Ngawaphi amagama okusisigxina oza kuwakhetha kwimarike yestokhwe ye2020?

Iqela libonakala lisafakwa kwiimarike ze-equity, ngakumbi e-United States kuxhomekeke ekuqaleni konyaka omtsha. Ukuya kuthi ga kwinqanaba lokuba uluvo ngokubanzi phakathi kwabahlalutyi bezemali abazimeleyo kukuba "banjengoko bebengekho ixesha elide." Kodwa into ekufuneka iqinisekisiwe ngeli xesha kukude kangakanani amanqanaba abo anokufikelela kuwo kunye nakwisigxina sokuba baqondise imisebenzi kwimarike yemasheya: imfutshane, iphakathi okanye inde. Kuba iya kuba yenye yezona zitshixo zibalulekileyo zokuqaqambisa impumelelo okanye hayi kutyalo-mali sijonge phambili kwiinyanga ezimbalwa ezizayo.

Kule meko ngokubanzi, kubalulekile ukuba uchaze imigaqo yotyalo-mali kuba inokuba yinto eyahlulahlula utyalomali olufanelekileyo kuleyo ingeyiyo. Ngale ndlela, kunyanzelekile ukuba kwenziwe Isicwangciso esifanelekileyo Kutyalo-mali oluya kuthi ekugqibeleni umsebenzisi wezentengiso makazithathele ingqalelo ixesha aya kuthi abhekise kulo. Kuba isicwangciso esiza kusetyenziswa siza kuxhomekeka kuyo ukuze inzuzo ibe yeyona ifanelekileyo, kuba ayifani nokusebenza kwixesha elifutshane kunakwithuba elide. Umahluko obalulekileyo kwisiphumo sokugqibela sokusebenza.

Akunakulityalwa ukuba kulo nyaka kwakhona, ixabiso eliphantsi lemali, njengesiphumo sesigqibo se-European Central Bank (i-ECB), iya kuthi ibangele indawo elungileyo yenkunzi yabatyali mali abancinci nabaphakathi ukuba baye kwiimarike zengeniso . Kungenxa yokuba yeyona ilungileyo kuko konke ukwenza ukonga kunenzuzo, nangona umngcipheko ocacileyo ukuba yonke imisebenzi yayo ibandakanye. Kuba kuyinyani ukuba unokufumana imali eninzi, kodwa kukwamkeleka ngakumbi ukushiya ii-euro ezininzi endleleni. Imeko ekufuneka siyiphephe ngazo zonke iindleko ukugcina imali eyenzelwe olu hlobo lotyalo-mali kuqhelekile phakathi kwabasebenzisi bemarike yemasheya.

Ixesha lokuhlala: lifutshane

Lo ngunyaka, ngenxa yeempawu zawo ezizodwa, ezilungele ukuhambisa imisebenzi yeemarike zesitokhwe ngexesha elifutshane. Ukwenza oku, kufuneka siqwalasele kukhuseleko lolwelo oluvumela ukuba singene kwaye siphume kwezi marike zezimali ngokulula. Kwaye okubaluleke ngakumbi kukuba, ekugqibeleni, asizukufumana sitokhwe, njengoko kuye kwenzeka kuthi kwiminyaka edlulileyo. Ngale ndlela, esona sisombululo sisiso kufuneka ibe kukukhetha okhuseleko kunye nongxowankulu ophezulu kunye nendlela efanelekileyo yokujonga ezokhuseleko ezenza isalathiso esikhethiweyo sezabelo zamazwe, i-Ibex 35. Ezi zezona nkampani zidweliswe ngokukhuselekileyo esinokuthi fumana okwangoku.

Ngelixa kwelinye icala, ukhetho lwesi sicwangciso sotyalo-mali luya kusivumela ukuba senze imisebenzi ngokukhawuleza kwaye sinako ukonwabele izibonelelo ezinokubakho oko kuyakusizisela le misebenzi kwintengiso yemasheya. Ngaphandle kokulinda ixesha elide elinokuthi litshintshe imeko yeemarike zezabelo nangawuphi na umzuzu. Ukulungiselela le nto, kulunge kakhulu ukukhetha amaxabiso esitokhwe abonelela ngendlela echazwe kakuhle yokunyuka kwaye ukuba kunokwenzeka ngokunyuka kwevolumu yokuthengisa, kulungile, kungcono kunokuba ngcono. Iya kuba sisiqinisekiso esihle kuthi ukugqibezela ngempumelelo ukuvulwa kwezikhundla kwiimarike zezabelo.

Umsebenzi wexesha eliphakathi

Ukusebenza kwiimarike ze-equity zexesha eliphakathi lolunye ukhetho olunokubakho kubatyali zimali abancinci nabaphakathi kulo nyaka oqalileyo. Banomngcipheko omncinci xa bejongana notshintsho olunokwenzeka kwindlela enokuthi ivele kwiinyanga ezizayo, kodwa nangona kunjalo yeyona ndlela inokusebenziseka ngakumbi kubasebenzisi besitokhwe abalondolozayo. Ngomsebenzi wokusisigxina phakathi kweenyanga ezili-6 ukuya kwezingama-18 malunga. Apho kungayi kubakho khetho ngaphandle kokuya kukhetho lwesitokhwe esinokuvela okuqinisekileyo kwiimarike zezemali. Ukuba kunokwenzeka, into ekuthiwa yibhanki yehagu ixabisa ngawo ukwenza ibhegi yokonga ezinzileyo ngexesha esineendawo ezivulekileyo kwimarike yemasheya.

Ukusebenza kwexesha eliphakathi, kwelinye icala, kufuneka kube ehlanganiswe yimimiselo yokulahleka kokuyeka okanye uyeke ilahleko ngaphambi kwento enokwenzeka ukusukela ngoku. Ke ngale ndlela, kwaye kwimeko encomekayo kwimarike yemasheya, ilahleko ezinokubakho zinokulinganiselwa ngendlela efanelekileyo kakhulu kwimidla yabatyali mali abancinci nabaphakathi, oko kukuthi, emva kwayo yonke loo nto, yintoni ebandakanyekileyo kula matyala. Ngokuchanekileyo ngexesha apho ukuphela kokunyuka kwiimarike ze-equity kungasondela kakhulu. Ngokukodwa, emva kokunyuka kwiminyaka yakutshanje kwaye kwimeko ethile ye-Ibex 35 kukhokelele kumanqanaba asondele kakhulu kwii-euro ezingama-9.700 XNUMX ngesabelo ngasinye. Ukusuka apho ubuncinci ukulungiswa kokuqwalaselwa okuthile kunokuthathwa.

Ixesha elide elinomngcipheko omkhulu

Okokugqibela, kukho amaxesha amade okusisigxina kwizikhundla kwimarike yemasheya kwaye ngamanye amaxesha yathathelwa ingqalelo njengecebo lokuzikhusela okanye iprofayili yolondolozo, ngoku izinto zitshintshile kwaye kuye kwaba kukukhetha okunomngcipheko omkhulu. Kungenxa yokuba, ngeli xesha, eliqala kwiminyaka emithathu, linokunika into engaphaya kwesinye kubotyalo-mali abancinci nabaphakathi ukusukela ngoku. Ngenxa yomjikelo apho iimarike ze-equity zikhona ngalo mzuzu. Apho kunokwenzeka ukuba ibe khona ukuvelisa izilungiso ezibalulekileyo nezibalulekileyo oko kungathoba ixabiso lesikhundla sotyalo-mali. Nokuba sithini na isicwangciso sotyalo-mali esiza kusisebenzisa ukusukela ngoku.

Kwelinye icala, kufuneka kugxininiswe ukuba ukuba sikhetha olu hlobo lwexesha elide lotyalo-mali, asisayi kuba nesisombululo ngaphandle kokubhenela kwezona zithethe zizinzileyo kwiimarike zezabelo zamashishini ethu. Ngokukodwa, abo basasaza izabelo phakathi kwabanini zabelo kwaye banokuthi baxele inqanaba lonyaka kunye nomgangatho wenzala ozinzileyo oscillates phakathi kwe-4% kunye ne-8%. Ngale ndlela, iinkampani zombane zinokuba sisisombululo kwiingxaki zethu kuba azizinzanga njengabanye. Ngokuzinza kumaxabiso ayo ekufuneka ibonakalisiwe kwaye enokusinceda ukuba senze ipotifoliyo ezinzileyo yotyalo-mali kunenye indlela. Njengokuba ezi zindululo zenza ukhetho lokwenza ulondolozo lube nenzuzo kula maxesha mide.

Ngezinye iiasethi zemali

Esinye isisombululo kwiingxaki zethu zotyalo-mali sinokubakho ngokufakwa kwezinye ii-asethi eziyimali ngaphandle kweemarike zezabelo. Omnye wale mizekelo unokumelwa yi izibophelelo ezinxulumene nokunyuka kwamaxabiso Ewe banokwenza kakuhle kakhulu ukusukela ngoku ukuya ngenxa yeempawu zabo ezizodwa. Olona khetho lunokubekwa kule mveliso ikhethekileyo yemali kukusebenzisa imali yotyalo-mali edityaniswe nezi bhondi kwaye esenza isicwangciso esifanelekileyo sokuphucula imali eseleyo kwi-akhawunti yethu kule minyaka izayo.

Esinye isibonelelo esele sinaso kukuvula izikhundla ngokuphakathi kwigolide enikezwe inyani yokuba ingaqhubeka nokunyuka kwayo kule minyaka izayo. Ngaphandle kwento yokuba ibiyenye yeempahla zexabiso ezixabise kakhulu kulo nyaka uphelileyo, ngenzuzo ejikeleze i-50%. Enye yezona ntengiso ziphezulu zinokusinika zona ngeli xesha. Nangona kukho umngcipheko ongaphezulu kokucacileyo wokuba ezi zinto zigqithileyo zinokulungiswa ukusukela ngoku ukuya phambili kwaye ke oko kunokubangela ukoyikeka okungaqhelekanga kubathengisi nangaliphi na ixesha.

Ukhetho olusekwe kwikota

Ayilulo lonke ukhuseleko olubonisiweyo ngokwemigaqo efanayo, kodwa kukho amathuba okuba lutyalomali ngamaxesha athile. Ngenxa yoko, ezo zikhuseleko ezinento yokuqikelela eyomeleleyo zimiselwe imigaqo emifutshane (i-Ercros, iAvanzit, iNatra, njl. Abanye, ngokuchaseneyo, bafuna ixesha eliphakathi ukuze bafumane izibonelelo ezinokuthi zilandelwe. Kule meko, amaxabiso anokuqokelelwa ngu okulindelweyo yenziwe (Rovi Logista okanye Atresmedia).

Kwaye okokugqibela, kukho amaxabiso afuna ixesha elingakumbi ukufezekisa iinjongo ezibekiweyo. Zizinto zokuzikhusela ezinje ngeebhanki, umbane okanye iindlela. Kuzo naziphi na iimeko, la magama anokuhlengahlengiswa ngokuxhomekeke kwindaleko kwixabiso lokhuseleko ekubhekiswa kulo, kwaye njengoko ixesha lotyalo-mali lifutshane, kokukhona liya kufuna ingqalelo yomtyali mali omncinci. Isicwangciso sotyalo-mali sokuzikhusela ngakumbi kunakwamanye amagama kwaye sifuna indlela eyahlukileyo yokusebenza kwaye ayingabo bonke abatyali zimali abancinci nabaphakathi abanokufaka isandla ukusukela ngoku.


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