{"id":109639,"date":"2026-06-06T22:38:10","date_gmt":"2026-06-06T22:38:10","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/109639\/"},"modified":"2026-06-06T22:38:10","modified_gmt":"2026-06-06T22:38:10","slug":"zpochybnuji-sporici-ucty-i-statni-dluhopisy-akcie-ktere-padesat-let-v-kuse-navysuji-dividendy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/109639\/","title":{"rendered":"Zpochyb\u0148uj\u00ed spo\u0159ic\u00ed \u00fa\u010dty i st\u00e1tn\u00ed dluhopisy. Akcie, kter\u00e9 pades\u00e1t let v kuse navy\u0161uj\u00ed dividendy"},"content":{"rendered":"<p>Vra\u0165me se na okam\u017eik v \u010dase do t\u0159in\u00e1ct\u00e9ho srpna roku 1979. Soudci kapitalismu tehdy otv\u00edrali levn\u00e1 perliv\u00e1 v\u00edna nad posledn\u00edm vyd\u00e1n\u00edm americk\u00e9ho \u010dasopisu Businessweek, kter\u00fd nesl palcov\u00fd titulek The Death of Equities. Auto\u0159i p\u0159esv\u011bd\u010div\u011b popsali, \u017ee <a href=\"https:\/\/www.e15.cz\/byznys\/spacex-miri-na-burzu-s-rekordni-nabidkou-od-investoru-chce-ziskat-75-miliard-dolaru-1433322\" rel=\"nofollow noopener\" target=\"_blank\">akcie<\/a>\u00a0skute\u010dn\u011b, ale a\u017e klausovsky skute\u010dn\u011b do budoucna ned\u00e1vaj\u00ed \u017e\u00e1dn\u00fd smysl a \u017ee nov\u00fd sv\u011bt bude pat\u0159it u\u017e jen fyzick\u00fdm aktiv\u016fm jako zlatu, nemovitostem \u010di um\u011bn\u00ed.\u00a0<\/p>\n<p>Akciov\u00fd trh podle tehdej\u0161\u00edho \u010dl\u00e1nku definitivn\u011b p\u0159i\u0161el o svou schopnost ochr\u00e1nit lidem\u00a0<a href=\"https:\/\/www.e15.cz\/byznys\/burzy-a-trhy\/zazrak-na-pilulce-ukazuje-bidu-trhu-start-ceny-jsou-iluzorni-a-neprodelat-na-tom-je-pouhe-sneni-1433284\" rel=\"nofollow noopener\" target=\"_blank\">bohatstv\u00ed<\/a>.\u00a0Text tehdej\u0161\u00edho mainstreamov\u00e9ho \u010dten\u00e1\u0159e bloud\u00edc\u00edho u\u017e tak\u0159ka dek\u00e1du temn\u00fdmi blaty stagflace vlastn\u011b jen utvrdil v tom, co si myslel u\u017e p\u00e1r let, jen si to s\u00e1m p\u0159ed sebou zdr\u00e1hal p\u0159iznat. Ale byli tu je\u0161t\u011b \u010dten\u00e1\u0159i mimo mainstreamov\u00fd my\u0161lenkov\u00fd proud, kte\u0159\u00ed v tu chv\u00edli ud\u011blali t\u0159eba to, \u017ee si str\u00e1nkou z \u010dasopisu zap\u00e1lili marlborku a k tomu p\u0159ikoupili <a href=\"https:\/\/www.e15.cz\/byznys\/burzy-a-trhy\/vylucnost-ameriky-wall-street-ji-nikdy-neztratila-vitezi-se-stanou-soucasni-porazeni-1433136\" rel=\"nofollow noopener\" target=\"_blank\">akcie<\/a>\u00a0jej\u00edho v\u00fdrobce, dnes zn\u00e1m\u00e9ho pod jm\u00e9nem Altria Group.\u00a0<\/p>\n<p>Akcie se osv\u011bd\u010dila<\/p>\n<p>Jak se m\u016f\u017eete p\u0159esv\u011bd\u010dit t\u0159eba na str\u00e1nk\u00e1ch newyorsk\u00e9 nebo t\u0159eba pra\u017esk\u00e9 burzy, akcie st\u00e1le je\u0161t\u011b existuj\u00ed. Sice firmy mo\u017en\u00e1 b\u011bhem dek\u00e1d za\u010daly chodit na burzu a\u017e v pozd\u011bj\u0161\u00ed f\u00e1zi sv\u00e9ho v\u00fdvoje, \u010d\u00edm\u017e p\u0159edev\u0161\u00edm drobn\u00e9 investory ochudily o \u017eiveln\u00fd r\u016fst akci\u00ed v ran\u00fdch etap\u00e1ch sv\u00e9ho podnik\u00e1n\u00ed, ale zhruba dev\u00edtiprocentn\u00ed pr\u016fm\u011brn\u00fd ro\u010dn\u00ed v\u00fdnos S&amp;P 500 za posledn\u00ed \u201edlouh\u00e9 obdob\u00ed\u201c d\u011bl\u00e1 z akci\u00ed aktivum, kter\u00e9 dok\u00e1\u017ee dlouhodob\u011b podr\u017eet rodinn\u00e9 \u00faspory.\u00a0<\/p>\n<p>Ale vra\u0165me se k na\u0161emu excentrick\u00e9mu \u010dten\u00e1\u0159i a milovn\u00edkovi tab\u00e1ku v jedn\u00e9 osob\u011b. N\u00e1kup tab\u00e1kov\u00fdch pod\u00edl\u016f v den vyd\u00e1n\u00ed Smrti akci\u00ed byl toti\u017e jedn\u00edm z nejgeni\u00e1ln\u011bj\u0161\u00edch krok\u016f, kter\u00e9 jste kdy mohli v investi\u010dn\u00edm sv\u011bt\u011b ud\u011blat. Akcie dodnes toti\u017e vynesla zhruba \u0161est set tis\u00edc procent, z tehdej\u0161\u00ed tis\u00edcovky dolar\u016f by tak n\u00e1\u0161 ku\u0159\u00e1k m\u011bl nyn\u00ed kolem \u0161esti milion\u016f dolar\u016f. Zcela z\u00e1sadn\u00ed ale byla jedna v\u011bc. St\u011b\u017eejn\u00ed \u010d\u00e1st v\u00fdnosu z akcie \u0161la toti\u017e na vrub dividend\u00e1m. Altria toti\u017e je takzvan\u00fdm dividendov\u00fdm kr\u00e1lem. Je to mo\u017en\u00e1 k nev\u00ed\u0159e, ale pat\u0159\u00ed k akci\u00edm, kter\u00e9 pades\u00e1t let v kuse navy\u0161uj\u00ed dividendy.\u00a0<\/p>\n<p>P\u0159edstavte si, \u017ee se pades\u00e1t let nemus\u00edte strachovat o to, jestli \u010cesk\u00e1 n\u00e1rodn\u00ed banka n\u00e1hodou nesn\u00ed\u017e\u00ed \u00farokov\u00e9 sazby, a nespadnou tak \u00faroky na spo\u0159ic\u00edch \u00fa\u010dtech. Proto\u017ee ty jsou ve sv\u011bt\u011b konzervativn\u00edho investora i v dob\u011b masov\u00e9ho lana\u0159en\u00ed investi\u010dn\u00edch fond\u016f relevantn\u00edm hr\u00e1\u010dem na finan\u010dn\u00edm h\u0159i\u0161ti.\u00a0<\/p>\n<p>Pojistkou proti takov\u00e9mu stresu mohou b\u00fdt pr\u00e1v\u011b dividendov\u00ed kr\u00e1lov\u00e9, kte\u0159\u00ed aktu\u00e1ln\u011b vyn\u00e1\u0161ej\u00ed a\u017e p\u0159es \u0161est procent ro\u010dn\u011b, a pokud zvol\u00edte dobr\u00fd n\u00e1kupn\u00ed timing, m\u016f\u017ee se dlouhodob\u00fd dividendov\u00fd v\u00fdnos je\u0161t\u011b zv\u00fd\u0161it. Pochopiteln\u011b plat\u00ed, \u017ee takto vysok\u00fd dividendov\u00fd v\u00fdnos nelze ani n\u00e1hodou ztoto\u017e\u0148ovat s dlouhodobou jistotou. Pro soupisku toti\u017e plat\u00ed, \u017ee ka\u017ed\u00e1 z firem m\u00e1 sv\u00e9 byznysov\u00e9 stra\u0161\u00e1ky. Poj\u010fme si p\u0159edstavit p\u011bt dividendov\u00fdch kr\u00e1l\u016f z Wall Street, kte\u0159\u00ed aktu\u00e1ln\u011b nesou nejvy\u0161\u0161\u00ed dividendov\u00fd v\u00fdnos.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Vra\u0165me se na okam\u017eik v \u010dase do t\u0159in\u00e1ct\u00e9ho srpna roku 1979. Soudci kapitalismu tehdy otv\u00edrali levn\u00e1 perliv\u00e1 v\u00edna&hellip;\n","protected":false},"author":2,"featured_media":109640,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[412,31718,67,31719,68,2138,2046,148,113,6459],"class_list":["post-109639","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-akcie","tag-altria-group","tag-business","tag-businessweek","tag-byznys","tag-dluhopis","tag-dolar","tag-tabak","tag-usa","tag-wall-street"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116705565250738380","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/109639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=109639"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/109639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/109640"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=109639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=109639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=109639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}