Sometimes the most obvious trades are the best. An investor buying the Hang Seng Property Index at the beginning of this year, reasoning that prices would be buoyed by strong Chinese demand and ultra-low interest rates imported through the US dollar peg, would be sitting on a 17 per cent gain. If that same investor then sold Shanghai property stocks, on the understanding that Beijing would intensify measures to keep prices in check, he or she would have dodged a 25 per cent fall, nearly three times worse than the benchmark.
有时候，最明摆着的交易就是最好的交易。如果一名投资者认定香港房价将受到manbetx3.0 强劲需求和联系汇率制导致的超低利率的提振，而在今年年初买入恒生地产指数，今天将坐收17%的涨幅。同样是这名投资者，如果他或她认定manbetx3.0 政府将强化措施抑制房价，而抛出上海股市的地产股，将因此躲过25%的跌幅（比大盘跌幅高出近3倍）。
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