All participants of the stock market are holders of securities, the aggregate of which is called a portfolio. Portfolio of securities - these are any securities (shares of all types, bonds and other documents) that represent a certain aggregate and belong to one person (physical or legal).
Usually, securities portfolio contains financial documents of different levels andissuers. This is done to provide greater security and protection against possible losses. Holders consolidate in their portfolio often diametrically opposed securities of various companies and organizations. The portfolio structure depends entirely on the policy of its owner. The company's securities portfolio is also being formed.
Securities are a market in whichIt is important to have an intuitive sense of profit. The securities portfolio of an individual owner has similar features with portfolios of other owners. They consist in the initial choice of the direction of work and the committent on certain criteria.
The behavior of investors can be different. The case of portfolio formation considered above is called protective. In other words, protective portfolio of securities is formed from documents whose intended course is characterized by relative unreliability. Such a portfolio, as a rule, is low-yielding.
Counterweight to this approach is aggressive securities portfolio Is a certain set of acquireddocuments, the owner of which in their attitude expects a sharp increase in the rate. However, such expectations are only predictable, so the formation of an aggressive portfolio always involves serious risks. It is necessary to understand that the more chances to get fast money, the greater the likelihood of getting into an illiquid zone.
Balanced securities portfolio - is a formed set of securities, which, according to the investor, rationally combines reliability, liquidity and profitability.
The choice of the investor's strategy is determined by the statemarket and his personal beliefs. On the market, the portfolio is an independent product. The main principles of forming a low-risk portfolio are as follows. This is the principle of conservatism (the possible risks are covered by income from reliable investments and assets), the principle of diversification (the expected low returns on securities can be compensated by higher incomes for another part), the principle of sufficient liquidity (the share of quick-realized incomes should not be below the level sufficient for current high-yield transactions).
Optimal portfolio of securities consists of assets that are characterized byminimum risk in comparison with other types of portfolios. A measure of risk is the standard deviation, which characterizes the probability of deviation of the level of profitability from the expected value. Risk and expected return are two mandatory parameters of any portfolio.
Today, the Russian securities market is developingfast enough. New stock markets are emerging, new securities are being issued, the annual volume of transactions with them is growing. In this situation, the most reasonable behavior is the policy of forming the optimal portfolio. There is a definite mathematical model that allows you to find the optimal structure of the portfolio. Using it, you can calculate the amounts that you want to invest in a portfolio. The mathematical model allows you to see the ratio of shares and expected revenues in percentage terms.
There are two approaches to choosing securities: technical and fundamental analysis. The first relates to the study of prices, the second - to the overall economic situation.