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short02

Short Financials(SEF)

Dow JonesUSFinancialsSM Index

Short Oil & Gas(DDG)

Dow JonesUSOil & Gas SMIndex

UltraShortBasicMaterials(SMN)

DowJonesUSBasicMaterialsIndex

UltraShortConsumer Goods(SZK)

DowJonesUSConsumerGoodsIndex

UltraShortConsumerService(SCC)

DowJonesUSConsumerServicesSMIndex

UltraShort Financials(SKF)

DowJonesUSFinancialsSM Index

UltraShort Health Care(RXD)

DowJonesUSHealth CareSMIndex

UltraShort Industrials(SIJ)

Dow JonesUSIndustrialsSMIndex

UltraShort Oil &Gas(DUG)

Dow JonesUSOil & Gas SMIndex

UltraShort Real Estate(SRS)

Short01

FundTickerIndex/Benchmark

Short MSCIEAFE(EFZ)

MSCI EAFEIndex

Short EmergingMarkets(EUM)

MSCI EmergingMarkets Index

UltraShort MSCIEAFE(EFU)

MSCI EAFEIndex

UltraShort MSCIEmerging Markets(EEV)

MSCI EmergingMarkets Index

UltraShort MSCIJapan(EWV)

MSCI JapanIndex

UltraShortFTSE/Xinhua China 25(FXP)

FTSE/Xinhua China 25Index

 

FundTickerIndex/Benchmark

UltraShort Lehman7-10 Year Treasury(PST)

Lehman Brothers 7-10Year U.S. Treasury Index

UltraShort Lehman20+ Year Treasury(TBT)

Lehman Brothers 20+Year U.S. Treasury Index

 

FundTickerIndex/Benchmark

UltraShort DJ-AIGCommodity(CMD)Dow Jones—AIG Commodity IndexSM

UltraShort DJ-AIGCrude Oil(SCO)Dow Jones—AIG Crude Oil Sub-IndexSM

UltraShort Gold GLL (Gold)

UltraShort Silver (ZSL)    

 Silver

 

FundTickerIndex/Benchmark

UltraShortEuro(EUO)

Euro/USDollar

UltraShortYen(YCS)

 

Short

Short QQQ(PSQ)

NASDAQ-100®Index

Short Dow30(DOG)

Dow Jones Industrial AverageSM

Short S&P500(SH)

S&P 500®Index

Short Russell2000(RWM)

Russell 2000®Index

UltraShort QQQ(QID)

NASDAQ-100®Index

UltraShort Dow30(DXD)

Dow Jones Industrial AverageSM

UltraShort S&P500(SDS)

S&P 500®Index

UltraShortRussell200(TWM)    

Russell 2000®Index

 

 

LOOKFORBIRDPOOP

$SPX
$COMPX
$INDU
$VIX

$BKX(PHIL KBW BANKINDEX)

ISHARS-HONGKONG MSCI(EWH)
ISHARS-JAPAN(EWJ)
ISHARS MSCI-TAIWAN(EWT)
SPDR S&P CHINA(GXC)

TWM
SKF

Hartford FinancialServices Group Inc(HIG:US)
Principal Financial Group Inc信安金融集团 (PFG:US)
Nationwide_Financial_Services美国全国保险公司(NFS)
Genworth Financial Inc.人寿和抵押贷款保险机构(GNW:US)
Lincoln National Corp.林肯国民公司(LNC:US)
Sun_Life_Financial_Inc光大永明人寿保险有限公司(SLF)
AEGON N.V全球保险集团(Euronext: AGN; NYSE: AEG)
Prudential Financial Inc保德信金融集团(PRU:US)
MetLife U.S.大都会保险(MET:US)
Manulife_Financial_Corp加拿大宏利金融集团(MFC)
Prudential plc英国保诚集团(LSE: PRU; NYSE: PUK)
AXA France法盛集团(AXA:US)


Short Sector Fund Ticker
UltraShort Financials (SKF)Dow Jones U.S. FinancialsSM Index
UltraShort Health Care (RXD) Dow Jones U.S. Health CareSMIndex
UltraShort Industrials (SIJ) Dow Jones U.S. IndustrialsSMIndex
UltraShort Oil &Gas  (DUG) Dow Jones U.S. Oil & Gas SM Index
UltraShort Real Estate (SRS) Dow Jones U.S. Real EstateIndexSM
UltraShort Technology (REW)Dow Jones U.S. Technology SM Index
UltraShortUtilities  (SDP) Dow Jones U.S. Utilities SM Index
UltraShort Basic Materials (SMN) Dow Jones U.S. Basic MaterialsSMIndex
UltraShort Consumer Goods (SZK) Dow Jones U.S. Consumer GoodsSM Index
UltraShort Consumer Services (SCC) Dow Jones U.S. Consumer Services SM Index
UltraShortSemiconductors    (SSG) Dow Jones U.S. SemiconductorsSM Index
UltraShort Telecommunications (TLL) Dow Jones U.S. SelectTelecommunications IndexSM
Short Financials (SEF) Dow Jones U.S. FinancialsSM Index
Short Oil &Gas (DDG) Dow Jones U.S. Oil& Gas SM Index


QF

NomuraChineseStockFund-DC

01314055:JP野村证券

NomuraChinaOpen

0131194A:JP 

Flexifund-OpportunitiesChina

FLXCHNP:LX 扬子基金

Flexifund-EquitySmallCapsChinaA

FLEXSMP:LX 扬子基金

Flexifund-EquitySmallCapsChinaA

FLEXSMC:LX 扬子基金

Flexifund-EquityChinaA

FLEXCHN:LX 扬子基金

Flexifund-EquitySmallCapsChinaA

比利时富通银行

FidelityNikkoGlobalSelection

China Advantage Fund日兴

博文
标签:

杂谈

“量化宽松”货币政策助涨商品价格

2009-1-15 0:45:09 

银河期货 蒋东义 孙锋 

中国证券报·中证网

    面对危机,美联储主席伯南克将联邦基金利率降到零后,亮出了“量化宽松货币政策”。该政策与普通降息的货币政策不同就在于,美联储不再以紧盯联邦利率为目标,不再以买卖短期国债为公开市场操作手段,取而代之的是

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(2009-03-22 07:15)
标签:

杂谈

量化宽松货币政策

2009/03/02 11:42 P.M.  

量化宽松(quantitative easing),俗称“印钞票”,是由日本央行于2001年提出,指央行向银行体系注入超额资金,让基准利率维持在零。包括大量印钞或者买入政府、企业债券等。

  央行可以通过两种方式放松银根:改变货币价格(即利率)或改变货币数量。多年以来,正统的货币政策一直以前一个政策杠杆为中心。然而,随着通胀率回落、短期名义利率逼近零点,从原则上说,央行可以后一种方式、即数量杠杆来实施扩张性货币政策。影响经济活动的是实际利率而非名义利率。如果经济处于通缩状态,那么即使名义利率为零,实际利率也会保持正值。

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杂谈

来源: 时代周报

发布时间: 20090312 15:25

 

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杂谈

分类: 转贴

摧毁华尔街的秘密数学公式

2009年03月12日


  和讯特约

  长城伟业 康兰

  从上世纪80年代中期起,华尔街就开始依赖金融工程精英们来创造各种新的获利途径。他们创造金钱的方法一直成功运转了这么多年,直到其中一种“突然”引发了这场全球性的经济灾难。


  一年前,人们总认为像李祥林(David X. Li)这样的数学天才可能会在某日得到诺贝尔奖的眷顾,因为金融经济学者,甚至华尔街的这类人才的确此前也获得过诺贝尔经济学奖。李祥林的开创性工作是衡量投资风险,而在金融领域,他的成果与以前获得过诺贝尔奖的学者的贡献相比更有影响力、更快速地得到广泛应用。然而,当晕头转向的银行家、政治家、监管者和投资者在这场自“大萧条”以来最严重的金融大崩溃的废墟中寻找事发根源时,他可能更应该庆幸的是自己还有一份金融业的工作。

  李祥林从事的研究是确定资产间的相关性(correlation),也就是将一些完全不同的事件之间的关联度用数学模型来量化。这是金融领域中的一大难题,但他构建的被称为高斯相依函数的公式能以数学手段令极其复杂的风险比以

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标签:

杂谈

分类: 转贴

金融危机中的核武器之——CDS+CDO简介
 
    CDS(Credit Default Swap)——信用违约互换——是国际上最重要的信用衍生品之一。CDS是一种在交易双方之间转移信用风险的合同,它将相关资产(Reference name)的违约风险从合同买方转移到合同卖方。(见图)

    合同买方(即Protection Buyer)定期向合同卖方(即Protection Seller)支付保费(Premium),若相关资产违约、破产等信用事件(Credit Events),那么合同卖方就必须向合同买方赔偿损失。

    CDO(Collateralized Debt Obligations)——债务抵押债券,是一种结构化信用衍生品,至今缺乏一个权威的定义。简单介绍两类最重要的CDO产品——Cash Flow CDO(现金型CDO)和Synthetic CDO(合成型CDO)。

wiki上介绍了两个关于CDO的动画:
http://www.portfolio.com/interactive-features/2007/12/cdo

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(2009-03-14 09:35)
标签:

杂谈

分类: 感动

http://quanthr.com/bbs/forum-24-1.html

http://www.mitbbs.cn/bbsdoc/Quant.html

http://quanthr.com/bbs/forum-24-5.html

 

目前,金融工程师(financail engineer)的称谓越来越多的被QUANT所代替。下面这篇文章以浅显的语言介绍了QUANT的方方面面。
  随着国内金融市场的发展,相信会有更多的金融机构开始招募QUANT.
  ON BECOMING A QUANT
  MARK JOSHI
  1. What does a quant do?
  A quant designs and implements mathematical models for the pricing of derivatives, assessment of risk, or predicting market movements.
  2. What sorts of quant are there?
  (1) Front office/desk quant
  (2) Model validating quant
  (3) Research quant
  (4) Quant developer
  (5) Statistical arbitrage quant
  (6) Capital quant
  A desk quan

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杂谈

RGE Analysts' EconoMonitor
Meeting the U.S. Financing Needs
PrintShare
Delicious Digg Facebook reddit Technorati Mikka Pineda, Rachel Ziemba and Arpitha Bykere | Feb 18, 2009


Bank rescue via TARP funds, the bailout of the GSEs and two fiscal stimulus packages have put severe pressure on the U.S. fiscal deficit since 2008. Despite having little bang for the buck in the short-term, the recently passed $787 bn fiscal stimulus package will have a bill of $185 bn in FY2009 and $399 bn in FY2010 (based on Congressional Budget Office estimates), adding to the U.S. governments financing needs. Given further downside risks to growth and bank losses, another stimulus package and more funds for bank recapitalization will be required during 2009-10. After a deficit of $455 bn in FY2008, these expenditures will push the U.S. fiscal deficit to $1.6-1.8 trillion in FY2009 (already $569 bn in Oct 2008-Jan 2009) and over a trillion in FY2010. This along with plunging

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杂谈

http://www.repoweramerica.org/plan/unified-national-smart-grid/
原文在这:
The Problem: The US electricity transmission and distribution system – or ‘grid’ -- is in critical need of an upgrade. It is old, balkanized and too limited in its reach. The current grid is a series of independently operating regional grids – it can’t meet the needs of a nation whose economy would benefit substantially from the system optimization that comes with national interconnection. Its limitations and vulnerability to failure are also reported to cost the nation $80 billion to $188 billion per year in losses due to grid-related power outages and power quality issues.1 And most critical to clean energy development, areas rich in renewable resources like solar, wind and geothermal are currently not well-served and thus have no ‘highway’ available to move power outputs to the markets where that pow

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(2009-02-24 05:42)
标签:

杂谈

 

TOP TEN GLOBAL LIFE/HEALTH INSURANCE COMPANIES BY REVENUES

1 AXA  France法国安盛集团(AXA:US)

2 Assicurazioni Generali  Italy(AL:IM)

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杂谈

分类: 转贴

路透伦敦2月20日电
对冲基金正减持英国银行股空头仓位,转而做空保险和防御等类股,但由于对冲基金行业正迅速由盛转衰,此举对市场的影响减弱.
对冲基金在惨淡的2008年因做空银行股而满载而归,但银行股价跌势太急,且宣布了规模以百亿美元计的资产减值,因此许多基金认为英国银行可能已经把所有坏消息都公诸于众,其股价上涨的可能性增大.
知名对冲基金经理Crispin Odey本周宣称,正抄底英国银行股.他去年亦曾做空银行股.
许多基金对英国银行股空头仓位进行平仓,转而做空保险类股等板块.该板块2008年表现超越银行股,富时350寿险股指数.FTNMX8570下跌43%,低于富时350银行股指数.FTNMX8350的跌幅57%.
尽管保险公司已经公布一些减值消息,但部分对冲基金正押注保险商还有更多筹资需求或需减少派息.对冲基金公司Lansdowne Partners本周增加Legal & General(LGEN.L: 行情)的空头仓位,并做空Aviva(AV.L: 行情),英国保诚集团(PRU.L: 行情)和Old Mutual(OML.L: 行情).
防御类股亦成为对冲基金做空的目标.该板块估值受到共同基金推升,因共同基金受到更多的约束,因此即使是在市况很糟的时候也不得不寻求回报增长.
Fauchier Partners首席执

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