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 大家来评评这篇关于中国经济的文章 |
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作者出於好心，但思考方式有点片面，把大量的钱换成黄金的建议太危险 -- 言轻 - (672 Byte) 2004-5-18 周二, 23:22 (1573 reads) |
Theme
头衔: 海归少校
加入时间: 2004/05/03
文章: 214
海归分: 28969
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作者：Theme 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Buying Corn/Wheat/Oil is better than buying too much gold.
That being said, gold is an insurance. The more you
understand the current situation of financial derivatives,
the more you feel compelled to buy some gold as insurance.
Most traders in NYC/HK I know do have gold as a small part of their personal assets. To China as a country, whether this is wise or not is an open question.
From yesteday's WSJ:
"Hedge Funds play a bigger role than ever in terms of global capital flows, more than 7,000 of them of varying size now prowl global markets in search of investments. These private investment partnerships often copy one another's strategies and move in and out of investments and regions with alacrity."
"Everyone is doing the same thing", says Lee Thomas, a managing director of Dresdner Asset Management in Newport Beach. "There is no diversity in hedge-fund strategies. There is a huge concentration of positions and everyone is trading with Alan Greenspan's money."
"Hedge funds account for more money sloshing around, now about $860 billion in capital. But that figure understates the magnitude of their influence, since hedge funds usually use borrowed funds or leverage to amplify their investment strategies. Along with using similar strategies, many funds are using the same risk models, as are the proprietary trading desks of banks, securities furms, and even some central banks."
"The models minimize the risk", says Nassim Taleb, at New York University. "Since every one uses the same models, the probability that most funds move at the same time in the same direction is greater, creating pile-ups at the exit door, diminishing liquidity and creating difficulties in financial markets."
"Many hedge funds also sell credit derivatives, which are not fully tested. They also invest in the riskiest slices of so-called collateralized bond obligations."
"That's like buying insurance on the Titanic from someone on the Titanic", says Mr. Taleb.
作者：Theme 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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