经济学人双语精读：明晟能否照亮私人市场？

2024年11月5日 文摘

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Schumpeter
熊彼特

Can MSCI drag private markets out of the shadows?
明晟能否照亮私人市场？

  • 明晟（MSCI）是一家股权、固定资产、对冲基金、股票市场指数的供应商，其旗下编制了多种指数。明晟指数（MSCI指数）是全球投资组合经理最多采用的基准指数。

Meet the Nicaraguan revolutionary behind the world’s favourite index supplier
来会一会全球最受欢迎的指数供应商背后的尼加拉瓜革命家

HENRY FERNANDEZ was once a counter-revolutionary. The man who over three decades has built MSCI, a provider of stockmarket indices, into a standard bearer of financial globalisation, started his career as a Nicaraguan diplomat in the government of Anastasio Somoza, a right-wing dictator. While some of his friends flocked to the left-wing Sandinistas ahead of the revolution that toppled Somoza in 1979, he took a look at socialism in eastern Europe and decided it was doomed to fail. Instead, he embraced free-market capitalism and moved to Wall Street.
亨利·费尔南德斯（Henry Fernandez）曾经是个反革命。在历经30多年把股票市场指数供应商明晟打造成金融全球化的标杆之前，他最早是在尼加拉瓜的右翼独裁者阿纳斯塔西奥·索摩查（Anastasio Somoza）的政府里担任外交官。1979年推翻索摩查的革命爆发前夕，他的一些朋友转投左翼的桑地诺解放阵线，而他研究了一番东欧社会主义后认为这种制度注定失败。于是他转投自由市场资本主义的怀抱，搬去了华尔街。

  • bearer （观念、传统等的）传授者，传播者
  • flock 群集、聚集、蜂拥
  • topple 指“推翻、颠覆、打倒”某个政权或某个领导人等，也就是迫使其失去权力或权威，尤其是非民选的政府或领导人（参见：小词详解 | topple）
  • doom 表示“使……注定失败、遭殃、死亡等”（参见：小词详解 | doom）

There he encountered a different revolutionary movement that he has championed ever since: the forward march of capital markets. Starting in the Reagan era, he has played a role in several of the upheavals that have swept the world of finance, from securitisation in the 1980s and the growth of emerging-market investing in the 1990s, to the rise of index tracking and exchange-traded funds (ETFs) this century. He retains an idealistic streak. While many former advocates of environmental, social and governance investing have shied away from the climate-related fad of the past half-decade, he remains a true ESG believer.
在那里，他遇上了另一场革命运动并化身其领军人物至今：资本市场的进军。从里根时代开始，在席卷金融界的多次变局中他都发挥了作用，包括上世纪80年代的证券化和90年代投资新兴市场的热潮，以至本世纪指数跟踪和交易所交易基金（ETF）的兴起。他至今仍保留着理想主义的特质。许多当年支持环境、社会和治理（ESG）投资的人都回避了过去五年里关注气候的风潮，而他依然是ESG的忠实信徒。