2013投资者教育讲座系列.PDFVIP

2013 投資者教育講座系列 全球流動性改變環境下 投資考慮因素 莫偉民先生 ，CFA 香港財經分析師學會董事 / 基金經理 本講座的內容旨在就有關課題提供一般資料及指引。有關內容所採用之例子及有關資 料僅作說明用途，不應視作可取代專業意見。 投資者教育中心、香港財經分析師學會 、有關講者及其所代表的各機構不會就本資料 的任何錯誤、遺漏、不確或任何因使用本資料而導致的影響負上責任，亦不會就任何 因使用或未能使用本講座所提供的訊息或資料所導致的任何直接、隨後發生、相關、 間接或特別的虧損或損失接受或承擔任何法律責任，或受理任何有關申索，不論有關 的虧損或損失是否因投資者教育中心、香港財經分析師學會 、有關講者或任何其所代 表的機構的疏忽導致。 (以英文版本為準) The materials for this seminar are intended to provide general information and guidance on the subject concerned. Examples and other information used in the materials are only for illustrative purposes and should not be regarded as a substitute for professional advice. The Investor Education Centre (IEC), Hong Kong Society of Financial Analysts (HKSFA), the speaker(s) and the organisation that each the speaker is representing take no responsibility for any error, omission or inaccuracy in the materials, or for any consequential effect of using them, nor will they accept or assume any liability nor entertain any claim for any direct, consequential, incidental, indirect or special loss or damage, howsoever caused, of any kind, arising from the use of, inability to use or reliance upon the materials, whether or not such loss or damage is caused by the negligence of the IEC, the HKSFA, the speaker(s) or the organisation that any the speaker is representing. 投資者教育中心及香港財經分析師學會 2013投資者教育講座系列 全球流動性改變環境下 投資考慮因素 2013年9月14日 P. 4 “Those classes of investments considered ‘best’ change from period to period. The pathetic fallacy is what are thought to be the best are in truth only the most popular - the most active, the most talked of, the most boosted, and consequently, the highest in price at that time.” - Fred Schwed, Where are the Customer’s Yachts? 資料來源: 美銀美林