Optimalizace portfolia

Nowadays, when the financial sector influences directly or indirectly nearly every part of person's life, when inflation is taken as a normal phenomenon, when we are witnessing bankrupts of different companies, banks and other financial institutions almost on a daily basis due to the incorrect managing of the financial assets or due to the incorrect estimation of overall economic development, more and more often one should consider how to manage his funds to prevent their depreciation or even how to use them to increase its value. For these reason investment into securities has become one of the most common ways of increasing the value of one's financial funds. Particularly -- one way of investment is becoming more and more popular nowadays - financial portfolio investment. That is why this thesis not only will introduce the basic principles and rules of portfolio investment, diversification and the concept of risk (in theoretical part), but will also demonstrate how is the diversification of a portfolio done in practice. The example of portfolio optimization is done using multi-criteria decision analysis applied to a model, designed in MS EXCEL with help of VBA environment.