MarketSaga

Saga of Financial Markets

Fri12152017

Last updateSat, 29 Jul 2017 12am

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End of Alpha?

Alpha is a risk-adjusted measure of the so-called active return on an investment.  With the fundamental change to the availability of information and in the capital to act on it could simply earmark the end of ‘alpha’, beating the market consistently through active management. Add a comment

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How Gross beats the average bond fund?

PIMCO Total Return outperformed its benchmark over the decade through July 2012 with an average annual pre-tax return of 6.6% from inception through July. That beat both the Barclays Capital US Aggregate Bond Index (Agg) of pre-tax 5.7% gain and the pre-tax 5.3% average of the funds in fund-tracker Lipper Inc.’s intermediate-term investment grade category, according to PIMCO. Add a comment

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累计股票期权- Accumulator (I kill you later)

数据显示,2008年香港股灾后,投资者因累股期权亏损高达约6000亿港元。这产品的输家包括香港蓝筹上市公司中信泰富,因炒输澳洲元累计期权而录得巨额亏损。虽然有人认为累计期权合约对投资者不公平,但是香港证监会无意加强对累计股票期权的销售限制。 Add a comment

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丁蟹效应

什么是“丁蟹效应”?通俗来说,就是每当郑少秋演出的电视剧或节目播放时,股票市场都会暴跌。你不信?本月21日,郑少秋的新剧《心战》将在香港无线推出。上周末电视热播郑少秋玩千面人的预告片,周一(5月7日)港股收市时,恒生指数狂泄549点,创年内单日最大跌幅。 Add a comment

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The Bernanke Wave

Ben Bernanke is probably the most influential person in the world in the stock market.  His words and acts may have ‘profound’ impact on the market so much so that a emerging new term called ‘the Bernanke Wave’ is coined to describe the wave pattern observed last four year since the first announcement of Quantitative Easing I on 2008-11-25, Quantitative Easing II on 2010-08-27 and Operation Twist on 2011-09-21.  No wonder, they said ‘don’t fight against the Fed’. Add a comment

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