- 碧桂園 (link)
- 中國房地產最美好的時光已是過去式
- 內房硬著陸 (link)
- 隨著近年大陸越發嚴格控制各面向的政府措施, 對未來感到悲觀
- Bond strategy for inflation times (link)
- invest: TIPS, commodity, collectibles(art/wine/stamp)
- avoid: equity(including energy sector), bond, REITS
- Factor investing
- good: cross-sectional stock momentum, quality and investment factors, time-series momentum(trend)
- bad: profitability (-1 percent), value (-1 percent), low volatility (-3 percent), and size (-4 percent)
- Alternatives fixed income strategies
- Inflation (link)
- Governments must start spending wisely.
- Expanded social programs and transfers must be funded from stable long-run tax revenues.
- Once fiscal space has run out and given way to inflation, the government’s ability to stop the next crisis may evaporate
- If we want growth – to reduce poverty; to pay for health, environmental protections, and transfers; or for its own sake – it will have to come from unleashing supply. Tariffs, industrial protections, labor-market distortions, restrictions on skilled immigration, and other supply-constraining policies have direct costs that cannot be offset by printing more money.
- Our governments have been pursuing a dangerously myopic strategy of shutting down US and European fossil-fuel development before alternatives are available at scale, strangling nuclear energy, and subsidizing grossly inefficient (and often carbon-intensive) projects such as California’s high-speed train to nowhere.
- 公債投資 (link)
- TLT一年高點(2021/12/3)至2022/4/20跌幅為21%(含息)
- IEF一年高點(2021/8/3)至2022/4/20跌幅為12%(含息)
- SHY一年高點(2021/8/2)至2022/4/20跌幅為4.6%(含息)
- VTIP一年高點(2022/3/11)至2022/4/20跌幅為1.9%(含息)
- TIP一年高點(2021/11/9)至2022/4/20跌幅為5.4%(含息)
- 投資看法分享 (link)
- 停滯性通膨
- Twitter收購 (link)
- 穩定幣與美元霸權 (link)
看過去5-8年ROE是否穩定 配得出現金 (低盈再率+高配息) 產業地位不變 (產品不變+高市占/會變+多角化) 公司要夠大 (常利大於5億元，上市櫃滿2年) 老闆要有誠信 (董監持股至少10%) 僅供參考
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