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Pflanze

Pflanze

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2021-12-23

There are also price rises in taxes, school fees, public transport, insurances ect. They are never going to reverse and will almost certainly force workers to demand higher wages

After Christmas, Get Ready for the 'Inflation Bullwhip'<blockquote>圣诞节后，为“通胀牛鞭”做好准备</blockquote>

2021-11-09

They are just to big

Buffett Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</blockquote>

2021-10-13

Earning is good

Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>

2021-10-10

Interesting

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2021-10-08

wow

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2021-10-06

Wow

Chief Studios Officer Of Electronic Arts Sold $440K In Stock<blockquote>Electronic Arts首席工作室官出售44万美元库存</blockquote>

2021-10-05

Doesn't go by plan. haha

Fed's Bullard: U.S. businesses having no problems raising prices<blockquote>美联储布拉德：美国企业提价没有问题</blockquote>

2021-10-04

Wow

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2021-10-01

I am not convinced

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2021-09-30

Will keep an eye on it

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2021-09-29

I like it

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2021-09-28

amazing

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2021-09-27

Wow

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2021-09-25

amazing

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2021-09-23

Talk is cheap

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2021-09-20

Nobody could have expected this to run so long

GameStop: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</blockquote>

2021-09-16

Buy $Uranium(UEC)$

U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>

2021-09-15

Amazing

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2021-09-15

OK

U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>

2021-09-14

Amazing marketing in action. Gold not out of dust, but hot air.

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They are never going to reverse and will almost certainly force workers to demand higher wages","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/691787004","repostId":"1166370237","repostType":4,"repost":{"id":"1166370237","kind":"news","pubTimestamp":1640244394,"share":"https://www.laohu8.com/m/news/1166370237?lang=zh_CN&edition=full","pubTime":"2021-12-23 15:26","market":"us","language":"en","title":"After Christmas, Get Ready for the 'Inflation Bullwhip'<blockquote>圣诞节后，为“通胀牛鞭”做好准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166370237","media":"zerohedge","summary":"The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy i","content":"<p>The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"</p><p><blockquote>美国经济即将经历相当于印第安纳·琼斯最喜欢的玩具的经济效应，即所谓的“牛鞭效应”。</blockquote></p><p> All that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.</p><p><blockquote>这意味着，手腕的一个小小的轻轻一弹，就会导致振荡供应链鞭子末端的大动作...通常，鞭子末端有一个“裂缝”。</blockquote></p><p> Investors should expect two things in the next few months...</p><p><blockquote>未来几个月，投资者应该期待两件事...</blockquote></p><p> <ol>  <li>Post-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.</li>  <li>All the talk about inflation – now the highest since 1982 – is going to disappear.</li> </ol> <b>How We Got Here</b></p><p><blockquote><ol><li>相比之下，圣诞节后的购买将使黑色星期五和网络星期一看起来像高价的人行道销售。</li><li>所有关于通货膨胀的讨论——现在是1982年以来的最高水平——都将消失。</li></ol><b>我们是如何来到这里的</b></blockquote></p><p> Millions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically&nbsp;<i>everything</i>... has helped drive a sharp economic recovery.</p><p><blockquote>在COVID-19封锁和大流行刺激现金神奇地存入他们的银行账户后，数百万美国人进入了“善待自己”模式。对PlayStation、木材、本田CRV、LG InstaView冰箱、五件套竹制花园套装的需求<i>一切</i>...帮助推动了经济的急剧复苏。</blockquote></p><p> But too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...</p><p><blockquote>但是太多的人想要东西会导致东西的短缺。没有足够的钱。如果生产的产品减少，短缺会更严重...或者如果它在运输途中被卡住了...</blockquote></p><p> Stimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.</p><p><blockquote>刺激资金满足了被压抑的需求，并将膝盖踢出了全球供应链。</blockquote></p><p> It used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.</p><p><blockquote>苹果(AAPL)iPhone从横跨49个国家的网络获取信息，这曾经是资本主义的一种高度胜利。但在供应链瘫痪的世界里，这是一个令人头疼的问题。</blockquote></p><p> Like other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted...&nbsp;<i>until it stops working</i>.</p><p><blockquote>就像现代文明的其他基础设施一样——例如互联网、电网和蜂窝网络——全球供应链是我们认为理所当然的事情...<i>直到它停止工作</i>.</blockquote></p><p> Still, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.</p><p><blockquote>不过，如果你今天真的想要一些东西——牛柳、iPhone 13、三星65英寸4K电视——你可能愿意花更多钱。毕竟，某样东西的短缺（通常）并不意味着它根本不可用。相反，这意味着价格上涨。</blockquote></p><p> It's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.</p><p><blockquote>毫不奇怪，截至11月份的同比通胀率为6.8%，为1982年以来的最高水平。</blockquote></p><p> <b>The Most Powerful Force in the World</b></p><p><blockquote><b>世界上最强大的力量</b></blockquote></p><p> Inflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as&nbsp;<i>a force that will not be denied</i>...</p><p><blockquote>通货膨胀就在那里，伴随着重力、被蔑视的人的愤怒和饥饿的婴儿，就像<i>一股不可否认的力量</i>...</blockquote></p><p> But for my money, what's more powerful than that force is&nbsp;<b>mean reversion</b>. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.</p><p><blockquote>但在我看来，比那股力量更强大的是<b>均值回归</b>.这意味着每一次强烈的反应，事情最终都会反过来....再次找到通往中间的路。</blockquote></p><p> When applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.</p><p><blockquote>当应用于投资时，均值回归指的是极端的价格变动最终会修正——像橡皮筋一样恢复到均值。当应用于数月的全球供应链紧缩时...迟早，事情会反弹。</blockquote></p><p> We can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.</p><p><blockquote>我们已经可以从货物运输成本的大幅下降中看到这一点。衡量干货运力需求的波罗的海干散货运力指数在10月初触及15年来的高点，此后已下跌一半以上。运费正在下降，可用的船舶存储能力正在上升——这与全球供应链面临压力时发生的情况相反。</blockquote></p><p> Meanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.</p><p><blockquote>与此同时，一些全球汽车制造商表示，他们预计半导体供应将增加...芯片的短缺一直是汽车的一大瓶颈，其他使用微芯片的东西也是如此——从手机到汽车再到足球头盔。</blockquote></p><p> And since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.</p><p><blockquote>自9月份以来，Markit采购经理人指数的月度制造业数据显示，以越南和马来西亚为首的亚洲大部分地区都出现了强劲改善……这意味着整个地区——世界六大制造业国家中的四个——的产出正在反弹。</blockquote></p><p> <b>Here Comes the Bullwhip</b></p><p><blockquote><b>牛鞭来了</b></blockquote></p><p> You know what comes next.</p><p><blockquote>你知道接下来会发生什么。</blockquote></p><p> Retailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.</p><p><blockquote>花了几个月时间向消费者道歉的零售商即将发现自己被商品淹没了。所有好市多的沙发、速溶壶、芒果干包、特斯拉和其他所有订购的东西都会到达...还有很多没有订购的东西。</blockquote></p><p> Shortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"</p><p><blockquote>短缺会变成过剩，“断货”会变成“减库存销售”。</blockquote></p><p> The \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.</p><p><blockquote>“牛鞭效应”是当需求扭曲误导供应链时会发生的事情...它即将全力袭来。</blockquote></p><p> So if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.</p><p><blockquote>因此，如果你能说服家人推迟一段时间过圣诞节，明年你的圣诞钱会有更多的回报。这是因为一切都将成为所有销售之母，因为全球供应链最终会堵塞所有尚未上路的商品。</blockquote></p><p> <b>The Ultimate Contrarian Indicator</b></p><p><blockquote><b>终极反向指标</b></blockquote></p><p> And there's another positive side effect...&nbsp;<i>lower inflation</i>.</p><p><blockquote>还有另一个积极的副作用...<i>降低通货膨胀</i>.</blockquote></p><p> It's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.</p><p><blockquote>这并不复杂...随着整个经济中商品价格上涨压力的消散，通胀将会下降。</blockquote></p><p></p><p> <i>New York Times</i>bestselling author Jim Rickards&nbsp;recently appeared on my colleague Daniela Cambone's show&nbsp;to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)</p><p><blockquote><i>纽约时报</i>畅销书作家吉姆·里卡兹（Jim Rickards）最近出现在我的同事丹妮拉·坎伯恩（Daniela Cambone）的节目中说，由于美联储预计即将加息，你应该“预计通胀会很快下降”....他预测，你可能会看到严重的“紧缩变成疲软”，明年可能会加息三次。（Quoth the Raven也在本网站上报道了那次采访。）</blockquote></p><p> What's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.</p><p><blockquote>此外，通胀下降还有另一个原因...美联储主席杰罗姆·鲍威尔终于举起了白旗，承认通胀不是“暂时的”。这是美联储首选的通胀术语，通胀全年一直在稳步上升，从1月份的年率1.4%升至11月份的6.8%。</blockquote></p><p> \"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.</p><p><blockquote>“暂时性”表明，随着经济摆脱大流行引发的供应短缺，以及COVID-19刺激现金推动的需求消散，近期的价格上涨将逐渐消失。</blockquote></p><p> And ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months –&nbsp;<i>it's finally going to go away</i>.</p><p><blockquote>具有讽刺意味的是，正如美联储承认显而易见的事实——通胀将持续超过几个月——<i>它终于要消失了</i>.</blockquote></p><p> The Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.</p><p><blockquote>美联储正在成为最终的反向指标...众所周知，市场顶部的钟声敲响。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nAfter Christmas, Get Ready for the 'Inflation Bullwhip'<blockquote>圣诞节后，为“通胀牛鞭”做好准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-12-23 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"</p><p><blockquote>美国经济即将经历相当于印第安纳·琼斯最喜欢的玩具的经济效应，即所谓的“牛鞭效应”。</blockquote></p><p> All that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.</p><p><blockquote>这意味着，手腕的一个小小的轻轻一弹，就会导致振荡供应链鞭子末端的大动作...通常，鞭子末端有一个“裂缝”。</blockquote></p><p> Investors should expect two things in the next few months...</p><p><blockquote>未来几个月，投资者应该期待两件事...</blockquote></p><p> <ol>  <li>Post-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.</li>  <li>All the talk about inflation – now the highest since 1982 – is going to disappear.</li> </ol> <b>How We Got Here</b></p><p><blockquote><ol><li>相比之下，圣诞节后的购买将使黑色星期五和网络星期一看起来像高价的人行道销售。</li><li>所有关于通货膨胀的讨论——现在是1982年以来的最高水平——都将消失。</li></ol><b>我们是如何来到这里的</b></blockquote></p><p> Millions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically&nbsp;<i>everything</i>... has helped drive a sharp economic recovery.</p><p><blockquote>在COVID-19封锁和大流行刺激现金神奇地存入他们的银行账户后，数百万美国人进入了“善待自己”模式。对PlayStation、木材、本田CRV、LG InstaView冰箱、五件套竹制花园套装的需求<i>一切</i>...帮助推动了经济的急剧复苏。</blockquote></p><p> But too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...</p><p><blockquote>但是太多的人想要东西会导致东西的短缺。没有足够的钱。如果生产的产品减少，短缺会更严重...或者如果它在运输途中被卡住了...</blockquote></p><p> Stimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.</p><p><blockquote>刺激资金满足了被压抑的需求，并将膝盖踢出了全球供应链。</blockquote></p><p> It used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.</p><p><blockquote>苹果(AAPL)iPhone从横跨49个国家的网络获取信息，这曾经是资本主义的一种高度胜利。但在供应链瘫痪的世界里，这是一个令人头疼的问题。</blockquote></p><p> Like other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted...&nbsp;<i>until it stops working</i>.</p><p><blockquote>就像现代文明的其他基础设施一样——例如互联网、电网和蜂窝网络——全球供应链是我们认为理所当然的事情...<i>直到它停止工作</i>.</blockquote></p><p> Still, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.</p><p><blockquote>不过，如果你今天真的想要一些东西——牛柳、iPhone 13、三星65英寸4K电视——你可能愿意花更多钱。毕竟，某样东西的短缺（通常）并不意味着它根本不可用。相反，这意味着价格上涨。</blockquote></p><p> It's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.</p><p><blockquote>毫不奇怪，截至11月份的同比通胀率为6.8%，为1982年以来的最高水平。</blockquote></p><p> <b>The Most Powerful Force in the World</b></p><p><blockquote><b>世界上最强大的力量</b></blockquote></p><p> Inflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as&nbsp;<i>a force that will not be denied</i>...</p><p><blockquote>通货膨胀就在那里，伴随着重力、被蔑视的人的愤怒和饥饿的婴儿，就像<i>一股不可否认的力量</i>...</blockquote></p><p> But for my money, what's more powerful than that force is&nbsp;<b>mean reversion</b>. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.</p><p><blockquote>但在我看来，比那股力量更强大的是<b>均值回归</b>.这意味着每一次强烈的反应，事情最终都会反过来....再次找到通往中间的路。</blockquote></p><p> When applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.</p><p><blockquote>当应用于投资时，均值回归指的是极端的价格变动最终会修正——像橡皮筋一样恢复到均值。当应用于数月的全球供应链紧缩时...迟早，事情会反弹。</blockquote></p><p> We can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.</p><p><blockquote>我们已经可以从货物运输成本的大幅下降中看到这一点。衡量干货运力需求的波罗的海干散货运力指数在10月初触及15年来的高点，此后已下跌一半以上。运费正在下降，可用的船舶存储能力正在上升——这与全球供应链面临压力时发生的情况相反。</blockquote></p><p> Meanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.</p><p><blockquote>与此同时，一些全球汽车制造商表示，他们预计半导体供应将增加...芯片的短缺一直是汽车的一大瓶颈，其他使用微芯片的东西也是如此——从手机到汽车再到足球头盔。</blockquote></p><p> And since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.</p><p><blockquote>自9月份以来，Markit采购经理人指数的月度制造业数据显示，以越南和马来西亚为首的亚洲大部分地区都出现了强劲改善……这意味着整个地区——世界六大制造业国家中的四个——的产出正在反弹。</blockquote></p><p> <b>Here Comes the Bullwhip</b></p><p><blockquote><b>牛鞭来了</b></blockquote></p><p> You know what comes next.</p><p><blockquote>你知道接下来会发生什么。</blockquote></p><p> Retailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.</p><p><blockquote>花了几个月时间向消费者道歉的零售商即将发现自己被商品淹没了。所有好市多的沙发、速溶壶、芒果干包、特斯拉和其他所有订购的东西都会到达...还有很多没有订购的东西。</blockquote></p><p> Shortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"</p><p><blockquote>短缺会变成过剩，“断货”会变成“减库存销售”。</blockquote></p><p> The \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.</p><p><blockquote>“牛鞭效应”是当需求扭曲误导供应链时会发生的事情...它即将全力袭来。</blockquote></p><p> So if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.</p><p><blockquote>因此，如果你能说服家人推迟一段时间过圣诞节，明年你的圣诞钱会有更多的回报。这是因为一切都将成为所有销售之母，因为全球供应链最终会堵塞所有尚未上路的商品。</blockquote></p><p> <b>The Ultimate Contrarian Indicator</b></p><p><blockquote><b>终极反向指标</b></blockquote></p><p> And there's another positive side effect...&nbsp;<i>lower inflation</i>.</p><p><blockquote>还有另一个积极的副作用...<i>降低通货膨胀</i>.</blockquote></p><p> It's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.</p><p><blockquote>这并不复杂...随着整个经济中商品价格上涨压力的消散，通胀将会下降。</blockquote></p><p></p><p> <i>New York Times</i>bestselling author Jim Rickards&nbsp;recently appeared on my colleague Daniela Cambone's show&nbsp;to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)</p><p><blockquote><i>纽约时报</i>畅销书作家吉姆·里卡兹（Jim Rickards）最近出现在我的同事丹妮拉·坎伯恩（Daniela Cambone）的节目中说，由于美联储预计即将加息，你应该“预计通胀会很快下降”....他预测，你可能会看到严重的“紧缩变成疲软”，明年可能会加息三次。（Quoth the Raven也在本网站上报道了那次采访。）</blockquote></p><p> What's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.</p><p><blockquote>此外，通胀下降还有另一个原因...美联储主席杰罗姆·鲍威尔终于举起了白旗，承认通胀不是“暂时的”。这是美联储首选的通胀术语，通胀全年一直在稳步上升，从1月份的年率1.4%升至11月份的6.8%。</blockquote></p><p> \"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.</p><p><blockquote>“暂时性”表明，随着经济摆脱大流行引发的供应短缺，以及COVID-19刺激现金推动的需求消散，近期的价格上涨将逐渐消失。</blockquote></p><p> And ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months –&nbsp;<i>it's finally going to go away</i>.</p><p><blockquote>具有讽刺意味的是，正如美联储承认显而易见的事实——通胀将持续超过几个月——<i>它终于要消失了</i>.</blockquote></p><p> The Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.</p><p><blockquote>美联储正在成为最终的反向指标...众所周知，市场顶部的钟声敲响。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/news/2021-12-22/after-christmas-get-ready-inflation-bullwhip\">zerohedge</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/news/2021-12-22/after-christmas-get-ready-inflation-bullwhip","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166370237","content_text":"The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"\nAll that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.\nInvestors should expect two things in the next few months...\n\nPost-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.\nAll the talk about inflation – now the highest since 1982 – is going to disappear.\n\nHow We Got Here\nMillions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically everything... has helped drive a sharp economic recovery.\nBut too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...\nStimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.\nIt used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.\nLike other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted... until it stops working.\nStill, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.\nIt's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.\nThe Most Powerful Force in the World\nInflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as a force that will not be denied...\nBut for my money, what's more powerful than that force is mean reversion. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.\nWhen applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.\nWe can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.\nMeanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.\nAnd since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.\nHere Comes the Bullwhip\nYou know what comes next.\nRetailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.\nShortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"\nThe \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.\nSo if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.\nThe Ultimate Contrarian Indicator\nAnd there's another positive side effect... lower inflation.\nIt's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.\nNew York Timesbestselling author Jim Rickards recently appeared on my colleague Daniela Cambone's show to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)\nWhat's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.\n\"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.\nAnd ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months – it's finally going to go away.\nThe Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844107865,"gmtCreate":1636407568300,"gmtModify":1636407568472,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"They are just to big","listText":"They are just to big","text":"They are just to big","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/844107865","repostId":"1190184675","repostType":4,"repost":{"id":"1190184675","kind":"news","pubTimestamp":1636384600,"share":"https://www.laohu8.com/m/news/1190184675?lang=zh_CN&edition=full","pubTime":"2021-11-08 23:16","market":"us","language":"en","title":"Buffett Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190184675","media":"Bloomberg","summary":"(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire","content":"<p>(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.</p><p><blockquote>（彭博社）——随着亿万富翁投资者沃伦·巴菲特继续抛售，他对股市飙升表示谨慎。</blockquote></p><p> Buffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.</p><p><blockquote>巴菲特的伯克希尔哈撒韦公司连续第四个季度成为股票净卖家，这一趋势在2008年的数据中从未出现过。该公司最终出售的股票比在此期间购买的股票多了近20亿美元，现金储备攀升至创纪录的1,492亿美元。</blockquote></p><p> The selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.</p><p><blockquote>连续抛售表明，随着股市创下历史新高，巴菲特一直在努力寻找便宜货。由于这位91岁的老人和他的投资副手面临着天价标签和来自特殊目的收购公司浪潮的激烈竞争，该集团也未能进行一次引人注目的大型收购。</blockquote></p><p> “The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.</p><p><blockquote>爱德华·琼斯(Edward Jones)分析师吉姆·沙纳汉(Jim Shanahan)在接受电话采访时表示：“最大的问题是，伯克希尔本季度再次成为股票净卖家。”“这是现金储备持续上升的罪魁祸首”。</blockquote></p><p> Berkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.</p><p><blockquote>根据伯克希尔周六发布的第三季度监管文件，伯克希尔的销售额似乎主要来自于削减银行、保险和金融投资的持股。伯克希尔哈撒韦公司最近一直在削减某些股票，第二季度削减了对通用汽车公司的投资，并撤回了部分制药押注。该公司将于本月晚些时候发布第三季度股票调整。</blockquote></p><p> While Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.</p><p><blockquote>尽管巴菲特在过去四个季度一直是净卖家，但与他庞大的股票投资组合规模相比，这些销售额相对较小。在过去的九个月里，他卖出的股票比买入的多了近70亿美元，约占伯克希尔9月底股票投资组合公允价值的2.2%。</blockquote></p><p> Buffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.</p><p><blockquote>巴菲特在5月份警告投资者，随着SPAC席卷市场，伯克希尔哈撒韦公司在达成交易方面可能运气不佳，尽管他也预测这种繁荣可能不会持续下去。让挑战变得更加复杂的是，他最近的一次重大收购，即五年前以370亿美元收购Precision Castparts的交易，导致了巴菲特直接将其记入了自己的账户。</blockquote></p><p> Berkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.</p><p><blockquote>伯克希尔并不是唯一一家在疫情期间增加现金储备的公司。亚马逊公司、谷歌母公司Alphabet公司和美国航空集团公司等公司在健康危机期间增持了大量股份，分析师表示，此举可能会导致一些收购。</blockquote></p><p> And the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.</p><p><blockquote>在包括Cheviot Value Management的达伦·波洛克(Darren Pollock)在内的投资者看来，不断增加的现金储备比其他选择更好。尽管第三季度回购了76亿美元，但巴菲特的现金储备仍增至创纪录水平，波洛克表示，这是伯克希尔健康状况的一个好迹象。</blockquote></p><p> “We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”</p><p><blockquote>波洛克表示：“我们对此感到满意，因为另一种选择是现金没有增长那么多，这意味着伯克希尔哈撒韦公司的运营公司质量没有我们想象的那么高。”波洛克的切维奥特拥有伯克希尔哈撒韦公司的股份。“看到现金在增加，看到他在一个恰好是回购的途径上部署了如此多的资金——而不是收购——但这些资金是以富有成效的方式使用的，这比看到现金的替代方案要好得多如果没有其他大型收购，现金就会稳定或下降。”</blockquote></p><p> Here are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:</p><p><blockquote>以下是伯克希尔周六第三季度财报的其他一些关键要点：</blockquote></p><p> Berkshire Appetite</p><p><blockquote>伯克希尔的胃口</blockquote></p><p> Buffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.</p><p><blockquote>巴菲特越来越依赖股票回购作为部署数十亿美元的一种方式。自2018年政策调整以来，伯克希尔在股票回购上花费了约510亿美元，超过了用于购买苹果股票的310亿美元，这是伯克希尔最大的股票赌注。</blockquote></p><p> In the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.</p><p><blockquote>第三季度，伯克希尔回购了76亿美元的股票，超过了上一期回购的60亿美元股票。</blockquote></p><p> BNSF’s Record</p><p><blockquote>BNSF的记录</blockquote></p><p> Record profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.</p><p><blockquote>伯克希尔旗下铁路公司BNSF创纪录的利润及其能源业务的强劲收益帮助该集团第三季度的营业利润提高了18%。</blockquote></p><p> That also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.</p><p><blockquote>这也有助于抵消伯克希尔保险公司痛苦的季度。这些企业报告称，由于汽车保险公司Geico的灾难成本增加和索赔趋势恶化，承保损失扩大至7.84亿美元。</blockquote></p><p></p>","source":"lsy1612507957220","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 Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</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\">\nBuffett Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-11-08 23:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.</p><p><blockquote>（彭博社）——随着亿万富翁投资者沃伦·巴菲特继续抛售，他对股市飙升表示谨慎。</blockquote></p><p> Buffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.</p><p><blockquote>巴菲特的伯克希尔哈撒韦公司连续第四个季度成为股票净卖家，这一趋势在2008年的数据中从未出现过。该公司最终出售的股票比在此期间购买的股票多了近20亿美元，现金储备攀升至创纪录的1,492亿美元。</blockquote></p><p> The selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.</p><p><blockquote>连续抛售表明，随着股市创下历史新高，巴菲特一直在努力寻找便宜货。由于这位91岁的老人和他的投资副手面临着天价标签和来自特殊目的收购公司浪潮的激烈竞争，该集团也未能进行一次引人注目的大型收购。</blockquote></p><p> “The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.</p><p><blockquote>爱德华·琼斯(Edward Jones)分析师吉姆·沙纳汉(Jim Shanahan)在接受电话采访时表示：“最大的问题是，伯克希尔本季度再次成为股票净卖家。”“这是现金储备持续上升的罪魁祸首”。</blockquote></p><p> Berkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.</p><p><blockquote>根据伯克希尔周六发布的第三季度监管文件，伯克希尔的销售额似乎主要来自于削减银行、保险和金融投资的持股。伯克希尔哈撒韦公司最近一直在削减某些股票，第二季度削减了对通用汽车公司的投资，并撤回了部分制药押注。该公司将于本月晚些时候发布第三季度股票调整。</blockquote></p><p> While Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.</p><p><blockquote>尽管巴菲特在过去四个季度一直是净卖家，但与他庞大的股票投资组合规模相比，这些销售额相对较小。在过去的九个月里，他卖出的股票比买入的多了近70亿美元，约占伯克希尔9月底股票投资组合公允价值的2.2%。</blockquote></p><p> Buffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.</p><p><blockquote>巴菲特在5月份警告投资者，随着SPAC席卷市场，伯克希尔哈撒韦公司在达成交易方面可能运气不佳，尽管他也预测这种繁荣可能不会持续下去。让挑战变得更加复杂的是，他最近的一次重大收购，即五年前以370亿美元收购Precision Castparts的交易，导致了巴菲特直接将其记入了自己的账户。</blockquote></p><p> Berkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.</p><p><blockquote>伯克希尔并不是唯一一家在疫情期间增加现金储备的公司。亚马逊公司、谷歌母公司Alphabet公司和美国航空集团公司等公司在健康危机期间增持了大量股份，分析师表示，此举可能会导致一些收购。</blockquote></p><p> And the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.</p><p><blockquote>在包括Cheviot Value Management的达伦·波洛克(Darren Pollock)在内的投资者看来，不断增加的现金储备比其他选择更好。尽管第三季度回购了76亿美元，但巴菲特的现金储备仍增至创纪录水平，波洛克表示，这是伯克希尔健康状况的一个好迹象。</blockquote></p><p> “We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”</p><p><blockquote>波洛克表示：“我们对此感到满意，因为另一种选择是现金没有增长那么多，这意味着伯克希尔哈撒韦公司的运营公司质量没有我们想象的那么高。”波洛克的切维奥特拥有伯克希尔哈撒韦公司的股份。“看到现金在增加，看到他在一个恰好是回购的途径上部署了如此多的资金——而不是收购——但这些资金是以富有成效的方式使用的，这比看到现金的替代方案要好得多如果没有其他大型收购，现金就会稳定或下降。”</blockquote></p><p> Here are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:</p><p><blockquote>以下是伯克希尔周六第三季度财报的其他一些关键要点：</blockquote></p><p> Berkshire Appetite</p><p><blockquote>伯克希尔的胃口</blockquote></p><p> Buffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.</p><p><blockquote>巴菲特越来越依赖股票回购作为部署数十亿美元的一种方式。自2018年政策调整以来，伯克希尔在股票回购上花费了约510亿美元，超过了用于购买苹果股票的310亿美元，这是伯克希尔最大的股票赌注。</blockquote></p><p> In the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.</p><p><blockquote>第三季度，伯克希尔回购了76亿美元的股票，超过了上一期回购的60亿美元股票。</blockquote></p><p> BNSF’s Record</p><p><blockquote>BNSF的记录</blockquote></p><p> Record profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.</p><p><blockquote>伯克希尔旗下铁路公司BNSF创纪录的利润及其能源业务的强劲收益帮助该集团第三季度的营业利润提高了18%。</blockquote></p><p> That also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.</p><p><blockquote>这也有助于抵消伯克希尔保险公司痛苦的季度。这些企业报告称，由于汽车保险公司Geico的灾难成本增加和索赔趋势恶化，承保损失扩大至7.84亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/buffett-signals-caution-berkshire-stock-140819517.html\">Bloomberg</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":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://finance.yahoo.com/news/buffett-signals-caution-berkshire-stock-140819517.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190184675","content_text":"(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.\nBuffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.\nThe selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.\n“The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.\nBerkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.\nWhile Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.\nBuffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.\nBerkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.\nAnd the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.\n“We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”\nHere are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:\nBerkshire Appetite\nBuffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.\nIn the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.\nBNSF’s Record\nRecord profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.\nThat also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":2302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822009902,"gmtCreate":1634073918700,"gmtModify":1634073953788,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Earning is good","listText":"Earning is good","text":"Earning is good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/822009902","repostId":"1160581040","repostType":4,"repost":{"id":"1160581040","kind":"news","pubTimestamp":1634042129,"share":"https://www.laohu8.com/m/news/1160581040?lang=zh_CN&edition=full","pubTime":"2021-10-12 20:35","market":"us","language":"en","title":"Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160581040","media":"Barrons","summary":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to ","content":"<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</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>Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</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\">\nAnother Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-12 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST\">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":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160581040","content_text":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.\nReports from S&P 500 companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from Delta Air Lines (DAL),Walgreens Boots Alliance (WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase & Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.\nAnalysts are forecasting aggregate earnings per share on the S&P 500 to grow 24.5%, according to S&P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.\nNo matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.\nThat won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.\n“We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.\nEarnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.\nThe good news? The S&P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.\nThe question is whether it’s enough.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":4120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828006518,"gmtCreate":1633815770140,"gmtModify":1633815770191,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/828006518","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":2901,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823277773,"gmtCreate":1633646113933,"gmtModify":1633646114090,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823277773","repostId":"2173944870","repostType":4,"isVote":1,"tweetType":1,"viewCount":2790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829977788,"gmtCreate":1633470300178,"gmtModify":1633470362059,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"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/829977788","repostId":"1187887420","repostType":4,"repost":{"id":"1187887420","kind":"news","pubTimestamp":1633444673,"share":"https://www.laohu8.com/m/news/1187887420?lang=zh_CN&edition=full","pubTime":"2021-10-05 22:37","market":"us","language":"en","title":"Chief Studios Officer Of Electronic Arts Sold $440K In Stock<blockquote>Electronic Arts首席工作室官出售44万美元库存</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187887420","media":"Benzinga","summary":"Laura Miele, Chief Studios Officer at Electronic Arts(NASDAQ:EA), made a large insider sell on Octob","content":"<p><div> Laura Miele, Chief Studios Officer at Electronic Arts(NASDAQ:EA), made a large insider sell on October 1, according to a new SEC filing. What Happened:A Form 4 filing from theU.S. Securities and ...</p><p><blockquote><div>根据一份新的SEC文件，艺电（纳斯达克股票代码：EA）首席工作室官Laura Miele于10月1日进行了一次大规模内幕抛售。发生了什么：来自美国的表格4文件。证券和...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>Chief Studios Officer Of Electronic Arts Sold $440K In Stock<blockquote>Electronic Arts首席工作室官出售44万美元库存</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\">\nChief Studios Officer Of Electronic Arts Sold $440K In Stock<blockquote>Electronic Arts首席工作室官出售44万美元库存</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-10-05 22:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Laura Miele, Chief Studios Officer at Electronic Arts(NASDAQ:EA), made a large insider sell on October 1, according to a new SEC filing. What Happened:A Form 4 filing from theU.S. Securities and ...</p><p><blockquote><div>根据一份新的SEC文件，艺电（纳斯达克股票代码：EA）首席工作室官Laura Miele于10月1日进行了一次大规模内幕抛售。发生了什么：来自美国的表格4文件。证券和...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock\">Benzinga</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":{"EA":"艺电"},"source_url":"https://www.benzinga.com/news/21/10/23241376/chief-studios-officer-of-electronic-arts-sold-440k-in-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187887420","content_text":"Laura Miele, Chief Studios Officer at Electronic Arts(NASDAQ:EA), made a large insider sell on October 1, according to a new SEC filing.\nWhat Happened:A Form 4 filing from theU.S. Securities and Exchange Commission on Friday showed that Miele sold 3,100 shares of Electronic Arts at prices ranging from $140.72 to $143.81. The total transaction amounted to $441,584.\nFollowing the transaction, Miele still owns 23,632 shares of the company, worth $3,411,633.\nElectronic Arts shares are trading up 0.84% at $144.37 at the time of this writing on Tuesday morning.","news_type":1,"symbols_score_info":{"EA":0.9}},"isVote":1,"tweetType":1,"viewCount":2612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820823735,"gmtCreate":1633382985574,"gmtModify":1633382985802,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Doesn't go by plan. haha","listText":"Doesn't go by plan. haha","text":"Doesn't go by plan. haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/820823735","repostId":"1185304471","repostType":4,"repost":{"id":"1185304471","kind":"news","pubTimestamp":1633360698,"share":"https://www.laohu8.com/m/news/1185304471?lang=zh_CN&edition=full","pubTime":"2021-10-04 23:18","market":"us","language":"en","title":"Fed's Bullard: U.S. businesses having no problems raising prices<blockquote>美联储布拉德：美国企业提价没有问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185304471","media":"finance.yahoo","summary":"(Reuters) - U.S. businesses are having few problems raising prices on customers for the first time i","content":"<p>(Reuters) - U.S. businesses are having few problems raising prices on customers for the first time in years, St. Louis Federal Reserve Bank President James Bullard said on Monday, as he warned that inflation could remain elevated for some time to come amid fears higher expectations become entrenched.</p><p><blockquote>（路透社）-圣路易斯联邦储备银行行长詹姆斯·布拉德周一表示，美国企业多年来首次向客户提价几乎没有问题，他警告称，由于担心通胀可能在未来一段时间内保持高位。更高的预期变得根深蒂固。</blockquote></p><p> Bullard's business contacts in his Fed district and around the country \"typically say 'don't worry my company's going to be profitable because I am going to raise prices and we've had no difficulty raising prices in this environment,'\" Bullard said during an event held by the International Economic Forum of the Americas.</p><p><blockquote>布拉德在美联储地区和全国各地的业务联系人“通常会说‘不要担心我的公司会盈利，因为我将提高价格，而在这种环境下我们提高价格没有任何困难，’”布拉德在美洲国际经济论坛举办的一次活动中说道。</blockquote></p><p> Bullard is among the strongest advocates at the U.S. central bank for aggressive moves to combat higher-than-expected inflation and he sees two interest rate hikes needed in 2022. Interest rates remain near zero currently, where they have been since the onset of the COVID-19 pandemic in early 2020.</p><p><blockquote>布拉德是美联储采取积极措施应对高于预期的通胀的最强烈倡导者之一，他认为2022年需要加息两次。目前利率仍接近于零，自2020年初COVID-19大流行爆发以来一直如此。</blockquote></p><p> \"I am concerned about the changing mentality, I would say, around prices in the economy and the relative freedom that businesses feel that they can just pass on increased costs easily to their customers. For years, that's not been the case,\" Bullard added.</p><p><blockquote>“我想说，我担心经济中围绕价格的心态不断变化，以及企业认为可以轻松地将增加的成本转嫁给客户的相对自由。多年来，情况并非如此，”布拉德补充道。</blockquote></p><p></p>","source":"lsy1612507957220","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>Fed's Bullard: U.S. businesses having no problems raising prices<blockquote>美联储布拉德：美国企业提价没有问题</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\">\nFed's Bullard: U.S. businesses having no problems raising prices<blockquote>美联储布拉德：美国企业提价没有问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">finance.yahoo</strong><span class=\"h-time small\">2021-10-04 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) - U.S. businesses are having few problems raising prices on customers for the first time in years, St. Louis Federal Reserve Bank President James Bullard said on Monday, as he warned that inflation could remain elevated for some time to come amid fears higher expectations become entrenched.</p><p><blockquote>（路透社）-圣路易斯联邦储备银行行长詹姆斯·布拉德周一表示，美国企业多年来首次向客户提价几乎没有问题，他警告称，由于担心通胀可能在未来一段时间内保持高位。更高的预期变得根深蒂固。</blockquote></p><p> Bullard's business contacts in his Fed district and around the country \"typically say 'don't worry my company's going to be profitable because I am going to raise prices and we've had no difficulty raising prices in this environment,'\" Bullard said during an event held by the International Economic Forum of the Americas.</p><p><blockquote>布拉德在美联储地区和全国各地的业务联系人“通常会说‘不要担心我的公司会盈利，因为我将提高价格，而在这种环境下我们提高价格没有任何困难，’”布拉德在美洲国际经济论坛举办的一次活动中说道。</blockquote></p><p> Bullard is among the strongest advocates at the U.S. central bank for aggressive moves to combat higher-than-expected inflation and he sees two interest rate hikes needed in 2022. Interest rates remain near zero currently, where they have been since the onset of the COVID-19 pandemic in early 2020.</p><p><blockquote>布拉德是美联储采取积极措施应对高于预期的通胀的最强烈倡导者之一，他认为2022年需要加息两次。目前利率仍接近于零，自2020年初COVID-19大流行爆发以来一直如此。</blockquote></p><p> \"I am concerned about the changing mentality, I would say, around prices in the economy and the relative freedom that businesses feel that they can just pass on increased costs easily to their customers. For years, that's not been the case,\" Bullard added.</p><p><blockquote>“我想说，我担心经济中围绕价格的心态不断变化，以及企业认为可以轻松地将增加的成本转嫁给客户的相对自由。多年来，情况并非如此，”布拉德补充道。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/feds-bullard-u-businesses-having-151026032.html\">finance.yahoo</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":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/feds-bullard-u-businesses-having-151026032.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185304471","content_text":"(Reuters) - U.S. businesses are having few problems raising prices on customers for the first time in years, St. Louis Federal Reserve Bank President James Bullard said on Monday, as he warned that inflation could remain elevated for some time to come amid fears higher expectations become entrenched.\nBullard's business contacts in his Fed district and around the country \"typically say 'don't worry my company's going to be profitable because I am going to raise prices and we've had no difficulty raising prices in this environment,'\" Bullard said during an event held by the International Economic Forum of the Americas.\nBullard is among the strongest advocates at the U.S. central bank for aggressive moves to combat higher-than-expected inflation and he sees two interest rate hikes needed in 2022. Interest rates remain near zero currently, where they have been since the onset of the COVID-19 pandemic in early 2020.\n\"I am concerned about the changing mentality, I would say, around prices in the economy and the relative freedom that businesses feel that they can just pass on increased costs easily to their customers. For years, that's not been the case,\" Bullard added.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867542792,"gmtCreate":1633304418230,"gmtModify":1633304667652,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/867542792","repostId":"1114921615","repostType":4,"isVote":1,"tweetType":1,"viewCount":2089,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864002798,"gmtCreate":1633039339664,"gmtModify":1633039339804,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"I am not convinced","listText":"I am not convinced","text":"I am not convinced","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864002798","repostId":"2171895899","repostType":4,"isVote":1,"tweetType":1,"viewCount":2488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865310538,"gmtCreate":1632951915240,"gmtModify":1632951915362,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Will keep an eye on it","listText":"Will keep an eye on it","text":"Will keep an eye on it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/865310538","repostId":"2171981471","repostType":4,"isVote":1,"tweetType":1,"viewCount":2415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862807906,"gmtCreate":1632864936146,"gmtModify":1632864936146,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"I like it","listText":"I like it","text":"I like it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862807906","repostId":"1186367782","repostType":4,"isVote":1,"tweetType":1,"viewCount":1107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866202609,"gmtCreate":1632782637401,"gmtModify":1632797943131,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"amazing","listText":"amazing","text":"amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866202609","repostId":"2170624172","repostType":4,"isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868558364,"gmtCreate":1632685253258,"gmtModify":1632798633983,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868558364","repostId":"2170614636","repostType":4,"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868949847,"gmtCreate":1632581952789,"gmtModify":1632655289659,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"amazing","listText":"amazing","text":"amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868949847","repostId":"1149730497","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863022483,"gmtCreate":1632346727642,"gmtModify":1632801137241,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Talk is cheap","listText":"Talk is cheap","text":"Talk is cheap","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/863022483","repostId":"1146187405","repostType":4,"isVote":1,"tweetType":1,"viewCount":652,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860909009,"gmtCreate":1632113805501,"gmtModify":1632802738761,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Nobody could have expected this to run so long","listText":"Nobody could have expected this to run so long","text":"Nobody could have expected this to run so long","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860909009","repostId":"1147063668","repostType":4,"repost":{"id":"1147063668","kind":"news","pubTimestamp":1632110101,"share":"https://www.laohu8.com/m/news/1147063668?lang=zh_CN&edition=full","pubTime":"2021-09-20 11:55","market":"us","language":"en","title":"GameStop: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147063668","media":"Seeking Alpha","summary":"Summary\n\nGameStop continues to be a struggling video gaming retailer with limited upside and no abil","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>GameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.</li>  <li>With short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.</li>  <li>We stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee370c1ebf4419a57b44005fd9139eda\" tg-width=\"1536\" tg-height=\"1050\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>游戏驿站仍然是一家苦苦挣扎的视频游戏零售商，上涨空间有限，也没有能力在短期内创造额外的股东价值。</li><li>由于空头利息低于15%，投资者不应期望在接下来的几个月内看到另一次紧缩。</li><li>我们坚持我们的观点，最好避开游戏驿站，特别是因为其股票以目前的价格被严重高估。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> It’s safe to say that GameStop’s (GME) squeeze has run its course and with a&nbsp;short interest&nbsp;of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.</p><p><blockquote>可以肯定地说，游戏驿站(GME)的挤压已经结束，空头利息低于15%，投资者不应指望很快会看到另一次挤压发生。此外，由于游戏驿站继续努力提高业绩，而游戏行业却经历了两位数的增长，该零售商不太可能在可预见的未来创造额外的股东价值。考虑到这一点，我们坚持我们的观点，即最好避免游戏驿站，特别是因为它在当前水平上被严重高估。</blockquote></p><p> <b>Nothing To Look At</b></p><p><blockquote><b>没什么可看的</b></blockquote></p><p> GameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last&nbsp;article&nbsp;on the company was published in late June, while the S&amp;P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.</p><p><blockquote>现阶段，游戏驿站仍然是一家苦苦挣扎的视频游戏零售商。在视频游戏行业十年来最大的增长期间，其业务未能显着改善，而且不太可能很快改善。尽管散户交易员今年早些时候成功挤压了卖空者，但游戏驿站的股票近几个月未能获得任何牵引力。当我们说它的势头正在消退时，我们是对的，因为该股较我们6月底发表上一篇关于该公司的文章时下跌了近7%，而标普500同期上涨了5%以上。展望未来，我们仍然相信游戏驿站的股价在可预见的未来将进一步贬值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4696f8a9da1fed768fa7fb834d81999b\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> Just last week GameStop&nbsp;released&nbsp;its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.</p><p><blockquote>就在上周，游戏驿站发布了第二季度财报。在此期间，该公司仅实现收入11.8亿美元，同比增长25.3%，仅超出预期6000万美元。问题是，25.3%的同比增长对于游戏驿站这样的公司来说是可怕的，因为去年同期该公司的许多商店因疫情而关闭，并且产生的收入很少。除此之外，该公司的非GAAP每股收益为-0.76美元，比预期低0.09美元，而净亏损为6160万美元。</blockquote></p><p> The biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.</p><p><blockquote>游戏驿站最大的缺点是它在视频游戏行业没有任何独特的定位。该公司充当中间商，对发行商或消费者没有明显优势，同时其以零售为中心的商业模式无法适应游戏可以轻松合法地在线下载的新现实。游戏驿站的另一个问题是，第二季度末，其大部分收入来自去年发布的游戏机等硬件的销售。一旦对新设备的需求随着时间的推移而减少，业务硬件方面的销售额也会下降。</blockquote></p><p> With Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.</p><p><blockquote>随着Ryan Cohen成为新任董事会主席，游戏驿站目前的目标是转向电子商务业务。然而，我们很难相信该公司有机会成为电子商务领域的视频游戏巨头。问题是游戏驿站在软件业务上没有任何定价权，因为微软（MSFT）、索尼（SNE）、育碧（OTCPK：UBSFY）、艺电（EA）等出版商已经领先于游戏驿站在线业务。他们中的大多数都有自己的第一方订阅服务，这使得游戏玩家直接使用这些服务并以大幅折扣玩游戏比从游戏驿站购买游戏更具吸引力。最重要的是，由于PlayStation Now和Xbox Cloud Gaming等服务的推出，云游戏逐年变得更加现实，这些服务让消费者无需首先拥有游戏即可玩游戏。随着该行业每年都在不断数字化，游戏驿站将继续失去市场份额，因为其零售店将继续消耗现金，而电子商务努力不太可能很快产生有意义的回报。</blockquote></p><p> Another downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.</p><p><blockquote>游戏驿站的另一个缺点是，管理层对游戏驿站将如何转型保持沉默，让投资者蒙在鼓里。在过去三次会议评级上，分析师没有提出任何问题，也没有发布任何指导意见。我们认为这是一个主要的危险信号，并认为这是游戏驿站投资缺乏吸引力的主要原因之一。</blockquote></p><p></p><p> The only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2&nbsp;stood&nbsp;at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.</p><p><blockquote>该公司唯一的积极之处在于它的资产负债表没有过度杠杆化，因为其第二季度末的流动性为17.2亿美元，而长期债务仅为4750万美元。然而，除此之外，我们没有看到游戏驿站的任何其他优势，并认为其势头将继续消退。可以肯定地说，挤压已经结束，因为该股的空头利息不到15%，而且目前水平不存在增长催化剂。最重要的是，该公司的年收入不太可能很快恢复到大流行前的水平。目前，该业务预计今年的年收入将继续低于60亿美元，因为其以零售为中心的商业模式正在慢慢消亡，而视频游戏行业每年仍以两位数的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb72f458ec8ffd4315f63b7f456e4b13\" tg-width=\"875\" tg-height=\"375\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> In addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability&nbsp;metrics&nbsp;are below the sector median, while most of its margins are negative.</p><p><blockquote>此外，在游戏行业增长的过去三年中，游戏驿站的业务一直处于无利可图的状态，今年也很可能保持无利可图，因为该公司几乎所有的盈利指标都低于行业中位数，而大部分利润率都是负面的。</blockquote></p><p> Considering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current&nbsp;consensus&nbsp;price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.</p><p><blockquote>考虑到所有这些，我们发现很难证明以约150亿美元的市值购买游戏驿站股票是合理的，因为我们认为没有任何催化剂可以帮助该公司改善未来的业绩。此外，大多数华尔街分析师仍然看跌该股，因为游戏驿站股票目前的一致目标价为每股37.50美元，较当前市场价格下跌超过75%。因此，我们坚持认为势头正在消退，现阶段最好避免游戏驿站。</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>GameStop: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</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: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</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\">2021-09-20 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>GameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.</li>  <li>With short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.</li>  <li>We stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee370c1ebf4419a57b44005fd9139eda\" tg-width=\"1536\" tg-height=\"1050\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>游戏驿站仍然是一家苦苦挣扎的视频游戏零售商，上涨空间有限，也没有能力在短期内创造额外的股东价值。</li><li>由于空头利息低于15%，投资者不应期望在接下来的几个月内看到另一次紧缩。</li><li>我们坚持我们的观点，最好避开游戏驿站，特别是因为其股票以目前的价格被严重高估。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> It’s safe to say that GameStop’s (GME) squeeze has run its course and with a&nbsp;short interest&nbsp;of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.</p><p><blockquote>可以肯定地说，游戏驿站(GME)的挤压已经结束，空头利息低于15%，投资者不应指望很快会看到另一次挤压发生。此外，由于游戏驿站继续努力提高业绩，而游戏行业却经历了两位数的增长，该零售商不太可能在可预见的未来创造额外的股东价值。考虑到这一点，我们坚持我们的观点，即最好避免游戏驿站，特别是因为它在当前水平上被严重高估。</blockquote></p><p> <b>Nothing To Look At</b></p><p><blockquote><b>没什么可看的</b></blockquote></p><p> GameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last&nbsp;article&nbsp;on the company was published in late June, while the S&amp;P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.</p><p><blockquote>现阶段，游戏驿站仍然是一家苦苦挣扎的视频游戏零售商。在视频游戏行业十年来最大的增长期间，其业务未能显着改善，而且不太可能很快改善。尽管散户交易员今年早些时候成功挤压了卖空者，但游戏驿站的股票近几个月未能获得任何牵引力。当我们说它的势头正在消退时，我们是对的，因为该股较我们6月底发表上一篇关于该公司的文章时下跌了近7%，而标普500同期上涨了5%以上。展望未来，我们仍然相信游戏驿站的股价在可预见的未来将进一步贬值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4696f8a9da1fed768fa7fb834d81999b\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> Just last week GameStop&nbsp;released&nbsp;its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.</p><p><blockquote>就在上周，游戏驿站发布了第二季度财报。在此期间，该公司仅实现收入11.8亿美元，同比增长25.3%，仅超出预期6000万美元。问题是，25.3%的同比增长对于游戏驿站这样的公司来说是可怕的，因为去年同期该公司的许多商店因疫情而关闭，并且产生的收入很少。除此之外，该公司的非GAAP每股收益为-0.76美元，比预期低0.09美元，而净亏损为6160万美元。</blockquote></p><p> The biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.</p><p><blockquote>游戏驿站最大的缺点是它在视频游戏行业没有任何独特的定位。该公司充当中间商，对发行商或消费者没有明显优势，同时其以零售为中心的商业模式无法适应游戏可以轻松合法地在线下载的新现实。游戏驿站的另一个问题是，第二季度末，其大部分收入来自去年发布的游戏机等硬件的销售。一旦对新设备的需求随着时间的推移而减少，业务硬件方面的销售额也会下降。</blockquote></p><p> With Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.</p><p><blockquote>随着Ryan Cohen成为新任董事会主席，游戏驿站目前的目标是转向电子商务业务。然而，我们很难相信该公司有机会成为电子商务领域的视频游戏巨头。问题是游戏驿站在软件业务上没有任何定价权，因为微软（MSFT）、索尼（SNE）、育碧（OTCPK：UBSFY）、艺电（EA）等出版商已经领先于游戏驿站在线业务。他们中的大多数都有自己的第一方订阅服务，这使得游戏玩家直接使用这些服务并以大幅折扣玩游戏比从游戏驿站购买游戏更具吸引力。最重要的是，由于PlayStation Now和Xbox Cloud Gaming等服务的推出，云游戏逐年变得更加现实，这些服务让消费者无需首先拥有游戏即可玩游戏。随着该行业每年都在不断数字化，游戏驿站将继续失去市场份额，因为其零售店将继续消耗现金，而电子商务努力不太可能很快产生有意义的回报。</blockquote></p><p> Another downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.</p><p><blockquote>游戏驿站的另一个缺点是，管理层对游戏驿站将如何转型保持沉默，让投资者蒙在鼓里。在过去三次会议评级上，分析师没有提出任何问题，也没有发布任何指导意见。我们认为这是一个主要的危险信号，并认为这是游戏驿站投资缺乏吸引力的主要原因之一。</blockquote></p><p></p><p> The only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2&nbsp;stood&nbsp;at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.</p><p><blockquote>该公司唯一的积极之处在于它的资产负债表没有过度杠杆化，因为其第二季度末的流动性为17.2亿美元，而长期债务仅为4750万美元。然而，除此之外，我们没有看到游戏驿站的任何其他优势，并认为其势头将继续消退。可以肯定地说，挤压已经结束，因为该股的空头利息不到15%，而且目前水平不存在增长催化剂。最重要的是，该公司的年收入不太可能很快恢复到大流行前的水平。目前，该业务预计今年的年收入将继续低于60亿美元，因为其以零售为中心的商业模式正在慢慢消亡，而视频游戏行业每年仍以两位数的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb72f458ec8ffd4315f63b7f456e4b13\" tg-width=\"875\" tg-height=\"375\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> In addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability&nbsp;metrics&nbsp;are below the sector median, while most of its margins are negative.</p><p><blockquote>此外，在游戏行业增长的过去三年中，游戏驿站的业务一直处于无利可图的状态，今年也很可能保持无利可图，因为该公司几乎所有的盈利指标都低于行业中位数，而大部分利润率都是负面的。</blockquote></p><p> Considering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current&nbsp;consensus&nbsp;price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.</p><p><blockquote>考虑到所有这些，我们发现很难证明以约150亿美元的市值购买游戏驿站股票是合理的，因为我们认为没有任何催化剂可以帮助该公司改善未来的业绩。此外，大多数华尔街分析师仍然看跌该股，因为游戏驿站股票目前的一致目标价为每股37.50美元，较当前市场价格下跌超过75%。因此，我们坚持认为势头正在消退，现阶段最好避免游戏驿站。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4455492-gamestop-with-short-interest-of-less-than-15-percent-dont-expect-another-squeeze\">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":{"GME":"游戏驿站"},"source_url":"https://seekingalpha.com/article/4455492-gamestop-with-short-interest-of-less-than-15-percent-dont-expect-another-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147063668","content_text":"Summary\n\nGameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.\nWith short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.\nWe stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.\n\nJustin Sullivan/Getty Images News\nIt’s safe to say that GameStop’s (GME) squeeze has run its course and with a short interest of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.\nNothing To Look At\nGameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last article on the company was published in late June, while the S&P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.\nChart: Seeking Alpha\nJust last week GameStop released its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.\nThe biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.\nWith Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.\nAnother downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.\nThe only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2 stood at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.\nSource: Seeking Alpha\nIn addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability metrics are below the sector median, while most of its margins are negative.\nConsidering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current consensus price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885097513,"gmtCreate":1631742773032,"gmtModify":1631884410668,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Buy&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","listText":"Buy&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","text":"Buy $Uranium(UEC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/885097513","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","kind":"news","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=zh_CN&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-09-15 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882659811,"gmtCreate":1631688868833,"gmtModify":1631890471769,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Amazing","listText":"Amazing","text":"Amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/882659811","repostId":"2167561933","repostType":4,"isVote":1,"tweetType":1,"viewCount":718,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882638434,"gmtCreate":1631682189428,"gmtModify":1631890471771,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/882638434","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","kind":"news","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=zh_CN&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-09-15 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886359767,"gmtCreate":1631568837659,"gmtModify":1631890471770,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Amazing marketing in action. Gold not out of dust, but hot air.","listText":"Amazing marketing in action. Gold not out of dust, but hot air.","text":"Amazing marketing in action. Gold not out of dust, but hot air.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/886359767","repostId":"2167630550","repostType":4,"isVote":1,"tweetType":1,"viewCount":802,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":822009902,"gmtCreate":1634073918700,"gmtModify":1634073953788,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Earning is good","listText":"Earning is good","text":"Earning is good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/822009902","repostId":"1160581040","repostType":4,"repost":{"id":"1160581040","kind":"news","pubTimestamp":1634042129,"share":"https://www.laohu8.com/m/news/1160581040?lang=zh_CN&edition=full","pubTime":"2021-10-12 20:35","market":"us","language":"en","title":"Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160581040","media":"Barrons","summary":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to ","content":"<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</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>Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</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\">\nAnother Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-12 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST\">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":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160581040","content_text":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.\nReports from S&P 500 companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from Delta Air Lines (DAL),Walgreens Boots Alliance (WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase & Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.\nAnalysts are forecasting aggregate earnings per share on the S&P 500 to grow 24.5%, according to S&P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.\nNo matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.\nThat won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.\n“We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.\nEarnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.\nThe good news? The S&P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.\nThe question is whether it’s enough.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":4120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":832536988,"gmtCreate":1629651911244,"gmtModify":1633683578642,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Long term plays","listText":"Long term plays","text":"Long term plays","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/832536988","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816758609,"gmtCreate":1630538120701,"gmtModify":1631890471793,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/816758609","repostId":"2164481914","repostType":4,"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":844107865,"gmtCreate":1636407568300,"gmtModify":1636407568472,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"They are just to big","listText":"They are just to big","text":"They are just to big","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/844107865","repostId":"1190184675","repostType":4,"repost":{"id":"1190184675","kind":"news","pubTimestamp":1636384600,"share":"https://www.laohu8.com/m/news/1190184675?lang=zh_CN&edition=full","pubTime":"2021-11-08 23:16","market":"us","language":"en","title":"Buffett Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190184675","media":"Bloomberg","summary":"(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire","content":"<p>(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.</p><p><blockquote>（彭博社）——随着亿万富翁投资者沃伦·巴菲特继续抛售，他对股市飙升表示谨慎。</blockquote></p><p> Buffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.</p><p><blockquote>巴菲特的伯克希尔哈撒韦公司连续第四个季度成为股票净卖家，这一趋势在2008年的数据中从未出现过。该公司最终出售的股票比在此期间购买的股票多了近20亿美元，现金储备攀升至创纪录的1,492亿美元。</blockquote></p><p> The selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.</p><p><blockquote>连续抛售表明，随着股市创下历史新高，巴菲特一直在努力寻找便宜货。由于这位91岁的老人和他的投资副手面临着天价标签和来自特殊目的收购公司浪潮的激烈竞争，该集团也未能进行一次引人注目的大型收购。</blockquote></p><p> “The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.</p><p><blockquote>爱德华·琼斯(Edward Jones)分析师吉姆·沙纳汉(Jim Shanahan)在接受电话采访时表示：“最大的问题是，伯克希尔本季度再次成为股票净卖家。”“这是现金储备持续上升的罪魁祸首”。</blockquote></p><p> Berkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.</p><p><blockquote>根据伯克希尔周六发布的第三季度监管文件，伯克希尔的销售额似乎主要来自于削减银行、保险和金融投资的持股。伯克希尔哈撒韦公司最近一直在削减某些股票，第二季度削减了对通用汽车公司的投资，并撤回了部分制药押注。该公司将于本月晚些时候发布第三季度股票调整。</blockquote></p><p> While Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.</p><p><blockquote>尽管巴菲特在过去四个季度一直是净卖家，但与他庞大的股票投资组合规模相比，这些销售额相对较小。在过去的九个月里，他卖出的股票比买入的多了近70亿美元，约占伯克希尔9月底股票投资组合公允价值的2.2%。</blockquote></p><p> Buffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.</p><p><blockquote>巴菲特在5月份警告投资者，随着SPAC席卷市场，伯克希尔哈撒韦公司在达成交易方面可能运气不佳，尽管他也预测这种繁荣可能不会持续下去。让挑战变得更加复杂的是，他最近的一次重大收购，即五年前以370亿美元收购Precision Castparts的交易，导致了巴菲特直接将其记入了自己的账户。</blockquote></p><p> Berkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.</p><p><blockquote>伯克希尔并不是唯一一家在疫情期间增加现金储备的公司。亚马逊公司、谷歌母公司Alphabet公司和美国航空集团公司等公司在健康危机期间增持了大量股份，分析师表示，此举可能会导致一些收购。</blockquote></p><p> And the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.</p><p><blockquote>在包括Cheviot Value Management的达伦·波洛克(Darren Pollock)在内的投资者看来，不断增加的现金储备比其他选择更好。尽管第三季度回购了76亿美元，但巴菲特的现金储备仍增至创纪录水平，波洛克表示，这是伯克希尔健康状况的一个好迹象。</blockquote></p><p> “We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”</p><p><blockquote>波洛克表示：“我们对此感到满意，因为另一种选择是现金没有增长那么多，这意味着伯克希尔哈撒韦公司的运营公司质量没有我们想象的那么高。”波洛克的切维奥特拥有伯克希尔哈撒韦公司的股份。“看到现金在增加，看到他在一个恰好是回购的途径上部署了如此多的资金——而不是收购——但这些资金是以富有成效的方式使用的，这比看到现金的替代方案要好得多如果没有其他大型收购，现金就会稳定或下降。”</blockquote></p><p> Here are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:</p><p><blockquote>以下是伯克希尔周六第三季度财报的其他一些关键要点：</blockquote></p><p> Berkshire Appetite</p><p><blockquote>伯克希尔的胃口</blockquote></p><p> Buffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.</p><p><blockquote>巴菲特越来越依赖股票回购作为部署数十亿美元的一种方式。自2018年政策调整以来，伯克希尔在股票回购上花费了约510亿美元，超过了用于购买苹果股票的310亿美元，这是伯克希尔最大的股票赌注。</blockquote></p><p> In the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.</p><p><blockquote>第三季度，伯克希尔回购了76亿美元的股票，超过了上一期回购的60亿美元股票。</blockquote></p><p> BNSF’s Record</p><p><blockquote>BNSF的记录</blockquote></p><p> Record profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.</p><p><blockquote>伯克希尔旗下铁路公司BNSF创纪录的利润及其能源业务的强劲收益帮助该集团第三季度的营业利润提高了18%。</blockquote></p><p> That also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.</p><p><blockquote>这也有助于抵消伯克希尔保险公司痛苦的季度。这些企业报告称，由于汽车保险公司Geico的灾难成本增加和索赔趋势恶化，承保损失扩大至7.84亿美元。</blockquote></p><p></p>","source":"lsy1612507957220","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 Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</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\">\nBuffett Signals Caution With Berkshire on Stock-Selling Streak<blockquote>巴菲特对伯克希尔哈撒韦公司连续抛售股票表示谨慎</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-11-08 23:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.</p><p><blockquote>（彭博社）——随着亿万富翁投资者沃伦·巴菲特继续抛售，他对股市飙升表示谨慎。</blockquote></p><p> Buffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.</p><p><blockquote>巴菲特的伯克希尔哈撒韦公司连续第四个季度成为股票净卖家，这一趋势在2008年的数据中从未出现过。该公司最终出售的股票比在此期间购买的股票多了近20亿美元，现金储备攀升至创纪录的1,492亿美元。</blockquote></p><p> The selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.</p><p><blockquote>连续抛售表明，随着股市创下历史新高，巴菲特一直在努力寻找便宜货。由于这位91岁的老人和他的投资副手面临着天价标签和来自特殊目的收购公司浪潮的激烈竞争，该集团也未能进行一次引人注目的大型收购。</blockquote></p><p> “The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.</p><p><blockquote>爱德华·琼斯(Edward Jones)分析师吉姆·沙纳汉(Jim Shanahan)在接受电话采访时表示：“最大的问题是，伯克希尔本季度再次成为股票净卖家。”“这是现金储备持续上升的罪魁祸首”。</blockquote></p><p> Berkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.</p><p><blockquote>根据伯克希尔周六发布的第三季度监管文件，伯克希尔的销售额似乎主要来自于削减银行、保险和金融投资的持股。伯克希尔哈撒韦公司最近一直在削减某些股票，第二季度削减了对通用汽车公司的投资，并撤回了部分制药押注。该公司将于本月晚些时候发布第三季度股票调整。</blockquote></p><p> While Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.</p><p><blockquote>尽管巴菲特在过去四个季度一直是净卖家，但与他庞大的股票投资组合规模相比，这些销售额相对较小。在过去的九个月里，他卖出的股票比买入的多了近70亿美元，约占伯克希尔9月底股票投资组合公允价值的2.2%。</blockquote></p><p> Buffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.</p><p><blockquote>巴菲特在5月份警告投资者，随着SPAC席卷市场，伯克希尔哈撒韦公司在达成交易方面可能运气不佳，尽管他也预测这种繁荣可能不会持续下去。让挑战变得更加复杂的是，他最近的一次重大收购，即五年前以370亿美元收购Precision Castparts的交易，导致了巴菲特直接将其记入了自己的账户。</blockquote></p><p> Berkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.</p><p><blockquote>伯克希尔并不是唯一一家在疫情期间增加现金储备的公司。亚马逊公司、谷歌母公司Alphabet公司和美国航空集团公司等公司在健康危机期间增持了大量股份，分析师表示，此举可能会导致一些收购。</blockquote></p><p> And the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.</p><p><blockquote>在包括Cheviot Value Management的达伦·波洛克(Darren Pollock)在内的投资者看来，不断增加的现金储备比其他选择更好。尽管第三季度回购了76亿美元，但巴菲特的现金储备仍增至创纪录水平，波洛克表示，这是伯克希尔健康状况的一个好迹象。</blockquote></p><p> “We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”</p><p><blockquote>波洛克表示：“我们对此感到满意，因为另一种选择是现金没有增长那么多，这意味着伯克希尔哈撒韦公司的运营公司质量没有我们想象的那么高。”波洛克的切维奥特拥有伯克希尔哈撒韦公司的股份。“看到现金在增加，看到他在一个恰好是回购的途径上部署了如此多的资金——而不是收购——但这些资金是以富有成效的方式使用的，这比看到现金的替代方案要好得多如果没有其他大型收购，现金就会稳定或下降。”</blockquote></p><p> Here are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:</p><p><blockquote>以下是伯克希尔周六第三季度财报的其他一些关键要点：</blockquote></p><p> Berkshire Appetite</p><p><blockquote>伯克希尔的胃口</blockquote></p><p> Buffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.</p><p><blockquote>巴菲特越来越依赖股票回购作为部署数十亿美元的一种方式。自2018年政策调整以来，伯克希尔在股票回购上花费了约510亿美元，超过了用于购买苹果股票的310亿美元，这是伯克希尔最大的股票赌注。</blockquote></p><p> In the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.</p><p><blockquote>第三季度，伯克希尔回购了76亿美元的股票，超过了上一期回购的60亿美元股票。</blockquote></p><p> BNSF’s Record</p><p><blockquote>BNSF的记录</blockquote></p><p> Record profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.</p><p><blockquote>伯克希尔旗下铁路公司BNSF创纪录的利润及其能源业务的强劲收益帮助该集团第三季度的营业利润提高了18%。</blockquote></p><p> That also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.</p><p><blockquote>这也有助于抵消伯克希尔保险公司痛苦的季度。这些企业报告称，由于汽车保险公司Geico的灾难成本增加和索赔趋势恶化，承保损失扩大至7.84亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/buffett-signals-caution-berkshire-stock-140819517.html\">Bloomberg</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":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://finance.yahoo.com/news/buffett-signals-caution-berkshire-stock-140819517.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190184675","content_text":"(Bloomberg) -- Warren Buffett is signaling wariness with the soaring stock market as the billionaire investor extends a selling streak.\nBuffett’s Berkshire Hathaway Inc. was a net seller of equities for the fourth straight quarter, a trend not seen in data going back to 2008. The company ended up selling almost $2 billion more in stocks than it purchased during the period, adding to a cash pile that climbed to a record $149.2 billion.\nThe selling streak indicates Buffett has struggled to find bargains with the stock market hitting all-time highs. A big, splashy acquisition also eluded the conglomerate, as the 91-year old and his investing deputies confronted a combination of sky-high price tags and fierce competition from the wave of special purpose acquisition companies.\n“The big issue here is that Berkshire was a net seller of stocks again this quarter,” Jim Shanahan, an analyst with Edward Jones, said in a telephone interview. “That’s the primary culprit” of the cash pile continuing to rise.\nBerkshire’s sales appear to have largely come from cutting holdings in banks, insurance and financial investments, according to its third-quarter regulatory filing released Saturday. Berkshire has been paring certain stocks in recent periods, spending the second quarter trimming its investment in General Motors Co. and pulling back on some of its pharmaceutical bets. The company is set to release its third-quarter stock tweaks later this month.\nWhile Buffett’s been a consistent net seller these past four quarters, those sales have been relatively small compared with the massive size of his stock portfolio. Over the past nine months, he’s sold almost $7 billion more of stocks than he’s bought, roughly 2.2% of the fair value of Berkshire’s stock portfolio at the end of September.\nBuffett warned investors in May that Berkshire might not have much luck striking deals as SPACs gripped the market -- though he also predicted the boom probably wouldn’t last. Compounding the challenge, his most recent big acquisition, the $37 billion deal for Precision Castparts five years ago, resulted in a writedown that Buffett laid squarely at his own door.\nBerkshire isn’t alone in extending a cash pile amid the pandemic. Amazon.com Inc., Google-parent Alphabet Inc. and American Airlines Group Inc. were among companies that amassed significant holdings during the health crisis in a step analysts have said would likely lead to some acquisitions.\nAnd the rising cash pile is better than the alternative in the eyes of investors including Cheviot Value Management’s Darren Pollock. Even though Buffett’s cash pile still increased to a record despite the $7.6 billion of buybacks in the third quarter, Pollock says it’s a good sign about the health of Berkshire.\n“We’re happy with it because the alternative is that cash isn’t growing as much and that means that Berkshire’s operating companies aren’t of as high quality as we thought,” said Pollock, whose Cheviot owns shares in Berkshire. “To see that the cash is rising, to see that he’s deploying so much in one avenue which happens to be buybacks -- it’s not acquisitions -- but it’s being spent in a productive way, it’s so much better than the alternative of seeing that cash stabilize or decline without other large acquisitions.”\nHere are some other key takeaways from Berkshire’s third-quarter earnings on Saturday:\nBerkshire Appetite\nBuffett has increasingly leaned on share buybacks as one way to deploy billions of dollars. He’s spent about $51 billion on stock buybacks since a policy tweak in 2018, outpacing the $31 billion used to purchase shares of Apple Inc., Berkshire’s largest stock bet.\nIn the third quarter, Berkshire bought back $7.6 billion of stock, surpassing the $6 billion of shares repurchased in the previous period.\nBNSF’s Record\nRecord profit at Berkshire’s railroad, BNSF, and strong earnings from its energy businesses helped raise operating profit by 18% at the conglomerate during the third quarter.\nThat also aided in offsetting a painful quarter for Berkshire’s insurers. Those businesses reported an underwriting loss that widened to $784 million amid heightened catastrophe costs and worsening claims trends at auto insurer Geico.","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":2302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862807906,"gmtCreate":1632864936146,"gmtModify":1632864936146,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"I like it","listText":"I like it","text":"I like 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07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889571654,"gmtCreate":1631163499578,"gmtModify":1631884410713,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Rather buy uranium to participate in the growth of the energy market&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","listText":"Rather buy uranium to participate in the growth of the energy market&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","text":"Rather buy uranium to participate in the growth of the energy market $Uranium(UEC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/889571654","repostId":"2165399556","repostType":4,"isVote":1,"tweetType":1,"viewCount":279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885097513,"gmtCreate":1631742773032,"gmtModify":1631884410668,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Buy&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","listText":"Buy&nbsp;<a href=\"https://laohu8.com/S/UEC\">$Uranium(UEC)$</a>","text":"Buy $Uranium(UEC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/885097513","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","kind":"news","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=zh_CN&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes<blockquote>美国股市因对复苏和企业增税的担忧而收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-09-15 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p><p><blockquote>路透纽约-华尔街周二下跌，原因是经济不确定性和企业税率上调的可能性越来越大，抑制了投资者情绪，并引发了广泛的抛售，尽管通胀有缓解的迹象。</blockquote></p><p> Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p><p><blockquote>整个交易日乐观情绪消退，扭转了劳工部消费者价格指数报告发布后最初的涨势。美国三大股指均收于负值，提醒人们9月份对于股市来说是历史上艰难的一个月。</blockquote></p><p> So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p><p><blockquote>本月迄今为止，标普500已下跌近1.8%，尽管基准指数自年初以来已上涨超过18%。</blockquote></p><p> “There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p><p><blockquote>纽约CFRA Research首席投资策略师Sam Stovall表示：“市场有可能只是准备好经历一次迟来的调整。”“从季节性来看，9月往往是基金经理的粉饰期。”</blockquote></p><p> The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p><p><blockquote>高度传染性的Delta COVID变种的出现导致人们对从全球健康危机中复苏的看跌情绪增加，许多人现在预计股市将在今年年底前大幅调整。</blockquote></p><p> “We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p><p><blockquote>芝加哥Kingsview Asset Management投资组合经理保罗·诺尔特(Paul Nolte)表示：“我们仍处于人们几个月来一直呼吁的纠正模式。”“经济数据点一直低于预期，而这与德尔塔变异毒株的上升同时发生。”</blockquote></p><p> The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p><p><blockquote>CPI报告公布的8月份读数低于市场普遍预期，这一减速支持了美联储主席杰罗姆·鲍威尔的说法，即通胀飙升是暂时的，并平息了市场对美联储将比预期更早开始收紧货币政策的担忧。</blockquote></p><p> U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p><p><blockquote>美国国债收益率因数据而下跌，这给金融股带来压力，投资者的青睐转向增长，而牺牲了价值。[美国/]</blockquote></p><p> The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p><p><blockquote>随着美国总统乔·拜登（Joe Biden）的3.5万亿美元预算计划逐渐接近通过，人们期待已久的公司税上调（如果民主党获胜，将从21%上调至26.5%）即将实现。</blockquote></p><p> The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p><p><blockquote>道琼工业指数跌292.06点，或0.84%，报34577.57点；标普500跌25.68点，跌幅0.57%，报4,443.05点；纳斯达克综合指数下跌67.82点，跌幅0.45%，至15037.76点。</blockquote></p><p> All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p><p><blockquote>标普500 11大板块全部收红，能源和金融板块跌幅最大。</blockquote></p><p> Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p><p><blockquote>苹果公司在今年最大的产品发布会上推出了iPhone 13，并为其iPad和苹果手表设备添加了新功能，因为该公司面临着法院对其商业行为的更严格审查。其股价收盘下跌1.0%，对标普500和纳斯达克拖累最大。</blockquote></p><p> Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p><p><blockquote>TurboTax制造商Intuit Inc宣布将以120亿美元收购数字营销公司Mailchimp后，该公司股价上涨1.9%。</blockquote></p><p> CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p><p><blockquote>德国生物技术公司CureVac取消其实验性COVID-19疫苗的生产交易后，股价下跌8.0%。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为2.25比1；在纳斯达克，2.40比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p><p><blockquote>标普500创下两个52周新高和两个新低；纳斯达克综合指数录得50个新高和107个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为100.7亿股，而过去20个交易日的平均成交量为93.8亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Reuters</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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":865310538,"gmtCreate":1632951915240,"gmtModify":1632951915362,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Will keep an eye on it","listText":"Will keep an eye on it","text":"Will keep an eye on it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/865310538","repostId":"2171981471","repostType":4,"isVote":1,"tweetType":1,"viewCount":2415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":810839117,"gmtCreate":1629960550539,"gmtModify":1633681161602,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/810839117","repostId":"1136417493","repostType":4,"isVote":1,"tweetType":1,"viewCount":537,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":691787004,"gmtCreate":1640245084253,"gmtModify":1640245580833,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"There are also price rises in taxes, school fees, public transport, insurances ect. They are never going to reverse and will almost certainly force workers to demand higher wages","listText":"There are also price rises in taxes, school fees, public transport, insurances ect. They are never going to reverse and will almost certainly force workers to demand higher wages","text":"There are also price rises in taxes, school fees, public transport, insurances ect. They are never going to reverse and will almost certainly force workers to demand higher wages","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/691787004","repostId":"1166370237","repostType":4,"repost":{"id":"1166370237","kind":"news","pubTimestamp":1640244394,"share":"https://www.laohu8.com/m/news/1166370237?lang=zh_CN&edition=full","pubTime":"2021-12-23 15:26","market":"us","language":"en","title":"After Christmas, Get Ready for the 'Inflation Bullwhip'<blockquote>圣诞节后，为“通胀牛鞭”做好准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166370237","media":"zerohedge","summary":"The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy i","content":"<p>The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"</p><p><blockquote>美国经济即将经历相当于印第安纳·琼斯最喜欢的玩具的经济效应，即所谓的“牛鞭效应”。</blockquote></p><p> All that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.</p><p><blockquote>这意味着，手腕的一个小小的轻轻一弹，就会导致振荡供应链鞭子末端的大动作...通常，鞭子末端有一个“裂缝”。</blockquote></p><p> Investors should expect two things in the next few months...</p><p><blockquote>未来几个月，投资者应该期待两件事...</blockquote></p><p> <ol>  <li>Post-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.</li>  <li>All the talk about inflation – now the highest since 1982 – is going to disappear.</li> </ol> <b>How We Got Here</b></p><p><blockquote><ol><li>相比之下，圣诞节后的购买将使黑色星期五和网络星期一看起来像高价的人行道销售。</li><li>所有关于通货膨胀的讨论——现在是1982年以来的最高水平——都将消失。</li></ol><b>我们是如何来到这里的</b></blockquote></p><p> Millions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically&nbsp;<i>everything</i>... has helped drive a sharp economic recovery.</p><p><blockquote>在COVID-19封锁和大流行刺激现金神奇地存入他们的银行账户后，数百万美国人进入了“善待自己”模式。对PlayStation、木材、本田CRV、LG InstaView冰箱、五件套竹制花园套装的需求<i>一切</i>...帮助推动了经济的急剧复苏。</blockquote></p><p> But too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...</p><p><blockquote>但是太多的人想要东西会导致东西的短缺。没有足够的钱。如果生产的产品减少，短缺会更严重...或者如果它在运输途中被卡住了...</blockquote></p><p> Stimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.</p><p><blockquote>刺激资金满足了被压抑的需求，并将膝盖踢出了全球供应链。</blockquote></p><p> It used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.</p><p><blockquote>苹果(AAPL)iPhone从横跨49个国家的网络获取信息，这曾经是资本主义的一种高度胜利。但在供应链瘫痪的世界里，这是一个令人头疼的问题。</blockquote></p><p> Like other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted...&nbsp;<i>until it stops working</i>.</p><p><blockquote>就像现代文明的其他基础设施一样——例如互联网、电网和蜂窝网络——全球供应链是我们认为理所当然的事情...<i>直到它停止工作</i>.</blockquote></p><p> Still, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.</p><p><blockquote>不过，如果你今天真的想要一些东西——牛柳、iPhone 13、三星65英寸4K电视——你可能愿意花更多钱。毕竟，某样东西的短缺（通常）并不意味着它根本不可用。相反，这意味着价格上涨。</blockquote></p><p> It's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.</p><p><blockquote>毫不奇怪，截至11月份的同比通胀率为6.8%，为1982年以来的最高水平。</blockquote></p><p> <b>The Most Powerful Force in the World</b></p><p><blockquote><b>世界上最强大的力量</b></blockquote></p><p> Inflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as&nbsp;<i>a force that will not be denied</i>...</p><p><blockquote>通货膨胀就在那里，伴随着重力、被蔑视的人的愤怒和饥饿的婴儿，就像<i>一股不可否认的力量</i>...</blockquote></p><p> But for my money, what's more powerful than that force is&nbsp;<b>mean reversion</b>. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.</p><p><blockquote>但在我看来，比那股力量更强大的是<b>均值回归</b>.这意味着每一次强烈的反应，事情最终都会反过来....再次找到通往中间的路。</blockquote></p><p> When applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.</p><p><blockquote>当应用于投资时，均值回归指的是极端的价格变动最终会修正——像橡皮筋一样恢复到均值。当应用于数月的全球供应链紧缩时...迟早，事情会反弹。</blockquote></p><p> We can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.</p><p><blockquote>我们已经可以从货物运输成本的大幅下降中看到这一点。衡量干货运力需求的波罗的海干散货运力指数在10月初触及15年来的高点，此后已下跌一半以上。运费正在下降，可用的船舶存储能力正在上升——这与全球供应链面临压力时发生的情况相反。</blockquote></p><p> Meanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.</p><p><blockquote>与此同时，一些全球汽车制造商表示，他们预计半导体供应将增加...芯片的短缺一直是汽车的一大瓶颈，其他使用微芯片的东西也是如此——从手机到汽车再到足球头盔。</blockquote></p><p> And since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.</p><p><blockquote>自9月份以来，Markit采购经理人指数的月度制造业数据显示，以越南和马来西亚为首的亚洲大部分地区都出现了强劲改善……这意味着整个地区——世界六大制造业国家中的四个——的产出正在反弹。</blockquote></p><p> <b>Here Comes the Bullwhip</b></p><p><blockquote><b>牛鞭来了</b></blockquote></p><p> You know what comes next.</p><p><blockquote>你知道接下来会发生什么。</blockquote></p><p> Retailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.</p><p><blockquote>花了几个月时间向消费者道歉的零售商即将发现自己被商品淹没了。所有好市多的沙发、速溶壶、芒果干包、特斯拉和其他所有订购的东西都会到达...还有很多没有订购的东西。</blockquote></p><p> Shortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"</p><p><blockquote>短缺会变成过剩，“断货”会变成“减库存销售”。</blockquote></p><p> The \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.</p><p><blockquote>“牛鞭效应”是当需求扭曲误导供应链时会发生的事情...它即将全力袭来。</blockquote></p><p> So if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.</p><p><blockquote>因此，如果你能说服家人推迟一段时间过圣诞节，明年你的圣诞钱会有更多的回报。这是因为一切都将成为所有销售之母，因为全球供应链最终会堵塞所有尚未上路的商品。</blockquote></p><p> <b>The Ultimate Contrarian Indicator</b></p><p><blockquote><b>终极反向指标</b></blockquote></p><p> And there's another positive side effect...&nbsp;<i>lower inflation</i>.</p><p><blockquote>还有另一个积极的副作用...<i>降低通货膨胀</i>.</blockquote></p><p> It's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.</p><p><blockquote>这并不复杂...随着整个经济中商品价格上涨压力的消散，通胀将会下降。</blockquote></p><p></p><p> <i>New York Times</i>bestselling author Jim Rickards&nbsp;recently appeared on my colleague Daniela Cambone's show&nbsp;to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)</p><p><blockquote><i>纽约时报</i>畅销书作家吉姆·里卡兹（Jim Rickards）最近出现在我的同事丹妮拉·坎伯恩（Daniela Cambone）的节目中说，由于美联储预计即将加息，你应该“预计通胀会很快下降”....他预测，你可能会看到严重的“紧缩变成疲软”，明年可能会加息三次。（Quoth the Raven也在本网站上报道了那次采访。）</blockquote></p><p> What's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.</p><p><blockquote>此外，通胀下降还有另一个原因...美联储主席杰罗姆·鲍威尔终于举起了白旗，承认通胀不是“暂时的”。这是美联储首选的通胀术语，通胀全年一直在稳步上升，从1月份的年率1.4%升至11月份的6.8%。</blockquote></p><p> \"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.</p><p><blockquote>“暂时性”表明，随着经济摆脱大流行引发的供应短缺，以及COVID-19刺激现金推动的需求消散，近期的价格上涨将逐渐消失。</blockquote></p><p> And ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months –&nbsp;<i>it's finally going to go away</i>.</p><p><blockquote>具有讽刺意味的是，正如美联储承认显而易见的事实——通胀将持续超过几个月——<i>它终于要消失了</i>.</blockquote></p><p> The Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.</p><p><blockquote>美联储正在成为最终的反向指标...众所周知，市场顶部的钟声敲响。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nAfter Christmas, Get Ready for the 'Inflation Bullwhip'<blockquote>圣诞节后，为“通胀牛鞭”做好准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-12-23 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"</p><p><blockquote>美国经济即将经历相当于印第安纳·琼斯最喜欢的玩具的经济效应，即所谓的“牛鞭效应”。</blockquote></p><p> All that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.</p><p><blockquote>这意味着，手腕的一个小小的轻轻一弹，就会导致振荡供应链鞭子末端的大动作...通常，鞭子末端有一个“裂缝”。</blockquote></p><p> Investors should expect two things in the next few months...</p><p><blockquote>未来几个月，投资者应该期待两件事...</blockquote></p><p> <ol>  <li>Post-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.</li>  <li>All the talk about inflation – now the highest since 1982 – is going to disappear.</li> </ol> <b>How We Got Here</b></p><p><blockquote><ol><li>相比之下，圣诞节后的购买将使黑色星期五和网络星期一看起来像高价的人行道销售。</li><li>所有关于通货膨胀的讨论——现在是1982年以来的最高水平——都将消失。</li></ol><b>我们是如何来到这里的</b></blockquote></p><p> Millions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically&nbsp;<i>everything</i>... has helped drive a sharp economic recovery.</p><p><blockquote>在COVID-19封锁和大流行刺激现金神奇地存入他们的银行账户后，数百万美国人进入了“善待自己”模式。对PlayStation、木材、本田CRV、LG InstaView冰箱、五件套竹制花园套装的需求<i>一切</i>...帮助推动了经济的急剧复苏。</blockquote></p><p> But too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...</p><p><blockquote>但是太多的人想要东西会导致东西的短缺。没有足够的钱。如果生产的产品减少，短缺会更严重...或者如果它在运输途中被卡住了...</blockquote></p><p> Stimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.</p><p><blockquote>刺激资金满足了被压抑的需求，并将膝盖踢出了全球供应链。</blockquote></p><p> It used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.</p><p><blockquote>苹果(AAPL)iPhone从横跨49个国家的网络获取信息，这曾经是资本主义的一种高度胜利。但在供应链瘫痪的世界里，这是一个令人头疼的问题。</blockquote></p><p> Like other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted...&nbsp;<i>until it stops working</i>.</p><p><blockquote>就像现代文明的其他基础设施一样——例如互联网、电网和蜂窝网络——全球供应链是我们认为理所当然的事情...<i>直到它停止工作</i>.</blockquote></p><p> Still, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.</p><p><blockquote>不过，如果你今天真的想要一些东西——牛柳、iPhone 13、三星65英寸4K电视——你可能愿意花更多钱。毕竟，某样东西的短缺（通常）并不意味着它根本不可用。相反，这意味着价格上涨。</blockquote></p><p> It's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.</p><p><blockquote>毫不奇怪，截至11月份的同比通胀率为6.8%，为1982年以来的最高水平。</blockquote></p><p> <b>The Most Powerful Force in the World</b></p><p><blockquote><b>世界上最强大的力量</b></blockquote></p><p> Inflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as&nbsp;<i>a force that will not be denied</i>...</p><p><blockquote>通货膨胀就在那里，伴随着重力、被蔑视的人的愤怒和饥饿的婴儿，就像<i>一股不可否认的力量</i>...</blockquote></p><p> But for my money, what's more powerful than that force is&nbsp;<b>mean reversion</b>. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.</p><p><blockquote>但在我看来，比那股力量更强大的是<b>均值回归</b>.这意味着每一次强烈的反应，事情最终都会反过来....再次找到通往中间的路。</blockquote></p><p> When applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.</p><p><blockquote>当应用于投资时，均值回归指的是极端的价格变动最终会修正——像橡皮筋一样恢复到均值。当应用于数月的全球供应链紧缩时...迟早，事情会反弹。</blockquote></p><p> We can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.</p><p><blockquote>我们已经可以从货物运输成本的大幅下降中看到这一点。衡量干货运力需求的波罗的海干散货运力指数在10月初触及15年来的高点，此后已下跌一半以上。运费正在下降，可用的船舶存储能力正在上升——这与全球供应链面临压力时发生的情况相反。</blockquote></p><p> Meanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.</p><p><blockquote>与此同时，一些全球汽车制造商表示，他们预计半导体供应将增加...芯片的短缺一直是汽车的一大瓶颈，其他使用微芯片的东西也是如此——从手机到汽车再到足球头盔。</blockquote></p><p> And since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.</p><p><blockquote>自9月份以来，Markit采购经理人指数的月度制造业数据显示，以越南和马来西亚为首的亚洲大部分地区都出现了强劲改善……这意味着整个地区——世界六大制造业国家中的四个——的产出正在反弹。</blockquote></p><p> <b>Here Comes the Bullwhip</b></p><p><blockquote><b>牛鞭来了</b></blockquote></p><p> You know what comes next.</p><p><blockquote>你知道接下来会发生什么。</blockquote></p><p> Retailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.</p><p><blockquote>花了几个月时间向消费者道歉的零售商即将发现自己被商品淹没了。所有好市多的沙发、速溶壶、芒果干包、特斯拉和其他所有订购的东西都会到达...还有很多没有订购的东西。</blockquote></p><p> Shortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"</p><p><blockquote>短缺会变成过剩，“断货”会变成“减库存销售”。</blockquote></p><p> The \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.</p><p><blockquote>“牛鞭效应”是当需求扭曲误导供应链时会发生的事情...它即将全力袭来。</blockquote></p><p> So if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.</p><p><blockquote>因此，如果你能说服家人推迟一段时间过圣诞节，明年你的圣诞钱会有更多的回报。这是因为一切都将成为所有销售之母，因为全球供应链最终会堵塞所有尚未上路的商品。</blockquote></p><p> <b>The Ultimate Contrarian Indicator</b></p><p><blockquote><b>终极反向指标</b></blockquote></p><p> And there's another positive side effect...&nbsp;<i>lower inflation</i>.</p><p><blockquote>还有另一个积极的副作用...<i>降低通货膨胀</i>.</blockquote></p><p> It's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.</p><p><blockquote>这并不复杂...随着整个经济中商品价格上涨压力的消散，通胀将会下降。</blockquote></p><p></p><p> <i>New York Times</i>bestselling author Jim Rickards&nbsp;recently appeared on my colleague Daniela Cambone's show&nbsp;to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)</p><p><blockquote><i>纽约时报</i>畅销书作家吉姆·里卡兹（Jim Rickards）最近出现在我的同事丹妮拉·坎伯恩（Daniela Cambone）的节目中说，由于美联储预计即将加息，你应该“预计通胀会很快下降”....他预测，你可能会看到严重的“紧缩变成疲软”，明年可能会加息三次。（Quoth the Raven也在本网站上报道了那次采访。）</blockquote></p><p> What's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.</p><p><blockquote>此外，通胀下降还有另一个原因...美联储主席杰罗姆·鲍威尔终于举起了白旗，承认通胀不是“暂时的”。这是美联储首选的通胀术语，通胀全年一直在稳步上升，从1月份的年率1.4%升至11月份的6.8%。</blockquote></p><p> \"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.</p><p><blockquote>“暂时性”表明，随着经济摆脱大流行引发的供应短缺，以及COVID-19刺激现金推动的需求消散，近期的价格上涨将逐渐消失。</blockquote></p><p> And ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months –&nbsp;<i>it's finally going to go away</i>.</p><p><blockquote>具有讽刺意味的是，正如美联储承认显而易见的事实——通胀将持续超过几个月——<i>它终于要消失了</i>.</blockquote></p><p> The Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.</p><p><blockquote>美联储正在成为最终的反向指标...众所周知，市场顶部的钟声敲响。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/news/2021-12-22/after-christmas-get-ready-inflation-bullwhip\">zerohedge</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/news/2021-12-22/after-christmas-get-ready-inflation-bullwhip","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166370237","content_text":"The American economy is about to experience the economic equivalent of Indiana Jones' favorite toy in what's called the \"bullwhip effect.\"\nAll that means is that one small flick of the wrist leads to a big movement at the end of an oscillating supply-chain whip... and usually, a \"crack\" at the end of the whip.\nInvestors should expect two things in the next few months...\n\nPost-Christmas buying that will make Black Friday and Cyber Monday look like high-priced sidewalk sales by comparison.\nAll the talk about inflation – now the highest since 1982 – is going to disappear.\n\nHow We Got Here\nMillions of Americans moved into \"treat yourself\" mode after COVID-19 lockdowns and pandemic stimulus cash magically deposited into their bank accounts. Demand for PlayStations, lumber, Honda CRVs, LG InstaView fridges, five-piece bamboo garden sets, practically everything... has helped drive a sharp economic recovery.\nBut too many people wanting stuff results in a shortage of stuff. There isn't enough to go around. And that shortage is worse if less stuff is produced... or if it's stuck in transit...\nStimulus cash met up with pent-up demand and kicked the knees out of the global supply chain.\nIt used to be a high form of capitalist triumph that Apple (AAPL) iPhone sources inputs from a network spanning 49 countries. But in a world of supply-chain paralysis, it's a headache.\nLike other basic infrastructure of modern civilization – the Internet, the electric grid, and cellular networks, for example – the global supply chain is something that we take for granted... until it stops working.\nStill, if you really want something today – beef tenderloin, an iPhone 13, a Samsung 65-inch 4K TV – you're likely willing to pay more. After all, a shortage of something doesn't (usually) mean that it's not available at all. Rather, it means that the price goes up.\nIt's not a surprise that year-over-year inflation as of November clocked in at 6.8%, the highest reading since 1982.\nThe Most Powerful Force in the World\nInflation is right up there, along with gravity, the wrath of a person scorned, and a hungry baby, as a force that will not be denied...\nBut for my money, what's more powerful than that force is mean reversion. It means that for every strong reaction, things eventually swing back the other way... and find their way to the middle again.\nWhen applied to investing, mean reversion refers to extreme price movements eventually correcting – reverting to the mean, like a rubber band. And when applied to many months of global supply-chain constrictions... sooner or later, things will spring back.\nWe can already see it in the sharp decline in the cost of transporting goods. The Baltic Dry Index, which measures demand for capacity to ship dry goods, hit 15-year highs in early October – and since then, has fallen by more than half. Shipping rates are falling, and available ship storage capacity is rising – the opposite of what happens when global supply chains are under strain.\nMeanwhile, a number of global automakers have indicated that they expect semiconductor supplies to increase... the shortage of which has been a big bottleneck for cars, along with everything else that uses microchips – from cellphones to cars to football helmets.\nAnd since September, monthly manufacturing data from his Markit's Purchasing Managers' Index has shown strong improvement throughout much of Asia, led by Vietnam and Malaysia... That means output throughout that region – home to four of the world's six biggest manufacturing countries – is rebounding.\nHere Comes the Bullwhip\nYou know what comes next.\nRetailers that have spent months offering warmed-over \"global supply chain problem\" apologies to consumers are about to find themselves swamped with goods. All the Costco couches, Instant Pots, packages of dried mango, Teslas, and everything else that's been on order, will arrive... along with a lot more that wasn't on order.\nShortages will turn into surpluses, and \"out of stock\" will become \"inventory reduction sales.\"\nThe \"bullwhip effect\" is what happens when demand distortion misinforms the supply chain... and it's about to hit in full force.\nSo if you can convince the family to postpone Christmas for a while, you'll get a lot more return on your Christmas dollar next year. That's because everything is going to be on the mother of all sales, as the global supply chain finally chokes up all the goods that haven't been on their way.\nThe Ultimate Contrarian Indicator\nAnd there's another positive side effect... lower inflation.\nIt's not complicated... As the upward price pressure on goods across the economy dissipates, inflation will fall.\nNew York Timesbestselling author Jim Rickards recently appeared on my colleague Daniela Cambone's show to say you should \"expect inflation to come down very quickly,\" due to incoming rate hikes expected from the Federal Reserve.... And you could see severe, \"tightening into weakness,\" with a potential of three rate hikes next year, he predicts. (Quoth the Raven covered that interview here on this site as well.)\nWhat's more, there's another reason for inflation to decline... Federal Reserve Chair Jerome Powell finally waved the white flag and admitted that inflation isn't \"transitory.\" That's been the Fed's preferred term for inflation, which has been steadily rising all year, from an annual rate of 1.4% in January to 6.8% in November.\n\"Transitory\" suggested that as the economy moved past pandemic-induced supply shortages, and as demand fueled by COVID-19 stimulus cash dissipated, recent price increases would gradually disappear.\nAnd ironically, just as the Fed acknowledged the obvious – that inflation would be around for longer than a few months – it's finally going to go away.\nThe Fed is becoming the ultimate contrarian indicator... the proverbial bell ringing at the top of the market.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868949847,"gmtCreate":1632581952789,"gmtModify":1632655289659,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"amazing","listText":"amazing","text":"amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868949847","repostId":"1149730497","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":892907702,"gmtCreate":1628629685206,"gmtModify":1633745682677,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Crypto is dead","listText":"Crypto is dead","text":"Crypto is dead","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892907702","repostId":"1132796864","repostType":4,"repost":{"id":"1132796864","kind":"news","pubTimestamp":1628608992,"share":"https://www.laohu8.com/m/news/1132796864?lang=zh_CN&edition=full","pubTime":"2021-08-10 23:23","market":"us","language":"en","title":"Coinbase's Head Of Capital Markets Resigns After Crypto Exchange Reportedly Shifts Focus<blockquote>据报道，加密货币交易所转移焦点后，Coinbase资本市场主管辞职</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132796864","media":"Benzinga","summary":"Brett Redfearn, who headed capital markets at Coinbase Global Inc(NASDAQ:COIN), has resigned from hi","content":"<p><div> Brett Redfearn, who headed capital markets at Coinbase Global Inc(NASDAQ:COIN), has resigned from his position at the crypto exchange. What Happened:According to a report from theWall Street Journal, ...</p><p><blockquote><div>Coinbase Global Inc（纳斯达克股票代码：COIN）资本市场主管Brett Redfearn已辞去加密货币交易所的职务。事情经过：根据《华尔街日报》的报道，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>Coinbase's Head Of Capital Markets Resigns After Crypto Exchange Reportedly Shifts Focus<blockquote>据报道，加密货币交易所转移焦点后，Coinbase资本市场主管辞职</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\">\nCoinbase's Head Of Capital Markets Resigns After Crypto Exchange Reportedly Shifts Focus<blockquote>据报道，加密货币交易所转移焦点后，Coinbase资本市场主管辞职</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-10 23:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Brett Redfearn, who headed capital markets at Coinbase Global Inc(NASDAQ:COIN), has resigned from his position at the crypto exchange. What Happened:According to a report from theWall Street Journal, ...</p><p><blockquote><div>Coinbase Global Inc（纳斯达克股票代码：COIN）资本市场主管Brett Redfearn已辞去加密货币交易所的职务。事情经过：根据《华尔街日报》的报道，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus\">Benzinga</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":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.benzinga.com/markets/cryptocurrency/21/08/22417307/coinbases-head-of-capital-markets-resigns-after-crypto-exchange-reportedly-shifts-focus","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132796864","content_text":"Brett Redfearn, who headed capital markets at Coinbase Global Inc(NASDAQ:COIN), has resigned from his position at the crypto exchange.\nWhat Happened:According to a report from theWall Street Journal, people familiar with the matter disclosed that his reasons for leaving Coinbase had to do with the crypto-exchange shifting its focus away from digital asset securities.\nRedfearn was one of Coinbase’s most high-profile hires, having served as the former director of trading and markets at the United States Securities and Exchange Commission (SEC) before joining the crypto exchange.\nThe executive joined Coinbase’s ranks just two weeks before the exchange’s public listing.\nAblog postfrom Coinbase’s Chief Product Officer Surojit Chatterjee in March described Redfearn’s role at the company as the person responsible for defining and driving a vision and strategy to set the global standard for crypto capital markets, including digital asset securities and its crypto trading platform.\n“I believe that a digitized trading ecosystem can help democratize retail investors’ ability to access our capital markets on a fair and level playing field. I also believe that instantaneous settlement will eventually be possible, which could ameliorate capital requirements and improve market liquidity,” said Redfearn at the time.\nNow, in just four months since he assumed the role of Vice President of Capital Markets at Coinbase, Redfearn appears to have resigned.\nPrice Action:Coinbase shares were trading 5.16% lower, at $2650.47 at press time.\nShares of the crypto exchange moved in tandem with crypto markets that reached $1.9 trillion for the first time since prices crashed in May.\nAt press time, the market-leading cryptocurrency Bitcoin(CRYPTO: BTC) traded at $45,410, gaining as much as 17.84% over the past week.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860909009,"gmtCreate":1632113805501,"gmtModify":1632802738761,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Nobody could have expected this to run so long","listText":"Nobody could have expected this to run so long","text":"Nobody could have expected this to run so long","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860909009","repostId":"1147063668","repostType":4,"repost":{"id":"1147063668","kind":"news","pubTimestamp":1632110101,"share":"https://www.laohu8.com/m/news/1147063668?lang=zh_CN&edition=full","pubTime":"2021-09-20 11:55","market":"us","language":"en","title":"GameStop: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147063668","media":"Seeking Alpha","summary":"Summary\n\nGameStop continues to be a struggling video gaming retailer with limited upside and no abil","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>GameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.</li>  <li>With short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.</li>  <li>We stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee370c1ebf4419a57b44005fd9139eda\" tg-width=\"1536\" tg-height=\"1050\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>游戏驿站仍然是一家苦苦挣扎的视频游戏零售商，上涨空间有限，也没有能力在短期内创造额外的股东价值。</li><li>由于空头利息低于15%，投资者不应期望在接下来的几个月内看到另一次紧缩。</li><li>我们坚持我们的观点，最好避开游戏驿站，特别是因为其股票以目前的价格被严重高估。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> It’s safe to say that GameStop’s (GME) squeeze has run its course and with a&nbsp;short interest&nbsp;of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.</p><p><blockquote>可以肯定地说，游戏驿站(GME)的挤压已经结束，空头利息低于15%，投资者不应指望很快会看到另一次挤压发生。此外，由于游戏驿站继续努力提高业绩，而游戏行业却经历了两位数的增长，该零售商不太可能在可预见的未来创造额外的股东价值。考虑到这一点，我们坚持我们的观点，即最好避免游戏驿站，特别是因为它在当前水平上被严重高估。</blockquote></p><p> <b>Nothing To Look At</b></p><p><blockquote><b>没什么可看的</b></blockquote></p><p> GameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last&nbsp;article&nbsp;on the company was published in late June, while the S&amp;P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.</p><p><blockquote>现阶段，游戏驿站仍然是一家苦苦挣扎的视频游戏零售商。在视频游戏行业十年来最大的增长期间，其业务未能显着改善，而且不太可能很快改善。尽管散户交易员今年早些时候成功挤压了卖空者，但游戏驿站的股票近几个月未能获得任何牵引力。当我们说它的势头正在消退时，我们是对的，因为该股较我们6月底发表上一篇关于该公司的文章时下跌了近7%，而标普500同期上涨了5%以上。展望未来，我们仍然相信游戏驿站的股价在可预见的未来将进一步贬值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4696f8a9da1fed768fa7fb834d81999b\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> Just last week GameStop&nbsp;released&nbsp;its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.</p><p><blockquote>就在上周，游戏驿站发布了第二季度财报。在此期间，该公司仅实现收入11.8亿美元，同比增长25.3%，仅超出预期6000万美元。问题是，25.3%的同比增长对于游戏驿站这样的公司来说是可怕的，因为去年同期该公司的许多商店因疫情而关闭，并且产生的收入很少。除此之外，该公司的非GAAP每股收益为-0.76美元，比预期低0.09美元，而净亏损为6160万美元。</blockquote></p><p> The biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.</p><p><blockquote>游戏驿站最大的缺点是它在视频游戏行业没有任何独特的定位。该公司充当中间商，对发行商或消费者没有明显优势，同时其以零售为中心的商业模式无法适应游戏可以轻松合法地在线下载的新现实。游戏驿站的另一个问题是，第二季度末，其大部分收入来自去年发布的游戏机等硬件的销售。一旦对新设备的需求随着时间的推移而减少，业务硬件方面的销售额也会下降。</blockquote></p><p> With Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.</p><p><blockquote>随着Ryan Cohen成为新任董事会主席，游戏驿站目前的目标是转向电子商务业务。然而，我们很难相信该公司有机会成为电子商务领域的视频游戏巨头。问题是游戏驿站在软件业务上没有任何定价权，因为微软（MSFT）、索尼（SNE）、育碧（OTCPK：UBSFY）、艺电（EA）等出版商已经领先于游戏驿站在线业务。他们中的大多数都有自己的第一方订阅服务，这使得游戏玩家直接使用这些服务并以大幅折扣玩游戏比从游戏驿站购买游戏更具吸引力。最重要的是，由于PlayStation Now和Xbox Cloud Gaming等服务的推出，云游戏逐年变得更加现实，这些服务让消费者无需首先拥有游戏即可玩游戏。随着该行业每年都在不断数字化，游戏驿站将继续失去市场份额，因为其零售店将继续消耗现金，而电子商务努力不太可能很快产生有意义的回报。</blockquote></p><p> Another downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.</p><p><blockquote>游戏驿站的另一个缺点是，管理层对游戏驿站将如何转型保持沉默，让投资者蒙在鼓里。在过去三次会议评级上，分析师没有提出任何问题，也没有发布任何指导意见。我们认为这是一个主要的危险信号，并认为这是游戏驿站投资缺乏吸引力的主要原因之一。</blockquote></p><p></p><p> The only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2&nbsp;stood&nbsp;at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.</p><p><blockquote>该公司唯一的积极之处在于它的资产负债表没有过度杠杆化，因为其第二季度末的流动性为17.2亿美元，而长期债务仅为4750万美元。然而，除此之外，我们没有看到游戏驿站的任何其他优势，并认为其势头将继续消退。可以肯定地说，挤压已经结束，因为该股的空头利息不到15%，而且目前水平不存在增长催化剂。最重要的是，该公司的年收入不太可能很快恢复到大流行前的水平。目前，该业务预计今年的年收入将继续低于60亿美元，因为其以零售为中心的商业模式正在慢慢消亡，而视频游戏行业每年仍以两位数的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb72f458ec8ffd4315f63b7f456e4b13\" tg-width=\"875\" tg-height=\"375\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> In addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability&nbsp;metrics&nbsp;are below the sector median, while most of its margins are negative.</p><p><blockquote>此外，在游戏行业增长的过去三年中，游戏驿站的业务一直处于无利可图的状态，今年也很可能保持无利可图，因为该公司几乎所有的盈利指标都低于行业中位数，而大部分利润率都是负面的。</blockquote></p><p> Considering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current&nbsp;consensus&nbsp;price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.</p><p><blockquote>考虑到所有这些，我们发现很难证明以约150亿美元的市值购买游戏驿站股票是合理的，因为我们认为没有任何催化剂可以帮助该公司改善未来的业绩。此外，大多数华尔街分析师仍然看跌该股，因为游戏驿站股票目前的一致目标价为每股37.50美元，较当前市场价格下跌超过75%。因此，我们坚持认为势头正在消退，现阶段最好避免游戏驿站。</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>GameStop: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</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: With Short Interest Of Less Than 15% Don't Expect Another Squeeze<blockquote>游戏驿站：空头利息低于15%，预计不会再次出现挤压</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\">2021-09-20 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>GameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.</li>  <li>With short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.</li>  <li>We stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee370c1ebf4419a57b44005fd9139eda\" tg-width=\"1536\" tg-height=\"1050\" width=\"100%\" height=\"auto\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>游戏驿站仍然是一家苦苦挣扎的视频游戏零售商，上涨空间有限，也没有能力在短期内创造额外的股东价值。</li><li>由于空头利息低于15%，投资者不应期望在接下来的几个月内看到另一次紧缩。</li><li>我们坚持我们的观点，最好避开游戏驿站，特别是因为其股票以目前的价格被严重高估。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> It’s safe to say that GameStop’s (GME) squeeze has run its course and with a&nbsp;short interest&nbsp;of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.</p><p><blockquote>可以肯定地说，游戏驿站(GME)的挤压已经结束，空头利息低于15%，投资者不应指望很快会看到另一次挤压发生。此外，由于游戏驿站继续努力提高业绩，而游戏行业却经历了两位数的增长，该零售商不太可能在可预见的未来创造额外的股东价值。考虑到这一点，我们坚持我们的观点，即最好避免游戏驿站，特别是因为它在当前水平上被严重高估。</blockquote></p><p> <b>Nothing To Look At</b></p><p><blockquote><b>没什么可看的</b></blockquote></p><p> GameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last&nbsp;article&nbsp;on the company was published in late June, while the S&amp;P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.</p><p><blockquote>现阶段，游戏驿站仍然是一家苦苦挣扎的视频游戏零售商。在视频游戏行业十年来最大的增长期间，其业务未能显着改善，而且不太可能很快改善。尽管散户交易员今年早些时候成功挤压了卖空者，但游戏驿站的股票近几个月未能获得任何牵引力。当我们说它的势头正在消退时，我们是对的，因为该股较我们6月底发表上一篇关于该公司的文章时下跌了近7%，而标普500同期上涨了5%以上。展望未来，我们仍然相信游戏驿站的股价在可预见的未来将进一步贬值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4696f8a9da1fed768fa7fb834d81999b\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> Just last week GameStop&nbsp;released&nbsp;its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.</p><p><blockquote>就在上周，游戏驿站发布了第二季度财报。在此期间，该公司仅实现收入11.8亿美元，同比增长25.3%，仅超出预期6000万美元。问题是，25.3%的同比增长对于游戏驿站这样的公司来说是可怕的，因为去年同期该公司的许多商店因疫情而关闭，并且产生的收入很少。除此之外，该公司的非GAAP每股收益为-0.76美元，比预期低0.09美元，而净亏损为6160万美元。</blockquote></p><p> The biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.</p><p><blockquote>游戏驿站最大的缺点是它在视频游戏行业没有任何独特的定位。该公司充当中间商，对发行商或消费者没有明显优势，同时其以零售为中心的商业模式无法适应游戏可以轻松合法地在线下载的新现实。游戏驿站的另一个问题是，第二季度末，其大部分收入来自去年发布的游戏机等硬件的销售。一旦对新设备的需求随着时间的推移而减少，业务硬件方面的销售额也会下降。</blockquote></p><p> With Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.</p><p><blockquote>随着Ryan Cohen成为新任董事会主席，游戏驿站目前的目标是转向电子商务业务。然而，我们很难相信该公司有机会成为电子商务领域的视频游戏巨头。问题是游戏驿站在软件业务上没有任何定价权，因为微软（MSFT）、索尼（SNE）、育碧（OTCPK：UBSFY）、艺电（EA）等出版商已经领先于游戏驿站在线业务。他们中的大多数都有自己的第一方订阅服务，这使得游戏玩家直接使用这些服务并以大幅折扣玩游戏比从游戏驿站购买游戏更具吸引力。最重要的是，由于PlayStation Now和Xbox Cloud Gaming等服务的推出，云游戏逐年变得更加现实，这些服务让消费者无需首先拥有游戏即可玩游戏。随着该行业每年都在不断数字化，游戏驿站将继续失去市场份额，因为其零售店将继续消耗现金，而电子商务努力不太可能很快产生有意义的回报。</blockquote></p><p> Another downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.</p><p><blockquote>游戏驿站的另一个缺点是，管理层对游戏驿站将如何转型保持沉默，让投资者蒙在鼓里。在过去三次会议评级上，分析师没有提出任何问题，也没有发布任何指导意见。我们认为这是一个主要的危险信号，并认为这是游戏驿站投资缺乏吸引力的主要原因之一。</blockquote></p><p></p><p> The only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2&nbsp;stood&nbsp;at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.</p><p><blockquote>该公司唯一的积极之处在于它的资产负债表没有过度杠杆化，因为其第二季度末的流动性为17.2亿美元，而长期债务仅为4750万美元。然而，除此之外，我们没有看到游戏驿站的任何其他优势，并认为其势头将继续消退。可以肯定地说，挤压已经结束，因为该股的空头利息不到15%，而且目前水平不存在增长催化剂。最重要的是，该公司的年收入不太可能很快恢复到大流行前的水平。目前，该业务预计今年的年收入将继续低于60亿美元，因为其以零售为中心的商业模式正在慢慢消亡，而视频游戏行业每年仍以两位数的速度增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb72f458ec8ffd4315f63b7f456e4b13\" tg-width=\"875\" tg-height=\"375\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> In addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability&nbsp;metrics&nbsp;are below the sector median, while most of its margins are negative.</p><p><blockquote>此外，在游戏行业增长的过去三年中，游戏驿站的业务一直处于无利可图的状态，今年也很可能保持无利可图，因为该公司几乎所有的盈利指标都低于行业中位数，而大部分利润率都是负面的。</blockquote></p><p> Considering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current&nbsp;consensus&nbsp;price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.</p><p><blockquote>考虑到所有这些，我们发现很难证明以约150亿美元的市值购买游戏驿站股票是合理的，因为我们认为没有任何催化剂可以帮助该公司改善未来的业绩。此外，大多数华尔街分析师仍然看跌该股，因为游戏驿站股票目前的一致目标价为每股37.50美元，较当前市场价格下跌超过75%。因此，我们坚持认为势头正在消退，现阶段最好避免游戏驿站。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4455492-gamestop-with-short-interest-of-less-than-15-percent-dont-expect-another-squeeze\">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":{"GME":"游戏驿站"},"source_url":"https://seekingalpha.com/article/4455492-gamestop-with-short-interest-of-less-than-15-percent-dont-expect-another-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147063668","content_text":"Summary\n\nGameStop continues to be a struggling video gaming retailer with limited upside and no ability to create additional shareholder value anytime soon.\nWith short interest of less than 15%, investors shouldn’t expect to see another squeeze happening in the following months.\nWe stick to our opinion that it’s better to avoid GameStop, especially since its stock is extremely overvalued at the current price.\n\nJustin Sullivan/Getty Images News\nIt’s safe to say that GameStop’s (GME) squeeze has run its course and with a short interest of less than 15%, investors shouldn’t expect to see another squeeze happening anytime soon. In addition, as GameStop continues to struggle to improve its performance, while the gaming industry experiences double-digit growth, it’s unlikely that the retailer will be able to create additional shareholder value in the foreseeable future. Considering this, we stick to our opinion that it’s better to avoid GameStop, especially since it’s extremely overvalued at the current levels.\nNothing To Look At\nGameStop continues to be a struggling video gaming retailer at this stage. Its business failed to significantly improve during the greatest growth of the video gaming industry in a decade, and it’s unlikely going to improve anytime soon. While retail traders managed to squeeze short-sellers earlier this year, GameStop’s stock failed to gain any traction in recent months. We were right when we said that its momentum is fading away, as the stock is down nearly 7% from when our last article on the company was published in late June, while the S&P 500 is up over 5% for the same period. Going forward, we continue to believe that GameStop’s shares will depreciate even more in the foreseeable future.\nChart: Seeking Alpha\nJust last week GameStop released its Q2 earnings results. During the period, the company managed to generate only $1.18 billion in revenues, up 25.3% Y/Y, barely beating the estimates by $60 million. The problem is that a 25.3% Y/Y growth is terrible for a company such as GameStop since lots of its stores were shut down during the same period last year due to the pandemic and a minimal amount of revenue was generated. On top of that, the company’s non-GAAP EPS was -$0.76, below the estimates by $0.09, while its net loss stood at $61.6 million.\nThe biggest downside of GameStop is that it doesn’t have any unique positioning in the video gaming industry. The company acts as a middleman with no clear advantages to publishers or consumers, while at the same time its retail-focused business model is unable to adapt to the new reality where games can be easily and legally downloaded online. Another problem of GameStop is that at the end of Q2 most of its revenues come from the sale of hardware such as consoles, which were released last year. Once the demand for new devices decreases over time, the sales of the hardware side of the business will decline as well.\nWith Ryan Cohen as the new chairman of the board, the goal of GameStop right now is to pivot to the eCommerce business. However, we find it hard to believe that the company has a decent shot of becoming a video gaming behemoth in the eCommerce field. The problem is that GameStop doesn’t have any pricing power in the software business, as publishers such as Microsoft (MSFT), Sony (SNE), Ubisoft (OTCPK:UBSFY), Electronic Arts (EA), and others are already ahead of GameStop in online presence. Most of them have their own first-party subscription services that make it more attractive for gamers to use the services directly and play games at a significant discount rather than buy games from GameStop. On top of that, cloud gaming becomes more of a reality with each passing year thanks to the introduction of services such as PlayStation Now and Xbox Cloud Gaming, which let consumers play games without owning them in the first place. As the industry continues to digitize more and more every year, GameStop will continue to lose market share, as its retail stores will continue to drain the cash, while eCommerce efforts are unlikely going to generate meaningful returns anytime soon.\nAnother downside of GameStop is that the management has been quiet about how GameStop will transform itself, leaving investors in the dark. No questions from analysts were taken during the last three conference calls and no guidance was issued as well. We consider this to be a major red flag and believe this to be one of the main reasons why GameStop is an unattractive investment.\nThe only positive thing about the company is that it doesn’t have an overleveraged balance sheet, as its liquidity at the end of Q2 stood at $1.72 billion, while long-term debt was only $47.5 million. However, other than that, we don’t see any other upside of GameStop and believe that its momentum will continue to fade. It’s already safe to say that the squeeze has run its course, as the stock has a short interest of less than 15%, and there are no catalysts for growth at the current levels. On top of that, the company’s annual revenue is unlikely to return to pre-pandemic levels anytime soon. Currently, the business is expected to continue to generate less than $6 billion in annual revenues this year, as its retail-focused business model is slowly dying, while the video gaming industry continues to grow at a double-digit rate every year.\nSource: Seeking Alpha\nIn addition, GameStop’s business has been unprofitable in the last three years when the gaming industry was growing, and it’s likely going to remain unprofitable this year, as nearly all of the company’s profitability metrics are below the sector median, while most of its margins are negative.\nConsidering all of this, we find it hard to justify buying GameStop’s stock at a ~$15 billion market cap, as we see no catalysts that could’ve helped the business to improve its performance in the future. Also, most of the street analysts remain bearish on the stock, as the current consensus price target for GameStop’s shares is $37.50 per share, which represents more than 75% downside from the current market price. For that reason, we stick to our opinion that the momentum is fading away and it’s better to avoid GameStop at this stage.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814198030,"gmtCreate":1630788949920,"gmtModify":1631890471789,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"Sometimes up, sometimes down","listText":"Sometimes up, sometimes down","text":"Sometimes up, sometimes down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814198030","repostId":"1186003479","repostType":4,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813610151,"gmtCreate":1630196874973,"gmtModify":1704956834025,"author":{"id":"3570037604440960","authorId":"3570037604440960","name":"Pflanze","avatar":"https://static.tigerbbs.com/d1e55f7d9e1df6e15adabc7185268e2f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570037604440960","authorIdStr":"3570037604440960"},"themes":[],"htmlText":"👎","listText":"👎","text":"👎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813610151","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}