对冲基金大佬Einhorn:价值投资可能再也回不来了
1. 目前这个行情,大多数价值投资者已经破产了(out of business),所以市场结构发生了极其严重的改变。(意思是市场上炒客、投机盛行。)
2. 就算没破产,”我们(Enhorn认为自己是价投)也剩得不多了“,很多人要么转去做了量化,要么就粗暴直接做被动指数投资。以价投的方法训练出来的基金经理在市场上不多了。
3.因为市场上的价投少了,所以真正关心公司基本面的投资者就少了,以至于非常多的公司被错误定价。交易者甚至完全不知道自己的交易标的,到底大概值多少
以下是英文报道原文:
Hedge fund manager David Einhorn said he doesn’t know if value investing will ever be in vogue again.
“I don’t know that it ever comes back,” the Green Capital founder said Tuesday in an interview with Bloomberg Television on the sidelines of the Robin Hood Investors Conference in New York. Einhorn, 53, said most value investors are being put out of business, citing “serious changes to the market structure.”
“There’s just very few of us left,” he said, adding that most market participants these days are not trained or experienced in value investing, or have shifted to passive or quantitative investing.
Fewer players means there’s no one to notice what’s happening to these companies and “nobody knows what anything is worth,” Einhorn said. “So there’s an enormous number of companies that are dramatically mis-valued in ways that we haven’t seen before.”
1. 目前这个行情,大多数价值投资者已经破产了(out of business),所以市场结构发生了极其严重的改变。(意思是市场上炒客、投机盛行。)
2. 就算没破产,”我们(Enhorn认为自己是价投)也剩得不多了“,很多人要么转去做了量化,要么就粗暴直接做被动指数投资。以价投的方法训练出来的基金经理在市场上不多了。
3.因为市场上的价投少了,所以真正关心公司基本面的投资者就少了,以至于非常多的公司被错误定价。交易者甚至完全不知道自己的交易标的,到底大概值多少
以下是英文报道原文:
Hedge fund manager David Einhorn said he doesn’t know if value investing will ever be in vogue again.
“I don’t know that it ever comes back,” the Green Capital founder said Tuesday in an interview with Bloomberg Television on the sidelines of the Robin Hood Investors Conference in New York. Einhorn, 53, said most value investors are being put out of business, citing “serious changes to the market structure.”
“There’s just very few of us left,” he said, adding that most market participants these days are not trained or experienced in value investing, or have shifted to passive or quantitative investing.
Fewer players means there’s no one to notice what’s happening to these companies and “nobody knows what anything is worth,” Einhorn said. “So there’s an enormous number of companies that are dramatically mis-valued in ways that we haven’t seen before.”
【活动资讯】Tokyo 7th シスターズ中 KARAKURI新曲「Re:SONANCE」发布并公布最新演唱会细节!
来自「Tokyo 7th シスターズ THE SKY’S THE LIMIT」中由空栗ヒトハ / フタバ(CV:秋奈)的双胞胎组合KARAKURI最新曲「Re:SONANCE」将在游戏内公开!同时这首歌曲也是首张专辑『Re:SONANCE』的主打曲,同时也是于10月23日(星期日)举行的首次个人演唱会的标题!作曲作词由「Kyota.」桑负责创作!以下为大家带来详细信息。
#LisAni# #日本歌手# #动漫音乐# #日本音乐# #Tokyo7thシスターズ#
--------------------------------------
●歌曲情报
KARAKURI 「Re:SONANCE」
空栗ヒトハ / フタバ (CV:秋奈)
作词・作曲:Kyota.
●活动情报
首场个人演唱会-「KARAKURI 1st Live Re:SONANCE」
10月23日(星期日)举行!
(C) 2014 DONUTS Co. Ltd. All Rights Reserved.
来自「Tokyo 7th シスターズ THE SKY’S THE LIMIT」中由空栗ヒトハ / フタバ(CV:秋奈)的双胞胎组合KARAKURI最新曲「Re:SONANCE」将在游戏内公开!同时这首歌曲也是首张专辑『Re:SONANCE』的主打曲,同时也是于10月23日(星期日)举行的首次个人演唱会的标题!作曲作词由「Kyota.」桑负责创作!以下为大家带来详细信息。
#LisAni# #日本歌手# #动漫音乐# #日本音乐# #Tokyo7thシスターズ#
--------------------------------------
●歌曲情报
KARAKURI 「Re:SONANCE」
空栗ヒトハ / フタバ (CV:秋奈)
作词・作曲:Kyota.
●活动情报
首场个人演唱会-「KARAKURI 1st Live Re:SONANCE」
10月23日(星期日)举行!
(C) 2014 DONUTS Co. Ltd. All Rights Reserved.
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221004 官推更新
Beyond LIVE - KEY CONCERT - G.O.A.T. (Greatest Of All Time) IN THE KEYLAND
10/23 SUN 4PM (KST)
Sales
KOREA : LIVE ONLY ₩49,000 / LIVE + Re-Streaming ₩55,000
JAPAN : LIVE ONLY 4,900円 / LIVE + Re-Streaming 5,500円
GLOBAL : LIVE ONLY 45 USD / LIVE + Re-Streaming 50 USD
10cm动物体金Doni特别贩售:https://t.cn/A6SraMTm
Gasoline专辑特典补邮:https://t.cn/A6owqg9I
SOLO二辑《Gasoline》三批代GO❤️: https://t.cn/A6SZ2Esu
回归抽抽乐-补邮改地址:https://t.cn/A6Sd75K7
缺韩翻 缺时间轴:https://t.cn/A6cjDhzC
✨Bubble翻译✨:https://t.cn/A6buoj8N
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