金融市场
Big Read: The perils of calling the peak of the equities bull run
本轮manbetx app苹果 股市牛市何时终结?


本轮牛市持续时间很长,意味着股票估值早就比1987年“黑色星期一”来袭时贵。终极挑战是,如何为冲击做好准备。

As share prices tumbled on that infamous Monday in October 1987, a chain of dominoes stretching from Tokyo to New York, Tim Hammett was more stunned by the reaction of his new colleagues at an investment fund in the City. The value of household names was collapsing, yet they were cheering. “Out came the drinks,” says Mr Hammett, who had just started working at CIN Management, a fund responsible for the pensions of Britain’s coal miners.

在1987年10月那个尽人皆知的星期一,当股价暴跌时,多米诺骨牌效应从东京扩散到纽约,但更让蒂姆•哈米特(Tim Hammett)目瞪口呆的是他在伦敦金融城一家投资基金的新同事们的反应。家喻户晓的公司的股票价格在重挫,然而他们却在欢呼。“他们还拿出了酒,”哈米特说,那时他刚刚开始在CIN Management工作,这是一家负责管理英国煤矿工人养老金的基金。

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