2022 will _老虎社区_美港股上老虎

2021-12-30

2022 will be still good

2021 Year in Review: A Very Good Market for Mega-Cap Stocks... But Not Much Else<blockquote>2021年回顾：大盘股的一个非常好的市场……但没有太多其他的</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":692360474,"tweetId":"692360474","gmtCreate":1640850799974,"gmtModify":1640850800089,"author":{"id":4101978790494150,"idStr":"4101978790494150","authorId":4101978790494150,"authorIdStr":"4101978790494150","name":"phongy 45","avatar":"https://static.tigerbbs.com/f6f41e543307358288f75d55fe347ad2","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":7,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>2022 will be still good&nbsp;</body></html>","htmlText":"<html><head></head><body>2022 will be still good&nbsp;</body></html>","text":"2022 will be still good","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/692360474","repostId":1190455875,"repostType":4,"repost":{"id":"1190455875","kind":"news","pubTimestamp":1640849654,"share":"https://www.laohunote.com/m/news/1190455875?lang=zh_CN&edition=full","pubTime":"2021-12-30 15:34","market":"us","language":"en","title":"2021 Year in Review: A Very Good Market for Mega-Cap Stocks... But Not Much Else<blockquote>2021年回顾：大盘股的一个非常好的市场……但没有太多其他的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190455875","media":"Realmoney","summary":"We will soon be seeing numerous news stories about how the stock market had a fantastic year. These ","content":"<html><head></head><body>We will soon be seeing numerous news stories about how the stock market had a fantastic year. These stories will cite a 30% gain in the S&amp;P 500 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> 100 and a 20% gain in the DJIA. Stocks such as <a href=\"https://laohu8.com/S/AAPL\">Apple</a> (AAPL) , which is up around 40%, will be offered as examples of what a fine year it has been.<blockquote><html><head></head><body>我们很快就会看到许多关于股市如何度过美好的一年的新闻报道。这些故事将引用标普500和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>道琼斯上涨 100% 和 20%。股票如<a href=\"https://laohu8.com/S/AAPL\">苹果</a>(AAPL) 上涨了约 40%，将作为今年表现良好的例子。</body></html></blockquote>These sorts of returns are great news for portfolios that are tied to the performance of big-caps and the senior indexes. Many retirement and 401(k) accounts have allocation options that benefited greatly from this strong performance.<blockquote>对于与大盘股和高级指数表现挂钩的投资组合来说，此类回报是个好消息。许多退休和 401(k) 账户都有分配选项，从这种强劲的表现中受益匪浅。</blockquote>However, the big story this year isn&#39;t how well the indexes have performed -- it&#39;s how much they failed to reflect what was really going on in the broader market. <a href=\"https://laohu8.com/S/JE\">Just</a> 10 stocks are around 30% of the weight of the S&amp;P 500, and 25 stocks are close to half. These stocks did well, and therefore the indexes did very well.<blockquote>然而，今年的大新闻不是指数的表现有多好，而是它们在多大程度上未能反映更广泛市场的真实情况。<a href=\"https://laohu8.com/S/JE\">刚刚</a>10只个股在标普500权重的30%左右，25只个股接近一半。这些股票表现良好，因此指数表现非常好。</blockquote>The indexes are essentially a specific asset class of very large-cap stocks, and that asset class had a very good year. If we dig deeper, though, the picture is not quite as attractive.<blockquote>这些指数本质上是大盘股的特定资产类别，该资产类别今年表现非常好。然而，如果我们深入挖掘，这幅画就没那么吸引人了。</blockquote>If you look only at stocks that are trading under $20 then 50% are down 20% or more from highs. 63% of stocks under $10 are down 20% or more.— James DePorre (@RevShark) December 29, 2021One of the easiest ways to see how the indexes have overstated the performance of the broader market is to look at returns produced by U.S. equity funds. According to <a href=\"https://laohu8.com/S/TST\">TheStreet</a>, close to 85% were trailing the S&amp;P 500 as of the end of November, and that had probably declined in December when secondary stocks were hit hard once again. On Tuesday <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> stated, &#34;if you take the year-to-date total return of the Goldman Sachs Hedge Fund VIP basket and you triple it, you still fall short of the S&amp;P 500.&#34;<blockquote>如果你只看交易价格低于20美元的股票，那么50%的股票从高点下跌了20%或更多。63% 低于 10 美元的股票下跌 20% 或更多。— James DePorre (@RevShark) 2021 年 12 月 29 日了解指数如何夸大大盘表现的最简单方法之一是查看美国股票基金产生的回报。根据<a href=\"https://laohu8.com/S/TST\">街道</a>截至 11 月底，近 85% 的股票落后于标普500，而 12 月份二级股票再次遭受重创时，这一数字可能已经下降。星期二<a href=\"https://laohu8.com/S/GS\">高盛</a>声明称：“如果你把高盛对冲基金 VIP 篮子今年迄今为止的总回报率增加两倍，你仍然低于标普500。”</blockquote>Another illustration of how poor the market has been for stocks other than mega-caps is that nearly 60% of all stocks are below their 200-day simple moving average of price.<blockquote>除了大盘股之外，市场有多么糟糕的另一个例子是，近 60% 的股票都低于 200 天简单移动平均价格。</blockquote>The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market. That is 42.9% of all stocks, yet the indexes are currently close to all-time highs.<blockquote>熊市普遍接受的定义是当一只股票比其高点低20%时。目前，总共8,433只股票中有3,616只处于熊市。这占所有股票的 42.9%，但指数目前接近历史高点。</blockquote>There are a tremendous number of stats that illustrate the two-tiered nature of the market in 2021, but they will garner little attention because the indexes are the easy headline and they appeal to most of the financial media and traditional Wall Street.<blockquote>有大量统计数据说明了 2021 年市场的两级性质，但它们很少受到关注，因为这些指数很容易成为头条新闻，而且对大多数财经媒体和传统华尔街都有吸引力。</blockquote>The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market.<blockquote>熊市普遍接受的定义是当一只股票比其高点低20%时。目前，总共8,433只股票中有3,616只处于熊市。</blockquote>For the majority of stocks, the market topped in February and has fallen into bear markets over the last nine months. A frenzy of social media trading marked the February top when stocks such as <a href=\"https://laohu8.com/S/GME\">GameStop</a> (GME) and <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> (AMC) were pushed higher due in part to short-squeezes as well as the coordinated traders on Reddit and in Discord chat rooms.<blockquote>对于大多数股票来说，市场在二月份见顶，并在过去九个月陷入熊市。社交媒体交易的狂热标志着二月份的顶峰，当时股票等<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>（GME）和<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>(AMC) 被推高，部分原因是空头挤压以及 Reddit 和 Discord 聊天室上的协调交易者。</blockquote>These traders continued to aggressively push various trades, mostly in small-caps and thinly traded stocks, but the ability to create sustained movement quickly diminished, and those that had been promoting the holding of stocks with &#34;diamond hands&#34; eventually gave up.<blockquote>这些交易员继续积极推动各种交易，大多是小盘股和交易量稀少的股票，但创造持续走势的能力很快减弱，那些一直在推动用“钻石手”持股的人最终放弃了。</blockquote>This dynamic and the loss of many newer and small traders who were using stimulus money to trade was part of what hurt many of the secondary stocks and small-caps, but another major issue this year was the flood of special purpose acquisition companies or SPACs.<blockquote>这种动态以及许多使用刺激资金进行交易的新交易者和小交易者的损失是损害许多次级股票和小盘股的部分原因，但今年的另一个主要问题是特殊目的收购公司或 SPAC 的涌入。</blockquote>In 2021, more than 600 SPACs IPO&#39;ed and raised over $160 billion in capital. Many of these SPACs had less than stellar fundamentals, but they attracted speculators that were protected by the $10 redemption. It was easy to sponsor and sell a SPAC at $10 if it could be redeemed at that same price at some point.<blockquote>2021年，超过600家SPAC首次公开募股，筹集了超过1600亿美元的资金。其中许多 SPAC 的基本面并不理想，但它们吸引了受到 10 美元赎回保护的投机者。如果SPAC可以在某个时候以同样的价格赎回，那么以10美元的价格赞助和出售SPAC是很容易的。</blockquote>A significant number of SPACs are trading at their lows and have taken capital from other speculative sectors.<blockquote>大量 SPAC 的交易价格处于低点，并从其他投机行业吸引了资金。</blockquote>There are more than 570 SPACs still looking for a deal, and around 90 have already been liquidated. Even when a SPAC has found a deal, many have traded very poorly as the $10 redemption price disappears and those that are holding PIPE shares try to recover some capital.<blockquote>超过 570 家 SPAC 仍在寻求交易，其中约 90 家已被清算。即使 SPAC 达成交易，随着 10 美元的赎回价格消失，许多人的交易也非常糟糕，而那些持有 PIPE 股票的人正试图收回一些资本。</blockquote>SPACs sucked up a tremendous amount of capital during the year, and their poor performance is a big part of why so many smaller stocks have acted poorly as well. Not only are there are a significant number of SPACs that are trading at their lows, but they have taken capital from other speculative sectors.<blockquote>SPAC 在这一年中吸收了大量资本，它们的糟糕表现是许多小型股票也表现不佳的一个重要原因。不仅有大量 SPAC 处于低点交易，而且它们还从其他投机行业吸引了资本。</blockquote>Two sectors that have suffered greatly from this lack of liquidity in 2021 are biotechnology and cannabis. Both are trading close to their lows and have substantial losses for the year. Overall there are around 2,700 stocks or 32% of all stocks, within 10% of their 12-month lows.<blockquote>2021 年，生物技术和大麻这两个行业因流动性缺乏而遭受重创。两家公司的交易价格均接近低点，今年均出现大幅亏损。总体而言，约有 2,700 只股票，占所有股票的 32%，处于 12 个月低点的 10% 以内。</blockquote>Be prepared for the stories about how well the market did this year, but the truth is that there is <a href=\"https://laohu8.com/S/AONE.U\">one</a> asset class that did very well, and that is mega-cap stocks. The broader market had a very tough go of it in 2021, but you would not know it unless you did some digging.<blockquote>请准备好了解今年市场表现如何的故事，但事实是<a href=\"https://laohu8.com/S/AONE.U\">一</a>表现非常好的资产类别是大盘股。2021年，更广泛的市场经历了非常艰难的时期，但除非你做一些挖掘，否则你不会知道。</blockquote></body></html><blockquote></blockquote>","source":"lsy1619508253632","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2021 Year in Review: A Very Good Market for Mega-Cap Stocks... But Not Much Else<blockquote>2021年回顾：大盘股的一个非常好的市场……但没有太多其他的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2021 Year in Review: A Very Good Market for Mega-Cap Stocks... But Not Much Else<blockquote>2021年回顾：大盘股的一个非常好的市场……但没有太多其他的</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nRealmoney2021-12-30 15:34\n\n</h4>\n</header>\n<article>\n<html><head></head><body>We will soon be seeing numerous news stories about how the stock market had a fantastic year. These stories will cite a 30% gain in the S&amp;P 500 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> 100 and a 20% gain in the DJIA. Stocks such as <a href=\"https://laohu8.com/S/AAPL\">Apple</a> (AAPL) , which is up around 40%, will be offered as examples of what a fine year it has been.<blockquote><html><head></head><body>我们很快就会看到许多关于股市如何度过美好的一年的新闻报道。这些故事将引用标普500和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>道琼斯上涨 100% 和 20%。股票如<a href=\"https://laohu8.com/S/AAPL\">苹果</a>(AAPL) 上涨了约 40%，将作为今年表现良好的例子。</body></html></blockquote>These sorts of returns are great news for portfolios that are tied to the performance of big-caps and the senior indexes. Many retirement and 401(k) accounts have allocation options that benefited greatly from this strong performance.<blockquote>对于与大盘股和高级指数表现挂钩的投资组合来说，此类回报是个好消息。许多退休和 401(k) 账户都有分配选项，从这种强劲的表现中受益匪浅。</blockquote>However, the big story this year isn&#39;t how well the indexes have performed -- it&#39;s how much they failed to reflect what was really going on in the broader market. <a href=\"https://laohu8.com/S/JE\">Just</a> 10 stocks are around 30% of the weight of the S&amp;P 500, and 25 stocks are close to half. These stocks did well, and therefore the indexes did very well.<blockquote>然而，今年的大新闻不是指数的表现有多好，而是它们在多大程度上未能反映更广泛市场的真实情况。<a href=\"https://laohu8.com/S/JE\">刚刚</a>10只个股在标普500权重的30%左右，25只个股接近一半。这些股票表现良好，因此指数表现非常好。</blockquote>The indexes are essentially a specific asset class of very large-cap stocks, and that asset class had a very good year. If we dig deeper, though, the picture is not quite as attractive.<blockquote>这些指数本质上是大盘股的特定资产类别，该资产类别今年表现非常好。然而，如果我们深入挖掘，这幅画就没那么吸引人了。</blockquote>If you look only at stocks that are trading under $20 then 50% are down 20% or more from highs. 63% of stocks under $10 are down 20% or more.— James DePorre (@RevShark) December 29, 2021One of the easiest ways to see how the indexes have overstated the performance of the broader market is to look at returns produced by U.S. equity funds. According to <a href=\"https://laohu8.com/S/TST\">TheStreet</a>, close to 85% were trailing the S&amp;P 500 as of the end of November, and that had probably declined in December when secondary stocks were hit hard once again. On Tuesday <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> stated, &#34;if you take the year-to-date total return of the Goldman Sachs Hedge Fund VIP basket and you triple it, you still fall short of the S&amp;P 500.&#34;<blockquote>如果你只看交易价格低于20美元的股票，那么50%的股票从高点下跌了20%或更多。63% 低于 10 美元的股票下跌 20% 或更多。— James DePorre (@RevShark) 2021 年 12 月 29 日了解指数如何夸大大盘表现的最简单方法之一是查看美国股票基金产生的回报。根据<a href=\"https://laohu8.com/S/TST\">街道</a>截至 11 月底，近 85% 的股票落后于标普500，而 12 月份二级股票再次遭受重创时，这一数字可能已经下降。星期二<a href=\"https://laohu8.com/S/GS\">高盛</a>声明称：“如果你把高盛对冲基金 VIP 篮子今年迄今为止的总回报率增加两倍，你仍然低于标普500。”</blockquote>Another illustration of how poor the market has been for stocks other than mega-caps is that nearly 60% of all stocks are below their 200-day simple moving average of price.<blockquote>除了大盘股之外，市场有多么糟糕的另一个例子是，近 60% 的股票都低于 200 天简单移动平均价格。</blockquote>The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market. That is 42.9% of all stocks, yet the indexes are currently close to all-time highs.<blockquote>熊市普遍接受的定义是当一只股票比其高点低20%时。目前，总共8,433只股票中有3,616只处于熊市。这占所有股票的 42.9%，但指数目前接近历史高点。</blockquote>There are a tremendous number of stats that illustrate the two-tiered nature of the market in 2021, but they will garner little attention because the indexes are the easy headline and they appeal to most of the financial media and traditional Wall Street.<blockquote>有大量统计数据说明了 2021 年市场的两级性质，但它们很少受到关注，因为这些指数很容易成为头条新闻，而且对大多数财经媒体和传统华尔街都有吸引力。</blockquote>The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market.<blockquote>熊市普遍接受的定义是当一只股票比其高点低20%时。目前，总共8,433只股票中有3,616只处于熊市。</blockquote>For the majority of stocks, the market topped in February and has fallen into bear markets over the last nine months. A frenzy of social media trading marked the February top when stocks such as <a href=\"https://laohu8.com/S/GME\">GameStop</a> (GME) and <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> (AMC) were pushed higher due in part to short-squeezes as well as the coordinated traders on Reddit and in Discord chat rooms.<blockquote>对于大多数股票来说，市场在二月份见顶，并在过去九个月陷入熊市。社交媒体交易的狂热标志着二月份的顶峰，当时股票等<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>（GME）和<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>(AMC) 被推高，部分原因是空头挤压以及 Reddit 和 Discord 聊天室上的协调交易者。</blockquote>These traders continued to aggressively push various trades, mostly in small-caps and thinly traded stocks, but the ability to create sustained movement quickly diminished, and those that had been promoting the holding of stocks with &#34;diamond hands&#34; eventually gave up.<blockquote>这些交易员继续积极推动各种交易，大多是小盘股和交易量稀少的股票，但创造持续走势的能力很快减弱，那些一直在推动用“钻石手”持股的人最终放弃了。</blockquote>This dynamic and the loss of many newer and small traders who were using stimulus money to trade was part of what hurt many of the secondary stocks and small-caps, but another major issue this year was the flood of special purpose acquisition companies or SPACs.<blockquote>这种动态以及许多使用刺激资金进行交易的新交易者和小交易者的损失是损害许多次级股票和小盘股的部分原因，但今年的另一个主要问题是特殊目的收购公司或 SPAC 的涌入。</blockquote>In 2021, more than 600 SPACs IPO&#39;ed and raised over $160 billion in capital. Many of these SPACs had less than stellar fundamentals, but they attracted speculators that were protected by the $10 redemption. It was easy to sponsor and sell a SPAC at $10 if it could be redeemed at that same price at some point.<blockquote>2021年，超过600家SPAC首次公开募股，筹集了超过1600亿美元的资金。其中许多 SPAC 的基本面并不理想，但它们吸引了受到 10 美元赎回保护的投机者。如果SPAC可以在某个时候以同样的价格赎回，那么以10美元的价格赞助和出售SPAC是很容易的。</blockquote>A significant number of SPACs are trading at their lows and have taken capital from other speculative sectors.<blockquote>大量 SPAC 的交易价格处于低点，并从其他投机行业吸引了资金。</blockquote>There are more than 570 SPACs still looking for a deal, and around 90 have already been liquidated. Even when a SPAC has found a deal, many have traded very poorly as the $10 redemption price disappears and those that are holding PIPE shares try to recover some capital.<blockquote>超过 570 家 SPAC 仍在寻求交易，其中约 90 家已被清算。即使 SPAC 达成交易，随着 10 美元的赎回价格消失，许多人的交易也非常糟糕，而那些持有 PIPE 股票的人正试图收回一些资本。</blockquote>SPACs sucked up a tremendous amount of capital during the year, and their poor performance is a big part of why so many smaller stocks have acted poorly as well. Not only are there are a significant number of SPACs that are trading at their lows, but they have taken capital from other speculative sectors.<blockquote>SPAC 在这一年中吸收了大量资本，它们的糟糕表现是许多小型股票也表现不佳的一个重要原因。不仅有大量 SPAC 处于低点交易，而且它们还从其他投机行业吸引了资本。</blockquote>Two sectors that have suffered greatly from this lack of liquidity in 2021 are biotechnology and cannabis. Both are trading close to their lows and have substantial losses for the year. Overall there are around 2,700 stocks or 32% of all stocks, within 10% of their 12-month lows.<blockquote>2021 年，生物技术和大麻这两个行业因流动性缺乏而遭受重创。两家公司的交易价格均接近低点，今年均出现大幅亏损。总体而言，约有 2,700 只股票，占所有股票的 32%，处于 12 个月低点的 10% 以内。</blockquote>Be prepared for the stories about how well the market did this year, but the truth is that there is <a href=\"https://laohu8.com/S/AONE.U\">one</a> asset class that did very well, and that is mega-cap stocks. The broader market had a very tough go of it in 2021, but you would not know it unless you did some digging.<blockquote>请准备好了解今年市场表现如何的故事，但事实是<a href=\"https://laohu8.com/S/AONE.U\">一</a>表现非常好的资产类别是大盘股。2021年，更广泛的市场经历了非常艰难的时期，但除非你做一些挖掘，否则你不会知道。</blockquote></body></html><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/markets/2021-market-in-review-a-very-good-year-for-mega-cap-stocks-but-not-much-else-15871611\">Realmoney</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://realmoney.thestreet.com/markets/2021-market-in-review-a-very-good-year-for-mega-cap-stocks-but-not-much-else-15871611","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190455875","content_text":"We will soon be seeing numerous news stories about how the stock market had a fantastic year. These stories will cite a 30% gain in the S&P 500 and the Nasdaq 100 and a 20% gain in the DJIA. Stocks such as Apple (AAPL) , which is up around 40%, will be offered as examples of what a fine year it has been.These sorts of returns are great news for portfolios that are tied to the performance of big-caps and the senior indexes. Many retirement and 401(k) accounts have allocation options that benefited greatly from this strong performance.However, the big story this year isn't how well the indexes have performed -- it's how much they failed to reflect what was really going on in the broader market. Just 10 stocks are around 30% of the weight of the S&P 500, and 25 stocks are close to half. These stocks did well, and therefore the indexes did very well.The indexes are essentially a specific asset class of very large-cap stocks, and that asset class had a very good year. If we dig deeper, though, the picture is not quite as attractive.If you look only at stocks that are trading under $20 then 50% are down 20% or more from highs. 63% of stocks under $10 are down 20% or more.— James DePorre (@RevShark) December 29, 2021One of the easiest ways to see how the indexes have overstated the performance of the broader market is to look at returns produced by U.S. equity funds. According to TheStreet, close to 85% were trailing the S&P 500 as of the end of November, and that had probably declined in December when secondary stocks were hit hard once again. On Tuesday Goldman Sachs stated, \"if you take the year-to-date total return of the Goldman Sachs Hedge Fund VIP basket and you triple it, you still fall short of the S&P 500.\"Another illustration of how poor the market has been for stocks other than mega-caps is that nearly 60% of all stocks are below their 200-day simple moving average of price.The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market. That is 42.9% of all stocks, yet the indexes are currently close to all-time highs.There are a tremendous number of stats that illustrate the two-tiered nature of the market in 2021, but they will garner little attention because the indexes are the easy headline and they appeal to most of the financial media and traditional Wall Street.The generally accepted definition of a bear market is when a stock is 20% below its highs. Currently, 3,616 stocks out of a total of 8,433 are in a bear market.For the majority of stocks, the market topped in February and has fallen into bear markets over the last nine months. A frenzy of social media trading marked the February top when stocks such as GameStop (GME) and AMC Entertainment (AMC) were pushed higher due in part to short-squeezes as well as the coordinated traders on Reddit and in Discord chat rooms.These traders continued to aggressively push various trades, mostly in small-caps and thinly traded stocks, but the ability to create sustained movement quickly diminished, and those that had been promoting the holding of stocks with \"diamond hands\" eventually gave up.This dynamic and the loss of many newer and small traders who were using stimulus money to trade was part of what hurt many of the secondary stocks and small-caps, but another major issue this year was the flood of special purpose acquisition companies or SPACs.In 2021, more than 600 SPACs IPO'ed and raised over $160 billion in capital. Many of these SPACs had less than stellar fundamentals, but they attracted speculators that were protected by the $10 redemption. It was easy to sponsor and sell a SPAC at $10 if it could be redeemed at that same price at some point.A significant number of SPACs are trading at their lows and have taken capital from other speculative sectors.There are more than 570 SPACs still looking for a deal, and around 90 have already been liquidated. Even when a SPAC has found a deal, many have traded very poorly as the $10 redemption price disappears and those that are holding PIPE shares try to recover some capital.SPACs sucked up a tremendous amount of capital during the year, and their poor performance is a big part of why so many smaller stocks have acted poorly as well. Not only are there are a significant number of SPACs that are trading at their lows, but they have taken capital from other speculative sectors.Two sectors that have suffered greatly from this lack of liquidity in 2021 are biotechnology and cannabis. Both are trading close to their lows and have substantial losses for the year. Overall there are around 2,700 stocks or 32% of all stocks, within 10% of their 12-month lows.Be prepared for the stories about how well the market did this year, but the truth is that there is one asset class that did very well, and that is mega-cap stocks. The broader market had a very tough go of it in 2021, but you would not know it unless you did some digging.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4120,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":19,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/692360474"}