TECHNIQUES AND METHODS OF INDIVIDUAL INVESTOR

Magistrsko nalogo sem zasnoval tako, da sem se v prvem delu posvetil opredelitvi samega pojma investiranja. Predstavil sem pojem investiranja, vzroke zanj, glavne razlike med investiranjem in trgovanjem ter jih opredelil z vidika individualnega investitorja/trgovalca. V nadaljevanju sem se dotaknil tudi področja finančne pismenosti in njene pomembnosti pri individualnem trgovanju, prav tako pa nisem pozabil na osebni finančni načrt, ki se lahko od vsakega posameznika precej razlikuje. Vsem finančnim načrtom pa je skupno, da morajo imeti jasno opredeljene finančne cilje, ki jih posameznik zasleduje, prav tako pa morajo biti jasno opredeljeni tudi načini za njihovo doseganje ter uspešno krmarjenje med donosi in tveganji. V nadaljevanju magistrske naloge sem se posvetil vrstam finančnih naložb, ki so nekakšen odraz racionalnosti v gospodarjenju s finančnimi prihranki. Čeprav se vsako leto pojavljajo neke nove oblike finančnih naložb, sem se sam posvetil le najzanimivejšim iz vidika dostopnosti malemu oziroma individualnemu vlagatelju. Podrobneje sem opisal bančne vloge, obveznice, delnice, investicijske sklade in naložbena življenjska zavarovanje, prav tako pa sem se dotaknil tudi bolj tveganega področja, trgovanja z valutami. Glede na odnos do tveganja in glede na svoje investitorske/trgovalne sposobnosti se bo vsak posameznik odločil, kolikšen odstotek svojega portfelja bo namenil posamezni finančni naložbi. Nekateri se bodo bolj posvetili delnicam in valutam, medtem ko bodo drugi svoja sredstva raje vložili v razne sklade in obveznice. Sledil je prikaz metod in modelov za ocenjevanje vrednosti podjetij. Odločil sem se za predstavitev na sredstvih (metoda čiste sedanje vrednosti, metoda presežnih donosov), na donosih (metoda diskontiranja, metoda kapitalizacije) in na tržnih primerjavah temelječih metod (metoda primerljivih podjetij uvrščenih na borzi, metoda primerljivih kupoprodaj podjetij). Te metode nam dajo dober vpogled v dejansko poslovanje podjetij, prav tako pa nam prikažejo njihovo realno vrednost na trgu, kar nam lahko zelo olajša odločitev o nakupu ali nenakupu določene delnice, obveznice ali sklada. V obsežni drugi točki magistrske naloge sem se posvetil tudi načinom pridobivanja informacij individualnega investitorja. Predstavil sem različne načine pridobivanja informacij preko raznih plačljivih in neplačljivih spletnih strani, za katerimi večkrat stojijo večja investicijska podjetja, dotaknil pa sem se tudi zanimivega področja spremljanja raznih blogov, kjer borzni guruji predstavljajo svoje vizije, poglede in tehnike. Področje pridobivanja informacij je zelo pomembno, saj bomo lahko le s pravočasnimi in verodostojnimi informacijami pri našem trgovanju dolgoročno uspešni. Za individualnega investitorja je priporočljivo, da zna sam opraviti temeljno in tehnično analizo vrednostnih papirjev, saj se bo na podlagi pridobljenih informacij lažje odločil o smotrnosti posamezne naložbe. Naslednje poglavje sem posvetil predstavitvi in primerjavi posameznih trgovalnih platform, ki so v zadnjem obdobju vse bolj razširjene in priljubljene. Predstavil sem tiste trgovalne platforme, ki se mi zdijo varne in enostavne za uporabo in sem jih že tudi sam preizkusil. Te so: TradePort, plus500 in eToro. Drugo točko magistrske naloge sem zaključil s predstavitvijo različnih tipov grafov, ki so nam lahko v veliko pomoč pri trgovanju, saj nam prikažejo gibanje tečajev v preteklosti in nam tako posledično pomagajo predvideti tudi gibanje tečajev v prihodnje. Sledila je še primerjava tehnične in temeljne analize ter prikaz njune uporabnosti iz vidika individualnega investitorja. V tretji točki, s katero sem sklenil prvi del magistrske naloge, sem se posvetil psihološkim dejavnikom odločanja vlagateljev. Investitorji navadno težimo k doseganju nadpovprečnih donosov, kar lahko privede do neracionalnega vedenja, zato je še toliko bolj pomembno, da znamo opravljati s tveganjem in se zavedamo raznih pasti investiranja, kot so premajhna razpršiThe first part of this master thesis aims at shaping the definition of investing. At the beginning, the concept of investing and the reasons behind this activity are given. The main differences between investing and trading are presented and defined by an individual trader\u27s/investor\u27s point of view. In the continuation, some attention is given to the financial literacy and its importance in individual trading. I especially stress the importance of personal financial plan. All the financial plans, which can vary depending on an individual, have some things in common: firstly, the financial goals, expected to be reached by an individual investor, must be clearly specified. Secondly, there must also be a clear definition of the methods enabling to reach these goals and to navigate successfully among risks and yields of the investing world. The continuation of this work is dedicated to different types of financial investments, which reflect a certain degree of rationality in the field of financial savings management. Despite new types of investments springing up every year, I decided to give more detailed attention only to those accessible to and interesting for a small, i.e. individual investor. These are bank deposits, bonds, shares, investment funds and investment life insurances as well as more risky ones, such as currency trading. An individual will divide their portfolio among different financial investement depending on their personal risk-attitude and investing/trading capacities. Some will prefere shares and currencies while other will opt for investing in different funds and bonds. The next chapter brings the presentation of methods and models applicable to the enterprise value estimation. I opted for the presentation based on assets (net present value method, excess earnings method), on yields (discounting method, capitalization method) and on market-comparison based methods (method of comparable businesses listed on stock-exchange, method of comparable purchase/sales of businesses). These methods offer a good insight into the real performance of businesses and show their real market value, thus being very useful when deciding about a purchase of a particular share, bond or fund. The second, quite extensive point of this thesis is dedicated to the ways in which an individual investor gets the necessary information. The information is available through various web sites, payable or free of charge, which are often established by important investment companies. I also mention different internet blogs as a platform for stock-markets gurus for spreading their visions, points of view and techniques. Knowledge about obtaining information is of an utmost inportance as only investing/trading based on timely and credible information can bring a long-term success. In the continuation, I present and compare some trade platforms, which have been recently expanding and growing in popularity. I have tested all the presented trade platforms myself and I have found them safe and user-friendly. These are: TradePort, plus500 and eToro. The second point of the thesis is concluded by presenting different types of graphs which can be a great help in trading. They show the currency movements in the past, and consequently they help to predict the currency movements in the future. I added the comparison of technical and fundamental analysis and the evaluation of their usefulness for an individual investor. The third and final point of the first part focuses on the psychological factors in the process of investors\u27 decision-making. In general, investors aim towards above-average yields. This can lead to the irrational behaviour. Therefore it is very important to have enough knowledge about risk management and to be aware of some investment traps, such as lack of assets spreading, too conservative or too risky attitude, the influence of emotions, derogations from the plan and herd instinct. A few pages are dedicated to the danger of the quasi financial experts present on the Internet. If an investor is not careful e