渡假屋 既 網上雜誌 要放-暑假-了！yeAh！

快則一、兩星期 恢復出博，慢則一、兩個月，到時再見。

 轉載

英文說明

Facts on the Dow Jones Industrial Average
Futures and Options Contract

Most Widely Followed Stock Index

The Dow Jones Industrial Average (DJIA) is arguably the most widely followed and recognized stock index. The index is made up of a diversified portfolio of 30 top-quality blue chip stocks. Some of the stocks that comprise the DJIA are IBM, Proctor &Gamble, Hewlett Packard, Coca-Cola, Johnson & Johnson, and other well recognized big name companies.

How to Compute the DJIA Contract Value

The cash value of the $10 DJIA futures contract is ten times the Dow Index. For example, if the Dow is at 10,000, the value of the contract is $100,000 (10,000 x $10 = $100,000). For the E-Mini $5 contract, if the Dow is at 10,000, the value of the contract is $50,000 (10,000 x $5 = $50,000). Each point move in the Dow Jones Industrial Average is equal to $10 in the $10 DJIA Futures Contract, and equal to $5 in the DJIA E-Mini Contract. For example, if the Dow moved 50 points in a day, it would be equivalent to $500 in the $10 DJIA futures contract.

Put Up 14 Times Less to Position into the Same

For a margin deposit of $5,400, an individual can participate in all the stocks in the DJIA instead of having to buy around $100,000 dollars of stocks outright. That is around 14 times less money than buying each of the DJIA components separately.

Maximum Leverage

If you bought the stocks outright in the DJIA, the most you could leverage them on margin would be 50%. You would have to post about $50,000+ to participate in the basket of stocks in the DJIA compared to the $6,750 needed to participate in the same stocks with a futures contract. Of course, with greater leverage, the risk of greater loss and opportunity for substantial profit exists.

Multiple Uses Gives Wide Appeal

The DJIA futures contract can satisfy the needs of practically any investor. You can attempt to use the contract for outright speculative gain or to hedge all or part of your investment portfolio. There are numerous trading strategies to accomplish these goals. Consult your broker for more information.

Round-the-Clock Trading

You can trade both the $10 and E-Mini $5 DJIA futures contracts when the stock market closes, almost around the clock!

Please note: The purpose of this report was to give a better understanding of the DJIA Futures contract. Besides using the contract to capitalize on the rise or fall in the Dow, it can be extremely useful in helping hedge an existing stock portfolio. Consult your broker for more information.

 轉載  

每個行業及每種生意及產品與人的壽命一樣，都是具有生命週期，一般都是分為

1. 初始發展階段
2. 高速增長階段
3. 成熟穩定階段
4. 老化式微階段

如果講到股票投資，一些位於初始發展階段公司的業績都是不顯眼或甚至乎比同業較差。當中原因可能是它們需要作大量投資去開闢市場或其置身之市場還未發展成熟。所以，市場所接受這類公司的P/E ratio一般都是較低。

可是，當這些公司一踏入高速增長階段，它們的業績是持續高速增長，財務指標亦會持續改善。由於市場對這些公司充滿樂觀預期，所以市場願意接受這類公司的P/E ratio一般都是較高。

之後，這些公司從高速增長階段逐漸地步入成熟穩定階段，它們的業績增長開始放慢或與大市同步，不過這些公司的現金流和派息穩定，所以市場願意接受這類公司的P/E ratio一般都是與大市或同業同步。

最後，當公司從成熟穩定階段步入老化式微階段，即所謂夕陽工業，徵兆為管理層開始不務正業，而業績便會持續倒退，財務指標亦會持續惡化，所以市場願意接受這類公司的P/E ratio一般都只能較低。

So now we've got our independence
What are we gonna do with it?
Learning to play different games
Already using different names
Cause now our love bears no resemblance
To what we had before
When our love was good it was all that we saw
When our love was good it blinded us before
This real revolution baby
Where you're not below me anymore

Never never love can never be enough
Never be enough, just ain't good enough
Never never love can never be enough
Never be enough, oh no

So now we've got our independence
What are we gonna do with it?
Building the houses, claiming back the land
Burning the bridges, cleaning up your hands
Cause now our love bears no resemblance
To what we had before

Now our love has something for the future
Now our love will grow the seeds to sow this real revolution
This good revolution baby
Where you're not below me anymore...

You make me feel brand new by Simply Red~

http://www.nowok.net/Music/1b28a36bacbbfecb.shtml

老草講A股市場興衰起落： 

『A股市場成立至今不過十八年，但A股市場已經歷咗五輪熊市與牛市輪迴。將A股歷史走勢與美國、香港股市比較，可清楚地睇到A股作為新興市場，相對成熟市場嘅波動劇烈得多。

第一輪牛熊輪迴發生响1990年底至92年11月，上證指數從100點起步，迅速暴漲到最高1429點，好快又跌至386點。

人生與命運 原是一天百變
成敗有如一個轉面 莫記當年
就算甘願平淡過一生 或者遲早心中有悔
有日我欲語無言 那現實何嘗改變
難拋棄夢幻 無奈講聲再見
明白到埋首怕見現實 未免可憐
讓我今後面對名共利 或者遲早心灰意冷
有日我若再回頭 笑望著人寰轉變  

MV 是關正傑主唱，哥哥主唱的 mp3 在下面連結：

http://www.mtv123.com/mp3/11140/126671.shtml

我讀到七月八日星期二的美國新聞 (東岸時間 11:24am)

鄧普頓死於肺炎，享年95歲。

阿根廷的著名景點莫雷諾冰川 Perito Moreno Glacier，一向被譽為世上少有，沒有因為全球暖化而變小的冰川，但冰川最近在冬季亦出現崩塌。在阿根廷南部冰川國家公園的莫雷諾冰川，當地正是冬季，莫雷諾冰川在冬季崩塌的現象極之罕見，很多遊客都來觀賞一下。冰川大面積崩塌，由上星期五早上開始，形成一條壯麗的冰橋。

莫雷諾冰川對上數次大規模崩塌分別發生在一九八八、二零零四及零六年，全部都是二至三月當地夏季期間，對上一次冬天期間崩塌，已經是一九一七年。

當地官員表示，是全球暖化導致今次現象，因為數據指一九八八年之前，每四年才會有一次大型崩塌，但近年氣溫遂漸上升，變成約兩年崩塌一次。不過多位科學家卻認為，可能是冰川的排列出現變化引致，未必和氣候溫化有關。

莫雷諾冰川所在的南巴塔哥尼亞冰原，闊三公里、深二百平方公里，位處阿根廷湖，把湖一分為二，是少數沒有因為全球暖化而縮小的冰川。原因是阿根廷湖旁邊的一個半島，阻慢了冰川移動的速度，令冰川可以累積厚厚冰雪。

阿根廷科學家預測說，由於氣候變暖帶來的惡劣影響，位於該國南部聖克魯斯省的南巴塔哥尼亞冰原有可能在本世紀內消失。

科學家說，自1930年以來，該冰川雪線已經萎縮了一公里，原本在山谷裡能看到的冰舌已經完全不見了。南巴塔哥尼亞冰原面積由兩塊冰川組成，僅次於格陵蘭和南極，是世界第三大陸地冰原。專家警告說，目前南極半島上很多冰架正向海面下滑，預計到2100年，將導致海平面上升20至60釐米。