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2021-08-03

Pls like

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2021-08-01

Wow

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2021-07-31

Plz like

BofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</blockquote>

2021-07-31

Like pls

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2021-07-31

Sad

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2021-07-27

Buy buybuy

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2021-07-27

Wow

AMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</blockquote>

2021-07-22

Wow

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2021-03-16

Great ariticle, would you like to share it?

How to handle market declines<blockquote>如何应对市场下跌</blockquote>

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like","listText":"Plz like","text":"Plz like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806778895","repostId":"1125426477","repostType":4,"repost":{"id":"1125426477","kind":"news","pubTimestamp":1627688762,"share":"https://www.laohu8.com/m/news/1125426477?lang=zh_CN&edition=full","pubTime":"2021-07-31 07:46","market":"us","language":"en","title":"BofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125426477","media":"The Street","summary":"'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that th","content":"<p>  'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.  Bank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.</p><p><blockquote>美国银行说，在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。美国银行表示，利率处于5000年来的低点，并建议在今年剩余时间内持有优质防御性股票。</blockquote></p><p> The interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”</p><p><blockquote>利率计算来自美国银行自己的数据、英格兰银行、全球金融数据和2005年的《利率史》一书。</blockquote></p><p> “Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA&nbsp; Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”</p><p><blockquote>美国银行首席投资策略师Michael Hartnett写道：“各国央行正在将全球利率维持在5000年来的低点。”“在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。”</blockquote></p><p> The message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.</p><p><blockquote>他表示，本周FOMC会议传达的信息是“我们将让[经济]过热，[代表]通胀不会那么短暂”。</blockquote></p><p> “The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”</p><p><blockquote>“市场的反应将是（推动）美元下跌，美国国债收益率上升。大宗商品将保持出价，并将轮动到新兴市场股票和债券。”</blockquote></p><p> Hartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”</p><p><blockquote>Hartnett还认为，“在通胀导致增长和每股收益预期下降的推动下，人们对优质和防御性股票的偏好。美国消费者已经见顶。”</blockquote></p><p> As for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.</p><p><blockquote>至于美国银行的建议，它建议“在下半年持有防御性的优质股票……因为政策转变将以市场调整告终，”哈特尼特表示。</blockquote></p><p> BofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”</p><p><blockquote>美国银行青睐美国和欧盟等已接种疫苗市场的防御性股票。它喜欢具有“疫苗上涨空间的市场，即日本、中国和新兴市场”的周期性重新开放股票。</blockquote></p><p> U.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).</p><p><blockquote>由于投资者权衡对COVID-19德尔塔变异毒株蔓延的担忧以及在线零售巨头亚马逊(AMZN)令人失望的业绩，美国股市周五下跌。</blockquote></p><p></p>","source":"lsy1610613172068","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>BofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</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\">\nBofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-31 07:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.  Bank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.</p><p><blockquote>美国银行说，在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。美国银行表示，利率处于5000年来的低点，并建议在今年剩余时间内持有优质防御性股票。</blockquote></p><p> The interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”</p><p><blockquote>利率计算来自美国银行自己的数据、英格兰银行、全球金融数据和2005年的《利率史》一书。</blockquote></p><p> “Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA&nbsp; Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”</p><p><blockquote>美国银行首席投资策略师Michael Hartnett写道：“各国央行正在将全球利率维持在5000年来的低点。”“在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。”</blockquote></p><p> The message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.</p><p><blockquote>他表示，本周FOMC会议传达的信息是“我们将让[经济]过热，[代表]通胀不会那么短暂”。</blockquote></p><p> “The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”</p><p><blockquote>“市场的反应将是（推动）美元下跌，美国国债收益率上升。大宗商品将保持出价，并将轮动到新兴市场股票和债券。”</blockquote></p><p> Hartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”</p><p><blockquote>Hartnett还认为，“在通胀导致增长和每股收益预期下降的推动下，人们对优质和防御性股票的偏好。美国消费者已经见顶。”</blockquote></p><p> As for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.</p><p><blockquote>至于美国银行的建议，它建议“在下半年持有防御性的优质股票……因为政策转变将以市场调整告终，”哈特尼特表示。</blockquote></p><p> BofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”</p><p><blockquote>美国银行青睐美国和欧盟等已接种疫苗市场的防御性股票。它喜欢具有“疫苗上涨空间的市场，即日本、中国和新兴市场”的周期性重新开放股票。</blockquote></p><p> U.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).</p><p><blockquote>由于投资者权衡对COVID-19德尔塔变异毒株蔓延的担忧以及在线零售巨头亚马逊(AMZN)令人失望的业绩，美国股市周五下跌。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/b-of-a-interest-rates-5000-year-\">The Street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.thestreet.com/investing/b-of-a-interest-rates-5000-year-","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125426477","content_text":"'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.\n\nBank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.\nThe interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”\n“Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA  Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”\nThe message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.\n“The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”\nHartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”\nAs for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.\nBofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”\nU.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1091,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806748925,"gmtCreate":1627696490367,"gmtModify":1633757051350,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806748925","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":917,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806741587,"gmtCreate":1627696472649,"gmtModify":1633757051835,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806741587","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809834745,"gmtCreate":1627356992687,"gmtModify":1633765758546,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Buy buybuy","listText":"Buy buybuy","text":"Buy buybuy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809834745","repostId":"2154998662","repostType":4,"isVote":1,"tweetType":1,"viewCount":873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809835159,"gmtCreate":1627356886671,"gmtModify":1633765759611,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/809835159","repostId":"1190848120","repostType":4,"repost":{"id":"1190848120","kind":"news","pubTimestamp":1627356244,"share":"https://www.laohu8.com/m/news/1190848120?lang=zh_CN&edition=full","pubTime":"2021-07-27 11:24","market":"us","language":"en","title":"AMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190848120","media":"Barrons","summary":"When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors","content":"<p>When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.</p><p><blockquote>当芯片设计公司Advanced Micro Devices周二收盘后公布财报时，投资者预计每股利润将增长266%，收入将几乎翻一番。</blockquote></p><p> Amid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.</p><p><blockquote>在芯片短缺导致全球经济瘫痪的情况下，投资者对半导体业务抱有很高的期望。</blockquote></p><p> For AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).</p><p><blockquote>对于AMD（股票代码：AMD）来说，该公司能否超出高预期可能取决于其来自数据中心芯片的收入。在竞争对手英特尔(INTC)推迟推出新型先进服务器芯片后，数据中心市场对AMD来说充满了机会。</blockquote></p><p> Jefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.</p><p><blockquote>Jefferies分析师Mark Lipacis写道，根据其团队的行业检查，AMD的Milan服务器芯片将在今年下半年从英特尔手中夺走大量市场份额。</blockquote></p><p> AMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.</p><p><blockquote>AMD高管一直发布看涨指引。4月份，该公司预测第二季度收入将增长86%，达到约36亿美元。分析师目前预计第二季度调整后每股利润为54美分，营收为36亿美元。</blockquote></p><p> Wall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).</p><p><blockquote>华尔街预计AMD将实现22亿美元的计算机和图形部门收入，14亿美元的企业、嵌入式和半定制收入。该公司的半定制业务包括为微软(MSFT)和Sony(SNE)销售的新型视频游戏机设计的芯片。</blockquote></p><p> AMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.</p><p><blockquote>AMD此前曾表示，预计2021年全年营收将较去年增长约50%。</blockquote></p><p> AMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.</p><p><blockquote>AMD的增长潜力可能会受到难以获得芯片制造所需材料和组件以及难以从包括台积电(TSM)在内的合同制造商获得额外产能的限制。BMO资本市场分析师Ambrish Srivastava写道，数据中心的需求可能会因零部件短缺和制造芯片所需的一些材料而受到损害。</blockquote></p><p> Because AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.</p><p><blockquote>由于AMD股价的市盈率很高——未来12个月盈利预期的42倍——Srivastava表示，该公司需要超出华尔街预期一个“有意义”的金额，并再次上调全年指引以推动股价走高。</blockquote></p><p> AMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.</p><p><blockquote>AMD公布的过去四个季度的每股利润好于预期。过去两年，该公司仅有一次未达到收入预期。</blockquote></p><p> Outsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.</p><p><blockquote>高管们的过高预期和看涨预测最近并没有对AMD的股价产生多大帮助。AMD股价在2020年飙升后，今年持平，而PHLX半导体指数上涨17%。</blockquote></p><p> Among Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.</p><p><blockquote>在研究AMD的华尔街分析师中，25人将该股评级为买入，15人评级为持有，3人评级为卖出。平均目标价为102.35美元，较近期收盘价91.82美元上涨11%。</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>AMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</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\">\nAMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-27 11:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.</p><p><blockquote>当芯片设计公司Advanced Micro Devices周二收盘后公布财报时，投资者预计每股利润将增长266%，收入将几乎翻一番。</blockquote></p><p> Amid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.</p><p><blockquote>在芯片短缺导致全球经济瘫痪的情况下，投资者对半导体业务抱有很高的期望。</blockquote></p><p> For AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).</p><p><blockquote>对于AMD（股票代码：AMD）来说，该公司能否超出高预期可能取决于其来自数据中心芯片的收入。在竞争对手英特尔(INTC)推迟推出新型先进服务器芯片后，数据中心市场对AMD来说充满了机会。</blockquote></p><p> Jefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.</p><p><blockquote>Jefferies分析师Mark Lipacis写道，根据其团队的行业检查，AMD的Milan服务器芯片将在今年下半年从英特尔手中夺走大量市场份额。</blockquote></p><p> AMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.</p><p><blockquote>AMD高管一直发布看涨指引。4月份，该公司预测第二季度收入将增长86%，达到约36亿美元。分析师目前预计第二季度调整后每股利润为54美分，营收为36亿美元。</blockquote></p><p> Wall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).</p><p><blockquote>华尔街预计AMD将实现22亿美元的计算机和图形部门收入，14亿美元的企业、嵌入式和半定制收入。该公司的半定制业务包括为微软(MSFT)和Sony(SNE)销售的新型视频游戏机设计的芯片。</blockquote></p><p> AMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.</p><p><blockquote>AMD此前曾表示，预计2021年全年营收将较去年增长约50%。</blockquote></p><p> AMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.</p><p><blockquote>AMD的增长潜力可能会受到难以获得芯片制造所需材料和组件以及难以从包括台积电(TSM)在内的合同制造商获得额外产能的限制。BMO资本市场分析师Ambrish Srivastava写道，数据中心的需求可能会因零部件短缺和制造芯片所需的一些材料而受到损害。</blockquote></p><p> Because AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.</p><p><blockquote>由于AMD股价的市盈率很高——未来12个月盈利预期的42倍——Srivastava表示，该公司需要超出华尔街预期一个“有意义”的金额，并再次上调全年指引以推动股价走高。</blockquote></p><p> AMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.</p><p><blockquote>AMD公布的过去四个季度的每股利润好于预期。过去两年，该公司仅有一次未达到收入预期。</blockquote></p><p> Outsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.</p><p><blockquote>高管们的过高预期和看涨预测最近并没有对AMD的股价产生多大帮助。AMD股价在2020年飙升后，今年持平，而PHLX半导体指数上涨17%。</blockquote></p><p> Among Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.</p><p><blockquote>在研究AMD的华尔街分析师中，25人将该股评级为买入，15人评级为持有，3人评级为卖出。平均目标价为102.35美元，较近期收盘价91.82美元上涨11%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amd-reports-earnings-tuesday-its-all-about-the-data-center-51627339031?mod=hp_DAY_3\">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":{"AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/amd-reports-earnings-tuesday-its-all-about-the-data-center-51627339031?mod=hp_DAY_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190848120","content_text":"When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.\nAmid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.\nFor AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).\nJefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.\nAMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.\nWall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).\nAMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.\nAMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.\nBecause AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.\nAMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.\nOutsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.\nAmong Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172923424,"gmtCreate":1626928666668,"gmtModify":1633769630673,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172923424","repostId":"1196827638","repostType":2,"isVote":1,"tweetType":1,"viewCount":862,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325344180,"gmtCreate":1615869174940,"gmtModify":1703494240593,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571134202283228","idStr":"3571134202283228"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325344180","repostId":"1132314005","repostType":4,"repost":{"id":"1132314005","kind":"news","pubTimestamp":1615211001,"share":"https://www.laohu8.com/m/news/1132314005?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:43","market":"us","language":"en","title":"How to handle market declines<blockquote>如何应对市场下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132314005","media":"Capital Group","summary":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demo","content":"<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>","source":"lsy1615210994562","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>How to handle market declines<blockquote>如何应对市场下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow to handle market declines<blockquote>如何应对市场下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Capital Group</strong><span class=\"h-time small\">2021-03-08 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html\">Capital Group</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132314005","content_text":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.\nBut smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.\n1. Market declines are part of investing\nStocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.\n\nThe Standard & Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.\n2. Time in the market matters, not market timing\nNo one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.\nEvery S&P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.\nEven missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.\n\n3. Emotional investing can be hazardous\nKahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.\nEmotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.\n\nOne way to encourage rational investment decision-making is to understand the fundamentals of behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.\n4. Make a plan and stick to it\nCreating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.\nOne way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.\n\nRetirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.\n5. Diversification matters\nA diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.\nFor investors who want to avoid some of the stress of downturns, diversification can help lower volatility.\n\n6. Fixed income can help bring balance\nStocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.\n\nWhat’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.\nThough bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.\n7. The market tends to reward long-term investors\nIs it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.\nIt’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.\n\nIt’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":804524956,"gmtCreate":1627966279975,"gmtModify":1633754784996,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/804524956","repostId":"2156113212","repostType":4,"isVote":1,"tweetType":1,"viewCount":1041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809835159,"gmtCreate":1627356886671,"gmtModify":1633765759611,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/809835159","repostId":"1190848120","repostType":4,"repost":{"id":"1190848120","kind":"news","pubTimestamp":1627356244,"share":"https://www.laohu8.com/m/news/1190848120?lang=zh_CN&edition=full","pubTime":"2021-07-27 11:24","market":"us","language":"en","title":"AMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190848120","media":"Barrons","summary":"When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors","content":"<p>When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.</p><p><blockquote>当芯片设计公司Advanced Micro Devices周二收盘后公布财报时，投资者预计每股利润将增长266%，收入将几乎翻一番。</blockquote></p><p> Amid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.</p><p><blockquote>在芯片短缺导致全球经济瘫痪的情况下，投资者对半导体业务抱有很高的期望。</blockquote></p><p> For AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).</p><p><blockquote>对于AMD（股票代码：AMD）来说，该公司能否超出高预期可能取决于其来自数据中心芯片的收入。在竞争对手英特尔(INTC)推迟推出新型先进服务器芯片后，数据中心市场对AMD来说充满了机会。</blockquote></p><p> Jefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.</p><p><blockquote>Jefferies分析师Mark Lipacis写道，根据其团队的行业检查，AMD的Milan服务器芯片将在今年下半年从英特尔手中夺走大量市场份额。</blockquote></p><p> AMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.</p><p><blockquote>AMD高管一直发布看涨指引。4月份，该公司预测第二季度收入将增长86%，达到约36亿美元。分析师目前预计第二季度调整后每股利润为54美分，营收为36亿美元。</blockquote></p><p> Wall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).</p><p><blockquote>华尔街预计AMD将实现22亿美元的计算机和图形部门收入，14亿美元的企业、嵌入式和半定制收入。该公司的半定制业务包括为微软(MSFT)和Sony(SNE)销售的新型视频游戏机设计的芯片。</blockquote></p><p> AMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.</p><p><blockquote>AMD此前曾表示，预计2021年全年营收将较去年增长约50%。</blockquote></p><p> AMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.</p><p><blockquote>AMD的增长潜力可能会受到难以获得芯片制造所需材料和组件以及难以从包括台积电(TSM)在内的合同制造商获得额外产能的限制。BMO资本市场分析师Ambrish Srivastava写道，数据中心的需求可能会因零部件短缺和制造芯片所需的一些材料而受到损害。</blockquote></p><p> Because AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.</p><p><blockquote>由于AMD股价的市盈率很高——未来12个月盈利预期的42倍——Srivastava表示，该公司需要超出华尔街预期一个“有意义”的金额，并再次上调全年指引以推动股价走高。</blockquote></p><p> AMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.</p><p><blockquote>AMD公布的过去四个季度的每股利润好于预期。过去两年，该公司仅有一次未达到收入预期。</blockquote></p><p> Outsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.</p><p><blockquote>高管们的过高预期和看涨预测最近并没有对AMD的股价产生多大帮助。AMD股价在2020年飙升后，今年持平，而PHLX半导体指数上涨17%。</blockquote></p><p> Among Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.</p><p><blockquote>在研究AMD的华尔街分析师中，25人将该股评级为买入，15人评级为持有，3人评级为卖出。平均目标价为102.35美元，较近期收盘价91.82美元上涨11%。</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>AMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</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\">\nAMD Reports Earnings Tuesday. It’s All About the Data Center.<blockquote>AMD周二公布财报。这一切都与数据中心有关。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-27 11:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.</p><p><blockquote>当芯片设计公司Advanced Micro Devices周二收盘后公布财报时，投资者预计每股利润将增长266%，收入将几乎翻一番。</blockquote></p><p> Amid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.</p><p><blockquote>在芯片短缺导致全球经济瘫痪的情况下，投资者对半导体业务抱有很高的期望。</blockquote></p><p> For AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).</p><p><blockquote>对于AMD（股票代码：AMD）来说，该公司能否超出高预期可能取决于其来自数据中心芯片的收入。在竞争对手英特尔(INTC)推迟推出新型先进服务器芯片后，数据中心市场对AMD来说充满了机会。</blockquote></p><p> Jefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.</p><p><blockquote>Jefferies分析师Mark Lipacis写道，根据其团队的行业检查，AMD的Milan服务器芯片将在今年下半年从英特尔手中夺走大量市场份额。</blockquote></p><p> AMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.</p><p><blockquote>AMD高管一直发布看涨指引。4月份，该公司预测第二季度收入将增长86%，达到约36亿美元。分析师目前预计第二季度调整后每股利润为54美分，营收为36亿美元。</blockquote></p><p> Wall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).</p><p><blockquote>华尔街预计AMD将实现22亿美元的计算机和图形部门收入，14亿美元的企业、嵌入式和半定制收入。该公司的半定制业务包括为微软(MSFT)和Sony(SNE)销售的新型视频游戏机设计的芯片。</blockquote></p><p> AMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.</p><p><blockquote>AMD此前曾表示，预计2021年全年营收将较去年增长约50%。</blockquote></p><p> AMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.</p><p><blockquote>AMD的增长潜力可能会受到难以获得芯片制造所需材料和组件以及难以从包括台积电(TSM)在内的合同制造商获得额外产能的限制。BMO资本市场分析师Ambrish Srivastava写道，数据中心的需求可能会因零部件短缺和制造芯片所需的一些材料而受到损害。</blockquote></p><p> Because AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.</p><p><blockquote>由于AMD股价的市盈率很高——未来12个月盈利预期的42倍——Srivastava表示，该公司需要超出华尔街预期一个“有意义”的金额，并再次上调全年指引以推动股价走高。</blockquote></p><p> AMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.</p><p><blockquote>AMD公布的过去四个季度的每股利润好于预期。过去两年，该公司仅有一次未达到收入预期。</blockquote></p><p> Outsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.</p><p><blockquote>高管们的过高预期和看涨预测最近并没有对AMD的股价产生多大帮助。AMD股价在2020年飙升后，今年持平，而PHLX半导体指数上涨17%。</blockquote></p><p> Among Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.</p><p><blockquote>在研究AMD的华尔街分析师中，25人将该股评级为买入，15人评级为持有，3人评级为卖出。平均目标价为102.35美元，较近期收盘价91.82美元上涨11%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amd-reports-earnings-tuesday-its-all-about-the-data-center-51627339031?mod=hp_DAY_3\">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":{"AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/amd-reports-earnings-tuesday-its-all-about-the-data-center-51627339031?mod=hp_DAY_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190848120","content_text":"When chip designer Advanced Micro Devices reports earnings Tuesday after the closing bell, investors are expecting a 266% increase in per-share profit and a near doubling in revenue.\nAmid chip shortages crippling the global economy, investors have lofty expectations for semiconductor businesses.\nFor AMD (ticker: AMD), the company’s ability to top high expectations may come down to its revenue from data center chips. That data-center market is rich with opportunity for AMD, after the launch delay of a new advanced server chip from rival Intel (INTC).\nJefferies analyst Mark Lipacis wrote that, according to his team’s industry checks, AMD’s Milan server chips are set to take a significant amount of market share from Intel in the second half of the year.\nAMD executives have issued consistently bullish guidance. In April, the company forecast that revenue would be up 86% in the second-quarter, to approximately $3.6 billion. Analysts currently expect second-quarter adjusted profit of 54 cents a share on revenue of $3.6 billion.\nWall Street expects AMD to deliver computer and graphics segment revenue of $2.2 billion and enterprise, embedded, and semi-custom revenue of $1.4 billion. The company’s semi-custom business includes chips designed for new videogame consoles sold by Microsoft (MSFT) and Sony (SNE).\nAMD has previously said it expects full-year 2021 revenue to grow about 50% from last year.\nAMD’s growth potential could be limited by difficulties in obtaining materials and components necessary for chip making, as well as securing additional capacity from its contract manufacturers, including Taiwan Semiconductor Manufacturing (TSM). BMO Capital Markets analyst Ambrish Srivastava wrote that data center demand could be hurt by component shortages and some of the materials necessary to manufacture chips.\nBecause AMD shares trade at a high multiple—42 times earnings estimates for the next 12 months—Srivastava said that the company would need to top Wall Street expectations by a “meaningful” amount and again raise its full-year guidance to move the stock higher.\nAMD has reported better-than-expected per-share profit for the past four quarters. It has missed revenue estimates only once in the past two years.\nOutsize expectations and bullish forecasts from executives haven’t done much to help AMD’s stock recently. After soaring in 2020, AMD shares are flat this year, while the PHLX Semiconductor index is up 17%.\nAmong Wall Street analysts covering AMD, 25 rate the stock at Buy, 15 at Hold, and three at Sell. The average target price is $102.35, 11% above a recent close of $91.82.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802565983,"gmtCreate":1627789205542,"gmtModify":1633756366038,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802565983","repostId":"1159296868","repostType":4,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806748925,"gmtCreate":1627696490367,"gmtModify":1633757051350,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806748925","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":917,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806778895,"gmtCreate":1627696906117,"gmtModify":1633757041317,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Plz like","listText":"Plz like","text":"Plz like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806778895","repostId":"1125426477","repostType":4,"repost":{"id":"1125426477","kind":"news","pubTimestamp":1627688762,"share":"https://www.laohu8.com/m/news/1125426477?lang=zh_CN&edition=full","pubTime":"2021-07-31 07:46","market":"us","language":"en","title":"BofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125426477","media":"The Street","summary":"'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that th","content":"<p>  'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.  Bank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.</p><p><blockquote>美国银行说，在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。美国银行表示，利率处于5000年来的低点，并建议在今年剩余时间内持有优质防御性股票。</blockquote></p><p> The interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”</p><p><blockquote>利率计算来自美国银行自己的数据、英格兰银行、全球金融数据和2005年的《利率史》一书。</blockquote></p><p> “Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA&nbsp; Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”</p><p><blockquote>美国银行首席投资策略师Michael Hartnett写道：“各国央行正在将全球利率维持在5000年来的低点。”“在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。”</blockquote></p><p> The message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.</p><p><blockquote>他表示，本周FOMC会议传达的信息是“我们将让[经济]过热，[代表]通胀不会那么短暂”。</blockquote></p><p> “The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”</p><p><blockquote>“市场的反应将是（推动）美元下跌，美国国债收益率上升。大宗商品将保持出价，并将轮动到新兴市场股票和债券。”</blockquote></p><p> Hartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”</p><p><blockquote>Hartnett还认为，“在通胀导致增长和每股收益预期下降的推动下，人们对优质和防御性股票的偏好。美国消费者已经见顶。”</blockquote></p><p> As for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.</p><p><blockquote>至于美国银行的建议，它建议“在下半年持有防御性的优质股票……因为政策转变将以市场调整告终，”哈特尼特表示。</blockquote></p><p> BofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”</p><p><blockquote>美国银行青睐美国和欧盟等已接种疫苗市场的防御性股票。它喜欢具有“疫苗上涨空间的市场，即日本、中国和新兴市场”的周期性重新开放股票。</blockquote></p><p> U.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).</p><p><blockquote>由于投资者权衡对COVID-19德尔塔变异毒株蔓延的担忧以及在线零售巨头亚马逊(AMZN)令人失望的业绩，美国股市周五下跌。</blockquote></p><p></p>","source":"lsy1610613172068","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>BofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</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\">\nBofA Says Interest Rates Are at 5,000-Year Low<blockquote>美国银行称利率处于5000年来的低点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-31 07:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.  Bank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.</p><p><blockquote>美国银行说，在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。美国银行表示，利率处于5000年来的低点，并建议在今年剩余时间内持有优质防御性股票。</blockquote></p><p> The interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”</p><p><blockquote>利率计算来自美国银行自己的数据、英格兰银行、全球金融数据和2005年的《利率史》一书。</blockquote></p><p> “Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA&nbsp; Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”</p><p><blockquote>美国银行首席投资策略师Michael Hartnett写道：“各国央行正在将全球利率维持在5000年来的低点。”“在未来5000年的某个时候，利率将会上升，但华尔街并不担心这种情况会很快发生。”</blockquote></p><p> The message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.</p><p><blockquote>他表示，本周FOMC会议传达的信息是“我们将让[经济]过热，[代表]通胀不会那么短暂”。</blockquote></p><p> “The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”</p><p><blockquote>“市场的反应将是（推动）美元下跌，美国国债收益率上升。大宗商品将保持出价，并将轮动到新兴市场股票和债券。”</blockquote></p><p> Hartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”</p><p><blockquote>Hartnett还认为，“在通胀导致增长和每股收益预期下降的推动下，人们对优质和防御性股票的偏好。美国消费者已经见顶。”</blockquote></p><p> As for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.</p><p><blockquote>至于美国银行的建议，它建议“在下半年持有防御性的优质股票……因为政策转变将以市场调整告终，”哈特尼特表示。</blockquote></p><p> BofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”</p><p><blockquote>美国银行青睐美国和欧盟等已接种疫苗市场的防御性股票。它喜欢具有“疫苗上涨空间的市场，即日本、中国和新兴市场”的周期性重新开放股票。</blockquote></p><p> U.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).</p><p><blockquote>由于投资者权衡对COVID-19德尔塔变异毒株蔓延的担忧以及在线零售巨头亚马逊(AMZN)令人失望的业绩，美国股市周五下跌。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/b-of-a-interest-rates-5000-year-\">The Street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.thestreet.com/investing/b-of-a-interest-rates-5000-year-","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125426477","content_text":"'At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon,' BofA says.\n\nBank of America says interest rates are at a 5,000-year low and recommends holding quality, defensive stocks for the rest of the year.\nThe interest-rate calculation comes from BofA’s own data, the Bank of England, Global Financial Data and the 2005 book “A History of Interest Rates.”\n“Central banks are keeping global interest rates at 5,000 year lows,” wrote BofA  Chief Investment Strategist Michael Hartnett. “At some point in the next 5,000 years, rates will rise, but there is no fear on Wall Street that this happens anytime soon.”\nThe message of this week’s FOMC meeting was \"we will let it [the economy] run hot, [represents an] ok for inflation to be not-so-transitory,” he said.\n“The market reaction will be [to push] the U.S. dollar down and U.S. Treasury yields up. Commodities will remain bid, and there will be a rotation to emerging market stocks and bonds.”\nHartnett also sees a “preference for quality and defensive stocks, driven by inflation causing growth and EPS estimates to fall. The U.S. consumer has peaked.”\nAs for BofA’s advice, it recommends owning “defensive, quality stocks in the second half, … as policy flip-flops will end in a market correction,” Hartnett says.\nBofA favors defensive stocks in vaccinated markets, such as the U.S. and European Union. And it likes cyclical reopening stocks in markets with “vaccine-upside, i.e. Japan, China and emerging markets.”\nU.S. stocks are falling Friday, as investors weigh concerns about the spread of the COVID-19 Delta variant and disappointing results from online retail giant Amazon (AMZN).","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1091,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806741587,"gmtCreate":1627696472649,"gmtModify":1633757051835,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806741587","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809834745,"gmtCreate":1627356992687,"gmtModify":1633765758546,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Buy buybuy","listText":"Buy buybuy","text":"Buy buybuy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809834745","repostId":"2154998662","repostType":4,"isVote":1,"tweetType":1,"viewCount":873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172923424,"gmtCreate":1626928666668,"gmtModify":1633769630673,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172923424","repostId":"1196827638","repostType":2,"isVote":1,"tweetType":1,"viewCount":862,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325344180,"gmtCreate":1615869174940,"gmtModify":1703494240593,"author":{"id":"3571134202283228","authorId":"3571134202283228","name":"Guoshen","avatar":"https://static.tigerbbs.com/eddf24b4cd197e6288b45481a6aa1e39","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571134202283228","authorIdStr":"3571134202283228"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325344180","repostId":"1132314005","repostType":4,"repost":{"id":"1132314005","kind":"news","pubTimestamp":1615211001,"share":"https://www.laohu8.com/m/news/1132314005?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:43","market":"us","language":"en","title":"How to handle market declines<blockquote>如何应对市场下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132314005","media":"Capital Group","summary":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demo","content":"<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>","source":"lsy1615210994562","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>How to handle market declines<blockquote>如何应对市场下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow to handle market declines<blockquote>如何应对市场下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Capital Group</strong><span class=\"h-time small\">2021-03-08 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html\">Capital Group</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132314005","content_text":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.\nBut smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.\n1. Market declines are part of investing\nStocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.\n\nThe Standard & Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.\n2. Time in the market matters, not market timing\nNo one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.\nEvery S&P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.\nEven missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.\n\n3. Emotional investing can be hazardous\nKahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.\nEmotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.\n\nOne way to encourage rational investment decision-making is to understand the fundamentals of behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.\n4. Make a plan and stick to it\nCreating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.\nOne way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.\n\nRetirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.\n5. Diversification matters\nA diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.\nFor investors who want to avoid some of the stress of downturns, diversification can help lower volatility.\n\n6. Fixed income can help bring balance\nStocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.\n\nWhat’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.\nThough bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.\n7. The market tends to reward long-term investors\nIs it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.\nIt’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.\n\nIt’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}