No ke aha e nānā ai i ke ao no ka hāʻawi?
Nui nā manawa ma ka mōʻaukala kahi i ulu ai nā'āina i hoʻomohalaʻia mai nā hua liʻiliʻi. Eia kekahi laʻana,ʻo ka United States, Europe , a me Iapana ka mālamaʻana i nā loiloi liʻiliʻi maʻamauʻole mai ka pilikia o ka makahiki 2008. Ua hoʻomakaʻoʻAmelika Huipūʻia e hoʻonui i ka huina kālā i ka 2016 a me ka 2017, akā,ʻaʻole i loaʻa i ka Pākehā Central European (ECB) he hapa pakeneka o ka uku aʻo ka Bank of Japan he hapa hoihoi maikaʻiʻole, ma ka hopena o ka makahiki 2017.
ʻO nā haʻawina haʻawina haʻahaʻa e hāpai ana i ke kumukūʻai o ka waiwai kiʻekiʻe ma muli o ka mea maʻalahi o ke kumukūʻai e hōʻai'ē kālā,ʻo ia hoʻi,ʻo ka mea e noi ana i nā mea kūʻai kālā e kūʻai i nā mea kūʻai ma nā kāleka'āina, hiki ke uku i ka uku. Hiki i nā'eneki kūlepa kūʻai kālā ke hāʻawi aku i nā meaʻoi aʻe ma kahi iʻoi aku ka maikaʻi o kaʻikeʻana ma kēia mau hihia. Hiki keʻikeʻia nā mea kūʻai kūloko ma muli o ke kumukūʻai o nā kālā i loaʻa i nā haʻawina liʻiliʻi - akā, hiki i ka hoʻolakoʻana ke hāʻawi i nā pōmaikaʻi lōʻihi.
ʻO ka waiwai āpau a me nāʻainaʻelua, heʻelua mau papa'āina no ka poʻe e noi ana i ka hua.
Ma hope o nā mea a pau, ke uku nui nei nā hale kūʻai waiwai i nā kālā a pau mai nā uku hoʻolimalima (maʻAmelika Huipūʻia kahi e ukuʻia ai ka uku) a me nā paʻahao e hana mau i ka uku paneʻe ma mua o ka ukuʻana i kahi nui nui (koe aʻe nā zero coupon mau). ʻO ka nīnau no nā mea hoʻolale kālā he: He aha ka meaʻoi aku maikaʻi loa ma nā haʻahaʻa hoʻolālā pili haʻahaʻa pili haʻahaʻa?
Hoʻopili i ka waiwai kūwaho o ka Honua
Hiki ke hāʻawi aku i kahi hoʻolimalima waiwai kūpono i ka hoihoi kūpono i ka hoʻohālikelikeʻana i nā koho o ka home i kahi manawa hoʻolimalima haʻahaʻa.
Eia kekahi laʻana, ua hāʻawi aku ka SPDR Dow Jones Global Real Estate ETF (RWO) i kahi 3.5 pakeneka puka a me ka 23.58x ka uku kūʻai ma ka mahinaʻo Nowemapa 2017 me ka 3.7 pakeneka puka a me ke 36.35x uku kūʻai kālā no ka SPDR Real Estate Sector ETF (XLRE ). ʻO keʻano o ka loaʻaʻana o nā mea kālā i ka hoʻolālā he 0.2 pakeneka wale no ka ukuʻana no ka ukuʻana i 12x hou ma kahi uku-uku kālā-ʻoiaiʻo ka uku-a-FFO paha he maʻa pololei loa.
Hoʻonui ka waiwai o nāʻoihana waiwai nui ma mua o kaʻoihana nui aku ma mua o nāʻoihana home-only real estate investments. Eia kekahi laʻana, he 60% ka nui o kaʻikeʻana o SPDR Dow Jones Global Real Estate ETF (United States Real Estate) i ka United States. ʻO nā hoʻololiʻino i nā kūleke kūʻai maʻAmelika Huipūʻia,ʻaʻole i loaʻa ka nui o ka hopena o kēia kālā ma keʻano he kālā waiwai waiwai US.
Ka mālamaʻana i nā Bond Aupuni
Hiki ke hāʻawi aku nā'atike i ke 'anoʻoluʻolu i nā haʻawina pili haʻahaʻa i nā palena haʻahaʻa liʻiliʻi.
No ka laʻana, ua hāʻawi aku ka iShaor JPMorgan Emerging Market Bond ETF (EMB) he 4.53 pakeneka kaʻina e like me ka iShares US Treasury Bond ETF (GOVT) 1.68 pakeneka ka ulu ma ka hopena o ka makahiki 2017.
Hiki paha i nā pōʻalepa hōʻailonaʻoi aku kaʻoi aku ka pilikia ma mua o nāʻaelike a ke aupuni US, akā,ʻo keʻano o ka waihona kālā kālepa i hoʻokaʻawale i nā pilikia. ʻO nā loina a ke aupuni, he mea palekana lākou ma mua o nāʻaelikeʻoihana.
Hiki ke hoʻopōmaikaʻiʻia nāʻaʻa i ka'Aiwi Puʻunaue i ka emiʻana o ka palena hoʻolālā'āina. Ma hope o nā mea a pau, he nui nā hui i nā makuka holomua e pili ana i ka hōʻai'ē kālā a ke kālā, a lilo i mea maʻalahi i ka hāʻuleʻana o ka huina kālā a me ka hōʻai'ē o ke kālāʻAmelika. ʻO kaʻaoʻao ma lalo,ʻo ka hōʻai'ē o nā kālāʻAmelika e hiki ke hōʻeha i nāʻoihana hoʻoweliweli i hoʻokuʻuʻia e hakakā me nā mea hana o US ma ka māhele honua.
Nā Manaʻo Nui e Manaʻo
Aia kekahi mau hihia koʻikoʻi nui e noʻonoʻo i ka wā e hoʻokomo ai i nā waiwai waiwai o nā'āina a me nā mō'ī paʻa, e like me:
- Ka Hoʻolālā Geopolitical : Eʻoi aku ka nui o ke kūpono o ke kumu waiwai o ka hoʻolālāʻana i nā'āpana'āina, i ka wā e hoʻomoʻonoʻaʻia ana nā'āpana kālā i kahi'āpana'āina.
- Ka Hoʻomohala kālā : Pono eʻike nā mea kūʻai i ka hopena o ka hoʻololi kālā o nā waiwai'ē aʻe i loko o nā kālāʻAmelika ke hoʻokaʻawale i nā waiwai'ē o nā hua.
- 'Apono'Apono'Apono :ʻO nāʻaina a me nā waiwai iʻoi aku ka maʻalahi i nā loli o nā kumukūʻai ma mua o nā waiwai'ē aʻe, a he mea nui ka uku no ka uku paneʻe.
- Paʻi Paʻi : E hiki ana paha ke emiʻole ka paʻaʻana o nāʻokoʻa o ka mākeke ma mua o nā mea i hoʻopaʻaʻia a ua nui nā manawa o nā pale i ka manawa.