Strategi pembentukan dan evaluasi kinerja portofolio saham sesuai tipe investor :: Studi kasus terhadap saham yang terdaftar di Bursa Efek Jakarta

LUTHFIE, Indra Wijaya Kusuma, Dr.,MBA

2005 | Tesis | Magister Manajemen

Berkaitan dengan kegiatan investasi, terdapat 2 tipe investor, pertama tipe yang bersedia menanggung risiko (risk taker), kedua tipe yang cenderung menghindari risiko (risk averter). Investasi pada sekuritas saham akan selalu menghadapi risiko. Untuk mengurangi risiko tersebut, perlu dipilih emiten yang berkinerja dan berprospek baik berdasarkan angka fundamental ROA, EPS, PER dan PBV, serta dipilih saham yang prospektif memberikan keuntungan di kemudian hari. Selanjutnya perlu dilakukan diversifikasi dengan membentuk kelompok portofolio tipe risk taker atau tipe risk averter berdasarkan karakteristik saham, antara lain meliputi alpha, beta, return, risiko, koefisien variasi, koefisien korelasi dan kovarian, agar investor dapat menentukan pilihan investasinya sesuai tipe dan preferensi masingmasing. Tesis ini mencoba menerapkan langkahlangkah strategis dalam berinvestasi tersebut pada sekuritas saham yang diperdagangkan di Bursa Efek Jakarta.

In term of investment, there are 2 (two) types of investor, the first type is who willing to take the risk (risk taker), and the other is who tend to avert or to avoid the risk (risk averter). Investment in stock is always facing the risk. To reduce the risk, certain emitten should be sellected due to well performed and well prospected based on fundamental figures, ROA, EPS, PER and PBV, and prospectable stocks should be selected which will give many benefits in the future. Further more, there should be done a diversification by forming a group of risk taker typeportfolio or a group of risk averter typeportfolio based on stock characteristics, which are alpha, beta, return, risk, coefficient of variation, coefficient of correlation and covariance, so the investors are able to determind their selected investment according to their type and preference. The Thesis is trying to apply investment strategic steps in stocks registered in Jakarta Stock Exchange.

Kata Kunci : Manajemen Investasi,Kinerja Portofolio Saham,Risk Taker dan Risk Averter,ROA, EPS, PER, PBV, return, Excess Return to Beta (ERB), risk, alpha, beta, coefficient of variation, coefficient of correlation, covariance, risk taker, risk averter, diversificatio