Iyo Yale Investment Portfolio Inoshanda chaizvo?

Mumakore makumi matatu apfuura, David Swensen akakura homwe yeYale University equity kubva pamadhora bhiriyoni kusvika pamadhora bhiriyoni makumi matatu. Maitiro ake ekudyara, anozivikanwa seYale Portfolio, akakurudzira zvizvarwa zvevanoisa mari uye akazvisimbisa sesarudzo yemasangano pasi rese. Asi hadzisi nyanzvi chete dzinogona kuishandisa: isu tinogonawo. Aya ndiwo maitiro atinogona kuita yedu stock investment nzira yeYale. 

Chii chinonzi Yale Model?🗺️

David Swensen akave nemukurumbira nekuda kwekudyara kwakasimba kwekudyara mumasheya ane njodzi, kutenda kwake mukusiyana-siyana, kutarisa kwake pakudyara kwenguva refu, uye kuda kwake kune zvimwe zvinhu zvakaita sehedge funds. Ichokwadi kuti haasi ese maturusi aaive nawo anowanikwa kune vatengesi vezvitoro, asi Swensen akanyora bhuku pamusoro pekuti vatengesi vega vega vangabatsirwa sei nemaitiro ake. Mubhuku rake, Swensen anotsanangura kuti vatengesi vane nzira nhatu dzekuita mari:

-Asset kugoverwa (sarudza musanganiswa weasset waunofanirwa kunanga mukufamba kwenguva)

-Security kusarudzwa (sarudza masheya ega ega anozopfuura pamusika)

-Nguva yemusika (nguva chaiyo yekutenga nekutengesa). Sekuona kwake, vatengesi vezvitoro vanofanirwa kutarisisa kwavo kwese pakugovewa kweasset, izvo zvinokonzeresa kuwanda kwe90% yemapotfolio anodzoka. Kukosha kushoma kwesarudzo yedu yekudyara mari uye nguva yemusika, tisingarevi chokwadi chekuti vanoda hunyanzvi uye zviwanikwa izvo munhu anodyara mari asina, zvinoreva kuti vanoisa mari sesu vari nani kuzvinzvenga zvachose. Tinofanira kutarisisa kuedza kwedu pakusarudza yakanakisa asset musanganiswa wekudyara kwedu kwemasheya?

Chipi es iyo yakanakisa kusanganiswa kwezvinhu zvekudyara kwedu mumasheya?🧺

Iyo yakakwana yekugovewa kweasset yekudyara kwemasheya edu, sekureva kwaSwensen, yakatarisana nekudyara kwemasheya akasiyana, tichifunga nezvemamiriro emunhu uye inofanirwa kunge iine midziyo ine mvura yakakwana uye inogona kuunza kudzoka kwenguva refu pasina kudiwa kwemanejimendi. Saka mastock, real estate uye treasury bond ndizvo zvese hasha; commodities, hedge funds, VC nemari dziri kunze (ese ari matatu anokundikana chekupedzisira chinodiwa). Izvi ndizvo zvinotaridzika seYale Model portfolio, yakagadzirirwa kune vatengesi vezvitoro:

Investment mumasheya zvipfuwo 📋

Vanogashira hafu yehuwandu hwekugoverwa sezvo vane hukuru hwenguva refu yekudzoka kwenhoroondo yezvinhu zviripo kwatiri. Kuisa mari mumasheya inofanira kuumba musimboti wemari yedu yemasheya, asi isu tinofanirawo kusanganisira chikamu chekudyara kwemari  international uye kuisa mari mumasheya misika yakabuda , kunyange nehuremu hwakaderera nekuda kwengozi yavo yakakura, nekuda kwekusiyana-siyana kwavanopa. Iye Mari yezvikamu iShares Core S&P 500 ETF (IVV), iyo Mari yezvikamu Vanguard Total International Stock ETF (VXUS) uye Vanguard FTSE Anobuda Masoko ETF (VWO) idzo dzakanakisa sarudzo dzekuwana mukana mukudyara mari mumisika yemumba, yepasirese uye iri kusimukira misika. 

Investment mune real estate stocks 🏘️

Ndiyo yechipiri inonyanya kukosha chikamu, ine huremu hwe20%. Swensen anovada mari yekudyara mumatura edzimba (REITs) nekuti vanopa kudzoka kwakanaka kwenguva refu uye dziviriro kubva mukukwira kwemitengo yavanotipa. Mudambudziko, vanogona kudonha pamwe chete nekudyara kwemari, asi ivo vanopa sosi yekusiyanisa kudzoka mune dzimwe nharaunda dzese, uye zvechokwadi nekufamba kwenguva. Iye Schwab US REIT ETF (SCHH) ndiyo yakanakisa sarudzo yekuwana mukana wekudyara mune real estate stocks. 

Kuisa mari muUS Treasury bond📜

Ivo vanonyanya kuvepo kuti vawedzere kudzivirira kune portfolio. Mabhondi haafanire kubereka zvakanyanya sekudyara mumasheya nekudyara muzvitoro zvezvivakwa nekuti anogona kubatsira kuita kuti kudzoka kuite kushomeka kana misika yakwira uye kuderedza kukanganiswa kwemapotfolio edu kana adzikira. Swensen haisanganisire mabhondi emakambani uye zvimwe zviridzwa zvemuhoro, vachipokana kuti havapi kudzivirirwa kweTreasuries kana kudzoka kunokwezva kwekudyara mumasheya. Iye Vanguard Intermediate-Term Treasury ETF (VGIT) ndiyo yakanakisa sarudzo yekuwana mukana kune treasury bond investment.  

Kuisa mari muInflation-Yakachengetedzwa Treasury Securities 🛑

Iwo anowedzerwa kumusanganiswa kuti ape yakawedzera dhizaini yekusiyanisa uye imwe yekuwedzera yekudzivirira inflation. Kana inflation yakakwira zvekukuvadza zvese mari yekudyara uye Treasury bond investing, MAZANO anofanira kubatsira kupfavisa kurova. Iye Schwab US MAZANO ETF ndiyo yakanakisa sarudzo yekuwana mukana wekudyara mune inflation-inochengetedzwa chengetedzo yepfuma. 

Zvino, zvakakosha kuyeuka kuti iyi portfolio inomiririra ingori pekutanga, uye Swensen anosimbisa kuti munhu anoisa mari pachedu anofanirwa kuchinjisa musanganiswa wekutanga weasset kumamiriro edu pachedu. Varidzi vepamba, semuenzaniso, vanofanirwa kunge vachidzikisa huremu hwavo muREITs, nepo varidzi vebhizinesi vachifanira kudzikisa kugoverwa kwavo kumari yekuisa mari. Nguva yenguva yakakoshawo: kana husiku hwedu huri pasi pemakore masere, tinofanira kuchengetedza chikamu chakakosha chepotfolio yedu mumari, pamwe ingangoita makumi mana muzana, tichisiya makumi matanhatu muzana yeYale portfolio.

Swensen anopikisa izvozvo rebalance Yedu portfolio chimwe chinhu chakakosha. Nenguva nenguva tichienzanisa musanganiswa weasset kuti uenderane nezvatakagoverwa, tinofanira kunyanya kutenga zvakawanda kana mitengo yakadzikira uye iri shoma kana yakwira, tichivandudza mitengo yedu yekupinda nekudzoka kwenguva refu. Izvi zvinofanirwa kureva zvakare kuti hatisi kudyara zvakanyanya mumisika yepamusoro uye zvinotibatsira kuona kuti tiri kutenga kana mitengo iri pasi. Zvinoreva zvakare kuti isu hatifanire kushamisika zvekuita kana misika ikafamba zvine mutsindo: isu tinongofanirwa kuita nemachina hurongwa hwedu hwekuyeresa.

Iyo Yale Stock Investment Strategy Yakakodzera Isu?⚖️

Iyo Yale Model yakachinjirwa kumutengesi investor isarudzo yakanaka kana isu tine:

• A refu-refu investment horizon (zvichida, makore gumi kana kupfuura)
• Kudzoka kunonzwisisika (iwe ungangowana mari shoma pane yaungaita kana iwe ukaisa zvese mumasheya)
• Njodzi (kugoverwa kwepamusoro kumidziyo ine njodzi kunoreva kuti ucharasikirwa nekurasikirwa kukuru kana misika ikavava, izvo zvavanoda kana ukadyara nguva yakakwana)
• Maitiro anonyanya kungoita (hapana kutengeserana kwakanaka, hapana kunhonga stock, hapana exotic assets)
• pikisana nazvo (kudzoreredza kuchakumanikidza kutenga zvinhu zviri kudonha uye kutengesa izvo zviri kuita zvakanaka)

Tinogona sei kutevedzera Yale's portfolio mune yedu stock investing?

Nzira inonyanya kushanda yekushandisa nzira mupodfolio yedu ndeyekushandisa mari yekuchinjana-kutengesa mari (ETFs). Isu takasarudza zvinhu kuti tiite mari yedu mumasheya akachipa, emvura uye akanyatsosiyanisa chikamu chega chega, uye tataura maticker aunofanira kushandisa kuyedza zano rako pachako uchishandisa. PortfolioVisualizer.

Chikamu	Inokurudzirwa ETF	Ticker yekushandisa	Ticker yekudzosera kumashure	%
Domestic stocks	Mari yezvikamu iShares Core S&P 500 ETF	IVV	SPY	30
International Actions	Mari yezvikamu Vanguard Total International Stock ETF	VXUS	Uye ZVINOGADZA	15
Emerging market stocks	Vanguard FTSE Anobuda Masoko ETF	VWO	EEM	5
Musha	Schwab US REIT ETF	CHS	IYR	20
Treasury bond	Vanguard Intermediate-Term Treasury ETF	VGIT	IEF	15
Treasury Inflation Protected Securities (TIPS)	Schwab US MAZANO ETF	SCHP	ZANO	15

Ngatitarisei, iyo isina kuganhurirwa Yale modhi, iyo Swensen yakamhanya zvakabudirira mukoreji, ine zvakawanda zvakawanda zvekuratidzira pane iyo modhi yakarongedzerwa kune mumwe munhu anoisa mari. Swensen akawedzera akawanda akaturikidzana ekudzoka nekudyara mune zvisiri pamutemo masheya, kusarudza iyo chaiyo hedge homwe uye mamaneja ehomwe, uye kugara achichinja maitiro ake kune mamiriro emusika. Asi Kana iwe uchinetsekana kuti inflation inogona kusashanda kana iwe uri kutsvaga kusiyanisa portfolio yako yakanangana nekudyara muUS stocks, iyo vhezheni yakachinjirwa kune wekutengesa investor ndiyo inonakidza imwe nzira.