, this is the active income as a part of the generated additional capital; the other is income from capital, which functions as fictitious capital, so that this income is a pure redistribution of the original capital.

A more practical understanding of the taste

The owner of a valuable paper absolutely does not care about the income he receives, so it is practical to rely on the following basic economic concepts of profitability:

• in-line— profitability, which is calculated on the basis of accumulated income or both types of income for a period of up to one period or as a short-term operation;
• povna- Profitability, as a result of injury to the income of a valuable paper for a period of time, and also in the expansion of the river.

• methods of development;
• the level of exposure to other economic indicators in them (for example, inflation, taxes, etc.);
• time-hour interval (early, current, forecast);
• the totality of valuable papers (the profitability of a single valuable paper, a group (portfolio) of valuable papers, the market of valuable papers (that is, all valuable papers in total) etc.

Rik of a valuable paper

Rik of a valuable paper- The most important order with profitability is the display of sweetness. The insignificance (invisibility) that appears can be described as the possibility of permanent or partial non-conquest of goals, such as setting the authority of a valuable document from the development of existing rights, as well as the possibility of partial (even permanent) conquest these goals. However, we can say that the risk is at the expense of an unknown stage of the development of rights for the purposes of a valuable paper, or, for the same reason, an unknown stage of their irrelevance. Subject to the fundamental rights that are granted by a valuable paper, there is a risk of profitability, a risk of liquidity, etc.

The risk of a separate valuable paper and the risk of a portfolio of securities boom G

The leader who is in power over a specific, specific valuable paper has a place between both their totality (portfolio), and one hundred percent of all valuable papers, i.e. the market for valuable papers. However, the portions of the rights under any other specific valuable paper objectively conflict with the rights under another valuable paper (for example, an increase in income for one valuable paper may be associated with an increased increase in income In other words, the increase in purchases of one valuable paper, then The increase in liquidity can lead to a change in the turnover (liquidity) of any other valuable paper, since the risks of the totality (portfolio) of valuable papers are not a simple sum of risks that are included before there are no valuable papers, and the risk of the market as a whole is not the arithmetic sum of the risks of all warehouses of valuable papers or their portfolios.

• rizik of a valuable paper;
• risk of a portfolio of valuable papers (risk of the totality of valuable papers that a given ruler has the power of);
• market rizik, i.e. rizik, powerful in the market of valuable papers with backsplash.

Powerful risik of valuable paper and external risik

The validity of the rights of a valuable paper lies, on the one hand, in the type of person who is bound by it, and on the other hand, as a factor that does not lie in the other side, everything that is connected with the foundation of a valuable paper is regulated. to become another power. In addition, it should be remembered that a valuable paper is a tool for the market of valuable papers, and the rest is just a warehouse part of the market. As a result, the risk of a valuable paper is combined with an immediate one:

• the powerful risk of a valuable paper, which is rooted in the insignificance of the implementation of rights on the other side of the individual who is responsible for this particular valuable paper;
• either a powerless or an external reason, which reflects the unimportance of the implementation of rights from a valuable paper for the reasons that there is a special position associated with it.

The risk of a particular valuable paper is not permanently deprived, but is constantly changing due to the need for a new individual and the state (conjuncture) of the market for valuable papers.

Vimir riziku

The fragments in practice will always have a place middle rhubarb The development of that other right, as a result of the change in the risk, is based on the structure of the evolution of the display, which characterizes the right of a valuable paper, from the statistical average, or simply the average value. Call for this purpose the indicators or dispersion, which are based on the mean square value or dispersion. The smaller the size of the difference from the average level of activity of one another's right (the less dispersion), the smaller the risk, the greater the consistency of its activity on the average or This results in a lower level of certainty in the actual implementation of rights on the level that is subordinated to the middle level.

The real profitability of valuable papers is stored in their type, the remainder of which is directly stored in investment risks. The tall rizik is transferred.

• dividends on shares;
• coupon income of bonds;
• speculative profit.

Dividends from shares

Part of the company's profit, which is received by its shareholders. The amount of dividends depends on the type of shares and results financial activities companies and decisions taken at shareholder meetings. Dividends will be paid shortly, every quarter.

Bond coupon yield

The income of the issued bonds, which is paid by the issuer of securities. The coupon yield is a special interest rate for the position when the issuer has withdrawn the bond from the owner at the time of its sale. The coupon income is paid regularly for the entire term. The number of coupons and their profitability are established when there is a bond. The bond is issued on the first term and generates income to its owner at the interim term.

Speculative income

Income from the resale of valuable papers. Necessary for speculation in valuable papers. Speculative income comes from the moment the market closes.

Rozrahunok

The profitability of a valuable paper is the amount of hundreds of dollars of income and exchange rate changes for the period of the Volunteer and expenses on its income, adjusted to the river calculation:

Development of the availability of valuable papers

• Dx - bubblyness;
• B - the amount of coupon or dividend payments over period T;
• ΔК - the difference between the price added and the price sold (redemption);
• TsPK — purchase price;
• T - hour of the month of August with a valuable paper (in days).