※ 引述《honeylandis (一生一爱一瓢饮)》之铭言： : ※ 引述《tengharold (RoadMan_A)》之铭言： [I am allowed to nom my own translation XD] : Dear tengharold, I am impressed by the skills of your translation. : However, what really interests me is the topic. : Since I am money hungry, I am always fond of the investment of real estate. : The tag is talk, so just talk the talk and don't have to walk the walk. : It might bore the readers, but my humble opinion is expected to be conveyed. : It's sort of interesting that Chinese people are always thinking about that : the possession of the real estate is the real symbol of being wealthy. Real estate is usually the single largest asset an individual will own in his/her whole life, plus it is visible (you live in your house while your bank balance is just a number) so it makes sense for people (not just Chinese) to believe real estate = wealth. And truthfully, a well managed real estate portfolio can generate good regular income without the regular risks of a stock/bonds portfolio. : I have no intention to aruge about the viewpoint, but I come across some : investors whose ideas are so much alike. : In this article, the financial analyst said, "Real estate is : regarded as a relatively safe investment." : No offense. I disapprove. Just as another E-pal mentioned, : it is so complicated. : When it comes to investment, the risk we are taking and we can afford, : the assets allocation, the healthy conditions of investors are needed : to be taken into consideration. : How mcuh profits can we get with limited time? : At times, we don't need more money but we do need to make our money bigger, : which is the real key to invest. : That's because we need to fight against inflation and make sure that : our investment policy is efficient. Of course you disapprove. I disapprove too. Millions of Americans discovered post-2008 that real estate is not as safe as they believed. Real estate is an asset like any other, thus its price is subject to market forces :) the problem is that the same people who understand market forces well when it comes to buying eggs at market suddenly become irrational when they're talking about luxury condos. Rational actors may not remain rational. When investing, many things must be taken into account, including the quality and liquidity of the asset you are investing in. I think many Western pundits believe the quality of Chinese real estate is crap. Here I define quality not as in construction quality, but purely as an investment asset: is it well- priced? Can you liquidate it quickly with little loss? Will it pay well enough over time, in capital gains, cash flow, or other ways? I'm sure many investors in China are happy about the fact that, "Ooh, I now own a luxury condo of RMB$N million," but they forget that 1) assets depreciate over time, and 2) an asset is only worth as much as what someone is willing to pay for it. They forget, or were not told, that the condo is losing money even when sitting there empty, and that when you need $ and want to sell the condo you may not get all your money back, depending on market conditions. [Or they're told that the price of real estate will only go up, in which case they deserve to lose their $ :p] : I am not a graduate from Management College but I do love to read books. Neither am I. : I got to know two financial products about the investment of : real estate. : One is called REITs, Real Estate Investment Trusts, appeared in 1960 in the : USA. The ohter is REAT, which is similar to bonds. If I bore the readers, Like I said earlier, this is available in TW, but I haven't been reading about them for a few years now, I wonder how well they're doing. : feel sorry about it. If the readers are curious about these two products, : please consult others, not me. : I am not a broker, not doing business about it. : Gee, I only got several mintues, and one last thing. : There is something more essential. : Since every man is mortal, no one can avoid the rick of being dead. : So, make sure that your money and investment can be well-managed before the day : comes, which is more practicable, a better way to think over investment. "In the long run, we are all dead." - John Maynard Keynes Lol. : That's it. Not good enough, but I try to complete it in limited time. : Thanks a million for your translation. : High profits accompany high risk. High profit => high risks does not mean high risk => high profit So invest safely! :) -- 'Cause it's a bittersweet symphony, this life Trying to make ends meet, You're a slave to money then you die -Bittersweet Symphony, The Verve --

※ 发信站: 批踢踢实业坊(ptt.cc) ◆ From: 70.166.3.190 ※ 编辑: tengharold 来自: 70.166.3.190 (10/21 07:29)