最近好多報告說美國10年國庫債券好過領匯，短期好似正確，但用歷史圖一比，好似樓市商舖好Ｄ呀。因樓/舖是實物，通賬升實物最後必升，美金是紙一張，通賬必跌。
其實買領匯要當自己買了商舖物業，定期收租，只要CEO管理層非豹狼之輩，10年20年後回望，香港地產商舖物業必定有理想收成，Link仔再選一段投資心法給大家參考 :
正念與無明 [東方盛世－施祖文]
我們今天投進的資金與精力，換來的是一會兒得到回報、一會兒得到虧損，市況（投資產品）的升跌常為我們帶來不安，所為何事？這是因為我們看事物的心態，從時間周期而言過於短促，這也是佛家所說「無明、無耐與無需」的煩惱，實乃世人自找不安的開端，所以我們所需要的是「耐心」。
投資的正念是以公司的前景，去判定我們的投資方向，隨後是監察相關公司的運作。如果公司正常運作、業績合理，我們所得的回報應該是正常的；若然運作與期望不同、業績不當，我們便需要有作出虧損的準備，而這也是投資過程中必須承受的所謂風險。若然得到好的回報，這是我們投進的理念與準備工作得到的報酬。耐心與處變不驚也是對自我的確信。
Reits Vs Bond
Bonds are very sensitive to interest rate fluctuations.
If interest rates rise, the market value of a bond decreases. If the investor must sell at this time, they will receive less than face value. If interest rates fall significantly, the bond is in risk of being called. The investor gets their full value but must then find another investment at a lower yield. Since many REITs are invested in commercial or residential rental properties with fixed mortgages, a rise in interest rates will not significantly impact their profitability. On the contrary, they can push potential home buyers into rentals, thus increasing demand and raising rents.
Inflation reduces the bond owner's buying power. Inflation reduces the buying power of the dollar.
Your bond investment is fixed at the value and yield at which purchased. Inflation eats away at your return. With REITs, inflation driving up the price of housing can also move more people into the rental market. With increasing demand, the REIT can raise rents and profits.
Bond values are fixed, while REIT shares can climb.
As we've stated, the bond you purchase at $5000 will return that amount to you at maturity, with interest. The REIT will also be paying a dividend throughout your period of ownership, as by law they must return 90+% of their operating profits to the share holders. REITs that are operating efficiently can increase their profits through good management or increased rents with higher demand. They can also purchase and sell properties to create profits. Doing these things well results in financial performance that creates more demand for the REIT shares, thus their prices can rise like any normal stock.
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