Dinero por nada.
Author | Brown, Greg |
Grande Expectations Por Karen Blumenthal Crown Business US$24.95
¿Existe algo más incomprensible que la bolsa de valores? Los fondos de cobertura se cotizan actualmente por encima de los préstamos hipotecarios riesgosos que fueron comprados en paquetes de inversiones. Las pérdidas serán extensivas a las pensiones y a los fondos mutuales en algún momento, lo que probablemente conducirá a la reglamentación de la industria de los fondos de cobertura.
[ILUSTRACIÓN OMITIR]
Pero eso no es nuevo. Por supuesto, la cantidad de los llamados expertos puestos en evidencia es legendaria. Desde hace mucho tiempo hemos estado fascinados con la idea del dinero fácil: desde acciones en tecnología hasta tulipanes, de Wall Street a Main Street. Es más, la parte más ignorada del mercado, al menos hasta la década de los ochenta, es la de más fácil comprensión. Si compramos un bono corporativo, le estamos prestando nuestro dinero a alguna compañía, dinero por el que nos pagarán con intereses fijos establecidos públicamente. "Ah, pero el dinero verdadero", nos dice en discreta confidencia nuestro corredor de bolsa como si se tratara de un secreto, "está en las acciones".
En Grande Expectations, Karen Blumenthal retoma esta idea y la ilustra claramente dándole seguimiento, durante 12 meses, a una sola acción, la de la cadena de cafeterías Starbucks. Karen asiste a las confabulaciones de los accionistas; se sienta con los comerciantes, los analistas y los administradores de fondos; se toma un café con viudas de inversionistas y hasta con los gerentes de Starbucks. Habla tanto de la historia íntima del multimillonario presidente de Starbucks, Howard Schultz, como de los espumosos cafés. Pero lo que en realidad persigue Karen Blumenthal es saber por qué las acciones suben y bajan durante el año.
La breve respuesta sería: porque hay más o menos personas que compran o venden sus acciones. La verdad no dicha acerca de invertir es que el dinero nunca se "pierde". Si alguien compra una acción que está cayendo, algún otro comprará esa misma acción con...
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