证券投资：5 投资组合.pptxVIP

证券组合管理理论证券组合是指个人或者机构投资者持有的各种证券的总称，包括各种类型的债券，股票和存款单等。证券组合管理的意义：1. 降低风险2. 减少投资的盲目性证券组合管理的方法证券组合管理的方法被动管理方法长期稳定持有跟踪市场指数的证券组合以获得市场平均收益的管理方法。主动管理方法经常预测市场行情或寻找定价错误证券，频繁调整证券组合获得高的收益的管理方法。资产收益率计算方法Return:Consists of yield and capital gain.Total return= Yield + Price changeYield: The income component of a stock return.Capital gain: the change in stock price over some period of time.RiskInvestment decisions involve a trade-off between the two--return and risk are on the opposite sides of the same coin.Risk: the chance that the actual return will be different from the expected return on an investment.Exp