Daniel, friends, Hello, everyone. Five minutes every day, invest yourself; believe Daniel: Stick to fund investment, we will eventually be rich!
The article, Daniel, introduces the concept and the role of trade index funds, I believe we saw after the fund industry has a certain understanding.
In the last article, we focus on for the next several recommended industry can invest. Please do not worry, the next few days, one by one cow Assembly for friends to do a detailed introduction.
Men fear into the wrong line: How important is the election of the industry?
Today, we start with a look known as "the mother of all trades," said the banking industry.
01. Bank of nature
We know that the main source of profitability of banks is deposits and poor. Then how they make money through savings and loan mechanisms it?
Associate professor of Peking University's Guanghua School of Xiangshuai said bank deposits and poor looks very simple, it is to earn the difference between lending rates and deposit rates. But the mechanism is not simply related to the nature of the bank.
Banks are converted by the scale, duration and risk capital three factors to achieve a more optimal allocation of funds, and earn the interest rate differential.
As an example to illustrate:
There are two villages A and B, A relatively wealthy village, there is a lot of money left hand. B village is vigorously building, currently lack funds hands. How to do? A village of course thought to borrow money. But B village needs more money to get A village house to house to borrow a lot of money to villagers, is very difficult, if you can borrow one time so much just fine. This leads to a problem, the scale of the issue to borrow money.
A village to borrow money to two days instead of one day be able still on, there may be two or three years or even many years. A village therefore also need to worry about their money one day, can not be used with the check. And two villages were not particularly familiar with, people do not know is also hesitant to lend money to another party, there are certain risks. So this leads to questions two and three, which issues related to the duration and risk of borrowing money.
B What a village looking for a middle platform to help them solve the problem of funds size, duration and risk. Ever since, the bank came into being, directly address the three questions above. B in the village of funding problems be resolved smoothly, there should be applause here ~!
02. How banks' earnings?
There you should be familiar slogan: "There is no middleman to make the difference." In fact, the company slogan shouted the phrase itself is a middleman company to feed a large number of people, not the sale of dry loss. Fleece, certainly from which to earn profits.
当然，银行这个中间商也不例外。在上个例子中，比如，A村民以3%的利息收益存入银行，然后银行再以6%的利息贷款给B村，银行从中赚取了3%的存贷差收益。
银行存贷差的利润占净利润的大概3/4左右，其它的收益还包括：手续费及佣金净收入，投资收益，汇兑收益等方面。
银行吸收的存款也会做一些投资来盈利。
比如在国内90%以上的国债都是在商业银行买的，它们会将资金投入到债券等安全性非常高的资产上。
银行还有一部分利润来自于通道业务费用。
比如，银行推出的一些理财产品，大都是其它金融机构和银行进行合作。银行只是一个中间通道，它在其中只是收取一些通道费用。然后理财产品就打着银行的旗号进行销售。
牛大在这里也提醒朋友们，很多银行理财并不是该银行本身推出的，并不会给大家承诺保本，所以存在一定的亏本风险。如果有部分理财向大家承诺高收益，保本保息，朋友们就一定要慎重了！
03. 躺着赚钱的银行
全球最赚钱的五家公司，有四家来自中国！
它们的名字大家想必大家都很熟悉，它们是：工商银行，建设银行，农业银行，中国银行，简称“中农工建”四大行。
2003年到2013年这十年时间，被称为“中国银行业的黄金十年”，这十年也是银行躺着赚钱的十年。
银行躺着赚钱的秘密大致有两个方面：银行的垄断性和经济的高速增长。
其一：以前，在国内金融牌照是很难拿到的，而且对存款利率管控的比较严格。因此银行获取成本非常低，一般在3%左右。
其二：在过去十几年，经济高速增长，投资机会非常多。中小企业发展也非常迅速，会有很多企业借钱。因此贷款利率也越来越高，从5%到百分之十几不等。
银行获取资金成本利率低，放出去的贷款利率高。两者之间的存贷差就是银行躺赚的主要原因。
04. 银行未来的投资价值如何？
在2000年之后国家放松了银行牌照的发放，开始推行银行业的市场竞争。
从2000年的40多家银行，增长到现在达到了4000多家银行，可见银行之间的竞争之大。2013年之后，银行业出现了严重的贫富分化。很多小地方银行都濒临破产，相信大家也都听说过。
由于近几年宏观环境不如前些年，经济增速下滑，导致很多企业贷款意愿降低。所有银行都能躺着赚钱的时代已经过去了！
所以，在牛大每日估值表中，大家可以看到银行估值非常低。
由此可见，银行业具有很强的周期性。大家看银行估值主要依据市净率（PB），市盈率（PE）只是作为辅助参考。
虽然看起来经济处于低谷，但是咱们国家经济增速在世界上还是独树一帜的。相信不久的将来会走出低谷期，到时银行业也必将重现昔日辉煌。
综上所述，当银行处于严重低估时，大家可以拿出部分闲钱进行定投，长期下来会有不错的收益。
相信牛大：一起坚持定投，咱们终将富有！