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Portfolio Insurance: Darstellung und Bewertung statischer Portfolio-Insurance-Strategien für Aktienportfolios

Portfolio Insurance: Darstellung und Bewertung statischer Portfolio-Insurance-Strategien für Aktienportfolios

          
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About the Book

Studienarbeit aus dem Jahr 2009 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,0, Berufsakademie Welfenakademie Braunschweig, Sprache: Deutsch, Abstract: Die Kursrückgänge an den internationalen Kapitalmärkten Anfang des 21. Jahrhunderts haben vielen privaten und institutionellen Anlegern vor Augen geführt, dass reine Aktienportfolios mit erheblichen Risiken verbunden sein können. Durch die Krisenanfälligkeit der internationalen und insbesondere der deutschen Börse wurde bereits in den 80er Jahren die Idee einer Versicherung gegen Risiken aufgegriffen und mit dem Konzept der Portfolio-Insurance umgesetzt. Grundgedanke der Portfolio-Insurance war und ist eine Portfoliomindestrendite zu sichern und gleichzeitig Partizipationschancen an einer positiven Kapitalmarktentwicklung zu wahren.# Mit den Arbeiten von Black und Perold (1982) sowie Black und Jones (1987) erlebten die Portfolio-Insurance-Konzepte Mitte der Achtzigerjahre ihre Blütezeit. In den Neunzigerjahren verschwanden sie wieder vor allem angesichts der Aufwärtsbewegung an den Börsen fast vollständig vom Markt. Heute feiern sie aufgrund der veränderten Marktlage ein Comeback.# Die vorliegende Hausarbeit soll einen Überblick geben über die verschiedenen statischen Portfolio-Insurance-Strategien, die sowohl von Privatanlegern als auch von institutionelle Anleger in der Praxis angewandt werden können, um eine Wertsicherung in bestehenden Portfolios zu implementieren. Zu Beginn wird der Begriff Risiko definiert. Auf Grundlage dessen erfolgt eine Definition der Portfolio-Insurance. Der darauf folgende Abschnitt beinhaltet eine Übersicht von marktüblichen statischen Wertsicherungsmethoden. Im Speziellen werden hier die Stop-Loss-, die Protective-Put-, die Fiduciary-Call- sowie die Covered-Call-Strategie charakterisiert und anhand eines Beispiels berechnet. Zudem wird deren Wirkung graphisch dargestellt und eine Beurteilung für ihre Anwendbarkeit in der Praxis abgegeben. Der letzte Abschnitt, das Fazit, f


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Product Details
  • ISBN-13: 9783640538584
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 2 mm
  • Width: 140 mm
  • ISBN-10: 3640538587
  • Publisher Date: 18 Feb 2010
  • Height: 216 mm
  • No of Pages: 28
  • Series Title: German
  • Weight: 45 gr


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