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CIO的见解
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CIO的见解
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CIO的见解由 yabo亚博网站登录首页的首席信息官迈克尔·罗森说
Michael has more than 35 years experience as an institutional portfolio manager, 投资策略师, 交易员和学者.
RSS: CIO的博客 | 所有的媒体
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2015年1月2日
航运
首先,祝大家新年快乐!I walked into the office this morning to a crystal clear view of the Pacific. What a beautiful start to the year!In the distance, I could see a giant container ship which, ...
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2015年1月1日
2014年第四季度-分钟
Beginning in the late 8th century, an intrepid b和 of explorers set out from their harsh, 冰冻的土地, 首先掠夺, then to conquer most of northern Europe 和 beyond. To the east they settled the vast European steppes of Pol和 和 Ukraine...
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2014年12月23日
国内生产总值
正常情况下, I wouldn't comment on any single economic release, but today's 国内生产总值 revision adds to the mounting evidence of a strengthening US economy. 国内生产总值 growth in the third quarter was revised up to ...
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2014年12月22日
太多的话
在货币经济学家中, there is a raging debate over the merits of the Fed's burgeoning balance sheet. Back in November 2010, an open letter to Fed chairman Ben Bernanke was published in the Wall ...
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2014年12月16日
能源恐慌
Take a look at the price of a barrel of good ol' West Texas Intermediate (see graph below). Two things jump out at me: big declines occur in recessions (which makes sense as dem和 falls), 和 ...
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2014年12月15日
欧洲经济衰退,美国经济衰退
欧洲的失业率是11%.5%. Europe is currently growing at less than 1%. A rule of thumb is that it takes excess growth of 2-2.5% to drop the unemployment rate by 1%. 我想你看到了 ...
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12月9日
通货紧缩? 不是我们
戏剧性的(40%)!) drop in oil prices has caused some hysteria in the media about the rising risks of deflation. After all, lower energy prices is deflationary. 嗯,这并不完全正确.通货膨胀 ...
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2014年12月5日
劳动力市场
Oh, this was a strong report this morning, on every level:321,000 net new jobs in November.10 consecutive months of +200,000 payroll gains (228,000 on average over the past year).劳动力扩大 ...
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2014年12月3日
石油政治-II(影响)
Declining oil prices provide a net benefit to the global economy. A rule of thumb is every $10/barrel transfers around $330 billion, about 0.4% of world 国内生产总值, between oil producers to oil consumers. So ...
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2014年12月2日
石油政治
在过去的几年里, oil has held steady at around $100/barrel, as supply 和 dem和 were largely held in check. Supply was disrupted in Libya 和 South Sudan, Venezuela saw production tumble due ...
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2014年11月25日
他们的想法...还没到
Successful investing is frequently about balancing valuation with growth prospects. We would all love to invest in cheap assets with strong prospective growth, 但大多数时候, 我们被迫 ...
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2014年11月24日
工作
There's no doubt that the headline unemployment rate (5.8%) does not tell the full picture of the job market. Specifically, there have been three areas of concern not reflected in the (low-ish) ...
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2014年11月20日
压力
Yes, we all know the European economy is not growing: stagnant, sclerotic, etc. 但这一事实并不是危机. It's a concern, a problem, a challenge, but not a crisis.它很难得到 ...
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2014.11.18
传播
An interesting graphic from Ken Leech of Western Asset showing that spreads in Bondl和 this year are pretty much unchanged from the start of the year. This, despite the rally in US equities 和 solid ...
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11月17日
钱的问题
当 the Fed embarked on Quantitative Easing (QE), many prominent economists warned this would lead to hyperinflation (or, 至少, 想要的通货膨胀激增). 没有发生. 随着量化宽松的结束,许多人 ...
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11月14日
精选趣事
Some fun facts about this year (courtesy Michael Hartnett of Merrill Lynch):US equities (+14%) are ahead of European equities (-6%) by the widest margin since 1976.US large cap is beating US small cap ...
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2014年11月13日
“特殊”?
The following item caught my eye on Bloomberg:Los Angeles City Employees' Retirement System is scheduled to discuss a staff report requested at a prior meeting on the pension's specialized private ...
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2014年11月11日
物流
Not enough attention is being paid to the work slowdown/stoppage going on at West Coast ports.The last time there was a disruption was in 2002, 和 it ended 10 days later only after a presidential ...
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2014年11月11日
强者如何陨落
Between March 2000 和 October 2002, the NASDAQ Index fell 75%, from over 5,000 to under 1,300. 当然, valuations were beyond silly at the peak, 我承认, 在崩溃之后, 我以为我的 ...
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2014年11月11日
光棍节快乐!
11 November is celebrated in the US as Veteran's Day 和 throughout Europe as Armistice Day, marking the armistice ending the First World War in 1918. Government agencies 和 banks are closed for the ...
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2014年11月4日
美国制造业
哇. The good people at the Institute for Supply Management survey American manufacturers every month 和 ask, “生意怎么样?" They then create a diffusion index based on those responses: a scale ...
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2014年11月3日
世界真大
向沃尔特·迪斯尼道歉, 全球经济正在变得, 好吧, 更多的全球, 和, 直观地, companies' sensitivities to global macro factors increase in proportion to their global revenues.当 ...
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2014年10月31日
量化宽松政策的影响?
QE3 (the policy, not a new Cunard ship) was launched 2 years ago 和 ended this week. The exp和ed it balance sheet by $1.6万亿美元,占62%.Economists (和 other, smarter people) will debate the ...
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2014年10月29日
双杠杆?
石油 prices are down about $30 from their highs; great news for consumers 和 the big oil importers (China, 韩国, 印度). Not so good news for the big producers (Saudi, Russia, Venezuela).石油 ...