財經零距離 – 4/16/2021
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【市場更新】
1. 本週市場再創新高，標普500最高來到4190。延續之前的看法，我們仍然認為短期內會碰到回檔。一個很有趣的現象是雖然現在指數比三月時高，但認為市場已經泡沫的投資人比例反而比四月低。就像經濟衰退從來沒有發生在大家都知道會經濟衰退的時候，只有在泡沫破滅時投資人才會想到泡沫的存在。(Source: The Daily Shot)
2. 史上最大的龐氏騙局經理人Bernie Madoff病死獄中，Madoff在世時詐取客戶共$190億美元的資產，其中不乏政商名流，在東窗事發後，他被判刑150年，此案件也對金融市場的監理產生了重大的影響。
- 龐氏騙局(俗稱老鼠會)指的是經理人在拿到投資人的錢後並未實際投資產生報酬，而是利用新投資人提供的資金提供投資人分紅或是滿足資金贖回需求。通常在金融市場大幅震盪時，因缺乏新資金且資金贖回需求增加時會東窗事發。
- 投資人如何保護自己不要受騙:
- 投資前確認資產保管是否安全: 合法資產管理公司的管理帳戶會讓投資人以自己的名義在券商開戶，資產管理公司僅有交易權限，不能將資產移出帳戶。如果是透過對沖基金方式投資的話， 最佳實務典範是要有會計師查核簽證及獨立的基金管理公司核算績效。保管資產的券商本身規模及財務是否健全也該注意。
- Trust, but verify: 不論經理人的名氣、頭銜多響亮，基本該確認的內容還是不能省略。Madoff曾是納斯達克交易所的主席，但不代表他不會行騙。
- 如果績效聽起來好的不像真的，通常就不是真的: 大家都喜歡高報酬，但當報酬顯不合理時龐氏騙局的機率大增。當然這不代表低報酬就不會是騙人的，Madoff編造的報酬其實僅有年報酬10%，以當時來看並不突出，可以說是掌握「高報酬=詐騙」心理的反其道而行。
- 不論如何小心謹慎，要100%杜絕金融市場的詐騙行為並不容易，但慎選有信譽的公司及一些基本的確認可以大幅降低受害的可能性。
3. 拜登總統持續強調願意與國會議員協商$2.3兆美元基礎建設法案的內容以及財源。
【疫情更新】
- 美國因J&J疫苗的副作用決定暫停施打該疫苗，市場對該新聞反應有限。
圖片來源：網絡，版權歸原作者
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