贵金属投资技术分析英文版33培训资料
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5
Preparing for an Investment Program
(continued)
PERFORMING A FINANCIAL CHECKUP Work to balance your budget
Do your regularly spend more than you make Pay off high interest credit card debt first Start an emergency fund you can access quickly
Speculative investments are high risk The Risk-Return Trade-Off
17
Factors Affecting the Choice of Investments (continued)
18
Factors Affecting the Choice of Investments (continued)
3
Preparing for an Investment Program
(continued)
What possible economic or personal conditions could alter your investment goals?
Given your economic circumstances, are your investment goals reasonable?
9.4
Gov-bond
U.S. Tre-bill
3.2
Real Average Return 13.8%
9.1
3.1
2.7
0.7
16
Factors Affecting the Choice of Investments
The potential return on any investment should be directly related to the risk the investor assumes
52 weeks
Yld
Vol
Net
Hi Lo Sym Div % PE 100s Hi Lo Close Chg
134 80 IBM .52 .5 21 143402 98 95 9549 -3
115 40 MSFT
… 29 558918 55 52 5194 -475
15
Factors Affecting the Choice of Investments
ESTABLISHING INVESTMENT GOALS -- accumulating retirement funds -- enhancing current income -- saving for major expenditures -- sheltering income from taxes
12
Factors Affecting the Choice of Investments
Objective 2: Assess how safety, risk, income, growth, and liquidity affect your investment decisions
Safety and risk Safety in any investment means minimal risk of loss Risk means a measure of uncertainty about the outcome
11
Preparing for an Investment Program (continued)
Comparison: $200, 6%, 10 years 32,775 $400, 6%, 15 years 116,327 $400, 12%, 15 years 199,832 $400, 12%, 30 years 1,397,985
Are you willing to make the sacrifices necessary to meet your investment goals?
What will the consequences be if you don’t reach your investment goals?
Three to nine months of living expenses Have access to other sources of cash for emergencies
Line of credit is a short-term loan approved before the money is needed
Calculate return on an investment Rate of return: income you receive on an investment over a
financing for your investments What do you value Participate in elective savings programs
Payroll deduction or electronic transfer Make extra effort to save one or two months each year Take advantage of gifts, inheritances, and windfalls
0 -10 -5 0 5 10 15 20 25 30
14
Factors Affecting the Choice of Investments
To get a general idea of a stock’s price variability, we could look at the stock’s price range over the past year.
Use various sources of financial information that can reduce risks and increase investment returns
2
Preparing for an Investment Program
Objective 1: Describe why you should establish an investment program
9
Preparing for an Inves百度文库ment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 12% per year on your stocks, how much will you have accumulated after 15 years? Use time value of money calculation: pmt = 400, I = 12/12 = 1, n = 15*12 = 180 FV = ? FV = $199,832
Explain how asset allocation and different investments alternatives affect your investment plan
Recognize the importance of your role in a personal investment program
7
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $200 per month in
the stock market. If you earn 6% per year on your stocks, how much will you have accumulated after 10 years? Use time value of money calculation: pmt = 200, I = 6/12 = 0.5, n = 10*12 = 120 FV = ? FV = $32,775
10
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 12% per year on your stocks, how much will you have accumulated when you retire in 30 years? Use time value of money calculation: pmt = 400, I = 12/12 = 1, n = 30*12 = 360 FV = ? FV = $1,397,985
8
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 6% per year on your stocks, how much will you have accumulated after 15 years? Use time value of money calculation: pmt = 400, I = 6/12 = 0.5, n = 15*12 = 180 FV = ? FV = $116,327
13
Factors Affecting the Choice of Investments
Company A
Company B
0.5 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05
0 4
8
12
0.2 0.18 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02
Investments range from very safe to very risky
Annual Rates of Return 1926-2002
Standard Deviation
Small-
33.2%
Stock
Large-
20.5
Stock
Long-term
8.7
Corp-bond
Long-term
Cash advance on your credit card
6
Preparing for an Investment Program (continued)
GETTING THE MONEY NEEDED TO START AN INVESTMENT PROGRAM
How badly do you want to achieve your investment goals Are you willing to sacrifice some purchases to provide
Chapter 13 Investing Fundamentals
Chapter 13 Learning Objectives
Describe why you should establish an investment program
Assess how safety, risk, income, growth and liquidity affect your investment decisions
Preparing for an Investment Program
(continued)
PERFORMING A FINANCIAL CHECKUP Work to balance your budget
Do your regularly spend more than you make Pay off high interest credit card debt first Start an emergency fund you can access quickly
Speculative investments are high risk The Risk-Return Trade-Off
17
Factors Affecting the Choice of Investments (continued)
18
Factors Affecting the Choice of Investments (continued)
3
Preparing for an Investment Program
(continued)
What possible economic or personal conditions could alter your investment goals?
Given your economic circumstances, are your investment goals reasonable?
9.4
Gov-bond
U.S. Tre-bill
3.2
Real Average Return 13.8%
9.1
3.1
2.7
0.7
16
Factors Affecting the Choice of Investments
The potential return on any investment should be directly related to the risk the investor assumes
52 weeks
Yld
Vol
Net
Hi Lo Sym Div % PE 100s Hi Lo Close Chg
134 80 IBM .52 .5 21 143402 98 95 9549 -3
115 40 MSFT
… 29 558918 55 52 5194 -475
15
Factors Affecting the Choice of Investments
ESTABLISHING INVESTMENT GOALS -- accumulating retirement funds -- enhancing current income -- saving for major expenditures -- sheltering income from taxes
12
Factors Affecting the Choice of Investments
Objective 2: Assess how safety, risk, income, growth, and liquidity affect your investment decisions
Safety and risk Safety in any investment means minimal risk of loss Risk means a measure of uncertainty about the outcome
11
Preparing for an Investment Program (continued)
Comparison: $200, 6%, 10 years 32,775 $400, 6%, 15 years 116,327 $400, 12%, 15 years 199,832 $400, 12%, 30 years 1,397,985
Are you willing to make the sacrifices necessary to meet your investment goals?
What will the consequences be if you don’t reach your investment goals?
Three to nine months of living expenses Have access to other sources of cash for emergencies
Line of credit is a short-term loan approved before the money is needed
Calculate return on an investment Rate of return: income you receive on an investment over a
financing for your investments What do you value Participate in elective savings programs
Payroll deduction or electronic transfer Make extra effort to save one or two months each year Take advantage of gifts, inheritances, and windfalls
0 -10 -5 0 5 10 15 20 25 30
14
Factors Affecting the Choice of Investments
To get a general idea of a stock’s price variability, we could look at the stock’s price range over the past year.
Use various sources of financial information that can reduce risks and increase investment returns
2
Preparing for an Investment Program
Objective 1: Describe why you should establish an investment program
9
Preparing for an Inves百度文库ment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 12% per year on your stocks, how much will you have accumulated after 15 years? Use time value of money calculation: pmt = 400, I = 12/12 = 1, n = 15*12 = 180 FV = ? FV = $199,832
Explain how asset allocation and different investments alternatives affect your investment plan
Recognize the importance of your role in a personal investment program
7
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $200 per month in
the stock market. If you earn 6% per year on your stocks, how much will you have accumulated after 10 years? Use time value of money calculation: pmt = 200, I = 6/12 = 0.5, n = 10*12 = 120 FV = ? FV = $32,775
10
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 12% per year on your stocks, how much will you have accumulated when you retire in 30 years? Use time value of money calculation: pmt = 400, I = 12/12 = 1, n = 30*12 = 360 FV = ? FV = $1,397,985
8
Preparing for an Investment Program (continued)
The value of long term investment program After graduation, you plan to invest $400 per month in
the stock market. If you earn 6% per year on your stocks, how much will you have accumulated after 15 years? Use time value of money calculation: pmt = 400, I = 6/12 = 0.5, n = 15*12 = 180 FV = ? FV = $116,327
13
Factors Affecting the Choice of Investments
Company A
Company B
0.5 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05
0 4
8
12
0.2 0.18 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02
Investments range from very safe to very risky
Annual Rates of Return 1926-2002
Standard Deviation
Small-
33.2%
Stock
Large-
20.5
Stock
Long-term
8.7
Corp-bond
Long-term
Cash advance on your credit card
6
Preparing for an Investment Program (continued)
GETTING THE MONEY NEEDED TO START AN INVESTMENT PROGRAM
How badly do you want to achieve your investment goals Are you willing to sacrifice some purchases to provide
Chapter 13 Investing Fundamentals
Chapter 13 Learning Objectives
Describe why you should establish an investment program
Assess how safety, risk, income, growth and liquidity affect your investment decisions