理财周报记者 腾晓萌

Financial weekly reporter who XiaoMeng

　　据说，最新的货币政策定调是：2013年新增信贷投放目标定在8.5万亿元左右，广义货币(M2)目标增速定为13%左右。

It is said that,The latest monetary policy is pitch:In 2013 the newly added credit availability target at 8.5 trillion yuan,Broad money(M2)Target for 13% growth.

　　对于有的人而言，这一数字足够令房价在上涨一轮；而对于有的人而言，这样的数字还远远不够。

For some people,The digital enough to house prices on the rise round;For some people,This number is far from enough.

　　一个月前，我请教一位业绩不错的固定收益总监，2013年会不会有传说中那样宽松的货币？

A month ago,I consult a performance good fixed income director,2013 won't have a legend that easy monetary?

　　他说，今天来路演的券商都是这么说的，他们都很乐观啊。

He said,Today to road shows brokers are says so,They are very optimistic ah.

　　当时，所有的乐观都紧紧系于一句话：中央经济工作会议说，要降低全社会融资成本。

At that time,All the optimistic are closely attached to a word:The central economic working conference said,The whole society to reduce financing cost.

　　那位固定收益总监说，好多券商都觉得，降低社会融资成本，就是要降息；如果要防范区域金融风险，显然就是要继续容忍城投融资。

The fixed income director said,A lot of brokers all feel,Reduce social financing cost,Is to cut interest rates;If you want to guard against the risk of regional finance,Obviously is to continue to tolerate city investment and financing.

　　多年以来已成习惯，我们总是在各种文字的空隙中，去寻找和猜测真相，为之喜悦、愤怒或悲伤。

Over the years has become a habit,We are always in all kinds of characters in the space,To find and guess the truth,For the joy of/Anger or sadness.

　　但是你看到的，首先是他们希望让你看到的部分。当每一个短短的150字直指人心，春秋大义之下，事实如何，似乎都不值得再被推敲。

But you can see,The first is they want to let you see the part.As each short 150 words directed at the heart,In spring and autumn period under,The fact how to,Seems to be not worth to be deliberate.

　　就如一桩万众瞩目的交易，到底是否能够完成，有时并不取决于合规与否，是否有神秘大鳄出没；而更多取决于，谁想促成这件事，而还有谁想分一杯羹。

Just like pile eye-catching trading,Whether can accomplish,Sometimes does not depend on the compliance or not,If there is a mysterious and big alligator;And more depends on,Who wants to make that happen,And who else want to a slice of this action.

　　有时候，他们说的太诚恳悲情，以至于你也不再想知道，理想、道德乃至法律之后，多少仍有谎言、心机、交换和妥协。

sometimes,They say the tragedy is sincere,So that you will no longer want to know,ideal/Moral and legal later,How many there are still lies/scheming/Exchange and compromise.

　　即便在那些最冷静克制乃至枯燥无趣的叙述中，你也只会看到你想要的那个部分。

Even in the most calm restraint and boring in the narrative,You will only see you want the part.

　　比如这个冬天，很多公司内部为设立子公司爆发了不大不小的争吵。同样一份短短的关于基金公司设立资产子公司的规定，同样遍访PE、信托和券商；有的人看到规模增加，有的人看到利润不高，有的人看到人才缺乏，有的人看到风险很大。

Such as the winter,Many companies to set up subsidiaries within an outbreak of the little quarrel.Also a short of fund company the establishment of an asset of the provisions of the subsidiary,Also visited PE/Trust and securities;Some people see scale increase,Some people see profit is not high,Some people see the lack of talents,Some people see the risk is very big.

　　很快你将看到下一批的子公司名单。但是你不会看到的是，很多基金公司只是本能地先试水拿一块牌照，实质业务的开展、风险暴露与处理，仍然处于混沌状态。

Soon you will see a group of subsidiary list.But you won't see,A lot of fund company just instinctively to test the waters with a licence,Substantial business development/Risk exposure and processing,Is still in a state of chaos.

　　但是毫无疑问的是，我们仍然足以区分恶意与善意，讨论与阴谋。就像一位朋友对我说，某一家基金是否有问题？为何和他们吃饭时，大家总要把公司所有其他部门都骂一遍呢？

But there is no doubt,We still enough to distinguish malicious and good faith,Discussion and plot.As a friend said to me,A fund if there is a problem?Why to eat with them,We always put the company all other departments scold again??

　　你知道我说的是哪一家。当我们感叹这个行业新公司层出不穷、新进人员普遍资历不足、基金经理平均年限不超一年时，有的基金公司则正在为老人太多而头疼。当一群能力很强的人聚在一起，他们总是要花很长的时间来争论：我们到底谁说了算？

You know what I said is which one.When we sigh the industry new company emerge in endlessly/New staff is general lack of qualifications/Fund managers average life not in than,Some fund companies are for the old man too much and have a headache.When a group of man of great ability together,They always have to spend a long time to debate:We who have the final say?

　　一位曾经考虑去那家公司工作的朋友说，你知道吗，已经有三派了。螳螂捕蝉，黄雀在后。我现在不会去那里。

A once thinking of going to the company work friend said,You know what?,There have been three sent.Mantis catch cicada,Tarin in.Now I won't go there.

　　实际你可以更简单一些，正如我一位朋友所引用的海子：风后面是风，天空上面是天空，道路前面还是道路。

Actually you can be more easy,As I am a friend of haizi cited:The wind is the wind behind,The sky is the sky above,In front of the road or road.