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TEORI PORTOFOLIO DAN ANALISIS INVESTASI

TEORI PORTOFOLIO DAN ANALISIS INVESTASI. TITIN HARTINI, S.E. M.Si. BAB I PENGERTIAN INVESTASI. DEFINISI INVESTASI TUJUAN INVESTASI PROSES INVESTASI - DASAR-DASAR KEPUTUSAN INVESTASI - PROSES KEPUTUSAN INVESTASI. DEFINISI INVESTASI.

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TEORI PORTOFOLIO DAN ANALISIS INVESTASI

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  1. TEORI PORTOFOLIO DAN ANALISIS INVESTASI TITIN HARTINI, S.E. M.Si

  2. BAB I PENGERTIAN INVESTASI • DEFINISI INVESTASI • TUJUAN INVESTASI • PROSES INVESTASI - DASAR-DASAR KEPUTUSAN INVESTASI - PROSES KEPUTUSAN INVESTASI TITIN HARTINI, S.E., M.Si

  3. DEFINISI INVESTASI • Investasi adalah komitmen sejumlah dana saat ini dengan harapan memperoleh sejumlah keuntungan di masa datang. • Pihak-pihak yang melakukan investasi: - Investor individual (individual/retail investors) - Investor institusional (institutional investors) • Investasi juga mempelajari bagaimana mengelola kesejahteraan investor (investor’s wealth). TITIN HARTINI, S.E., M.Si

  4. TUJUAN INVESTASI • Apa tujuan orang melakukan investasi?: - Untuk mendapatkan kehidupan yang lebih layak di masa datang. - Mengurangi tekanan inflasi. - Dorongan untuk menghemat pajak. - Dan lain-lain. TITIN HARTINI, S.E., M.Si

  5. PROSES INVESTASI: DASAR-DASAR KEPUTUSAN INVESTASI • Untuk memahami proses investasi, terlebih dahulu harus dipahami dasar-dasar keputusan investasi, yaitu: - Return - Risiko - Hubungan risiko dan return TITIN HARTINI, S.E., M.Si

  6. GAMBAR 1.1. HUBUNGAN RISIKO DAN RETURN Return increase in proportion Return Risk Risk increase in proportion to the Y axis High potential for fluctuation High Return Low potential for fluctuation Profit + Low Risk High Risk Low risk investments tend to have a low potential for fluctuation High risk investments tend to have a great potential for fluctuation - Losses Sumber: http://www.softcapital.co.jp/eigo/return1.html TITIN HARTINI, S.E., M.Si

  7. Return yang diharapkan Kontrak ‘futures’ Opsi ‘put’ & ‘call’ Ekuitas Internasional Tingkat bunga bebas risiko Saham Obligasi perusahaan Obligasi pemerintah RF Risiko diatas rata-rata Risiko moderat Risiko rendah Risiko sedang Risiko tinggi Risiko GAMBAR 1.2. HUBUNGAN RISIKO DAN RETURN PADA BERBAGAI ASET Sumber: Farrel, James L., 1997, “Portfolio Management: Theory and Application”, McGraw- Hill, Singapore, hal. 11. TITIN HARTINI, S.E., M.Si

  8. 1. Penentuan tujuan investasi Keputusan alokasi aset 2. Penentuan kebijakan investasi Batasan jumlah dana, pajak dan biaya pelaporan Strategi portofolio aktif 3. Pemilihan strategi portofolio Strategi portofolio pasif 3. Pemilihan aset Benchmarking terhadap indeks portofolio pasar 5. Pengukuran dan evaluasi kinerja portofolio GAMBAR 1.3. PROSES KEPUTUSAN INVESTASI TITIN HARTINI, S.E., M.Si

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