개인IPS

목차

Reading 9 Managing Individual Investor Portfolio
1. Situational Profiling
2. Psychological profiling(Willingness to take risk와 연관)
1. Return Objective
2. Risk Objective
3. Constraints

Reading 11 Estate Planning in a Global Context
1. Introduction
2. Domestic Estate Planning: Some Basic
3. Core Capital and Excess Capital
4. Transferring Excess Capital
5. Estate Planning Tools
6. Cross-Border Estate Planning

Reading 12 Concentrated Single-Asset Positions
1. Introduction
2. Concentrated Single-Asset Positions: Overview
3. General Principles of Managing Concentrated Single-Asset Positions
4. Managing the Risk of Concentrated Single-Stock Positions
5. Managing the Risk of Private Business Equity
6. Managing the Risk of Investment Real Estate

본문내용

1 Situational Profiling
① Source of Wealth(Willingness to take risk와 연관)
 Passively accumulated wealth(Below)
e.g. inheritance, windfall, or through long, secure employment and conservative investment.
 Actively accumulated wealth(Above)
e.g. through entrepreneurial activity
※ (주의) Business risk는 taking하지만 investment risk는 taking하지 않는 경우가 있다
⇒ Willingness 결정 시 statements or actions을 유심히 살펴라.
② Measure of Wealth(Willingness to take risk와 연관)
 If an investor perceives his wealth as small(Below)
 If an investor perceives his wealth as large(Above)
③ Stage of Life(Ability to take risk와 연관)
 Foundation phase
⇒ Long time horizon(Above) ↔ Little financial wealth(Below)
⇒ Long time horizon(Above) + Large financial wealth through inheritance(Above) ⇒ Above
 Accumulation phase
⇒ Still long time horizon(Above) + Financial wealth↑(Above) ⇒ Above
 Maintenance Phase(retirement)
⇒ Declining the ability to take risk, but not low
 Distribution phase
⇒ Assets>needs, a process of distributing assets to others can begin.
⇒ For the wealthy, still long-time horizon(죽음을 넘어서니까)⇒(Above)

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