跨業投資: 溫泉旅館與化工廠? 到底我們買了甚麼?

這是一個很有意思的問題, 到底在選擇股票標的時, 是要選擇專注本業的公司, 或者是業外投資多元可以分散現金流量風險的公司?

這個問題的想法來自兩個資訊來源: 飛利浦法說會, 以及國喬和台苯的比較

Too old to get employed, too young to retired?

This article aims to share two articles, having a very different views on aging.

2012.Mar. 22: Too Old to get hired, too young to retired: by Michael Kinsley

2012 Sep. 7: BMW never-too-old assembly insures against lost engineers by Christian Wuestner

In crisis time, labor markets are always under the spot light. Of course, lots of talks are on financial system. Yet, to my belief, human, as we see in labor markets, is the only core of economy.

A brief look of London (2)

Bloomberg Report: Occupy London

I recall my conversation with a Englishman in the bar called "The Old Bell Tavern" Before going into the details, I would really recommend this Bar for friends going to London. A interesting part is that they have a  tradition to ring the bell before the bar is going to close.( I think they ring it twice: 30 mins ahead and 1 hour ahead)

European Debt Crisis: Spanish Theater 歐債危機西班牙劇場

I have two reasons to write this article: The first is that, regarding to my love to Catalunya, I feel I shall write something to clarify how situation is over there. The second is that I am so fed up with the questions constantly asked by my Taiwanese friends about European debt crisis. Their arguments are built up by local news, which  only delivered partial facts leading to wrong conclusion.

So, I decide to write this one. Same as other articles: This article is written both in English and Mandarin.

中國黃皮書(China Beige Book)：對經濟活動的草根性觀察

圖片來源: http://chinabeigebook.com/index.php

我們怎麼估計一個國家的經濟狀況？

最基本的，我們會看一個國家的經濟成長率。不過這年頭大家越來越聰明，多半了解經濟成長率中間有太多可以玩的把戲，因此會開始追尋一西其他的資料。比如：零售業銷貨成長，採購經理人指數，甚至，用水用電量。

中國因為幅員廣大，每個區域的經濟動能不盡相同。而統整起來的整體數據跟現實狀況很容易出現問題。因此，有一群人，就仿效了美國的做法，做出了這個有趣的玩意兒：China Beige Book




How to gauge the economic condition of a country?
Such questions remain challenging for lots of Economists, especially in case of China. Various reports has suggested that GDP growth number ALONE cannot be indicative for the overall economic condition. Some economists suggest to look at electricity consumption, considering China as "world factory". Others suggest to look at retail sales and service sector, considering China "in-transit" as a more domestic-consumption-oriented economy.

Now, Beige Book has its Chinese version.

近期Beige Book資料：
China Beige Book News Coverage
FED Beige Book, current release 

中國企業繼續往外購買.....well, 足球隊?

這是個2012年年中，兩則中國企業的併購消息:

中信證併購里昂信貸
今年先吃下19.9%的股權, 計畫於明年(2013)年中把剩餘的股權買下. 目前看來似乎是中信證write一個put option給CLSA, 然後CLSA可以把剩下的股權直接轉移.

中國鐵路建設買下Inter Milan 15%股權
交易金額: 500m 歐元
交易目的:國米需要錢, 主要是要蓋一座屬於自己的新球場. 而未來一年只能打Europa League的狀況下必須要找尋新的金主.

China, stabilizing?

Bloomberg's Interview with Andrew Sheng

"You have to understand China is a very big economy...still growing....(and so on so forth)"
Well, honestly, tell us something we did not know.