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2021-02-24

Can I have a like[得意]

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2021-02-22

Help to like & comment, thanks![开心]

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2021-02-23

Can I have a like & comment [得意]

‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</blockquote>

2021-02-14

Like and comment thanks![得意]

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2021-03-02

Wow

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2021-03-01

[得意]

Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>

2021-02-21

Good😁 can I have a like & comment?

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2021-02-15

Wow

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2021-03-04

[傲娇]

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2021-03-03

Wow!

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18:21","market":"us","language":"en","title":"Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103930774","media":"Motley Fool ","summary":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an intervi","content":"<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>","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>Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">\nWhy QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool </strong><span class=\"h-time small\">2021-02-26 18:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/\">Motley Fool </a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103930774","content_text":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.\nWhat happened\nThe stock of aspiring solid-state battery technology company QuantumScape (NYSE:QS) has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.\nSo what\nShares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the electric-vehicle (EV) sector as a speculative stock hoping to revolutionize EV battery technology.\nToday, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.\nNow what\nDuring today's interview, Singh reiterated some positive developments the company shared with investors last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.\nThe company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.\nSingh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.\nSuccessful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.","news_type":1,"symbols_score_info":{"QS":0.9}},"isVote":1,"tweetType":1,"viewCount":3157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366157636,"gmtCreate":1614418298025,"gmtModify":1703477446443,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Oh no[白眼]&nbsp;","listText":"Oh no[白眼]&nbsp;","text":"Oh no[白眼]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366157636","repostId":"2114037930","repostType":4,"isVote":1,"tweetType":1,"viewCount":2339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366157192,"gmtCreate":1614418262116,"gmtModify":1703477446099,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Nice[微笑]&nbsp;","listText":"Nice[微笑]&nbsp;","text":"Nice[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366157192","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":2486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":361157724,"gmtCreate":1614215798568,"gmtModify":1634550676805,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Like like like[开心]&nbsp;","listText":"Like like like[开心]&nbsp;","text":"Like like like[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/361157724","repostId":"1129467108","repostType":4,"repost":{"id":"1129467108","kind":"news","pubTimestamp":1614164417,"share":"https://www.laohu8.com/m/news/1129467108?lang=zh_CN&edition=full","pubTime":"2021-02-24 19:00","market":"us","language":"en","title":"Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129467108","media":"Barrons","summary":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullie","content":"<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格疲软的担忧，以较低的价格持有标普500股票也并不可怕。</blockquote></p><p></p>","source":"lsy1601382232898","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>Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</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\">\nWhy J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-24 19:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格疲软的担忧，以较低的价格持有标普500股票也并不可怕。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129467108","content_text":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.TheS&P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”As President Joe Biden’s administration champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move that is fanning inflation fearsand worries about stock slumps.Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.To position for the stock market to surge higher, Quigg advised clients to consider selling one of the SPDR S&P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.Quigg’s trade idea has a lot to admire.For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&P 500 stocks at lower prices isn’t terrible, either.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":363242242,"gmtCreate":1614146382286,"gmtModify":1634550984907,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can I have a like[得意]&nbsp;","listText":"Can I have a like[得意]&nbsp;","text":"Can I have a like[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/363242242","repostId":"1186371880","repostType":4,"isVote":1,"tweetType":1,"viewCount":4413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":369583995,"gmtCreate":1614058677717,"gmtModify":1634551351386,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can I have a like &amp; comment [得意]&nbsp;","listText":"Can I have a like &amp; comment [得意]&nbsp;","text":"Can I have a like & comment [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/369583995","repostId":"1175924985","repostType":4,"repost":{"id":"1175924985","kind":"news","pubTimestamp":1614058173,"share":"https://www.laohu8.com/m/news/1175924985?lang=zh_CN&edition=full","pubTime":"2021-02-23 13:29","market":"us","language":"en","title":"‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175924985","media":"MarketWatch","summary":"Berkshire Hathaway’s trailing 15-year return is now below the S&P 500\nShould investors continue to g","content":"<p>Berkshire Hathaway’s trailing 15-year return is now below the S&amp;P 500</p><p><blockquote>Berkshire Hathaway过去15年的回报率目前低于标普500</blockquote></p><p> Should investors continue to give Warren Buffett the benefit of the doubt?</p><p><blockquote>投资者应该继续相信沃伦·巴菲特吗？</blockquote></p><p> That is the big question for Berkshire Hathaway&nbsp;shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.</p><p><blockquote>对于伯克希尔哈撒韦公司股东来说，这是一个大问题，因为他们预计巴菲特将于2月27日发布致公司股东的年度信。伯克希尔的年度股东大会通常在内布拉斯加州奥马哈举行。但今年将是巴菲特解决这个问题的又一次机会。股东大会定于5月1日举行。</blockquote></p><p> This question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&amp;P 500&nbsp;by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&amp;P 500 by even more in 2019 (20 percentage points), and is now behind the S&amp;P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.</p><p><blockquote>如果2020年——伯克希尔股价落后标普500 16个百分点——只是一个异常，这个问题就不会那么紧迫。但事实并非如此。该股在2019年落后于标普500更多（20个百分点），目前在过去5年、10年和15年期间落后于标普500。这些期限足够长，至少可以满足许多投资者对长期的定义。</blockquote></p><p> I have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.</p><p><blockquote>我不知道巴菲特是否会在信中或在公司年会上谈到伯克希尔股票落后于市场的表现。我向该公司提出的置评请求没有得到答复。但如果他不解决这个问题，我会感到惊讶，在本专栏的其余部分，我想提供一些背景信息，帮助我们理解他可能要说的话的意义。</blockquote></p><p> <b>Will Buffett double down on his bearish stock market outlook?</b></p><p><blockquote><b>巴菲特会加倍看跌股市前景吗？</b></blockquote></p><p> Pay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.</p><p><blockquote>密切关注巴菲特是否会加倍押注他近年来对待股市的看跌姿态。伯克希尔股票的表现落后很大程度上是因为这种看跌情绪。例如，去年第三季度初，该公司坐拥巨额现金——事实上为1,470亿美元。</blockquote></p><p> Given the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&amp;P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&amp;P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&amp;P 500 by a cumulative 15 percentage points.</p><p><blockquote>鉴于伯克希尔的保守姿态，在过去15年里，伯克希尔的股票不需要整体市场大幅下跌就能再次领先于标普500。事实上，我计算出，标普500的表现至少比公司股票差3%，这在熊市中很可能发生。例如，在2007-2009年伴随大金融危机的熊市期间，伯克希尔股价累计跑赢标普500 15个百分点。</blockquote></p><p> My guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”</p><p><blockquote>我的猜测是，巴菲特确实会加倍看跌。考虑一下股市总市值与美国GDP的比率——所谓的巴菲特指标——所讲述的故事。二十年前，巴菲特表示，该比率“可能是衡量任何特定时刻估值水平的最佳单一指标”，因此得名。</blockquote></p><p> This ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.</p><p><blockquote>这一比率现在比美国市场历史上的任何其他时期都要高（因此更加看跌），甚至高于20世纪90年代末互联网泡沫顶部的水平——如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/588c144cbfb44b59031247a976215db3\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> <b>How big of a role has luck played?</b></p><p><blockquote><b>运气起了多大的作用？</b></blockquote></p><p> Another big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&amp;P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.</p><p><blockquote>当你决定是否继续相信巴菲特时，另一个大问题是：仅仅是运气不好就能解释伯克希尔落后于市场的回报吗？这是一个特别重要的问题，因为即使考虑到过去15年，该股的长期记录也非常出色。自1965年以来，伯克希尔股票在股息调整后的年化收益率为20.1%至10.2%，优于标普500。据我所知，在这56年的时间里，没有其他在世的投资者能比得上巴菲特。</blockquote></p><p> To calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&amp;P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?</p><p><blockquote>为了计算运气在业绩中可能扮演的角色，我进行了下面的蒙特卡罗模拟：如果在接下来的15个日历年中，巴菲特的阿尔法（相对于标普500的回报率）都是从巴菲特过去56年的实际阿尔法中随机挑选出来的，会怎么样？如果这个实验运行10,000次会怎么样？</blockquote></p><p> To put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.</p><p><blockquote>为了正确看待我的发现，请考虑一下伯克希尔哈撒韦公司实际上在过去15年中有5年的阿尔法值为负。在我24.4%的模拟中，该公司的股票至少在那么多年里都有负阿尔法。四分之一的几率表明，该公司股票实际阿尔法值为负的年份并没有什么特别不寻常的。</blockquote></p><p> To be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.</p><p><blockquote>可以肯定的是，在我的模拟中，伯克希尔哈撒韦公司在整个15年期间出现负阿尔法的可能性较小。但它仍然发生了——2%的时间。因此，巴菲特过去15年的负阿尔法可能只不过是运气不好。</blockquote></p><p> My vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.</p><p><blockquote>我的投票是继续假定巴菲特是无辜的。今年没有理由比往年更少关注他的股东信。</blockquote></p><p></p>","source":"market_watch","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>‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</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\">\n‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-23 13:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Berkshire Hathaway’s trailing 15-year return is now below the S&amp;P 500</p><p><blockquote>Berkshire Hathaway过去15年的回报率目前低于标普500</blockquote></p><p> Should investors continue to give Warren Buffett the benefit of the doubt?</p><p><blockquote>投资者应该继续相信沃伦·巴菲特吗？</blockquote></p><p> That is the big question for Berkshire Hathaway&nbsp;shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.</p><p><blockquote>对于伯克希尔哈撒韦公司股东来说，这是一个大问题，因为他们预计巴菲特将于2月27日发布致公司股东的年度信。伯克希尔的年度股东大会通常在内布拉斯加州奥马哈举行。但今年将是巴菲特解决这个问题的又一次机会。股东大会定于5月1日举行。</blockquote></p><p> This question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&amp;P 500&nbsp;by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&amp;P 500 by even more in 2019 (20 percentage points), and is now behind the S&amp;P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.</p><p><blockquote>如果2020年——伯克希尔股价落后标普500 16个百分点——只是一个异常，这个问题就不会那么紧迫。但事实并非如此。该股在2019年落后于标普500更多（20个百分点），目前在过去5年、10年和15年期间落后于标普500。这些期限足够长，至少可以满足许多投资者对长期的定义。</blockquote></p><p> I have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.</p><p><blockquote>我不知道巴菲特是否会在信中或在公司年会上谈到伯克希尔股票落后于市场的表现。我向该公司提出的置评请求没有得到答复。但如果他不解决这个问题，我会感到惊讶，在本专栏的其余部分，我想提供一些背景信息，帮助我们理解他可能要说的话的意义。</blockquote></p><p> <b>Will Buffett double down on his bearish stock market outlook?</b></p><p><blockquote><b>巴菲特会加倍看跌股市前景吗？</b></blockquote></p><p> Pay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.</p><p><blockquote>密切关注巴菲特是否会加倍押注他近年来对待股市的看跌姿态。伯克希尔股票的表现落后很大程度上是因为这种看跌情绪。例如，去年第三季度初，该公司坐拥巨额现金——事实上为1,470亿美元。</blockquote></p><p> Given the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&amp;P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&amp;P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&amp;P 500 by a cumulative 15 percentage points.</p><p><blockquote>鉴于伯克希尔的保守姿态，在过去15年里，伯克希尔的股票不需要整体市场大幅下跌就能再次领先于标普500。事实上，我计算出，标普500的表现至少比公司股票差3%，这在熊市中很可能发生。例如，在2007-2009年伴随大金融危机的熊市期间，伯克希尔股价累计跑赢标普500 15个百分点。</blockquote></p><p> My guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”</p><p><blockquote>我的猜测是，巴菲特确实会加倍看跌。考虑一下股市总市值与美国GDP的比率——所谓的巴菲特指标——所讲述的故事。二十年前，巴菲特表示，该比率“可能是衡量任何特定时刻估值水平的最佳单一指标”，因此得名。</blockquote></p><p> This ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.</p><p><blockquote>这一比率现在比美国市场历史上的任何其他时期都要高（因此更加看跌），甚至高于20世纪90年代末互联网泡沫顶部的水平——如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/588c144cbfb44b59031247a976215db3\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> <b>How big of a role has luck played?</b></p><p><blockquote><b>运气起了多大的作用？</b></blockquote></p><p> Another big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&amp;P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.</p><p><blockquote>当你决定是否继续相信巴菲特时，另一个大问题是：仅仅是运气不好就能解释伯克希尔落后于市场的回报吗？这是一个特别重要的问题，因为即使考虑到过去15年，该股的长期记录也非常出色。自1965年以来，伯克希尔股票在股息调整后的年化收益率为20.1%至10.2%，优于标普500。据我所知，在这56年的时间里，没有其他在世的投资者能比得上巴菲特。</blockquote></p><p> To calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&amp;P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?</p><p><blockquote>为了计算运气在业绩中可能扮演的角色，我进行了下面的蒙特卡罗模拟：如果在接下来的15个日历年中，巴菲特的阿尔法（相对于标普500的回报率）都是从巴菲特过去56年的实际阿尔法中随机挑选出来的，会怎么样？如果这个实验运行10,000次会怎么样？</blockquote></p><p> To put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.</p><p><blockquote>为了正确看待我的发现，请考虑一下伯克希尔哈撒韦公司实际上在过去15年中有5年的阿尔法值为负。在我24.4%的模拟中，该公司的股票至少在那么多年里都有负阿尔法。四分之一的几率表明，该公司股票实际阿尔法值为负的年份并没有什么特别不寻常的。</blockquote></p><p> To be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.</p><p><blockquote>可以肯定的是，在我的模拟中，伯克希尔哈撒韦公司在整个15年期间出现负阿尔法的可能性较小。但它仍然发生了——2%的时间。因此，巴菲特过去15年的负阿尔法可能只不过是运气不好。</blockquote></p><p> My vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.</p><p><blockquote>我的投票是继续假定巴菲特是无辜的。今年没有理由比往年更少关注他的股东信。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buffett-indicator-is-alarmingly-bearish-and-this-years-berkshire-shareholder-letter-could-reveal-why-11613780296?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\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://www.marketwatch.com/story/buffett-indicator-is-alarmingly-bearish-and-this-years-berkshire-shareholder-letter-could-reveal-why-11613780296?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1175924985","content_text":"Berkshire Hathaway’s trailing 15-year return is now below the S&P 500\nShould investors continue to give Warren Buffett the benefit of the doubt?\nThat is the big question for Berkshire Hathaway shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.\nThis question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&P 500 by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&P 500 by even more in 2019 (20 percentage points), and is now behind the S&P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.\nI have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.\nWill Buffett double down on his bearish stock market outlook?\nPay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.\nGiven the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&P 500 by a cumulative 15 percentage points.\nMy guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”\nThis ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.\n\nHow big of a role has luck played?\nAnother big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.\nTo calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?\nTo put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.\nTo be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.\nMy vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360550726,"gmtCreate":1613958684265,"gmtModify":1634551773668,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Help to like &amp; comment, thanks![开心]&nbsp;","listText":"Help to like &amp; comment, thanks![开心]&nbsp;","text":"Help to like & comment, thanks![开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360550726","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":1479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360849722,"gmtCreate":1613890699266,"gmtModify":1634551935095,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good😁 can I have a like &amp; comment?","listText":"Good😁 can I have a like &amp; comment?","text":"Good😁 can I have a like & comment?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360849722","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360849590,"gmtCreate":1613890672110,"gmtModify":1634551935340,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good[得意]&nbsp;","listText":"Good[得意]&nbsp;","text":"Good[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360849590","isVote":1,"tweetType":1,"viewCount":1269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360360506,"gmtCreate":1613833696105,"gmtModify":1634552076158,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can I have a like😁","listText":"Can I have a like😁","text":"Can I have a like😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360360506","repostId":"1100960455","repostType":4,"repost":{"id":"1100960455","kind":"news","pubTimestamp":1613717993,"share":"https://www.laohu8.com/m/news/1100960455?lang=zh_CN&edition=full","pubTime":"2021-02-19 14:59","market":"us","language":"en","title":"Palantir: Buy The Dip<blockquote>Palantir：逢低买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100960455","media":"Seeking Alpha","summary":"Summary\n\nPalantir posted solid revenue, but missed on earnings. The future forecast was a bit disapp","content":"<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>Palantir posted solid revenue, but missed on earnings. The future forecast was a bit disappointing.</li>  <li>Palantir is expecting 30% year-over-year revenue growth after posting 47% growth for 2020.</li>  <li>Palantir continues to grow its client base across multiple industries.</li>  <li>Palantir's lock-up period ends on February 19th. Place your bets!</li> </ul> One of the hotter stocks as of late is recent Direct Listing, Palantir Technologies Inc. (PLTR). Some investors were expecting the company was expected to release blowout earnings today and fell short of that. The company did post incredible revenue growth, and the path forward looks bright as well. However, investors were disappointed with just how bright that picture is according to the company. The stock is falling leading up to the end of the lock-up period as expected. Next week will tell a better story as to where this stock is headed. If you are feeling risky, jump aboard.</p><p><blockquote><ul><li>Palantir公布了稳健的收入，但未能实现盈利。未来的预测有点令人失望。</li><li>Palantir预计2020年收入将同比增长30%，此前预计2020年收入将增长47%。</li><li>Palantir继续扩大其在多个行业的客户群。</li><li>Palantir的锁定期于2月19日结束。下注吧！</li></ul>最近最热门的股票之一是最近直接上市的Palantir Technologies Inc.(PLTR)。一些投资者预计该公司今天将发布井喷式收益，但未能如愿。该公司确实实现了令人难以置信的收入增长，而且前进的道路看起来也很光明。然而，投资者对该公司表示的光明前景感到失望。正如预期的那样，在禁售期结束之前，该股正在下跌。下周将讲述一个更好的故事，说明这只股票的走向。如果你觉得有风险，就跳上船。</blockquote></p><p> <b>Who Are They?</b></p><p><blockquote><b>他们是谁？</b></blockquote></p><p> If you are like me, you likely had no idea who this company was or what they did. Well, Palantir Technologies Inc. has been around since 2003 and is headquartered in Denver, Colorado. In short,they build and deploy software platforms for the intelligence community in the USA to assist in counterterrorism investigations and operations.</p><p><blockquote>如果你和我一样，你可能不知道这家公司是谁，也不知道他们做什么。Palantir Technologies Inc.成立于2003年，总部位于科罗拉多州丹佛市。简而言之，他们为美国情报界构建和部署软件平台，以协助反恐调查和行动。</blockquote></p><p> Palantir Gothamis a software program that identifies patterns hidden deep within datasets. This helps execute real-world responses to threats that have been identified within the platform. This was used in the efforts to help those in need in hurricane Florence in 2018. Palantir Gothamcombined publicly available flood data with weather information and social vulnerability census data to find the communities in greatest needand resources were deployed appropriately. More recently, they are providing the U.S. government with coronavirus tracking software.</p><p><blockquote>Palantir Gothamis是一个软件程序，可以识别隐藏在数据集中深处的模式。这有助于对平台内已识别的威胁执行真实世界的响应。这被用于帮助2018年佛罗伦萨飓风中有需要的人。Palantir Gotham将公开可用的洪水数据与天气信息和社会脆弱性普查数据相结合，以找到最需要的社区并适当部署资源。最近，他们向美国政府提供冠状病毒跟踪软件。</blockquote></p><p> The company also provides Palantir Foundry,a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place.</p><p><blockquote>该公司还提供Palantir Foundry，这是一个通过为组织的数据创建中央操作系统来改变组织运营方式的平台；并允许个人用户在一个地方集成和分析他们需要的数据。</blockquote></p><p> Pretty cool hey?</p><p><blockquote>很酷嘿？</blockquote></p><p> <b>What Is Driving The Company?</b></p><p><blockquote><b>公司的驱动力是什么？</b></blockquote></p><p> Revenue. This is a growth play, plain and simple. Looking below we can see what is forecasted down the pipe. The missing block is 2020, which we found out todaywas $1.1 billion. That is a ~47% increase year-over-year. Going forward, analysts are projecting the pace stays heavy at 35%+ per year revenue growth. Often we consider 20% being strong, so that makes this look really good. For the fourth quarter, the company posted $322.1 million in revenue for the quarter, which was a beat by 20%.</p><p><blockquote>收入。这是一部成长剧，简单明了。往下看，我们可以看到未来的预测。缺失的区块是2020年，我们今天发现是11亿美元。同比增长约47%。展望未来，分析师预计年收入增长率将保持在35%以上。通常我们认为20%是强的，所以这看起来真的很好。第四季度，该公司营收为3.221亿美元，增长20%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2926257ca97794e55159ce8c6021a745\" tg-width=\"2978\" tg-height=\"992\"></p><p><blockquote></blockquote></p><p> (Source: TIKR.com)</p><p><blockquote>（来源：TIKR.com）</blockquote></p><p> The shock came from theloss per share which totaled $0.08 versus the positive $0.02 consensus. The stock fell over 12% today on the earnings news. Upon diving deeper, it would appear most investors were disappointed with the forward forecasts. I personally think they are sandbagging a bit to blow away consensus down the line, but time will tell how true that is. Based on everything the company had put out in terms of news, which is nicely outlined inJohn Rhodes article : Palantir: Potential Q4 Revenue Blowoutmost people expected the revenue beat, but the action in the stock over the last week showed otherwise.</p><p><blockquote>令人震惊的是每股亏损总计0.08美元，而市场普遍预期为0.02美元。受财报消息影响，该股今天下跌超过12%。深入研究后，大多数投资者似乎对前瞻性预测感到失望。我个人认为他们有点沙袋，以消除共识，但时间会证明这有多真实。根据该公司发布的所有新闻，约翰·罗兹(John Rhodes)的文章对此进行了很好的概述：Palantir：潜在的第四季度收入井喷大多数人预计收入会超出预期，但该股上周的表现却并非如此。</blockquote></p><p> Data has become more relevant to the average person than ever before. The local news has all kinds of data on it when it comes to COVID-19.In 2020, Palantir helped 100 commercial organizations and 10 national governments respond to COVID-19. This has been a large opportunity for Palantir, and they have not squandered it. This response has helped earn thema 2-year contract for U.K. health services work worth $31.5 million. In the fourth quarter alone, the company signed21 deals worth more than $5 million. 12 of which were worth $10 million or more. Revenue growth will continue to be the future of Palantir.</p><p><blockquote>数据变得比以往任何时候都更加与普通人相关。当地新闻有各种各样关于新冠肺炎的数据。2020年，Palantir帮助100家商业组织和10个国家政府应对COVID-19。这对Palantir来说是一个巨大的机会，他们并没有浪费它。这一回应帮助thema赢得了价值3150万美元的为期两年的英国卫生服务工作合同。仅在第四季度，该公司就签署了21笔价值超过500万美元的交易。其中12个价值1000万美元或以上。收入增长将继续是Palantir的未来。</blockquote></p><p> Some of the best business going is government business. For the year, Palantir saw56% of their revenue or $610 million come from government contracts. While the commercial side saw higher year-over-year growth at 107%, a 77% increase in government-based revenue isn't anything to laugh at. One of the more impressive pieces was that we saw happen with the average customer.Revenue increased by 41% year-over-year. Up to $7.9 million per customer from $5.6 million. This is an important metric to keep an eye on as customers hand more and more business over to Palantir as they continue to develop and improve their systems. The other factor playing into this is Palantir pulling larger customers into the fold. The new customers acquired in 2020, generated $42 million in revenue.</p><p><blockquote>一些最好的业务是政府业务。今年，Palantir 56%的收入（即6.1亿美元）来自政府合同。虽然商业方面的同比增长高达107%，但政府收入增长77%并不是什么可笑的事情。更令人印象深刻的一件事是我们在普通客户身上看到的情况。收入同比增长41%。每位客户从560万美元增至790万美元。随着客户继续开发和改进其系统，将越来越多的业务移交给Palantir，这是一个需要关注的重要指标。另一个因素是Palantir吸引了更大的客户。2020年获得的新客户创造了4200万美元的收入。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9284f5fd3e26d0c55fcd9b2f6355371e\" tg-width=\"1752\" tg-height=\"983\"></p><p><blockquote></blockquote></p><p></p><p> (Company Presentation)</p><p><blockquote>（公司介绍）</blockquote></p><p> So all of this and we still sit down 12% today? As I mentioned above, it was the forward forecasts that people were a bit shocked at. Palantir said toexpect revenue growth in excess of 30% for 2021. This would be fantastic news for most companies, but after you just posted a 47% growth year, it is a bit saddening. But as I said, I think they are sandbagging a bit. Analysts are still projecting about a 35% increase for 2021. Something tells me they will outdo that as the year goes on. The company did state that they are targeting $4 billion in revenue by 2025, which carrying 30% per year growth from here will get you. I fully expect that number to creep closer to $5 billion based on current projections. Palantir is going after the \"big fish\" across multiple industries.8 of their customers fall into the Fortune 100, and 12 of the Global 100. As their products continue to develop and improve, their bottom line is only going to get better. I think there is a lot of room to run here in the long term.</p><p><blockquote>所以所有这些，我们今天仍然坐在12%？正如我上面提到的，人们对前瞻性预测感到有点震惊。Palantir表示，预计2021年收入增长将超过30%。对于大多数公司来说，这将是一个好消息，但在您刚刚公布了47%的增长年度之后，这有点令人难过。但正如我所说，我认为他们有点沙袋。分析师仍预计2021年将增长约35%。直觉告诉我，随着时间的推移，他们会超越这一目标。该公司确实表示，他们的目标是到2025年实现40亿美元的收入，从现在开始每年增长30%。根据目前的预测，我完全预计这个数字将接近50亿美元。Palantir正在追逐多个行业的“大鱼”。他们的客户中有8家属于财富100强，12家属于全球100强。随着他们产品的不断开发和改进，他们的底线只会越来越好。我认为从长远来看，这里有很大的发展空间。</blockquote></p><p> <b>What Are The Risks?</b></p><p><blockquote><b>有哪些风险？</b></blockquote></p><p> One of the up-and-coming risks is the lock-up period ending, which I will touch on below. Besides that, I will look at the government contracts. Yes, they are some of the most important, but that's not to say they come without risk. In the past, Palantir has said they need to focus more so on commercial customers to help the bottom line and to turn a profit (part of the reason for the earnings sell-off). As we can see, they have landed some big-time commercial clients, but that government aspect still exists.</p><p><blockquote>即将到来的风险之一是禁售期结束，我将在下面谈到这一点。除此之外，我会看看政府的合同。是的，它们是最重要的，但这并不是说它们没有风险。Palantir过去曾表示，他们需要更多地关注商业客户，以帮助盈利并扭亏为盈（这是盈利抛售的部分原因）。正如我们所看到的，他们已经获得了一些大型商业客户，但政府方面仍然存在。</blockquote></p><p> Something to keep in mind as well is that dealing with the government can lead to crossing some lines that some are not okay with. As reported by the Washington Post,in 2018, more than 200 employees signed a letter to CEO Alex Karp, citing concerns over a partnership with Immigration and Customs Enforcement. Multiple other big tech companies have been forced to cut ties with government agencies in the past over potential human rights violations.</p><p><blockquote>还要记住的是，与政府打交道可能会导致跨越一些人不同意的界限。据《华盛顿邮报》报道，2018年，200多名员工签署了一封致首席执行官亚历克斯·卡普的信，理由是对与移民和海关执法局合作的担忧。过去，其他多家大型科技公司因潜在侵犯人权而被迫切断与政府机构的联系。</blockquote></p><p> That said, I do really think the company will continue to do very well in the commercial sector and well reduce the overall government exposure overtime.</p><p><blockquote>也就是说，我确实认为该公司将继续在商业领域表现出色，并随着时间的推移减少整体政府风险。</blockquote></p><p> <b>What's The \"Lock-Up Period\"?</b></p><p><blockquote><b>什么是“禁售期”？</b></blockquote></p><p> The one concern many have had with Palantir is the lock-up period, which ends on February 19th (Friday). Typically, this is where we will see the lows kick in on IPO's that go this route, but it is not always the case.</p><p><blockquote>许多人对Palantir的一个担忧是锁定期，锁定期将于2月19日（星期五）结束。通常情况下，这是我们会看到走这条路线的IPO出现低点的地方，但情况并非总是如此。</blockquote></p><p>   Looking at 15 stocks that sawtheir lock-up periods expire in the first two weeks of October, the majority of shares started to fall in the days before the expiration date, prior to bouncing back three to five days afterwards. However, some saw virtually no selling pressure on the day and the share price immediately climbed once the lock-up had ended.  What is it? Well in short, instead of an IPO where new shares of the company are created and are underwritten by an intermediary, we have a Direct Listing. This is wherethe business sells shares directly to the public without the help of any intermediaries. It does not involve any underwriters or other intermediaries, there are no new shares issued. This means the largest shareholders in the business can only freely sell their shares after the IPO lock-up expiration. Spotify (SPOT) and Slack (WORK) are two examples of companies that went the Direct Listing route. That said, neither of these companies had lock-up periods for employees.</p><p><blockquote>从10月前两周锁定期到期的15只股票来看，大多数股票在到期日前几天开始下跌，三到五天后反弹。然而，一些人当天几乎没有抛售压力，锁定结束后股价立即攀升。这是什么？简而言之，我们不是通过首次公开募股（IPO）来创建公司的新股并由中介机构承销，而是直接上市。这是企业直接向公众出售股票的方式，无需任何中介机构的帮助。不涉及任何承销商或其他中介机构，不存在发行新股。这意味着该业务的最大股东只能在IPO禁售期到期后自由出售其股份。Spotify(SPOT)和Slack(WORK)是直接上市公司的两个例子。也就是说，这两家公司都没有员工锁定期。</blockquote></p><p> So what does this mean? Well, given thatMarketWatch said:</p><p><blockquote>那么这意味着什么呢？好吧，鉴于MarketWatch表示：</blockquote></p><p>   For Palantir, though, years of venture-capital investments have created more than enough shares to launch public trading: roughly 1.64 billion, though that grows to 2.17 billion in a fully diluted formula that includes vesting options.  It means that with roughly 497 million current outstanding shares, that we could see about 1.7 billion shares hit the market. Now that is not really likely, but what it does mean is that there should be less than average selling pressure on the stock considering the usually IPO accounts for 10% of shares released, while Palantir released over 20% based on the numbers provided above.</p><p><blockquote>不过，对于Palantir来说，多年的风险资本投资已经创造了足够的股票来启动公开交易：大约16.4亿股，尽管在包括归属期权在内的完全稀释公式中，这一数字将增长至21.7亿股。这意味着，目前流通股约为4.97亿股，我们可能会看到约17亿股上市。现在这种可能性不大，但这确实意味着，考虑到IPO通常占已发行股票的10%，而根据上面提供的数字，Palantir发行的股票超过20%，该股的抛售压力应该低于平均水平。</blockquote></p><p> Where are we now? Well as per the study quoted earlier, we are right on track. The stock is selling off in an orderly fashion right before the lock-up period ends. Now we have to wait and see what the rebound looks like. Or does everyone sell high and try and buy even lower? It is a bit of a wait-and-see. Let's take a look at what the technicals show us.</p><p><blockquote>我们现在在哪里？根据前面引用的研究，我们正走在正轨上。就在禁售期结束之前，该股正在有序抛售。现在我们必须拭目以待，看看反弹的情况如何。还是每个人都卖得很高，然后试图买得更低？这有点观望。让我们来看看技术向我们展示了什么。</blockquote></p><p> <b>What Does The Price Say?</b></p><p><blockquote><b>价格怎么说？</b></blockquote></p><p></p><p> Taking a quick peek at the technicals, we can see a couple of really strong support levels. Firstly, we broke through a pretty big one at $30 today and did so in a big way, which is a bit concerning in the short term, but there is potential for a quick bounce to re-test that $30 mark quickly. If these markets have taught us anything, it's that they can move quickly! In a normal case, this is probably where my stop would be. But have not had a position until today, the game changes a bit as I take on more risk.</p><p><blockquote>快速浏览一下技术面，我们可以看到几个非常强大的支撑位。首先，我们今天突破了30美元的一个相当大的水平，而且是以一种很大的方式突破的，这在短期内有点令人担忧，但有可能快速反弹以迅速重新测试30美元大关。如果说这些市场教会了我们什么，那就是它们可以快速行动！在正常情况下，这可能是我的停留点。但是直到今天我才有了头寸，随着我承担更多的风险，游戏发生了一些变化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6b568bf73db2c1b38aaa1546a10427dc\" tg-width=\"3837\" tg-height=\"1813\"></p><p><blockquote></blockquote></p><p> (Source: TC2000.com)</p><p><blockquote>（来源：TC2000.com）</blockquote></p><p> When a stock as popular as Palantir tanks like we saw today, one of two things happens. Either the dip gets bought up and this stock will fly back up to $40, or we see Palantir drop down to ~$23. Because the stock is so new, we really do not have a good gauge for support. Looking below we can see roughly where I am pulling $23 out of. This is a pretty substantial move from here yet. Would be about 20% to the downside. If $23 breaks, it could go even further south.</p><p><blockquote>当像Palantir这样受欢迎的股票像我们今天看到的那样下跌时，会发生两件事之一。要么逢低买入，这只股票将飞回40美元，要么我们看到Palantir跌至23美元左右。因为股票太新了，我们确实没有一个好的支撑指标。看下面，我们可以大致看到我从哪里提取了23美元。这是一个相当大的举措。大约会下降20%。如果突破23美元，它可能会进一步下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e3505c465c407b7387cbedf16a1b233\" tg-width=\"3840\" tg-height=\"1808\"></p><p><blockquote></blockquote></p><p> (Source: TC2000.com)</p><p><blockquote>（来源：TC2000.com）</blockquote></p><p> When trying to catch the bounce, you have to be prepared to average down. It is a totally different approach. Scale in, and scale-out.... all while knowing when to cut it loose. If you want to play this safe, watch for the bounce and try and get in then. I do think there will be a decent bounce that takes the stock back to $36-$40, but the question is when. This is not a long-term hold for me personally.</p><p><blockquote>当试图抓住反弹时，你必须做好平均下跌的准备。这是一种完全不同的方法。横向扩展和横向扩展....同时知道什么时候该放松。如果你想安全起见，留意反弹，然后试着进去。我确实认为该股会出现不错的反弹，回到36-40美元，但问题是什么时候。这对我个人来说不是长期持有的。</blockquote></p><p> <b>Wrap-Up</b></p><p><blockquote><b>总结</b></blockquote></p><p> As you can see, there is a lot to like about the direction in which the company is headed. The valuation can always be debated, but at the end of the day, the value is whatever someone is willing to pay for it. Palantir is a revenue machine and it is not going to slow down. They are playing with the \"big fish\" and the revenue will follow as long as they can continue to deliver on their goals. I am currently long, but watching closely as the lock-up period ends this week. If you are going long, make sure to scale in over the next couple of days and place your bets for which way this goes next week. Stay safe out there!</p><p><blockquote>正如您所看到的，公司的发展方向有很多值得喜欢的地方。估值总是可以争论的，但归根结底，价值就是有人愿意为此付出的任何代价。Palantir是一台收入机器，而且不会放缓。他们在玩“大鱼”，只要他们能继续实现目标，收入就会随之而来。我目前做多，但密切关注本周禁售期结束。如果你打算做多，确保在接下来的几天里扩大规模，并为下周的走势下注。在外面注意安全！</blockquote></p><p></p>","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>Palantir: Buy The Dip<blockquote>Palantir：逢低买入</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\">\nPalantir: Buy The Dip<blockquote>Palantir：逢低买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-02-19 14:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>Palantir posted solid revenue, but missed on earnings. The future forecast was a bit disappointing.</li>  <li>Palantir is expecting 30% year-over-year revenue growth after posting 47% growth for 2020.</li>  <li>Palantir continues to grow its client base across multiple industries.</li>  <li>Palantir's lock-up period ends on February 19th. Place your bets!</li> </ul> One of the hotter stocks as of late is recent Direct Listing, Palantir Technologies Inc. (PLTR). Some investors were expecting the company was expected to release blowout earnings today and fell short of that. The company did post incredible revenue growth, and the path forward looks bright as well. However, investors were disappointed with just how bright that picture is according to the company. The stock is falling leading up to the end of the lock-up period as expected. Next week will tell a better story as to where this stock is headed. If you are feeling risky, jump aboard.</p><p><blockquote><ul><li>Palantir公布了稳健的收入，但未能实现盈利。未来的预测有点令人失望。</li><li>Palantir预计2020年收入将同比增长30%，此前预计2020年收入将增长47%。</li><li>Palantir继续扩大其在多个行业的客户群。</li><li>Palantir的锁定期于2月19日结束。下注吧！</li></ul>最近最热门的股票之一是最近直接上市的Palantir Technologies Inc.(PLTR)。一些投资者预计该公司今天将发布井喷式收益，但未能如愿。该公司确实实现了令人难以置信的收入增长，而且前进的道路看起来也很光明。然而，投资者对该公司表示的光明前景感到失望。正如预期的那样，在禁售期结束之前，该股正在下跌。下周将讲述一个更好的故事，说明这只股票的走向。如果你觉得有风险，就跳上船。</blockquote></p><p> <b>Who Are They?</b></p><p><blockquote><b>他们是谁？</b></blockquote></p><p> If you are like me, you likely had no idea who this company was or what they did. Well, Palantir Technologies Inc. has been around since 2003 and is headquartered in Denver, Colorado. In short,they build and deploy software platforms for the intelligence community in the USA to assist in counterterrorism investigations and operations.</p><p><blockquote>如果你和我一样，你可能不知道这家公司是谁，也不知道他们做什么。Palantir Technologies Inc.成立于2003年，总部位于科罗拉多州丹佛市。简而言之，他们为美国情报界构建和部署软件平台，以协助反恐调查和行动。</blockquote></p><p> Palantir Gothamis a software program that identifies patterns hidden deep within datasets. This helps execute real-world responses to threats that have been identified within the platform. This was used in the efforts to help those in need in hurricane Florence in 2018. Palantir Gothamcombined publicly available flood data with weather information and social vulnerability census data to find the communities in greatest needand resources were deployed appropriately. More recently, they are providing the U.S. government with coronavirus tracking software.</p><p><blockquote>Palantir Gothamis是一个软件程序，可以识别隐藏在数据集中深处的模式。这有助于对平台内已识别的威胁执行真实世界的响应。这被用于帮助2018年佛罗伦萨飓风中有需要的人。Palantir Gotham将公开可用的洪水数据与天气信息和社会脆弱性普查数据相结合，以找到最需要的社区并适当部署资源。最近，他们向美国政府提供冠状病毒跟踪软件。</blockquote></p><p> The company also provides Palantir Foundry,a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place.</p><p><blockquote>该公司还提供Palantir Foundry，这是一个通过为组织的数据创建中央操作系统来改变组织运营方式的平台；并允许个人用户在一个地方集成和分析他们需要的数据。</blockquote></p><p> Pretty cool hey?</p><p><blockquote>很酷嘿？</blockquote></p><p> <b>What Is Driving The Company?</b></p><p><blockquote><b>公司的驱动力是什么？</b></blockquote></p><p> Revenue. This is a growth play, plain and simple. Looking below we can see what is forecasted down the pipe. The missing block is 2020, which we found out todaywas $1.1 billion. That is a ~47% increase year-over-year. Going forward, analysts are projecting the pace stays heavy at 35%+ per year revenue growth. Often we consider 20% being strong, so that makes this look really good. For the fourth quarter, the company posted $322.1 million in revenue for the quarter, which was a beat by 20%.</p><p><blockquote>收入。这是一部成长剧，简单明了。往下看，我们可以看到未来的预测。缺失的区块是2020年，我们今天发现是11亿美元。同比增长约47%。展望未来，分析师预计年收入增长率将保持在35%以上。通常我们认为20%是强的，所以这看起来真的很好。第四季度，该公司营收为3.221亿美元，增长20%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2926257ca97794e55159ce8c6021a745\" tg-width=\"2978\" tg-height=\"992\"></p><p><blockquote></blockquote></p><p> (Source: TIKR.com)</p><p><blockquote>（来源：TIKR.com）</blockquote></p><p> The shock came from theloss per share which totaled $0.08 versus the positive $0.02 consensus. The stock fell over 12% today on the earnings news. Upon diving deeper, it would appear most investors were disappointed with the forward forecasts. I personally think they are sandbagging a bit to blow away consensus down the line, but time will tell how true that is. Based on everything the company had put out in terms of news, which is nicely outlined inJohn Rhodes article : Palantir: Potential Q4 Revenue Blowoutmost people expected the revenue beat, but the action in the stock over the last week showed otherwise.</p><p><blockquote>令人震惊的是每股亏损总计0.08美元，而市场普遍预期为0.02美元。受财报消息影响，该股今天下跌超过12%。深入研究后，大多数投资者似乎对前瞻性预测感到失望。我个人认为他们有点沙袋，以消除共识，但时间会证明这有多真实。根据该公司发布的所有新闻，约翰·罗兹(John Rhodes)的文章对此进行了很好的概述：Palantir：潜在的第四季度收入井喷大多数人预计收入会超出预期，但该股上周的表现却并非如此。</blockquote></p><p> Data has become more relevant to the average person than ever before. The local news has all kinds of data on it when it comes to COVID-19.In 2020, Palantir helped 100 commercial organizations and 10 national governments respond to COVID-19. This has been a large opportunity for Palantir, and they have not squandered it. This response has helped earn thema 2-year contract for U.K. health services work worth $31.5 million. In the fourth quarter alone, the company signed21 deals worth more than $5 million. 12 of which were worth $10 million or more. Revenue growth will continue to be the future of Palantir.</p><p><blockquote>数据变得比以往任何时候都更加与普通人相关。当地新闻有各种各样关于新冠肺炎的数据。2020年，Palantir帮助100家商业组织和10个国家政府应对COVID-19。这对Palantir来说是一个巨大的机会，他们并没有浪费它。这一回应帮助thema赢得了价值3150万美元的为期两年的英国卫生服务工作合同。仅在第四季度，该公司就签署了21笔价值超过500万美元的交易。其中12个价值1000万美元或以上。收入增长将继续是Palantir的未来。</blockquote></p><p> Some of the best business going is government business. For the year, Palantir saw56% of their revenue or $610 million come from government contracts. While the commercial side saw higher year-over-year growth at 107%, a 77% increase in government-based revenue isn't anything to laugh at. One of the more impressive pieces was that we saw happen with the average customer.Revenue increased by 41% year-over-year. Up to $7.9 million per customer from $5.6 million. This is an important metric to keep an eye on as customers hand more and more business over to Palantir as they continue to develop and improve their systems. The other factor playing into this is Palantir pulling larger customers into the fold. The new customers acquired in 2020, generated $42 million in revenue.</p><p><blockquote>一些最好的业务是政府业务。今年，Palantir 56%的收入（即6.1亿美元）来自政府合同。虽然商业方面的同比增长高达107%，但政府收入增长77%并不是什么可笑的事情。更令人印象深刻的一件事是我们在普通客户身上看到的情况。收入同比增长41%。每位客户从560万美元增至790万美元。随着客户继续开发和改进其系统，将越来越多的业务移交给Palantir，这是一个需要关注的重要指标。另一个因素是Palantir吸引了更大的客户。2020年获得的新客户创造了4200万美元的收入。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9284f5fd3e26d0c55fcd9b2f6355371e\" tg-width=\"1752\" tg-height=\"983\"></p><p><blockquote></blockquote></p><p></p><p> (Company Presentation)</p><p><blockquote>（公司介绍）</blockquote></p><p> So all of this and we still sit down 12% today? As I mentioned above, it was the forward forecasts that people were a bit shocked at. Palantir said toexpect revenue growth in excess of 30% for 2021. This would be fantastic news for most companies, but after you just posted a 47% growth year, it is a bit saddening. But as I said, I think they are sandbagging a bit. Analysts are still projecting about a 35% increase for 2021. Something tells me they will outdo that as the year goes on. The company did state that they are targeting $4 billion in revenue by 2025, which carrying 30% per year growth from here will get you. I fully expect that number to creep closer to $5 billion based on current projections. Palantir is going after the \"big fish\" across multiple industries.8 of their customers fall into the Fortune 100, and 12 of the Global 100. As their products continue to develop and improve, their bottom line is only going to get better. I think there is a lot of room to run here in the long term.</p><p><blockquote>所以所有这些，我们今天仍然坐在12%？正如我上面提到的，人们对前瞻性预测感到有点震惊。Palantir表示，预计2021年收入增长将超过30%。对于大多数公司来说，这将是一个好消息，但在您刚刚公布了47%的增长年度之后，这有点令人难过。但正如我所说，我认为他们有点沙袋。分析师仍预计2021年将增长约35%。直觉告诉我，随着时间的推移，他们会超越这一目标。该公司确实表示，他们的目标是到2025年实现40亿美元的收入，从现在开始每年增长30%。根据目前的预测，我完全预计这个数字将接近50亿美元。Palantir正在追逐多个行业的“大鱼”。他们的客户中有8家属于财富100强，12家属于全球100强。随着他们产品的不断开发和改进，他们的底线只会越来越好。我认为从长远来看，这里有很大的发展空间。</blockquote></p><p> <b>What Are The Risks?</b></p><p><blockquote><b>有哪些风险？</b></blockquote></p><p> One of the up-and-coming risks is the lock-up period ending, which I will touch on below. Besides that, I will look at the government contracts. Yes, they are some of the most important, but that's not to say they come without risk. In the past, Palantir has said they need to focus more so on commercial customers to help the bottom line and to turn a profit (part of the reason for the earnings sell-off). As we can see, they have landed some big-time commercial clients, but that government aspect still exists.</p><p><blockquote>即将到来的风险之一是禁售期结束，我将在下面谈到这一点。除此之外，我会看看政府的合同。是的，它们是最重要的，但这并不是说它们没有风险。Palantir过去曾表示，他们需要更多地关注商业客户，以帮助盈利并扭亏为盈（这是盈利抛售的部分原因）。正如我们所看到的，他们已经获得了一些大型商业客户，但政府方面仍然存在。</blockquote></p><p> Something to keep in mind as well is that dealing with the government can lead to crossing some lines that some are not okay with. As reported by the Washington Post,in 2018, more than 200 employees signed a letter to CEO Alex Karp, citing concerns over a partnership with Immigration and Customs Enforcement. Multiple other big tech companies have been forced to cut ties with government agencies in the past over potential human rights violations.</p><p><blockquote>还要记住的是，与政府打交道可能会导致跨越一些人不同意的界限。据《华盛顿邮报》报道，2018年，200多名员工签署了一封致首席执行官亚历克斯·卡普的信，理由是对与移民和海关执法局合作的担忧。过去，其他多家大型科技公司因潜在侵犯人权而被迫切断与政府机构的联系。</blockquote></p><p> That said, I do really think the company will continue to do very well in the commercial sector and well reduce the overall government exposure overtime.</p><p><blockquote>也就是说，我确实认为该公司将继续在商业领域表现出色，并随着时间的推移减少整体政府风险。</blockquote></p><p> <b>What's The \"Lock-Up Period\"?</b></p><p><blockquote><b>什么是“禁售期”？</b></blockquote></p><p> The one concern many have had with Palantir is the lock-up period, which ends on February 19th (Friday). Typically, this is where we will see the lows kick in on IPO's that go this route, but it is not always the case.</p><p><blockquote>许多人对Palantir的一个担忧是锁定期，锁定期将于2月19日（星期五）结束。通常情况下，这是我们会看到走这条路线的IPO出现低点的地方，但情况并非总是如此。</blockquote></p><p>   Looking at 15 stocks that sawtheir lock-up periods expire in the first two weeks of October, the majority of shares started to fall in the days before the expiration date, prior to bouncing back three to five days afterwards. However, some saw virtually no selling pressure on the day and the share price immediately climbed once the lock-up had ended.  What is it? Well in short, instead of an IPO where new shares of the company are created and are underwritten by an intermediary, we have a Direct Listing. This is wherethe business sells shares directly to the public without the help of any intermediaries. It does not involve any underwriters or other intermediaries, there are no new shares issued. This means the largest shareholders in the business can only freely sell their shares after the IPO lock-up expiration. Spotify (SPOT) and Slack (WORK) are two examples of companies that went the Direct Listing route. That said, neither of these companies had lock-up periods for employees.</p><p><blockquote>从10月前两周锁定期到期的15只股票来看，大多数股票在到期日前几天开始下跌，三到五天后反弹。然而，一些人当天几乎没有抛售压力，锁定结束后股价立即攀升。这是什么？简而言之，我们不是通过首次公开募股（IPO）来创建公司的新股并由中介机构承销，而是直接上市。这是企业直接向公众出售股票的方式，无需任何中介机构的帮助。不涉及任何承销商或其他中介机构，不存在发行新股。这意味着该业务的最大股东只能在IPO禁售期到期后自由出售其股份。Spotify(SPOT)和Slack(WORK)是直接上市公司的两个例子。也就是说，这两家公司都没有员工锁定期。</blockquote></p><p> So what does this mean? Well, given thatMarketWatch said:</p><p><blockquote>那么这意味着什么呢？好吧，鉴于MarketWatch表示：</blockquote></p><p>   For Palantir, though, years of venture-capital investments have created more than enough shares to launch public trading: roughly 1.64 billion, though that grows to 2.17 billion in a fully diluted formula that includes vesting options.  It means that with roughly 497 million current outstanding shares, that we could see about 1.7 billion shares hit the market. Now that is not really likely, but what it does mean is that there should be less than average selling pressure on the stock considering the usually IPO accounts for 10% of shares released, while Palantir released over 20% based on the numbers provided above.</p><p><blockquote>不过，对于Palantir来说，多年的风险资本投资已经创造了足够的股票来启动公开交易：大约16.4亿股，尽管在包括归属期权在内的完全稀释公式中，这一数字将增长至21.7亿股。这意味着，目前流通股约为4.97亿股，我们可能会看到约17亿股上市。现在这种可能性不大，但这确实意味着，考虑到IPO通常占已发行股票的10%，而根据上面提供的数字，Palantir发行的股票超过20%，该股的抛售压力应该低于平均水平。</blockquote></p><p> Where are we now? Well as per the study quoted earlier, we are right on track. The stock is selling off in an orderly fashion right before the lock-up period ends. Now we have to wait and see what the rebound looks like. Or does everyone sell high and try and buy even lower? It is a bit of a wait-and-see. Let's take a look at what the technicals show us.</p><p><blockquote>我们现在在哪里？根据前面引用的研究，我们正走在正轨上。就在禁售期结束之前，该股正在有序抛售。现在我们必须拭目以待，看看反弹的情况如何。还是每个人都卖得很高，然后试图买得更低？这有点观望。让我们来看看技术向我们展示了什么。</blockquote></p><p> <b>What Does The Price Say?</b></p><p><blockquote><b>价格怎么说？</b></blockquote></p><p></p><p> Taking a quick peek at the technicals, we can see a couple of really strong support levels. Firstly, we broke through a pretty big one at $30 today and did so in a big way, which is a bit concerning in the short term, but there is potential for a quick bounce to re-test that $30 mark quickly. If these markets have taught us anything, it's that they can move quickly! In a normal case, this is probably where my stop would be. But have not had a position until today, the game changes a bit as I take on more risk.</p><p><blockquote>快速浏览一下技术面，我们可以看到几个非常强大的支撑位。首先，我们今天突破了30美元的一个相当大的水平，而且是以一种很大的方式突破的，这在短期内有点令人担忧，但有可能快速反弹以迅速重新测试30美元大关。如果说这些市场教会了我们什么，那就是它们可以快速行动！在正常情况下，这可能是我的停留点。但是直到今天我才有了头寸，随着我承担更多的风险，游戏发生了一些变化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6b568bf73db2c1b38aaa1546a10427dc\" tg-width=\"3837\" tg-height=\"1813\"></p><p><blockquote></blockquote></p><p> (Source: TC2000.com)</p><p><blockquote>（来源：TC2000.com）</blockquote></p><p> When a stock as popular as Palantir tanks like we saw today, one of two things happens. Either the dip gets bought up and this stock will fly back up to $40, or we see Palantir drop down to ~$23. Because the stock is so new, we really do not have a good gauge for support. Looking below we can see roughly where I am pulling $23 out of. This is a pretty substantial move from here yet. Would be about 20% to the downside. If $23 breaks, it could go even further south.</p><p><blockquote>当像Palantir这样受欢迎的股票像我们今天看到的那样下跌时，会发生两件事之一。要么逢低买入，这只股票将飞回40美元，要么我们看到Palantir跌至23美元左右。因为股票太新了，我们确实没有一个好的支撑指标。看下面，我们可以大致看到我从哪里提取了23美元。这是一个相当大的举措。大约会下降20%。如果突破23美元，它可能会进一步下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e3505c465c407b7387cbedf16a1b233\" tg-width=\"3840\" tg-height=\"1808\"></p><p><blockquote></blockquote></p><p> (Source: TC2000.com)</p><p><blockquote>（来源：TC2000.com）</blockquote></p><p> When trying to catch the bounce, you have to be prepared to average down. It is a totally different approach. Scale in, and scale-out.... all while knowing when to cut it loose. If you want to play this safe, watch for the bounce and try and get in then. I do think there will be a decent bounce that takes the stock back to $36-$40, but the question is when. This is not a long-term hold for me personally.</p><p><blockquote>当试图抓住反弹时，你必须做好平均下跌的准备。这是一种完全不同的方法。横向扩展和横向扩展....同时知道什么时候该放松。如果你想安全起见，留意反弹，然后试着进去。我确实认为该股会出现不错的反弹，回到36-40美元，但问题是什么时候。这对我个人来说不是长期持有的。</blockquote></p><p> <b>Wrap-Up</b></p><p><blockquote><b>总结</b></blockquote></p><p> As you can see, there is a lot to like about the direction in which the company is headed. The valuation can always be debated, but at the end of the day, the value is whatever someone is willing to pay for it. Palantir is a revenue machine and it is not going to slow down. They are playing with the \"big fish\" and the revenue will follow as long as they can continue to deliver on their goals. I am currently long, but watching closely as the lock-up period ends this week. If you are going long, make sure to scale in over the next couple of days and place your bets for which way this goes next week. Stay safe out there!</p><p><blockquote>正如您所看到的，公司的发展方向有很多值得喜欢的地方。估值总是可以争论的，但归根结底，价值就是有人愿意为此付出的任何代价。Palantir是一台收入机器，而且不会放缓。他们在玩“大鱼”，只要他们能继续实现目标，收入就会随之而来。我目前做多，但密切关注本周禁售期结束。如果你打算做多，确保在接下来的几天里扩大规模，并为下周的走势下注。在外面注意安全！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4406809-palantir-buy-the-dip\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4406809-palantir-buy-the-dip","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100960455","content_text":"Summary\n\nPalantir posted solid revenue, but missed on earnings. The future forecast was a bit disappointing.\nPalantir is expecting 30% year-over-year revenue growth after posting 47% growth for 2020.\nPalantir continues to grow its client base across multiple industries.\nPalantir's lock-up period ends on February 19th. Place your bets!\n\nOne of the hotter stocks as of late is recent Direct Listing, Palantir Technologies Inc. (PLTR). Some investors were expecting the company was expected to release blowout earnings today and fell short of that. The company did post incredible revenue growth, and the path forward looks bright as well. However, investors were disappointed with just how bright that picture is according to the company. The stock is falling leading up to the end of the lock-up period as expected. Next week will tell a better story as to where this stock is headed. If you are feeling risky, jump aboard.\nWho Are They?\nIf you are like me, you likely had no idea who this company was or what they did. Well, Palantir Technologies Inc. has been around since 2003 and is headquartered in Denver, Colorado. In short,they build and deploy software platforms for the intelligence community in the USA to assist in counterterrorism investigations and operations.\nPalantir Gothamis a software program that identifies patterns hidden deep within datasets. This helps execute real-world responses to threats that have been identified within the platform. This was used in the efforts to help those in need in hurricane Florence in 2018. Palantir Gothamcombined publicly available flood data with weather information and social vulnerability census data to find the communities in greatest needand resources were deployed appropriately. More recently, they are providing the U.S. government with coronavirus tracking software.\nThe company also provides Palantir Foundry,a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place.\nPretty cool hey?\nWhat Is Driving The Company?\nRevenue. This is a growth play, plain and simple. Looking below we can see what is forecasted down the pipe. The missing block is 2020, which we found out todaywas $1.1 billion. That is a ~47% increase year-over-year. Going forward, analysts are projecting the pace stays heavy at 35%+ per year revenue growth. Often we consider 20% being strong, so that makes this look really good. For the fourth quarter, the company posted $322.1 million in revenue for the quarter, which was a beat by 20%.\n\n(Source: TIKR.com)\nThe shock came from theloss per share which totaled $0.08 versus the positive $0.02 consensus. The stock fell over 12% today on the earnings news. Upon diving deeper, it would appear most investors were disappointed with the forward forecasts. I personally think they are sandbagging a bit to blow away consensus down the line, but time will tell how true that is. Based on everything the company had put out in terms of news, which is nicely outlined inJohn Rhodes article : Palantir: Potential Q4 Revenue Blowoutmost people expected the revenue beat, but the action in the stock over the last week showed otherwise.\nData has become more relevant to the average person than ever before. The local news has all kinds of data on it when it comes to COVID-19.In 2020, Palantir helped 100 commercial organizations and 10 national governments respond to COVID-19. This has been a large opportunity for Palantir, and they have not squandered it. This response has helped earn thema 2-year contract for U.K. health services work worth $31.5 million. In the fourth quarter alone, the company signed21 deals worth more than $5 million. 12 of which were worth $10 million or more. Revenue growth will continue to be the future of Palantir.\nSome of the best business going is government business. For the year, Palantir saw56% of their revenue or $610 million come from government contracts. While the commercial side saw higher year-over-year growth at 107%, a 77% increase in government-based revenue isn't anything to laugh at. One of the more impressive pieces was that we saw happen with the average customer.Revenue increased by 41% year-over-year. Up to $7.9 million per customer from $5.6 million. This is an important metric to keep an eye on as customers hand more and more business over to Palantir as they continue to develop and improve their systems. The other factor playing into this is Palantir pulling larger customers into the fold. The new customers acquired in 2020, generated $42 million in revenue.\n\n(Company Presentation)\nSo all of this and we still sit down 12% today? As I mentioned above, it was the forward forecasts that people were a bit shocked at. Palantir said toexpect revenue growth in excess of 30% for 2021. This would be fantastic news for most companies, but after you just posted a 47% growth year, it is a bit saddening. But as I said, I think they are sandbagging a bit. Analysts are still projecting about a 35% increase for 2021. Something tells me they will outdo that as the year goes on. The company did state that they are targeting $4 billion in revenue by 2025, which carrying 30% per year growth from here will get you. I fully expect that number to creep closer to $5 billion based on current projections. Palantir is going after the \"big fish\" across multiple industries.8 of their customers fall into the Fortune 100, and 12 of the Global 100. As their products continue to develop and improve, their bottom line is only going to get better. I think there is a lot of room to run here in the long term.\nWhat Are The Risks?\nOne of the up-and-coming risks is the lock-up period ending, which I will touch on below. Besides that, I will look at the government contracts. Yes, they are some of the most important, but that's not to say they come without risk. In the past, Palantir has said they need to focus more so on commercial customers to help the bottom line and to turn a profit (part of the reason for the earnings sell-off). As we can see, they have landed some big-time commercial clients, but that government aspect still exists.\nSomething to keep in mind as well is that dealing with the government can lead to crossing some lines that some are not okay with. As reported by the Washington Post,in 2018, more than 200 employees signed a letter to CEO Alex Karp, citing concerns over a partnership with Immigration and Customs Enforcement. Multiple other big tech companies have been forced to cut ties with government agencies in the past over potential human rights violations.\nThat said, I do really think the company will continue to do very well in the commercial sector and well reduce the overall government exposure overtime.\nWhat's The \"Lock-Up Period\"?\nThe one concern many have had with Palantir is the lock-up period, which ends on February 19th (Friday). Typically, this is where we will see the lows kick in on IPO's that go this route, but it is not always the case.\n\n Looking at 15 stocks that sawtheir lock-up periods expire in the first two weeks of October, the majority of shares started to fall in the days before the expiration date, prior to bouncing back three to five days afterwards. However, some saw virtually no selling pressure on the day and the share price immediately climbed once the lock-up had ended.\n\nWhat is it? Well in short, instead of an IPO where new shares of the company are created and are underwritten by an intermediary, we have a Direct Listing. This is wherethe business sells shares directly to the public without the help of any intermediaries. It does not involve any underwriters or other intermediaries, there are no new shares issued. This means the largest shareholders in the business can only freely sell their shares after the IPO lock-up expiration. Spotify (SPOT) and Slack (WORK) are two examples of companies that went the Direct Listing route. That said, neither of these companies had lock-up periods for employees.\nSo what does this mean? Well, given thatMarketWatch said:\n\n For Palantir, though, years of venture-capital investments have created more than enough shares to launch public trading: roughly 1.64 billion, though that grows to 2.17 billion in a fully diluted formula that includes vesting options.\n\nIt means that with roughly 497 million current outstanding shares, that we could see about 1.7 billion shares hit the market. Now that is not really likely, but what it does mean is that there should be less than average selling pressure on the stock considering the usually IPO accounts for 10% of shares released, while Palantir released over 20% based on the numbers provided above.\nWhere are we now? Well as per the study quoted earlier, we are right on track. The stock is selling off in an orderly fashion right before the lock-up period ends. Now we have to wait and see what the rebound looks like. Or does everyone sell high and try and buy even lower? It is a bit of a wait-and-see. Let's take a look at what the technicals show us.\nWhat Does The Price Say?\nTaking a quick peek at the technicals, we can see a couple of really strong support levels. Firstly, we broke through a pretty big one at $30 today and did so in a big way, which is a bit concerning in the short term, but there is potential for a quick bounce to re-test that $30 mark quickly. If these markets have taught us anything, it's that they can move quickly! In a normal case, this is probably where my stop would be. But have not had a position until today, the game changes a bit as I take on more risk.\n\n(Source: TC2000.com)\nWhen a stock as popular as Palantir tanks like we saw today, one of two things happens. Either the dip gets bought up and this stock will fly back up to $40, or we see Palantir drop down to ~$23. Because the stock is so new, we really do not have a good gauge for support. Looking below we can see roughly where I am pulling $23 out of. This is a pretty substantial move from here yet. Would be about 20% to the downside. If $23 breaks, it could go even further south.\n\n(Source: TC2000.com)\nWhen trying to catch the bounce, you have to be prepared to average down. It is a totally different approach. Scale in, and scale-out.... all while knowing when to cut it loose. If you want to play this safe, watch for the bounce and try and get in then. I do think there will be a decent bounce that takes the stock back to $36-$40, but the question is when. This is not a long-term hold for me personally.\nWrap-Up\nAs you can see, there is a lot to like about the direction in which the company is headed. The valuation can always be debated, but at the end of the day, the value is whatever someone is willing to pay for it. Palantir is a revenue machine and it is not going to slow down. They are playing with the \"big fish\" and the revenue will follow as long as they can continue to deliver on their goals. I am currently long, but watching closely as the lock-up period ends this week. If you are going long, make sure to scale in over the next couple of days and place your bets for which way this goes next week. Stay safe out there!","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387921519,"gmtCreate":1613711670831,"gmtModify":1634552542852,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"💎🙌🏼","listText":"💎🙌🏼","text":"💎🙌🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387921519","repostId":"1103921295","repostType":4,"repost":{"id":"1103921295","kind":"news","pubTimestamp":1613706165,"share":"https://www.laohu8.com/m/news/1103921295?lang=zh_CN&edition=full","pubTime":"2021-02-19 11:42","market":"us","language":"en","title":"GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103921295","media":"Marketwatch","summary":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressiona","content":"<p>  <b>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.</b>  YOLO? Maybe not quite so.</p><p><blockquote><b>Robinhood首席执行官Vlad Tenev在关于游戏驿站兴衰的国会听证会上讨论了平均账户规模和用户人口统计数据。</b>约洛？也许不完全是这样。</blockquote></p><p> During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.</p><p><blockquote>在游戏驿站交易狂潮期间，一些观察人士担心，许多在Reddit的WallStreetBets等网站上聚集在一起的新手散户投资者会下大赌注——用论坛的俚语来说就是所谓的“YOLO交易”——最终输得很惨。</blockquote></p><p> No doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.</p><p><blockquote>盈透证券集团创始人兼董事长托马斯·彼得菲表示，毫无疑问，这是一个震惊股市的严重事件，使其“危险地接近”崩溃。</blockquote></p><p> But at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.</p><p><blockquote>但在周四举行的备受关注的关于游戏驿站股票和其他所谓“模因股票”涨跌的国会听证会上，交易风暴中的一位关键人物的声明显示，年轻投资者通常不会下大赌注以获得快速收益。</blockquote></p><p> “Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.</p><p><blockquote>Robinhood首席执行官弗拉德·特涅夫(Vlad Tenev)表示：“与一些极具误导性和高度不知情的报道相反，我们看到证据表明我们的大多数客户都在进行长期投资。”Robinhood是一个受欢迎的交易平台，因暂时限制GameStopGME的交易而引起了大规模关注，-11.43%，AMC EntertainmentAMC，-0.72%和其他几家公司。随着听证会的继续，他在议员的提问下重复了这一点。</blockquote></p><p> “What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.</p><p><blockquote>特涅夫在听证会前提交的准备好的证词中写道：“我们所看到的通常与流行的模因不一致，这些模因表明我们的大多数经纪客户都是不成熟的日内交易者，在复杂的金融产品上投入大量资金承担了过度的风险。”他的公司鼓励在一个拥有1300万用户的平台上进行鲁莽交易的想法。</blockquote></p><p> Just 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.</p><p><blockquote>他说，只有2%的Robinhood用户符合“模式日内交易者”的资格，他们在五个工作日内进行了四笔或更多交易。13%的人交易基本期权合约，这可能比直接买入或卖出风险更高，回报更高。</blockquote></p><p> In the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.</p><p><blockquote>面对一些尖锐的问题，他还坚称Robinhood并没有试图将用户体验变成游戏。“我们知道投资是严肃的，这就是为什么我们的大多数客户都是买入并持有，”他说。</blockquote></p><p> (Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)</p><p><blockquote>（在游戏驿站事件发生之前，马萨诸塞州监管机构对Robinhood提起诉讼，指控其让交易看起来太有趣，直到发生损失。该公司此前表示对这一指控提出异议。）</blockquote></p><p> Tenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.</p><p><blockquote>特涅夫和立法者就罗宾汉在游戏驿站传奇中应该做什么和不应该做什么进行了争论。游戏驿站股价一度交易到483美元的高点。截至周四收盘，游戏驿站股价为40.69美元。</blockquote></p><p> But either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.</p><p><blockquote>但不管怎样，特涅夫的证词让我们有趣地了解了谁是最新的散户投资者以及他们向市场投入了多少资金。毕竟，在游戏驿站大戏开始之前，散户投资者就已经越来越多地进入股市。</blockquote></p><p> Fifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.</p><p><blockquote>根据aGallup去年的调查，55%的美国人直接拥有股票，而18至29岁的人中有32%表示他们拥有股票。</blockquote></p><p> The median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.</p><p><blockquote>Robinhood投资者的平均年龄为31岁，一半的用户表示他们是首次投资者。根据Tenev的声明，账户规模中位数约为240美元，平均账户规模约为5,000美元。</blockquote></p><p> The fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”</p><p><blockquote>13%的Robinhood用户正在交易期权，这一事实让一些倡导者犹豫了。美国消费者联合会投资者保护主任芭芭拉·罗珀(Barbara Roper)表示，“考虑到Robinhood客户群的特征（不成比例的年轻、账户较小的首次投资者），我们发现这一比例相当高。”</blockquote></p><p> Robinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.</p><p><blockquote>根据特涅夫的证词，Robinhood投资者的种族也往往更加多元化。根据Tenev的声明，9%的用户是黑人，而其他公司的这一比例为3%；16%是西班牙裔，而其他公司的这一比例为7%。</blockquote></p><p> “Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.</p><p><blockquote>卡托研究所金融监管研究主任詹妮弗·舒尔普(Jennifer Schulp)表示：“构成这一新浪潮的散户投资者有所不同。”</blockquote></p><p> Retail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”</p><p><blockquote>舒尔普说，散户投资者在华尔街被戏称为“傻钱”。“我认为这是一种侮辱。我认为这个词需要被抛弃。我认为游戏驿站的情况证明散户投资者正在彻底改变市场……我认为这里的散户投资者正在边做边学，这是最好的学习方式之一。”</blockquote></p><p> She pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.</p><p><blockquote>她指出，FINRA投资者教育基金会本月早些时候发布的研究深入研究了新散户投资者的人口统计数据和账户余额。</blockquote></p><p> One-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.</p><p><blockquote>2020年首次开设应税投资账户的新投资者中有三分之一表示，他们的账户余额低于500美元，而经验丰富的投资者这一比例为16%。23%的新投资者的账户余额高达2,000美元。20%有经验的投资者的账户余额高达2,000美元。</blockquote></p><p></p><p> The survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.</p><p><blockquote>调查发现，新投资者的种族更加多元化，17%的新投资者是黑人。调查显示，有经验的投资者中有7%是黑人。</blockquote></p><p> As the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.</p><p><blockquote>随着听证会的继续，一些议员质疑是否需要设置更多护栏，而另一些议员则表示，议员不应该屈尊于散户投资者，并认为他们最了解。</blockquote></p><p> “Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”</p><p><blockquote>众议院金融服务委员会主席、众议员玛克辛·沃特斯表示：“许多美国人认为这个体系对他们不利，无论如何，华尔街总是获胜。”“在这种情况下，许多散户投资者似乎是出于在华尔街自己的游戏中击败华尔街的愿望，考虑到许多散户投资者因系统波动而遭受的损失，许多人认为该系统是针对他们的操纵行为得到了加强。”</blockquote></p><p> The GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.</p><p><blockquote>该委员会资深共和党众议员Patrick McHenry表示，游戏驿站事件是一个“根本性的变化”。社交媒体和投资者唾手可得的大量新信息推动了交易的激增。</blockquote></p><p> “I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”</p><p><blockquote>麦克亨利说：“我认为，如果说我们从过去几周中学到了什么的话，那就是这些普通的日常投资者非常老练。”“群众有智慧。”</blockquote></p><p> The government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”</p><p><blockquote>他说，政府需要让普通投资者更容易买入市场。“与其通过新法规、新形式的税收或所谓的保护措施将美国公众拒之门外，不如利用这个机会站在他们一边。”</blockquote></p><p> One of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.</p><p><blockquote>目击者之一是基思·吉尔(Keith Gill)，他是一位34岁的独立投资者，拥有“咆哮的小猫”等在线账号，他将自己在游戏驿站的投资变成了数百万美元。他告诉国会，他所有的投资决策都是根据公开信息做出的。</blockquote></p><p> “I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”</p><p><blockquote>吉尔说：“我是第一个承认投资股票和期权风险极高的人，人们在投资前进行彻底的研究非常重要。”“人们应该能够自由表达他们对股票的看法，并且他们应该能够根据这些观点购买或不购买股票。”</blockquote></p><p> GameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average&nbsp;is up nearly 3% and the S&amp;P 500&nbsp;is up more than 4% in 2021.</p><p><blockquote>游戏驿站股价今年迄今已上涨近116%。2021年，道琼斯工业平均指数上涨近3%，标普500上涨超过4%。</blockquote></p><p></p>","source":"market_watch","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>GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</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\">\nGameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-02-19 11:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.</b>  YOLO? Maybe not quite so.</p><p><blockquote><b>Robinhood首席执行官Vlad Tenev在关于游戏驿站兴衰的国会听证会上讨论了平均账户规模和用户人口统计数据。</b>约洛？也许不完全是这样。</blockquote></p><p> During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.</p><p><blockquote>在游戏驿站交易狂潮期间，一些观察人士担心，许多在Reddit的WallStreetBets等网站上聚集在一起的新手散户投资者会下大赌注——用论坛的俚语来说就是所谓的“YOLO交易”——最终输得很惨。</blockquote></p><p> No doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.</p><p><blockquote>盈透证券集团创始人兼董事长托马斯·彼得菲表示，毫无疑问，这是一个震惊股市的严重事件，使其“危险地接近”崩溃。</blockquote></p><p> But at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.</p><p><blockquote>但在周四举行的备受关注的关于游戏驿站股票和其他所谓“模因股票”涨跌的国会听证会上，交易风暴中的一位关键人物的声明显示，年轻投资者通常不会下大赌注以获得快速收益。</blockquote></p><p> “Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.</p><p><blockquote>Robinhood首席执行官弗拉德·特涅夫(Vlad Tenev)表示：“与一些极具误导性和高度不知情的报道相反，我们看到证据表明我们的大多数客户都在进行长期投资。”Robinhood是一个受欢迎的交易平台，因暂时限制GameStopGME的交易而引起了大规模关注，-11.43%，AMC EntertainmentAMC，-0.72%和其他几家公司。随着听证会的继续，他在议员的提问下重复了这一点。</blockquote></p><p> “What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.</p><p><blockquote>特涅夫在听证会前提交的准备好的证词中写道：“我们所看到的通常与流行的模因不一致，这些模因表明我们的大多数经纪客户都是不成熟的日内交易者，在复杂的金融产品上投入大量资金承担了过度的风险。”他的公司鼓励在一个拥有1300万用户的平台上进行鲁莽交易的想法。</blockquote></p><p> Just 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.</p><p><blockquote>他说，只有2%的Robinhood用户符合“模式日内交易者”的资格，他们在五个工作日内进行了四笔或更多交易。13%的人交易基本期权合约，这可能比直接买入或卖出风险更高，回报更高。</blockquote></p><p> In the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.</p><p><blockquote>面对一些尖锐的问题，他还坚称Robinhood并没有试图将用户体验变成游戏。“我们知道投资是严肃的，这就是为什么我们的大多数客户都是买入并持有，”他说。</blockquote></p><p> (Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)</p><p><blockquote>（在游戏驿站事件发生之前，马萨诸塞州监管机构对Robinhood提起诉讼，指控其让交易看起来太有趣，直到发生损失。该公司此前表示对这一指控提出异议。）</blockquote></p><p> Tenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.</p><p><blockquote>特涅夫和立法者就罗宾汉在游戏驿站传奇中应该做什么和不应该做什么进行了争论。游戏驿站股价一度交易到483美元的高点。截至周四收盘，游戏驿站股价为40.69美元。</blockquote></p><p> But either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.</p><p><blockquote>但不管怎样，特涅夫的证词让我们有趣地了解了谁是最新的散户投资者以及他们向市场投入了多少资金。毕竟，在游戏驿站大戏开始之前，散户投资者就已经越来越多地进入股市。</blockquote></p><p> Fifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.</p><p><blockquote>根据aGallup去年的调查，55%的美国人直接拥有股票，而18至29岁的人中有32%表示他们拥有股票。</blockquote></p><p> The median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.</p><p><blockquote>Robinhood投资者的平均年龄为31岁，一半的用户表示他们是首次投资者。根据Tenev的声明，账户规模中位数约为240美元，平均账户规模约为5,000美元。</blockquote></p><p> The fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”</p><p><blockquote>13%的Robinhood用户正在交易期权，这一事实让一些倡导者犹豫了。美国消费者联合会投资者保护主任芭芭拉·罗珀(Barbara Roper)表示，“考虑到Robinhood客户群的特征（不成比例的年轻、账户较小的首次投资者），我们发现这一比例相当高。”</blockquote></p><p> Robinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.</p><p><blockquote>根据特涅夫的证词，Robinhood投资者的种族也往往更加多元化。根据Tenev的声明，9%的用户是黑人，而其他公司的这一比例为3%；16%是西班牙裔，而其他公司的这一比例为7%。</blockquote></p><p> “Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.</p><p><blockquote>卡托研究所金融监管研究主任詹妮弗·舒尔普(Jennifer Schulp)表示：“构成这一新浪潮的散户投资者有所不同。”</blockquote></p><p> Retail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”</p><p><blockquote>舒尔普说，散户投资者在华尔街被戏称为“傻钱”。“我认为这是一种侮辱。我认为这个词需要被抛弃。我认为游戏驿站的情况证明散户投资者正在彻底改变市场……我认为这里的散户投资者正在边做边学，这是最好的学习方式之一。”</blockquote></p><p> She pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.</p><p><blockquote>她指出，FINRA投资者教育基金会本月早些时候发布的研究深入研究了新散户投资者的人口统计数据和账户余额。</blockquote></p><p> One-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.</p><p><blockquote>2020年首次开设应税投资账户的新投资者中有三分之一表示，他们的账户余额低于500美元，而经验丰富的投资者这一比例为16%。23%的新投资者的账户余额高达2,000美元。20%有经验的投资者的账户余额高达2,000美元。</blockquote></p><p></p><p> The survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.</p><p><blockquote>调查发现，新投资者的种族更加多元化，17%的新投资者是黑人。调查显示，有经验的投资者中有7%是黑人。</blockquote></p><p> As the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.</p><p><blockquote>随着听证会的继续，一些议员质疑是否需要设置更多护栏，而另一些议员则表示，议员不应该屈尊于散户投资者，并认为他们最了解。</blockquote></p><p> “Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”</p><p><blockquote>众议院金融服务委员会主席、众议员玛克辛·沃特斯表示：“许多美国人认为这个体系对他们不利，无论如何，华尔街总是获胜。”“在这种情况下，许多散户投资者似乎是出于在华尔街自己的游戏中击败华尔街的愿望，考虑到许多散户投资者因系统波动而遭受的损失，许多人认为该系统是针对他们的操纵行为得到了加强。”</blockquote></p><p> The GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.</p><p><blockquote>该委员会资深共和党众议员Patrick McHenry表示，游戏驿站事件是一个“根本性的变化”。社交媒体和投资者唾手可得的大量新信息推动了交易的激增。</blockquote></p><p> “I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”</p><p><blockquote>麦克亨利说：“我认为，如果说我们从过去几周中学到了什么的话，那就是这些普通的日常投资者非常老练。”“群众有智慧。”</blockquote></p><p> The government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”</p><p><blockquote>他说，政府需要让普通投资者更容易买入市场。“与其通过新法规、新形式的税收或所谓的保护措施将美国公众拒之门外，不如利用这个机会站在他们一边。”</blockquote></p><p> One of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.</p><p><blockquote>目击者之一是基思·吉尔(Keith Gill)，他是一位34岁的独立投资者，拥有“咆哮的小猫”等在线账号，他将自己在游戏驿站的投资变成了数百万美元。他告诉国会，他所有的投资决策都是根据公开信息做出的。</blockquote></p><p> “I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”</p><p><blockquote>吉尔说：“我是第一个承认投资股票和期权风险极高的人，人们在投资前进行彻底的研究非常重要。”“人们应该能够自由表达他们对股票的看法，并且他们应该能够根据这些观点购买或不购买股票。”</blockquote></p><p> GameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average&nbsp;is up nearly 3% and the S&amp;P 500&nbsp;is up more than 4% in 2021.</p><p><blockquote>游戏驿站股价今年迄今已上涨近116%。2021年，道琼斯工业平均指数上涨近3%，标普500上涨超过4%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page\">Marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1103921295","content_text":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.\n\nYOLO? Maybe not quite so.\nDuring the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.\nNo doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.\nBut at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.\n“Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.\n“What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.\nJust 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.\nIn the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.\n(Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)\nTenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.\nBut either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.\nFifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.\nThe median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.\nThe fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”\nRobinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.\n“Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.\nRetail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”\nShe pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.\nOne-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.\nThe survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.\nAs the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.\n“Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”\nThe GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.\n“I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”\nThe government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”\nOne of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.\n“I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”\nGameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average is up nearly 3% and the S&P 500 is up more than 4% in 2021.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384144665,"gmtCreate":1613632004957,"gmtModify":1634552864716,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can i get a comment[龇牙]&nbsp;","listText":"Can i get a comment[龇牙]&nbsp;","text":"Can i get a comment[龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/384144665","repostId":"1187263688","repostType":4,"isVote":1,"tweetType":1,"viewCount":1024,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":384964734,"gmtCreate":1613607994828,"gmtModify":1634552982065,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good ![得意]&nbsp;","listText":"Good ![得意]&nbsp;","text":"Good ![得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/384964734","repostId":"2112831524","repostType":4,"isVote":1,"tweetType":1,"viewCount":926,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385651168,"gmtCreate":1613547521154,"gmtModify":1634553213088,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/385651168","repostId":"2112074833","repostType":4,"repost":{"id":"2112074833","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1613547086,"share":"https://www.laohu8.com/m/news/2112074833?lang=zh_CN&edition=full","pubTime":"2021-02-17 15:31","market":"us","language":"en","title":"Tesla May Have Already Made More In Profits From Bitcoin Than Electric Vehicles<blockquote>特斯拉从比特币获得的利润可能已经超过了电动汽车</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2112074833","media":"Benzinga","summary":"Tesla Inc made waves earlier this month by announcing it had purchased $1.5 billion in Bitcoin. The ","content":"<p><b>Tesla Inc</b>&nbsp;made waves earlier this month by announcing it had purchased $1.5 billion in Bitcoin. The move sent the cryptocurrency higher and has also turned in some impressive profits for the electric vehicle maker.</p><p><blockquote><b>特斯拉公司</b>本月早些时候，该公司宣布斥资15亿美元收购比特币，引起了轩然大波。此举推高了加密货币，也为这家电动汽车制造商带来了一些可观的利润。</blockquote></p><p> <b>What Happened:</b>Bitcoinhit $50,000 for thefirst time everon Tuesday, continuing a 2021 rally that has sent the largest cryptocurrency higher on increased adoption and public companies placing bets on the future.</p><p><blockquote><b>发生了什么：</b>比特币周二首次触及50,000美元，延续了2021年的涨势，由于采用率的增加和上市公司对未来的押注，比特币走高。</blockquote></p><p> Tesla&nbsp;purchased$1.5 billion in Bitcoin in the month of January, although the company hasn't revealed its average purchase price of how many Bitcoin it holds.</p><p><blockquote>特斯拉在1月份购买了15亿美元的比特币，尽管该公司尚未透露其持有多少比特币的平均购买价格。</blockquote></p><p> <b>Gains From Bitcoin:</b>In the month of January, Bitcoin traded between $29,333 and $37,020. A $1.5-billion purchase could have gotten Tesla anywhere between 37,020 and 51,137 Bitcoin. The average would come out to 44,079 Bitcoin.</p><p><blockquote><b>比特币收益：</b>1月份，比特币的交易价格在29,333美元至37,020美元之间。15亿美元的收购可能会让特斯拉获得37,020至51,137辆比特币。平均人数为44,079名比特币。</blockquote></p><p> Based on these scenarios, the value of Tesla’s Bitcoin is worth the following with the&nbsp;current Bitcoin price&nbsp;of $48,450.</p><p><blockquote>根据这些情况，特斯拉比特币的价值如下，目前比特币价格为48,450美元。</blockquote></p><p> <ul>  <li>51,137 Bitcoin: $2.48 billion, profit of $0.98 billion</li>  <li>44,079 Bitcoin: $2.14 billion, profit of $0.64 billion</li>  <li>37,020 Bitcoin: $1.79 billion, profit of $0.29 billion</li> </ul> <b>Why It’s Important:</b>Tesla’s Bitcoin purchase created validation of the cryptocurrency for some and is seen as a stepping stone for other publicly traded companies to also make a similar move. The gain on the Bitcoin purchase is also notable as it may be more than Tesla made from its entire business in fiscal 2020.</p><p><blockquote><ul><li>51,137比特币：24.8亿美元，利润9.8亿美元</li><li>44,079比特币：21.4亿美元，利润6.4亿美元</li><li>37,020比特币：17.9亿美元，利润2.9亿美元</li></ul><b>为什么它很重要：</b>特斯拉对比特币的收购为一些人创造了对加密货币的认可，并被视为其他上市公司也采取类似举措的垫脚石。收购比特币的收益也值得注意，因为它可能超过特斯拉在2020财年从其整个业务中获得的收益。</blockquote></p><p> Tesla&nbsp;reported&nbsp;its first profitable year&nbsp;in fiscal 2020 with $721 million, which came after a loss of $862 million in fiscal 2019. Tesla&nbsp;reported&nbsp;only a couple of quarterly profits prior to fiscal 2020.</p><p><blockquote>特斯拉报告称，继2019财年亏损8.62亿美元之后，2020财年首次盈利7.21亿美元。特斯拉在2020财年之前仅公布了几个季度利润。</blockquote></p><p> Given the years of net losses from its business, it’s possible&nbsp;Tesla made more in profit off of its single $1.5 billion Bitcoin purchase than it did off the profits from its cars in the last decade.</p><p><blockquote>考虑到其业务多年来的净亏损，特斯拉从单笔15亿美元收购比特币中获得的利润可能比过去十年从其汽车中获得的利润还要多。</blockquote></p><p> Time will tell how many Bitcoin Tesla owns and if the company is planning to hold for the long haul or will sell some for profits.</p><p><blockquote>时间会证明特斯拉拥有多少比特币股份，以及该公司是否计划长期持有或出售部分股份以获取利润。</blockquote></p><p> <b>TSLA Price Action:</b>Shares of Tesla were down 2% to $796.22 on Tuesday.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周二下跌2%，至796.22美元。</blockquote></p><p></p>","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>Tesla May Have Already Made More In Profits From Bitcoin Than Electric Vehicles<blockquote>特斯拉从比特币获得的利润可能已经超过了电动汽车</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\">\nTesla May Have Already Made More In Profits From Bitcoin Than Electric Vehicles<blockquote>特斯拉从比特币获得的利润可能已经超过了电动汽车</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-02-17 15:31</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Tesla Inc</b>&nbsp;made waves earlier this month by announcing it had purchased $1.5 billion in Bitcoin. The move sent the cryptocurrency higher and has also turned in some impressive profits for the electric vehicle maker.</p><p><blockquote><b>特斯拉公司</b>本月早些时候，该公司宣布斥资15亿美元收购比特币，引起了轩然大波。此举推高了加密货币，也为这家电动汽车制造商带来了一些可观的利润。</blockquote></p><p> <b>What Happened:</b>Bitcoinhit $50,000 for thefirst time everon Tuesday, continuing a 2021 rally that has sent the largest cryptocurrency higher on increased adoption and public companies placing bets on the future.</p><p><blockquote><b>发生了什么：</b>比特币周二首次触及50,000美元，延续了2021年的涨势，由于采用率的增加和上市公司对未来的押注，比特币走高。</blockquote></p><p> Tesla&nbsp;purchased$1.5 billion in Bitcoin in the month of January, although the company hasn't revealed its average purchase price of how many Bitcoin it holds.</p><p><blockquote>特斯拉在1月份购买了15亿美元的比特币，尽管该公司尚未透露其持有多少比特币的平均购买价格。</blockquote></p><p> <b>Gains From Bitcoin:</b>In the month of January, Bitcoin traded between $29,333 and $37,020. A $1.5-billion purchase could have gotten Tesla anywhere between 37,020 and 51,137 Bitcoin. The average would come out to 44,079 Bitcoin.</p><p><blockquote><b>比特币收益：</b>1月份，比特币的交易价格在29,333美元至37,020美元之间。15亿美元的收购可能会让特斯拉获得37,020至51,137辆比特币。平均人数为44,079名比特币。</blockquote></p><p> Based on these scenarios, the value of Tesla’s Bitcoin is worth the following with the&nbsp;current Bitcoin price&nbsp;of $48,450.</p><p><blockquote>根据这些情况，特斯拉比特币的价值如下，目前比特币价格为48,450美元。</blockquote></p><p> <ul>  <li>51,137 Bitcoin: $2.48 billion, profit of $0.98 billion</li>  <li>44,079 Bitcoin: $2.14 billion, profit of $0.64 billion</li>  <li>37,020 Bitcoin: $1.79 billion, profit of $0.29 billion</li> </ul> <b>Why It’s Important:</b>Tesla’s Bitcoin purchase created validation of the cryptocurrency for some and is seen as a stepping stone for other publicly traded companies to also make a similar move. The gain on the Bitcoin purchase is also notable as it may be more than Tesla made from its entire business in fiscal 2020.</p><p><blockquote><ul><li>51,137比特币：24.8亿美元，利润9.8亿美元</li><li>44,079比特币：21.4亿美元，利润6.4亿美元</li><li>37,020比特币：17.9亿美元，利润2.9亿美元</li></ul><b>为什么它很重要：</b>特斯拉对比特币的收购为一些人创造了对加密货币的认可，并被视为其他上市公司也采取类似举措的垫脚石。收购比特币的收益也值得注意，因为它可能超过特斯拉在2020财年从其整个业务中获得的收益。</blockquote></p><p> Tesla&nbsp;reported&nbsp;its first profitable year&nbsp;in fiscal 2020 with $721 million, which came after a loss of $862 million in fiscal 2019. Tesla&nbsp;reported&nbsp;only a couple of quarterly profits prior to fiscal 2020.</p><p><blockquote>特斯拉报告称，继2019财年亏损8.62亿美元之后，2020财年首次盈利7.21亿美元。特斯拉在2020财年之前仅公布了几个季度利润。</blockquote></p><p> Given the years of net losses from its business, it’s possible&nbsp;Tesla made more in profit off of its single $1.5 billion Bitcoin purchase than it did off the profits from its cars in the last decade.</p><p><blockquote>考虑到其业务多年来的净亏损，特斯拉从单笔15亿美元收购比特币中获得的利润可能比过去十年从其汽车中获得的利润还要多。</blockquote></p><p> Time will tell how many Bitcoin Tesla owns and if the company is planning to hold for the long haul or will sell some for profits.</p><p><blockquote>时间会证明特斯拉拥有多少比特币股份，以及该公司是否计划长期持有或出售部分股份以获取利润。</blockquote></p><p> <b>TSLA Price Action:</b>Shares of Tesla were down 2% to $796.22 on Tuesday.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周二下跌2%，至796.22美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112074833","content_text":"Tesla Inc made waves earlier this month by announcing it had purchased $1.5 billion in Bitcoin. The move sent the cryptocurrency higher and has also turned in some impressive profits for the electric vehicle maker.\nWhat Happened:Bitcoinhit $50,000 for thefirst time everon Tuesday, continuing a 2021 rally that has sent the largest cryptocurrency higher on increased adoption and public companies placing bets on the future.\nTesla purchased$1.5 billion in Bitcoin in the month of January, although the company hasn't revealed its average purchase price of how many Bitcoin it holds.\nGains From Bitcoin:In the month of January, Bitcoin traded between $29,333 and $37,020. A $1.5-billion purchase could have gotten Tesla anywhere between 37,020 and 51,137 Bitcoin. The average would come out to 44,079 Bitcoin.\nBased on these scenarios, the value of Tesla’s Bitcoin is worth the following with the current Bitcoin price of $48,450.\n\n51,137 Bitcoin: $2.48 billion, profit of $0.98 billion\n44,079 Bitcoin: $2.14 billion, profit of $0.64 billion\n37,020 Bitcoin: $1.79 billion, profit of $0.29 billion\n\nWhy It’s Important:Tesla’s Bitcoin purchase created validation of the cryptocurrency for some and is seen as a stepping stone for other publicly traded companies to also make a similar move. The gain on the Bitcoin purchase is also notable as it may be more than Tesla made from its entire business in fiscal 2020.\nTesla reported its first profitable year in fiscal 2020 with $721 million, which came after a loss of $862 million in fiscal 2019. Tesla reported only a couple of quarterly profits prior to fiscal 2020.\nGiven the years of net losses from its business, it’s possible Tesla made more in profit off of its single $1.5 billion Bitcoin purchase than it did off the profits from its cars in the last decade.\nTime will tell how many Bitcoin Tesla owns and if the company is planning to hold for the long haul or will sell some for profits.\nTSLA Price Action:Shares of Tesla were down 2% to $796.22 on Tuesday.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":802,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382280061,"gmtCreate":1613451484653,"gmtModify":1634553624842,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/382280061","repostId":"2111004392","repostType":4,"isVote":1,"tweetType":1,"viewCount":734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":363242242,"gmtCreate":1614146382286,"gmtModify":1634550984907,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can I have a like[得意]&nbsp;","listText":"Can I have a like[得意]&nbsp;","text":"Can I have a like[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/363242242","repostId":"1186371880","repostType":4,"isVote":1,"tweetType":1,"viewCount":4413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360550726,"gmtCreate":1613958684265,"gmtModify":1634551773668,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Help to like &amp; comment, thanks![开心]&nbsp;","listText":"Help to like &amp; comment, thanks![开心]&nbsp;","text":"Help to like & comment, thanks![开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360550726","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":1479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":369583995,"gmtCreate":1614058677717,"gmtModify":1634551351386,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Can I have a like &amp; comment [得意]&nbsp;","listText":"Can I have a like &amp; comment [得意]&nbsp;","text":"Can I have a like & comment [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/369583995","repostId":"1175924985","repostType":4,"repost":{"id":"1175924985","kind":"news","pubTimestamp":1614058173,"share":"https://www.laohu8.com/m/news/1175924985?lang=zh_CN&edition=full","pubTime":"2021-02-23 13:29","market":"us","language":"en","title":"‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175924985","media":"MarketWatch","summary":"Berkshire Hathaway’s trailing 15-year return is now below the S&P 500\nShould investors continue to g","content":"<p>Berkshire Hathaway’s trailing 15-year return is now below the S&amp;P 500</p><p><blockquote>Berkshire Hathaway过去15年的回报率目前低于标普500</blockquote></p><p> Should investors continue to give Warren Buffett the benefit of the doubt?</p><p><blockquote>投资者应该继续相信沃伦·巴菲特吗？</blockquote></p><p> That is the big question for Berkshire Hathaway&nbsp;shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.</p><p><blockquote>对于伯克希尔哈撒韦公司股东来说，这是一个大问题，因为他们预计巴菲特将于2月27日发布致公司股东的年度信。伯克希尔的年度股东大会通常在内布拉斯加州奥马哈举行。但今年将是巴菲特解决这个问题的又一次机会。股东大会定于5月1日举行。</blockquote></p><p> This question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&amp;P 500&nbsp;by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&amp;P 500 by even more in 2019 (20 percentage points), and is now behind the S&amp;P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.</p><p><blockquote>如果2020年——伯克希尔股价落后标普500 16个百分点——只是一个异常，这个问题就不会那么紧迫。但事实并非如此。该股在2019年落后于标普500更多（20个百分点），目前在过去5年、10年和15年期间落后于标普500。这些期限足够长，至少可以满足许多投资者对长期的定义。</blockquote></p><p> I have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.</p><p><blockquote>我不知道巴菲特是否会在信中或在公司年会上谈到伯克希尔股票落后于市场的表现。我向该公司提出的置评请求没有得到答复。但如果他不解决这个问题，我会感到惊讶，在本专栏的其余部分，我想提供一些背景信息，帮助我们理解他可能要说的话的意义。</blockquote></p><p> <b>Will Buffett double down on his bearish stock market outlook?</b></p><p><blockquote><b>巴菲特会加倍看跌股市前景吗？</b></blockquote></p><p> Pay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.</p><p><blockquote>密切关注巴菲特是否会加倍押注他近年来对待股市的看跌姿态。伯克希尔股票的表现落后很大程度上是因为这种看跌情绪。例如，去年第三季度初，该公司坐拥巨额现金——事实上为1,470亿美元。</blockquote></p><p> Given the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&amp;P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&amp;P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&amp;P 500 by a cumulative 15 percentage points.</p><p><blockquote>鉴于伯克希尔的保守姿态，在过去15年里，伯克希尔的股票不需要整体市场大幅下跌就能再次领先于标普500。事实上，我计算出，标普500的表现至少比公司股票差3%，这在熊市中很可能发生。例如，在2007-2009年伴随大金融危机的熊市期间，伯克希尔股价累计跑赢标普500 15个百分点。</blockquote></p><p> My guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”</p><p><blockquote>我的猜测是，巴菲特确实会加倍看跌。考虑一下股市总市值与美国GDP的比率——所谓的巴菲特指标——所讲述的故事。二十年前，巴菲特表示，该比率“可能是衡量任何特定时刻估值水平的最佳单一指标”，因此得名。</blockquote></p><p> This ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.</p><p><blockquote>这一比率现在比美国市场历史上的任何其他时期都要高（因此更加看跌），甚至高于20世纪90年代末互联网泡沫顶部的水平——如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/588c144cbfb44b59031247a976215db3\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> <b>How big of a role has luck played?</b></p><p><blockquote><b>运气起了多大的作用？</b></blockquote></p><p> Another big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&amp;P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.</p><p><blockquote>当你决定是否继续相信巴菲特时，另一个大问题是：仅仅是运气不好就能解释伯克希尔落后于市场的回报吗？这是一个特别重要的问题，因为即使考虑到过去15年，该股的长期记录也非常出色。自1965年以来，伯克希尔股票在股息调整后的年化收益率为20.1%至10.2%，优于标普500。据我所知，在这56年的时间里，没有其他在世的投资者能比得上巴菲特。</blockquote></p><p> To calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&amp;P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?</p><p><blockquote>为了计算运气在业绩中可能扮演的角色，我进行了下面的蒙特卡罗模拟：如果在接下来的15个日历年中，巴菲特的阿尔法（相对于标普500的回报率）都是从巴菲特过去56年的实际阿尔法中随机挑选出来的，会怎么样？如果这个实验运行10,000次会怎么样？</blockquote></p><p> To put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.</p><p><blockquote>为了正确看待我的发现，请考虑一下伯克希尔哈撒韦公司实际上在过去15年中有5年的阿尔法值为负。在我24.4%的模拟中，该公司的股票至少在那么多年里都有负阿尔法。四分之一的几率表明，该公司股票实际阿尔法值为负的年份并没有什么特别不寻常的。</blockquote></p><p> To be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.</p><p><blockquote>可以肯定的是，在我的模拟中，伯克希尔哈撒韦公司在整个15年期间出现负阿尔法的可能性较小。但它仍然发生了——2%的时间。因此，巴菲特过去15年的负阿尔法可能只不过是运气不好。</blockquote></p><p> My vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.</p><p><blockquote>我的投票是继续假定巴菲特是无辜的。今年没有理由比往年更少关注他的股东信。</blockquote></p><p></p>","source":"market_watch","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>‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</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\">\n‘Buffett Indicator’ is alarmingly bearish and this year’s Berkshire shareholder letter could reveal why<blockquote>“巴菲特指标”令人震惊地看跌，今年的伯克希尔股东信可能会揭示原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-23 13:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Berkshire Hathaway’s trailing 15-year return is now below the S&amp;P 500</p><p><blockquote>Berkshire Hathaway过去15年的回报率目前低于标普500</blockquote></p><p> Should investors continue to give Warren Buffett the benefit of the doubt?</p><p><blockquote>投资者应该继续相信沃伦·巴菲特吗？</blockquote></p><p> That is the big question for Berkshire Hathaway&nbsp;shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.</p><p><blockquote>对于伯克希尔哈撒韦公司股东来说，这是一个大问题，因为他们预计巴菲特将于2月27日发布致公司股东的年度信。伯克希尔的年度股东大会通常在内布拉斯加州奥马哈举行。但今年将是巴菲特解决这个问题的又一次机会。股东大会定于5月1日举行。</blockquote></p><p> This question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&amp;P 500&nbsp;by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&amp;P 500 by even more in 2019 (20 percentage points), and is now behind the S&amp;P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.</p><p><blockquote>如果2020年——伯克希尔股价落后标普500 16个百分点——只是一个异常，这个问题就不会那么紧迫。但事实并非如此。该股在2019年落后于标普500更多（20个百分点），目前在过去5年、10年和15年期间落后于标普500。这些期限足够长，至少可以满足许多投资者对长期的定义。</blockquote></p><p> I have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.</p><p><blockquote>我不知道巴菲特是否会在信中或在公司年会上谈到伯克希尔股票落后于市场的表现。我向该公司提出的置评请求没有得到答复。但如果他不解决这个问题，我会感到惊讶，在本专栏的其余部分，我想提供一些背景信息，帮助我们理解他可能要说的话的意义。</blockquote></p><p> <b>Will Buffett double down on his bearish stock market outlook?</b></p><p><blockquote><b>巴菲特会加倍看跌股市前景吗？</b></blockquote></p><p> Pay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.</p><p><blockquote>密切关注巴菲特是否会加倍押注他近年来对待股市的看跌姿态。伯克希尔股票的表现落后很大程度上是因为这种看跌情绪。例如，去年第三季度初，该公司坐拥巨额现金——事实上为1,470亿美元。</blockquote></p><p> Given the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&amp;P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&amp;P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&amp;P 500 by a cumulative 15 percentage points.</p><p><blockquote>鉴于伯克希尔的保守姿态，在过去15年里，伯克希尔的股票不需要整体市场大幅下跌就能再次领先于标普500。事实上，我计算出，标普500的表现至少比公司股票差3%，这在熊市中很可能发生。例如，在2007-2009年伴随大金融危机的熊市期间，伯克希尔股价累计跑赢标普500 15个百分点。</blockquote></p><p> My guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”</p><p><blockquote>我的猜测是，巴菲特确实会加倍看跌。考虑一下股市总市值与美国GDP的比率——所谓的巴菲特指标——所讲述的故事。二十年前，巴菲特表示，该比率“可能是衡量任何特定时刻估值水平的最佳单一指标”，因此得名。</blockquote></p><p> This ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.</p><p><blockquote>这一比率现在比美国市场历史上的任何其他时期都要高（因此更加看跌），甚至高于20世纪90年代末互联网泡沫顶部的水平——如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/588c144cbfb44b59031247a976215db3\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> <b>How big of a role has luck played?</b></p><p><blockquote><b>运气起了多大的作用？</b></blockquote></p><p> Another big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&amp;P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.</p><p><blockquote>当你决定是否继续相信巴菲特时，另一个大问题是：仅仅是运气不好就能解释伯克希尔落后于市场的回报吗？这是一个特别重要的问题，因为即使考虑到过去15年，该股的长期记录也非常出色。自1965年以来，伯克希尔股票在股息调整后的年化收益率为20.1%至10.2%，优于标普500。据我所知，在这56年的时间里，没有其他在世的投资者能比得上巴菲特。</blockquote></p><p> To calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&amp;P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?</p><p><blockquote>为了计算运气在业绩中可能扮演的角色，我进行了下面的蒙特卡罗模拟：如果在接下来的15个日历年中，巴菲特的阿尔法（相对于标普500的回报率）都是从巴菲特过去56年的实际阿尔法中随机挑选出来的，会怎么样？如果这个实验运行10,000次会怎么样？</blockquote></p><p> To put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.</p><p><blockquote>为了正确看待我的发现，请考虑一下伯克希尔哈撒韦公司实际上在过去15年中有5年的阿尔法值为负。在我24.4%的模拟中，该公司的股票至少在那么多年里都有负阿尔法。四分之一的几率表明，该公司股票实际阿尔法值为负的年份并没有什么特别不寻常的。</blockquote></p><p> To be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.</p><p><blockquote>可以肯定的是，在我的模拟中，伯克希尔哈撒韦公司在整个15年期间出现负阿尔法的可能性较小。但它仍然发生了——2%的时间。因此，巴菲特过去15年的负阿尔法可能只不过是运气不好。</blockquote></p><p> My vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.</p><p><blockquote>我的投票是继续假定巴菲特是无辜的。今年没有理由比往年更少关注他的股东信。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buffett-indicator-is-alarmingly-bearish-and-this-years-berkshire-shareholder-letter-could-reveal-why-11613780296?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\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://www.marketwatch.com/story/buffett-indicator-is-alarmingly-bearish-and-this-years-berkshire-shareholder-letter-could-reveal-why-11613780296?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1175924985","content_text":"Berkshire Hathaway’s trailing 15-year return is now below the S&P 500\nShould investors continue to give Warren Buffett the benefit of the doubt?\nThat is the big question for Berkshire Hathaway shareholders as they anticipate Buffett’s annual letter to company shareholders, which is expected to be released on Feb. 27. Berkshire’s annual meeting of shareholders, normally held in Omaha, Neb. but this year remotely, will be another occasion in which Buffett can address this question. The shareholder meeting is scheduled for May 1.\nThis question wouldn’t be so urgent if 2020 — when Berkshire stock lagged the S&P 500 by 16 percentage points — was just an aberration. But it isn’t. The stock lagged the S&P 500 by even more in 2019 (20 percentage points), and is now behind the S&P 500 over the trailing five-, 10- and 15-year periods. Those are long-enough periods to satisfy at least many investors’ definition of the long term.\nI have no idea whether Buffett will address the market-lagging performance of Berkshire stock in his letter or at the company’s annual meeting. My request for comment from the company has gone unanswered. But I would be surprised if he doesn’t address it, and in the rest of this column I want to provide some background information that will help us understand the significance of what he may have to say.\nWill Buffett double down on his bearish stock market outlook?\nPay close attention to whether Buffett doubles down on the bearish posture with which he has approached the stock market in recent years. It’s largely because of that bearishness that Berkshire stock has lagged. At the beginning of last year’s third quarter, for example, the company was sitting on a huge pile of cash — $147 billion, in fact.\nGiven the company’s conservative posture, it wouldn’t take much of a drop in the overall market for Berkshire stock to once again be ahead of the S&P 500 over the trailing 15 years. In fact, I calculate that all it would take would be for the S&P 500 to perform at least 3% worse than the company’s stock, which is quite likely to occur in a bear market. During the 2007-2009 bear market that accompanied the Great Financial Crisis, for example, Berkshire stock beat the S&P 500 by a cumulative 15 percentage points.\nMy guess is that Buffett will indeed double down on his bearishness. Consider the story told by the ratio of the stock market’s total market cap to U.S. GDP — the so-called Buffett Indicator. It got its name two decades ago when Buffett said that the ratio is “probably the best single measure of where valuations stand at any given moment.”\nThis ratio is now higher (and therefore more bearish) than at any other time in U.S. market history, higher even than where it stood at the top of the late 1990s internet bubble — as you can see from the chart below.\n\nHow big of a role has luck played?\nAnother big question as you decide whether to continue giving Buffett the benefit of the doubt: Could mere bad luck account for Berkshire’s market-lagging return? That’s an especially important question to ask, since the stock’s long-term record is nothing short of outstanding — even taking the past 15 years into account. Since 1965, Berkshire stock has outperformed the S&P 500 on a dividend-adjusted basis by the annualized margin of 20.1% to 10.2%. I’m aware of no other investor alive today who has come even close to doing as well as Buffett over this 56-year period.\nTo calculate the role luck may have played in performance, I conducted the following Monte Carlo simulation: What if, in each of the next 15 calendar years, Buffett’s alpha (return relative to the S&P 500) would be picked at random from his actual alphas over the past 56 years? And what if this experiment was run 10,000 times?\nTo put what I found in perspective, consider that Berkshire in fact has had negative alpha in five of the past 15 years. In 24.4% of my simulations, the company’s stock had negative alpha in at least that many years. One-out-of-four odds suggest there is nothing particularly unusual about the number of years in which the company’s stock actually has had negative alpha.\nTo be sure, it was less likely in my simulations for Berkshire to have a negative alpha over the entire 15-year period. But it still did happen — 2% of the time. So it’s possible that Buffett’s negative alpha over the past 15 years is due to nothing more than bad luck.\nMy vote is to continue to give Buffett the benefit of the doubt. There is no reason to pay less attention to his shareholder letter this year than in any prior year.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":386785483,"gmtCreate":1613276021142,"gmtModify":1634554038766,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Like and comment thanks![得意]&nbsp;","listText":"Like and comment thanks![得意]&nbsp;","text":"Like and comment thanks![得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/386785483","repostId":"2110904027","repostType":4,"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":362523132,"gmtCreate":1614650606226,"gmtModify":1703479343609,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362523132","repostId":"2116856399","repostType":4,"isVote":1,"tweetType":1,"viewCount":2866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366729689,"gmtCreate":1614565150541,"gmtModify":1703478244764,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366729689","repostId":"1103930774","repostType":4,"repost":{"id":"1103930774","kind":"news","pubTimestamp":1614334872,"share":"https://www.laohu8.com/m/news/1103930774?lang=zh_CN&edition=full","pubTime":"2021-02-26 18:21","market":"us","language":"en","title":"Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103930774","media":"Motley Fool ","summary":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an intervi","content":"<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>","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>Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">\nWhy QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool </strong><span class=\"h-time small\">2021-02-26 18:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/\">Motley Fool </a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103930774","content_text":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.\nWhat happened\nThe stock of aspiring solid-state battery technology company QuantumScape (NYSE:QS) has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.\nSo what\nShares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the electric-vehicle (EV) sector as a speculative stock hoping to revolutionize EV battery technology.\nToday, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.\nNow what\nDuring today's interview, Singh reiterated some positive developments the company shared with investors last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.\nThe company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.\nSingh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.\nSuccessful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.","news_type":1,"symbols_score_info":{"QS":0.9}},"isVote":1,"tweetType":1,"viewCount":3157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360849722,"gmtCreate":1613890699266,"gmtModify":1634551935095,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Good😁 can I have a like &amp; comment?","listText":"Good😁 can I have a like &amp; comment?","text":"Good😁 can I have a like & comment?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360849722","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382899302,"gmtCreate":1613401721306,"gmtModify":1634553755384,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/382899302","repostId":"2110904027","repostType":4,"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364108683,"gmtCreate":1614820138842,"gmtModify":1703481531097,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"[傲娇]&nbsp;","listText":"[傲娇]&nbsp;","text":"[傲娇]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/364108683","repostId":"2116529000","repostType":4,"isVote":1,"tweetType":1,"viewCount":2801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":365620726,"gmtCreate":1614736570665,"gmtModify":1703480467789,"author":{"id":"3560240325720357","authorId":"3560240325720357","name":"Sengss","avatar":"https://static.tigerbbs.com/931b75866d00dfd47308f4642aca7a40","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560240325720357","authorIdStr":"3560240325720357"},"themes":[],"htmlText":"Wow!","listText":"Wow!","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365620726","repostId":"1199601936","repostType":4,"isVote":1,"tweetType":1,"viewCount":3098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}