Opinión

Sentido y rentabilidad

logo
Sentido y rentabilidad
Rentabilidad y riesgo son dos caras de la misma moneda.

En el campo de la inversión, la rentabilidad y el riesgo van aparejados de forma ineludible. Europa Press

Resumen:

Huelga recordar, pues es por todos bien conocido, que los tipos de interés oficiales a corto plazo fijados por los bancos centrales de todo el mundo desarrollado se encuentran en niveles históricamente bajos. Cercanos a cero cuando no en cero absoluto. Es este un fenómeno de escala mundial que se está produciendo –a pesar de la recuperación que se está iniciando-  tanto en Estados Unidos como en Japón y Europa.

{"ct":"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","iv":"e2940c15e05a7fb620da86fd5028fa1c","s":"12c3cffb3ea0727b"}