Smanbi paiumun mpenda

HHxe h npeäcTaBnro cBoe BHäeHHe npoöeccoB, HMeromHX MecTO Ha pHHKe bo BpeMH XH3HH TpeHäa, ot ero 3apoxäeHHH äo cMepTH. B Ka^ecTBe npHMepa BO3LMeM äBHxeHHe Kypca Äonnapa no OTHomeHHro c HeHe Ha ^acoBOM rpa^HKe. Ea30Ba» BanroTa -Äonnap (HMeHHO ero öeHHocTL OTpaxaeTcH Ha rpa^HKe Ha phc. 9.1., KOTHpyeMaH - Heia).

HTaK, phhok HaxoäHTcH b cTarHHpyromeM coctohhhh. ÄKTHBHOcTL H3O äHH B äeHL OcTaeTcH HeBHcOKOft, HBHOrO HHTepeca HHBecTopoB He omymaeTcH. Ho BeäL TpeftäepaM Haäo KaK-TO 3apa6aTLiBaTb, BeäL ohh, KaK npaBHno, He MoryT höh He xotht ocTaBHTL oäHH phhok h nepeftTH Ha äpyroft, Ha KOTOpOM ecTL äBHXeHHe H aKTHBHOcTL. BanTOTHHft cerMeHT - STO HX pa6oTa, h hm OcTaeTcH HrpaTL äpyr c äpyroM b Haäexäe Ha to, ^to "h Ha hx ynHöe 3aäepxHTcH rpy3OBHK c npHHHKaMH". Eme oäHa nepcoHa - KpynHHft, MaTeptift HHBecTop (HHcaftäep, ecnH yroäHo) npHXoäHT k BHBOäy, ^to noKynKa äaHHoro aKTHBa c ropH3OHTOM b roä MOMeT (HMeHHO TaK paccyxäaeT oh Ha aBTOMaTe - "MoxeT", nocKonLKy npeKpacHO npeäcTaBnHeT ce6e BepOHTHOcTHyTO npHpOäy PHHKa) OKa3aTLcH BecLMa npH6tMLHOft cäenKoft. Ho oh äocTaTO^HO MaTeptift änH Toro, ^to6h cpa3y KynHTL BecL nnaHHpyeMHft o6teM. Oh 3HaeT, ^to He ycneeT oh KynHTL ^eTBepTL SToro o6teMa, KaK TpeftäepH h äpyrHe HHBec-TOpH noftMyT ^TO npOHcXOäHT. nOSTOMy OH Ha^HHaeT Ha6HpaTL noTHXOHLKy. HecKonLKO äHeft, HHoräa c nepepHBaMH. OcTa-

HOBKy oh âeëaeT Toräa, Koräa öeHa noäxoäHT k BepxHeô rpaHHöe cëoxHBmeroca ToproBoro äHana30Ha. npH stom oh He âeëaeT HH^ero, KpoMe Toro, ^to yôèpaeT cboh 3aaBKH. TpeôâepH, yBHäeB, ^TO noäflepxKa HcnapHëacL, 6hctpo 3aKpHBaroT otkph-Ttie yrpoM câeëKH h npoBOöHpyroT âBHœeHHe bhh3. TaK poœâa-eTca "myM" BToporo nopaäKa, ecëH n03B0ëHTe ero TaK Ha3BaTü. "fflyM" nepBoro nopaäKa - sto yœe ynoMHHaBmHeca HrpH caMHx TpeéâepoB. B peçyëûTaTe mh HMeeM cëeâyroùyro KapTHHKy -öeHH KOëeôëTOTca Meœy äByMa ypoBHHMH, K0T0pHe oôpaçyroT öeHOBOH KaHaë HëH, KaK ero eùe moxho HaçBaTt, ToproBHH äHana30H (pèc. 9.1).

ÏpeânoëoxHM, ^to HHBecTopy yäanocü TaKHM 06pa30M KynHTü çanëaHHpoBaHHLiH o6teM. Ho çaTeM HHcaöäepcKaa HH^opManHH cTaëa 06ùe£0cTynH0H HëH äpyroö HHBecTop "npoçpeë" b OTHomeHHH äaHHoro aKTHBa. Ha^HHaeTca cHëûHaa BOëHa noêynoK. HrpoKH âeôcTByroT KaK 6h HaneperoHKH, BOBëeKaa cBoeô arpeccHBHocTüro b phhok hobhx y^acTHHKOB h cpHBaa cTon-npHKa3H, KOTopHe cKonHëHcû BHme BepxHeô rpaHHöH KopHäopa. B pe3yëûTaTe mh noëy^aeM 6oëLmyro "cBe^y", npo6HBmyro rpaHHöy äHana30Ha nëroc BHcoKHe o6teMH ToproB. TaKaa KapTHHa HMeHyeTca "6p3HKayr" (breakout). TpeéâepH, paHee npoäaBmHe BaëroTy, o6ecne^HBaroT noääepxKy pHHKy Ha BepxHeô rpaHHöe 6HBmero KopHäopa. KpoMe SToro ecTt y^acTHHKH, K0T0pHe He ycneëH npHrayTL b yxoâHùHH noe3ä h œâyT yäo6ioro MOMeHTa. Ectl h TaKHe, kto yMHmëeHHO HrpaeT npoTHB 6p3H-Kayra, nocKOëûKy cTaTHcTH^ecKH Ha KaXäHH HcTHHHHH npOpHB npHxOäHTca KaK MHHHMyM äBa ëoxHHx. B HameM cëy^ae npopHB He ëoxHHH, nocKOëûKy mh H3Ha^aëLH0 npeânoëoxHëH npHcyrcTBHe Ha pHHKe KpynHoro HrpoKa. Toräa ^epe3 KaK0e-T0 BpeMa HepBH MeäBeäeö, KaK h HepBH ono3äaB0Hx Ha^HHaroT cäaBaTü, h phhok noëy^aeT cëeâyroùHH HMnyëûc BBepx. ÏpopHB BepxHeô rpaHHöH ToproBoro äHana30Ha TaKœe H3o6paœeH Ha pèc. 9.1.

Âaëee TpeHä pa3BHBaeTca 3a c^eT noêynoK co ctopohh Bce 6oëee h 6oëee 3ano3äaB0Hx, a TaKxe HepemHTeëLHHx h coMHeBaroùèxca. HeMaëHÔ BKëaâ b pa3BHTHe TpeHäa bhocht TpeéâepH, Ha^HHaroùèe o^epeäHoft äeHü c noêynoK b Haâeœâe Ha npoâOëœeHHe KëHeHTcKHx noêynoK. Ho! HacToaùHM äBHra-

Pue e

Te.eM TpeH^a HB^aroTca Bce Te xe MaTepte HHBecTopH, K0T0pHe, yóe^HBmHCL b npaBH^LHocTH cbohx 0neH0K, cMe.ro yBe.n-^HBaroT n03HHHH B0 BpeMH KOppeKUHH.

HaKOHen, neHa ^0cTHraeT yp0BHen, pacc^HTaHHHX MaTe-pHMH HHBecT0paMH. OíH Ha^HHaroT H36aB.HTBcH 0T aKTHB0B. ^eñcTByroT Bce TaKxe aKKypaTH0, KaK n npH n0KynKe. npn 3T0M aKTHB Bce e^e 0cTaeTca "ropa^HM nnp0XK0M" n HHBecT0pH He ncnHTHBaroT np0á.eM c .HKBHnH0cTLro. ra3eTH n Te.eBnaeHne B0Bcro Kpn^aT 0 3Be3^H0M ^ace 6a30B0r0 aKTHBa n na^eHHH K0TnpyeM0H Ba^roTH, npe^peKaroT en cK0pyro cMepTL n 0nncLi-BaroT Bapnanm n npenMy^ecTBa a.LTepHaTHBHHX B.0xeHHH. K 3T0My M0MeHTy MaTepte HHBecT0pH yxe n0^TH np0^a.n cB0H 06úeMH. OcH0BHaa xe Macca nrp0K0B B0cnpnHHMaeT Heá0.üm0e cHnxeHne neHH, KaK 0^epe,nHyro K0ppeKnnro n cnemnT KynnTL 60.üme. 3an0^03pHBmne He.a^H0e, 0cTa.LHHe rpaM0THtie HHBecT0pH n cneKy.HHTH pemaroT 3a^HKcnp0BaTL npn6H.L npn n0^X0^e neHti k ee MaKcnMa.LHHM 3Ha^eHHHM. Hey^HBHTe.LH0, ^to neHa n0^HHMaeTca b cT0p0Hy ^0cTHTHyT0r0 nnKa BH0Bü, 6htl M0xeT n0^TH ^0cTnraeT er0 h.h .axe c.erKa er0 npeBHmaeT, H0 n0T0M pe3K0 Ha^HHaeT nadara. Ha 3T0M 3Tane ^.a 60.ümnHcTBa 0nHTHHX HHBecT0p0B nrpa yxe c^e.aHa n MH0rne H3 hhx n^yT apyrne aKTHBH (^HTan - "yx0^HT"), a Han60.ee arpeccnBHLie B006^e np0^aroT. B pe3y.LTaTe npe^ro-xeHHe B03pacTaeT, cnp0c na^aeT, a HH0r.a nc^e3aeT B0Bce, H60 Bce KT0 X0Te. KynnTL, yxe KynH.n. Ha pncyHKe 9.1. n0Ka3aH M0MeHT $0pMnp0BaHHH nnKa.

KaKne xe bhb0,0h M0xH0 c.e.aTL H3 0nncaHH0r0 MexaHH3Ma $yHKnn0Hnp0BaHHH ptHKa? Mh nepe^nc.HM hx b BH^e c0BeT0B:

♦ CTapanTecü pacn03HaTL npncyTcTBne HHTepeca Ha n0KynKy, K0r.a neHa Bce e^e Hax0^HTca b K0pnnppe.

♦ CTapanTecü KynnTL cpa3y npn np060e K0pní0pa.

♦ He T0p0nnTecL np0.aBaTL Ha nepB0H K0ppeKnnn T0^H0, a Ha n0c.e.yro^nx cTapanTecü 060cH0BaHH0 pacn0.0xnTL cT0n-npnKa3.

♦ 3aKpHBanTe n03nnnro n0 cT0n-npnKa3y n 6e3 c0xa-.eHHH.

♦ He nmanTecL tobhtl to^Htie mhhhmómh h MaKcnMy-mh.

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