「金」「不動産」は保険
Faber likes cash, says real estate and emerging markets equities to outperform
BY TIMOTHY POLLARD | JULY 23, 2015 4:02 PM | UPDATED 4:04 PM
Marc Faber railed against central bank intervention around the globe and said he likes cash now because it “gives you flexibility to buy assets” when bubbles pop.
世界的な金融緩和のなか、キャッシュが一番だ。キャッシュをホールドしておけば、暴落時にバーゲンハンティングできるのが理由。
As he noted at the same event last year, Mr. Faber said all asset markets are overvalued, with few exceptions. “Different asset classes will be touched at different times,” he said, and ample amounts of cash on hand are necessary to take advantage when opportunities occur.
資産価格は例外を除いて割高。幕間つなぎの相場が続いているだけ。
Falling interest rates driven by central bank intervention have not improved economic conditions, he said. Instead, median household income in the U.S. has fallen, income inequality has exploded and the working and middle classes are struggling in terms of real wages, he added.
金融緩和で経済は好転していない。米国のメディアン(中間値)にある家計の所得水準は下がっている。貧富さは拡大し、実質賃金は低迷し、労働者・中間層は苦しんでいる。
Low rates have benefited earnings as U.S. corporations have been able to refinance at historically low levels. And the U.S. market advance, which has been driven largely by stock buybacks, has made U.S. equities expensive, he said.
In terms of investment ideas, he thinks real estate and emerging markets equities will outperform U.S. equities over the next five to 10 years. And in particular, he said Indochina — including Vietnam, Cambodia, Thailand and Laos — is the most promising region for investment over the next 30 years.
不動産と新興国株式は5-10年タームで米国株のパフォーマンスを上回るだろう。特に、インドシナが良い。ベトナム、カンボジア、タイ、ラオスは30年タームで一番良いとおもう。
“In the absence of war, the area will be very attractive,” he noted.
戦争さえなければ、この地域はとても魅力がある。
Mr. Faber said he thinks the lifting of the Iranian embargo will strengthen the Iraqi Shiite population in the southern region of the country near the oil fields. He said while Iran has a stock market, it is not easy to access and suggested the more-accessible Iraqi stock market will serve well as a proxy for the lifting of the sanctions.
イランへの経済制裁は終了したが、イラン株はアクセスが困難。その代用になるものに投資するしかないだろう。
Bonds, he said, are the most-hated asset class now. But he would rather own U.S. Treasuries that currently have higher yields than some European sovereign debt. U.S. Treasuries will serve as a portfolio diversifier should the global economy enter a recession and equity values fall, he said.
債券は最悪。キャッシュとして短期債だけ保有している。
And of course, given his bearish stance, Mr. Faber recommended holding gold in a portfolio — his recommended allocation is 25%.
金はポートの25%ほど組み入れている。
“Gold is insurance if the banking system fails,” he said. “As an investor I’d like to own something outside the banking system, and that includes real estate, art and gold.”
金は銀行システムが崩壊したときの保険だ。銀行システム崩壊時に備えて、不動産も良いだろう。
民主党という売国勢力
こいつには投票しないで下さい。本当に情けないです。こいつは、「クイズ王」の小西です。
これは民主主義なんでしょうか?選挙で勝負するのが民主主義でしょ?
来年夏の参議院選挙では、民主党議員、そして自民党でも野田など信用出来ない連中には投票しないことです。
安倍首相を17回も指差す小西。
やはり、朝鮮のみ。