[外文翻譯]巴菲特和格羅斯警告:516萬億美元的大泡沫是一場在等待發(fā)生的災(zāi)難.rar
[外文翻譯]巴菲特和格羅斯警告:516萬億美元的大泡沫是一場在等待發(fā)生的災(zāi)難,/derivatives the new 'ticking bomb'-buffett and gross warn: $516 trillion bubble is a disaster waiting to happen內(nèi)包含中文翻譯和英文...
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原文檔由會員 鄭軍 發(fā)布
[外文翻譯]巴菲特和格羅斯警告:516萬億美元的大泡沫是一場在等待發(fā)生的災(zāi)難/Derivatives the new 'ticking bomb'-Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happen
內(nèi)包含中文翻譯和英文原文,內(nèi)容完善,建議下載閱覽。
①中文頁數(shù)4
中文字?jǐn)?shù)4852
②英文頁數(shù) 5
英文字?jǐn)?shù) 2573
③ 摘要
“查理和我相信,伯克希爾應(yīng)該是一個金融力量的凝聚”,在次級貸款危機(jī)爆發(fā)的五年前巴菲特寫道。
“我們要努力警惕任何形式的特大災(zāi)難風(fēng)險,而且形勢使我們過分欣賞急速增長的長期衍生工具合約及大量的無擔(dān)保應(yīng)收款的增長。但我們認(rèn)為,衍生品是攜帶危險的大規(guī)模殺傷性金融武器,盡管現(xiàn)在潛伏,卻可能致命”。
在2002年巴菲特寫給伯克希爾股東的信里作出這一警告。他預(yù)見到了一個很多人忽視了的未來。伊拉克戰(zhàn)爭集結(jié)是個熱點(diǎn)。大規(guī)模殺傷性武器的比喻和蘑菇云閃現(xiàn)在他的頭腦理。
出現(xiàn)在巴菲特頭腦的還有:4年前他收購了通用再保險公司,當(dāng)時對沖基金長期資本管理公司幾乎扼殺了全球貨幣體系。為何呢?至關(guān)重要的是:長期資本管理公司幾乎以相對較小的50億美元的交易損失扼殺了該系統(tǒng)。這個小數(shù)額與現(xiàn)在華爾街的數(shù)千億美元的次級貸款減計相比,簡直就是業(yè)余級選手。
"Charlie and I believe Berkshire should be a fortress of financial strength", wrote Warren Buffett. That was five years before the subprime-credit meltdown.
"We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal."
That warning was in Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to ignore. The Iraq war build-up was at a fever-pitch. The imagery of WMDs and a mushroom cloud fresh in his mind.
④關(guān)鍵字 格羅斯警告/Buffett and Gr
⑤參考文獻(xiàn)
Paul B. Farrell, MarketWatchLast update: 7:31 p.m. EDT March 10, 2008
內(nèi)包含中文翻譯和英文原文,內(nèi)容完善,建議下載閱覽。
①中文頁數(shù)4
中文字?jǐn)?shù)4852
②英文頁數(shù) 5
英文字?jǐn)?shù) 2573
③ 摘要
“查理和我相信,伯克希爾應(yīng)該是一個金融力量的凝聚”,在次級貸款危機(jī)爆發(fā)的五年前巴菲特寫道。
“我們要努力警惕任何形式的特大災(zāi)難風(fēng)險,而且形勢使我們過分欣賞急速增長的長期衍生工具合約及大量的無擔(dān)保應(yīng)收款的增長。但我們認(rèn)為,衍生品是攜帶危險的大規(guī)模殺傷性金融武器,盡管現(xiàn)在潛伏,卻可能致命”。
在2002年巴菲特寫給伯克希爾股東的信里作出這一警告。他預(yù)見到了一個很多人忽視了的未來。伊拉克戰(zhàn)爭集結(jié)是個熱點(diǎn)。大規(guī)模殺傷性武器的比喻和蘑菇云閃現(xiàn)在他的頭腦理。
出現(xiàn)在巴菲特頭腦的還有:4年前他收購了通用再保險公司,當(dāng)時對沖基金長期資本管理公司幾乎扼殺了全球貨幣體系。為何呢?至關(guān)重要的是:長期資本管理公司幾乎以相對較小的50億美元的交易損失扼殺了該系統(tǒng)。這個小數(shù)額與現(xiàn)在華爾街的數(shù)千億美元的次級貸款減計相比,簡直就是業(yè)余級選手。
"Charlie and I believe Berkshire should be a fortress of financial strength", wrote Warren Buffett. That was five years before the subprime-credit meltdown.
"We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal."
That warning was in Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to ignore. The Iraq war build-up was at a fever-pitch. The imagery of WMDs and a mushroom cloud fresh in his mind.
④關(guān)鍵字 格羅斯警告/Buffett and Gr
⑤參考文獻(xiàn)
Paul B. Farrell, MarketWatchLast update: 7:31 p.m. EDT March 10, 2008