|
2011年10大脫靶商業(yè)預(yù)言
作者:
SCOTT CENDROWSKI
時(shí)間:
2012年01月05日
來源: 財(cái)富中文網(wǎng)
位置:
從預(yù)言“市政債券暴跌”到“銀行股反彈”,,再到“雅虎咸魚翻身”,,今天我們來回顧一下2011年最不靠譜的十大商業(yè)預(yù)言。
|
美國市政債券暴跌
????2010年12月,,沉寂的市政債券市場突起波瀾,華爾街天后級的分析師梅里迪斯?惠特尼在美國哥倫比亞廣播公司(CBS)的《60分鐘》(60 Minutes)節(jié)目中宣稱市級和州級政府債券的違約規(guī)??赡苓_(dá)到幾千億美元,。當(dāng)時(shí)她估計(jì)可能有50-100宗較大規(guī)模的違約,其中很多將發(fā)生在“未來12個(gè)月內(nèi)”,。由于惠特尼是上次危機(jī)中最早發(fā)現(xiàn)問題的華爾街分析師,,她的預(yù)言很快就有了追隨者。市級政府的借款成本大幅上升,。市政債券市場資金外流創(chuàng)下了新高,。投資者們都在等待著清算日的到來。
????一年之后,,他們還在等待。標(biāo)準(zhǔn)普爾的數(shù)據(jù)顯示,,2011年市政債券違約額不到10億美元,,甚至遠(yuǎn)低于2010年的水平,。雖然沒人知道2012年會怎樣,迄今為止還沒有其他人預(yù)測會有幾千億美元的違約,??梢韵胍姡萏啬嵩诿襟w上已不太受歡迎,。到目前為止,,她尚未公開更新其投資主張。 |
|
|
Municipal bond meltdown
????Analyst Meredith Whitney sent tremors through the sleepy municipal bond market last December when she told 60 Minutes she expected hundreds of billions of dollars worth of defaults in city and state bonds. She guessed there might be 50 to 100 sizable defaults, many occurring "within the next twelve months." And because she spotted trouble early on Wall Street during the last crisis, her words were closely followed. Borrowing costs shot up for cities. Municipal bond funds experienced record outflows. And investors waited for a day of reckoning.
????A year later, they're still waiting. Standard & Poor's said muni defaults amounted to less than $1 billion this year, far less than even the 2010 figure. And while 2012 is anyone's guess, so far no one else is predicting hundreds of billions of dollars in defaults. Whitney has predictably taken a drubbing in the press. She hasn't publicly released an update to her thesis. |
銀行股反彈
????共同基金經(jīng)理布魯斯?伯克維茨由于2011年未踏準(zhǔn)節(jié)拍,,錯誤地押注金融股而備受詬病,。他重倉的一些股票,如美國國際集團(tuán)(AIG)和美國銀行(Bank of America),,2011年跌幅超過了60%,,而同期KBW銀行指數(shù)僅下跌近30%。但伯克維茨并不孤單——整個(gè)華爾街都感受到了銀行股大跌的刺痛,。對沖基金經(jīng)理約翰?保爾森也為2011年押注銀行股反彈付出了沉重代價(jià):彭博社的數(shù)據(jù)顯示,,截至11月份他的Paulson Advantage Plus基金下跌了46%。
????2011年的歐元危機(jī)改變了大銀行的等式,。投資者回避一切風(fēng)險(xiǎn)性資產(chǎn),,撲朔迷離的銀行業(yè)自然屬于此類。當(dāng)然,,同病相憐者也不少,。2011年在金融股上栽了跟頭的對沖基金經(jīng)理還有邁克爾?普里斯、戴維?泰珀,、李?恩斯利,、克里斯平?奧迪和邁克?辛茨。 |
|
|
Recovery in bank stocks
????Mutual fund manager Bruce Berkowitz took plenty of flak for his ill-timed bet on financials this year. Shares of his top holdings like AIG and Bank of America fell more than 60% in 2011, while the broad KBW Bank Index shed nearly 30%. But Berkowitz wasn't alone -- plunging bank stocks spread pain across all of Wall Street. Hedge fund manager John Paulson also paid dearly for his bet on a banking recovery in 2011: his leveraged Paulson Advantage Plus fund fell 46% through November, according to Bloomberg.
????This year the euro crisis changed the equation for big banks. Investors fled anything associated with risk, and hard-to-analyze banks fell into that category. Of course, misery loves company. Other notable hedge fund managers who fell for financials in 2011 include Michael Price, David Tepper, Lee Ainslie, Crispin Odey, and Michael Hintze. |
|
|