中澳簽署雙邊本幣互換協議
22-03-2012 華爾街日報
澳大利亞央行(Reserve Bank of Australi)週四與中國央行簽署了中澳雙邊本幣互換協議﹐成為人民幣日趨國際化、兩國貿易關係迅速發展的又一例證。
澳大利亞央行發佈聲明稱﹐這份互換規模300億澳元（合312億美元）的貨幣互換協議將促進中澳兩國間的貿易和投資﹐並有助於使用人民幣進行貿易結算。
目前中國正在穩步推進人民幣國際化進程。為實現這一目標﹐中國將擴大允許在指定城市進行人民幣跨境貿易結算試點的覆蓋範圍。香港目前已是中國政府指定的離岸人民幣交易中心﹐倫敦等一些城市也在積極爭取扮演類似角色。
中國迄今已經與土耳其、巴基斯坦、阿聯酋、馬來西亞、新西蘭等一系列國家分別簽署了貨幣互換協議。
2010-2011財年澳中雙邊貿易總額達到約1,060億澳元。目前兩國正就簽署自由貿易協定進行磋商。中國已經成為澳大利亞最大的貿易夥伴﹐中國對煤炭、鐵礦石等資源的需求在支撐澳大利亞經濟方面發揮著關鍵作用。
澳大利亞央行稱﹐簽署這份協議主要的目的在於支持中澳兩國的貿易和投資往來﹐尤其是以本幣計價的交易﹐以及增強雙邊金融合作。
澳大利亞央行行長Glenn Stevens與中國央行行長周小川在北京的一個儀式上簽署了這份協議。
聲明稱﹐該協議反映出﹐中澳雙邊使用人民幣進行貿易結算以及人民幣計價的投資機會日益增多。
在此之前﹐中國政府去年11月份批準澳元和人民幣在中國銀行間市場兌換。
一些澳大利亞企業已經開始採用人民幣進行貿易結算。2011年﹐Fortescue Metals Group在中國完成了首次使用人民幣結算的交易﹐朝著以人民幣結算鐵礦石合同的目標邁進了一步。這家鐵礦石企業透過在中國的一個本地帳戶以人民幣採購了物資。
除礦業之外﹐其他行業的企業也有意擴大對華貿易。澳新銀行(Australia & New Zealand Banking Group)亞洲首席執行長Gilles Plante近期在一次採訪中稱﹐該行計劃在未來10年把在華業務網絡擴大一倍以上﹐並增聘數百名員工﹐藉此拓展中國業務。
不過﹐匯豐銀行（澳大利亞）(HSBC Australia)貿易服務部門主管Andrew Skinner週四在一個專訪中表示﹐一些澳大利亞出口商仍對採用人民幣進行結算持保留態度。Skinner稱﹐只有7%的澳大利亞企業準備在未來六個月左右時間內採用人民幣進行貿易結算﹐比例遠低於中國貿易對手方的48%﹐這一點令他擔憂。
他說﹐在是否準備在未來六個月採用人民幣進行結算的問題上﹐澳大利亞出口企業的反應是落後的﹔考慮到中國是澳大利亞最大的貿易夥伴國﹐這樣的統計數據令人擔憂。
匯豐預計﹐到2015年﹐人民幣將成為三大貿易結算貨幣之一。
不過﹐在發行離岸人民幣計價債券（俗稱點心債）方面﹐澳大利亞公司一直不太積極﹐而全球其他地區的企業對點心債的興趣日趨濃厚。分析師們稱﹐澳大利亞公司在這方面表現出的興趣不大。
2012年3月22日 星期四
高盛右想玩咩...
高盛預計股票的投資回報將超過債券
21-03-2012 華爾街日報
高盛週三表示﹐儘管全球股市今年已經大幅上漲﹐但相對債券而言﹐股票依然是優先投資選擇。
高盛的Peter Oppenheimer和Matthieu Walterspiler在週三的全球策略報告中稱﹐從當前的估值水平來看﹐該行認為目前是長久告別債券、長期買進股票的時候了﹐並預計未來幾年股票將呈現上升趨勢。
高盛表示﹐儘管存在大量風險﹐且未來的股票收益可能會低於過去十年間的水平﹐但仍有越來越多的理由讓人相信﹐股票的表現可能不會像市場預期的那麼糟糕。
高盛稱，信貸趨緊、投資支出和人口結構變化趨勢對股票估值構成的風險被夸大；技術和薪酬控制等因素可能會有助於防止公司利潤率下降，至少會像當前估值所揭示的那樣。
21-03-2012 華爾街日報
高盛(Goldman Sachs)對股票的表現作出了樂觀預期﹐稱隨著時間推移，這類資產的回報有望超過債券。
高盛週三表示﹐儘管全球股市今年已經大幅上漲﹐但相對債券而言﹐股票依然是優先投資選擇。
高盛的Peter Oppenheimer和Matthieu Walterspiler在週三的全球策略報告中稱﹐從當前的估值水平來看﹐該行認為目前是長久告別債券、長期買進股票的時候了﹐並預計未來幾年股票將呈現上升趨勢。
高盛表示﹐儘管存在大量風險﹐且未來的股票收益可能會低於過去十年間的水平﹐但仍有越來越多的理由讓人相信﹐股票的表現可能不會像市場預期的那麼糟糕。
高盛稱，信貸趨緊、投資支出和人口結構變化趨勢對股票估值構成的風險被夸大；技術和薪酬控制等因素可能會有助於防止公司利潤率下降，至少會像當前估值所揭示的那樣。
2012年3月19日 星期一
Keys to Success by Jim Rogers
Jim Rogers' Keys to Success (taken from the titles and sub headings of each chapter of the new book, "A Gift To My Children"):
- Do not let others do your thinking for you
- Focus on what you like
- Good habits for life & investing
- Common sense? not so common
- Attention to details is what separates success from failure
- Let the world be a part of your perspective
- Learn philosophy & learn to think
- Learn history
- Learn languages (make sure Mandarin is one of them)
- Understand your weaknesses & acknowledge your mistakes
- Recognize change & embrace it
- Look to the future
- “Lady Luck smiles on those who continue their efforts”
- Remember that nothing is really new
- Know when not to do anything
- Pay attention to what everybody else neglects
- If anybody laughs at your idea view it as a sign of potential success
2012年3月18日 星期日
正宗德國咸豬手食譜 German Pork Knuckle
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German Pork Knuckle (Shweinshaxe) |
Recipe from KING LUDWIG BEERHALL
正宗德國鹹豬手，皮層脆卜卜，肉質幼滑，雖然外表看來略為乾身，但入口就知道肉汁豐盈。皮層之所以香脆惹味，秘訣是烤焗期間反覆噴上麥啤，因為麥啤糖分高，可令表皮變得金黃焦脆，口感更佳。烹調這道菜式時不可心急，應先用白醋煲水，再以極慢火浸烚豬手約四十五分鐘，因為猛火會令豬皮爆裂，影響賣相。烤前再用啤酒浸十分鐘，入爐後同樣不可貪快使用高溫，否則外熟內生，外皮亦容易燒燶。 烤約四十五分鐘後，鹹香脆卜卜的豬手便大功告成；配以冰凍的德國啤酒和酸菜同吃，更添風味。
Pour water into a pot. Add the white pepper and simmer for 3 minutes.
Add bay leaves in boiling water, then simmer for another 10 minutes.
3 放入已解凍鹹豬手，加白醋，水滾後再以慢火烚豬手四十五分鐘。
Stewed the pork knuckle, add the white vinegar, then bring to boil, simmer for 45 minutes.
4 鹹豬手在白醋水內烚至轉淺棕色後，熄火，浸在溫水內十小時。
Simmer the pork knuckle until turns into light brown, turn off the heat, soak for 10 hours.
Remove and drain the pork knuckle from the white vinegar water. Preheat oven to 220℃.
Pour 1 can of wheat beer into a big bowl, then add thyme, mix well.
Add in the pork knuckle, and then soak for 10 minutes.
Message the pork knuckle for 2 minutes when soaking, remove and drain later.
Place the pork knuckle horizontally on a baking tray. Bake to 220℃ oven for 45 minutes.
10 將一罐麥啤倒入噴壺，每二十分鐘在鹹豬手表面噴射。豬皮烤至金黃香脆，趁熱上桌。
Add I can of wheat beer in a sprinkling can, spray the beer on the pork knuckle surface in every 20 minutes until golden brown, serve hot.
Add I can of wheat beer in a sprinkling can, spray the beer on the pork knuckle surface in every 20 minutes until golden brown, serve hot.
小貼士：
● 鹹豬手與白醋加入鍋中，水滾後即調慢火，以免皮層裂開。
● Add pork knuckle and white vinegar in to boiling water, cook slowly after boiled otherwise the skin will split.
資料來源：
http://www.eastweek.com.hk/index.php?aid=1111
2012年3月15日 星期四
團購餐 @ Qui Ristorante Italiano
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| 大排檔... |
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| 香草麵包 |
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| 意式生牛肉(無味的...)伴巴馬芝士片配欖油沙律、輕芝士焗意大利雲吞(都喺無味的...) |
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| 烤意式原隻咸豬手有機蔬菜 (我揀的主菜，有些硬，味道可以) |
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| 烤小牛排伴有機薯菜(Honey揀的主菜，牛味不錯) |
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| 意大利乳酪雪糕、泡芺 |
我想講，團購餐的idea旨在promote餐廳，增強知名度。但如果因為太多人食引致service差，噉咪弄巧反拙，响度趕客？
當經理一知道我哋喺團購，佢就將我哋流放咗响室外，啲枱密到不得了，好似大牌檔噉！我哋要求坐入面，佢話入面留咗位，我哋話我哋都喺留咗位，佢就話我哋只可坐出面，轉個頭就走咗。
跟住，就俾張紙我哋tick嘢食，語氣就好似公立醫院啲姑娘，求其講完就算，好似你好阻街噉...
我心諗，洗唔洗噉趕客呀.... 感覺好似我哋响度乞食....
其實我食嘢，一般只注重食物味道，好少理餐廳裝修及服務。
但今次，我真喺食得唔喺咁開心...
論食物，味道喺可以的。$78 per head，好似好平，但睇番佢個餐牌，晚餐有啲都喺$80個，佢根本唔使蝕！
那樣的服務態度，我喺唔會再幫襯佢！
餐牌如下：
a) 頭盤1份: (2選1)
- 煙三文魚它它伴有機蕃茄配無花果黑醋汁1份 (配香草麵包) 或;
- 意式生牛肉伴巴馬芝士片配欖油沙律1份(配香草麵包)
b) 餐湯1碗：
- 意大利蕃茄雜菜湯1碗
c) 前菜1份：
- 輕芝士焗意大利雲吞3粒
d) 主菜1份: (4選1)
- 烤小牛排伴有機薯菜1份 或;
- 慢煮羊膝肉伴有機雜菇1份 或;
- 烤意式原隻咸豬手有機蔬菜1份 或;
- 白汁蜆肉白酒意大利飯1份
e) 精選甜品：
- 意大利乳酪雪糕1杯 及;
- 泡芺2個 或 芝士蛋糕1件 (由商戶決定)
我信高盛喺咁邪惡！
Why I Am Leaving Goldman Sachs
By GREG SMITH
Published: March 14, 2012
The New York Times
TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.
It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization. I am sad to say that I look around today and see virtually no trace of the culture that made me love working for this firm for many years. I no longer have the pride, or the belief.
But this was not always the case. For more than a decade I recruited and mentored candidates through our grueling interview process. I was selected as one of 10 people (out of a firm of more than 30,000) to appear on our recruiting video, which is played on every college campus we visit around the world. In 2006 I managed the summer intern program in sales and trading in New York for the 80 college students who made the cut, out of the thousands who applied.
I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work.
When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.
Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave.
How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.
What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.
Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.
It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” (扯線木偶) sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus,God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.
It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are.
These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?” It bothers me every time I hear it, because it is a clear reflection of what they are observing from their leaders about the way they should behave. Now project 10 years into the future: You don’t have to be a rocket scientist to figure out that the junior analyst sitting quietly in the corner of the room hearing about “muppets,” “ripping eyeballs out” and “getting paid” doesn’t exactly turn into a model citizen.
When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces. I was taught to be concerned with learning the ropes, finding out what a derivative was, understanding finance, getting to know our clients and what motivated them, learning how they defined success and what we could do to help them get there.
My proudest moments in life — getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics — have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.
I hope this can be a wake-up call to the board of directors. Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they make for the firm. And get the culture right again, so people want to work here for the right reasons. People who care only about making money will not sustain this firm — or the trust of its clients — for very much longer.
Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.
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