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Constant Proportion Portfolio Insurance (CPPI). Konzeption, Aufbau und Anwendung

Constant Proportion Portfolio Insurance (CPPI). Konzeption, Aufbau und Anwendung

          
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About the Book

Studienarbeit aus dem Jahr 2020 im Fachbereich BWL - Investition und Finanzierung, Note: 2,3, FernUniversität Hagen, Sprache: Deutsch, Abstract: Diese Arbeit untersucht das Thema "Constant Proportion Portfolio Insurance" (CPPI) und geht hierbei auf Strategien, Formeln und wichtige Parameter ein. Die CPPI-Strategie soll auch auf unterschiedliche Beispielszenarien angewandt werden. Immer wieder rufen große Börsencrashs Verunsicherung bei Kapitalanlegern hervor. Starke Kursrückgänge innerhalb weniger Monate, wie dies 1987 am Schwarzen Montag, 2000-2002 durch die Dotcom Blase und zuletzt 2008 durch die Finanzkrise der Fall war, haben den Investoren immer wieder vor Augen geführt, dass ein Anlageportfolio erhebliche Risiken birgt und dieses massiven Marktschwankungen ausgesetzt sein kann. Bereits 1956 haben Versicherungsgesellschaften in England begonnen, Versicherungspolicen gegen Marktrisiken anzubieten. Der Begriff Portfolio Insurance (PI) tauchte in diesem Zusammenhang zum ersten Mal in Leland und Rubinstein (1976) auf. Der Einsatz von Wertsicherungsstrategien etablierte sich jedoch erst ab Anfang der 1980er Jahre, vor allem in den USA, bis sie schließlich im Jahr 1987 einen Höhepunkt an Popularität erreichten, als sich der erste weltweite Börsencrash nach dem Zweiten Weltkrieg ereignete. Immer wieder sind PI-Strategien seither in die Kritik geraten, weil ihnen nachweislich eine destabilisierende Wirkung auf den Aktienmarkt zugeschrieben wurde. Jedoch kann man heute anhand von langfristigen Analysen behaupten, dass der richtige Einsatz der Strategien ein hilfreiches Instrument im Rahmen der Gesamtanlagekonzeption für Portfolios darstellt, da sie einen wichtigen Schutz vor systematischen Kapitalmarktrisiken bieten können. Anleger sind an Strategien interessiert, die es ermöglichen, eine Portfoliomindestrendite zu sichern (downside protection) und gleichzeitig die Partizipationschancen an einer positiven Kapitalmarktentwicklung (upside participation) zu wahren. Rüc


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Product Details
  • ISBN-13: 9783346125781
  • Publisher: Bod Third Party Titles
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 44
  • Spine Width: 3 mm
  • Width: 148 mm
  • ISBN-10: 3346125785
  • Publisher Date: 28 Jan 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 68 gr


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