What’s the Worst That Could Happen? 最糟糕的情況是什麼？ by Charles Cheng, CFA     The decision to put one’s assets in equity markets as opposed to cash, bonds, real estate, or commodities is based on one’s perception of the relative risks […]

Trading On Trade Troubles 貿易困難期的市場交易   by Charles Cheng, CFA     Markets took a tumble in May due to the trade war escalation between the US’s Trump administration and China. The MSCI World Index fell 3.4% between May 3rd and […]

Investing Math Matters 關乎收益的投資數學 by Charles Cheng, CFA 鄭又銓, CFA     The math of investing returns is something easily overlooked or misunderstood for the average investor. But even simple differences in calculation or understandin […]

Inversions 反轉 (債券殖利率倒掛) by Charles Cheng, CFA 鄭又銓, CFA     Markets took a tumble at the start of the last week of March, and the financial press blamed the US Treasury yield curve as the trigger. The spread between the 3 month Tre […]

Interest Rate Decisions 利率決策 by Charles Cheng, CFA 鄭又銓, CFA   Among the many unknowns for investors going forward in 2019 is the uncertainty of the path that interest rates are going to take. Despite the market turmoil late in 2018, th […]

Control what you can control 控制你可以控制的 by Charles Cheng, CFA 鄭又銓, CFA     With the volatile financial markets of the 2018, there may be a lot of uncertainty among investors in making their investing and financial decisions. It is w […]

Comparing the latest market drawdown to previous routs 近期股市的回檔與過去股災的比較 by Charles Cheng, CFA 鄭又銓, CFA   Equity market turmoil continued into December, with the MSCI All Country World Index (ACWI) falling an additional -10.9% by Decembe […]

Learning to accept and embrace market volatility, redux 學習接受並掌握市場波動，重溫 by Charles Cheng, CFA 鄭又銓, CFA     Previously, I’ve written about how keeping the long view helps investors to weather these periods of market turmoil and avoi […]

Perspective on the Market Selloff 如何看待當下的市場調整期 by Charles Cheng, CFA 鄭又銓, CFA     Global markets have been in turmoil this month. Month to date (as of Oct 24), the S&P 500 is down -6.0%, the MSCI World ACWI Index down -7.0%, t […]

Is there no place like home? 沒有像家一樣的地方嗎？ by Charles Cheng, CFA 鄭又銓, CFA     We have just passed the ten-year anniversary of Lehman Brother’s collapse. While the crisis is a reminder that in investing, one always has to be prepared […]

The Meaning of Risk Adjusted Return 風險調整回報的意義 by Charles Cheng, CFA 鄭又銓, CFA     Following the recent correction this year in emerging markets, the return of the MSCI Emerging Markets Index (MXEF) over the last three years has fal […]

The Edge of the Performance Horizon 基金回報，位於可見地平線的邊緣 by Charles Cheng, CFA 鄭又銓, CFA   As we approach the ten-year anniversary of the worst parts of the global financial crisis, one of the more basic tasks for individual investors is bec […]