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Wolf Street Stimulate Greedness

In: Business and Management

Submitted By vedyvirnata
Words 1041
Pages 5
Tugas Mata Kuliah Keuangan Internasional
Ditulis oleh Vedy Virnata (1306 357642)

Pada film The Wolf of Wall Street, digambarkan bahwa banyak investor melakukan investasi tanpa pertimbangan financial yang baik, tanpa melihat kewajaran risiko dan return yang dihasilkan dari suatu investasi. Hal tersebut terjadi karena kekurangpahaman investor mengenai produk investasinya dan juga ditambah dengan broker, , yang pada saat itu hanya membesar-besarkan keuntungan investasi saham, bahkan dari saham yang tidak ada nilainya pun dibesar-besarkan broker untuk menjadi barang daganan dan mencari keuntungan dari investor yang tidak mengerti. Salah satu broker yang menjadi tokohnya adalah Jordan Belfort dan perusahaan broker-nya Stratton Oakmont, Inc. Lebih jauh lagi perusahan broker tersebut juga ikut terlibat dalam upaya go public sebuah perusahaan dengan tujuan memiliki barang dagangan berupa saham hasil IPO untuk “digoreng” dengan memberikan informasi yang dibesar-besarkan kepada para investor sehingga harga sahamnya menjadi melonjak sangat tinggi dengan tujuan hanya untuk kepentingan pribadi broker untuk menjadi kaya raya dari komisi yang didapatkannya.
Pada film Inside Job, digambarkan kejadian-kejadian yang menyebabkan terjadinya krisis financial pada tahun 2008. Pada intinya krisis tersebut terjadi karena globalisasi financial, yang menyebabkan risiko investasi pada suatu perusahaan investasi keuangan menyebar dan membesar sangat luar biasa ke seluruh dunia dengan dukungan deregulasi sektor keuangan oleh pemerintah dan beberapa pelaku ekonomi yang serakah untuk kepentingan memperkaya diri sendiri dan golongannya saja. Instrumen keuangan dikembangan dengan berbagai teknik keuangan sehingga menyebabkan suatu investasi dapat dikembangkan lebih besar dan jauh lebih luas lagi tanpa memperhatikan bisnis riil dari investasi tersebut sehingga risiko investasi menjadi sangat besar namun tidak dapat terdeteksi dengan jelas oleh para investor sehingga terjadi buble economic atau perekonomian yang terlihat besar dari luar namun kosong di dalamnya. Pada saat salah satu pelaku ekonomi mengalami risiko kegagalan bisnis, dengan perekonomian yang bubble tersebut menyebabkan terjadinya krisis ekonomi global.
Dari kedua film tersebut dapat ditarik benang merah pelajaran bagi para investor yaitu sebagai berikut: 1. Keserakahan manusia adalah faktor utama yang menghancurkan kehidupan manusia di dunia ini, oleh karena itu suatu investasi keuangan harus dilakukan dengan mengenal risiko dan menetapkan target return yang sesuai. 2. Deregulasi pemerintah yang hanya dilakukan untuk kepentingan pribadi atau golongan dan globalisasi ekonomi tanpa batas dapat menimbulkan peluang kreativitas kejahatan ekonomi. 3. Investasi yang sifatnya global atau cross border investment jauh lebih berisiko dibandingkan dengan investasi lokal karena terdapat systemic risk yang lebih luas dan adanya berbagai hambatan dalam melakukan investasi yang baik misalnya keterbatasan informasi pasar dan kondisi politik yang mempengaruhi iklim investasi di suatu negara. 4. Transaksi derivative yang tidak berdasarkan underlying asset jelas merupakan instrumen investasi keuangan yang sangat berisiko baik di perbankan, pasar saham, pasar uang, maupun pasar surat berharga atau obligasi. Transaksi derivative sebaiknya dilakukan bukan untuk investasi yang sifatnya spekulasi namun lebih tepat hanya untuk hedging posisi suatu investasi riil yang telah dimiliki.

No body knows up / down
Investor beli saham kemudian ambil untung riil, so don’t doit, harus dibuat agar investor invest lagi terus-menerus sehingga mereka menjadi tergantung.
Investor capital gain unrealized gain, only in paper
Broker cash, real gain dari komisi
Tanggal 19 Oktober 1987 market US drop (Black Monday), turun hingga 400 bps dalam satu bulan.
Eller Roshchild menutup Wall Street
Jordan Belfort pindah ke Long Island NY, menjadi broker yang menjual penny stock, saham sampah.
Komisi yang diperoleh dari menjual penny stock sangat tinggi hingga 50%, dengan pendapatan broker sebulan mencapai $72.000. Pada saat itu belum ada ketentuan hal tersebut legal atau tidak?
Client trust Broker company Invest Broker fee/commission Investor gain
Jordan Belfort membantu IPO Steve Maden, perusahaan sepatu wanita, kemudian menggoreng sahamnya dari harga $4 per lembar hingga menjadi $8000 per lembar hanya dalam waktu 30 menit.
Jordan Belfort ditangkap karena money laundry

Iceland GDP = $13 Bio
Populasi 320.000 dan Bank loss = $100 Bio
Tahun 2000 terjadi deregulasi, mengijinkan MNC Alcova membuat pabrik alumunium eksploitasi sumber daya geothermal hydroelectric energy sources
Melakukan privatisasi 3 bank terbesar di Iceland, island bank, kaupping, glitnik bank
Dalam 5 tahun hutang bank mencapat $120 Bio atau 10 kali lebih besar dari ekonomi Iceland
Terjadi massive bubble, harga rumah naik lebih dari 2 kali lipat
Jon Asgeir Johannesson pinjam uang milyaran $ ke bank di Iceland untuk bisnis retail di London (Hamleys Toys), beli jet pribadi $40 Juta, yacht, dan Manhattan penthouse $25 Juta.
Bank menawarkan Money Market full sehingga Deposan memindahkan dana depositonya (ponzi scheme)
KPMG audit Iceland tidak menemukan sesuatu yang bermasalah
Februari 2007 Iceland bank mendapat rating AAA
Akhir tahun 2008 Iceland banks collaps menyebabkan pengangguran di Iceland naik 3 kali lipat dalam 6 bulan
September 2008 Lehman Brothers bankrupt, menyebabkan AIG perusahaan asuransi terbesar juga bangkrut sehingga terjadi global crisis, global recession, 30 juta pengangguran dan menambah hutang US.
Sejak tahun 1980 terjadi kebangkitan sektor financial di US yang akhirnya terhadi financial crisis.
Dulu tanpa krisis financial, regulasi keuangan yang ketat, banyak bank local, dilarang spekulasi dengan produk tabungan / deposito, investment bank adalah small private partnership
Morgan Stanley 1972: total pegawai 110, satu kantor, modal hanya $12 juta, saat ini menjadi 50.000 pegawai, modalnya milyaran dollar, dengan kantor cabang di seluruh dunia.
1980 sektor keuanganboong, investment bank go public, people on Wall Street getting rich
Bond Trader Merryl Lynch tahun 1986 menghasilkan pendapatan milyaran US $
1981 CEO Merryl Lynch menjadi Treasury Secretary, Donald Reagen, diangkat oleh presiden Ronald Reagen. WS diawasi presiden
1887 deregulasi saving and loan companies allow to make risky invensment dr uang depositor, Investasinya gagal dan menyebabkan krisis sebesar $124 milyar. S&L fraud
Charles Keating case. 1985 federal investigsi dia, Keating menyewa economist, Allan grenspan, menyatakan rencana bisnis dan pegalamannya dan menyatakan kepada nasabahnya no risk untk investasi, Keatingmembayar $40.000 kepada Greenspan, Keating dipenjara kemudian, AG menjadi gubernur FED diangkat Ronald Reagen.
Deregulasi terus berjalan saat masa Greenspan. Robert Rubin, CEO Goldma Sach, Sec Treasury FED, dan Larry Summers, Hrvard prof,
1990 perekonomian dikuasi oeleh m=beberaoa peruh besar, sakingbesarnya sehingga jika peruh tsh collaps dapat menyebabkan kerusakan pada sistem keuangan dunia. Pada jaman Clinton perush tsb semakin besar,. Bank jika sangat besar dan terjadi sesuatu tau pasti akan ditolong di bail out. Market unstable seperti kapal tanker yang setelah deregulasi kompartemennya di hilangkan sehingga ketika bocor maka kapal taker tsb tenggelam.

Citibank, JP Morgan, dan Merryl Lynch membantu Enron Fraud sebesar $385 Juta…...

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