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 Finance industry and China |
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◁金融断想▷ Let me try to follow up with KungFuWang's comments on financial services.... -- 残荷 - (3865 Byte) 2003-7-15 周二, 23:54 (1686 reads) |
nyc
头衔: 海归中尉
加入时间: 2004/02/25
文章: 32
海归分: 4557
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作者：nyc 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
All points are well taken.
Financial market is too big to be able to understand by any single person. Everyone speaks from his/her own background. My interests are equities (portfolio management, asset allocation and strategies). I know little about MBS (mortgage-backed security), which has hot for a while and very, very hot in the first quarter of this year. MBS is a good example of a “scalable product”. There is no such thing called MBS 20-30 years ago. It’s invented on the Wall St. Now it’s multi-trillion dollars business. MBS is a financial product.
Financial companies are always big spenders on technology in order to be one step ahead of the competition. But technology spending is discretional by management. Nothing can truly replace the human contact in the financial world (at least not yet). Financial companies are flooded with technology gadgets. Some are necessities such as financial information service (Bloomberg, Reuters, Factset). Financial information service can be really leveraged. For example, Bloomberg charges $10,000 per terminal. That’s what makes him a billionaire.
It’s tougher to succeed in building a financial company (either service oriented or technology oriented). More or less, financial market is regulated. Without the right connect, your fortune can be blown away overnight by the change of governmental policy.
作者：nyc 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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