WZY999的个人主页 - 老虎社区

WZY999

WZY999

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2021-11-14

[Smile]

@Alexngo:$BlackBerry(BB)$BB Shareholders come in now!How do you see BB in the next 3 years? Will you buy into BB because:1) The price dip? 2) To average your cost? 3) You believe the price will soar in the next 3 years?

2021-11-12

[Smile] //@股惑仔79:[What]

抱歉，原内容已删除

2021-11-12

[Smile] //@Alexngo:Don't like

抱歉，原内容已删除

2021-10-31

[Smile]

抱歉，原内容已删除

2021-10-30

[Smile] //@股惑仔79:[What]

Amazon badly misses on earnings and revenue, gives disappointing guidance<blockquote>亚马逊的盈利和收入严重下滑，给出的指引令人失望</blockquote>

2021-10-13

[Smile] //@Alexngo:Pls like

抱歉，原内容已删除

2021-10-13

[Miser]

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

2021-10-13

[Smile]

抱歉，原内容已删除

2021-10-07

[Smile] [Smile] //@Alexngo:Hope everyday rises 😁

抱歉，原内容已删除

2021-09-29

[Great] //@股惑仔79:[What]

抱歉，原内容已删除

2021-09-20

[Smile] //@股惑仔79:[Great]

US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>

2021-09-20

[Great] //@股惑仔79:[Great]

抱歉，原内容已删除

2021-09-18

[Smile] //@Alexngo:Like pls

S&P ends modestly lower as rising Treasury yields offset robust retail data<blockquote>美国国债收益率上升抵消了强劲的零售数据，标普小幅收低</blockquote>

2021-09-11

[Smile] //@股惑仔79:[Great]

UP Fintech Reports More Than 60% of Newly Funded Accounts Acquired From International Markets<blockquote>老虎证券报告称，超过60%的新资金账户是从国际市场获得的</blockquote>

2021-09-11

[Cry] //@Alexngo:Shared

@Buy_Sell:🚀【9月9日】投行大跌警告，股指中概齐跌！今天有什么操作？

2021-09-11

//@Alexngo:Shared

@Buy_Sell:🚀【9月9日】投行大跌警告，股指中概齐跌！今天有什么操作？

2021-09-05

Ok

抱歉，原内容已删除

2021-09-05

Ok

抱歉，原内容已删除

2021-09-05

Ok

抱歉，原内容已删除

2021-09-05

[Smile]

Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>

去老虎APP查看更多动态

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href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","listText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","text":"[Smile] //@股惑仔79:[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/857505134","repostId":"1197599551","repostType":4,"repost":{"id":"1197599551","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":1635461289,"share":"https://www.laohu8.com/m/news/1197599551?lang=zh_CN&edition=full","pubTime":"2021-10-29 06:48","market":"us","language":"en","title":"Amazon badly misses on earnings and revenue, gives disappointing guidance<blockquote>亚马逊的盈利和收入严重下滑，给出的指引令人失望</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197599551","media":"Tiger Newspress","summary":"Amazon shares dropped more than 4% in extended trading on Thursday after the company reported weaker","content":"<p>Amazon&nbsp;shares dropped more than 4% in extended trading on Thursday after the company&nbsp;reported&nbsp;weaker-than-expected results for the third quarter and delivered disappointing guidance for the critical holiday period.</p><p><blockquote>亚马逊股价周四在盘后交易中下跌超过4%，此前该公司公布了弱于预期的第三季度业绩，并为关键假期期间提供了令人失望的指引。</blockquote></p><p> <ul>  <li><b>Earnings:</b>$6.12 vs $8.92 per share expected, according to analysts surveyed by Refinitiv</li>  <li><b>Revenue:</b>$110.81 billion vs $111.6 billion expected, according to analysts surveyed by Refinitiv</li> </ul> <img src=\"https://static.tigerbbs.com/33b2c00e116cbf6cb68edeaf56f48177\" tg-width=\"847\" tg-height=\"621\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收益：</b>Refinitiv调查的分析师表示，每股6.12美元，预期为8.92美元</li><li><b>收入：</b>根据Refinitiv调查的分析师，预计为1,108.1亿美元，而预期为1,116亿美元</li></ul></blockquote></p><p> Amazon&nbsp;is reckoning with decelerating sales growth as consumers go back to physical stores and the company faces supply chain challenges. Revenue in the third quarter rose 15%, down from 37% growth in the same period a year ago.</p><p><blockquote>随着消费者重返实体店以及该公司面临供应链挑战，亚马逊预计销售增长将放缓。第三季度营收增长15%，低于去年同期37%的增幅。</blockquote></p><p> For the fourth quarter, Amazon forecast sales between $130 billion and $140 billion, representing growth between 4% and 12%. Analysts surveyed by FactSet were expecting revenue to rise 13.2% year-over-year to $142.1 billion.</p><p><blockquote>亚马逊预测第四季度销售额在1300亿美元至1400亿美元之间，增长率在4%至12%之间。FactSet调查的分析师预计营收将同比增长13.2%至1,421亿美元。</blockquote></p><p> Amazon.com Inc&nbsp;on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher wages and spending to attract workers diminish the company's windfall from online shopping.</p><p><blockquote>亚马逊公司周四报告称，由于工资上涨和吸引员工的支出减少了该公司从网上购物中获得的意外之财，预计这种情况将持续到整个假期季度。</blockquote></p><p> After a year of blockbuster results, the world's largest online retailer is facing a tougher outlook. In a tight labor market, it has boosted average U.S. warehouse pay to $18 per hour and marketed ever bigger signing bonuses to attract blue-collar staff it needs to keep its high-turnover operation humming.</p><p><blockquote>在经历了一年的重磅业绩之后，这家全球最大的在线零售商正面临着更加严峻的前景。在劳动力市场紧张的情况下，该公司已将美国仓库的平均工资提高至每小时18美元，并推出更高的签约奖金，以吸引维持其高流动率业务所需的蓝领员工。</blockquote></p><p> The company meanwhile is contending with global supply chain disruptions. It has doubled its container processing ability, expanded its delivery service partner program and has ramped up its warehouse investments - all at a noteworthy cost.</p><p><blockquote>与此同时，该公司正在应对全球供应链中断的问题。它将集装箱处理能力提高了一倍，扩大了送货服务合作伙伴计划，并增加了仓库投资——所有这些都付出了巨大的成本。</blockquote></p><p> The company said it expects operating profit for the current quarter to be between $0 and $3.0 billion, short of $6.9 billion Amazon posted the year prior. In the just-ended third quarter, net income fell by about 50% to $3.16 billion, a first since the start of the coronavirus pandemic in the United States.</p><p><blockquote>该公司表示，预计本季度营业利润将在0至30亿美元之间，低于亚马逊去年公布的69亿美元。在刚刚结束的第三季度，净利润下降了约50%，至31.6亿美元，这是自美国冠状病毒大流行开始以来的首次。</blockquote></p><p> Andy Jassy, who took the helm of Amazon as CEO in July, said in a statement the company would incur several billion dollars of extra expenses in its consumer business to deal with higher shipping costs, increased wages and labor shortages.</p><p><blockquote>7月份接任亚马逊首席执行官的安迪·贾西(Andy Jassy)在一份声明中表示，该公司将在消费者业务上产生数十亿美元的额外支出，以应对运输成本上涨、工资上涨和劳动力短缺。</blockquote></p><p> Amazon is \"doing whatever it takes to minimize the impact on customers and selling partners this holiday season,\" he said. \"It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.\"</p><p><blockquote>他表示，亚马逊正在“尽一切努力将这个假期对客户和销售合作伙伴的影响降至最低”。“短期内这对我们来说会很昂贵，但对于我们的客户和合作伙伴来说，这是正确的优先事项。”</blockquote></p><p> The retailer has strived to prevent a repeat of the 2013 season when delays left some without presents on Christmas Day.</p><p><blockquote>该零售商努力防止2013年的情况重演，当时延误导致一些人在圣诞节没有收到礼物。</blockquote></p><p> Retailers are facing supply constraints on everything from toys and Nike sneakers to laptops, making it difficult for them to stock their shelves.</p><p><blockquote>零售商面临着从玩具、耐克运动鞋到笔记本电脑等各种商品的供应限制，这使得他们很难在货架上备货。</blockquote></p><p> Supply chain woes are also costing Apple Inc&nbsp;- $6 billion in sales during the company's fiscal fourth quarter according to results released on Thursday. Apple Chief Executive Tim Cook said that the impact will be even worse during the holiday sales quarter.</p><p><blockquote>供应链困境也导致苹果公司损失——根据周四发布的业绩，该公司第四财季销售额损失60亿美元。苹果首席执行官Tim Cook表示，在假日销售季度，影响会更严重。</blockquote></p><p> Some analysts like Nicholas Hyett of Hargreaves Lansdown gave Amazon a pass, recognizing the company's track record of high spending to deliver for customers has paid off in the long run.</p><p><blockquote>Hargreaves Lansdown的尼古拉斯·海耶特(Nicholas Hyett)等一些分析师给了亚马逊一个通行证，他们认识到该公司为客户提供服务的高支出记录从长远来看已经得到了回报。</blockquote></p><p> \"Amazon has never been overly focused on the bottom line,\" Hyett said. \"That willingness to invest in what the group hopes will be long term success at the expense of short term profits is on display again in these results.\"</p><p><blockquote>“亚马逊从未过度关注利润，”海耶特说。“这些业绩再次体现了集团愿意以牺牲短期利润为代价投资于长期成功的意愿。”</blockquote></p><p> <b>LABOR SHORTAGE</b></p><p><blockquote><b>劳动力短缺</b></blockquote></p><p> Guru Hariharan, a former Amazon manager who is now CEO of CommerceIQ, said out-of-stocks were at an all time high for the company.</p><p><blockquote>前亚马逊经理、现任CommerceIQ首席执行官古鲁·哈里哈兰(Guru Hariharan)表示，该公司的缺货情况达到了历史最高水平。</blockquote></p><p> \"The online marketplace will need to continue to address fill rates to meet demand before the holiday shopping season,\" he said.</p><p><blockquote>“在线市场需要继续解决填充率问题，以满足假日购物季之前的需求，”他说。</blockquote></p><p> Amazon CFO Brian Olsavsky said on a call with reporters that the labor shortage had been a challenge, leading to inconsistent staffing levels. Workers, not physical space, became its primary capacity constraint in the third quarter, he said.</p><p><blockquote>亚马逊CFO Brian Olsavsky在与记者举行的看涨期权上表示，劳动力短缺一直是一个挑战，导致人员配备水平不一致。他表示，第三季度的主要产能限制是工人，而不是物理空间。</blockquote></p><p> And that has had a ripple effect.</p><p><blockquote>这产生了连锁反应。</blockquote></p><p> \"Inventory placement is frequently redirected to fulfillment centers that have labor to receive this product, which results in less optimal placement, which leads to longer and more expensive transportation routes,\" he said.</p><p><blockquote>他说：“库存放置经常被重定向到有劳动力接收该产品的履行中心，这导致放置不太理想，从而导致运输路线更长、更昂贵。”</blockquote></p><p> Amazon faced an extra $2 billion in costs from labor, inflation and operational disruptions, an amount that is supposed to rise to $4 billion in the current period, Olsavsky said.</p><p><blockquote>奥尔萨夫斯基表示，亚马逊面临着来自劳动力、通货膨胀和运营中断的额外20亿美元成本，预计这一数字在当前时期将升至40亿美元。</blockquote></p><p> Staff are pushing for more, too. Around 2,000 workers in New York City petitioned this week for a vote on whether to make their warehouse the company's first unionized facility in the United States.</p><p><blockquote>员工们也在争取更多。纽约市约2000名工人本周请愿投票，决定是否将他们的仓库作为该公司在美国的第一个工会设施。</blockquote></p><p></p><p> To juice sales, the company began encouraging customers to shop holiday deals as early as Oct. 4 this year. Still, consumers have begun returning to pre-pandemic shopping levels, spending more on travel and services, Olsavsky said.</p><p><blockquote>为了刺激销售，该公司早在今年10月4日就开始鼓励顾客购买假日优惠商品。奥尔萨夫斯基表示，尽管如此，消费者已经开始恢复到大流行前的购物水平，在旅行和服务上花费更多。</blockquote></p><p> The company forecast fourth-quarter sales to be between $130 billion and $140 billion. Analysts were expecting $142.05 billion, according to IBES data from Refinitiv. It missed expectations for third-quarter sales as well, witnessing its slowest growth since the COVID-19 outbreak.</p><p><blockquote>该公司预计第四季度销售额将在1300亿美元至1400亿美元之间。根据Refinitiv的IBES数据，分析师预计为1,420.5亿美元。该公司第三季度销售额也未达到预期，出现自COVID-19爆发以来最慢的增长。</blockquote></p><p> Amazon's cloud computing division was a bright spot. Olsavsky said revenue growth re-accelerated for that business, and the company beat analysts' expectations with net sales of $16.1 billion in the quarter. Amazon Web Services has seen sales rise with demand for gaming and remote work during the pandemic.</p><p><blockquote>亚马逊的云计算部门是一个亮点。Olsavsky表示，该业务的收入增长重新加速，该公司本季度净销售额达到161亿美元，超出了分析师的预期。随着疫情期间对游戏和远程工作的需求，亚马逊网络服务的销售额有所增长。</blockquote></p><p> Total net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier.</p><p><blockquote>截至9月30日的第三季度总净销售额从去年同期的961.5亿美元增至1108.1亿美元。</blockquote></p><p> Analysts had predicted $111.60 billion, according to IBES data from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES数据，分析师此前预测为1116亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon badly misses on earnings and revenue, gives disappointing guidance<blockquote>亚马逊的盈利和收入严重下滑，给出的指引令人失望</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; 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}\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 badly misses on earnings and revenue, gives disappointing guidance<blockquote>亚马逊的盈利和收入严重下滑，给出的指引令人失望</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\">2021-10-29 06:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Amazon&nbsp;shares dropped more than 4% in extended trading on Thursday after the company&nbsp;reported&nbsp;weaker-than-expected results for the third quarter and delivered disappointing guidance for the critical holiday period.</p><p><blockquote>亚马逊股价周四在盘后交易中下跌超过4%，此前该公司公布了弱于预期的第三季度业绩，并为关键假期期间提供了令人失望的指引。</blockquote></p><p> <ul>  <li><b>Earnings:</b>$6.12 vs $8.92 per share expected, according to analysts surveyed by Refinitiv</li>  <li><b>Revenue:</b>$110.81 billion vs $111.6 billion expected, according to analysts surveyed by Refinitiv</li> </ul> <img src=\"https://static.tigerbbs.com/33b2c00e116cbf6cb68edeaf56f48177\" tg-width=\"847\" tg-height=\"621\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收益：</b>Refinitiv调查的分析师表示，每股6.12美元，预期为8.92美元</li><li><b>收入：</b>根据Refinitiv调查的分析师，预计为1,108.1亿美元，而预期为1,116亿美元</li></ul></blockquote></p><p> Amazon&nbsp;is reckoning with decelerating sales growth as consumers go back to physical stores and the company faces supply chain challenges. Revenue in the third quarter rose 15%, down from 37% growth in the same period a year ago.</p><p><blockquote>随着消费者重返实体店以及该公司面临供应链挑战，亚马逊预计销售增长将放缓。第三季度营收增长15%，低于去年同期37%的增幅。</blockquote></p><p> For the fourth quarter, Amazon forecast sales between $130 billion and $140 billion, representing growth between 4% and 12%. Analysts surveyed by FactSet were expecting revenue to rise 13.2% year-over-year to $142.1 billion.</p><p><blockquote>亚马逊预测第四季度销售额在1300亿美元至1400亿美元之间，增长率在4%至12%之间。FactSet调查的分析师预计营收将同比增长13.2%至1,421亿美元。</blockquote></p><p> Amazon.com Inc&nbsp;on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher wages and spending to attract workers diminish the company's windfall from online shopping.</p><p><blockquote>亚马逊公司周四报告称，由于工资上涨和吸引员工的支出减少了该公司从网上购物中获得的意外之财，预计这种情况将持续到整个假期季度。</blockquote></p><p> After a year of blockbuster results, the world's largest online retailer is facing a tougher outlook. In a tight labor market, it has boosted average U.S. warehouse pay to $18 per hour and marketed ever bigger signing bonuses to attract blue-collar staff it needs to keep its high-turnover operation humming.</p><p><blockquote>在经历了一年的重磅业绩之后，这家全球最大的在线零售商正面临着更加严峻的前景。在劳动力市场紧张的情况下，该公司已将美国仓库的平均工资提高至每小时18美元，并推出更高的签约奖金，以吸引维持其高流动率业务所需的蓝领员工。</blockquote></p><p> The company meanwhile is contending with global supply chain disruptions. It has doubled its container processing ability, expanded its delivery service partner program and has ramped up its warehouse investments - all at a noteworthy cost.</p><p><blockquote>与此同时，该公司正在应对全球供应链中断的问题。它将集装箱处理能力提高了一倍，扩大了送货服务合作伙伴计划，并增加了仓库投资——所有这些都付出了巨大的成本。</blockquote></p><p> The company said it expects operating profit for the current quarter to be between $0 and $3.0 billion, short of $6.9 billion Amazon posted the year prior. In the just-ended third quarter, net income fell by about 50% to $3.16 billion, a first since the start of the coronavirus pandemic in the United States.</p><p><blockquote>该公司表示，预计本季度营业利润将在0至30亿美元之间，低于亚马逊去年公布的69亿美元。在刚刚结束的第三季度，净利润下降了约50%，至31.6亿美元，这是自美国冠状病毒大流行开始以来的首次。</blockquote></p><p> Andy Jassy, who took the helm of Amazon as CEO in July, said in a statement the company would incur several billion dollars of extra expenses in its consumer business to deal with higher shipping costs, increased wages and labor shortages.</p><p><blockquote>7月份接任亚马逊首席执行官的安迪·贾西(Andy Jassy)在一份声明中表示，该公司将在消费者业务上产生数十亿美元的额外支出，以应对运输成本上涨、工资上涨和劳动力短缺。</blockquote></p><p> Amazon is \"doing whatever it takes to minimize the impact on customers and selling partners this holiday season,\" he said. \"It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.\"</p><p><blockquote>他表示，亚马逊正在“尽一切努力将这个假期对客户和销售合作伙伴的影响降至最低”。“短期内这对我们来说会很昂贵，但对于我们的客户和合作伙伴来说，这是正确的优先事项。”</blockquote></p><p> The retailer has strived to prevent a repeat of the 2013 season when delays left some without presents on Christmas Day.</p><p><blockquote>该零售商努力防止2013年的情况重演，当时延误导致一些人在圣诞节没有收到礼物。</blockquote></p><p> Retailers are facing supply constraints on everything from toys and Nike sneakers to laptops, making it difficult for them to stock their shelves.</p><p><blockquote>零售商面临着从玩具、耐克运动鞋到笔记本电脑等各种商品的供应限制，这使得他们很难在货架上备货。</blockquote></p><p> Supply chain woes are also costing Apple Inc&nbsp;- $6 billion in sales during the company's fiscal fourth quarter according to results released on Thursday. Apple Chief Executive Tim Cook said that the impact will be even worse during the holiday sales quarter.</p><p><blockquote>供应链困境也导致苹果公司损失——根据周四发布的业绩，该公司第四财季销售额损失60亿美元。苹果首席执行官Tim Cook表示，在假日销售季度，影响会更严重。</blockquote></p><p> Some analysts like Nicholas Hyett of Hargreaves Lansdown gave Amazon a pass, recognizing the company's track record of high spending to deliver for customers has paid off in the long run.</p><p><blockquote>Hargreaves Lansdown的尼古拉斯·海耶特(Nicholas Hyett)等一些分析师给了亚马逊一个通行证，他们认识到该公司为客户提供服务的高支出记录从长远来看已经得到了回报。</blockquote></p><p> \"Amazon has never been overly focused on the bottom line,\" Hyett said. \"That willingness to invest in what the group hopes will be long term success at the expense of short term profits is on display again in these results.\"</p><p><blockquote>“亚马逊从未过度关注利润，”海耶特说。“这些业绩再次体现了集团愿意以牺牲短期利润为代价投资于长期成功的意愿。”</blockquote></p><p> <b>LABOR SHORTAGE</b></p><p><blockquote><b>劳动力短缺</b></blockquote></p><p> Guru Hariharan, a former Amazon manager who is now CEO of CommerceIQ, said out-of-stocks were at an all time high for the company.</p><p><blockquote>前亚马逊经理、现任CommerceIQ首席执行官古鲁·哈里哈兰(Guru Hariharan)表示，该公司的缺货情况达到了历史最高水平。</blockquote></p><p> \"The online marketplace will need to continue to address fill rates to meet demand before the holiday shopping season,\" he said.</p><p><blockquote>“在线市场需要继续解决填充率问题，以满足假日购物季之前的需求，”他说。</blockquote></p><p> Amazon CFO Brian Olsavsky said on a call with reporters that the labor shortage had been a challenge, leading to inconsistent staffing levels. Workers, not physical space, became its primary capacity constraint in the third quarter, he said.</p><p><blockquote>亚马逊CFO Brian Olsavsky在与记者举行的看涨期权上表示，劳动力短缺一直是一个挑战，导致人员配备水平不一致。他表示，第三季度的主要产能限制是工人，而不是物理空间。</blockquote></p><p> And that has had a ripple effect.</p><p><blockquote>这产生了连锁反应。</blockquote></p><p> \"Inventory placement is frequently redirected to fulfillment centers that have labor to receive this product, which results in less optimal placement, which leads to longer and more expensive transportation routes,\" he said.</p><p><blockquote>他说：“库存放置经常被重定向到有劳动力接收该产品的履行中心，这导致放置不太理想，从而导致运输路线更长、更昂贵。”</blockquote></p><p> Amazon faced an extra $2 billion in costs from labor, inflation and operational disruptions, an amount that is supposed to rise to $4 billion in the current period, Olsavsky said.</p><p><blockquote>奥尔萨夫斯基表示，亚马逊面临着来自劳动力、通货膨胀和运营中断的额外20亿美元成本，预计这一数字在当前时期将升至40亿美元。</blockquote></p><p> Staff are pushing for more, too. Around 2,000 workers in New York City petitioned this week for a vote on whether to make their warehouse the company's first unionized facility in the United States.</p><p><blockquote>员工们也在争取更多。纽约市约2000名工人本周请愿投票，决定是否将他们的仓库作为该公司在美国的第一个工会设施。</blockquote></p><p></p><p> To juice sales, the company began encouraging customers to shop holiday deals as early as Oct. 4 this year. Still, consumers have begun returning to pre-pandemic shopping levels, spending more on travel and services, Olsavsky said.</p><p><blockquote>为了刺激销售，该公司早在今年10月4日就开始鼓励顾客购买假日优惠商品。奥尔萨夫斯基表示，尽管如此，消费者已经开始恢复到大流行前的购物水平，在旅行和服务上花费更多。</blockquote></p><p> The company forecast fourth-quarter sales to be between $130 billion and $140 billion. Analysts were expecting $142.05 billion, according to IBES data from Refinitiv. It missed expectations for third-quarter sales as well, witnessing its slowest growth since the COVID-19 outbreak.</p><p><blockquote>该公司预计第四季度销售额将在1300亿美元至1400亿美元之间。根据Refinitiv的IBES数据，分析师预计为1,420.5亿美元。该公司第三季度销售额也未达到预期，出现自COVID-19爆发以来最慢的增长。</blockquote></p><p> Amazon's cloud computing division was a bright spot. Olsavsky said revenue growth re-accelerated for that business, and the company beat analysts' expectations with net sales of $16.1 billion in the quarter. Amazon Web Services has seen sales rise with demand for gaming and remote work during the pandemic.</p><p><blockquote>亚马逊的云计算部门是一个亮点。Olsavsky表示，该业务的收入增长重新加速，该公司本季度净销售额达到161亿美元，超出了分析师的预期。随着疫情期间对游戏和远程工作的需求，亚马逊网络服务的销售额有所增长。</blockquote></p><p> Total net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier.</p><p><blockquote>截至9月30日的第三季度总净销售额从去年同期的961.5亿美元增至1108.1亿美元。</blockquote></p><p> Analysts had predicted $111.60 billion, according to IBES data from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES数据，分析师此前预测为1116亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197599551","content_text":"Amazon shares dropped more than 4% in extended trading on Thursday after the company reported weaker-than-expected results for the third quarter and delivered disappointing guidance for the critical holiday period.\n\nEarnings:$6.12 vs $8.92 per share expected, according to analysts surveyed by Refinitiv\nRevenue:$110.81 billion vs $111.6 billion expected, according to analysts surveyed by Refinitiv\n\n\nAmazon is reckoning with decelerating sales growth as consumers go back to physical stores and the company faces supply chain challenges. Revenue in the third quarter rose 15%, down from 37% growth in the same period a year ago.\nFor the fourth quarter, Amazon forecast sales between $130 billion and $140 billion, representing growth between 4% and 12%. Analysts surveyed by FactSet were expecting revenue to rise 13.2% year-over-year to $142.1 billion.\nAmazon.com Inc on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher wages and spending to attract workers diminish the company's windfall from online shopping.\nAfter a year of blockbuster results, the world's largest online retailer is facing a tougher outlook. In a tight labor market, it has boosted average U.S. warehouse pay to $18 per hour and marketed ever bigger signing bonuses to attract blue-collar staff it needs to keep its high-turnover operation humming.\nThe company meanwhile is contending with global supply chain disruptions. It has doubled its container processing ability, expanded its delivery service partner program and has ramped up its warehouse investments - all at a noteworthy cost.\nThe company said it expects operating profit for the current quarter to be between $0 and $3.0 billion, short of $6.9 billion Amazon posted the year prior. In the just-ended third quarter, net income fell by about 50% to $3.16 billion, a first since the start of the coronavirus pandemic in the United States.\nAndy Jassy, who took the helm of Amazon as CEO in July, said in a statement the company would incur several billion dollars of extra expenses in its consumer business to deal with higher shipping costs, increased wages and labor shortages.\nAmazon is \"doing whatever it takes to minimize the impact on customers and selling partners this holiday season,\" he said. \"It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.\"\nThe retailer has strived to prevent a repeat of the 2013 season when delays left some without presents on Christmas Day.\nRetailers are facing supply constraints on everything from toys and Nike sneakers to laptops, making it difficult for them to stock their shelves.\nSupply chain woes are also costing Apple Inc - $6 billion in sales during the company's fiscal fourth quarter according to results released on Thursday. Apple Chief Executive Tim Cook said that the impact will be even worse during the holiday sales quarter.\nSome analysts like Nicholas Hyett of Hargreaves Lansdown gave Amazon a pass, recognizing the company's track record of high spending to deliver for customers has paid off in the long run.\n\"Amazon has never been overly focused on the bottom line,\" Hyett said. \"That willingness to invest in what the group hopes will be long term success at the expense of short term profits is on display again in these results.\"\nLABOR SHORTAGE\nGuru Hariharan, a former Amazon manager who is now CEO of CommerceIQ, said out-of-stocks were at an all time high for the company.\n\"The online marketplace will need to continue to address fill rates to meet demand before the holiday shopping season,\" he said.\nAmazon CFO Brian Olsavsky said on a call with reporters that the labor shortage had been a challenge, leading to inconsistent staffing levels. Workers, not physical space, became its primary capacity constraint in the third quarter, he said.\nAnd that has had a ripple effect.\n\"Inventory placement is frequently redirected to fulfillment centers that have labor to receive this product, which results in less optimal placement, which leads to longer and more expensive transportation routes,\" he said.\nAmazon faced an extra $2 billion in costs from labor, inflation and operational disruptions, an amount that is supposed to rise to $4 billion in the current period, Olsavsky said.\nStaff are pushing for more, too. Around 2,000 workers in New York City petitioned this week for a vote on whether to make their warehouse the company's first unionized facility in the United States.\nTo juice sales, the company began encouraging customers to shop holiday deals as early as Oct. 4 this year. Still, consumers have begun returning to pre-pandemic shopping levels, spending more on travel and services, Olsavsky said.\nThe company forecast fourth-quarter sales to be between $130 billion and $140 billion. Analysts were expecting $142.05 billion, according to IBES data from Refinitiv. It missed expectations for third-quarter sales as well, witnessing its slowest growth since the COVID-19 outbreak.\nAmazon's cloud computing division was a bright spot. Olsavsky said revenue growth re-accelerated for that business, and the company beat analysts' expectations with net sales of $16.1 billion in the quarter. Amazon Web Services has seen sales rise with demand for gaming and remote work during the pandemic.\nTotal net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier.\nAnalysts had predicted $111.60 billion, according to IBES data from Refinitiv.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":4561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822087763,"gmtCreate":1634079806578,"gmtModify":1634079873031,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Pls like","listText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Pls like","text":"[Smile] //@Alexngo:Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/822087763","repostId":"1199866742","repostType":4,"isVote":1,"tweetType":1,"viewCount":3214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822087696,"gmtCreate":1634079758693,"gmtModify":1634079869840,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/822087696","repostId":"1160581040","repostType":4,"repost":{"id":"1160581040","kind":"news","pubTimestamp":1634042129,"share":"https://www.laohu8.com/m/news/1160581040?lang=zh_CN&edition=full","pubTime":"2021-10-12 20:35","market":"us","language":"en","title":"Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160581040","media":"Barrons","summary":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to ","content":"<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Another Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnother Earnings Season Is Here. What to Expect This Time.<blockquote>又一个财报季到了。这次会发生什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-10-12 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.</p><p><blockquote>财报季将于本周拉开帷幕，股市可能需要一些异常令人印象深刻的业绩才能在财报季之后上涨。</blockquote></p><p> Reports from&nbsp;S&amp;P 500&nbsp;companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from&nbsp;Delta Air Lines&nbsp;(DAL),<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>&nbsp;(WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase &amp; Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.</p><p><blockquote>标准普尔500指数公司的报告源源不断——截至周一，该指数中只有21家公司发布了报告——但本周标志着所谓的财报季的开始。投资者将听取达美航空（DAL）的意见，<a href=\"https://laohu8.com/S/WBA\">沃尔格林靴子联盟</a>(WBA)、联合健康集团(UNH)、银行业巨头摩根大通(JPM)、美国银行(BAC)。它将提供2021年第三季度企业表现的视图，并提供未来几个季度的一瞥。</blockquote></p><p> Analysts are forecasting aggregate earnings per share on the S&amp;P 500 to grow 24.5%, according to S&amp;P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&amp;P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.</p><p><blockquote>根据标准普尔全球市场情报，分析师预测标普500的每股收益总额将增长24.5%。由于去年第三季度仍受到部分封锁的破坏，一些对经济最敏感的行业仍预计每股收益将出现最大反弹。标普500工业和材料公司预计将分别同比增长73%和90%，能源公司预计将扭亏为盈。增长最慢的两个行业将是传统上不波动且高度稳定的必需消费品和公用事业行业，预计每股收益将分别增长3%和下降2.9%。</blockquote></p><p> No matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&amp;P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&amp;P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.</p><p><blockquote>无论预测的增长如何，公司都需要公布大幅超出预期的盈利才能使其股价大幅上涨。标普500今年已经上涨了17.9%，因为企业受益于Covid-19关闭后前所未有的重新开放和数万亿美元的财政刺激。因此，估值已经反映了大量的盈利流，标普500股票的平均交易价格约为12个月预期盈利预期的20.5倍，高于十几岁左右的长期平均水平。DataTrek联合创始人尼古拉斯·科拉斯(Nicholas Colas)写道，为了让市场达到这些估值，该指数需要超出预期至少10%才能在年底前反弹。</blockquote></p><p> That won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.</p><p><blockquote>那可不容易。例如，耐克(NKE)和联邦快递(FDX)公布的业绩好坏参半，因为供应链限制和成本上升侵蚀了销售额和利润率，导致股价在财报发布后的交易日分别下跌6%和9%。早期记者的盈利超出预期的规模也在缩小。到目前为止，早期记者的盈利预期仅高出4%，远低于2020年和2021年第二季度的23.2%和15.5%。</blockquote></p><p> “We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.</p><p><blockquote>瑞士信贷首席美国股票策略师乔纳森·戈卢布写道：“我们认为，经济逆风将削弱定价能力和运营杠杆带来的好处，导致第三季度的意外情况不那么强劲。”</blockquote></p><p> Earnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.</p><p><blockquote>盈利预测已开始反映这些不利因素。自9月初以来，第三季度预测下降了约0.8%。这可能看起来不多，但如果企业表示他们预计获得供应会更加困难，并且成本持续上升，分析师可能会下调2022年的预期。雷蒙德·詹姆斯(Raymond James)机构股票策略师塔维斯·麦考特(Tavis McCourt)写道：“这标志着复苏中第一个明显存在盈利风险的财报季。”</blockquote></p><p> The good news? The S&amp;P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.</p><p><blockquote>好消息是什么？标普500较9月2日的历史高点下跌了3.8%，因此一些盈利风险有可能已经反映在市场上。</blockquote></p><p> The question is whether it’s enough.</p><p><blockquote>问题是这是否足够。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/stock-market-earnings-season-preview-51633995452?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160581040","content_text":"Earnings season kicks off this week—and it may take some unusually impressive results for stocks to rise after them.\nReports from S&P 500 companies have been trickling in—only 21 companies in the index had reported through Monday—but this week marks the beginning of what is known as earnings season. Investors will hear from Delta Air Lines (DAL),Walgreens Boots Alliance (WBA), and UnitedHealth Group (UNH), plus, banking heavyweights JPMorgan Chase & Co. (JPM), Bank of America(BAC). It will provide a view of how businesses performed during the third quarter of 2021, and offer a glimpse into coming quarters as well.\nAnalysts are forecasting aggregate earnings per share on the S&P 500 to grow 24.5%, according to S&P Global Market Intelligence. Some of the most economically sensitive sectors are still expecting the largest rebound in EPS, as last year’s third quarter was still ravaged by partial lockdowns. S&P 500 industrial and material companies are expected to see 73% and 90% year-over-year growth, respectively, with energy expected to go from losses to profits. Two of the slowest growing sectors will be the traditionally non-volatile and highly stable consumer staples and utility sectors, expected to see EPS grow 3% and fall 2.9%, respectively.\nNo matter the predicted growth, companies need to post big earnings beats in order for their shares to gain much. The S&P 500 has already risen 17.9% this year, as companies benefited from the unprecedented reopening following Covid-19 shutdowns and trillions of dollars of fiscal stimulus. As a result, valuations already reflect a large earnings stream, with the average S&P 500 stock trading at around 20.5 times 12-month forward earnings estimates, above the long-term average in the mid-teens. For the market to live up to those valuations, the index needs to beat expectations by at least 10% in order to rally into year-end, writes Nicholas Colas, co-founder of DataTrek.\nThat won’t be easy. Nike (NKE) and FedEx (FDX), for example, posted mixed results as supply chain constraints and rising costs ate into sales and profit margins, causing the stocks to fall 6% and 9%, respectively, the trading day after their earnings reports. The size of earnings beats from early reporters has been shrinking as well. So far, early reporters have topped earnings forecasts by just 4%, well below the 23.2% and 15.5% during the second quarter in 2020 and 2021.\n“We believe that economic headwinds will mitigate the benefits from pricing power and operating leverage, leading to less robust surprises in the third quarter,” writes Jonathan Golub, chief U.S. equity strategist at Credit Suisse.\nEarnings estimates have begun to reflect those headwinds. Third-quarter forecasts have fallen about 0.8% since the beginning of September. That may not seem like much, but if companies say they expect more difficulty accessing supplies and that higher costs are persisting, analysts could revise 2022 estimates lower. “This sets up the first earnings season in the recovery where earnings risk clearly exists,” writes Tavis McCourt, institutional equity strategist at Raymond James.\nThe good news? The S&P 500 is down 3.8% from its Sept. 2 all-time high, so there’s a chance that some of the earnings risks are already reflected in the market.\nThe question is whether it’s enough.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":4978,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822084759,"gmtCreate":1634079711282,"gmtModify":1634079711757,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/822084759","repostId":"828822632","repostType":1,"isVote":1,"tweetType":1,"viewCount":2948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829779610,"gmtCreate":1633562300314,"gmtModify":1633562300544,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Hope everyday rises 😁","listText":"[Smile]&nbsp;[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Hope everyday rises 😁","text":"[Smile] [Smile] //@Alexngo:Hope everyday rises 😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829779610","repostId":"1101968131","repostType":4,"isVote":1,"tweetType":1,"viewCount":3319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862804080,"gmtCreate":1632864675693,"gmtModify":1632864675766,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","listText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","text":"[Great] //@股惑仔79:[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/862804080","repostId":"2170624172","repostType":4,"isVote":1,"tweetType":1,"viewCount":4347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":887573541,"gmtCreate":1632088405683,"gmtModify":1632803015916,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","listText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","text":"[Smile] //@股惑仔79:[Great]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887573541","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.收购面向千禧一代和Z世代消费者的数字化时尚品牌，从2018年收购Princess Polly开始。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.收购面向千禧一代和Z世代消费者的数字化时尚品牌，从2018年收购Princess Polly开始。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将在2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</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":{"TOST":"Toast, Inc.","STER":"Sterling Check Corp.","RELY":"Remitly Global, Inc.","SOVO":"Sovos Brands, Inc.","BRLT":"Brilliant Earth Group, Inc.","ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","AKA":"a.k.a. Brands Holding Corp.","THRN":"Thorne Healthtech","HLTH":"Cue Health Inc.","ESMT":"EngageSmart Inc.","CWAN":"Clearwater Analytics Holdings, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"THRN":0.9,"TOST":0.9,"SOVO":0.9,"FRSH":0.9,"KDC":0.9,"ESMT":0.9,"BRLT":0.9,"AKA":0.9,"ARBK":0.9,"HLTH":0.9,"STER":0.9,"RELY":0.9,"CWAN":0.9}},"isVote":1,"tweetType":1,"viewCount":1017,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":887579846,"gmtCreate":1632088243385,"gmtModify":1632803016638,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","listText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","text":"[Great] //@股惑仔79:[Great]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887579846","repostId":"1198486138","repostType":4,"isVote":1,"tweetType":1,"viewCount":1262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":884583029,"gmtCreate":1631919146761,"gmtModify":1632805415359,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Like pls","listText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Like pls","text":"[Smile] //@Alexngo:Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/884583029","repostId":"1105376345","repostType":4,"repost":{"id":"1105376345","kind":"news","pubTimestamp":1631833833,"share":"https://www.laohu8.com/m/news/1105376345?lang=zh_CN&edition=full","pubTime":"2021-09-17 07:10","market":"us","language":"en","title":"S&P ends modestly lower as rising Treasury yields offset robust retail data<blockquote>美国国债收益率上升抵消了强劲的零售数据，标普小幅收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105376345","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 ended slightly down on Thursday, paring losses in late trading afte","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 ended slightly down on Thursday, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.</p><p><blockquote>路透纽约7月20日电——标普500周四小幅收跌，尾盘收窄跌幅，此前意外强劲的零售销售数据突显美国经济复苏的力度。</blockquote></p><p> The three major indexes spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.</p><p><blockquote>由于美国国债收益率上升给市场领先的科技股带来压力，以及美元上涨给出口商带来压力，三大股指当天大部分时间都处于负值区域。</blockquote></p><p> Amazon.com Inc, buoyed by solid online sales in the Commerce Department’s report, helped push the Nasdaq into positive territory.</p><p><blockquote>亚马逊公司受到商务部报告中强劲的在线销售的提振，帮助推动纳斯达克进入积极区域。</blockquote></p><p> “Looking at today, clearly we had positive news from retail sales and it looks as if the massive slowdown in the economy is not materializing as a lot of people expected,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p><p><blockquote>北卡罗来纳州夏洛特LPL Financial高级市场策略师瑞安·德特里克(Ryan Detrick)表示：“从今天来看，显然我们收到了来自零售销售的积极消息，而且经济大幅放缓似乎并没有像许多人预期的那样成为现实。”</blockquote></p><p> “It’s a nice reminder that the economy is still taking two steps forward for each step back even amid the COVID concerns,” Detrick added.</p><p><blockquote>德特里克补充道：“这是一个很好的提醒，即使在新冠疫情担忧的情况下，经济仍然每后退一步就向前迈出两步。”</blockquote></p><p> Economically sensitive transports and microchips were among the outperformers.</p><p><blockquote>对经济敏感的运输和微芯片是表现优异的股票之一。</blockquote></p><p> Data released before the opening bell showed an unexpected bump in retail sales as shoppers weathered Hurricane Ida and the COVID Delta variant, evidence of resilience in the consumer, who contributes about 70% to U.S. economic growth.</p><p><blockquote>开盘前公布的数据显示，随着购物者经受住了飓风艾达和新冠德尔塔变异毒株，零售额意外增长，这证明了消费者的韧性，消费者对美国经济增长的贡献约为70%。</blockquote></p><p> “Once again, it shows the U.S. consumer continues to spend and continues to help this economy grow,” Detrick said.</p><p><blockquote>德特里克表示：“这再次表明美国消费者继续支出并继续帮助经济增长。”</blockquote></p><p> The Dow Jones Industrial Average fell 63.07 points, or 0.18%, to 34,751.32; the S&amp;P 500 lost 6.95 points, or 0.16%, at 4,473.75; and the Nasdaq Composite added 20.40 points, or 0.13%, at 15,181.92.</p><p><blockquote>道琼工业指数跌63.07点，或0.18%，报34751.32点；标普500下跌6.95点，跌幅0.16%，报4,473.75点；纳斯达克综合指数上涨20.40点，即0.13%，至15,181.92点。</blockquote></p><p> Eight of the 11 major sectors in the S&amp;P 500 ended lower, with materials suffering the largest percentage drop.</p><p><blockquote>标普500 11大板块中有8个板块收跌，材料板块跌幅最大。</blockquote></p><p> The consumer discretionary spending sector posted the biggest gain, with Amazon.com doing the heavy lifting.</p><p><blockquote>非必需消费品支出板块涨幅最大，亚马逊首当其冲。</blockquote></p><p> Apparel company Gap Inc gained 1.6%. Online marketplace Etsy Inc and luxury accessory company Tapestry Inc rose 3.1% and 1.9%, respectively.</p><p><blockquote>服装公司Gap Inc上涨1.6%。在线市场Etsy Inc和奢侈品配饰公司Tapestry Inc分别上涨3.1%和1.9%。</blockquote></p><p> Ford Motor Co rose 1.4% after it announced plans to boost production of its F-150 electric pickup model.</p><p><blockquote>福特汽车公司股价上涨1.4%，此前该公司宣布计划提高F-150电动皮卡车型的产量。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.27比1；在纳斯达克，1.06比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted nine new 52-week highs and one new low; the Nasdaq Composite recorded 82 new highs and 94 new lows.</p><p><blockquote>标普500创下9个52周新高和1个新低；纳斯达克综合指数录得82个新高和94个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.37 billion shares, compared with the 9.44 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为93.7亿股，而过去20个交易日的平均成交量为94.4亿股。</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>S&P ends modestly lower as rising Treasury yields offset robust retail data<blockquote>美国国债收益率上升抵消了强劲的零售数据，标普小幅收低</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; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P ends modestly lower as rising Treasury yields offset robust retail data<blockquote>美国国债收益率上升抵消了强劲的零售数据，标普小幅收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-09-17 07:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 ended slightly down on Thursday, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.</p><p><blockquote>路透纽约7月20日电——标普500周四小幅收跌，尾盘收窄跌幅，此前意外强劲的零售销售数据突显美国经济复苏的力度。</blockquote></p><p> The three major indexes spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.</p><p><blockquote>由于美国国债收益率上升给市场领先的科技股带来压力，以及美元上涨给出口商带来压力，三大股指当天大部分时间都处于负值区域。</blockquote></p><p> Amazon.com Inc, buoyed by solid online sales in the Commerce Department’s report, helped push the Nasdaq into positive territory.</p><p><blockquote>亚马逊公司受到商务部报告中强劲的在线销售的提振，帮助推动纳斯达克进入积极区域。</blockquote></p><p> “Looking at today, clearly we had positive news from retail sales and it looks as if the massive slowdown in the economy is not materializing as a lot of people expected,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.</p><p><blockquote>北卡罗来纳州夏洛特LPL Financial高级市场策略师瑞安·德特里克(Ryan Detrick)表示：“从今天来看，显然我们收到了来自零售销售的积极消息，而且经济大幅放缓似乎并没有像许多人预期的那样成为现实。”</blockquote></p><p> “It’s a nice reminder that the economy is still taking two steps forward for each step back even amid the COVID concerns,” Detrick added.</p><p><blockquote>德特里克补充道：“这是一个很好的提醒，即使在新冠疫情担忧的情况下，经济仍然每后退一步就向前迈出两步。”</blockquote></p><p> Economically sensitive transports and microchips were among the outperformers.</p><p><blockquote>对经济敏感的运输和微芯片是表现优异的股票之一。</blockquote></p><p> Data released before the opening bell showed an unexpected bump in retail sales as shoppers weathered Hurricane Ida and the COVID Delta variant, evidence of resilience in the consumer, who contributes about 70% to U.S. economic growth.</p><p><blockquote>开盘前公布的数据显示，随着购物者经受住了飓风艾达和新冠德尔塔变异毒株，零售额意外增长，这证明了消费者的韧性，消费者对美国经济增长的贡献约为70%。</blockquote></p><p> “Once again, it shows the U.S. consumer continues to spend and continues to help this economy grow,” Detrick said.</p><p><blockquote>德特里克表示：“这再次表明美国消费者继续支出并继续帮助经济增长。”</blockquote></p><p> The Dow Jones Industrial Average fell 63.07 points, or 0.18%, to 34,751.32; the S&amp;P 500 lost 6.95 points, or 0.16%, at 4,473.75; and the Nasdaq Composite added 20.40 points, or 0.13%, at 15,181.92.</p><p><blockquote>道琼工业指数跌63.07点，或0.18%，报34751.32点；标普500下跌6.95点，跌幅0.16%，报4,473.75点；纳斯达克综合指数上涨20.40点，即0.13%，至15,181.92点。</blockquote></p><p> Eight of the 11 major sectors in the S&amp;P 500 ended lower, with materials suffering the largest percentage drop.</p><p><blockquote>标普500 11大板块中有8个板块收跌，材料板块跌幅最大。</blockquote></p><p> The consumer discretionary spending sector posted the biggest gain, with Amazon.com doing the heavy lifting.</p><p><blockquote>非必需消费品支出板块涨幅最大，亚马逊首当其冲。</blockquote></p><p> Apparel company Gap Inc gained 1.6%. Online marketplace Etsy Inc and luxury accessory company Tapestry Inc rose 3.1% and 1.9%, respectively.</p><p><blockquote>服装公司Gap Inc上涨1.6%。在线市场Etsy Inc和奢侈品配饰公司Tapestry Inc分别上涨3.1%和1.9%。</blockquote></p><p> Ford Motor Co rose 1.4% after it announced plans to boost production of its F-150 electric pickup model.</p><p><blockquote>福特汽车公司股价上涨1.4%，此前该公司宣布计划提高F-150电动皮卡车型的产量。</blockquote></p><p> Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.27比1；在纳斯达克，1.06比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted nine new 52-week highs and one new low; the Nasdaq Composite recorded 82 new highs and 94 new lows.</p><p><blockquote>标普500创下9个52周新高和1个新低；纳斯达克综合指数录得82个新高和94个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.37 billion shares, compared with the 9.44 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为93.7亿股，而过去20个交易日的平均成交量为94.4亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-ends-modestly-lower-as-rising-treasury-yields-offset-robust-retail-data-idUSL1N2QI2MB\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-ends-modestly-lower-as-rising-treasury-yields-offset-robust-retail-data-idUSL1N2QI2MB","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105376345","content_text":"NEW YORK (Reuters) - The S&P 500 ended slightly down on Thursday, paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.\nThe three major indexes spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.\nAmazon.com Inc, buoyed by solid online sales in the Commerce Department’s report, helped push the Nasdaq into positive territory.\n“Looking at today, clearly we had positive news from retail sales and it looks as if the massive slowdown in the economy is not materializing as a lot of people expected,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.\n“It’s a nice reminder that the economy is still taking two steps forward for each step back even amid the COVID concerns,” Detrick added.\nEconomically sensitive transports and microchips were among the outperformers.\nData released before the opening bell showed an unexpected bump in retail sales as shoppers weathered Hurricane Ida and the COVID Delta variant, evidence of resilience in the consumer, who contributes about 70% to U.S. economic growth.\n“Once again, it shows the U.S. consumer continues to spend and continues to help this economy grow,” Detrick said.\nThe Dow Jones Industrial Average fell 63.07 points, or 0.18%, to 34,751.32; the S&P 500 lost 6.95 points, or 0.16%, at 4,473.75; and the Nasdaq Composite added 20.40 points, or 0.13%, at 15,181.92.\nEight of the 11 major sectors in the S&P 500 ended lower, with materials suffering the largest percentage drop.\nThe consumer discretionary spending sector posted the biggest gain, with Amazon.com doing the heavy lifting.\nApparel company Gap Inc gained 1.6%. Online marketplace Etsy Inc and luxury accessory company Tapestry Inc rose 3.1% and 1.9%, respectively.\nFord Motor Co rose 1.4% after it announced plans to boost production of its F-150 electric pickup model.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.\nThe S&P 500 posted nine new 52-week highs and one new low; the Nasdaq Composite recorded 82 new highs and 94 new lows.\nVolume on U.S. exchanges was 9.37 billion shares, compared with the 9.44 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":601,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881131372,"gmtCreate":1631315461596,"gmtModify":1631886841428,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","listText":"[Smile]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[Great]&nbsp;","text":"[Smile] //@股惑仔79:[Great]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/881131372","repostId":"1108076835","repostType":4,"repost":{"id":"1108076835","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":1631260909,"share":"https://www.laohu8.com/m/news/1108076835?lang=zh_CN&edition=full","pubTime":"2021-09-10 16:01","market":"us","language":"en","title":"UP Fintech Reports More Than 60% of Newly Funded Accounts Acquired From International Markets<blockquote>老虎证券报告称，超过60%的新资金账户是从国际市场获得的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108076835","media":"Tiger Newspress","summary":"$Leading$ online brokerage firm, UP Fintech Holding Limited  , today reported revenues of US$60.2 million for the second quarter ended June 30, 2021 compared to revenue of US$30.3 million in the second quarter of 2020. Notably, more than 60% of the Company’s newly funded accounts were derived from international markets in the quarter. Growth was driven by enhanced platform capabilities and rising demand for convenient access to global brokerage services.UP Fintech Holding Limited Reports Unaudit","content":"<p><a href=\"https://laohu8.com/S/LBIX\">Leading</a> online brokerage firm, UP Fintech Holding Limited (<a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>: TIGR) (“UP Fintech” or the “Company”), today reported revenues of US$60.2 million for the second quarter ended June 30, 2021 compared to revenue of US$30.3 million in the second quarter of 2020. Notably, more than 60% of the Company’s newly funded accounts were derived from international markets in the quarter. Growth was driven by enhanced platform capabilities and rising demand for convenient access to global brokerage services.</p><p><blockquote><a href=\"https://laohu8.com/S/LBIX\">领先的</a>网上经纪行、老虎证券控股有限公司(<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>：TIGR）（“老虎证券”或“公司”）今天公布截至2021年6月30日的第二季度收入为6020万美元，而2020年第二季度的收入为3030万美元。值得注意的是，该公司本季度超过60%的新增资金账户来自国际市场。增长是由增强的平台功能和对便捷获取全球经纪服务的需求不断增长推动的。</blockquote></p><p> <a href=\"https://ir.itiger.com/news-releases/news-release-details/fintech-holding-limited-reports-unaudited-second-quarter-2021\" target=\"_blank\"><b>UP Fintech Holding Limited Reports Unaudited Second Quarter 2021 Financial Results</b></a></p><p><blockquote><a href=\"https://ir.itiger.com/news-releases/news-release-details/fintech-holding-limited-reports-unaudited-second-quarter-2021\" target=\"_blank\"><b>老虎证券控股有限公司报告未经审计的2021年第二季度财务业绩</b></a></blockquote></p><p> “We maintained our solid business momentum with a high client retention rate and increased operational synergies, ”commented Mr. Wu Tianhua, founder and CEO of UP Fintech. “I am confident in the positive outlook for our Company and our industry. Our singular focus is to employ technology to make investing more efficient and we are committed to increasing the breadth and diversity of our product offerings, as well as leveraging our leading position in underwriting and ESOP (Employee Share Ownership Plans) to attract new clients.”</p><p><blockquote>老虎证券创始人兼首席执行官巫天华先生评论道：“我们保持了稳健的业务势头，客户保留率高，运营协同效应增强。”“我对我们公司和行业的积极前景充满信心。我们的唯一重点是利用技术提高投资效率，我们致力于增加产品的广度和多样性，并利用我们在承保和ESOP（员工持股计划）方面的领先地位来吸引新客户。”</blockquote></p><p> During the second quarter, the total number of funded accounts increased to 529,100. The Company added more funded accounts in the first six months of 2021 than it did in its entire cumulative operating history. The total account balance increased 188.9% year-over-year to US$23.9 billion as the Company continued to attract new clients from multiple international markets. In Singapore, UP Fintech’s local subsidiary, <a href=\"https://laohu8.com/S/TIGR\">Tiger Brokers</a> (Singapore) Pte. Ltd., launched new products and in-APP functions such as an industry heatmap, Mini USD/CNH futures, and OSE futures, supplementing the wide range of analytical tools and securities trading functions available on the Company’s platform.</p><p><blockquote>第二季度，资金账户总数增至52.91万个。该公司在2021年前六个月增加的资金账户数量超过了其整个累计运营历史。随着公司继续吸引来自多个国际市场的新客户，账户余额总额同比增长188.9%至239亿美元。在新加坡，老虎证券当地的子公司，<a href=\"https://laohu8.com/S/TIGR\">老虎证券</a>（新加坡）私人有限公司。有限公司推出了新产品和应用内功能，如行业热图、迷你美元/离岸人民币期货和OSE期货，补充了公司平台上广泛的分析工具和证券交易功能。</blockquote></p><p> The Company also recently announced that it has received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited (CDP), and a trading member of Singapore Exchange Securities Trading Limited (SGX) and Singapore Exchange Derivatives Trading Limited. These partnerships aim to improve the user experience and further strengthen the Company’s presence in the Singaporean market.</p><p><blockquote>该公司最近还宣布，已获得原则批准成为中央存管（私人）有限公司（CDP）的结算会员，以及新加坡证券交易所交易有限公司（SGX）和新加坡交易所衍生品交易有限公司的交易会员。这些合作伙伴关系旨在改善用户体验，并进一步加强公司在新加坡市场的影响力。</blockquote></p><p> The Company’s ESOP business continued to exhibit healthy growth with 51 new clients, up from 41 new clients in the previous quarter；ESOP adoption is accelerating and in the first six months of 2021 the Company added more new clients than it did in all of 2020. The Company is a leader in providing extensive expertise and guidance for start-ups at every stage of their ESOP from initial establishment through to execution and reporting. In addition, the Company is now offering its ESOP service to A-Share companies, further expanding its prospective client base.</p><p><blockquote>该公司的员工持股计划业务继续保持健康增长，新增客户51家，高于上一季度的41家；员工持股计划的采用正在加速，2021年前六个月，该公司增加的新客户比2020年全年都多。该公司是一家领先的公司，在员工持股计划的每个阶段为初创企业提供广泛的专业知识和指导，从最初建立到执行和报告。此外，本公司现正向A股公司提供员工持股计划服务，进一步扩大其潜在客户群。</blockquote></p><p> The Company served as an underwriter or member of the selling group in 17 IPOs, and in total provided subscriptions to 29 IPOs, including several high profile Hong Kong IPOs such as those of Angelalign (HK:6699) and Nayuki (HK:2150). In addition, The Company completed its own follow-on offering of 6.5 million <a href=\"https://laohu8.com/S/AFG\">American</a> Depository Shares in the second quarter and even&nbsp;offered retail investors the opportunity to subscribe through its flagship mobile trading APP, Tiger Trade.</p><p><blockquote>公司在17宗IPO中担任承销商或销售团队成员，共为29宗IPO提供认购，其中包括时代天使(HK：6699)和奈雪(HK：2150)等多宗备受瞩目的香港IPO。此外，公司完成了自己的后续发行650万<a href=\"https://laohu8.com/S/AFG\">美国的</a>第二季度存托股票，甚至为散户投资者提供了通过其旗舰移动交易应用程序Tiger Trade认购的机会。</blockquote></p><p> “While the market will have its ups and downs and competition will remain intense, our innovative platform and technology have been built to create long term value for our clients,” Wu stated. “User experience has always been our top priority and we see significant room for growth as we continue to broaden our global footprint in the near-term.”</p><p><blockquote>吴表示：“虽然市场会有起有落，竞争仍将激烈，但我们的创新平台和技术旨在为客户创造长期价值。”“用户体验一直是我们的首要任务，随着我们在短期内继续扩大全球足迹，我们看到了巨大的增长空间。”</blockquote></p><p> Safe Harbor Statement</p><p><blockquote>安全港声明</blockquote></p><p></p><p> This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. <a href=\"https://laohu8.com/S/FORD\">Forward</a>-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; trends and competition in global financial markets; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company’s industry and general economic conditions in <a href=\"https://laohu8.com/S/CAAS\">China</a> and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p><blockquote>本公告包含前瞻性陈述。这些声明是根据1995年美国私人证券诉讼改革法案的“安全港”条款做出的。这些前瞻性陈述可以通过“将”、“期望”、“预期”、“未来”、“打算”、“计划”、“相信”、“估计”和类似陈述等术语来识别。除其他陈述外，本公告中管理层的业务展望和报价以及公司的战略和运营计划包含前瞻性陈述。公司还可能在向美国证券交易委员会（“SEC”）提交的20-F和6-K表格定期报告、向股东提交的年度报告、新闻稿和其他书面材料以及其管理人员、董事或员工向第三方做出的口头声明中做出书面或口头前瞻性陈述。非历史事实的陈述，包括有关公司信念和期望的陈述，都是前瞻性陈述。<a href=\"https://laohu8.com/S/FORD\">向前</a>-前瞻性陈述涉及固有风险和不确定性。许多因素可能导致实际结果与任何前瞻性陈述中包含的结果存在重大差异，包括但不限于以下内容：公司的增长战略；全球金融市场的趋势和竞争；全球新冠肺炎疫情的影响；以及与本公司所处行业及整体经济状况有关的政府政策<a href=\"https://laohu8.com/S/CAAS\">中国</a>和其他国家。有关这些和其他风险的更多信息包含在公司向SEC提交的文件中。本新闻稿和附件中提供的所有信息均截至本新闻稿发布之日，公司不承担更新任何前瞻性声明的义务，除非适用法律要求。</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>UP Fintech Reports More Than 60% of Newly Funded Accounts Acquired From International Markets<blockquote>老虎证券报告称，超过60%的新资金账户是从国际市场获得的</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\">\nUP Fintech Reports More Than 60% of Newly Funded Accounts Acquired From International Markets<blockquote>老虎证券报告称，超过60%的新资金账户是从国际市场获得的</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\">2021-09-10 16:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/LBIX\">Leading</a> online brokerage firm, UP Fintech Holding Limited (<a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>: TIGR) (“UP Fintech” or the “Company”), today reported revenues of US$60.2 million for the second quarter ended June 30, 2021 compared to revenue of US$30.3 million in the second quarter of 2020. Notably, more than 60% of the Company’s newly funded accounts were derived from international markets in the quarter. Growth was driven by enhanced platform capabilities and rising demand for convenient access to global brokerage services.</p><p><blockquote><a href=\"https://laohu8.com/S/LBIX\">领先的</a>网上经纪行、老虎证券控股有限公司(<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>：TIGR）（“老虎证券”或“公司”）今天公布截至2021年6月30日的第二季度收入为6020万美元，而2020年第二季度的收入为3030万美元。值得注意的是，该公司本季度超过60%的新增资金账户来自国际市场。增长是由增强的平台功能和对便捷获取全球经纪服务的需求不断增长推动的。</blockquote></p><p> <a href=\"https://ir.itiger.com/news-releases/news-release-details/fintech-holding-limited-reports-unaudited-second-quarter-2021\" target=\"_blank\"><b>UP Fintech Holding Limited Reports Unaudited Second Quarter 2021 Financial Results</b></a></p><p><blockquote><a href=\"https://ir.itiger.com/news-releases/news-release-details/fintech-holding-limited-reports-unaudited-second-quarter-2021\" target=\"_blank\"><b>老虎证券控股有限公司报告未经审计的2021年第二季度财务业绩</b></a></blockquote></p><p> “We maintained our solid business momentum with a high client retention rate and increased operational synergies, ”commented Mr. Wu Tianhua, founder and CEO of UP Fintech. “I am confident in the positive outlook for our Company and our industry. Our singular focus is to employ technology to make investing more efficient and we are committed to increasing the breadth and diversity of our product offerings, as well as leveraging our leading position in underwriting and ESOP (Employee Share Ownership Plans) to attract new clients.”</p><p><blockquote>老虎证券创始人兼首席执行官巫天华先生评论道：“我们保持了稳健的业务势头，客户保留率高，运营协同效应增强。”“我对我们公司和行业的积极前景充满信心。我们的唯一重点是利用技术提高投资效率，我们致力于增加产品的广度和多样性，并利用我们在承保和ESOP（员工持股计划）方面的领先地位来吸引新客户。”</blockquote></p><p> During the second quarter, the total number of funded accounts increased to 529,100. The Company added more funded accounts in the first six months of 2021 than it did in its entire cumulative operating history. The total account balance increased 188.9% year-over-year to US$23.9 billion as the Company continued to attract new clients from multiple international markets. In Singapore, UP Fintech’s local subsidiary, <a href=\"https://laohu8.com/S/TIGR\">Tiger Brokers</a> (Singapore) Pte. Ltd., launched new products and in-APP functions such as an industry heatmap, Mini USD/CNH futures, and OSE futures, supplementing the wide range of analytical tools and securities trading functions available on the Company’s platform.</p><p><blockquote>第二季度，资金账户总数增至52.91万个。该公司在2021年前六个月增加的资金账户数量超过了其整个累计运营历史。随着公司继续吸引来自多个国际市场的新客户，账户余额总额同比增长188.9%至239亿美元。在新加坡，老虎证券当地的子公司，<a href=\"https://laohu8.com/S/TIGR\">老虎证券</a>（新加坡）私人有限公司。有限公司推出了新产品和应用内功能，如行业热图、迷你美元/离岸人民币期货和OSE期货，补充了公司平台上广泛的分析工具和证券交易功能。</blockquote></p><p> The Company also recently announced that it has received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited (CDP), and a trading member of Singapore Exchange Securities Trading Limited (SGX) and Singapore Exchange Derivatives Trading Limited. These partnerships aim to improve the user experience and further strengthen the Company’s presence in the Singaporean market.</p><p><blockquote>该公司最近还宣布，已获得原则批准成为中央存管（私人）有限公司（CDP）的结算会员，以及新加坡证券交易所交易有限公司（SGX）和新加坡交易所衍生品交易有限公司的交易会员。这些合作伙伴关系旨在改善用户体验，并进一步加强公司在新加坡市场的影响力。</blockquote></p><p> The Company’s ESOP business continued to exhibit healthy growth with 51 new clients, up from 41 new clients in the previous quarter；ESOP adoption is accelerating and in the first six months of 2021 the Company added more new clients than it did in all of 2020. The Company is a leader in providing extensive expertise and guidance for start-ups at every stage of their ESOP from initial establishment through to execution and reporting. In addition, the Company is now offering its ESOP service to A-Share companies, further expanding its prospective client base.</p><p><blockquote>该公司的员工持股计划业务继续保持健康增长，新增客户51家，高于上一季度的41家；员工持股计划的采用正在加速，2021年前六个月，该公司增加的新客户比2020年全年都多。该公司是一家领先的公司，在员工持股计划的每个阶段为初创企业提供广泛的专业知识和指导，从最初建立到执行和报告。此外，本公司现正向A股公司提供员工持股计划服务，进一步扩大其潜在客户群。</blockquote></p><p> The Company served as an underwriter or member of the selling group in 17 IPOs, and in total provided subscriptions to 29 IPOs, including several high profile Hong Kong IPOs such as those of Angelalign (HK:6699) and Nayuki (HK:2150). In addition, The Company completed its own follow-on offering of 6.5 million <a href=\"https://laohu8.com/S/AFG\">American</a> Depository Shares in the second quarter and even&nbsp;offered retail investors the opportunity to subscribe through its flagship mobile trading APP, Tiger Trade.</p><p><blockquote>公司在17宗IPO中担任承销商或销售团队成员，共为29宗IPO提供认购，其中包括时代天使(HK：6699)和奈雪(HK：2150)等多宗备受瞩目的香港IPO。此外，公司完成了自己的后续发行650万<a href=\"https://laohu8.com/S/AFG\">美国的</a>第二季度存托股票，甚至为散户投资者提供了通过其旗舰移动交易应用程序Tiger Trade认购的机会。</blockquote></p><p> “While the market will have its ups and downs and competition will remain intense, our innovative platform and technology have been built to create long term value for our clients,” Wu stated. “User experience has always been our top priority and we see significant room for growth as we continue to broaden our global footprint in the near-term.”</p><p><blockquote>吴表示：“虽然市场会有起有落，竞争仍将激烈，但我们的创新平台和技术旨在为客户创造长期价值。”“用户体验一直是我们的首要任务，随着我们在短期内继续扩大全球足迹，我们看到了巨大的增长空间。”</blockquote></p><p> Safe Harbor Statement</p><p><blockquote>安全港声明</blockquote></p><p></p><p> This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. <a href=\"https://laohu8.com/S/FORD\">Forward</a>-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; trends and competition in global financial markets; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company’s industry and general economic conditions in <a href=\"https://laohu8.com/S/CAAS\">China</a> and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p><p><blockquote>本公告包含前瞻性陈述。这些声明是根据1995年美国私人证券诉讼改革法案的“安全港”条款做出的。这些前瞻性陈述可以通过“将”、“期望”、“预期”、“未来”、“打算”、“计划”、“相信”、“估计”和类似陈述等术语来识别。除其他陈述外，本公告中管理层的业务展望和报价以及公司的战略和运营计划包含前瞻性陈述。公司还可能在向美国证券交易委员会（“SEC”）提交的20-F和6-K表格定期报告、向股东提交的年度报告、新闻稿和其他书面材料以及其管理人员、董事或员工向第三方做出的口头声明中做出书面或口头前瞻性陈述。非历史事实的陈述，包括有关公司信念和期望的陈述，都是前瞻性陈述。<a href=\"https://laohu8.com/S/FORD\">向前</a>-前瞻性陈述涉及固有风险和不确定性。许多因素可能导致实际结果与任何前瞻性陈述中包含的结果存在重大差异，包括但不限于以下内容：公司的增长战略；全球金融市场的趋势和竞争；全球新冠肺炎疫情的影响；以及与本公司所处行业及整体经济状况有关的政府政策<a href=\"https://laohu8.com/S/CAAS\">中国</a>和其他国家。有关这些和其他风险的更多信息包含在公司向SEC提交的文件中。本新闻稿和附件中提供的所有信息均截至本新闻稿发布之日，公司不承担更新任何前瞻性声明的义务，除非适用法律要求。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108076835","content_text":"Leading online brokerage firm, UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), today reported revenues of US$60.2 million for the second quarter ended June 30, 2021 compared to revenue of US$30.3 million in the second quarter of 2020. Notably, more than 60% of the Company’s newly funded accounts were derived from international markets in the quarter. Growth was driven by enhanced platform capabilities and rising demand for convenient access to global brokerage services.\nUP Fintech Holding Limited Reports Unaudited Second Quarter 2021 Financial Results\n“We maintained our solid business momentum with a high client retention rate and increased operational synergies, ”commented Mr. Wu Tianhua, founder and CEO of UP Fintech. “I am confident in the positive outlook for our Company and our industry. Our singular focus is to employ technology to make investing more efficient and we are committed to increasing the breadth and diversity of our product offerings, as well as leveraging our leading position in underwriting and ESOP (Employee Share Ownership Plans) to attract new clients.”\nDuring the second quarter, the total number of funded accounts increased to 529,100. The Company added more funded accounts in the first six months of 2021 than it did in its entire cumulative operating history. The total account balance increased 188.9% year-over-year to US$23.9 billion as the Company continued to attract new clients from multiple international markets. In Singapore, UP Fintech’s local subsidiary, Tiger Brokers (Singapore) Pte. Ltd., launched new products and in-APP functions such as an industry heatmap, Mini USD/CNH futures, and OSE futures, supplementing the wide range of analytical tools and securities trading functions available on the Company’s platform.\nThe Company also recently announced that it has received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited (CDP), and a trading member of Singapore Exchange Securities Trading Limited (SGX) and Singapore Exchange Derivatives Trading Limited. These partnerships aim to improve the user experience and further strengthen the Company’s presence in the Singaporean market.\nThe Company’s ESOP business continued to exhibit healthy growth with 51 new clients, up from 41 new clients in the previous quarter；ESOP adoption is accelerating and in the first six months of 2021 the Company added more new clients than it did in all of 2020. The Company is a leader in providing extensive expertise and guidance for start-ups at every stage of their ESOP from initial establishment through to execution and reporting. In addition, the Company is now offering its ESOP service to A-Share companies, further expanding its prospective client base.\nThe Company served as an underwriter or member of the selling group in 17 IPOs, and in total provided subscriptions to 29 IPOs, including several high profile Hong Kong IPOs such as those of Angelalign (HK:6699) and Nayuki (HK:2150). In addition, The Company completed its own follow-on offering of 6.5 million American Depository Shares in the second quarter and even offered retail investors the opportunity to subscribe through its flagship mobile trading APP, Tiger Trade.\n“While the market will have its ups and downs and competition will remain intense, our innovative platform and technology have been built to create long term value for our clients,” Wu stated. “User experience has always been our top priority and we see significant room for growth as we continue to broaden our global footprint in the near-term.”\n\nSafe Harbor Statement\nThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; trends and competition in global financial markets; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company’s industry and general economic conditions in China and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.","news_type":1,"symbols_score_info":{"TIGR":0.9}},"isVote":1,"tweetType":1,"viewCount":877,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":881133433,"gmtCreate":1631315415722,"gmtModify":1631886841439,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"[Cry]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Shared","listText":"[Cry]&nbsp;//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Shared","text":"[Cry] //@Alexngo:Shared","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/881133433","repostId":"889595459","repostType":1,"repost":{"id":889595459,"gmtCreate":1631156175467,"gmtModify":1710361318535,"author":{"id":"3527667596890271","authorId":"3527667596890271","name":"Buy_Sell","avatar":"https://static.tigerbbs.com/a5f0ed79a338c758a22e0b4ea13bf9d2","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667596890271","authorIdStr":"3527667596890271"},"themes":[],"title":"🚀【9月9日】投行大跌警告，股指中概齐跌！今天有什么操作？","htmlText":"聊聊今日份的交易想法，包括对于大盘走势后续的看法？看涨/看跌哪只股票、晒晒单等等。 港股市场 9月9日讯，港股三大指数大幅低开，恒指跌0.93%报26076点，国指跌1.16%报9336点，恒生科技指数跌2.02%报6732点。 盘面上，隔夜热门中概股集体下挫，大型科技股全线低开，<a target=\"_blank\" href=\"https://laohu8.com/S/09999\">$网易-S(09999)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 遭约谈，分别跌近7%及3%，两部委约谈腾讯网易等游戏企业和平台。<a target=\"_blank\" href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/01024\">$快手-W(01024)$</a> 均跌超3%；恒大概念股继续大跌，电力股个别弱势，<a target=\"_blank\" href=\"https://laohu8.com/S/00916\">$龙源电力(00916)$</a> 低开4%，昨日创历史新高；海通证券遭立案调查，低开4.5%；教育股、药品股、濠赌股多数上涨，<a target=\"_blank\" href=\"https://laohu8.com/S/01769\">$思考乐教育(01769)$</a> 涨2.45%，","listText":"聊聊今日份的交易想法，包括对于大盘走势后续的看法？看涨/看跌哪只股票、晒晒单等等。 港股市场 9月9日讯，港股三大指数大幅低开，恒指跌0.93%报26076点，国指跌1.16%报9336点，恒生科技指数跌2.02%报6732点。 盘面上，隔夜热门中概股集体下挫，大型科技股全线低开，<a target=\"_blank\" href=\"https://laohu8.com/S/09999\">$网易-S(09999)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 遭约谈，分别跌近7%及3%，两部委约谈腾讯网易等游戏企业和平台。<a target=\"_blank\" href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/01024\">$快手-W(01024)$</a> 均跌超3%；恒大概念股继续大跌，电力股个别弱势，<a target=\"_blank\" href=\"https://laohu8.com/S/00916\">$龙源电力(00916)$</a> 低开4%，昨日创历史新高；海通证券遭立案调查，低开4.5%；教育股、药品股、濠赌股多数上涨，<a target=\"_blank\" href=\"https://laohu8.com/S/01769\">$思考乐教育(01769)$</a> 涨2.45%，","text":"聊聊今日份的交易想法，包括对于大盘走势后续的看法？看涨/看跌哪只股票、晒晒单等等。 港股市场 9月9日讯，港股三大指数大幅低开，恒指跌0.93%报26076点，国指跌1.16%报9336点，恒生科技指数跌2.02%报6732点。 盘面上，隔夜热门中概股集体下挫，大型科技股全线低开，$网易-S(09999)$ 、$腾讯控股(00700)$ 遭约谈，分别跌近7%及3%，两部委约谈腾讯网易等游戏企业和平台。$百度集团-SW(09888)$ 、$阿里巴巴-SW(09988)$ 、$快手-W(01024)$ 均跌超3%；恒大概念股继续大跌，电力股个别弱势，$龙源电力(00916)$ 低开4%，昨日创历史新高；海通证券遭立案调查，低开4.5%；教育股、药品股、濠赌股多数上涨，$思考乐教育(01769)$ 涨2.45%，","images":[{"img":"https://static.tigerbbs.com/8c224c9889536a14f83eca563ae0bb07","width":"666","height":"284"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/889595459","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"subType":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881139231,"gmtCreate":1631315349023,"gmtModify":1631886841449,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575016351943711","authorIdStr":"3575016351943711"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/3571882312755933\">@Alexngo</a>:Shared","listText":"//<a 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10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但霍华德分享了很多，正如你将看到的。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>","source":"lsy1603348471595","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>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</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\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但霍华德分享了很多，正如你将看到的。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":192651747,"gmtCreate":1621208206689,"gmtModify":1634193471469,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/192651747","repostId":"2136982359","repostType":4,"isVote":1,"tweetType":1,"viewCount":670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346551093,"gmtCreate":1618089692412,"gmtModify":1634294977510,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Pls like the comments&nbsp;","listText":"Pls like the comments&nbsp;","text":"Pls like the comments","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/346551093","repostId":"2126315033","repostType":4,"isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182784334,"gmtCreate":1623619608128,"gmtModify":1631891119067,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/182784334","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://www.laohu8.com/m/news/1185020128?lang=zh_CN&edition=full","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线位于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>","source":"lsy1610449120050","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>Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</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\">\nMeme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-06-13 06:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线位于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">investors</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":{"PDCE":"PDC Energy","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"PDCE":0.9,"BBBY":0.9}},"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376204870,"gmtCreate":1619128089990,"gmtModify":1634288431284,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Comment please&nbsp;","listText":"Comment please&nbsp;","text":"Comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/376204870","repostId":"1132062035","repostType":4,"repost":{"id":"1132062035","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":1619106591,"share":"https://www.laohu8.com/m/news/1132062035?lang=zh_CN&edition=full","pubTime":"2021-04-22 23:49","market":"us","language":"en","title":"Why AMC Entertainment Is Up 6% Today<blockquote>为什么AMC院线今天上涨6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132062035","media":"Tiger Newspress","summary":"Better coronavirus data could be boosting confidence in the theater operator.\nShares of AMC Entertai","content":"<p>Better coronavirus data could be boosting confidence in the theater operator.</p><p><blockquote>更好的冠状病毒数据可能会增强剧院运营商的信心。</blockquote></p><p> Shares of&nbsp;<b>AMC Entertainment Holdings</b>&nbsp;(NYSE:AMC)&nbsp;were rising 6.5% in morning trading Thursday on no news specific to the theater operator, though there was progress being made on the coronavirus front.</p><p><blockquote>本公司之股份<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）周四早盘上涨6.5%，但没有针对该影院运营商的具体消息，尽管在冠状病毒方面取得了进展。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eda5a78eac55275e7a12a303b7a2170b\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p> Rising or falling numbers of COVID-19 cases will impact AMC as it will determine whether people are&nbsp;ready to return to movie theaters&nbsp;in large numbers. Right now&nbsp;<i>Godzilla vs. Kong</i>from&nbsp;<b>AT&amp;T</b>'s Warner Bros. continues to dominate at the box office, with over $80 million generated so far, which isn't too bad considering theaters are operating at less than maximum capacity.</p><p><blockquote>COVID-19病例数量的上升或下降将影响AMC，因为这将决定人们是否准备好大量返回电影院。现在<i>哥斯拉大战金刚</i>从<b>AT&amp;T</b>华纳兄弟的票房继续占据主导地位，迄今为止票房收入超过8000万美元，考虑到影院的运营水平低于最大容量，这还不算太糟糕。</blockquote></p><p> The Centers for Disease Control and Prevention says 40% of the U.S. population have received at least one dose of a vaccine and 26% are fully vaccinated. At the same time, the number of COVID-19 cases and the number of new cases continues on its downward trend.</p><p><blockquote>美国疾病控制与预防中心表示，40%的美国人口至少接种了一剂疫苗，26%的人完全接种了疫苗。与此同时，新冠肺炎病例数和新增病例数继续呈下降趋势。</blockquote></p><p> Growing numbers of people who have been vaccinated coupled with falling rates of new cases bodes well for more state governments lifting lockdowns and mask mandates that prevent a return to normalcy.</p><p><blockquote>越来越多的人接种疫苗，加上新病例率的下降，预示着更多州政府将解除封锁和戴口罩的规定，这阻碍了恢复正常。</blockquote></p><p> To date, 13 states no longer require wearing masks in public.&nbsp;Florida Gov. Ron DeSantis told people if they've been vaccinated: \"My view is, the vaccines are effective, you're immune. And so act immune.\"</p><p><blockquote>迄今为止，13个州不再要求在公共场合戴口罩。佛罗里达州州长罗恩·德桑蒂斯告诉人们是否接种了疫苗：“我的观点是，疫苗是有效的，你是免疫的。所以表现出免疫。”</blockquote></p><p> Such policies and rhetoric could help encourage the public to return to their normal&nbsp;leisure time&nbsp;routines sooner, which could help attendance rise further at AMC theaters.</p><p><blockquote>此类政策和言论可能有助于鼓励公众更快地恢复正常的休闲生活，这可能有助于AMC影院的上座率进一步上升。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why AMC Entertainment Is Up 6% Today<blockquote>为什么AMC院线今天上涨6%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy AMC Entertainment Is Up 6% Today<blockquote>为什么AMC院线今天上涨6%</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\">2021-04-22 23:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Better coronavirus data could be boosting confidence in the theater operator.</p><p><blockquote>更好的冠状病毒数据可能会增强剧院运营商的信心。</blockquote></p><p> Shares of&nbsp;<b>AMC Entertainment Holdings</b>&nbsp;(NYSE:AMC)&nbsp;were rising 6.5% in morning trading Thursday on no news specific to the theater operator, though there was progress being made on the coronavirus front.</p><p><blockquote>本公司之股份<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）周四早盘上涨6.5%，但没有针对该影院运营商的具体消息，尽管在冠状病毒方面取得了进展。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eda5a78eac55275e7a12a303b7a2170b\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p> Rising or falling numbers of COVID-19 cases will impact AMC as it will determine whether people are&nbsp;ready to return to movie theaters&nbsp;in large numbers. Right now&nbsp;<i>Godzilla vs. Kong</i>from&nbsp;<b>AT&amp;T</b>'s Warner Bros. continues to dominate at the box office, with over $80 million generated so far, which isn't too bad considering theaters are operating at less than maximum capacity.</p><p><blockquote>COVID-19病例数量的上升或下降将影响AMC，因为这将决定人们是否准备好大量返回电影院。现在<i>哥斯拉大战金刚</i>从<b>AT&amp;T</b>华纳兄弟的票房继续占据主导地位，迄今为止票房收入超过8000万美元，考虑到影院的运营水平低于最大容量，这还不算太糟糕。</blockquote></p><p> The Centers for Disease Control and Prevention says 40% of the U.S. population have received at least one dose of a vaccine and 26% are fully vaccinated. At the same time, the number of COVID-19 cases and the number of new cases continues on its downward trend.</p><p><blockquote>美国疾病控制与预防中心表示，40%的美国人口至少接种了一剂疫苗，26%的人完全接种了疫苗。与此同时，新冠肺炎病例数和新增病例数继续呈下降趋势。</blockquote></p><p> Growing numbers of people who have been vaccinated coupled with falling rates of new cases bodes well for more state governments lifting lockdowns and mask mandates that prevent a return to normalcy.</p><p><blockquote>越来越多的人接种疫苗，加上新病例率的下降，预示着更多州政府将解除封锁和戴口罩的规定，这阻碍了恢复正常。</blockquote></p><p> To date, 13 states no longer require wearing masks in public.&nbsp;Florida Gov. Ron DeSantis told people if they've been vaccinated: \"My view is, the vaccines are effective, you're immune. And so act immune.\"</p><p><blockquote>迄今为止，13个州不再要求在公共场合戴口罩。佛罗里达州州长罗恩·德桑蒂斯告诉人们是否接种了疫苗：“我的观点是，疫苗是有效的，你是免疫的。所以表现出免疫。”</blockquote></p><p> Such policies and rhetoric could help encourage the public to return to their normal&nbsp;leisure time&nbsp;routines sooner, which could help attendance rise further at AMC theaters.</p><p><blockquote>此类政策和言论可能有助于鼓励公众更快地恢复正常的休闲生活，这可能有助于AMC影院的上座率进一步上升。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132062035","content_text":"Better coronavirus data could be boosting confidence in the theater operator.\nShares of AMC Entertainment Holdings (NYSE:AMC) were rising 6.5% in morning trading Thursday on no news specific to the theater operator, though there was progress being made on the coronavirus front.\n\nRising or falling numbers of COVID-19 cases will impact AMC as it will determine whether people are ready to return to movie theaters in large numbers. Right now Godzilla vs. Kongfrom AT&T's Warner Bros. continues to dominate at the box office, with over $80 million generated so far, which isn't too bad considering theaters are operating at less than maximum capacity.\nThe Centers for Disease Control and Prevention says 40% of the U.S. population have received at least one dose of a vaccine and 26% are fully vaccinated. At the same time, the number of COVID-19 cases and the number of new cases continues on its downward trend.\nGrowing numbers of people who have been vaccinated coupled with falling rates of new cases bodes well for more state governments lifting lockdowns and mask mandates that prevent a return to normalcy.\nTo date, 13 states no longer require wearing masks in public. Florida Gov. Ron DeSantis told people if they've been vaccinated: \"My view is, the vaccines are effective, you're immune. And so act immune.\"\nSuch policies and rhetoric could help encourage the public to return to their normal leisure time routines sooner, which could help attendance rise further at AMC theaters.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163619371,"gmtCreate":1623882228493,"gmtModify":1631891119064,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/163619371","repostId":"1170150919","repostType":4,"repost":{"id":"1170150919","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":1623866564,"share":"https://www.laohu8.com/m/news/1170150919?lang=zh_CN&edition=full","pubTime":"2021-06-17 02:02","market":"hk","language":"en","title":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170150919","media":"Tiger Newspress","summary":"U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and finan","content":"<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</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>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.<blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</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\">2021-06-17 02:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p><p><blockquote>美联储维持利率稳定，但大幅上调通胀预期，且未提及taper。</blockquote></p><p> U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p><p><blockquote>美国股市周三跌至盘中低点，此前美联储上调了通胀预期，并提前了下次加息的时间框架。</blockquote></p><p> The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p><p><blockquote>道琼斯工业平均指数下跌320点。标普500在前一交易日创下历史新高后下跌0.7%。以科技股为主的纳斯达克综合指数抹去了早些时候的涨幅，下跌0.5%。</blockquote></p><p> Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p><p><blockquote>11个标普500板块中有9个出现亏损，其中通信服务和金融板块领跌。</blockquote></p><p> Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p><p><blockquote>经济重新开放为大盘提供了一些支撑。主要航空股美国航空、联合航空和达美航空均走高。在Wolfe Research上调评级后，皇家加勒比和嘉年华股价均上涨2%。</blockquote></p><p> The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p><p><blockquote>制定政策的联邦公开市场委员会表示，最早可能在2023年加息，此前该委员会在3月份表示至少在2024年之前不会加息。</blockquote></p><p> The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p><p><blockquote>美联储还将总体通胀预期上调至3.4%，比3月份的预测高出整整一个百分点，会后声明继续称通胀压力是“暂时的”。</blockquote></p><p> Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p><p><blockquote>主席杰罗姆·鲍威尔将于下午2:30举行新闻发布会。等。</blockquote></p><p> The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p><p><blockquote>周二的一份报告显示，此次会议召开之际，通胀加剧，5月份生产者价格以近11年来最快的年增长率上涨。这促使包括保罗·都铎·琼斯在内的一些人呼吁央行重新考虑其宽松的货币政策。</blockquote></p><p> The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p><p><blockquote>随着经济继续从冠状病毒大流行中复苏，央行每月购买价值1200亿美元的债券。</blockquote></p><p> \"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p><p><blockquote>联邦金融网络首席信息官布拉德·麦克米兰表示：“本周的戏剧性事件将是美联储是按兵不动，还是承认通胀正在上升，美联储需要收紧政策。”“由于美联储有双重使命——失业和通胀——这表明它确实应该将重点放在失业上，而不是通胀上。”</blockquote></p><p> Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p><p><blockquote>周三在参议院财政委员会作证的财政部长珍妮特·耶伦表示，从长远来看，更高的价格压力不应持续下去。</blockquote></p><p> \"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p><p><blockquote>耶伦表示：“我之前说过，我看到了重要的暂时影响，但我预计这种影响不会是永久性的。”“但我们将继续非常仔细地监测通胀数据，对于长期通胀前景来说，重要的是，我们认为从大多数指标来看，通胀预期……都是稳固的。”</blockquote></p><p> On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p><p><blockquote>周三，中国表示将从国家储备中释放铜、铝和锌等工业金属，以抑制大宗商品价格。铜价较历史高点下跌逾10%，周二跌入回调区间。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170150919","content_text":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\nU.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.\nThe Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.\nNine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.\nEconomic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.\nThe policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.\nThe Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"\nChairman Jerome Powell will hold a press conference at 2:30 p.m. ET.\nThe meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.\nThe central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.\n\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"\nTreasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.\n\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"\nOn Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116103287,"gmtCreate":1622778018649,"gmtModify":1631893561051,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/116103287","repostId":"2140026421","repostType":4,"isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343496176,"gmtCreate":1617745965995,"gmtModify":1634296833540,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>What happened to TSM🤕","listText":"<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>What happened to TSM🤕","text":"$Taiwan Semiconductor Manufacturing(TSM)$What happened to TSM🤕","images":[{"img":"https://static.tigerbbs.com/be8319dacfcfd0490b426d59dda25b95","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/343496176","isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3516593271667128","authorId":"3516593271667128","name":"晓宇哦哦","avatar":"https://static.tigerbbs.com/050ecdcbf1bbd49cd131f5ad5796fb50","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3516593271667128","idStr":"3516593271667128"},"content":"中国的几个芯片公司已经有突破了 再加上台积电内部火灾缺水等问题，台积电的优势正在消失","text":"中国的几个芯片公司已经有突破了 再加上台积电内部火灾缺水等问题，台积电的优势正在消失","html":"中国的几个芯片公司已经有突破了 再加上台积电内部火灾缺水等问题，台积电的优势正在消失"},{"author":{"id":"3576840776395217","authorId":"3576840776395217","name":"地瓜onni","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3576840776395217","idStr":"3576840776395217"},"content":"ceo说美欧新建产线不赚钱 估计是这个原因？","text":"ceo说美欧新建产线不赚钱 估计是这个原因？","html":"ceo说美欧新建产线不赚钱 估计是这个原因？"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":862804080,"gmtCreate":1632864675693,"gmtModify":1632864675766,"author":{"id":"3575016351943711","authorId":"3575016351943711","name":"WZY999","avatar":"https://static.tigerbbs.com/b0a72c03704eca433b1e33c902b833b4","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575016351943711","idStr":"3575016351943711"},"themes":[],"htmlText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","listText":"[Great]&nbsp;//<a href=\"https://laohu8.com/U/3577415105079753\">@股惑仔79</a>:[What]&nbsp;","text":"[Great] 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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":1620309854,"share":"https://www.laohu8.com/m/news/1188985089?lang=zh_CN&edition=full","pubTime":"2021-05-06 22:04","market":"other","language":"en","title":"Yale's chief investment manager David Swensen dies at 67<blockquote>耶鲁大学首席投资经理大卫·斯文森去世，享年67岁</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188985089","media":"Tiger Newspress","summary":"David Swensen, the head of Yale University’s endowment who helped reshape how institutions manage th","content":"<p>David Swensen, the head of Yale University’s endowment who helped reshape how institutions manage their money, has died from cancer aged 67.</p><p><blockquote>耶鲁大学捐赠基金负责人大卫·斯文森(David Swensen)因癌症去世，享年67岁，他帮助重塑了机构管理资金的方式。</blockquote></p><p>After stints at Salomon Brothers and Lehman Brothers, Swensen returned to his alma mater in 1985 to lead its investment office. At the time, endowments were typically conservatively managed, but Swensen overhauled the model dramatically, taking advantage of their long-term focus to invest heavily in the nascent private equity and hedge fund industries.</p><p><blockquote>在所罗门兄弟和雷曼兄弟工作后，斯文森于1985年回到母校领导其投资办公室。当时，捐赠基金的管理通常是保守的，但斯文森大幅改革了这一模式，利用其长期关注的优势，大力投资新兴的私募股权和对冲基金行业。</blockquote></p><p>His approach was so successful it revolutionised how endowments and many other institutional investors allocate their money, and the “Yale model” spread and helped change the wider investment industry.</p><p><blockquote>他的方法非常成功，彻底改变了捐赠基金和许多其他机构投资者分配资金的方式，“耶鲁模式”传播开来，并帮助改变了更广泛的投资行业。</blockquote></p><p>“With his guidance, Yale’s endowment yielded returns that established him as a legend among institutional investors,” Peter Salovey, Yale’s president, said in a statement. “A natural teacher, he prepared a generation of institutional investors who have gone on to lead investment offices at other colleges and universities, further extending the scope of David’s influence.”</p><p><blockquote>耶鲁大学校长彼得·萨洛维在一份声明中表示：“在他的指导下，耶鲁大学的捐赠基金产生了回报，使他成为机构投资者中的传奇人物。”“作为一名天生的老师，他培养了一代机构投资者，他们后来领导了其他学院和大学的投资办公室，进一步扩大了大卫的影响范围。”</blockquote></p><p>The Yale Investments Office managed $31.2bn as of June 2020, and says it has averaged annual returns of 12. 4 per cent a year over the past three decades. In the 2021 fiscal year its contributions accounted for over a third of the university’s overall revenues.</p><p><blockquote>截至2020年6月，耶鲁投资办公室管理着312亿美元的资产，并表示在过去30年里，该办公室的平均年回报率为12.在2021财年，它的贡献占该大学总收入的三分之一以上。</blockquote></p><p>Almost a quarter of the endowment is invested in venture capital, and combined with private equity, hedge funds and real estate, so-called “alternative” investments account for nearly three quarters of its assets.</p><p><blockquote>几乎四分之一的捐赠基金投资于风险投资，加上私募股权、对冲基金和房地产，所谓的“另类”投资占其资产的近四分之三。</blockquote></p><p><b>Early life and education</b></p><p><blockquote><b>早期生活和教育</b></blockquote></p><p>David F. Swensen was born inRiver Falls, Wisconsin. His father, Richard Swensen, was a chemistry professor and dean at the University of Wisconsin-River Falls. His mother, Grace, after raising six children, became a Lutheran minister. After graduating from River Falls High School in 1971 Swensen elected to stay in his hometown of River Falls and receive hisB.A.andB.S.in 1975 from theUniversity of Wisconsin-River Fallswhere his father Richard Swensen was a professor. Swensen pursued a PhD ineconomicsat Yale, where he wrote hisdissertation,<i>A Model for the Valuation ofCorporate Bonds.</i>One of Swensen's dissertation advisers at Yale wasJames Tobin, a top economic adviser toJohn F. Kennedyadministration and a future Nobel Prize laureate in economics. According to Charles Ellis, founder of Greenwich Associates and former chair of Yale's investment committee, \"When it snowed, David went to Jim's house to shovel the sidewalk\". James Tobin's Nobel Prize, among other things, was for his contribution in creation of Modern Portfolio Theory. Swensen was fascinated by the idea of Modern Portfolio Theory. During his 2018 reunion speech Swensen said: \"For a given level of return, if you diversify you can get that return at lower risk. For a given level of risk, if you diversify you can get a higher return. That's pretty cool! Free lunch!\"</p><p><blockquote>大卫·F·斯文森出生于威斯康星州的里弗福尔斯。他的父亲理查德·斯文森是威斯康星大学里弗福尔斯分校的化学教授兼院长。他的母亲格蕾丝在抚养了六个孩子后，成为了一名路德教牧师。1971年从里弗福尔斯高中毕业后，斯文森选择留在他的家乡里弗福尔斯，并于1975年在威斯康星大学里弗福尔斯分校获得学士学位和学士学位，他的父亲理查德·斯文森是该校的教授。斯文森在耶鲁大学攻读经济学博士学位，<i>公司债券估值模型。</i>斯文森在耶鲁大学的论文导师之一是詹姆斯·托宾，他是约翰·肯尼迪政府的高级经济顾问，也是未来的诺贝尔经济学奖得主。据格林威治联合公司创始人、耶鲁大学投资委员会前主席查尔斯·埃利斯说，“下雪的时候，大卫去吉姆家铲人行道”。詹姆斯·托宾获得诺贝尔奖的原因之一是他在创立现代投资组合理论方面的贡献。斯文森对现代投资组合理论的理念非常着迷。斯文森在2018年的团聚演讲中表示：“对于给定的回报水平，如果你分散投资，你可以以较低的风险获得回报。对于给定的风险水平，如果你分散投资，你可以获得更高的回报。这太酷了！免费午餐！”</blockquote></p><p><b>Investment career</b></p><p><blockquote><b>投资生涯</b></blockquote></p><p>Swensen began his investment career in the early 1980s, and has since advised theCarnegie Corporation, theNew York Stock Exchange, theHoward Hughes Medical Institute, theCourtauld Institute of Art, theYale-New Haven Hospital, The Investment Fund for Foundations (TIFF), theEdna McConnell Clark Foundation, and the States of&nbsp;Connecticut&nbsp;and&nbsp;Massachusetts.</p><p><blockquote>斯文森于20世纪80年代初开始了他的投资生涯，此后曾为卡内基公司、纽约证券交易所、霍华德休斯医学研究所、考陶德艺术研究所、耶鲁-纽黑文医院、基金会投资基金(TIFF)、DNA McConnell Clark基金会以及康涅狄格州和马萨诸塞州提供咨询服务。</blockquote></p><p><b>Salomon Brothers</b></p><p><blockquote><b>所罗门兄弟</b></blockquote></p><p>Following his academic interest in valuation of corporate bonds, Swensen joined Salomon Brothers in 1980. This career move was suggested by a Salomon Brothers investment banker and Yale alumni, Gene Dattel, who was deeply impressed by Swensen. In 1981 Swensen worked to structure the world's first swap agreement, a deal betweenIBMand theWorld Bankwhich allowed to hedge their exposure to Swiss francs and German marks.</p><p><blockquote>出于对公司债券估值的学术兴趣，斯文森于1980年加入所罗门兄弟公司。这一职业转变是由所罗门兄弟投资银行家、耶鲁校友吉恩·达特尔建议的，他对斯文森印象深刻。1981年，斯文森致力于构建世界上第一个互换协议，这是IBM和世界银行之间的一项交易，允许他们对冲瑞士法郎和德国马克的风险敞口。</blockquote></p><p><b>Lehman Brothers</b></p><p><blockquote><b>雷曼兄弟</b></blockquote></p><p>Prior to joining Yale in 1985, Swensen spent six years onWall Streetas senior vice president atLehman Brothers,&nbsp;specializing in the firm'sswapactivities, and as an associate incorporate financeforSalomon Brothers(here he worked for three years prior to joining Lehman Brothers), where his work focused on developing new financial technologies. Swensen engineered the first swap transaction according to<i>When Genius Failed: The Rise and Fall of Long-Term Capital Management</i>byRoger Lowenstein.</p><p><blockquote>在1985年加入耶鲁大学之前，斯文森在华尔街工作了六年，担任雷曼兄弟公司的高级副总裁，专门从事该公司的互换活动，并担任所罗门兄弟公司的合伙人（在加入雷曼兄弟之前，他在这里工作了三年），他的工作重点是开发新的金融技术。斯文森根据<i>当天才失败时：长期资本管理的兴衰</i>作者：罗杰·洛温斯坦。</blockquote></p><p><b>Yale University endowment</b></p><p><blockquote><b>耶鲁大学捐赠</b></blockquote></p><p></p><p>Swensen was tapped to serve as the Yale endowment manager at age 31 in 1985.&nbsp;This position was offered by Swensen's other dissertation adviser, Yale's provost,William Brainard. Swensen's candidacy was suggested by James Tobin, who, despite his former student's young age, believed he could be the right person. Swensen was hesitant about taking the job at first, since he did not know much about portfolio management aside from his studies in graduate school. Nevertheless, Brainard convinced him to take the position and Swensen started on April 1, 1985 by taking 80% pay cut.&nbsp;A year later, in 1986, he was joined by Yale College and School of Management graduate Dean Takahashi, who soon became Swensen's trusted deputy. In 1985, when Swensen started managing the endowment, it was worth $1 billion; in 2019 it was worth $29.4 billion.</p><p><blockquote>1985年，31岁的斯文森被任命为耶鲁大学捐赠基金经理。这个职位是由斯文森的另一位论文导师、耶鲁大学教务长威廉·布雷纳德提供的。詹姆斯·托宾建议斯文森参选，尽管他以前的学生年龄很小，但他相信他可能是合适的人选。斯文森起初对接受这份工作犹豫不决，因为除了在研究生院的学习之外，他对投资组合管理了解不多。尽管如此，布雷纳德还是说服他接受了这个职位，斯文森从1985年4月1日开始减薪80%。一年后，在1986年，耶鲁大学和管理学院毕业生高桥院长加入了他的行列，他很快成为斯文森信任的副手。1985年，当斯文森开始管理该捐赠基金时，它价值10亿美元；2019年，其价值为294亿美元。</blockquote></p><p>As of 2005, the fund has managed annualized returns of 16.1%. He has been called \"Yale's 8 billion dollar man\" for his attainment of nearly $8 billion for the college endowment from 1985 to 2005.&nbsp;According to former Yale President, economistRichard Levin, Swensen's \"contribution\" to Yale is greater than the sum of all the donations made in more than two decades. \"We've just done better,\" Levin says, because of Swensen's \"uncanny ability\" to pick the best outside money managers. Swensen's former staff members, who later became managers of other endowment funds - includingMIT,StanfordandPrinceton- also showed impressive results in multiplying fund wealth.</p><p><blockquote>截至2005年，该基金管理的年化回报率为16.1%。他被称为“耶鲁80亿美元的人”，因为他从1985年到2005年为大学捐赠了近80亿美元。根据耶鲁前校长、经济学家理查德·莱文的说法，斯文森对耶鲁的“贡献”超过了二十多年来所有捐款的总和。“我们做得更好了，”莱文说，因为斯文森拥有挑选最佳外部基金经理的“不可思议的能力”。斯文森的前员工后来成为其他捐赠基金的经理——包括麻省理工学院、斯坦福大学和普林斯顿大学——在基金财富倍增方面也表现出了令人印象深刻的成果。</blockquote></p><p>In September 2014, Swensen began to move the Yale endowment away from investment in companies that have a large greenhouse footprint, expressing Yale's preferences in a letter to the endowment's money managers. The letter asked them to consider the effect of their investments on climate change, and to refrain from investing in companies that do not make reasonable efforts to reduce carbon emissions. This method was characterized by Swensen as a more subtle and flexible approach, as opposed to outright divestment.</p><p><blockquote>2014年9月，斯文森开始让耶鲁捐赠基金不再投资温室气体排放量大的公司，并在给捐赠基金经理的一封信中表达了耶鲁的偏好。这封信要求他们考虑投资对气候变化的影响，并避免投资于没有做出合理努力减少碳排放的公司。斯文森认为这种方法是一种更微妙、更灵活的方法，而不是直接撤资。</blockquote></p><p>Swensen made headlines on March 5, 2018 for arguing with the undergraduate editor-in-chief of the<i>Yale Daily News</i>. Swensen called the editor-in-chief a \"coward\" for deleting an inaccurate sentence and removing a footnote in an op-ed that he submitted to the paper; his column, which he required to be published unedited, responded to a student teach-in that criticized companies allegedly in the Yale portfolio.</p><p><blockquote>2018年3月5日，斯文森因与本科生主编发生争执而成为头条新闻。<i>耶鲁每日新闻</i>斯文森称主编为“懦夫”，因为他在提交给该报的一篇专栏文章中删除了一个不准确的句子和一个脚注；他要求未经编辑发表的专栏回应了一位学生的讲座，该讲座批评了据称在耶鲁投资组合中的公司。</blockquote></p><p><b>Unconventional success</b></p><p><blockquote><b>非常规的成功</b></blockquote></p><p>In 2005, Swensen wrote a book called<i>Unconventional Success,</i>which is an investment guide for the individual investor. The general strategy that he presents can be boiled down to the following three main points of advice:</p><p><blockquote>2005年，斯文森写了一本名为<i>非常规的成功，</i>这是个人投资者的投资指南。他提出的总体策略可以归结为以下三点建议：</blockquote></p><p><ul><li>The investor should construct a portfolio with money allocated to 6 core asset classes, diversifying among them and biasing toward the equity sections.</li><li>The investor should rebalance the portfolio on a regular basis (rebalancingback to the original weightings of the asset classes in the portfolio).</li><li>In the absence of confidence in a market-beating strategy, invest in low-costindex fundsandexchange-traded funds. The investor should be very watchful of costs as some indices are poorly constructed and some fund companies charge excessive fees (or generate large tax liabilities).</li></ul>He slams manymutual fundcompanies for charging excessive fees and not living up to their fiduciary responsibility. He highlights the conflict of interest inherent in the mutual funds, claiming they want high fee, high turnover funds while investors want the opposite.</p><p><blockquote><ul><li>投资者应该构建一个投资组合，将资金分配到6个核心资产类别，在其中分散投资并偏向股票部分。</li><li>投资者应定期重新平衡投资组合（重新平衡回投资组合中资产类别的原始权重）。</li><li>如果对跑赢市场的策略缺乏信心，请投资低成本指数基金和交易所交易基金。投资者应该非常警惕成本，因为一些指数构建不良，一些基金公司收取过高的费用（或产生大量的纳税义务）。</li></ul>他抨击许多共同基金公司收取过高的费用并且没有履行其信托责任。他强调了共同基金固有的利益冲突，声称他们想要高费用、高周转率的基金，而投资者想要相反的基金。</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>Yale's chief investment manager David Swensen dies at 67<blockquote>耶鲁大学首席投资经理大卫·斯文森去世，享年67岁</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\">\nYale's chief investment manager David Swensen dies at 67<blockquote>耶鲁大学首席投资经理大卫·斯文森去世，享年67岁</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\">2021-05-06 22:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>David Swensen, the head of Yale University’s endowment who helped reshape how institutions manage their money, has died from cancer aged 67.</p><p><blockquote>耶鲁大学捐赠基金负责人大卫·斯文森(David Swensen)因癌症去世，享年67岁，他帮助重塑了机构管理资金的方式。</blockquote></p><p>After stints at Salomon Brothers and Lehman Brothers, Swensen returned to his alma mater in 1985 to lead its investment office. At the time, endowments were typically conservatively managed, but Swensen overhauled the model dramatically, taking advantage of their long-term focus to invest heavily in the nascent private equity and hedge fund industries.</p><p><blockquote>在所罗门兄弟和雷曼兄弟工作后，斯文森于1985年回到母校领导其投资办公室。当时，捐赠基金的管理通常是保守的，但斯文森大幅改革了这一模式，利用其长期关注的优势，大力投资新兴的私募股权和对冲基金行业。</blockquote></p><p>His approach was so successful it revolutionised how endowments and many other institutional investors allocate their money, and the “Yale model” spread and helped change the wider investment industry.</p><p><blockquote>他的方法非常成功，彻底改变了捐赠基金和许多其他机构投资者分配资金的方式，“耶鲁模式”传播开来，并帮助改变了更广泛的投资行业。</blockquote></p><p>“With his guidance, Yale’s endowment yielded returns that established him as a legend among institutional investors,” Peter Salovey, Yale’s president, said in a statement. “A natural teacher, he prepared a generation of institutional investors who have gone on to lead investment offices at other colleges and universities, further extending the scope of David’s influence.”</p><p><blockquote>耶鲁大学校长彼得·萨洛维在一份声明中表示：“在他的指导下，耶鲁大学的捐赠基金产生了回报，使他成为机构投资者中的传奇人物。”“作为一名天生的老师，他培养了一代机构投资者，他们后来领导了其他学院和大学的投资办公室，进一步扩大了大卫的影响范围。”</blockquote></p><p>The Yale Investments Office managed $31.2bn as of June 2020, and says it has averaged annual returns of 12. 4 per cent a year over the past three decades. In the 2021 fiscal year its contributions accounted for over a third of the university’s overall revenues.</p><p><blockquote>截至2020年6月，耶鲁投资办公室管理着312亿美元的资产，并表示在过去30年里，该办公室的平均年回报率为12.在2021财年，它的贡献占该大学总收入的三分之一以上。</blockquote></p><p>Almost a quarter of the endowment is invested in venture capital, and combined with private equity, hedge funds and real estate, so-called “alternative” investments account for nearly three quarters of its assets.</p><p><blockquote>几乎四分之一的捐赠基金投资于风险投资，加上私募股权、对冲基金和房地产，所谓的“另类”投资占其资产的近四分之三。</blockquote></p><p><b>Early life and education</b></p><p><blockquote><b>早期生活和教育</b></blockquote></p><p>David F. Swensen was born inRiver Falls, Wisconsin. His father, Richard Swensen, was a chemistry professor and dean at the University of Wisconsin-River Falls. His mother, Grace, after raising six children, became a Lutheran minister. After graduating from River Falls High School in 1971 Swensen elected to stay in his hometown of River Falls and receive hisB.A.andB.S.in 1975 from theUniversity of Wisconsin-River Fallswhere his father Richard Swensen was a professor. Swensen pursued a PhD ineconomicsat Yale, where he wrote hisdissertation,<i>A Model for the Valuation ofCorporate Bonds.</i>One of Swensen's dissertation advisers at Yale wasJames Tobin, a top economic adviser toJohn F. Kennedyadministration and a future Nobel Prize laureate in economics. According to Charles Ellis, founder of Greenwich Associates and former chair of Yale's investment committee, \"When it snowed, David went to Jim's house to shovel the sidewalk\". James Tobin's Nobel Prize, among other things, was for his contribution in creation of Modern Portfolio Theory. Swensen was fascinated by the idea of Modern Portfolio Theory. During his 2018 reunion speech Swensen said: \"For a given level of return, if you diversify you can get that return at lower risk. For a given level of risk, if you diversify you can get a higher return. That's pretty cool! Free lunch!\"</p><p><blockquote>大卫·F·斯文森出生于威斯康星州的里弗福尔斯。他的父亲理查德·斯文森是威斯康星大学里弗福尔斯分校的化学教授兼院长。他的母亲格蕾丝在抚养了六个孩子后，成为了一名路德教牧师。1971年从里弗福尔斯高中毕业后，斯文森选择留在他的家乡里弗福尔斯，并于1975年在威斯康星大学里弗福尔斯分校获得学士学位和学士学位，他的父亲理查德·斯文森是该校的教授。斯文森在耶鲁大学攻读经济学博士学位，<i>公司债券估值模型。</i>斯文森在耶鲁大学的论文导师之一是詹姆斯·托宾，他是约翰·肯尼迪政府的高级经济顾问，也是未来的诺贝尔经济学奖得主。据格林威治联合公司创始人、耶鲁大学投资委员会前主席查尔斯·埃利斯说，“下雪的时候，大卫去吉姆家铲人行道”。詹姆斯·托宾获得诺贝尔奖的原因之一是他在创立现代投资组合理论方面的贡献。斯文森对现代投资组合理论的理念非常着迷。斯文森在2018年的团聚演讲中表示：“对于给定的回报水平，如果你分散投资，你可以以较低的风险获得回报。对于给定的风险水平，如果你分散投资，你可以获得更高的回报。这太酷了！免费午餐！”</blockquote></p><p><b>Investment career</b></p><p><blockquote><b>投资生涯</b></blockquote></p><p>Swensen began his investment career in the early 1980s, and has since advised theCarnegie Corporation, theNew York Stock Exchange, theHoward Hughes Medical Institute, theCourtauld Institute of Art, theYale-New Haven Hospital, The Investment Fund for Foundations (TIFF), theEdna McConnell Clark Foundation, and the States of&nbsp;Connecticut&nbsp;and&nbsp;Massachusetts.</p><p><blockquote>斯文森于20世纪80年代初开始了他的投资生涯，此后曾为卡内基公司、纽约证券交易所、霍华德休斯医学研究所、考陶德艺术研究所、耶鲁-纽黑文医院、基金会投资基金(TIFF)、DNA McConnell Clark基金会以及康涅狄格州和马萨诸塞州提供咨询服务。</blockquote></p><p><b>Salomon Brothers</b></p><p><blockquote><b>所罗门兄弟</b></blockquote></p><p>Following his academic interest in valuation of corporate bonds, Swensen joined Salomon Brothers in 1980. This career move was suggested by a Salomon Brothers investment banker and Yale alumni, Gene Dattel, who was deeply impressed by Swensen. In 1981 Swensen worked to structure the world's first swap agreement, a deal betweenIBMand theWorld Bankwhich allowed to hedge their exposure to Swiss francs and German marks.</p><p><blockquote>出于对公司债券估值的学术兴趣，斯文森于1980年加入所罗门兄弟公司。这一职业转变是由所罗门兄弟投资银行家、耶鲁校友吉恩·达特尔建议的，他对斯文森印象深刻。1981年，斯文森致力于构建世界上第一个互换协议，这是IBM和世界银行之间的一项交易，允许他们对冲瑞士法郎和德国马克的风险敞口。</blockquote></p><p><b>Lehman Brothers</b></p><p><blockquote><b>雷曼兄弟</b></blockquote></p><p>Prior to joining Yale in 1985, Swensen spent six years onWall Streetas senior vice president atLehman Brothers,&nbsp;specializing in the firm'sswapactivities, and as an associate incorporate financeforSalomon Brothers(here he worked for three years prior to joining Lehman Brothers), where his work focused on developing new financial technologies. Swensen engineered the first swap transaction according to<i>When Genius Failed: The Rise and Fall of Long-Term Capital Management</i>byRoger Lowenstein.</p><p><blockquote>在1985年加入耶鲁大学之前，斯文森在华尔街工作了六年，担任雷曼兄弟公司的高级副总裁，专门从事该公司的互换活动，并担任所罗门兄弟公司的合伙人（在加入雷曼兄弟之前，他在这里工作了三年），他的工作重点是开发新的金融技术。斯文森根据<i>当天才失败时：长期资本管理的兴衰</i>作者：罗杰·洛温斯坦。</blockquote></p><p><b>Yale University endowment</b></p><p><blockquote><b>耶鲁大学捐赠</b></blockquote></p><p></p><p>Swensen was tapped to serve as the Yale endowment manager at age 31 in 1985.&nbsp;This position was offered by Swensen's other dissertation adviser, Yale's provost,William Brainard. Swensen's candidacy was suggested by James Tobin, who, despite his former student's young age, believed he could be the right person. Swensen was hesitant about taking the job at first, since he did not know much about portfolio management aside from his studies in graduate school. Nevertheless, Brainard convinced him to take the position and Swensen started on April 1, 1985 by taking 80% pay cut.&nbsp;A year later, in 1986, he was joined by Yale College and School of Management graduate Dean Takahashi, who soon became Swensen's trusted deputy. In 1985, when Swensen started managing the endowment, it was worth $1 billion; in 2019 it was worth $29.4 billion.</p><p><blockquote>1985年，31岁的斯文森被任命为耶鲁大学捐赠基金经理。这个职位是由斯文森的另一位论文导师、耶鲁大学教务长威廉·布雷纳德提供的。詹姆斯·托宾建议斯文森参选，尽管他以前的学生年龄很小，但他相信他可能是合适的人选。斯文森起初对接受这份工作犹豫不决，因为除了在研究生院的学习之外，他对投资组合管理了解不多。尽管如此，布雷纳德还是说服他接受了这个职位，斯文森从1985年4月1日开始减薪80%。一年后，在1986年，耶鲁大学和管理学院毕业生高桥院长加入了他的行列，他很快成为斯文森信任的副手。1985年，当斯文森开始管理该捐赠基金时，它价值10亿美元；2019年，其价值为294亿美元。</blockquote></p><p>As of 2005, the fund has managed annualized returns of 16.1%. He has been called \"Yale's 8 billion dollar man\" for his attainment of nearly $8 billion for the college endowment from 1985 to 2005.&nbsp;According to former Yale President, economistRichard Levin, Swensen's \"contribution\" to Yale is greater than the sum of all the donations made in more than two decades. \"We've just done better,\" Levin says, because of Swensen's \"uncanny ability\" to pick the best outside money managers. Swensen's former staff members, who later became managers of other endowment funds - includingMIT,StanfordandPrinceton- also showed impressive results in multiplying fund wealth.</p><p><blockquote>截至2005年，该基金管理的年化回报率为16.1%。他被称为“耶鲁80亿美元的人”，因为他从1985年到2005年为大学捐赠了近80亿美元。根据耶鲁前校长、经济学家理查德·莱文的说法，斯文森对耶鲁的“贡献”超过了二十多年来所有捐款的总和。“我们做得更好了，”莱文说，因为斯文森拥有挑选最佳外部基金经理的“不可思议的能力”。斯文森的前员工后来成为其他捐赠基金的经理——包括麻省理工学院、斯坦福大学和普林斯顿大学——在基金财富倍增方面也表现出了令人印象深刻的成果。</blockquote></p><p>In September 2014, Swensen began to move the Yale endowment away from investment in companies that have a large greenhouse footprint, expressing Yale's preferences in a letter to the endowment's money managers. The letter asked them to consider the effect of their investments on climate change, and to refrain from investing in companies that do not make reasonable efforts to reduce carbon emissions. This method was characterized by Swensen as a more subtle and flexible approach, as opposed to outright divestment.</p><p><blockquote>2014年9月，斯文森开始让耶鲁捐赠基金不再投资温室气体排放量大的公司，并在给捐赠基金经理的一封信中表达了耶鲁的偏好。这封信要求他们考虑投资对气候变化的影响，并避免投资于没有做出合理努力减少碳排放的公司。斯文森认为这种方法是一种更微妙、更灵活的方法，而不是直接撤资。</blockquote></p><p>Swensen made headlines on March 5, 2018 for arguing with the undergraduate editor-in-chief of the<i>Yale Daily News</i>. Swensen called the editor-in-chief a \"coward\" for deleting an inaccurate sentence and removing a footnote in an op-ed that he submitted to the paper; his column, which he required to be published unedited, responded to a student teach-in that criticized companies allegedly in the Yale portfolio.</p><p><blockquote>2018年3月5日，斯文森因与本科生主编发生争执而成为头条新闻。<i>耶鲁每日新闻</i>斯文森称主编为“懦夫”，因为他在提交给该报的一篇专栏文章中删除了一个不准确的句子和一个脚注；他要求未经编辑发表的专栏回应了一位学生的讲座，该讲座批评了据称在耶鲁投资组合中的公司。</blockquote></p><p><b>Unconventional success</b></p><p><blockquote><b>非常规的成功</b></blockquote></p><p>In 2005, Swensen wrote a book called<i>Unconventional Success,</i>which is an investment guide for the individual investor. The general strategy that he presents can be boiled down to the following three main points of advice:</p><p><blockquote>2005年，斯文森写了一本名为<i>非常规的成功，</i>这是个人投资者的投资指南。他提出的总体策略可以归结为以下三点建议：</blockquote></p><p><ul><li>The investor should construct a portfolio with money allocated to 6 core asset classes, diversifying among them and biasing toward the equity sections.</li><li>The investor should rebalance the portfolio on a regular basis (rebalancingback to the original weightings of the asset classes in the portfolio).</li><li>In the absence of confidence in a market-beating strategy, invest in low-costindex fundsandexchange-traded funds. The investor should be very watchful of costs as some indices are poorly constructed and some fund companies charge excessive fees (or generate large tax liabilities).</li></ul>He slams manymutual fundcompanies for charging excessive fees and not living up to their fiduciary responsibility. He highlights the conflict of interest inherent in the mutual funds, claiming they want high fee, high turnover funds while investors want the opposite.</p><p><blockquote><ul><li>投资者应该构建一个投资组合，将资金分配到6个核心资产类别，在其中分散投资并偏向股票部分。</li><li>投资者应定期重新平衡投资组合（重新平衡回投资组合中资产类别的原始权重）。</li><li>如果对跑赢市场的策略缺乏信心，请投资低成本指数基金和交易所交易基金。投资者应该非常警惕成本，因为一些指数构建不良，一些基金公司收取过高的费用（或产生大量的纳税义务）。</li></ul>他抨击许多共同基金公司收取过高的费用并且没有履行其信托责任。他强调了共同基金固有的利益冲突，声称他们想要高费用、高周转率的基金，而投资者想要相反的基金。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188985089","content_text":"David Swensen, the head of Yale University’s endowment who helped reshape how institutions manage their money, has died from cancer aged 67.After stints at Salomon Brothers and Lehman Brothers, Swensen returned to his alma mater in 1985 to lead its investment office. At the time, endowments were typically conservatively managed, but Swensen overhauled the model dramatically, taking advantage of their long-term focus to invest heavily in the nascent private equity and hedge fund industries.His approach was so successful it revolutionised how endowments and many other institutional investors allocate their money, and the “Yale model” spread and helped change the wider investment industry.“With his guidance, Yale’s endowment yielded returns that established him as a legend among institutional investors,” Peter Salovey, Yale’s president, said in a statement. “A natural teacher, he prepared a generation of institutional investors who have gone on to lead investment offices at other colleges and universities, further extending the scope of David’s influence.”The Yale Investments Office managed $31.2bn as of June 2020, and says it has averaged annual returns of 12. 4 per cent a year over the past three decades. In the 2021 fiscal year its contributions accounted for over a third of the university’s overall revenues.Almost a quarter of the endowment is invested in venture capital, and combined with private equity, hedge funds and real estate, so-called “alternative” investments account for nearly three quarters of its assets.Early life and educationDavid F. Swensen was born inRiver Falls, Wisconsin. His father, Richard Swensen, was a chemistry professor and dean at the University of Wisconsin-River Falls. His mother, Grace, after raising six children, became a Lutheran minister. After graduating from River Falls High School in 1971 Swensen elected to stay in his hometown of River Falls and receive hisB.A.andB.S.in 1975 from theUniversity of Wisconsin-River Fallswhere his father Richard Swensen was a professor. Swensen pursued a PhD ineconomicsat Yale, where he wrote hisdissertation,A Model for the Valuation ofCorporate Bonds.One of Swensen's dissertation advisers at Yale wasJames Tobin, a top economic adviser toJohn F. Kennedyadministration and a future Nobel Prize laureate in economics. According to Charles Ellis, founder of Greenwich Associates and former chair of Yale's investment committee, \"When it snowed, David went to Jim's house to shovel the sidewalk\". James Tobin's Nobel Prize, among other things, was for his contribution in creation of Modern Portfolio Theory. Swensen was fascinated by the idea of Modern Portfolio Theory. During his 2018 reunion speech Swensen said: \"For a given level of return, if you diversify you can get that return at lower risk. For a given level of risk, if you diversify you can get a higher return. That's pretty cool! Free lunch!\"Investment careerSwensen began his investment career in the early 1980s, and has since advised theCarnegie Corporation, theNew York Stock Exchange, theHoward Hughes Medical Institute, theCourtauld Institute of Art, theYale-New Haven Hospital, The Investment Fund for Foundations (TIFF), theEdna McConnell Clark Foundation, and the States of Connecticut and Massachusetts.Salomon BrothersFollowing his academic interest in valuation of corporate bonds, Swensen joined Salomon Brothers in 1980. This career move was suggested by a Salomon Brothers investment banker and Yale alumni, Gene Dattel, who was deeply impressed by Swensen. In 1981 Swensen worked to structure the world's first swap agreement, a deal betweenIBMand theWorld Bankwhich allowed to hedge their exposure to Swiss francs and German marks.Lehman BrothersPrior to joining Yale in 1985, Swensen spent six years onWall Streetas senior vice president atLehman Brothers, specializing in the firm'sswapactivities, and as an associate incorporate financeforSalomon Brothers(here he worked for three years prior to joining Lehman Brothers), where his work focused on developing new financial technologies. Swensen engineered the first swap transaction according toWhen Genius Failed: The Rise and Fall of Long-Term Capital ManagementbyRoger Lowenstein.Yale University endowmentSwensen was tapped to serve as the Yale endowment manager at age 31 in 1985. This position was offered by Swensen's other dissertation adviser, Yale's provost,William Brainard. Swensen's candidacy was suggested by James Tobin, who, despite his former student's young age, believed he could be the right person. Swensen was hesitant about taking the job at first, since he did not know much about portfolio management aside from his studies in graduate school. Nevertheless, Brainard convinced him to take the position and Swensen started on April 1, 1985 by taking 80% pay cut. A year later, in 1986, he was joined by Yale College and School of Management graduate Dean Takahashi, who soon became Swensen's trusted deputy. In 1985, when Swensen started managing the endowment, it was worth $1 billion; in 2019 it was worth $29.4 billion.As of 2005, the fund has managed annualized returns of 16.1%. He has been called \"Yale's 8 billion dollar man\" for his attainment of nearly $8 billion for the college endowment from 1985 to 2005. According to former Yale President, economistRichard Levin, Swensen's \"contribution\" to Yale is greater than the sum of all the donations made in more than two decades. \"We've just done better,\" Levin says, because of Swensen's \"uncanny ability\" to pick the best outside money managers. Swensen's former staff members, who later became managers of other endowment funds - includingMIT,StanfordandPrinceton- also showed impressive results in multiplying fund wealth.In September 2014, Swensen began to move the Yale endowment away from investment in companies that have a large greenhouse footprint, expressing Yale's preferences in a letter to the endowment's money managers. The letter asked them to consider the effect of their investments on climate change, and to refrain from investing in companies that do not make reasonable efforts to reduce carbon emissions. This method was characterized by Swensen as a more subtle and flexible approach, as opposed to outright divestment.Swensen made headlines on March 5, 2018 for arguing with the undergraduate editor-in-chief of theYale Daily News. Swensen called the editor-in-chief a \"coward\" for deleting an inaccurate sentence and removing a footnote in an op-ed that he submitted to the paper; his column, which he required to be published unedited, responded to a student teach-in that criticized companies allegedly in the Yale portfolio.Unconventional successIn 2005, Swensen wrote a book calledUnconventional Success,which is an investment guide for the individual investor. The general strategy that he presents can be boiled down to the following three main points of advice:The investor should construct a portfolio with money allocated to 6 core asset classes, diversifying among them and biasing toward the equity sections.The investor should rebalance the portfolio on a regular basis (rebalancingback to the original weightings of the asset classes in the portfolio).In the absence of confidence in a market-beating strategy, invest in low-costindex fundsandexchange-traded funds. The investor should be very watchful of costs as some indices are poorly constructed and some fund companies charge excessive fees (or generate large tax liabilities).He slams manymutual fundcompanies for charging excessive fees and not living up to their fiduciary responsibility. He highlights the conflict of interest inherent in the mutual funds, claiming they want high fee, high turnover funds while investors want the opposite.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}