{"id":30711,"date":"2023-12-07T09:46:26","date_gmt":"2023-12-07T09:46:26","guid":{"rendered":"https:\/\/masterskills.org\/blog\/tang-tri-gia-von-capital-appreciation-la-gi-nguyen-nhan-dan-den-tang-tri-gia-von.html"},"modified":"2023-12-23T06:14:14","modified_gmt":"2023-12-22T23:14:14","slug":"tang-tri-gia-von-capital-appreciation-la-gi-nguyen-nhan-dan-den-tang-tri-gia-von","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/tang-tri-gia-von-capital-appreciation-la-gi-nguyen-nhan-dan-den-tang-tri-gia-von.html","title":{"rendered":"T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n (Capital Appreciation) l\u00e0 g\u00ec? Nguy\u00ean nh\u00e2n \u0111\u1eabn \u0111\u1ebfn T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Picserver.org<\/p>\n<\/div>\n<\/div>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/font><\/span><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Capital Appreciation<\/b>.<\/p>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/b> l\u00e0 s\u1ef1 gia t\u0103ng gi\u00e1 th\u1ecb tr\u01b0\u1eddng c\u1ee7a m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 hay l\u00e0 s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n

V\u00ed d\u1ee5, n\u1ebfu m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 mua m\u1ed9t c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 10$ sau \u0111\u00f3 gi\u00e1 c\u1ed5 phi\u1ebfu t\u0103ng l\u00ean 12$, th\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n 2$. Khi nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n c\u1ed5 phi\u1ebfu n\u00e0y \u0111i, 2$ ki\u1ebfm \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 m\u1ed9t kho\u1ea3n l\u00e3i v\u1ed1n.\u00a0<\/i><\/p>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n l\u00e0 ph\u1ea7n l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t qu\u00e1 gi\u00e1 mua th\u1ecb tr\u01b0\u1eddng ban \u0111\u1ea7u hay chi ph\u00ed \u0111\u1ea7u t\u01b0 ban \u0111\u1ea7u.\u00a0<\/p>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n c\u00f3 th\u1ec3 x\u1ea3y ra v\u1edbi nhi\u1ec1u nguy\u00ean nh\u00e2n kh\u00e1c t\u00f9y thu\u1ed9c v\u00e0o th\u1ecb tr\u01b0\u1eddng v\u00e0 lo\u1ea1i t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c giao d\u1ecbch.\u00a0<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/font><\/h3>\n

M\u1ed9t s\u1ed1 t\u00e0i s\u1ea3n t\u00e0i ch\u00ednh \u0111\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 \u0111\u1ec3 ki\u1ebfm kho\u1ea3n t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n l\u00e0: \u00a0\u00a0<\/i><\/p>\n

\u00a0– B\u1ea5t \u0111\u1ed9ng s\u1ea3n\u00a0<\/p>\n

\u00a0– C\u00e1c qu\u0129 t\u01b0\u01a1ng h\u1ed7 ho\u1eb7c c\u00e1c qu\u0129 \u0111\u1ea7u t\u01b0 v\u00e0o nhi\u1ec1u lo\u1ea1i ch\u1ee9ng kho\u00e1n kh\u00e1c nhau\u00a0<\/p>\n

\u00a0– C\u00e1c qu\u0129 ETF hay c\u00e1c qu\u0129 ho\u00e1n \u0111\u1ed5i danh m\u1ee5c ho\u1eb7c ch\u1ee9ng kho\u00e1n theo ch\u1ec9 s\u1ed1 (v\u00ed d\u1ee5 nh\u01b0 ch\u1ec9 s\u1ed1 S&P 500)<\/p>\n

\u00a0– C\u00e1c h\u00e0ng h\u00f3a nh\u01b0 d\u1ea7u ho\u1eb7c \u0111\u1ed3ng\u00a0<\/p>\n

\u00a0– C\u1ed5 phi\u1ebfu\u00a0<\/p>\n

Kho\u1ea3n t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/b> s\u1ebd kh\u00f4ng ch\u1ecbu thu\u1ebf, tuy nhi\u00ean khi b\u00e1n kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0 l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c thu v\u1ec1 l\u00e0 kho\u1ea3n t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n, th\u00ec kho\u1ea3n lo\u1ea1i nhu\u1eadn n\u00e0y s\u1ebd b\u1ecb \u0111\u00e1nh thu\u1ebf v\u00e0 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 m\u1ed9t kho\u1ea3n l\u00e3i v\u1ed1n.\u00a0<\/p>\n

L\u01b0u \u00fd r\u1eb1ng, t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n kh\u00f4ng ph\u1ea3i l\u00e0 ngu\u1ed3n l\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0 duy nh\u1ea5t. Ngo\u00e0i t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n, c\u1ed5 t\u1ee9c v\u00e0 thu nh\u1eadp l\u00e3i l\u00e0 hai ngu\u1ed3n thu nh\u1eadp ch\u00ednh kh\u00e1c cho c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n c\u1ed9ng v\u1edbi c\u1ed5 t\u1ee9c hay l\u1ee3i nhu\u1eadn t\u1eeb l\u00e3i l\u00e0 t\u1ed5ng l\u1ee3i nhu\u1eadn.\u00a0 \u00a0<\/i><\/p>\n

Nguy\u00ean nh\u00e2n \u0111\u1eabn \u0111\u1ebfn T\u0103ng\u00a0tr\u1ecb gi\u00e1 v\u1ed1n\u00a0<\/font><\/h3>\n

Gi\u00e1 tr\u1ecb c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 t\u0103ng v\u00ec nhi\u1ec1u l\u00ed do. Nguy\u00ean nh\u00e2n ch\u1ee7 y\u1ebfu d\u1eabn \u0111\u1ebfn t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n\u00a0<\/b>c\u00f3 th\u1ec3 l\u00e0 do c\u00e1c \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf v\u0129 m\u00f4 thu\u1eadn l\u1ee3i nh\u01b0 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf ho\u1eb7c c\u00e1c ch\u00ednh s\u00e1ch ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c n\u1edbi l\u1ecfng nh\u01b0 gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u1ec3 k\u00edch th\u00edch t\u0103ng tr\u01b0\u1edfng cho vay hay vi\u1ec7c ch\u00ednh ph\u1ee7 b\u01a1m ti\u1ec1n v\u00e0o n\u1ec1n kinh t\u1ebf \u0111\u1ec3 k\u00edch th\u00edch chi ti\u00eau. \u00a0\u00a0<\/p>\n

Gi\u00e1 c\u1ed5 phi\u1ebfu<\/i> c\u00f3 th\u1ec3 t\u0103ng do c\u00f4ng ty \u0111ang ho\u1ea1t \u0111\u1ed9ng t\u1ed1t v\u00e0 c\u00f3 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng nhanh h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh.\u00a0<\/p>\n

Gi\u00e1 nh\u00e0 \u1edf<\/i> c\u00f3 th\u1ec3 t\u0103ng l\u00ean do c\u00e1c c\u00f4ng tr\u00ecnh c\u00f4ng c\u1ed9ng m\u1edbi nh\u01b0 b\u1ec7nh vi\u1ec7n, tr\u01b0\u1eddng h\u1ecdc hay c\u00e1c trung t\u00e2m mua s\u1eafm m\u1ecdc l\u00ean g\u1ea7n khu v\u1ef1c nh\u00e0. N\u1ec1n kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng m\u1ea1nh c\u0169ng c\u00f3 th\u1ec3 l\u00e0m gia t\u0103ng nhu c\u1ea7u nh\u00e0 \u1edf do ng\u01b0\u1eddi d\u00e2n c\u00f3 vi\u1ec7c l\u00e0m \u1ed5n \u0111\u1ecbnh v\u00e0 thu nh\u1eadp cao h\u01a1n. \u00a0\u00a0 <\/p>\n

\u0110\u1ea7u t\u01b0 \u0111\u1ec3 T\u0103ng\u00a0tr\u1ecb gi\u00e1 v\u1ed1n\u00a0<\/font><\/h3>\n

T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n<\/b> th\u01b0\u1eddng l\u00e0 m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee7a nhi\u1ec1u qu\u0129 t\u01b0\u01a1ng h\u1ed7. C\u00e1c qu\u0129 n\u00e0y t\u00ecm ki\u1ebfm c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 ti\u1ec1m n\u0103ng s\u1ebd t\u0103ng gi\u00e1 tr\u1ecb d\u1ef1a tr\u00ean k\u1ebft qu\u1ea3 thu nh\u1eadp v\u00e0 c\u00e1c s\u1ed1 li\u1ec7u c\u01a1 b\u1ea3n kh\u00e1c.\u00a0<\/p>\n

C\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 nh\u1eafm t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n th\u01b0\u1eddng c\u00f3 r\u1ee7i ro cao h\u01a1n c\u00e1c t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 \u0111\u1ec3 b\u1ea3o to\u00e0n v\u1ed1n ho\u1eb7c t\u1ea1o ra thu nh\u1eadp nh\u01b0 tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7, tr\u00e1i phi\u1ebfu \u0111\u00f4 th\u1ecb ho\u1eb7c c\u1ed5 phi\u1ebfu tr\u1ea3 c\u1ed5 t\u1ee9c.\u00a0<\/p>\n

Do \u0111\u00f3, c\u00e1c qu\u0129 t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n \u0111\u01b0\u1ee3c coi l\u00e0 th\u00edch h\u1ee3p nh\u1ea5t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0a th\u00edch r\u1ee7i ro.\u00a0<\/p>\n

C\u00e1c qu\u0129 t\u0103ng tr\u01b0\u1edfng th\u01b0\u1eddng \u0111\u01b0\u1ee3c xem l\u00e0 c\u00e1c qu\u0129 t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n do c\u00e1c qu\u0129 n\u00e0y \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c c\u00f4ng ty \u0111ang c\u00f3 t\u1ed1c \u0111\u1ed9 ph\u00e1t tri\u1ec3n nhanh ch\u00f3ng \u0111\u1ec3 t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a qu\u0129.\u00a0 \u00a0\u00a0<\/p>\n

Tr\u00e1i phi\u1ebfu T\u0103ng\u00a0tr\u1ecb gi\u00e1 v\u1ed1n\u00a0<\/font><\/h3>\n

Tr\u00e1i phi\u1ebfu t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi c\u00e1c c\u01a1 quan ch\u00ednh quy\u1ec1n \u0111\u1ecba ph\u01b0\u01a1ng n\u00ean c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ch\u1ee9ng kho\u00e1n \u0111\u00f4 th\u1ecb.\u00a0<\/p>\n

C\u00e1c tr\u00e1i phi\u1ebfu n\u00e0y g\u1ed9p t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n l\u00e3i cho \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n, t\u1ea1i th\u1eddi \u0111i\u1ec3m \u0111\u00e1o h\u1ea1n nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c m\u1ed9t kho\u1ea3n ti\u1ec1n bao g\u1ed3m gi\u00e1 tr\u1ecb c\u1ee7a tr\u00e1i phi\u1ebfu v\u00e0 t\u1ed5ng l\u00e3i \u0111\u01b0\u1ee3c t\u00edch l\u0169y.\u00a0<\/p>\n

Do v\u1eady tr\u00e1i phi\u1ebfu t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n kh\u00e1c v\u1edbi tr\u00e1i phi\u1ebfu truy\u1ec1n th\u1ed1ng tr\u1ea3 l\u00e3i h\u00e0ng n\u0103m. \u00a0\u00a0<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 T\u0103ng\u00a0tr\u1ecb gi\u00e1 v\u1ed1n\u00a0<\/font><\/h3>\n

M\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 mua m\u1ed9t c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 10$ v\u00e0 c\u1ed5 phi\u1ebfu tr\u1ea3 c\u1ed5 t\u1ee9c h\u00e0ng n\u0103m l\u00e0 1$, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi t\u1ec9 l\u1ec7 chi tr\u1ea3 c\u1ed5 t\u1ee9c l\u00e0 10%. Sau m\u1ed9t n\u0103m c\u1ed5 phi\u1ebfu \u0111ang giao d\u1ecbch \u1edf m\u1ee9c 15$ m\u1ed9t c\u1ed5 phi\u1ebfu v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn \u0111\u01b0\u1ee3c c\u1ed5 t\u1ee9c 1$.\u00a0<\/p>\n

Do v\u1eady, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 kho\u1ea3n l\u1ee3i nhu\u1eadn t\u0103ng th\u00eam 5$ do t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n v\u00ec gi\u00e1 c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00e3 t\u0103ng t\u1eeb 10$ gi\u00e1 mua ban \u0111\u1ea7u (hay chi ph\u00ed ban \u0111\u1ea7u) l\u00ean 15$ gi\u00e1 th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu hi\u1ec7n t\u1ea1i.\u00a0<\/p>\n

Gi\u00e1 c\u1ed5 phi\u1ebfu t\u0103ng l\u00ean d\u1eabn \u0111\u1ebfn l\u1ee3i nhu\u1eadn t\u0103ng 50% t\u1eeb kho\u1ea3n t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n. L\u1ee3i nhu\u1eadn t\u1eeb t\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n c\u1ed9ng v\u1edbi l\u1ee3i nhu\u1eadn t\u1eeb c\u1ed5 t\u1ee9c l\u00e0 t\u1ed5ng l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 phi\u1ebfu l\u00e0 6$ hay t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n l\u00e0 60%.\u00a0 \u00a0<\/p>\n

(theo investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n T\u0103ng tr\u1ecb gi\u00e1 v\u1ed1n (ti\u1ebfng Anh: Capital Appreciation) l\u00e0 s\u1ef1 gia t\u0103ng gi\u00e1 th\u1ecb tr\u01b0\u1eddng c\u1ee7a m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 hay l\u00e0 kho\u1ea3n ch\u00eanh l\u1ec7ch gi\u1eefa gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30711"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30711"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30711\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}