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KryZ

KryZ

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2021-12-27

Interesting.

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2021-12-21

Hurrah! Tide changing?

China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote>

2021-12-20

Here we go again....

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2021-12-20

Seeking Alpha? No thanks!

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2021-10-14

Motley Fool again. No thanks!

4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>

2021-10-14

Already priced in?

The Taper Is Coming, Fed Minutes Show. The Stock Market Isn’t Worried.<blockquote>美联储会议纪要显示，缩减规模即将到来。股市并不担心。</blockquote>

2021-10-04

Shorts deserve all the pain!

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2021-10-04

Start shopping for cheapies soon!

Dow sheds 300 points as investors ditch technology stocks, Nasdaq drops 2%<blockquote>投资者抛弃科技股道指下跌300点纳斯达克下跌2%</blockquote>

2021-08-20

Motley Fool? No Thanks!

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2021-07-29

China playing Poker!

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2021-07-27

SOFI 🎁

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2021-07-26

About time SEC!

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2021-07-26

Pls kindly like. Thank you.

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2021-07-23

Tech stocks ! 🥳

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2021-07-22

Biotech stocks = high risk high reward!

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2021-07-10

Hurrah!

Apple shares surges 1.4%,climbing to a new record high.<blockquote>苹果股价飙升1.4%，攀升至历史新高。</blockquote>

2021-07-08

Short term pain!

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2021-07-08

Here we go...

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2021-06-30

Biotechs are risky plays but can hit jackpot if lucky!

These 2 Nasdaq Biotechs Made Eye-Popping Moves Tuesday<blockquote>这两家纳斯达克生物技术公司周二做出了令人瞠目结舌的举动</blockquote>

2021-06-27

Good picks. I like AMZN, MA & BAC//@Jamessss: Like and comment

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Tide changing?","listText":"Hurrah! Tide changing?","text":"Hurrah! Tide changing?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/691083070","repostId":"1147636862","repostType":2,"repost":{"id":"1147636862","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640097349,"share":"https://www.laohu8.com/m/news/1147636862?lang=zh_CN&edition=full","pubTime":"2021-12-21 22:35","market":"us","language":"en","title":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147636862","media":"Tiger Newspress","summary":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising betwee","content":"<p>China stocks listed in US&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;BILI,&nbsp;XPeng,&nbsp;NetEase&nbsp;and&nbsp;iQiyi&nbsp;rising&nbsp;between&nbsp;6%&nbsp;and&nbsp;9%.</p><p><blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/446e89d87476774c958537e259ba18c3\" tg-width=\"968\" tg-height=\"711\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nChina stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-21 22:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>China stocks listed in US&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;BILI,&nbsp;XPeng,&nbsp;NetEase&nbsp;and&nbsp;iQiyi&nbsp;rising&nbsp;between&nbsp;6%&nbsp;and&nbsp;9%.</p><p><blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/446e89d87476774c958537e259ba18c3\" tg-width=\"968\" tg-height=\"711\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BILI":"哔哩哔哩","XPEV":"小鹏汽车","NTES":"网易","IQ":"爱奇艺"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147636862","content_text":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.","news_type":1,"symbols_score_info":{"NTES":0.9,"IQ":0.9,"BILI":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693882717,"gmtCreate":1640001348466,"gmtModify":1640001683819,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Here we go again....","listText":"Here we go again....","text":"Here we go again....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693882717","repostId":"1109845349","repostType":4,"isVote":1,"tweetType":1,"viewCount":2273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693882891,"gmtCreate":1640001271769,"gmtModify":1640001679307,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Seeking Alpha? No thanks!","listText":"Seeking Alpha? No thanks!","text":"Seeking Alpha? No thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693882891","repostId":"1160299527","repostType":2,"isVote":1,"tweetType":1,"viewCount":3234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825192388,"gmtCreate":1634207490009,"gmtModify":1634207610625,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Motley Fool again. No thanks!&nbsp;","listText":"Motley Fool again. No thanks!&nbsp;","text":"Motley Fool again. No thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825192388","repostId":"1184483169","repostType":4,"repost":{"id":"1184483169","kind":"news","pubTimestamp":1634205641,"share":"https://www.laohu8.com/m/news/1184483169?lang=zh_CN&edition=full","pubTime":"2021-10-14 18:00","market":"us","language":"en","title":"4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184483169","media":"Motley Fool","summary":"Crashes and corrections are the perfect opportunity to buy great companies at a discount.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</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\">\n4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-14 18:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd","VTRS":"Viatris Inc.","TCNNF":"Trulieve Cannabis Corporation","BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184483169","content_text":"Key Points\n\nDouble-digit percentage declines in the broader market are more common than investors realize.\nThere are no shortage of catalysts that could cause a stock market crash or correction.\nBuying this quartet of unstoppable companies during a broad-market decline would be a wise move.\n\n\nSome investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.\nRecently, the benchmark S&P 500 underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.\nIMAGE SOURCE: GETTY IMAGES.\nThere are a laundry list of catalysts that could send the market lower\nFor instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.\nTo build on this point, the broader market has responded very similarly following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.\nMacroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.\nThere's also margin debt, which has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.\nEven valuations are a concern. The S&P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.\nIMAGE SOURCE: GETTY IMAGES.\nCrashes and corrections are an opportunity to buy great stocks at a discount\nBut there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.\nIf a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.\nBerkshire Hathaway\nOne of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).\nBerkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.\nThe other catalyst working in the company's favor is its dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.\nIMAGE SOURCE: GETTY IMAGES.\nTrulieve Cannabis\nIf growth stocks are more your thing,marijuana stockTrulieve Cannabis(OTC:TCNNF) has the look of an unstoppable buy if a crash or correction strikes.\nFirst of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.\nMore specific to Trulieve, it's really differentiated itself from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.\nSaturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.\nWhat's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health & Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.\nIMAGE SOURCE: GETTY IMAGES.\nViatris\nWant deep-discount value and a market-topping dividend yield? Drug-companyViatris(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.\nViatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.\nAs you might imagine, combining two drug juggernauts should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.\nThe real beauty of Viatris is the consistency of demand for its products. Since healthcare stocks are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.\nWith a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.\nIMAGE SOURCE: GETTY IMAGES.\nSea Limited\nA fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based Sea Limited(NYSE:SE). Sea has three exceptionally fast-growing operating segments that could one day push its valuation to $1 trillion.\nFirst, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).\nSecond, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and $15 billion in gross merchandise value (GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.\nLastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.","news_type":1,"symbols_score_info":{"SE":0.9,"TCNNF":0.9,"VTRS":0.9,"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":3434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825198712,"gmtCreate":1634207354762,"gmtModify":1634207354969,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Already priced in?","listText":"Already priced in?","text":"Already priced in?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825198712","repostId":"1191878905","repostType":4,"repost":{"id":"1191878905","kind":"news","pubTimestamp":1634205088,"share":"https://www.laohu8.com/m/news/1191878905?lang=zh_CN&edition=full","pubTime":"2021-10-14 17:51","market":"us","language":"en","title":"The Taper Is Coming, Fed Minutes Show. The Stock Market Isn’t Worried.<blockquote>美联储会议纪要显示，缩减规模即将到来。股市并不担心。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191878905","media":"Barrons","summary":"The stock market sold off into the end of the day for no reason on Monday and Tuesday. On Wednesday,","content":"<p> The stock market sold off into the end of the day for no reason on Monday and Tuesday. On Wednesday, it seems to be holding up, even after September’s Federal Reserve minutes gave it a reason to drop if it were so inclined.</p><p><blockquote>周一和周二股市无缘无故抛售至收盘。周三，即使在9月份的美联储会议纪要给了它一个下跌的理由（如果它愿意的话）之后，它似乎仍在坚持。</blockquote></p><p> The minutes were expected to be a nonevent. Fed Chair Jerome Powell had already said that the central bank was likely to announce the reduction of its bond buying at its November meeting. The consensus jelled around the idea that the actual taper would begin in December and finished by the middle of 2022.</p><p><blockquote>会议记录预计不会发生任何事件。美联储主席杰罗姆·鲍威尔已经表示，美联储可能会在11月的会议上宣布减少债券购买。人们一致认为，实际的缩减规模将于12月开始，并于2022年中期完成。</blockquote></p><p> The minutes suggest a slightly quicker timeline. The minutes imply that the taper could begin as early as mid-November, perhaps slightly earlier than the market had been expected. There wasn’t much of a reaction, however. Bond yields remained lower on the day, while the&nbsp;S&amp;P 500&nbsp;fell from its high and the&nbsp;Dow Jones Industrial Average&nbsp;slipped into the red. The damage, for now, is quite minimal-with the Dow off just 0.1% and the S&amp;P 500 up 0.2%.</p><p><blockquote>会议记录显示时间表略快。会议纪要暗示，缩减规模最早可能在11月中旬开始，可能略早于市场预期。然而，没有太大的反应。当天债券收益率仍然走低，而标准普尔500指数从高点下跌，道琼斯工业平均指数陷入亏损。就目前而言，损失相当小——道琼斯指数仅下跌0.1%，标普500指数上涨0.2%。</blockquote></p><p> That’s likely because even a slightly faster pace might not change the big picture all that much. “In our view, the bar to get moving on asset purchase tapering is very low for the Fed, and in terms of the likely composition of tapering, there appears to be considerable agreement,” writes Bob Miller, head of Americas fundamental fixed income at BlackRock. “Indeed, we already had the impression in July that the reduction in Treasury securities and MBS would occur at the same time, and assuming a November to June 2022 tapering timeline, this would imply a $15 billion reduction in the purchase pace per month, or a faster meeting-by-meeting adjustment schedule.”</p><p><blockquote>这很可能是因为即使速度稍微快一点也可能不会对大局产生太大影响。贝莱德美洲基本固定收益主管鲍勃·米勒(Bob Miller)写道：“我们认为，美联储开始缩减资产购买规模的门槛非常低，就缩减规模的可能构成而言，似乎存在相当大的共识。”“事实上，我们在7月份就已经有了这样的印象，即美国国债和MBS的缩减将同时发生，假设缩减时间表为11月至2022年6月，这将意味着每月购买速度减少150亿美元，或者更快的逐次会议调整时间表。”</blockquote></p><p> For now, though, the market seems to be taking it one day at a time.</p><p><blockquote>不过，就目前而言，市场似乎正在一天一天地接受它。</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>The Taper Is Coming, Fed Minutes Show. The Stock Market Isn’t Worried.<blockquote>美联储会议纪要显示，缩减规模即将到来。股市并不担心。</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\">\nThe Taper Is Coming, Fed Minutes Show. The Stock Market Isn’t Worried.<blockquote>美联储会议纪要显示，缩减规模即将到来。股市并不担心。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-14 17:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p> The stock market sold off into the end of the day for no reason on Monday and Tuesday. On Wednesday, it seems to be holding up, even after September’s Federal Reserve minutes gave it a reason to drop if it were so inclined.</p><p><blockquote>周一和周二股市无缘无故抛售至收盘。周三，即使在9月份的美联储会议纪要给了它一个下跌的理由（如果它愿意的话）之后，它似乎仍在坚持。</blockquote></p><p> The minutes were expected to be a nonevent. Fed Chair Jerome Powell had already said that the central bank was likely to announce the reduction of its bond buying at its November meeting. The consensus jelled around the idea that the actual taper would begin in December and finished by the middle of 2022.</p><p><blockquote>会议记录预计不会发生任何事件。美联储主席杰罗姆·鲍威尔已经表示，美联储可能会在11月的会议上宣布减少债券购买。人们一致认为，实际的缩减规模将于12月开始，并于2022年中期完成。</blockquote></p><p> The minutes suggest a slightly quicker timeline. The minutes imply that the taper could begin as early as mid-November, perhaps slightly earlier than the market had been expected. There wasn’t much of a reaction, however. Bond yields remained lower on the day, while the&nbsp;S&amp;P 500&nbsp;fell from its high and the&nbsp;Dow Jones Industrial Average&nbsp;slipped into the red. The damage, for now, is quite minimal-with the Dow off just 0.1% and the S&amp;P 500 up 0.2%.</p><p><blockquote>会议记录显示时间表略快。会议纪要暗示，缩减规模最早可能在11月中旬开始，可能略早于市场预期。然而，没有太大的反应。当天债券收益率仍然走低，而标准普尔500指数从高点下跌，道琼斯工业平均指数陷入亏损。就目前而言，损失相当小——道琼斯指数仅下跌0.1%，标普500指数上涨0.2%。</blockquote></p><p> That’s likely because even a slightly faster pace might not change the big picture all that much. “In our view, the bar to get moving on asset purchase tapering is very low for the Fed, and in terms of the likely composition of tapering, there appears to be considerable agreement,” writes Bob Miller, head of Americas fundamental fixed income at BlackRock. “Indeed, we already had the impression in July that the reduction in Treasury securities and MBS would occur at the same time, and assuming a November to June 2022 tapering timeline, this would imply a $15 billion reduction in the purchase pace per month, or a faster meeting-by-meeting adjustment schedule.”</p><p><blockquote>这很可能是因为即使速度稍微快一点也可能不会对大局产生太大影响。贝莱德美洲基本固定收益主管鲍勃·米勒(Bob Miller)写道：“我们认为，美联储开始缩减资产购买规模的门槛非常低，就缩减规模的可能构成而言，似乎存在相当大的共识。”“事实上，我们在7月份就已经有了这样的印象，即美国国债和MBS的缩减将同时发生，假设缩减时间表为11月至2022年6月，这将意味着每月购买速度减少150亿美元，或者更快的逐次会议调整时间表。”</blockquote></p><p> For now, though, the market seems to be taking it one day at a time.</p><p><blockquote>不过，就目前而言，市场似乎正在一天一天地接受它。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-fed-minutes-51634152288?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stock-market-fed-minutes-51634152288?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191878905","content_text":"The stock market sold off into the end of the day for no reason on Monday and Tuesday. On Wednesday, it seems to be holding up, even after September’s Federal Reserve minutes gave it a reason to drop if it were so inclined.\nThe minutes were expected to be a nonevent. Fed Chair Jerome Powell had already said that the central bank was likely to announce the reduction of its bond buying at its November meeting. The consensus jelled around the idea that the actual taper would begin in December and finished by the middle of 2022.\nThe minutes suggest a slightly quicker timeline. The minutes imply that the taper could begin as early as mid-November, perhaps slightly earlier than the market had been expected. There wasn’t much of a reaction, however. Bond yields remained lower on the day, while the S&P 500 fell from its high and the Dow Jones Industrial Average slipped into the red. The damage, for now, is quite minimal-with the Dow off just 0.1% and the S&P 500 up 0.2%.\nThat’s likely because even a slightly faster pace might not change the big picture all that much. “In our view, the bar to get moving on asset purchase tapering is very low for the Fed, and in terms of the likely composition of tapering, there appears to be considerable agreement,” writes Bob Miller, head of Americas fundamental fixed income at BlackRock. “Indeed, we already had the impression in July that the reduction in Treasury securities and MBS would occur at the same time, and assuming a November to June 2022 tapering timeline, this would imply a $15 billion reduction in the purchase pace per month, or a faster meeting-by-meeting adjustment schedule.”\nFor now, though, the market seems to be taking it one day at a time.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1919,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820151838,"gmtCreate":1633360734856,"gmtModify":1633360735539,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Shorts deserve all the pain!&nbsp;","listText":"Shorts deserve all the pain!&nbsp;","text":"Shorts deserve all the pain!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820151838","repostId":"2172995131","repostType":4,"isVote":1,"tweetType":1,"viewCount":2891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820153882,"gmtCreate":1633360639401,"gmtModify":1633360640134,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Start shopping for cheapies soon!&nbsp;","listText":"Start shopping for cheapies soon!&nbsp;","text":"Start shopping for cheapies soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/820153882","repostId":"1121201904","repostType":4,"repost":{"id":"1121201904","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633358944,"share":"https://www.laohu8.com/m/news/1121201904?lang=zh_CN&edition=full","pubTime":"2021-10-04 22:49","market":"us","language":"en","title":"Dow sheds 300 points as investors ditch technology stocks, Nasdaq drops 2%<blockquote>投资者抛弃科技股道指下跌300点纳斯达克下跌2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121201904","media":"Tiger Newspress","summary":"The major averages took steep losses to start the week as investors continued their rotation out of ","content":"<p>The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields.</p><p><blockquote>由于债券收益率上升，投资者继续从科技股中撤出，主要股指在本周初大幅下跌。</blockquote></p><p> The Dow Jones Industrial Average fell about 300 points, despite a large gain in Merck. The S&amp;P 500 shed 1.2%. The technology-focused Nasdaq Composite was the relative underperformer, dipping roughly 2%.</p><p><blockquote>道琼斯工业平均指数下跌约300点，尽管默克公司大幅上涨。标普500下跌1.2%。以科技为重点的纳斯达克综合指数表现相对不佳，下跌约2%。</blockquote></p><p> Large tech shares&nbsp;like&nbsp;Apple,Nvidia,Amazon&nbsp;and&nbsp;Microsoft&nbsp;were lower as investors eyed bond yields.</p><p><blockquote>由于投资者关注债券收益率，苹果、英伟达、亚马逊和微软等大型科技股走低。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow sheds 300 points as investors ditch technology stocks, Nasdaq drops 2%<blockquote>投资者抛弃科技股道指下跌300点纳斯达克下跌2%</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\">\nDow sheds 300 points as investors ditch technology stocks, Nasdaq drops 2%<blockquote>投资者抛弃科技股道指下跌300点纳斯达克下跌2%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-04 22:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields.</p><p><blockquote>由于债券收益率上升，投资者继续从科技股中撤出，主要股指在本周初大幅下跌。</blockquote></p><p> The Dow Jones Industrial Average fell about 300 points, despite a large gain in Merck. The S&amp;P 500 shed 1.2%. The technology-focused Nasdaq Composite was the relative underperformer, dipping roughly 2%.</p><p><blockquote>道琼斯工业平均指数下跌约300点，尽管默克公司大幅上涨。标普500下跌1.2%。以科技为重点的纳斯达克综合指数表现相对不佳，下跌约2%。</blockquote></p><p> Large tech shares&nbsp;like&nbsp;Apple,Nvidia,Amazon&nbsp;and&nbsp;Microsoft&nbsp;were lower as investors eyed bond yields.</p><p><blockquote>由于投资者关注债券收益率，苹果、英伟达、亚马逊和微软等大型科技股走低。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121201904","content_text":"The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields.\nThe Dow Jones Industrial Average fell about 300 points, despite a large gain in Merck. The S&P 500 shed 1.2%. The technology-focused Nasdaq Composite was the relative underperformer, dipping roughly 2%.\nLarge tech shares like Apple,Nvidia,Amazon and Microsoft were lower as investors eyed bond yields.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838657074,"gmtCreate":1629399229098,"gmtModify":1631887569617,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Motley Fool? No Thanks!&nbsp;","listText":"Motley Fool? No Thanks!&nbsp;","text":"Motley Fool? No Thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838657074","repostId":"2160760193","repostType":4,"isVote":1,"tweetType":1,"viewCount":2900,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808109498,"gmtCreate":1627562080714,"gmtModify":1631884235949,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"China playing Poker!","listText":"China playing Poker!","text":"China playing Poker!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808109498","repostId":"1108176649","repostType":4,"isVote":1,"tweetType":1,"viewCount":1692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809276968,"gmtCreate":1627375310454,"gmtModify":1631887569629,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"SOFI 🎁","listText":"SOFI 🎁","text":"SOFI 🎁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809276968","repostId":"2154965218","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800503525,"gmtCreate":1627307274067,"gmtModify":1631887569643,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"About time SEC!","listText":"About time SEC!","text":"About time SEC!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800503525","repostId":"2154579419","repostType":4,"isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800276410,"gmtCreate":1627307111130,"gmtModify":1631887569654,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Pls kindly&nbsp;like. Thank you.&nbsp;","listText":"Pls kindly&nbsp;like. Thank you.&nbsp;","text":"Pls kindly like. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800276410","repostId":"1170225713","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175685337,"gmtCreate":1627028807629,"gmtModify":1631887569665,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Tech stocks !&nbsp; 🥳","listText":"Tech stocks !&nbsp; 🥳","text":"Tech stocks ! 🥳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175685337","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172131739,"gmtCreate":1626942989521,"gmtModify":1631887569676,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Biotech stocks = high risk high reward!&nbsp;","listText":"Biotech stocks = high risk high reward!&nbsp;","text":"Biotech stocks = high risk high reward!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172131739","repostId":"1197792637","repostType":4,"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141842489,"gmtCreate":1625850910641,"gmtModify":1631887569688,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Hurrah!","listText":"Hurrah!","text":"Hurrah!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141842489","repostId":"1173679159","repostType":4,"repost":{"id":"1173679159","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625842396,"share":"https://www.laohu8.com/m/news/1173679159?lang=zh_CN&edition=full","pubTime":"2021-07-09 22:53","market":"us","language":"en","title":"Apple shares surges 1.4%,climbing to a new record high.<blockquote>苹果股价飙升1.4%，攀升至历史新高。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173679159","media":"Tiger Newspress","summary":"Apple shares surges 1.4%,climbing to a new record high.","content":"<p>Apple shares surges&nbsp;1.4%,climbing to a new&nbsp;record high.</p><p><blockquote>苹果股价飙升1.4%，攀升至历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1879e2b236e7f57fd94e6811ef06e\" tg-width=\"792\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple shares surges 1.4%,climbing to a new record high.<blockquote>苹果股价飙升1.4%，攀升至历史新高。</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple shares surges 1.4%,climbing to a new record high.<blockquote>苹果股价飙升1.4%，攀升至历史新高。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-09 22:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple shares surges&nbsp;1.4%,climbing to a new&nbsp;record high.</p><p><blockquote>苹果股价飙升1.4%，攀升至历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1879e2b236e7f57fd94e6811ef06e\" tg-width=\"792\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173679159","content_text":"Apple shares surges 1.4%,climbing to a new record high.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149539974,"gmtCreate":1625734366898,"gmtModify":1631887569701,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Short term pain!&nbsp;","listText":"Short term pain!&nbsp;","text":"Short term pain!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149539974","repostId":"2149436483","repostType":4,"isVote":1,"tweetType":1,"viewCount":410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149592013,"gmtCreate":1625734080432,"gmtModify":1631887569711,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Here we go...","listText":"Here we go...","text":"Here we go...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149592013","repostId":"1169350772","repostType":4,"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153580751,"gmtCreate":1625034591673,"gmtModify":1631887569725,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Biotechs are risky plays but can hit jackpot if lucky!","listText":"Biotechs are risky plays but can hit jackpot if lucky!","text":"Biotechs are risky plays but can hit jackpot if lucky!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153580751","repostId":"1100317118","repostType":4,"repost":{"id":"1100317118","kind":"news","pubTimestamp":1625030487,"share":"https://www.laohu8.com/m/news/1100317118?lang=zh_CN&edition=full","pubTime":"2021-06-30 13:21","market":"us","language":"en","title":"These 2 Nasdaq Biotechs Made Eye-Popping Moves Tuesday<blockquote>这两家纳斯达克生物技术公司周二做出了令人瞠目结舌的举动</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100317118","media":"Motley Fool","summary":"The Nasdaq Composite(NASDAQINDEX:^IXIC)has done well recently, pushing to new record levels. The ind","content":"<p>The&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)has done well recently, pushing to new record levels. The index kept up its momentum on Tuesday, rising just over 0.1% as of 12:30 p.m. EDT.</p><p><blockquote>The<b>纳斯达克复合材料</b>（NASDAQINDEX：^IXIC）最近表现良好，创下历史新高。该指数周二保持势头，截至美国东部时间中午12:30上涨略高于0.1%。</blockquote></p><p> The Nasdaq is known for innovative companies, and a couple ofbiotech stocksgot a lot of attention on Tuesday.<b>Cerevel Therapeutics Holdings</b>(NASDAQ:CERE)got a nice push higher, but investors in&nbsp;<b>Sensei Biotherapeutics</b>(NASDAQ:SNSE)weren't as fortunate. Below, you'll get the details on both biotechs.</p><p><blockquote>纳斯达克以创新型公司而闻名，周二几只生物科技股受到了广泛关注。<b>Cerevel治疗控股公司</b>（纳斯达克：CERE）股价上涨，但投资者<b>唤醒生物治疗</b>（纳斯达克：SNSE）就没那么幸运了。下面，您将获得这两种生物技术的详细信息。</blockquote></p><p> Cerevel serves up an early win</p><p><blockquote>Cerevel早早获胜</blockquote></p><p> Shares of Cerevel were up 95% at middayon Tuesday after having more than doubled earlier in the session. The biotech company had good news from one of its key candidate treatments.</p><p><blockquote>Cerevel的股价在盘中早些时候上涨了一倍多后，周二中午上涨了95%。这家生物技术公司从其关键候选治疗方法之一传来了好消息。</blockquote></p><p> Cerevel announced positive results in its early-stage clinical trial of schizophrenia treatment CVL-231. The Cerevel treatment produced statistically significant improvements in a common scoring system for patients suffering from the disease compared to those who received a placebo. CVL-231 also produced encouraging safety and tolerability data that should be valuable in later-stage trials of the treatment.</p><p><blockquote>Cerevel宣布其治疗精神分裂症CVL-231的早期临床试验取得积极结果。与接受安慰剂的患者相比，Cerevel治疗在患有该疾病的患者的通用评分系统中产生了具有统计学意义的改善。CVL-231还产生了令人鼓舞的安全性和耐受性数据，这些数据在治疗的后期试验中应该是有价值的。</blockquote></p><p> The company was pleased with the results. Cerevel's chief scientific officer sees the results as supporting the broader idea that targeted therapy for certain muscarinic receptors could work as a viable treatment for schizophrenia. At the same time, the executive sees the potential to avoid major side effects of other types of treatments for the disease.</p><p><blockquote>该公司对结果感到满意。Cerevel的首席科学官认为，这些结果支持了更广泛的观点，即针对某些毒蕈碱受体的靶向治疗可以作为精神分裂症的可行治疗方法。与此同时，这位高管看到了避免该疾病其他类型治疗方法的主要副作用的潜力。</blockquote></p><p> Cerevel came public less than a year ago through a SPAC merger with Arya Sciences Acquisition. With the stock far above anywhere it has traded since then, Cerevel is now firmly on the radar for biotech investors across the market.</p><p><blockquote>不到一年前，Cerevel通过SPAC与Arya Sciences Acquisition合并上市。由于该股远高于此后的任何交易价格，Cerevel现在牢牢地受到了整个市场生物技术投资者的关注。</blockquote></p><p> A disappointment for Sensei</p><p><blockquote>老师的失望</blockquote></p><p> Shares of Sensei Biotherapeutics moved the other way, falling more than 15%. Investors weren't pleased to learn of the immunotherapy specialist's strategic reprioritization of its treatment pipeline.</p><p><blockquote>Sensei Biotherapeutics的股价则相反，下跌超过15%。投资者对这家免疫治疗专家对其治疗管道进行战略重新优先排序的消息并不高兴。</blockquote></p><p> Sensei made the decision to shift its priority to its current product candidates, which include the ImmunoPhage treatment SNS-401-NG and the monoclonal antibody SNS-VISTA. By doing so, it hopes to stretch its available cash to cover costs through the first half of 2024.</p><p><blockquote>Sensei决定将重点转移到当前的候选产品上，其中包括免疫噬菌体治疗SNS-401-NG和单克隆抗体SNS-VISTA。通过这样做，它希望扩大可用现金以支付2024年上半年的成本。</blockquote></p><p> Unfortunately, what that means is that Sensei will no longer continue its SNS-301 program. After analyzing clinical activity and data specific to the single-antigen treatment, Sensei believes that it has drawn as much insight as it can from its first-generation candidate. Further action from Sensei should come shortly, with SNS-VISTA studies coming by the end of this year and SNS-401-NG getting further attention in the second half of 2022.</p><p><blockquote>不幸的是，这意味着唤醒将不再继续其SNS-301计划。在分析了单抗原治疗的临床活动和特定数据后，Sensei相信它已经从第一代候选药物中获得了尽可能多的见解。唤醒的进一步行动应该很快就会到来，SNS-VISTA研究将于今年年底进行，SNS-401-NG将在2022年下半年得到进一步关注。</blockquote></p><p> Sensei just came public in early February through an IPO that generated considerable interest. Investors were excited by the hope of personalizing cancer medications to treat disease more effectively, and Sensei sold 7 million shares at $19 per share to IPO investors. First-day excitement sent the stock as high as $26.50 per share, but those gains proved short-lived, and the stock has moved steadily lower ever since. It now stands at less than half its IPO price.</p><p><blockquote>Sensei刚刚在2月初通过IPO上市，引起了相当大的兴趣。投资者对个性化癌症药物以更有效地治疗疾病的希望感到兴奋，Sensei以每股19美元的价格向IPO投资者出售了700万股股票。首日的兴奋使该股高达每股26.50美元，但事实证明这些涨幅是短暂的，此后该股稳步走低。现在它的价格还不到IPO价格的一半。</blockquote></p><p> The biotech industry is full of winners and losers, and it's a high-risk area that can produce huge gains when things go well and massive losses when they don't. Sensei's future seems more in doubt after today's news than it was before, but investors are taking a closer look at what Cerevel might have to offer over the long run.</p><p><blockquote>生物技术行业充满了赢家和输家，这是一个高风险领域，当事情进展顺利时会产生巨大的收益，当事情进展不顺利时会产生巨大的损失。今天的消息传出后，Sensei的未来似乎比以前更加令人怀疑，但投资者正在仔细研究Cerevel从长远来看可能提供的服务。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These 2 Nasdaq Biotechs Made Eye-Popping Moves Tuesday<blockquote>这两家纳斯达克生物技术公司周二做出了令人瞠目结舌的举动</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\">\nThese 2 Nasdaq Biotechs Made Eye-Popping Moves Tuesday<blockquote>这两家纳斯达克生物技术公司周二做出了令人瞠目结舌的举动</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-06-30 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)has done well recently, pushing to new record levels. The index kept up its momentum on Tuesday, rising just over 0.1% as of 12:30 p.m. EDT.</p><p><blockquote>The<b>纳斯达克复合材料</b>（NASDAQINDEX：^IXIC）最近表现良好，创下历史新高。该指数周二保持势头，截至美国东部时间中午12:30上涨略高于0.1%。</blockquote></p><p> The Nasdaq is known for innovative companies, and a couple ofbiotech stocksgot a lot of attention on Tuesday.<b>Cerevel Therapeutics Holdings</b>(NASDAQ:CERE)got a nice push higher, but investors in&nbsp;<b>Sensei Biotherapeutics</b>(NASDAQ:SNSE)weren't as fortunate. Below, you'll get the details on both biotechs.</p><p><blockquote>纳斯达克以创新型公司而闻名，周二几只生物科技股受到了广泛关注。<b>Cerevel治疗控股公司</b>（纳斯达克：CERE）股价上涨，但投资者<b>唤醒生物治疗</b>（纳斯达克：SNSE）就没那么幸运了。下面，您将获得这两种生物技术的详细信息。</blockquote></p><p> Cerevel serves up an early win</p><p><blockquote>Cerevel早早获胜</blockquote></p><p> Shares of Cerevel were up 95% at middayon Tuesday after having more than doubled earlier in the session. The biotech company had good news from one of its key candidate treatments.</p><p><blockquote>Cerevel的股价在盘中早些时候上涨了一倍多后，周二中午上涨了95%。这家生物技术公司从其关键候选治疗方法之一传来了好消息。</blockquote></p><p> Cerevel announced positive results in its early-stage clinical trial of schizophrenia treatment CVL-231. The Cerevel treatment produced statistically significant improvements in a common scoring system for patients suffering from the disease compared to those who received a placebo. CVL-231 also produced encouraging safety and tolerability data that should be valuable in later-stage trials of the treatment.</p><p><blockquote>Cerevel宣布其治疗精神分裂症CVL-231的早期临床试验取得积极结果。与接受安慰剂的患者相比，Cerevel治疗在患有该疾病的患者的通用评分系统中产生了具有统计学意义的改善。CVL-231还产生了令人鼓舞的安全性和耐受性数据，这些数据在治疗的后期试验中应该是有价值的。</blockquote></p><p> The company was pleased with the results. Cerevel's chief scientific officer sees the results as supporting the broader idea that targeted therapy for certain muscarinic receptors could work as a viable treatment for schizophrenia. At the same time, the executive sees the potential to avoid major side effects of other types of treatments for the disease.</p><p><blockquote>该公司对结果感到满意。Cerevel的首席科学官认为，这些结果支持了更广泛的观点，即针对某些毒蕈碱受体的靶向治疗可以作为精神分裂症的可行治疗方法。与此同时，这位高管看到了避免该疾病其他类型治疗方法的主要副作用的潜力。</blockquote></p><p> Cerevel came public less than a year ago through a SPAC merger with Arya Sciences Acquisition. With the stock far above anywhere it has traded since then, Cerevel is now firmly on the radar for biotech investors across the market.</p><p><blockquote>不到一年前，Cerevel通过SPAC与Arya Sciences Acquisition合并上市。由于该股远高于此后的任何交易价格，Cerevel现在牢牢地受到了整个市场生物技术投资者的关注。</blockquote></p><p> A disappointment for Sensei</p><p><blockquote>老师的失望</blockquote></p><p> Shares of Sensei Biotherapeutics moved the other way, falling more than 15%. Investors weren't pleased to learn of the immunotherapy specialist's strategic reprioritization of its treatment pipeline.</p><p><blockquote>Sensei Biotherapeutics的股价则相反，下跌超过15%。投资者对这家免疫治疗专家对其治疗管道进行战略重新优先排序的消息并不高兴。</blockquote></p><p> Sensei made the decision to shift its priority to its current product candidates, which include the ImmunoPhage treatment SNS-401-NG and the monoclonal antibody SNS-VISTA. By doing so, it hopes to stretch its available cash to cover costs through the first half of 2024.</p><p><blockquote>Sensei决定将重点转移到当前的候选产品上，其中包括免疫噬菌体治疗SNS-401-NG和单克隆抗体SNS-VISTA。通过这样做，它希望扩大可用现金以支付2024年上半年的成本。</blockquote></p><p> Unfortunately, what that means is that Sensei will no longer continue its SNS-301 program. After analyzing clinical activity and data specific to the single-antigen treatment, Sensei believes that it has drawn as much insight as it can from its first-generation candidate. Further action from Sensei should come shortly, with SNS-VISTA studies coming by the end of this year and SNS-401-NG getting further attention in the second half of 2022.</p><p><blockquote>不幸的是，这意味着唤醒将不再继续其SNS-301计划。在分析了单抗原治疗的临床活动和特定数据后，Sensei相信它已经从第一代候选药物中获得了尽可能多的见解。唤醒的进一步行动应该很快就会到来，SNS-VISTA研究将于今年年底进行，SNS-401-NG将在2022年下半年得到进一步关注。</blockquote></p><p> Sensei just came public in early February through an IPO that generated considerable interest. Investors were excited by the hope of personalizing cancer medications to treat disease more effectively, and Sensei sold 7 million shares at $19 per share to IPO investors. First-day excitement sent the stock as high as $26.50 per share, but those gains proved short-lived, and the stock has moved steadily lower ever since. It now stands at less than half its IPO price.</p><p><blockquote>Sensei刚刚在2月初通过IPO上市，引起了相当大的兴趣。投资者对个性化癌症药物以更有效地治疗疾病的希望感到兴奋，Sensei以每股19美元的价格向IPO投资者出售了700万股股票。首日的兴奋使该股高达每股26.50美元，但事实证明这些涨幅是短暂的，此后该股稳步走低。现在它的价格还不到IPO价格的一半。</blockquote></p><p> The biotech industry is full of winners and losers, and it's a high-risk area that can produce huge gains when things go well and massive losses when they don't. Sensei's future seems more in doubt after today's news than it was before, but investors are taking a closer look at what Cerevel might have to offer over the long run.</p><p><blockquote>生物技术行业充满了赢家和输家，这是一个高风险领域，当事情进展顺利时会产生巨大的收益，当事情进展不顺利时会产生巨大的损失。今天的消息传出后，Sensei的未来似乎比以前更加令人怀疑，但投资者正在仔细研究Cerevel从长远来看可能提供的服务。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/29/these-2-nasdaq-biotechs-made-eye-popping-moves-tue/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CERE":"Cerevel Therapeutics Holdings, Inc.","SNSE":"Sensei Biotherapeutics, Inc."},"source_url":"https://www.fool.com/investing/2021/06/29/these-2-nasdaq-biotechs-made-eye-popping-moves-tue/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100317118","content_text":"The Nasdaq Composite(NASDAQINDEX:^IXIC)has done well recently, pushing to new record levels. The index kept up its momentum on Tuesday, rising just over 0.1% as of 12:30 p.m. EDT.\nThe Nasdaq is known for innovative companies, and a couple ofbiotech stocksgot a lot of attention on Tuesday.Cerevel Therapeutics Holdings(NASDAQ:CERE)got a nice push higher, but investors in Sensei Biotherapeutics(NASDAQ:SNSE)weren't as fortunate. Below, you'll get the details on both biotechs.\nCerevel serves up an early win\nShares of Cerevel were up 95% at middayon Tuesday after having more than doubled earlier in the session. The biotech company had good news from one of its key candidate treatments.\nCerevel announced positive results in its early-stage clinical trial of schizophrenia treatment CVL-231. The Cerevel treatment produced statistically significant improvements in a common scoring system for patients suffering from the disease compared to those who received a placebo. CVL-231 also produced encouraging safety and tolerability data that should be valuable in later-stage trials of the treatment.\nThe company was pleased with the results. Cerevel's chief scientific officer sees the results as supporting the broader idea that targeted therapy for certain muscarinic receptors could work as a viable treatment for schizophrenia. At the same time, the executive sees the potential to avoid major side effects of other types of treatments for the disease.\nCerevel came public less than a year ago through a SPAC merger with Arya Sciences Acquisition. With the stock far above anywhere it has traded since then, Cerevel is now firmly on the radar for biotech investors across the market.\nA disappointment for Sensei\nShares of Sensei Biotherapeutics moved the other way, falling more than 15%. Investors weren't pleased to learn of the immunotherapy specialist's strategic reprioritization of its treatment pipeline.\nSensei made the decision to shift its priority to its current product candidates, which include the ImmunoPhage treatment SNS-401-NG and the monoclonal antibody SNS-VISTA. By doing so, it hopes to stretch its available cash to cover costs through the first half of 2024.\nUnfortunately, what that means is that Sensei will no longer continue its SNS-301 program. After analyzing clinical activity and data specific to the single-antigen treatment, Sensei believes that it has drawn as much insight as it can from its first-generation candidate. Further action from Sensei should come shortly, with SNS-VISTA studies coming by the end of this year and SNS-401-NG getting further attention in the second half of 2022.\nSensei just came public in early February through an IPO that generated considerable interest. Investors were excited by the hope of personalizing cancer medications to treat disease more effectively, and Sensei sold 7 million shares at $19 per share to IPO investors. First-day excitement sent the stock as high as $26.50 per share, but those gains proved short-lived, and the stock has moved steadily lower ever since. It now stands at less than half its IPO price.\nThe biotech industry is full of winners and losers, and it's a high-risk area that can produce huge gains when things go well and massive losses when they don't. Sensei's future seems more in doubt after today's news than it was before, but investors are taking a closer look at what Cerevel might have to offer over the long run.","news_type":1,"symbols_score_info":{"SNSE":0.9,"CERE":0.9}},"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124268345,"gmtCreate":1624767508687,"gmtModify":1631892830345,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Good picks. I like&nbsp;AMZN, MA &amp; BAC//<a href=\"https://laohu8.com/U/3576734182904550\">@Jamessss</a>: Like and comment","listText":"Good picks. I like&nbsp;AMZN, MA &amp; BAC//<a href=\"https://laohu8.com/U/3576734182904550\">@Jamessss</a>: Like and comment","text":"Good picks. I like AMZN, MA & BAC//@Jamessss: Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124268345","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":138616864,"gmtCreate":1621933627358,"gmtModify":1634185383135,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Will we see $23&nbsp;today? 🥳","listText":"Will we see $23&nbsp;today? 🥳","text":"Will we see $23 today? 🥳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/138616864","repostId":"1162584877","repostType":4,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":691083070,"gmtCreate":1640098048700,"gmtModify":1640098049088,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Hurrah! Tide changing?","listText":"Hurrah! Tide changing?","text":"Hurrah! Tide changing?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/691083070","repostId":"1147636862","repostType":2,"repost":{"id":"1147636862","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640097349,"share":"https://www.laohu8.com/m/news/1147636862?lang=zh_CN&edition=full","pubTime":"2021-12-21 22:35","market":"us","language":"en","title":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147636862","media":"Tiger Newspress","summary":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising betwee","content":"<p>China stocks listed in US&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;BILI,&nbsp;XPeng,&nbsp;NetEase&nbsp;and&nbsp;iQiyi&nbsp;rising&nbsp;between&nbsp;6%&nbsp;and&nbsp;9%.</p><p><blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/446e89d87476774c958537e259ba18c3\" tg-width=\"968\" tg-height=\"711\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</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\">\nChina stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.<blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-21 22:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>China stocks listed in US&nbsp;gained&nbsp;in&nbsp;early&nbsp;trading,&nbsp;with&nbsp;BILI,&nbsp;XPeng,&nbsp;NetEase&nbsp;and&nbsp;iQiyi&nbsp;rising&nbsp;between&nbsp;6%&nbsp;and&nbsp;9%.</p><p><blockquote>在美上市的中概股早盘上涨，哔哩哔哩、小鹏汽车、网易和爱奇艺涨幅在6%至9%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/446e89d87476774c958537e259ba18c3\" tg-width=\"968\" tg-height=\"711\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BILI":"哔哩哔哩","XPEV":"小鹏汽车","NTES":"网易","IQ":"爱奇艺"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147636862","content_text":"China stocks listed in US gained in early trading, with BILI, XPeng, NetEase and iQiyi rising between 6% and 9%.","news_type":1,"symbols_score_info":{"NTES":0.9,"IQ":0.9,"BILI":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820153882,"gmtCreate":1633360639401,"gmtModify":1633360640134,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Start shopping for cheapies soon!&nbsp;","listText":"Start shopping for cheapies soon!&nbsp;","text":"Start shopping for cheapies soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/820153882","repostId":"1121201904","repostType":4,"isVote":1,"tweetType":1,"viewCount":3873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":190560603,"gmtCreate":1620634874102,"gmtModify":1634197525857,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Hmm...all the more that major correction will come...","listText":"Hmm...all the more that major correction will come...","text":"Hmm...all the more that major correction will come...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/190560603","repostId":"1145718364","repostType":4,"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101124888,"gmtCreate":1619865532044,"gmtModify":1634209402509,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Biotech plays are extremely risky!&nbsp;","listText":"Biotech plays are extremely risky!&nbsp;","text":"Biotech plays are extremely risky!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/101124888","repostId":"1165708828","repostType":4,"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352886231,"gmtCreate":1616928736823,"gmtModify":1634523505402,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"1000 EOY?","listText":"1000 EOY?","text":"1000 EOY?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/352886231","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohu8.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</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>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要通过两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_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":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348089937,"gmtCreate":1617868735129,"gmtModify":1634296058536,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Is that 200-300 pt drop on Nasdaq coming?","listText":"Is that 200-300 pt drop on Nasdaq coming?","text":"Is that 200-300 pt drop on Nasdaq coming?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/348089937","repostId":"2125726223","repostType":4,"isVote":1,"tweetType":1,"viewCount":449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101782062,"gmtCreate":1619943857856,"gmtModify":1631884479309,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Hmm...Board needs NEW blood. These old white men are only loyal to him.","listText":"Hmm...Board needs NEW blood. These old white men are only loyal to him.","text":"Hmm...Board needs NEW blood. These old white men are only loyal to him.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/101782062","repostId":"1105099718","repostType":4,"repost":{"id":"1105099718","kind":"news","pubTimestamp":1619897946,"share":"https://www.laohu8.com/m/news/1105099718?lang=zh_CN&edition=full","pubTime":"2021-05-02 03:39","market":"us","language":"en","title":"Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105099718","media":"WSJ","summary":"Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate. Professional money managers are turning up the heat on Warren Buffett’sBerkshire Hathaway Inc.BRK.B-0.95%. California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive. While many of the complaints aren’t new and none of the shareholder proposals are","content":"<p>Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate</p><p><blockquote>机构股东正在敦促这家位于内布拉斯加州奥马哈的企业集团在气候和治理方面进行变革</blockquote></p><p>Professional money managers are turning up the heat on Warren Buffett’s<u>Berkshire Hathaway</u>&nbsp;Inc.BRK.B -0.95%</p><p><blockquote>专业基金经理正在加大对沃伦·巴菲特的压力<u>伯克希尔哈撒韦</u>公司BRK.B-0.95%</blockquote></p><p>California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive<img src=\"https://static.tigerbbs.com/1dd969e4b237144cd02112f41464d169\" tg-width=\"824\" tg-height=\"1396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>加州公共雇员退休系统和路博迈要求这家位于内布拉斯加州奥马哈的企业集团引入新董事，并提供更多有关气候风险和高管的信息</blockquote></p><p>Leading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis &amp; Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.</p><p><blockquote>在周六伯克希尔年会之前，代理顾问Glass Lewis&amp;Co.和Institutional Shareholder Services Inc.建议投资者保留对董事会成员的投票。</blockquote></p><p>While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.</p><p><blockquote>尽管许多投诉并不新鲜，股东提案也不太可能获得通过，但在投资者对企业可持续发展问题的兴趣日益浓厚的情况下，伯克希尔近年来低迷的回报使其更容易受到批评。</blockquote></p><p>The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging as<u>a key selling point for money managers in their efforts to keep client money</u>.</p><p><blockquote>在美国，股东就气候变化、社会进步和治理问题向公司施压的运动继续升温，并成为<u>基金经理努力留住客户资金的一个关键卖点</u>.</blockquote></p><p>Under Mr. Buffett’s leadership,<u>the firm boasts 20% compounded annualized gains from 1965 to 2020</u>, outperforming the S&amp;P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.</p><p><blockquote>在巴菲特先生的领导下，<u>该公司拥有1965年至2020年20%的复合年化收益</u>，跑赢标普500期内含股息10.2%的涨幅。伯克希尔过去三年和五年的总回报率分别为12%和14%，而该指数的总回报率为19%和18%。</blockquote></p><p>“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.</p><p><blockquote>Calpers公司治理主管Simiso Nzima表示：“伯克希尔获得通过的部分原因是其历史上强劲的财务业绩。”</blockquote></p><p>Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built up<u>a diverse portfolio of mostly U.S. businesses and investments meant to perform over decades</u>, not to compete with a volatile market buoyed by booming tech stocks.</p><p><blockquote>伯克希尔哈撒韦公司继续强调其对长期发展的持续关注。巴菲特先生是该公司的首席执行官兼董事长，他建立了<u>主要由美国企业和投资组成的多元化投资组合，预计将持续数十年</u>，而不是与由蓬勃发展的科技股提振的波动市场竞争。</blockquote></p><p>Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.</p><p><blockquote>拥有4440亿美元资产的美国最大公共养老基金Calpers共同发起了一项股东提案，恳求伯克希尔提供更多有关气候相关风险和机遇的信息。</blockquote></p><p>The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.</p><p><blockquote>该养老基金还拒绝投票连任董事会审计和治理委员会成员，理由是未能满足股东对气候风险披露的要求。该公司表示，担心董事会缺乏新成员，不与股东接触，也不让投资者对高管薪酬计划进行投票。</blockquote></p><p>“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.</p><p><blockquote>“如果不更新董事会，下一代董事就无法在长期任职的董事离开董事会之前向他们学习，”恩齐马先生说。</blockquote></p><p>Berkshire declined to comment ahead of the company’s Saturday meeting.</p><p><blockquote>伯克希尔拒绝在公司周六会议前发表评论。</blockquote></p><p>Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.</p><p><blockquote>拥有超过4290亿美元资产的私人基金管理公司Neuberger也表示，将投票支持几项与环境、社会和公司治理问题（通常缩写为ESG）相关的股东主导的提案。</blockquote></p><p>“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”</p><p><blockquote>跟踪该公司的路博迈分析师米歇尔·佐丹奴(Michelle Giordano)表示：“人们可能会认为，如果公司有责任保护环境或在社会问题和治理方面提供良好服务，那么伯克希尔可能会成为这些领域的领导者。”“但好像不是。”</blockquote></p><p>Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage&nbsp;climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already produces<u>a sustainability report</u>.</p><p><blockquote>伯克希尔在其年度委托书中表示，虽然它同意公司有责任管理气候风险，但它更愿意让其各个运营部门致力于自己的环境政策。该公司写道，小型公司办公室的授权将侵犯帮助这些企业在伯克希尔旗下蓬勃发展的自主权。例如，伯克希尔哈撒韦能源公司已经生产<u>可持续发展报告</u>.</blockquote></p><p>Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.</p><p><blockquote>Calpers还承诺支持一项提案，要求该公司报告其员工多元化的努力。</blockquote></p><p>Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”</p><p><blockquote>伯克希尔表示，多元化报告提案不恰当地暗示“伯克希尔60多家运营业务中的每一家都有一种标准化技术来解决多元化、公平性和包容性问题。”</blockquote></p><p>“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.</p><p><blockquote>伯克希尔写道：“为了比较不同地理位置的此类不同业务而要求统一的定量报告是不合理的。”</blockquote></p><p>Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.</p><p><blockquote>Glass Lewis和ISS建议股东投票支持ESG提案，并对某些董事弃权。</blockquote></p><p>“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.</p><p><blockquote>Glass Lewis ESG研究高级总监Courteney Keatinge表示：“今年主流投资者对ESG问题给予了更多关注。”</blockquote></p><p>Another factor is at play: Berkshire shares are slowly changing hands.</p><p><blockquote>另一个因素在起作用：伯克希尔的股票正在慢慢易手。</blockquote></p><p></p><p>Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.</p><p><blockquote>乔治华盛顿大学法学教授劳伦斯·坎宁安(Lawrence Cunningham)撰写了大量有关该公司的文章，他表示，随着时间的推移，巴菲特减持该公司股份的长期计划已将更多伯克希尔股票转移到大型机构投资者手中。</blockquote></p><p>About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.</p><p><blockquote>坎宁安表示，伯克希尔约70%的股票由个人持有，其中许多人是忠于巴菲特的长期持有者。许多人并不关心伯克希尔是否缺乏企业可持续发展报告或随时准备回答他们问题的投资者关系团队。</blockquote></p><p>“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”</p><p><blockquote>巴菲特在最近致股东的信中写道：“伯克希尔不同寻常且有价值的个人股东家族可能会加深您对我们不愿讨好华尔街分析师和机构投资者的理解。”“我们已经拥有了我们想要的投资者，总的来说，我认为他们不会通过替代者来升级。”</blockquote></p><p>The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters.&nbsp;When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.</p><p><blockquote>不过，机构持股比例的逐步上升可能已经让职业经理人有能力在治理问题上向伯克希尔施压。坎宁安说，当巴菲特和他的遗产出售剩余股份时，这些基金经理很可能会持有该公司更多的股份。</blockquote></p><p>“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.</p><p><blockquote>坎宁安表示：“重大领导力和结构性变革将会出现，这些持有者正在为这场战斗做准备。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</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\">\nWarren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-05-02 03:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate</p><p><blockquote>机构股东正在敦促这家位于内布拉斯加州奥马哈的企业集团在气候和治理方面进行变革</blockquote></p><p>Professional money managers are turning up the heat on Warren Buffett’s<u>Berkshire Hathaway</u>&nbsp;Inc.BRK.B -0.95%</p><p><blockquote>专业基金经理正在加大对沃伦·巴菲特的压力<u>伯克希尔哈撒韦</u>公司BRK.B-0.95%</blockquote></p><p>California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive<img src=\"https://static.tigerbbs.com/1dd969e4b237144cd02112f41464d169\" tg-width=\"824\" tg-height=\"1396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>加州公共雇员退休系统和路博迈要求这家位于内布拉斯加州奥马哈的企业集团引入新董事，并提供更多有关气候风险和高管的信息</blockquote></p><p>Leading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis &amp; Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.</p><p><blockquote>在周六伯克希尔年会之前，代理顾问Glass Lewis&amp;Co.和Institutional Shareholder Services Inc.建议投资者保留对董事会成员的投票。</blockquote></p><p>While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.</p><p><blockquote>尽管许多投诉并不新鲜，股东提案也不太可能获得通过，但在投资者对企业可持续发展问题的兴趣日益浓厚的情况下，伯克希尔近年来低迷的回报使其更容易受到批评。</blockquote></p><p>The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging as<u>a key selling point for money managers in their efforts to keep client money</u>.</p><p><blockquote>在美国，股东就气候变化、社会进步和治理问题向公司施压的运动继续升温，并成为<u>基金经理努力留住客户资金的一个关键卖点</u>.</blockquote></p><p>Under Mr. Buffett’s leadership,<u>the firm boasts 20% compounded annualized gains from 1965 to 2020</u>, outperforming the S&amp;P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.</p><p><blockquote>在巴菲特先生的领导下，<u>该公司拥有1965年至2020年20%的复合年化收益</u>，跑赢标普500期内含股息10.2%的涨幅。伯克希尔过去三年和五年的总回报率分别为12%和14%，而该指数的总回报率为19%和18%。</blockquote></p><p>“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.</p><p><blockquote>Calpers公司治理主管Simiso Nzima表示：“伯克希尔获得通过的部分原因是其历史上强劲的财务业绩。”</blockquote></p><p>Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built up<u>a diverse portfolio of mostly U.S. businesses and investments meant to perform over decades</u>, not to compete with a volatile market buoyed by booming tech stocks.</p><p><blockquote>伯克希尔哈撒韦公司继续强调其对长期发展的持续关注。巴菲特先生是该公司的首席执行官兼董事长，他建立了<u>主要由美国企业和投资组成的多元化投资组合，预计将持续数十年</u>，而不是与由蓬勃发展的科技股提振的波动市场竞争。</blockquote></p><p>Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.</p><p><blockquote>拥有4440亿美元资产的美国最大公共养老基金Calpers共同发起了一项股东提案，恳求伯克希尔提供更多有关气候相关风险和机遇的信息。</blockquote></p><p>The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.</p><p><blockquote>该养老基金还拒绝投票连任董事会审计和治理委员会成员，理由是未能满足股东对气候风险披露的要求。该公司表示，担心董事会缺乏新成员，不与股东接触，也不让投资者对高管薪酬计划进行投票。</blockquote></p><p>“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.</p><p><blockquote>“如果不更新董事会，下一代董事就无法在长期任职的董事离开董事会之前向他们学习，”恩齐马先生说。</blockquote></p><p>Berkshire declined to comment ahead of the company’s Saturday meeting.</p><p><blockquote>伯克希尔拒绝在公司周六会议前发表评论。</blockquote></p><p>Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.</p><p><blockquote>拥有超过4290亿美元资产的私人基金管理公司Neuberger也表示，将投票支持几项与环境、社会和公司治理问题（通常缩写为ESG）相关的股东主导的提案。</blockquote></p><p>“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”</p><p><blockquote>跟踪该公司的路博迈分析师米歇尔·佐丹奴(Michelle Giordano)表示：“人们可能会认为，如果公司有责任保护环境或在社会问题和治理方面提供良好服务，那么伯克希尔可能会成为这些领域的领导者。”“但好像不是。”</blockquote></p><p>Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage&nbsp;climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already produces<u>a sustainability report</u>.</p><p><blockquote>伯克希尔在其年度委托书中表示，虽然它同意公司有责任管理气候风险，但它更愿意让其各个运营部门致力于自己的环境政策。该公司写道，小型公司办公室的授权将侵犯帮助这些企业在伯克希尔旗下蓬勃发展的自主权。例如，伯克希尔哈撒韦能源公司已经生产<u>可持续发展报告</u>.</blockquote></p><p>Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.</p><p><blockquote>Calpers还承诺支持一项提案，要求该公司报告其员工多元化的努力。</blockquote></p><p>Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”</p><p><blockquote>伯克希尔表示，多元化报告提案不恰当地暗示“伯克希尔60多家运营业务中的每一家都有一种标准化技术来解决多元化、公平性和包容性问题。”</blockquote></p><p>“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.</p><p><blockquote>伯克希尔写道：“为了比较不同地理位置的此类不同业务而要求统一的定量报告是不合理的。”</blockquote></p><p>Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.</p><p><blockquote>Glass Lewis和ISS建议股东投票支持ESG提案，并对某些董事弃权。</blockquote></p><p>“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.</p><p><blockquote>Glass Lewis ESG研究高级总监Courteney Keatinge表示：“今年主流投资者对ESG问题给予了更多关注。”</blockquote></p><p>Another factor is at play: Berkshire shares are slowly changing hands.</p><p><blockquote>另一个因素在起作用：伯克希尔的股票正在慢慢易手。</blockquote></p><p></p><p>Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.</p><p><blockquote>乔治华盛顿大学法学教授劳伦斯·坎宁安(Lawrence Cunningham)撰写了大量有关该公司的文章，他表示，随着时间的推移，巴菲特减持该公司股份的长期计划已将更多伯克希尔股票转移到大型机构投资者手中。</blockquote></p><p>About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.</p><p><blockquote>坎宁安表示，伯克希尔约70%的股票由个人持有，其中许多人是忠于巴菲特的长期持有者。许多人并不关心伯克希尔是否缺乏企业可持续发展报告或随时准备回答他们问题的投资者关系团队。</blockquote></p><p>“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”</p><p><blockquote>巴菲特在最近致股东的信中写道：“伯克希尔不同寻常且有价值的个人股东家族可能会加深您对我们不愿讨好华尔街分析师和机构投资者的理解。”“我们已经拥有了我们想要的投资者，总的来说，我认为他们不会通过替代者来升级。”</blockquote></p><p>The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters.&nbsp;When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.</p><p><blockquote>不过，机构持股比例的逐步上升可能已经让职业经理人有能力在治理问题上向伯克希尔施压。坎宁安说，当巴菲特和他的遗产出售剩余股份时，这些基金经理很可能会持有该公司更多的股份。</blockquote></p><p>“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.</p><p><blockquote>坎宁安表示：“重大领导力和结构性变革将会出现，这些持有者正在为这场战斗做准备。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/warren-buffett-faces-impatient-investors-as-berkshire-hathaway-returns-decline-11619794480\">WSJ</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":"https://static.tigerbbs.com/daaa666333c3b9bf0b940ffed4c1c369","relate_stocks":{"BRK.B":"伯克希尔B"},"source_url":"https://www.wsj.com/articles/warren-buffett-faces-impatient-investors-as-berkshire-hathaway-returns-decline-11619794480","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105099718","content_text":"Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerateProfessional money managers are turning up the heat on Warren Buffett’sBerkshire Hathaway Inc.BRK.B -0.95%California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executiveLeading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis & Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging asa key selling point for money managers in their efforts to keep client money.Under Mr. Buffett’s leadership,the firm boasts 20% compounded annualized gains from 1965 to 2020, outperforming the S&P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built upa diverse portfolio of mostly U.S. businesses and investments meant to perform over decades, not to compete with a volatile market buoyed by booming tech stocks.Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.Berkshire declined to comment ahead of the company’s Saturday meeting.Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already producesa sustainability report.Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.Another factor is at play: Berkshire shares are slowly changing hands.Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters. When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.","news_type":1,"symbols_score_info":{"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348449703,"gmtCreate":1617956847002,"gmtModify":1634295534540,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"There are&nbsp;opportunities to trade whether&nbsp;Boom or Bust.&nbsp;","listText":"There are&nbsp;opportunities to trade whether&nbsp;Boom or Bust.&nbsp;","text":"There are opportunities to trade whether Boom or Bust.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/348449703","repostId":"1147517160","repostType":4,"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":825192388,"gmtCreate":1634207490009,"gmtModify":1634207610625,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Motley Fool again. No thanks!&nbsp;","listText":"Motley Fool again. No thanks!&nbsp;","text":"Motley Fool again. No thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825192388","repostId":"1184483169","repostType":4,"repost":{"id":"1184483169","kind":"news","pubTimestamp":1634205641,"share":"https://www.laohu8.com/m/news/1184483169?lang=zh_CN&edition=full","pubTime":"2021-10-14 18:00","market":"us","language":"en","title":"4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184483169","media":"Motley Fool","summary":"Crashes and corrections are the perfect opportunity to buy great companies at a discount.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</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\">\n4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-14 18:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd","VTRS":"Viatris Inc.","TCNNF":"Trulieve Cannabis Corporation","BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184483169","content_text":"Key Points\n\nDouble-digit percentage declines in the broader market are more common than investors realize.\nThere are no shortage of catalysts that could cause a stock market crash or correction.\nBuying this quartet of unstoppable companies during a broad-market decline would be a wise move.\n\n\nSome investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.\nRecently, the benchmark S&P 500 underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.\nIMAGE SOURCE: GETTY IMAGES.\nThere are a laundry list of catalysts that could send the market lower\nFor instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.\nTo build on this point, the broader market has responded very similarly following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.\nMacroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.\nThere's also margin debt, which has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.\nEven valuations are a concern. The S&P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.\nIMAGE SOURCE: GETTY IMAGES.\nCrashes and corrections are an opportunity to buy great stocks at a discount\nBut there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.\nIf a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.\nBerkshire Hathaway\nOne of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).\nBerkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.\nThe other catalyst working in the company's favor is its dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.\nIMAGE SOURCE: GETTY IMAGES.\nTrulieve Cannabis\nIf growth stocks are more your thing,marijuana stockTrulieve Cannabis(OTC:TCNNF) has the look of an unstoppable buy if a crash or correction strikes.\nFirst of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.\nMore specific to Trulieve, it's really differentiated itself from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.\nSaturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.\nWhat's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health & Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.\nIMAGE SOURCE: GETTY IMAGES.\nViatris\nWant deep-discount value and a market-topping dividend yield? Drug-companyViatris(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.\nViatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.\nAs you might imagine, combining two drug juggernauts should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.\nThe real beauty of Viatris is the consistency of demand for its products. Since healthcare stocks are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.\nWith a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.\nIMAGE SOURCE: GETTY IMAGES.\nSea Limited\nA fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based Sea Limited(NYSE:SE). Sea has three exceptionally fast-growing operating segments that could one day push its valuation to $1 trillion.\nFirst, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).\nSecond, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and $15 billion in gross merchandise value (GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.\nLastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.","news_type":1,"symbols_score_info":{"SE":0.9,"TCNNF":0.9,"VTRS":0.9,"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":3434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":165960050,"gmtCreate":1624087714170,"gmtModify":1631892830367,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Money to be made UP or DOWN!","listText":"Money to be made UP or DOWN!","text":"Money to be made UP or DOWN!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/165960050","repostId":"1113942445","repostType":4,"isVote":1,"tweetType":1,"viewCount":381,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101761976,"gmtCreate":1619944687895,"gmtModify":1634208934176,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Investing in&nbsp;TESLA requires a BIG leap of faith.&nbsp;","listText":"Investing in&nbsp;TESLA requires a BIG leap of faith.&nbsp;","text":"Investing in TESLA requires a BIG leap of faith.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/101761976","repostId":"1146129324","repostType":4,"repost":{"id":"1146129324","kind":"news","pubTimestamp":1619795610,"share":"https://www.laohu8.com/m/news/1146129324?lang=zh_CN&edition=full","pubTime":"2021-04-30 23:13","market":"us","language":"en","title":"1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146129324","media":"Motley Fool","summary":"Electric-car companyTeslahas now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle  pioneer is on the right track in terms of profitability.The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter fro","content":"<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-30 23:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146129324","content_text":"Electric-car companyTesla(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.\nThe problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.\nRegulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.\nTesla's bottom line got an additional boost in the first quarter from a gain onthe sale ofBitcointo the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:\n\nDATA SOURCE: TESLA. CHART BY AUTHOR.\nThere's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?\nA ton of competition is coming\nTesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.\nThe number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.General Motors(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.\nThose models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.\n\nIMAGE SOURCE: GM.\nFord(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.\nOther car companies have big plans, as well.Volkswagen(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.Toyota(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.\nNot only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.\nNone of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354433898,"gmtCreate":1617194987814,"gmtModify":1634522153010,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Oops. Tax goes up!","listText":"Oops. Tax goes up!","text":"Oops. Tax goes up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354433898","repostId":"1196818239","repostType":4,"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352817232,"gmtCreate":1616927385126,"gmtModify":1634523508878,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Gosh $400m per hr!&nbsp;","listText":"Gosh $400m per hr!&nbsp;","text":"Gosh $400m per hr!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/352817232","repostId":"1198593189","repostType":4,"isVote":1,"tweetType":1,"viewCount":305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352817064,"gmtCreate":1616927268658,"gmtModify":1634523509369,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Of course&nbsp;Miss Wood is still bullish...","listText":"Of course&nbsp;Miss Wood is still bullish...","text":"Of course Miss Wood is still bullish...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/352817064","repostId":"1192588043","repostType":4,"repost":{"id":"1192588043","kind":"news","pubTimestamp":1616765117,"share":"https://www.laohu8.com/m/news/1192588043?lang=zh_CN&edition=full","pubTime":"2021-03-26 21:25","market":"us","language":"en","title":"Here's why Cathie Wood and Kevin O'Leary are still bullish on growth stocks<blockquote>这就是凯西·伍德和凯文·奥利里仍然看好成长型股票的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192588043","media":"CNN Business","summary":"New York (CNN Business) - Tech stocks have taken a hit lately as investors continue to seek comfort ","content":"<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tech stocks have&nbsp;taken a hit lately&nbsp;as investors continue to seek comfort in banks, big oil and other value sectors. But some fans of trendy momentum stocks aren't giving up on them just yet.</p><p><blockquote><b>纽约（CNN商业）——</b>随着投资者继续在银行、大型石油和其他价值行业寻求安慰，科技股最近遭受了打击。但一些时尚动量股的粉丝还没有放弃它们。</blockquote></p><p> That's the message from Cathie Wood of Ark Invest — who has become one of the&nbsp;more influential voices on Wall Street&nbsp;and is a major backer of&nbsp;Tesla&nbsp;(TSLA)— and two other titans of growth investing, who shared their investment insights Thursday.</p><p><blockquote>这是Ark Invest的凯西·伍德(Cathie Wood)和另外两位成长型投资巨头传达的信息，她已成为华尔街最具影响力的声音之一，也是特斯拉(TSLA)的主要支持者，他们周四分享了他们的投资见解。</blockquote></p><p> \"We've seen higher valuation stocks hit hard this year. But the growth for these innovative companies will still be treated well over time,\" Wood said during a webcast hosted by&nbsp;Cboe&nbsp;(CBOE)&nbsp;Global Markets.</p><p><blockquote>伍德在芝加哥期权交易所(CBOE)Global Markets主办的网络直播中表示：“今年我们看到估值较高的股票遭受重创。但随着时间的推移，这些创新型公司的增长仍将受到良好对待。”</blockquote></p><p> Wood joined Kevin O'Leary of \"Shark Tank\" fame (he also runs a family of&nbsp;O'Shares ETFs) and Jan van Eck, whose firm recently launched the&nbsp;BUZZ ETF&nbsp;that tracks&nbsp;stocks popular on social media, for the Cboe chat.</p><p><blockquote>伍德加入了因《创智赢家》而出名的凯文·奥利里（Kevin O'Leary）（他还经营着O'Shares ETF家族）和扬·范·埃克（Jan van Eck）的行列，后者的公司最近推出了追踪社交媒体上流行股票的BUZZ ETF，参加了Cboe chat。</blockquote></p><p> Wood noted that investors are shifting their money into more so-called cyclical areas — those dependent on the success of the economy, like retailers and airlines — and said that's a good thing. She's encouraged to see that the broader market rally is broadening even further.</p><p><blockquote>伍德指出，投资者正在将资金转移到更多所谓的周期性领域——那些依赖于经济成功的领域，如零售商和航空公司——并表示这是一件好事。看到大盘涨势进一步扩大，她感到鼓舞。</blockquote></p><p> <b>The bullish case for growth stocks still exists</b></p><p><blockquote><b>成长股看涨理由依然存在</b></blockquote></p><p> As the economy continues its fragile recovery, fears about bond yields and inflation have been high. But all three of the fund managers said they are not too worried about these trends hurting growth stocks.</p><p><blockquote>随着经济继续脆弱的复苏，人们对债券收益率和通胀的担忧一直很高。但三位基金经理都表示，他们并不太担心这些趋势会损害成长型股票。</blockquote></p><p> They also stressed that younger individual investors will continue to play a big role in the market thanks to the rise of zero commission brokerage firms: \"There are a lot of retail investors playing in the market thanks to Robinhood and Coinbase. Individual investors are more engaged,\" van Eck said.</p><p><blockquote>他们还强调，由于零佣金经纪公司的兴起，年轻的个人投资者将继续在市场中发挥重要作用：“由于Robinhood和Coinbase，市场上有很多散户投资者。个人投资者更加投入，”van Eck说。</blockquote></p><p> He says investors should flock more to companies that have a big competitive advantage, such as those in his firm'sWide Moat ETF(MOAT)— which invests in stocks that are dominant in their respective fields, like its key holdings including&nbsp;Charles Schwab&nbsp;(SCHW),Intel&nbsp;(INTC),Microsoft&nbsp;(MSFT)&nbsp;and&nbsp;Amazon(AMZN).</p><p><blockquote>他表示，投资者应该更多地涌向具有巨大竞争优势的公司，例如他公司的宽护城河ETF(MOAT)中的公司，该ETF投资于在各自领域占据主导地位的股票，例如其主要持股包括嘉信理财(SCHW)、英特尔(INTC)、微软(MSFT)和亚马逊(AMZN)。</blockquote></p><p> O'Leary, too, believes the stock market boom can last, saying he $1.9 trillion in new stimulus is \"free money\" for many investors. But he's not buying into the notion that cyclical stocks can continue to outperform tech for much longer.</p><p><blockquote>奥利里也相信股市繁荣可以持续，他表示1.9万亿美元的新刺激计划对许多投资者来说是“免费资金”。但他并不相信周期性股票可以在更长时间内继续跑赢科技股的观点。</blockquote></p><p> \"Yes, people are seeking quality. But some sectors are permanently damaged and airlines are one of them due to technology,\" he said. \"I don't need to fly to Dubai as much anymore for meetings when were doing Zoom calls every week.\"</p><p><blockquote>“是的，人们追求质量。但由于技术的原因，一些行业受到了永久性的损害，航空公司就是其中之一，”他说。“当我们每周都在评级举办Zoom时，我不再需要飞往迪拜参加会议了。”</blockquote></p><p> O'Leary said he is also willing to make some speculative bets on emerging industries that aren't getting a lot of attention. For example, O'Leary's firm owns shares of&nbsp;MindMed&nbsp;(MMEDF), which is working on developing legal psychedelic medications that can be used to help treat depression, anxiety and other mental health disorders.</p><p><blockquote>奥利里表示，他也愿意对没有受到太多关注的新兴行业进行一些投机性押注。例如，奥利里的公司拥有MindMed(MMEDF)的股份，该公司正致力于开发合法的迷幻药物，可用于帮助治疗抑郁症、焦虑症和其他心理健康障碍。</blockquote></p><p> Wood is also investing in innovative health care companies, with oneArk ETF devoted to genomics&nbsp;(ARKG). And she thinks younger investors, many of whom are inheriting money from baby boomers, will continue to gravitate toward more dynamic fields like robotics and alternative energy. So she's not too concerned that the recent rebound in value stocks spells an end to the tech renaissance.</p><p><blockquote>Wood还投资创新型医疗保健公司，oneArk ETF专门投资基因组学(ARKG)。她认为，年轻投资者（其中许多人继承了婴儿潮一代的资金）将继续被机器人和替代能源等更具活力的领域所吸引。因此，她并不太担心最近价值股的反弹意味着科技复兴的结束。</blockquote></p><p> \"A lot of companies catering to short-term investors who wanted profits now invested more in stock buybacks and dividends over innovation,\" Wood said. \"That puts them in harm's way.\"</p><p><blockquote>伍德表示：“许多迎合想要利润的短期投资者的公司现在更多地投资于股票回购和股息，而不是创新。”“这让他们处于危险之中。”</blockquote></p><p> <b>'Prime time' for bitcoin coming?</b></p><p><blockquote><b>比特币的“黄金时间”即将到来？</b></blockquote></p><p> Wood also thinks bitcoin is ready for \"prime time\" and that prices will continue climbing over the long haul as more companies will adopt crypto-friendly strategies like Tesla andSquar(SQ)have done. In fact, Wood said she thinks it makes sense for investors to have between 2.5% and 6.5% of their assets in bitcoin, adding that her funds are betting on crypto primarily through the publicly traded Grayscale Bitcoin Trus.(GBTC)</p><p><blockquote>伍德还认为，比特币已经为“黄金时间”做好了准备，随着越来越多的公司采用像特斯拉和Squar(SQ)那样的加密货币友好策略，价格将长期继续攀升。事实上，伍德表示，她认为投资者将2.5%至6.5%的资产投资于比特币是有意义的，并补充说她的基金主要通过公开交易的灰度比特币Trus押注加密货币。(GBTC)</blockquote></p><p> O'Leary, meanwhile, had been somewhat skeptical of bitcoin a few years ago. But he said Thursday that he is growing more convinced that bitcoin will gain traction, and he believes it makes to have about 3% of a portfolio in bitcoin as well as crypto miner stocks.</p><p><blockquote>与此同时，奥利里几年前对比特币有些怀疑。但他周四表示，他越来越相信比特币将获得关注，他相信比特币以及加密货币矿商股票的投资组合中约3%的份额将会增加。</blockquote></p><p> And van Eck noted that the upcoming&nbsp;market debut of Coinbase&nbsp;will be one to watch — at a potential valuation of $100 billion following its direct listing, the stock would dwarf the roughly $24 billion market value of&nbsp;Nasda.(NDAQ)</p><p><blockquote>van Eck指出，Coinbase即将在市场上首次亮相将值得关注——其直接上市后的潜在估值为1000亿美元，该股将使Nasda约240亿美元的市值相形见绌。(NDAQ)</blockquote></p><p> With that in mind, van Eck expects more big investment firms to try to cash in on bitcoin or risk being left out.Fidelit,(EFIPX)&nbsp;for example, just jointed a growing list of firms filing to launch a crypto ETF with the SEC.</p><p><blockquote>考虑到这一点，van Eck预计更多大型投资公司将尝试从比特币中获利，否则将面临被排除在外的风险。例如，Fidelit(EFIPX)刚刚加入了越来越多向SEC申请推出加密货币ETF的公司名单。</blockquote></p><p> \"Crypto Wall Street will be a disruptive threat to traditional banks and institutions,\" van Eck said.</p><p><blockquote>“加密华尔街将对传统银行和机构构成颠覆性威胁，”范埃克说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's why Cathie Wood and Kevin O'Leary are still bullish on growth stocks<blockquote>这就是凯西·伍德和凯文·奥利里仍然看好成长型股票的原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's why Cathie Wood and Kevin O'Leary are still bullish on growth stocks<blockquote>这就是凯西·伍德和凯文·奥利里仍然看好成长型股票的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-03-26 21:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tech stocks have&nbsp;taken a hit lately&nbsp;as investors continue to seek comfort in banks, big oil and other value sectors. But some fans of trendy momentum stocks aren't giving up on them just yet.</p><p><blockquote><b>纽约（CNN商业）——</b>随着投资者继续在银行、大型石油和其他价值行业寻求安慰，科技股最近遭受了打击。但一些时尚动量股的粉丝还没有放弃它们。</blockquote></p><p> That's the message from Cathie Wood of Ark Invest — who has become one of the&nbsp;more influential voices on Wall Street&nbsp;and is a major backer of&nbsp;Tesla&nbsp;(TSLA)— and two other titans of growth investing, who shared their investment insights Thursday.</p><p><blockquote>这是Ark Invest的凯西·伍德(Cathie Wood)和另外两位成长型投资巨头传达的信息，她已成为华尔街最具影响力的声音之一，也是特斯拉(TSLA)的主要支持者，他们周四分享了他们的投资见解。</blockquote></p><p> \"We've seen higher valuation stocks hit hard this year. But the growth for these innovative companies will still be treated well over time,\" Wood said during a webcast hosted by&nbsp;Cboe&nbsp;(CBOE)&nbsp;Global Markets.</p><p><blockquote>伍德在芝加哥期权交易所(CBOE)Global Markets主办的网络直播中表示：“今年我们看到估值较高的股票遭受重创。但随着时间的推移，这些创新型公司的增长仍将受到良好对待。”</blockquote></p><p> Wood joined Kevin O'Leary of \"Shark Tank\" fame (he also runs a family of&nbsp;O'Shares ETFs) and Jan van Eck, whose firm recently launched the&nbsp;BUZZ ETF&nbsp;that tracks&nbsp;stocks popular on social media, for the Cboe chat.</p><p><blockquote>伍德加入了因《创智赢家》而出名的凯文·奥利里（Kevin O'Leary）（他还经营着O'Shares ETF家族）和扬·范·埃克（Jan van Eck）的行列，后者的公司最近推出了追踪社交媒体上流行股票的BUZZ ETF，参加了Cboe chat。</blockquote></p><p> Wood noted that investors are shifting their money into more so-called cyclical areas — those dependent on the success of the economy, like retailers and airlines — and said that's a good thing. She's encouraged to see that the broader market rally is broadening even further.</p><p><blockquote>伍德指出，投资者正在将资金转移到更多所谓的周期性领域——那些依赖于经济成功的领域，如零售商和航空公司——并表示这是一件好事。看到大盘涨势进一步扩大，她感到鼓舞。</blockquote></p><p> <b>The bullish case for growth stocks still exists</b></p><p><blockquote><b>成长股看涨理由依然存在</b></blockquote></p><p> As the economy continues its fragile recovery, fears about bond yields and inflation have been high. But all three of the fund managers said they are not too worried about these trends hurting growth stocks.</p><p><blockquote>随着经济继续脆弱的复苏，人们对债券收益率和通胀的担忧一直很高。但三位基金经理都表示，他们并不太担心这些趋势会损害成长型股票。</blockquote></p><p> They also stressed that younger individual investors will continue to play a big role in the market thanks to the rise of zero commission brokerage firms: \"There are a lot of retail investors playing in the market thanks to Robinhood and Coinbase. Individual investors are more engaged,\" van Eck said.</p><p><blockquote>他们还强调，由于零佣金经纪公司的兴起，年轻的个人投资者将继续在市场中发挥重要作用：“由于Robinhood和Coinbase，市场上有很多散户投资者。个人投资者更加投入，”van Eck说。</blockquote></p><p> He says investors should flock more to companies that have a big competitive advantage, such as those in his firm'sWide Moat ETF(MOAT)— which invests in stocks that are dominant in their respective fields, like its key holdings including&nbsp;Charles Schwab&nbsp;(SCHW),Intel&nbsp;(INTC),Microsoft&nbsp;(MSFT)&nbsp;and&nbsp;Amazon(AMZN).</p><p><blockquote>他表示，投资者应该更多地涌向具有巨大竞争优势的公司，例如他公司的宽护城河ETF(MOAT)中的公司，该ETF投资于在各自领域占据主导地位的股票，例如其主要持股包括嘉信理财(SCHW)、英特尔(INTC)、微软(MSFT)和亚马逊(AMZN)。</blockquote></p><p> O'Leary, too, believes the stock market boom can last, saying he $1.9 trillion in new stimulus is \"free money\" for many investors. But he's not buying into the notion that cyclical stocks can continue to outperform tech for much longer.</p><p><blockquote>奥利里也相信股市繁荣可以持续，他表示1.9万亿美元的新刺激计划对许多投资者来说是“免费资金”。但他并不相信周期性股票可以在更长时间内继续跑赢科技股的观点。</blockquote></p><p> \"Yes, people are seeking quality. But some sectors are permanently damaged and airlines are one of them due to technology,\" he said. \"I don't need to fly to Dubai as much anymore for meetings when were doing Zoom calls every week.\"</p><p><blockquote>“是的，人们追求质量。但由于技术的原因，一些行业受到了永久性的损害，航空公司就是其中之一，”他说。“当我们每周都在评级举办Zoom时，我不再需要飞往迪拜参加会议了。”</blockquote></p><p> O'Leary said he is also willing to make some speculative bets on emerging industries that aren't getting a lot of attention. For example, O'Leary's firm owns shares of&nbsp;MindMed&nbsp;(MMEDF), which is working on developing legal psychedelic medications that can be used to help treat depression, anxiety and other mental health disorders.</p><p><blockquote>奥利里表示，他也愿意对没有受到太多关注的新兴行业进行一些投机性押注。例如，奥利里的公司拥有MindMed(MMEDF)的股份，该公司正致力于开发合法的迷幻药物，可用于帮助治疗抑郁症、焦虑症和其他心理健康障碍。</blockquote></p><p> Wood is also investing in innovative health care companies, with oneArk ETF devoted to genomics&nbsp;(ARKG). And she thinks younger investors, many of whom are inheriting money from baby boomers, will continue to gravitate toward more dynamic fields like robotics and alternative energy. So she's not too concerned that the recent rebound in value stocks spells an end to the tech renaissance.</p><p><blockquote>Wood还投资创新型医疗保健公司，oneArk ETF专门投资基因组学(ARKG)。她认为，年轻投资者（其中许多人继承了婴儿潮一代的资金）将继续被机器人和替代能源等更具活力的领域所吸引。因此，她并不太担心最近价值股的反弹意味着科技复兴的结束。</blockquote></p><p> \"A lot of companies catering to short-term investors who wanted profits now invested more in stock buybacks and dividends over innovation,\" Wood said. \"That puts them in harm's way.\"</p><p><blockquote>伍德表示：“许多迎合想要利润的短期投资者的公司现在更多地投资于股票回购和股息，而不是创新。”“这让他们处于危险之中。”</blockquote></p><p> <b>'Prime time' for bitcoin coming?</b></p><p><blockquote><b>比特币的“黄金时间”即将到来？</b></blockquote></p><p> Wood also thinks bitcoin is ready for \"prime time\" and that prices will continue climbing over the long haul as more companies will adopt crypto-friendly strategies like Tesla andSquar(SQ)have done. In fact, Wood said she thinks it makes sense for investors to have between 2.5% and 6.5% of their assets in bitcoin, adding that her funds are betting on crypto primarily through the publicly traded Grayscale Bitcoin Trus.(GBTC)</p><p><blockquote>伍德还认为，比特币已经为“黄金时间”做好了准备，随着越来越多的公司采用像特斯拉和Squar(SQ)那样的加密货币友好策略，价格将长期继续攀升。事实上，伍德表示，她认为投资者将2.5%至6.5%的资产投资于比特币是有意义的，并补充说她的基金主要通过公开交易的灰度比特币Trus押注加密货币。(GBTC)</blockquote></p><p> O'Leary, meanwhile, had been somewhat skeptical of bitcoin a few years ago. But he said Thursday that he is growing more convinced that bitcoin will gain traction, and he believes it makes to have about 3% of a portfolio in bitcoin as well as crypto miner stocks.</p><p><blockquote>与此同时，奥利里几年前对比特币有些怀疑。但他周四表示，他越来越相信比特币将获得关注，他相信比特币以及加密货币矿商股票的投资组合中约3%的份额将会增加。</blockquote></p><p> And van Eck noted that the upcoming&nbsp;market debut of Coinbase&nbsp;will be one to watch — at a potential valuation of $100 billion following its direct listing, the stock would dwarf the roughly $24 billion market value of&nbsp;Nasda.(NDAQ)</p><p><blockquote>van Eck指出，Coinbase即将在市场上首次亮相将值得关注——其直接上市后的潜在估值为1000亿美元，该股将使Nasda约240亿美元的市值相形见绌。(NDAQ)</blockquote></p><p> With that in mind, van Eck expects more big investment firms to try to cash in on bitcoin or risk being left out.Fidelit,(EFIPX)&nbsp;for example, just jointed a growing list of firms filing to launch a crypto ETF with the SEC.</p><p><blockquote>考虑到这一点，van Eck预计更多大型投资公司将尝试从比特币中获利，否则将面临被排除在外的风险。例如，Fidelit(EFIPX)刚刚加入了越来越多向SEC申请推出加密货币ETF的公司名单。</blockquote></p><p> \"Crypto Wall Street will be a disruptive threat to traditional banks and institutions,\" van Eck said.</p><p><blockquote>“加密华尔街将对传统银行和机构构成颠覆性威胁，”范埃克说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/03/25/investing/cathie-wood-kevin-oleary-vaneck-stocks/index.html\">CNN Business</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","GBTC":"比特币ETF-Grayscale","ARKG":"ARK Genomic Revolution ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/03/25/investing/cathie-wood-kevin-oleary-vaneck-stocks/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192588043","content_text":"New York (CNN Business) - Tech stocks have taken a hit lately as investors continue to seek comfort in banks, big oil and other value sectors. But some fans of trendy momentum stocks aren't giving up on them just yet.\nThat's the message from Cathie Wood of Ark Invest — who has become one of the more influential voices on Wall Street and is a major backer of Tesla (TSLA)— and two other titans of growth investing, who shared their investment insights Thursday.\n\"We've seen higher valuation stocks hit hard this year. But the growth for these innovative companies will still be treated well over time,\" Wood said during a webcast hosted by Cboe (CBOE) Global Markets.\nWood joined Kevin O'Leary of \"Shark Tank\" fame (he also runs a family of O'Shares ETFs) and Jan van Eck, whose firm recently launched the BUZZ ETF that tracks stocks popular on social media, for the Cboe chat.\nWood noted that investors are shifting their money into more so-called cyclical areas — those dependent on the success of the economy, like retailers and airlines — and said that's a good thing. She's encouraged to see that the broader market rally is broadening even further.\nThe bullish case for growth stocks still exists\nAs the economy continues its fragile recovery, fears about bond yields and inflation have been high. But all three of the fund managers said they are not too worried about these trends hurting growth stocks.\nThey also stressed that younger individual investors will continue to play a big role in the market thanks to the rise of zero commission brokerage firms: \"There are a lot of retail investors playing in the market thanks to Robinhood and Coinbase. Individual investors are more engaged,\" van Eck said.\nHe says investors should flock more to companies that have a big competitive advantage, such as those in his firm'sWide Moat ETF(MOAT)— which invests in stocks that are dominant in their respective fields, like its key holdings including Charles Schwab (SCHW),Intel (INTC),Microsoft (MSFT) and Amazon(AMZN).\nO'Leary, too, believes the stock market boom can last, saying he $1.9 trillion in new stimulus is \"free money\" for many investors. But he's not buying into the notion that cyclical stocks can continue to outperform tech for much longer.\n\"Yes, people are seeking quality. But some sectors are permanently damaged and airlines are one of them due to technology,\" he said. \"I don't need to fly to Dubai as much anymore for meetings when were doing Zoom calls every week.\"\nO'Leary said he is also willing to make some speculative bets on emerging industries that aren't getting a lot of attention. For example, O'Leary's firm owns shares of MindMed (MMEDF), which is working on developing legal psychedelic medications that can be used to help treat depression, anxiety and other mental health disorders.\nWood is also investing in innovative health care companies, with oneArk ETF devoted to genomics (ARKG). And she thinks younger investors, many of whom are inheriting money from baby boomers, will continue to gravitate toward more dynamic fields like robotics and alternative energy. So she's not too concerned that the recent rebound in value stocks spells an end to the tech renaissance.\n\"A lot of companies catering to short-term investors who wanted profits now invested more in stock buybacks and dividends over innovation,\" Wood said. \"That puts them in harm's way.\"\n'Prime time' for bitcoin coming?\nWood also thinks bitcoin is ready for \"prime time\" and that prices will continue climbing over the long haul as more companies will adopt crypto-friendly strategies like Tesla andSquar(SQ)have done. In fact, Wood said she thinks it makes sense for investors to have between 2.5% and 6.5% of their assets in bitcoin, adding that her funds are betting on crypto primarily through the publicly traded Grayscale Bitcoin Trus.(GBTC)\nO'Leary, meanwhile, had been somewhat skeptical of bitcoin a few years ago. But he said Thursday that he is growing more convinced that bitcoin will gain traction, and he believes it makes to have about 3% of a portfolio in bitcoin as well as crypto miner stocks.\nAnd van Eck noted that the upcoming market debut of Coinbase will be one to watch — at a potential valuation of $100 billion following its direct listing, the stock would dwarf the roughly $24 billion market value of Nasda.(NDAQ)\nWith that in mind, van Eck expects more big investment firms to try to cash in on bitcoin or risk being left out.Fidelit,(EFIPX) for example, just jointed a growing list of firms filing to launch a crypto ETF with the SEC.\n\"Crypto Wall Street will be a disruptive threat to traditional banks and institutions,\" van Eck said.","news_type":1,"symbols_score_info":{".SPX":0.9,"GBTC":0.9,".DJI":0.9,"XBTmain":0.9,"BTCmain":0.9,".IXIC":0.9,"ARKG":0.9}},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":696314720,"gmtCreate":1640617603884,"gmtModify":1640617739483,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Interesting.","listText":"Interesting.","text":"Interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696314720","repostId":"1114062676","repostType":2,"isVote":1,"tweetType":1,"viewCount":3684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":149592013,"gmtCreate":1625734080432,"gmtModify":1631887569711,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Here we go...","listText":"Here we go...","text":"Here we go...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149592013","repostId":"1169350772","repostType":4,"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124232752,"gmtCreate":1624766302076,"gmtModify":1631892830356,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Continue to accumulate&nbsp;AMZN on dips.&nbsp;","listText":"Continue to accumulate&nbsp;AMZN on dips.&nbsp;","text":"Continue to accumulate AMZN on dips.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124232752","repostId":"1184001921","repostType":4,"repost":{"id":"1184001921","kind":"news","pubTimestamp":1624763737,"share":"https://www.laohu8.com/m/news/1184001921?lang=zh_CN&edition=full","pubTime":"2021-06-27 11:15","market":"us","language":"en","title":"Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184001921","media":"seekingalpha","summary":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce i","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</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\">\nAmazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price\">seekingalpha</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":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184001921","content_text":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.\nUnfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.\nThis article looks at what Amazon stock is most likely worth for us investors.\nI hope you enjoy.\n\nSundry Photography/iStock Editorial via Getty Images\nToday, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.\nSource: Author\nYou might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.\nIn this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.\nSomething important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.\nThis method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.\nBut after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.\n\n Warren Buffett said, “The three most important words in investing are\n margin of safety.” That means to buy stuff on sale... That's the whole secret to great investing.\n\n\n Rule 1 Investing\n\nThis model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.\nBusiness Model\nWhere does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.\nAs a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.\nAnd later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nI projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.\nHopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.\nHere's a look at Amazon's International segment:\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nFor Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.\nAnd for Amazon's last and most exciting segment, here's AWS:\nSource: Author\nAWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about 17.5% CAGR until 2025.\nAdditionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.\nThese projections were added together to help us figure out what the entire company should be worth.\nCapital Allocation\nHow does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.\nSource: Author\nThe biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.\n\n In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.\n There were no repurchases of common stock in 2018, 2019, or 2020.\n\n\n Source:2020 10-K page 60,\n emphasis added\n\nBut for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.\nAmazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.\nAmazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.\nValuation\nFirst, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.\nSource: Author\nI used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.\nThis model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.\nRight now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.\nSource: Author\nDown at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.\nSource: Author\nToday, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.\nThese estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.\nDown at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.\nThe model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.\n\"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.\nBut the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.\nRecap\nToday, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.\nBut if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.\nEven if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.\nThank you very much for reading, and I hope that you have a great rest of your day.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137046304,"gmtCreate":1622274576408,"gmtModify":1634102563957,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"Buy the dip &amp; trade the bounce?","listText":"Buy the dip &amp; trade the bounce?","text":"Buy the dip & trade the bounce?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137046304","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131492302,"gmtCreate":1621871516306,"gmtModify":1634185900610,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://static.tigerbbs.com/91c62b44c75f8a4a9e0b7566bd02134d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574671514316116","idStr":"3574671514316116"},"themes":[],"htmlText":"PLTR is a gem!","listText":"PLTR is a gem!","text":"PLTR is a gem!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/131492302","repostId":"2137155387","repostType":4,"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}