[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/www.fineli.cz\/proc-ma-cas-v-investovani-vetsi-vahu-nez-spravne-nacasovani-trhu\/#Article","mainEntityOfPage":"https:\/\/www.fineli.cz\/proc-ma-cas-v-investovani-vetsi-vahu-nez-spravne-nacasovani-trhu\/","headline":"Pro\u010d m\u00e1 \u010das v investov\u00e1n\u00ed v\u011bt\u0161\u00ed v\u00e1hu ne\u017e spr\u00e1vn\u00e9 na\u010dasov\u00e1n\u00ed trhu","name":"Pro\u010d m\u00e1 \u010das v investov\u00e1n\u00ed v\u011bt\u0161\u00ed v\u00e1hu ne\u017e spr\u00e1vn\u00e9 na\u010dasov\u00e1n\u00ed trhu","description":"Snaha nakoupit akcie na absolutn\u00edm dnu a prodat je na vrcholu je l\u00e1kav\u00e1. Pro v\u011bt\u0161inu lid\u00ed p\u0159edstavuje ide\u00e1ln\u00ed p\u0159edstavu o tom, jak se generuje bohatstv\u00ed","datePublished":"2026-06-22","dateModified":"2026-06-22","author":{"@type":"Person","@id":"https:\/\/www.fineli.cz\/author\/devene\/#Person","name":"devene","url":"https:\/\/www.fineli.cz\/author\/devene\/","identifier":1,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6808215d501bdbb001ef3734be3cdad1be23596de78c590ed2ac5868fce74c95?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6808215d501bdbb001ef3734be3cdad1be23596de78c590ed2ac5868fce74c95?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"fineli.cz","logo":{"@type":"ImageObject","@id":"\/logo.png","url":"\/logo.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.fineli.cz\/wp-content\/uploads\/money-2180330_1280_CDR9ua.jpg","url":"https:\/\/www.fineli.cz\/wp-content\/uploads\/money-2180330_1280_CDR9ua.jpg","height":0,"width":0},"url":"https:\/\/www.fineli.cz\/proc-ma-cas-v-investovani-vetsi-vahu-nez-spravne-nacasovani-trhu\/","about":["Finance"],"wordCount":850,"articleBody":"        Snaha nakoupit akcie na absolutn\u00edm dnu a prodat je na vrcholu je l\u00e1kav\u00e1. Pro v\u011bt\u0161inu lid\u00ed p\u0159edstavuje ide\u00e1ln\u00ed p\u0159edstavu o tom, jak se generuje bohatstv\u00ed na finan\u010dn\u00edch trz\u00edch. Realita je v\u0161ak takov\u00e1, \u017ee i profesion\u00e1ln\u00ed spr\u00e1vci fond\u016f s nejmodern\u011bj\u0161\u00edmi technologiemi m\u00edvaj\u00ed s touto strategi\u00ed dlouhodob\u011b probl\u00e9m. Na\u010dasov\u00e1n\u00ed trhu, v angli\u010dtin\u011b ozna\u010dovan\u00e9 jako market timing, toti\u017e vy\u017eaduje dv\u011b spr\u00e1vn\u00e1 rozhodnut\u00ed za sebou: v\u011bd\u011bt, kdy vystoupit, a odhadnout, kdy se vr\u00e1tit zp\u011bt. Finan\u010dn\u00ed historie ukazuje, \u017ee mnohem spolehliv\u011bj\u0161\u00ed cestou k \u00fasp\u011bchu je prost\u00fd \u010das str\u00e1ven\u00fd na trhu. Tento p\u0159\u00edstup stav\u00ed na trp\u011blivosti a matematick\u00e9 z\u00e1konitosti, kter\u00e1 pracuje ve prosp\u011bch investora bez ohledu na to, zda ekonomika pr\u00e1v\u011b proch\u00e1z\u00ed r\u016fstem, nebo reces\u00ed. Rizika spojen\u00e1 s \u010dek\u00e1n\u00edm na ide\u00e1ln\u00ed okam\u017eik \u010cek\u00e1n\u00ed na korekci trhu s hotovost\u00ed na \u00fa\u010dtu s sebou nese skryt\u00e9 n\u00e1klady. Prvn\u00edm z nich je inflace, kter\u00e1 postupn\u011b sni\u017euje kupn\u00ed s\u00edlu pen\u011bz. Druh\u00fdm, \u010dasto z\u00e1sadn\u011bj\u0161\u00edm faktorem, je riziko, \u017ee investor zme\u0161k\u00e1 dny s nejvy\u0161\u0161\u00edm r\u016fstem. Akciov\u00e9 trhy maj\u00ed tendenci generovat podstatnou \u010d\u00e1st sv\u00fdch ro\u010dn\u00edch v\u00fdnos\u016f b\u011bhem pouh\u00fdch n\u011bkolika m\u00e1lo obchodn\u00edch seanc\u00ed. Tyto dny nav\u00edc \u010dasto p\u0159ich\u00e1zej\u00ed bezprost\u0159edn\u011b po hlubok\u00fdch propadech, kdy je n\u00e1lada na trhu nejv\u00edce pesimistick\u00e1. Pokud investor z\u016fstane mimo trh b\u011bhem pouh\u00fdch deseti nejlep\u0161\u00edch dn\u016f v pr\u016fb\u011bhu n\u011bkolika desetilet\u00ed, jeho celkov\u00fd kone\u010dn\u00fd v\u00fdnos m\u016f\u017ee klesnout na polovinu v porovn\u00e1n\u00ed s n\u011bk\u00fdm, kdo z\u016fstal pln\u011b investov\u00e1n. Emoce spojen\u00e9 s kol\u00eds\u00e1n\u00edm cen vedou k n\u00e1kup\u016fm v dob\u011b euforie a prodej\u016fm v panice. Pravideln\u00e9 investov\u00e1n\u00ed pevn\u00e9 \u010d\u00e1stky tyto psychologick\u00e9 pasti eliminuje. S\u00edla r\u016fstu, kter\u00fd se s\u00e1m n\u00e1sob\u00ed Hlavn\u00edm motorem dlouhodob\u00e9ho investov\u00e1n\u00ed je proces, kdy dosavadn\u00ed zisky generuj\u00ed zisky nov\u00e9. Tento princip funguje jako sn\u011bhov\u00e1 koule. V po\u010d\u00e1te\u010dn\u00edch letech jsou rozd\u00edly nen\u00e1padn\u00e9, ale s prodlu\u017euj\u00edc\u00edm se \u010dasov\u00fdm horizontem za\u010d\u00edn\u00e1 k\u0159ivka majetku stoupat exponenci\u00e1ln\u011b. Rozhoduj\u00edc\u00edm faktorem zde nen\u00ed v\u00fd\u0161e po\u010d\u00e1te\u010dn\u00edho vkladu, n\u00fdbr\u017e d\u00e9lka obdob\u00ed, po kter\u00e9 nech\u00e1te kapit\u00e1l pracovat.  P\u0159edstavte si dva investory. Prvn\u00ed za\u010dne odkl\u00e1dat men\u0161\u00ed \u010d\u00e1stku ve dvaceti letech a po deseti letech p\u0159estane. Druh\u00fd za\u010dne investovat stejnou \u010d\u00e1stku a\u017e ve t\u0159iceti letech, ale pokra\u010duje v tom a\u017e do d\u016fchodu. Kv\u016fli n\u00e1skoku deseti let na sam\u00e9m za\u010d\u00e1tku bude m\u00edt prvn\u00ed investor v d\u016fchodu pravd\u011bpodobn\u011b v\u011bt\u0161\u00ed majetek, p\u0159esto\u017ee do syst\u00e9mu vlo\u017eil celkov\u011b m\u00e9n\u011b vlastn\u00edch pen\u011bz. Pro p\u0159esn\u00e9 modelov\u00e1n\u00ed t\u011bchto sc\u00e9n\u00e1\u0159\u016f a pochopen\u00ed vlivu reinvestov\u00e1n\u00ed dividend pom\u00e1h\u00e1 slo\u017een\u00e9 \u00faro\u010den\u00ed kalkula\u010dka, kter\u00e1 n\u00e1zorn\u011b ukazuje, jak se m\u011bn\u00ed hodnota portfolia v z\u00e1vislosti na \u010dase a pr\u016fm\u011brn\u00e9m ro\u010dn\u00edm zhodnocen\u00ed. Volatilita jako p\u0159irozen\u00e1 vlastnost trh\u016f Kr\u00e1tkodob\u00e9 v\u00fdkyvy cen akci\u00ed jsou cenou za to, \u017ee investice do firem nab\u00edzej\u00ed historicky vy\u0161\u0161\u00ed v\u00fdnosy ne\u017e st\u00e1tn\u00ed dluhopisy nebo spo\u0159ic\u00ed \u00fa\u010dty. Pro dlouhodob\u00e9ho investora by denn\u00ed nebo m\u011bs\u00ed\u010dn\u00ed pohyby graf\u016f nem\u011bly b\u00fdt d\u016fvodem ke zm\u011bn\u011b strategie. Historick\u00e1 data ukazuj\u00ed, \u017ee s rostouc\u00edm \u010dasov\u00fdm horizontem dr\u017een\u00ed \u0161iroce diverzifikovan\u00e9ho portfolia prudce kles\u00e1 pravd\u011bpodobnost, \u017ee investor skon\u010d\u00ed ve ztr\u00e1t\u011b. Zat\u00edmco v horizontu jednoho roku je investov\u00e1n\u00ed do akci\u00ed sp\u00ed\u0161e s\u00e1zkou s neotev\u0159en\u00fdm koncem, u dvacetilet\u00e9ho obdob\u00ed se riziko celkov\u00e9 ztr\u00e1ty re\u00e1ln\u00e9 hodnoty u diverzifikovan\u00fdch index\u016f bl\u00ed\u017e\u00ed nule. \u010cas funguje jako filtr, kter\u00fd \u010dist\u00ed trh od kr\u00e1tkodob\u00e9ho \u0161umu a ponech\u00e1v\u00e1 pouze dlouhodob\u00fd trend ta\u017een\u00fd ekonomick\u00fdm r\u016fstem a inovacemi. Diverzifikace a discipl\u00edna Soust\u0159ed\u011bn\u00ed se na \u010das nam\u00edsto \u010dasov\u00e1n\u00ed m\u011bn\u00ed i samotn\u00fd p\u0159\u00edstup k v\u00fdb\u011bru aktiv. Nam\u00edsto hled\u00e1n\u00ed jedn\u00e9 konkr\u00e9tn\u00ed akcie, kter\u00e1 by mohla v p\u0159\u00ed\u0161t\u00edch m\u011bs\u00edc\u00edch raketov\u011b vyr\u016fst, se pozornost p\u0159esouv\u00e1 k \u0161irok\u00fdm tr\u017en\u00edm index\u016fm. Ty v sob\u011b automaticky zahrnuj\u00ed \u00fasp\u011b\u0161n\u00e9 spole\u010dnosti a vy\u0159azuj\u00ed ty, kter\u00fdm se neda\u0159\u00ed. \u00dasp\u011bch v investov\u00e1n\u00ed je nakonec definov\u00e1n sp\u00ed\u0161e chov\u00e1n\u00edm ne\u017e genialitou. Schopnost ignorovat zpr\u00e1vy o bl\u00ed\u017e\u00edc\u00edch se kriz\u00edch a pokra\u010dovat v nastaven\u00e9m pl\u00e1nu je cenn\u011bj\u0161\u00ed ne\u017e schopnost analyzovat slo\u017eit\u00e9 finan\u010dn\u00ed v\u00fdkazy. \u010cas je v tomto procesu nejlep\u0161\u00edm spojencem, proto\u017ee d\u00e1v\u00e1 prostor k n\u00e1prav\u011b p\u0159\u00edpadn\u00fdch chyb na za\u010d\u00e1tku cesty a umo\u017e\u0148uje pln\u011b vyu\u017e\u00edt ekonomick\u00fd potenci\u00e1l glob\u00e1ln\u00edho trhu.  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