到地獄之路

Extract from The Asian Wall Journal, 6 Oct. 2006

"The really amazing phenomenon is that, for half a century, his predecessors resisted the temptation to tax and meddle. Though a colony of socialist Britain, Hong Kong followed a laissez-faire capitalist policy, thanks largely to a British civil servant, John Cowperthwaite. Assigned to handle Hong Kong's financial affairs in 1945, he rose through the ranks to become the territory's financial secretary from 1961-71. Cowperthwaite, who died on Jan. 21 this year, was so famously laissez-faire that he refused to collect economic statistics for fear this would only give government officials an excuse for more meddling. His successor, Sir Philip Haddon-Cave, coined the term "positive noninterventionism" to describe Cowperthwaite's approach." --- Milton Friedman 76' Laureate of Alfred Nobel Memorial Prize in Economic Science

當人人逆水行舟免墮深淵時, 總有些人喜歡順水推舟(沉淪)步向地獄.

通往地獄之路由善意(如有)組成 (ibid F. Von Hayek)


**********************

Extract from Lex Column 6 Oct. 2006 The Financial Times

"... ... Investors in listed assets are confronted with the reality of a short-term price slide and they do not like it. Since the natural time frame for private equity investments is in years, fluctuating prices in listed funds were bound to pose a problem for investors with short-term horizons... ...

Private equity partners like the idea of listings because they provide them with permanent capital. But recent experience suggests that fund listings are not the way to go... ..."


是妳嗎? 手執Value 的一個. Partner曾在夢裡, 暗中相約在上市... ... (歌改 [不是大陸股改] 天濛光一首情歌)