贵金属投资技术分析英文版 (9)(精品·公开课件).pptVIP

Off-Farm Investment Content Intro To Off-Farm Investment Types of Investments Basic Analysis Getting Started Why Invest Off-Farm Savings For Future Education Retirement Risk Reduction Diversification Succession Planning Factors Affecting Investing Tax Considerations Need For Liquidity Need For Diversification Income Versus Growth Need To Use Asset As Collateral Management Administration Inflation The Generic Investment 3 Main Types Of Investments Cash (or near cash) Debt Bonds Debentures Mortgages Equity Common Shares Preferred Shares Partnership Interests Property Investment Trusts Investment Vehicles Savings Accounts Term Deposits GICs CSBs Securities Ownership Debt Real Estate Life Insurance Art Antiques Collectibles Commodities Mortgages Mutual Funds RRSPs Investment Pyramid Investment Income Interest Dividends Capital Gains (Losses) Profit (Loss) Investment Analysis Product / Service Income / Earnings Debt / Equity Management Cash Flow Types of Investment Cash Fixed Income Equities Other Cash / Cash Equivalents Savings Accounts Term Deposits CSBs Treasury Bills Money Market Fixed Income Bonds Debentures Government of Canada Provincial Government Municipal Corporate Discount Bonds Mortgage Bond Features Issued with a specific: Face amount Coupon rate Maturity May be: Short or long term Callable Retractable Convertible Based on $100 units Inversely related to interest rates Bond Ratings Dominion Bond Rating Service A++ Canadian Bond Rating Service AAA Rating: AAA - C Cutoff BBB Bond Fluctuation Simplified Example: 1 year, 5% Bond @ $100 In 1 year, it will be worth $105 If prevailing interest rates increase to 10% 5% Bond is now worth $95.45 PV = FV (l + r)n PV = 105 = $95.45 1.10 Bond Examples Discount Bonds Sold at a discount and matures at par The difference is interest income No periodic interest payments Strip / Zero Coupon Example: 5 year, $1000 strip bond @ $630 Yield = 9.68% Equity Investments Objectives: Obtain h