Your SlideShare is downloading. ×
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
IR CONFERENCE - SAO PAULO - JUNE 2009
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

IR CONFERENCE - SAO PAULO - JUNE 2009

271

Published on

IMPACT OF FINANCIAL RISK IN LISTED COMPANIES …

IMPACT OF FINANCIAL RISK IN LISTED COMPANIES

PRESENTATION DONE FOR OVER 300 EXECUTIVES AT THE ANNUAL IR-INVESTOR RELATIONS CONFERENCE IN SAO PAULO, BRAZIL

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
271
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. RISCO FINANCEIRO EM COMPANHIAS ABERTAS ALEXANDRE BARBOSA BLOOMBERG JUNHO - 2009 [email_address]
  • 2. O QUE E RISCO?
    • FLUTUACOES DE PRECO
    • NORMAIS X ANORMAIS
      • SUPERIOR A 2 OU 3 DESV. PAD.
      • ESPERADO
      • SAZONALIDADE
      • EXOGENO
  • 3. FONTES DE RISCO
    • TAXA DE JUROS
    • SPREAD DE CREDITO
    • CAMBIAL
    • ACOES
    • COMMODITIES
    • FRETE MARITIMO
  • 4. RISCO - CAMBIO
  • 5. RISCO - COMMODITIES
  • 6. RISCO IMPACTA O QUE?
    • CAPTACAO DE RECURSOS
    • INVESTIMENTOS DE TESOURARIA
    • FUSOES E AQUISICOES
    • INSUMOS
    • RECEITAS DE EXPORTACAO
    • CUSTOS DE IMPORTACAO
    • ACESSO A CREDITO
    • GASTOS COM LOGISTICA
  • 7. A CRISE DE 2008! - 1
    • DE 01/AGO A 31/OUT/08 (91 DIAS)
    • JUROS
      • BONDS EM US$, BBB, 5 ANOS
    • SPREAD DE CREDITO
      • CDS - CREDIT DEFAULT SWAP, US$, BRASIL, 5 ANOS
    • CAMBIO
      • REAL / US$
  • 8. A CRISE DE 2008! - 2
    • ACOES
      • INDICE IBX
    • COMMODITIES
      • INDICE CRB
    • FRETE
      • INDICE BALTIC FREIGHT
  • 9. RISCO – CDS BRAZIL 5Y
  • 10. RISCO – INDICE ACOES IBX
  • 11. A CRISE DE 2008! - FATOS -100% -90% 851 8.280 FRETE +5.099% +168% 316bp 118bp SPREAD +339% +45% 8,4% 5,8% JUROS -83% -36% 268 416 COMM. -81% -34% 12.382 18.724 ACOES +269% +38% 2,16 1,56 CAMBIO ANUALIZ. 91DIAS 31/10/08 01/08/08
  • 12. GESTAO DO RISCO
    • MONITORAR
    • ALERTAS
    • OPERACOES DE HEDGE:
      • FORWARDS
      • OPCOES
      • FUTUROS
      • SWAPS
      • CAPS, FLOORS, COLLARS, FRAS
  • 13. HEDGE VERDADE - 1
    • 01/08/08 O BRL/US$ VALE 1,56
    • 31/12/08 COMPRO US$10 MILHOES
    • ALTERNATIVAS:
      • ESPERAR PARA VER? E GRATIS!
      • FIXAR COM OPCAO O CAMBIO A 1,70. MAS CUSTA R$228 MIL REAIS…
  • 14. CALCULADORA DE OPCAO DE MOEDA
  • 15. GRAFICO DE RESULTADO COM OPCAO
  • 16. HEDGE VERDADE – 2 COMPRA DE US$ 10MM EM 31/12/8
    • SEM HEDGE
    • COMPREI NO MERCADO
    • GASTEI R$23,2 MILHOES
    • ADICIONAL 23,2 / 15,6 =
    • + 48%
    • COM HEDGE
    • FIXEI A 1,70
    • GASTEI R$17,2 MILHOES
    • ADICIONAL 17,2 / 15,6 =
    • + 10%
  • 17. RISCO FINANCEIRO EM COMPANHIAS ABERTAS ALEXANDRE BARBOSA BLOOMBERG JUNHO - 2009 [email_address]

×