{"id":31136,"date":"2023-12-07T10:22:20","date_gmt":"2023-12-07T10:22:20","guid":{"rendered":"https:\/\/masterskills.org\/blog\/li-thuyet-ve-tong-so-hop-dong-ban-khong-la-gi.html"},"modified":"2023-12-23T07:25:07","modified_gmt":"2023-12-23T00:25:07","slug":"li-thuyet-ve-tong-so-hop-dong-ban-khong-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/li-thuyet-ve-tong-so-hop-dong-ban-khong-la-gi.html","title":{"rendered":"L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: contracts-for-difference)<\/p>\n<\/div>\n<\/div>\n

L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng<\/b> trong ti\u1ebfng Anh t\u1ea1m d\u1ecbch l\u00e0\u00a0Theory of total short selling contracts.
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L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng<\/b> l\u00e0 m\u1ed9t trong nh\u1eefng c\u01a1 s\u1edf l\u00ed thuy\u1ebft \u0111\u1ec3 ph\u00e2n t\u00edch k\u0129 thu\u1eadt trong ch\u1ee9ng kho\u00e1n.<\/p>\n

Ph\u00e2n t\u00edch k\u0129 thu\u1eadt l\u00e0 qu\u00e1 tr\u00ecnh nghi\u00ean c\u1ee9u xu h\u01b0\u1edbng l\u00ean xu\u1ed1ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 khuynh h\u01b0\u1edbng l\u00ean xu\u1ed1ng gi\u00e1 c\u1ee7a m\u1ed9t lo\u1ea1i ch\u1ee9ng kho\u00e1n nh\u1ea5t \u0111\u1ecbnh \u0111\u1ec3 xem x\u00e9t th\u1eddi \u0111i\u1ec3m th\u00edch h\u1ee3p cho vi\u1ec7c mua b\u00e1n ch\u1ee9ng kho\u00e1n.<\/p>\n

L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng<\/b><\/p>\n

H\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng \u00e1m ch\u1ec9 s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu b\u00e1n kh\u1ed1ng v\u00e0 ch\u01b0a mua \u0111\u01b0\u1ee3c l\u1ea1i. V\u00ec v\u1ecb th\u1ebf kh\u1ed1ng s\u1ebd ph\u1ea3i \u0111\u01b0\u1ee3c trang tr\u1ea3i b\u1eb1ng vi\u1ec7c mua v\u00e0o c\u1ed5 phi\u1ebfu, do v\u1eady m\u1ed9t s\u1ed1 nh\u00e0 ph\u00e2n t\u00edch tin r\u1eb1ng v\u1ecb th\u1ebf kh\u1ed1ng s\u1ebd t\u1ea1o l\u00ean m\u1ed9t \u00e1p l\u1ef1c l\u00e0m gi\u00e1 ch\u1ee9ng kho\u00e1n t\u0103ng l\u00ean.\u00a0<\/p>\n

T\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng cao l\u00e0 d\u1ea5u hi\u1ec7u th\u1ecb tr\u01b0\u1eddng t\u0103ng gi\u00e1 v\u00e0 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng th\u1ea5p b\u00e1o hi\u1ec7u th\u1ecb tr\u01b0\u1eddng gi\u1ea3m gi\u00e1. M\u1ed9t th\u1ef1c t\u1ebf l\u00e0 s\u1ed1 l\u01b0\u1ee3ng h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng lu\u00f4n \u1edf m\u1ee9c t\u01b0\u01a1ng \u0111\u1ed1i th\u1ea5p l\u00e0m gi\u1ea3m ni\u1ec1m tin c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng d\u1ef1 b\u00e1o m\u00e0 l\u00ed thuy\u1ebft \u0111\u01b0a ra.<\/p>\n

Gi\u1ea3 \u0111\u1ecbnh c\u1ee7a l\u00ed thuy\u1ebft<\/font><\/h3>\n

C\u00e1c gi\u1ea3 \u0111\u1ecbnh c\u1ee7a l\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng cho c\u00e1c nh\u00e0 ph\u00e2n t\u00edch k\u0129 thu\u1eadt trong d\u1ef1 \u0111o\u00e1n xu th\u1ebf bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u01b0 sau:<\/p>\n

– Th\u1ecb gi\u00e1 c\u1ee7a b\u1ea5t c\u1ee9 h\u00e0ng ho\u00e1 hay d\u1ecbch v\u1ee5 n\u00e0o \u0111\u1ec1u ho\u00e0n to\u00e0n \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1edfi m\u1ed1i quan h\u1ec7 cung c\u1ea7u.<\/p>\n

– Cung v\u00e0 c\u1ea7u \u0111\u01b0\u1ee3c quy\u1ebft \u0111\u1ecbnh b\u1edfi m\u1ed9t s\u1ed1 nh\u00e2n t\u1ed1, c\u1ea3 logic v\u00e0 phi logic. Nh\u1eefng nh\u00e2n t\u1ed1 n\u00e0y ngo\u00e0i c\u00e1c bi\u1ebfn s\u1ed1 kinh t\u1ebf trong ph\u00e2n t\u00edch c\u01a1 b\u1ea3n c\u00f2n bao h\u00e0m c\u00e1c y\u1ebfu t\u1ed1 kh\u00e1c nh\u01b0 t\u00e2m l\u00ed v\u00e0 d\u1ef1 \u0111o\u00e1n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0. Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n s\u1ebd ph\u1ea3n \u00e1nh c\u00e1c nh\u00e2n t\u1ed1 n\u00e0y m\u1ed9t c\u00e1ch \u0111\u1ea7u \u0111\u1ee7 v\u00e0 li\u00ean t\u1ee5c.<\/p>\n

– Ngo\u1ea1i tr\u1eeb m\u1ed9t s\u1ed1 dao \u0111\u1ed9ng nh\u1ecf trong ng\u1eafn h\u1ea1n, gi\u00e1 c\u1ea3 c\u00e1c ch\u1ee9ng kho\u00e1n v\u00e0 th\u1ecb tr\u01b0\u1eddng n\u00f3i chung \u0111\u1ec1u c\u00f3 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng theo c\u00e1c xu th\u1ebf, c\u00e1c xu th\u1ebf n\u00e0y di\u1ec5n ra trong c\u00e1c kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh.<\/p>\n

– C\u00e1c nguy\u00ean nh\u00e2n g\u00e2y ra c\u00e1c xu th\u1ebf tr\u1ed9i trong giao d\u1ecbch ch\u1ee9ng kho\u00e1n s\u1ebd \u0111\u01b0\u1ee3c ph\u00e1t hi\u1ec7n nh\u1edd v\u00e0o ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Tuy nhi\u00ean, c\u00e1c gi\u1ea3 \u0111\u1ecbnh tr\u00ean \u0111ang \u0111\u1eb7t ra nhi\u1ec1u v\u1ea5n \u0111\u1ec1 b\u00e0n c\u00e3i, c\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 theo tr\u01b0\u1eddng ph\u00e1i l\u00ed thuy\u1ebft th\u1ecb tr\u01b0\u1eddng hi\u1ec7u qu\u1ea3 kh\u00f4ng \u0111\u1ed3ng \u00fd v\u1edbi c\u00e1c gi\u1ea3 \u0111\u1ecbnh tr\u00ean.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n, NXB T\u00e0i ch\u00ednh<\/i>, )<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n L\u00ed thuy\u1ebft v\u1ec1 t\u1ed5ng s\u1ed1 h\u1ee3p \u0111\u1ed3ng b\u00e1n kh\u1ed1ng th\u01b0\u1eddng \u0111\u01b0\u1ee3c c\u00e1c nh\u00e0 ph\u00e2n t\u00edch k\u0129 thu\u1eadt tu\u00e2n theo \u0111\u1ec3 gi\u1ea3i th\u00edch c\u00e1c xu h\u01b0\u1edbng bi\u1ebfn \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng n\u00f3i chung v\u00e0 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n n\u00f3i ri\u00eang.\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\/31136"}],"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=31136"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31136\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}