O**n
发帖数: 649 | 1 【 以下文字转载自 Military 讨论区 】
发信人: Odin (风铃), 信区: Military
标 题: 建议外管局请江平校友主管国家外汇储备
发信站: BBS 未名空间站 (Sun Dec 27 13:57:26 2009, 美东)
江平， 科大娇子， 乃华尔街上的华裔博弈高手
在华尔街2007年收入超过5000万美元的“百位顶尖交易者”中，第一次出现了一位华裔
的名字，他就是年仅43岁的美国赛克资本管理公司的基金经理江平。北美最大的中文报
纸《世界日报》近日刊登长文介绍了他的经历和业绩，称其完全靠业绩挣钱，而其他入
围的人大都是大型基金的老板，收入中有资本分红。
江平1993年毕业于普林斯顿大学，获得化学博士学位，接着进入史丹福大学攻读金
融学博士，随后进入李曼兄弟公司拉美外汇交易部工作。2005年3月，江平正式加盟赛
克公司，投资七国集团的外汇、指数、拉美外汇、债券和欧洲信贷。尽管一开始工作并
不顺利，亏了七八百万美元，但在总裁科亨的鼓励下，江平当年就成为赛克最出色的基
金经理之一。
2006年，江平把业务扩展到中国和亚洲股票以及全球 | j****c
发帖数: 19908 | | I***e
发帖数: 1136 | 3 Ping Jiang isn't up for this task though. He's track record is highly risky.
He's a good trader, yet his risk is way too much for a sovereign fund.
In fact, it is extremely hard to make a decent return with a 2T portfolio...
No investment is meaningful enough to make a difference when you are at
that level. For an extra 1% of performance needs 20B of additional money to
be made. It's nearly impossible to over perform the market when the market
is essentially yourself... To make things worse, the | b********1
发帖数: 114 | 4 2T is huge, however the money the needed to be invested in market would be
far less than 2T as 2T $ is not government money, it is just money central
bank bought using newly printed RMB. Fixed income market is huge, even 2T is
relatively small size, certainly not the market.
risky.
..
to
can
markets.
【在 I***e 的大作中提到】
: Ping Jiang isn't up for this task though. He's track record is highly risky.
: He's a good trader, yet his risk is way too much for a sovereign fund.
: In fact, it is extremely hard to make a decent return with a 2T portfolio...
: No investment is meaningful enough to make a difference when you are at
: that level. For an extra 1% of performance needs 20B of additional money to
: be made. It's nearly impossible to over perform the market when the market
: is essentially yourself... To make things worse, the
| I***e
发帖数: 1136 | 5 Wow, 2T is small size?!
is
【在 b********1 的大作中提到】
: 2T is huge, however the money the needed to be invested in market would be
: far less than 2T as 2T $ is not government money, it is just money central
: bank bought using newly printed RMB. Fixed income market is huge, even 2T is
: relatively small size, certainly not the market.
:
: risky.
: ..
: to
: can
: markets.
| b********1
发帖数: 114 | 6 you have no idea how big the fixed income market is, do you?
from wikipedia.
The bond market (also known as the debt, credit, or fixed income market) is
a financial market where participants buy and sell debt securities, usually
in the form of bonds. As of 2008, the size of the international bond market
is an estimated $67.0 trillion [1], of which the size of the outstanding U.S
. bond market debt was $33.5 trillion.
Nearly all of the $923 billion average daily trading volume (as of early 2007)
【在 I***e 的大作中提到】
: Wow, 2T is small size?!
:
: is
| I***e
发帖数: 1136 | 7 That's not to say 2T is small size. You know that the US equity market is
about 14T, and global equity market is about 50T as we speak. However, even
with an AUM of 100B it is very hard for an equity fund to outperform the
benchmark. In fact, most of them underperform.
is
usually
market
.S
2007) in the U.S. bond market takes place between broker-dealers and large
institutions in a decentralized, over-the-counter (OTC) market. However, a
small number of bonds, primarily corporate, are listed on
【在 b********1 的大作中提到】
: you have no idea how big the fixed income market is, do you?
: from wikipedia.
: The bond market (also known as the debt, credit, or fixed income market) is
: a financial market where participants buy and sell debt securities, usually
: in the form of bonds. As of 2008, the size of the international bond market
: is an estimated $67.0 trillion [1], of which the size of the outstanding U.S
: . bond market debt was $33.5 trillion.
: Nearly all of the $923 billion average daily trading volume (as of early 2007)
| b********1
发帖数: 114 | 8 equity is different. even total equity market size is not small, each
individual stock market cap is small compared to whole market.
even
【在 I***e 的大作中提到】
: That's not to say 2T is small size. You know that the US equity market is
: about 14T, and global equity market is about 50T as we speak. However, even
: with an AUM of 100B it is very hard for an equity fund to outperform the
: benchmark. In fact, most of them underperform.
:
: is
: usually
: market
: .S
: 2007) in the U.S. bond market takes place between broker-dealers and large
|
|
