Wyniki wyszukiwania - Biblioteka Nauki

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Inwestycje w surowce w połączeniu z polskim rynkiem kapitałowym. Analiza ryzyka i efektywności

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Potrykus M.

FINANSE Czasopismo Komitetu Nauk o Finansach PAN

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2016

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nr 1(9)

257-275

EN

The article presents the major categories and types of investments in commodities. Main goal of this paper is to examine whether the investment in Warsaw Stock Exchange index, combine with commodities, is the main component of optimal portfolio, characterized as portfolio with minimal risk. Article also establishes whether that traditional investment is the most important element of an investment portfolio with the highest efficiency. What is more it were found that all of the 29 analyzed investments in commodities are characterized by a weak correlation with traditional investment. Furthermore portfolio exhibiting the highest rate of return can be obtained from traditional investments analyzed in conjunction with investments in lead and gold. An investor who is looking for a portfolio with minimal risk should pay special attention to the combination of investment on the Polish capital market with investment in logs of wood and tobacco. Maximizing the efficiency gives the best results when shares listed on the stock exchange in Warsaw are combined with investments in gold, tobacco or beef. For those portfolios investments in commodities represents on average more than 85% of portfolio value.

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Inwestycja w wino – ocena sommelierów, rocznik i liczba punktów dystrybucji a wycena

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Potrykus M.

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace

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2015

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tom 3

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nr 3

173-188

PL

The paper uses Pearson correlation coefficients to analyze strength and directionof the interaction between: price of the wine and the vintage, the evaluationmade by sommeliers and wine price, price of wine and number of distributionpoints. Eight wine strains from the region of Bordeaux were analyzed. The strongestassociation was observed between the price of wine and vintage. The articlealso presents selected descriptive statistics for the price of wine, the assessmentprovided by sommeliers and the number of distribution points. On average, winecalled Petrus / Pomerol enjoys the highest recognition of sommeliers. Furthermore,estimated econometric models indicate that the average price of the analyzedstrains increased by 2.46% a year while the change in the evaluation of wine byone point affects the average change in price by 6.01%.

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Comparison of investment performance measures using the example of selected stock exchanges

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Potrykus M.

Nauki o Finansach

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2018

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nr vol.23 no. 2

30-46

EN

In this paper the main objective is to examine whether the selection of the performance measure influences the evaluation of individual investments and the performance rankings generated on that basis. This study presents the values of 16 performance indicators along with their detailed descriptions. All calculations were made using the R program, and the source code can be found at the end of the article. Nine selected stock indices were analysed during the period January 1997– December 2015, and the monthly logarithmic rates of return for these indices were calculated. For 14 out of the 16 measures analysed it was shown that the choice of effectiveness measure had no influence on the evaluation of individual investments; therefore it is not important whether the investor uses the Sharpe ratio or the Calmar ratio as an indicator of efficiency since both measures are almost identical in rank for a particular investment. This has not been confirmed for the Upside Potential ratio, which means that using this indicator may lead to different investment decisions in which the objective is to maximize efficiency. Moreover, based on the analysis it was found that the OMXC 20, DAX 30, and OMXS 30 indexes had the highest efficiency during the period January 1997–December 2015, while the AEX, WIG 20, and PSI 20 indexes were characterized with having the lowest levels of efficiency.

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Rynek inwestowania w sztukę jako przykład inwestycji alternatywnej

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Potrykus M.

Zarządzanie i Finanse

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2013

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tom 2

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nr 4

343-356

PL

W opracowaniu przedstawiono klasyfikację inwestycji emocjonalnych jako jednej z kategorii inwestycji alternatywnych. Ocenie poddano wpływ inwestorów chińskich na kondycję rynku sztuki. Zbadano zmienność stopy zwrotu dla wybranych krajowych rynków sztuki. Obliczono podstawowe miary sta¬tystyczne dla analizowanych inwestycji alternatywnych. Wskazano na potencjalne możliwości obniżenia ryzyka portfela inwestycyjnego poprzez odpowiednią dywersyfikację. Wyznaczono także współczynniki korelacji między badanymi inwestycjami alternatywnymi oraz podstawowymi indeksami GPW.