Category: Money tips Release Date: 2006-07-17
Americans own more than one trillion U.S. dollars in household financial assets, including 3-4000000000000 U.S. dollars deposited in commercial banks, 10 trillion or more, either directly or indirectly through pension funds, corporate pension or insurance funds for investment (of which 8 to 9 trillion invested in mutual funds of all types above), about 50% of U.S. households to benefit from the Fund's investments. At the same time, Chinese people also have more than ten trillion yuan in household financial assets, of which more than 90% deposited in commercial banks, only 10% in equities, insurance, funds and various investment plans. Of which the proportion of investment funds and even less than 2%, benefiting from the investments of the Fund and 2% of Chinese households do not.
Why is such a huge difference in Sino-US domestic financial investment and the poor? Some people say that is because the Chinese history, culture, personality, were too conservative, afraid to invest in, unlike the Americans dare to deficit spending as investments or borrowing. However, by contrast we found that the Chinese direct investment in equities than indirectly through the Fund, a much larger proportion of investment in shares (the number of shareholder accounts of the Fund accounts for 20 times), the Chinese people to participate in gambling or a free hand to try asking for a Bo The number and proportion of a lot more than the Americans, the Chinese people are buying lottery gambling fortunes of a number of people than even we still need more investment funds. Since the Chinese people have a very small probability of profitable stock games, gambling games can boldly venture participation, how can you say that he was too conservative, afraid of risk? Zhuang Zai and courageous Chinese people. In shopping malls, they advocated "爱拼才会?quot; in investment, they dare to "love to gamble would win."
It was explained that because of China's social security system and the commercial insurance system is not perfect, so that people may not have chosen to bank deposits. Of course, China's enterprise supplementary pension insurance and pension insurance system had just been established, not only small, and there is no effective investment is a tremendous and historic debts. However, China's various types of insurance company profit-sharing type, return type or connection-based insurance, investment is actually very tempting, and many of the provisions are appropriate insurance products, many American can not be compared. As a substitute for the historical debts, both taking into account insurance and are taking into account investment, why are not people like? Even insurance agents smooth-tongued, I would not move from the stand rock-firm. On the other hand, the insurance regulatory authorities because of concerns about insurance business risks, some of the provisions are too often halted preferential insurance products. It seems that in the minds of most people, the commercial insurance through a negative impression far beyond the rational analysis to derive a positive evaluation.
Another argument is that China's investment market, particularly the stock market is too irregular, Change disorder, leading to lose you earn less, so people afraid to invest. In fact, despite the U.S. stock market due to different stages of development, indeed regulate the degree of maturity is different. However, the market alone, the magnitude and frequency of the ebb and flow there was no significant difference. On non-systematic risk is, let's Guangxia China, Yiankeji incident, the U.S. also has the Enron, WorldCom case. The systemic risk is concerned, let's Chinese state-owned shares the impact of macroeconomic regulation and control the impact of the United States also has 911 and the oil shocks. Moreover, it is precisely because the non-effectiveness of China's securities market, precisely to provide expert investment through the possibility of access to excess investment income. Buffett's company set up by the Americans annual compound growth of 22% or more of the investment performance, creating the world's richest man, a miracle, the U.S. mutual fund managers to create an average of 10% of the annual average rate of return. China's fund managers, since 2001 there has been an open-end funds, all 100 or more a year investment performance history, active funds have made more than 10% of annual compounded rate of return on investment, of which 1 / 3 also obtained more than 20% annual compound rate of return comparable to Buffett ah, 100% of funds have achieved more than 15% of the baseline excess rate of return. (Send
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