How does the stock market work? - Oliver Elfenbaum

Prevodilac: Kristina Radosavljević Lektor: Ivana Krivokuća

In the 1600s

Početkom 17. veka,

the Dutch East India Company employed hundreds of ships

Holandska istočnoindijska kompanija angažovala je hiljade brodova

to trade gold, porcelain, spices, and silks around the globe.

da prevoze zlato, porcelan, začine i svilu širom sveta.

But running this massive operation wasn’t cheap.

Ali vođenje ovako velikog posla nije bilo jeftino.

In order to fund their expensive voyages,

Kako bi finansirala svoja skupa putovanja,

the company turned to private citizens–

kompanija se obratila privatnim licima -

individuals who could invest money to support the trip

pojedincima koji bi želeli da ulože novac kako bi podržali put,

in exchange for a share of the ship’s profits.

u zamenu za deo profita koji bi brod ostvario.

This practice allowed the company to afford even grander voyages,

Ova praksa je omogućila kompaniji da finansira još duža putovanja,

increasing profits for both themselves and their savvy investors.

povećavajući profit kako sebi, tako i svojim pametnim ulagačima.

Selling these shares in coffee houses and shipping ports across the continent,

Prodajući svoje akcije u kafeterijama i lukama širom kontinenta,

the Dutch East India Company unknowingly invented the world’s first stock market.

Holandska istočnoindijska kompanija nesvesno je izumela prvu svetsku berzu.

Since then, companies have been collecting funds from willing investors

Od tada, kompanije prikupljaju sredstva od ulagača koji su voljni

to support all kinds of businesses.

da podrže razne vrste poslova.

And today,

Danas,

the stock market has schools, careers, and even whole television channels

berza ima škole, karijere, pa čak i kompletne televizijske kanale

dedicated to understanding it.

posvećene širenju znanja o ovoj temi.

But the modern stock market is significantly more complicated

Ali moderno berzansko tržište je znatno komplikovanije

than its original incarnation.

od izvornog oblika berze.

So how do companies and investors use the market today?

Kako kompanije i ulagači danas koriste tržište?

Let’s imagine a new coffee company that decides to launch on the market.

Zamislimo novu kompaniju kafe koja odlučuje da izađe na tržište.

First, the company will advertise itself to big investors.

Prvo, kompanija će se promovisati kod velikih ulagača.

If they think the company is a good idea,

Ako smatraju da je kompanija dobra ideja,

they get the first crack at investing,

oni daju prvi ulog,

and then sponsor the company’s initial public offering, or IPO.

a potom sponzorišu inicijalnu javnu ponudu tj. IJP.

This launches the company onto the official public market,

Ovo lansira kompaniju na zvanično javno tržište,

where any company or individual who believes the business could be profitable

gde svaka kompanija ili pojedinac koji veruju da posao može biti unosan

might buy a stock.

mogu kupiti akcije.

Buying stocks makes those investors partial owners in the business.

Kupovinom akcija, ovi ulagači postaju delimični vlasnici posla.

Their investment helps the company to grow,

Njihovo ulaganje pomaže kompaniji da napreduje,

and as it becomes more successful,

i kako ona postaje uspešnija,

more buyers may see potential and start buying stocks.

tako sve više kupaca vidi njen potencijal i počinje da kupuje akcije.

As demand for those stocks increases,

Sa povećanjem potražnje za akcijama,

so does their price, increasing the cost for prospective buyers,

raste i njihova cena, tako da se podiže cena za moguće kupce,

and raising the value of the company's stocks people already own.

a povećava se i vrednost akcija kompanije ljudi koji ih već poseduju.

For the company,

Za kompaniju,

this increased interest helps fund new initiatives,

ovo povećano interesovanje pomaže u finansiranju novih inicijativa,

and also boosts its overall market value

i takođe podiže njihovu celokupnu tržišnu vrednost

by showing how many people are willing to invest in their idea.

pokazujući koliko je ljudi voljno da uloži u njihovu ideju.

However, if for some reason a company starts to seem less profitable

Ako se, pak, iz bilo kog razloga kompanija počne činiti manje unosna,

the reverse can also happen.

može se takođe desiti obrnuta situacija.

If investors think their stock value is going to decline,

Ako ulagači misle da će vrednost njihovih akcija opasti,

they’ll sell their stocks with the hopes of making a profit

oni će prodati svoje akcije, nadajući se da će ostvariti dobit

before the company loses more value.

pre nego što kompanija izgubi još više na vrednosti.

As stocks are sold and demand for the stock goes down,

Kako se akcije prodaju i potražnja za akcijama pada,

the stock price falls,

pada i cena akcija,

and with it, the company’s market value.

a sa tim i tržišna vrednost kompanije.

This can leave investors with big losses–

Ovo može naneti velike gubitke ulagačima -

unless the company starts to look profitable again.

osim ukoliko se kompanija ponovo ne učini kao unosan posao.

This see-saw of supply and demand is influenced by many factors.

Ovaj odnos ponude i tražnje je pod uticajem brojnih faktora.

Companies are under the unavoidable influence of market forces–

Kompanije se nalaze pod neizbežnim uticajem tržišnih sila

such as the fluctuating price of materials,

kao što je promenljiva cena materijala,

changes in production technology,

promene u proizvodnoj tehnologiji,

and the shifting costs of labor.

i promene cene radne snage.

Investors may be worried about changes in leadership,

Ulagači mogu da se zabrinu i oko promene u rukovodstvu,

bad publicity, or larger factors like new laws and trade policies.

loše slike u javnosti ili većih faktora kao što su novi zakoni

i trgovinska politika.

And of course,

I naravno,

plenty of investors are simply ready to sell valuable stocks

većina ulagača jednostavno je spremna da proda vredne akcije

and pursue personal interests.

u cilju ostvarivanja sopstvenog interesa.

All these variables cause day-to-day noise in the market,

Svi ovi elementi prave svakodnevne promene na tržištu,

which can make companies appear more or less successful.

koje mogu uticati da kompanija izgleda više ili manje uspešna.

And in the stock market,

A na berzanskom tržištu,

appearing to lose value often leads to losing investors,

kada izgleda kao da gubite vrednost, to često dovodi do gubitka ulagača,

and in turn, losing actual value.

a samim tim i gubitka stvarne vrednosti.

Human confidence in the market has the power to trigger

Poverenje ljudi u tržište ima moć da pokrene

everything from economic booms to financial crises.

bilo šta, od ekonomskog procvata do finansijskih kriza.

And this difficult-to-track variable

A zbog ovih elementa koje je teško pratiti,

is why most professionals promote reliable long term investing

većina profesionalaca preporučuje pouzdano dugoročno ulaganje

over trying to make quick cash.

umesto pokušavanja da se brzo obrne keš.

However, experts are constantly building tools

Ipak, stručnjaci stalno grade alatke

in efforts to increase their chances of success

u pokušaju povećanja šansi za uspehom

in this highly unpredictable system.

u ovom krajnje nepredvidivom sistemu.

But the stock market is not just for the rich and powerful.

Berzansko tržište nije samo za bogate i moćne.

With the dawn of the Internet,

Sa usponom interneta,

everyday investors can buy stocks

obični ulagači mogu kupovati akcije

in many of the exact same ways a large investor would.

na bezbroj istih načina kao što bi to činili veliki ulagači.

And as more people educate themselves about this complex system

Kada se ljudi bolje upoznaju sa ovim kompleksnim sistemom,

they too can trade stocks,

tada i oni mogu trgovati akcijama,

support the businesses they believe in,

podržati poslove u koje veruju,

and pursue their financial goals.

i krenuli ka ostvarenju svojih finansijskih ciljeva.

The first step is getting invested.

Prvi korak je ulaganje.