投資哲學


萬法歸一 ,股海唯心至上,到頭來無一法可得,亦無甚麽可失

投機、投資、或中短線交易,只要方法得當,則殊途同歸,並無對錯之分

投資的最高境界並非贏大錢,而是克服心魔


星期三, 9月 29, 2010

Gordon Gekko

以混蛋而論,兩套"Wall Street"電影內的"Gordon Gekko"可算是"混蛋得來又帶幾分幽默同可愛"。1987年版的名句"Greed is Good"雖然很像+分市儈,但在金融市場內有誰不是求財?

筆者會加多幾句: "Greed is Good, greed creates inflation, greed leads to growth, greed creates asset bubbles, greed makes fear finally, greed drives collapse, greed is the close brother of panic, greed is part of the endless cycles"

所以問題並非"Is Greed Good?",而是"Do you know when to be greedy, when to keep away from the fire"

2010年版內的Gordon Gekko有幾句很過癮的名句,尤其是在一班年青人面前演講的內容,Gordon一開波便說: "You’re all pretty much fu** up. You don’t know it yet. But, you are the NINJA generation. No Income, No Job, No Assets. You got a lot to live for too.",更過癮的是台下班年青人聽到俾人"XYZ#@"全部好興奮,大拍手掌。

Gordon一直數美國人如何大駛、政府和金融界如何製造bubbles,在演講的末段道出如何解救之法,便是+分簡單的三個字 ------ "BUY MY BOOK"


1987年版"Wall Street"電影Gordon在"Teldar Paper"股東大會內的"GREED IS GOOD"演講內容:
Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures, the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge, has marked the upward surge of mankind and greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the U.S.A.


2010年版"Wall Street"電影Gordon在"Fordham University Business School"的演講內容:
"You’re all pretty much fu** up. You don’t know it yet. But, you are the NINJA generation. No Income, No Job, No Assets. You got a lot to live for too. Someone reminded me the other evening that I once said greed is good. Now it seems its legal. But folks, its greed that makes my bartender buy three houses he can’t afford with no money down. And it's greed that makes your parents refinance their two hundred thousand dollar house for two fifty. Then they take that extra fifty and go down to the mall. They buy a plasma TV, cell phones, computers, a SUV, hey why not a second home while we are it, cause gee whiz we all know the prices of houses in America always go up, right? And its greed that makes the government of this country cut interest rates down to one percent after 9/11 so we can all go shopping again. And they got all these fancy names for trillions of dollars of credits, CMOs, CDOs, SIVs, ABS . You know I honestly think that there’s maybe only seventy five people in the world who know what they are. But I’ll tell you what they are - WMDs, weapons of mass destruction! That’s what they are.

When I was away, it seems greed got greedier with a little bit of envy mixed in. Hedge funders were walking home with fifty, hundred million bucks a year. So Mister Banker, he looks around and says my life looks pretty boring. So he starts leveraging his interests up to forty, fifty to one, with your money, not his, yours, because he could. You’re supposed to be borrowing not them. And the beauty of the deal, no one is responsible. Because everyone is drinking the same Kool-aid. Last year ladies and gentlemen, forty percent of all American corporate profits came from financial services. Not production, not anything remotely to do with the needs of the American public. The truth is we are all part of it now. Banks, consumers, we’re moving the money around in circles. We take a buck, we shoot it full of steroids. We call it leverage. I call it steroid banking.

Now I’ve been considered a pretty smart guy when it comes to finance and maybe I was in prison too long. But sometimes it’s the only place to stay sane and look out through those bars and say “Hey, is everybody out there nuts?”

Its clear as a bell to those who pay attention, the mother of all evil is speculation, leveraged debt. The bottom line is borrowing to the hilt. And I hate to tell you this, it’s a bankrupt business model. It won’t work. Its systemic, malignant, and its global, like cancer. It’s a disease and we got to fight back. How are we going to do that? How are we going to leverage that disease back in our favor? Well I’ll tell you. Three words, “Buy my book!” Prices and profits work."

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