Asset inflation, as evidenced by bubbles in real estate and equities, is rampant.
资产价格正在疯狂上涨,房地产和股市的泡沫即是佐证。
Who CARES if credit spreads narrow, and asset prices — including equities — go up?
谁会关心如果利差收窄和资产价格(包括证券)上涨呢?
There are ultra-low interest rates (real interest rates are probably negative); this is leading to certain asset bubbles – particularly in real estate and public equities.
该地区利率极低(实际利率很可能为负值),这必将导致资产泡沫,特别是在房地产和公众持股领域。
When you look at each of those individual asset classes -domestic equities, foreign equities, bonds, real assets, absolute return and private equity -each of those individual asset classes is going to be relatively well-diversified in terms of exposures to individual positions or individual securities.
当你观察每一种资产,比如国内股权,国外股权,债券,不动产,绝对收益和私募股权,这其中每一种,比起单一头寸或单一证券,风险都是相对分散的
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