{"id":775,"date":"2013-05-25T16:41:24","date_gmt":"2013-05-25T15:41:24","guid":{"rendered":"http:\/\/www.inkomsten.se\/?p=775"},"modified":"2013-05-25T16:41:24","modified_gmt":"2013-05-25T15:41:24","slug":"tjana-pengar-pa-borsens-anomalier","status":"publish","type":"post","link":"https:\/\/sitetips.nu\/ekonomitips\/tjana-pengar-pa-borsens-anomalier\/","title":{"rendered":"Tj\u00e4na pengar p\u00e5 b\u00f6rsens anomalier"},"content":{"rendered":"
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I teorin stiger b\u00f6rskurserna f\u00f6r en aktie n\u00e4r ett f\u00f6retag g\u00e5r b\u00e4ttre och sjunker n\u00e4r det g\u00e5r s\u00e4mre. Marknaden fungerar dock s\u00e4llan precis som i teorin. Kursr\u00f6relser som inte g\u00e5r att f\u00f6rklara med ekonomiska modeller brukar kallas f\u00f6r anomalier. Genom att uppm\u00e4rksamma dessa anomalier kan man investera r\u00e4tt utan att s\u00e4tta sig in i resultatrapportens alla detaljer.<\/p>\n

Den tekniska analysen utnyttjar delvis s\u00e5dana m\u00f6nster, men kan ocks\u00e5 bli sj\u00e4lvuppfyllande. Om tillr\u00e4ckligt m\u00e5nga tror att b\u00f6rsen kommer g\u00e5 ner efter att b\u00f6rskurvan uppvisat tv\u00e5 tydliga dubbeltoppar s\u00e5 kommer m\u00e5nga att s\u00e4lja och b\u00f6rskursen g\u00e5 ner.<\/p>\n

M\u00e5nga anomalier utg\u00e5r fr\u00e5n \u00e5rstiderna.<\/p>\n

Det finns ett gammalt tales\u00e4tt som s\u00e4ger \u2019k\u00f6p till sillen och s\u00e4lj till kr\u00e4ftorna\u2019. Med det menas att aktier f\u00f6rv\u00e4ntas g\u00e5 bra under sommaren. Likas\u00e5 har b\u00f6rsen oftare g\u00e5tt b\u00e4ttre under \u00e5rets f\u00f6rsta m\u00e5nader \u00e4n under h\u00f6sten.
\nRisken \u00e4r dock att man \u00f6vertolkar s\u00e5dana m\u00f6nster d\u00e5 det verkliga utslaget kan variera ganska mycket fr\u00e5n \u00e5r till \u00e5r men j\u00e4mnas ut under en tillr\u00e4ckligt l\u00e5ng m\u00e4tperid.<\/p>\n

En annan anomali \u00e4r att aktier som stiger p\u00e5 rapportdagen \u00e4ven stiger de efterf\u00f6ljande m\u00e5naderna. studier d\u00e4r man f\u00f6ljt aktier\u00a0 60 dagar efter rapportdagen \u00e4r att kursen har stigit mer \u00e4n index om\u00a0 b\u00f6rsens mottagande vid rapporttillf\u00e4llet varit positivt oavsett 0m siffrorna varit b\u00e4ttre eller s\u00e4mre \u00e4n v\u00e4ntat.<\/p>\n

\u00c4ven s\u00e5dana anomalier kan dock ha logiska f\u00f6rklaringar. T.ex. att\u00a0 rapporten triggar ig\u00e5ng s\u00e5v\u00e4l negativa som positiva kursr\u00f6relser som forts\u00e4tter l\u00e5ng tid efter\u00e5t. En stark rapportdag tenderar att leda till en fortsatt positiv kursr\u00f6relse. Enligt en studie hade kursuppg\u00e5ngen f\u00f6r aktier som steg p\u00e5 rapportdagen ut\u00f6kats med i genomsnitt 5-6 procent 60 dagar senare. Ju mer aktien stiger inledningsvis, desto starkare blir i regel forts\u00e4ttningen.<\/p>\n

En annan k\u00e4nd anomali \u00e4r\u00a0 \u201dm\u00e5nadsskifteseffekten\u201d.\u00a0 Strategin g\u00e5r ut p\u00e5 att bara vara investerad ett f\u00e5tal dagar kring varje m\u00e5nadsskifte. Det \u00e4r n\u00e4mligen dessa som ger den st\u00f6rsta avkastningen. S\u00e4rskilt g\u00e4ller det den f\u00f6rsta b\u00f6rsdagen varje m\u00e5nad, som historiskt st\u00e5tt f\u00f6r hela 45 procent av \u00e5rsavkastningen f\u00f6r Stockholmsb\u00f6rsens storbolag enligt Carnegies statistik.T.ex. har strategin\u00a0 att k\u00f6pa till st\u00e4ngningskurs fem b\u00f6rsdagar innan varje m\u00e5nadsskifte och s\u00e4lja fyra dagar efter m\u00e5nadsskiftet\u00a0 gett i snitt 12,58 procent i effektiv avkastning mellan 1987-2012, att j\u00e4mf\u00f6ra med 9,06 procent f\u00f6r Stockholmsb\u00f6rsens storbolagsindex.<\/p>\n

En t\u00e4nkbar f\u00f6rklaring till denna anomali skulle kunna vara att l\u00f6neutbetalning sker i slutet av varje m\u00e5nad och d\u00e5 \u00e4ven m\u00e5nadssparande i fonder. Kapitalf\u00f6rvaltares fokus p\u00e5 m\u00e5nadsskiften och publicering av makrostatistik kring dessa \u00e4r andra m\u00f6jliga orsaker.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

I teorin stiger b\u00f6rskurserna f\u00f6r en aktie n\u00e4r ett f\u00f6retag g\u00e5r b\u00e4ttre och sjunker n\u00e4r det g\u00e5r s\u00e4mre. Marknaden fungerar dock s\u00e4llan precis som i teorin. Kursr\u00f6relser som inte g\u00e5r att f\u00f6rklara med ekonomiska modeller brukar kallas f\u00f6r anomalier. Genom att uppm\u00e4rksamma dessa anomalier kan man investera r\u00e4tt utan att s\u00e4tta sig in i resultatrapportens … Forts\u00e4tt l\u00e4sa Tj\u00e4na pengar p\u00e5 b\u00f6rsens anomalier<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[7,16],"tags":[],"class_list":["post-775","post","type-post","status-publish","format-standard","hentry","category-borsen","category-investeringar"],"yoast_head":"\nTj\u00e4na pengar p\u00e5 b\u00f6rsens anomalier - ekonomitips<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sitetips.nu\/ekonomitips\/tjana-pengar-pa-borsens-anomalier\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tj\u00e4na pengar p\u00e5 b\u00f6rsens anomalier - ekonomitips\" \/>\n<meta property=\"og:description\" content=\"I teorin stiger b\u00f6rskurserna f\u00f6r en aktie n\u00e4r ett f\u00f6retag g\u00e5r b\u00e4ttre och sjunker n\u00e4r det g\u00e5r s\u00e4mre. 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