: 任何人都得資產配置，但不一定要配置股債，你想股房、股現也行啊
: 只是強調現在配置債券不是一個理想的作法
: 要穩定性放定存現金都可以，不一定要配置一個會波動，有匯差的東西
如果是談要配股債，還是要配股現
對於機構投資人來說，There is no alternative.
持有現金 0.1%，持有5年債 1.24%。
如果利率環境一年後完全不變，展望也不變，持有現金觀望就是虧了1.7%
(考慮到roll-down，如果一年後利率不變，steepness也不變
持續維持5年maturity的yield會比1.24%再高一點，1.8%左右)
一年後利率會不會漲?
如果相信利率漲跌的機率已經 priced in
持有現金觀望就是賭自己猜得比市場準
目前的steepness在短端並沒有非常異常
(
)
機構並沒有強烈理由要持有現金觀望
長端倒是輕微反轉了
===
以個人的小額現金來說
可能還可以找到1%利率，甚至再高一點
持有現金的機會成本比較低
想要拿現金繼續觀望，也許也是合理的
--
You got to know when to hold 'em, know when to fold 'em, Know when to walk away and know when to run.
You never count your money when you're sittin' at the table. There'll be time enough for countin' when the dealin's done.
'Cause ev'ry hand's a winner and ev'ry hand's a loser, And the best that you can hope for is to die in your sleep."
now Ev'ry gambler knows that the secret to survivin' Is knowin' what to throw away and knowing what to keep.
--
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※ 文章網址: https://www.ptt.cc/bbs/Foreign_Inv/M.1636881632.A.DD0.html機構並沒有強烈理由要持有現金觀望
長端倒是輕微反轉了
===
以個人的小額現金來說
可能還可以找到1%利率，甚至再高一點
持有現金的機會成本比較低
想要拿現金繼續觀望，也許也是合理的
--
You got to know when to hold 'em, know when to fold 'em, Know when to walk away and know when to run.
You never count your money when you're sittin' at the table. There'll be time enough for countin' when the dealin's done.
'Cause ev'ry hand's a winner and ev'ry hand's a loser, And the best that you can hope for is to die in your sleep."
now Ev'ry gambler knows that the secret to survivin' Is knowin' what to throw away and knowing what to keep.
--