Istilah-istilah pada Pasar Modal

• Bond : Obligasi, investasi pada hutang.

• Capital Gain : Keuntungan dari hasil jual beli saham berupa kelebihan nilai jual dari nilai beli saham.

• Capital Loss : Kebalikan dari Capital Gain.

• Efek : Produk turunan dari asset.

• Equity : Biasa disebut dengan Saham, atau surat berharga yang mewakili andil/bagian kepemilikan perusahaan.

• Going Public : Proses penjualan saham perdana kepada masyarakat/publik yang dikenal juga dengan istilah IPO.

• Investasi : Menempatkan dana pada asset keuangan yang diharapkan akan meningkat nilainya di masa mendatang.

• Profit Taking : Aksi ambil untung, biasanya terjadi ketika trader menjual saham mereka pada saat harga meningkat.

• Prospectus : Dokumen resmi yang menjelaskan secara rinci tentang perusahaan seperti rencana penawaran saham do bursa (IPO), penerbitan saham baru, penerbitan right issue, penerbitan obligasi/hutang, dll.

• Reksadana : Diartikan sebagai wadah yang dipergunakan untuk menghimpun dana dari masyarakat pemodal untuk diinvestasikan dalam portofolio Efek oleh Manajer Investasi.

• Return : Keuntungan maupun kerugian yang diperoleh dalam investasi pada suatu periode tertentu.

Sukuk

Sukuk (Bahasa Arab: صكوك, jamak of صك Sakk, "instrumen legal, amal, cek") adalah istilah dalam bahasa Arab yang digunakan untuk obligasi yang berdasarkan prinsip syariah. Sukuk dapat pula diartikan dengan Efek Syariah berupa sertifikat atau bukti kepemilikan yang bernilai sama dan mewakili bagian penyertaan yang tidak terpisahkan atau tidak terbagi atas:

1. kepemilikan aset berwujud tertentu;
2. nilai manfaat dan jasa atas aset proyek tertentu atau aktivitas investasi tertentu; atau
3. kepemilikan atas aset proyek tertentu atau aktivitas investasi tertentu.

Contoh Sukuk Luar Negeri

• Total penerbitan sukuk global meningkat pesat, dari USD250 juta pada tahun 2001 menjadi USD110 miliar pada Juni 2008.
  
• Beberapa sovereign sukuk diterbitkan secara regular oleh Malaysia, Bahrain, Brunei, Qatar, dan UAE. Inggris, Thailand dan Hongkong SR sedang dalam proses persiapan.
  
  
  

Sistem Informasi dari Bursa Efek ke Client

Ekonomi Masa Depan

Ekonomi masa depan diperkirakan akan dikuasai oleh sistem ekonomi syariah. Mengapa? Karena sistem ekonomi syariah sangat adil. Ekonomi syariah bukanlah sistem ekonomi alternatif, melainkan itu adalah kewajiban bagi umat Islam. Pada sistem ekonomi konvensional, kita mengenal adanya grafik piramida dimana yang kaya akan tetap kaya diatas orang-orang miskin. Namun, dalam ekonomi syariah, kita akan mengenal grafik diamond dimana orang-orang kaya akan membantu orang-orang miskin. Tidak akan ada jurang pemisah antara si kaya dan si miskin.

Saham Luar Negeri

SAINT PETERSBURG (AFP) - Developed nations are dragging their feet over reforms of the International Monetary Fund, where Moscow wants to have a greater say, Russian Finance Minister Alexei Kudrin said on Saturday.
"We already see a lot of foot-dragging and tripping-up along this path," said Kudrin during Russia's premier economic forum in Saint Petersburg. "There is a need to make the IMF a true representative of the world's leading economies. It's not there right now," he said, noting that China had a lower representation quota than Switzerland or Belgium. The issue of IMF reform should therefore be raised "in earnest, in a bold way," Kudrin said, adding countries should be "represented in proportion to the strength of these economies and their role in the world economy." Along with other major developing economies such as India and Brazil, Russia wants to increase its representation in the IMF and have a greater say in decision-making currently dominated by developed economies such as the United States. The IMF is working to issue its very first bonds and Russia said late last month it was considering buying up to 10 billion dollars' worth of the bonds to help boost the institution's resources. Russia has said the bond purchase would be in line with obligations it took upon itself at the G20 summit in April where it stressed it wants more power within the financial institution. Kudrin also said that the Chinese yuan could become a global reserve currency in a decade if Beijing moves to "liberalize" the country's economy. "I don't believe that new major currency unions will emerge in the near future. I think the shortest way would be if China liberalizes its economy and wishes to ensure the convertibility of the yuan," he said. He said it would take about a decade, adding it was "the shortest path to creating a new world reserve currency." The Kremlin earlier this year criticised the dominance of the US dollar in global economy, saying there was a need for a new supranational currency to prevent a repeat of the current economic crisis.

Saham Dalam Negeri

Jakarta - Pasar saham dalam negeri dibayangi tekanan karena melemahnya Wall Street dan regional. Indeks Harga Saham Gabungan (IHSG) masih akan berfluktuasi dengan cepat di antara jalur hijau dan merah.

Alhasil, pada perdagangan saham Kamis (28/5/2009), IHSG diprediksi akan bergerak bervariasi. Meredupnya pesona saham grup Bakrie yang dinilai sudah jenuh beli membuat IHSG tidak terlalu atraktif lagi.

Investor akan fokus pada saham-saham unggulan di sektor infrastruktur dan perbankan terkait dengan sentimen pembagian dividen.

IHSG juga akan mengikuti pergerakan bursa regional. Pada Kamis pagi ini indeks Nikkei Jepang melemah 85,44 poin (0,91%) menjadi 9.353,33.

Nikkei mengikuti kejatuhan Wall Street yang terkena sentimen melonjaknya imbal hasil atau yield surat utang pemerintah AS. Hal itu memunculkan kekhawatiran melonjaknya biaya utang sekaligus bisa mengganggu pemulihan ekonomi.

Pada penutupan perdagangan Rabu waktu AS (27/5/2009), indeks Dow Jones industrial average (DJIA) ditutup merosot 173,47 poin (2,05% ke level 8.300,02. Indeks Standard & Poor's 500 juga turun 17,27 poin (1,90%) ke level 893,06 dan Nasdaq turun 19,35 poin (1,11%) ke level 1731,08.

Sedangkan IHSG pada penutupan perdagangan saham Rabu (27/5/2009) naik tajam 35,257 poin (1,9%) menjadi 1.892,843.

Berikut rekomendasi saham dari perusahaan sekuritas.

Panin Sekuritas

Sentimen positif dari data makro ekonomi US consumer confidence index berhasil mengangkat bursa regional dalam perdagangan kemarin. IHSG berhasil menguat +1,90% di 1.892,843. Investor asing juga tercatat masih membukukan net buy dalam perdagangan kemarin. Meski demikian perlu gagalnya indeks ditutup menembus level 1.900 juga mengindikasikan mulai adanya tekanan jual. Beberapa issue global menjelang akhir bulan tampaknya menjadi pertimbangan sendiri bagi investor. Hari ini kami perkirakan indeks kembali bergerak mixed dengan kisaran support-resistance 1.870-1.920.

Optima Securities

Kenaikan bursa utama asia di atas 1% memberi sentimen positif terhadap indeks sehingga menguat 35 poin ke posisi 1.892. Indeks mencoba bertahan di level 1.900 namun tidak kuat karena adanya profit taking di saham Bakrie grup sehingga menahan rally. Saham ASII menjadi kunci kenaikan disamping sektor perbankan dan infrastruktur. Jika kondisi regional mendukung maka indeks akan mencoba menembus kembali level psikologis tersebut. Arah pergerakan akan dikisaran 1.840-1.930 dengan pilihan saham; TLKM, PGAS, BDMN, BBCA, dan ISAT.

eTrading Securities

Untuk mengobservasi kebangkrutan General Motor tinggal hitungan hari, krisis mungkin telah di prediksi dan bottom level dari keterpurukan sudah bisa di presiksi. Namun apa yang akan terjadi dengan keadaan krisis saat ini, devaluasi US dollar akan meningkatkan inflasi dan membuat investasi kurang menguntungkan. Analyst Deutsche Bank di US mengatakan kebangkrutan GM akan menghapus sebagian besar dari GDP amerika dan defisit pada neraca perdagangan amerika. Kita melihat USD terus kehilangan gratitas nya, setelah pemerintah merencanakan penerbitan obligasi dengan total USD 2 triliun untuk menyuntikan ke bank dan sektor yang terdampak krisis.

Dari artikel yang ditulis oleh Enzio von Pfeil, US dollar terus kehilangan gratitasnya terlihat dari; 1) mata uang super power selalu hancur pada akhirnya, kerajaan akan mencetak uang apa bila kekurangan. Secara ekonomi ini akan meningkatkan supplai dan menurunkan nilai. 2) Akhirnya maket akan tertekan lebih dalam dan stagflasi US berkepanjangan atau yang di sebut prematural. 3) Akhirnya, US akan seperti negara kapitalisasi lainnya yang menjalani kejahatan moral, 'take the money and run' atau 'do the right thing'. Ini tidak di pungkiri apa bila ke depannya negara-negara akan bersaing untuk menaikan eksportnya dengan cara mendepresiasiakan mata uangnya. (ir/ir)

Sinlammim Methods

Sinlammim methods in general is one of the solutions to penetrate the impasse in order to solve the fundamental problems. This perceived need for a better method for perimbangan a standstill in the sciences.

This is in line with the development of the last states that felt the need to find the middle road of economic problems that have to switch to things that are associated with the spiritual. The day people want more of a better, more sharp, and capable of all aspects. One example of a simple proof method is the search Sinlammim identity of the human hand. Originally thought that the human hand or fingers is given from God, the man with the start kritisnya find out what a particular pattern, which is the standard of the creation of human fingers.

Approach that is far less able to know more detailed. The approach can be done in many ways one of which is the method sinlammim. With this approach, people can open the curtain a little concept of the human fingers are closely related to the spiritual values that are in the sacred book.

With this methods sinlammim, people try to prove that this model sinlammim ‘or not able to’ become a benchmark for each of the creation of the universe. If considered that with this approach, the description can be made about the creation of human fingers, then the next question is how the creation of man than this?

Verification valid or not sinlammim as one method of approach can be done with a variety of experiment, trial and error, observation and research conducted by Muslims as the owner of this model sinlammim. The study conducted did not restrict the Muslim and non Muslim, but if this method is able to bring the works of Muslims themselves, why do not Muslims this is the starting first find out the validity sinlammim this method.

To Sinlammim methods, also qualify as a benchmark in the System Dynamics is a pattern feedbacknya. God is the first element, then the second element is a natural, and is feedbacknya worship. When the System Dynamics requires feedback as part of the structure of the system, then Sinlammim also have feedback in the relationship in the system, such as in the Western scientists with the ability to master the language and computer technology, the presence Powersim platform is commonplace. Meanwhile, with the ability to translate the concept of Islam to Kâffah in Sinlammim, the occurrence of the root digit formula is remarkable, because the implicit value of simple, infinity, and absolute value.

Kaffah Economics

In addition to a letter of al-Baqarah [2]: verse 208, says Kâffah also in a letter Saba [34] paragraph 28 which states that the 2 "of a good news and as a warner. System Thinking in if there is a positive causal loop, so there is a bearer of Islam Kâffah tidbit. And as a warner, a negative causal loop. System so that I can disandingkan with Kâffah Islam. So if the west is System Thinking, the approach to Islam is Kâffah Economics.

Economic exposure Kâffah can take the analogy of System Thinking. Economic Kâffah function here, to be a choice when in fact the concept of capitalist economy is not able to overcome the complex problems of late. Some western economists began to improve the system with the capitalist economic system thinking approach. In this case, the Economic Kâffah is the rising star of a new paradigm is the rapid growth of Islamic Economics. Attendance Economic Kâffah become a stand-alone entity, has a differentiation, and the fundamental kuar from al-Quran (QS. Al-Baqarah [2]: 208), but the bridge development in the Economic System with Kâffah dianalogikan Thinking. Western civilization that has a structured reference, the basic methodology, and the most important pieces of each merasuki already thought the intellectual world. So that is felt to be more simple and logical when the economy appears Kâffah System Thinking with concepts.

Specificity of the Economic Kâffah is penjabaran method of Sinlammim. This is in accordance with the contents of al-Quran that reads’ silmi kâffah ‘, with the explanation that the word’ silmi ‘is a letter from derivasi sin lam mim.
Method Sinlammim in Economics Kâffah, is also a method for developing a new epistemology Islamic economic system as a whole. To facilitate the method does Sinlammim be the method System Dynamics has been the first exist since last ten years.