你得明白像 Grantham 這樣的對衝基金經理為啥上媒體販賣恐慌

不是為了小散的利益著想，是為了把他基金的潛在客戶機構投資者嚇壞了、然後把大錢交給他管理。

可惜他的GMO基金最近一兩年實際回報率不佳，投資者撤走了大量資金。看看他的基金在2017年初的資產分配情況，這一年是波動率直線走低、美國股市上漲最好的一年，而他隻有7%的資金在美股裏麵，難怪流失資金。

The Journal provided the following recap of GMO's asset allocation, which included 7% in US stocks, 27% in cash, 16.9% in foreign developed, 20% in alternative strategies and 20% in emerging equities and bonds. That only adds up to 90%, so perhaps the remaining 10% is in fixed income or timber land, which he is a fan of but that might be counted in the alternative sleeve.

說實話，這家夥對市場脈搏的把握還不如俺呢；）

 

[citypeasant]

http://www.wsj.com/mdc/public/page/2_3022-mfsctrscan-moneyflow.html?mod=topnav_2_3002
從流量看，資本在離開市場吧