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TONGYK

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2021-02-25

Let’s see..

The days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子已经结束了</blockquote>

2021-04-22

Not good news

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2021-05-04

Prospective

Li Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</blockquote>

2021-04-26

HreT news

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2021-04-18

Long recovery

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2021-03-25

Good game

Who's at risk if the SPAC frenzy spins out of control<blockquote>如果 SPAC 狂热失控，谁将面临风险</blockquote>

2021-02-15

Down but not out

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2021-02-08

More to follow..

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2021-02-01

Good

2021-10-13

$PetroChina(PTR)$Share

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dip..","text":"Waiting for the dip..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817423333","repostId":"805564904","repostType":1,"repost":{"id":805564904,"gmtCreate":1627892615908,"gmtModify":1627999220549,"author":{"id":"3581985274026406","authorId":"3581985274026406","name":"Skai","avatar":"https://static.tigerbbs.com/77957397aed2feadade5874e503ea585","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581985274026406","idStr":"3581985274026406"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>is a boring stock. We just buy and hodl, and wait for the short squeeze.&nbsp;I may have to wait till the HFs decide to cut their loss and start covering the shorts or when the SEC implements more rules to stop all the illegal manipulation.But I don't care, as long as I'll make big bucks during the squeeze, which can change my life.&nbsp;Investing in other stocks doesn't guarantee profit and also doesn't guarantee huge profit. In AMC, I believe.How about you?","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>is a boring stock. We just buy and hodl, and wait for the short squeeze.&nbsp;I may have to wait till the HFs decide to cut their loss and start covering the shorts or when the SEC implements more rules to stop all the illegal manipulation.But I don't care, as long as I'll make big bucks during the squeeze, which can change my life.&nbsp;Investing in other stocks doesn't guarantee profit and also doesn't guarantee huge profit. In AMC, I believe.How about you?","text":"$AMC Entertainment(AMC)$is a boring stock. We just buy and hodl, and wait for the short squeeze. I may have to wait till the HFs decide to cut their loss and start covering the shorts or when the SEC implements more rules to stop all the illegal manipulation.But I don't care, as long as I'll make big bucks during the squeeze, which can change my life. Investing in other stocks doesn't guarantee profit and also doesn't guarantee huge profit. In AMC, I believe.How about you?","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805564904","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817423023,"gmtCreate":1630981674162,"gmtModify":1632904794184,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Looking to add more to the positions&nbsp;","listText":"Looking to add more to the positions&nbsp;","text":"Looking to add more to the positions","images":[{"img":"https://static.tigerbbs.com/80c471f91629a386166e512d3594db21","width":"1125","height":"3974"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817423023","isVote":1,"tweetType":1,"viewCount":2076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":104032208,"gmtCreate":1620344717304,"gmtModify":1634205977145,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Sinking","listText":"Sinking","text":"Sinking","images":[{"img":"https://static.tigerbbs.com/381c1bdf0a22a5974f480cbf2262eda6","width":"1125","height":"2677"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104032208","isVote":1,"tweetType":1,"viewCount":3544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":106928499,"gmtCreate":1620085282211,"gmtModify":1634208018911,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Prospective&nbsp;","listText":"Prospective&nbsp;","text":"Prospective","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106928499","repostId":"1111515416","repostType":4,"repost":{"id":"1111515416","kind":"news","pubTimestamp":1620053095,"share":"https://www.laohunote.com/m/news/1111515416?lang=zh_CN&edition=full","pubTime":"2021-05-03 22:44","market":"us","language":"en","title":"Li Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111515416","media":"Barron's","summary":"Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for righ","content":"<p>Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.</p><p><blockquote>中国电动汽车制造商理想汽车 4 月份的交付量还不错，目前来说已经足够了，但从长远来看还不够。这就是为什么随着全球芯片短缺的持续，投资者对生产水平持谨慎态度。</blockquote></p><p> Li Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.</p><p><blockquote>理想汽车（股票代码：LI）上个月交付了 5,539 辆 Li ONE SUV，同比增长约 111%。但同比增长并不重要，因为李和中国电动汽车同行一样，都是一家高增长公司。更重要的是逐月的连续变化。</blockquote></p><p> Li delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.</p><p><blockquote>李在 3 月份交付了 4900 辆 ONE SUV，因此 4 月份确实有更多汽车下线，该公司交付量最好的月份是 12 月份，当时有 6100 多辆汽车下线。</blockquote></p><p> The company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.</p><p><blockquote>该公司的股价在 1 月中旬达到 2021 年的峰值--37.65 美元--也就是 12 月份的数据公布几周后。周一早盘交易中，股价上涨近 2%，至约 20 美元。</blockquote></p><p> This year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.</p><p><blockquote>今年是艰难的一年，到目前为止，李股东。今年迄今为止，股价已下跌约 30%。利率上升、中国电动汽车竞争加剧以及交付停滞都是投资者情绪疲软的原因。</blockquote></p><p> But deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.</p><p><blockquote>但由于半导体短缺，整个行业的交付量正在受到抑制。上周，福特汽车 (F) 估计，由于芯片短缺，其第二季度计划产量将损失 50%。由于不得不削减交付量，福特预计 2021 年营业利润将损失数十亿美元。</blockquote></p><p> Like Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.</p><p><blockquote>与李一样，竞争对手蔚来（蔚来）和小鹏汽车（XPEV）的交付量也在波动。这三家中国电动汽车制造商均在周末公布了交付数据。</blockquote></p><p> And like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.</p><p><blockquote>与理想股票一样，蔚来和小鹏汽车的股价今年迄今均下跌。随着投资者消化交割数据，它们周一也上涨。</blockquote></p><p> Li investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.</p><p><blockquote>当李在 5 月晚些时候公布第一季度业绩时，李投资者将有机会了解更多有关交付前景的信息。</blockquote></p><p></p>","source":"lsy1610680873436","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>Li Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</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\">\nLi Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-05-03 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.</p><p><blockquote>中国电动汽车制造商理想汽车 4 月份的交付量还不错，目前来说已经足够了，但从长远来看还不够。这就是为什么随着全球芯片短缺的持续，投资者对生产水平持谨慎态度。</blockquote></p><p> Li Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.</p><p><blockquote>理想汽车（股票代码：LI）上个月交付了 5,539 辆 Li ONE SUV，同比增长约 111%。但同比增长并不重要，因为李和中国电动汽车同行一样，都是一家高增长公司。更重要的是逐月的连续变化。</blockquote></p><p> Li delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.</p><p><blockquote>李在 3 月份交付了 4900 辆 ONE SUV，因此 4 月份确实有更多汽车下线，该公司交付量最好的月份是 12 月份，当时有 6100 多辆汽车下线。</blockquote></p><p> The company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.</p><p><blockquote>该公司的股价在 1 月中旬达到 2021 年的峰值--37.65 美元--也就是 12 月份的数据公布几周后。周一早盘交易中，股价上涨近 2%，至约 20 美元。</blockquote></p><p> This year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.</p><p><blockquote>今年是艰难的一年，到目前为止，李股东。今年迄今为止，股价已下跌约 30%。利率上升、中国电动汽车竞争加剧以及交付停滞都是投资者情绪疲软的原因。</blockquote></p><p> But deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.</p><p><blockquote>但由于半导体短缺，整个行业的交付量正在受到抑制。上周，福特汽车 (F) 估计，由于芯片短缺，其第二季度计划产量将损失 50%。由于不得不削减交付量，福特预计 2021 年营业利润将损失数十亿美元。</blockquote></p><p> Like Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.</p><p><blockquote>与李一样，竞争对手蔚来（蔚来）和小鹏汽车（XPEV）的交付量也在波动。这三家中国电动汽车制造商均在周末公布了交付数据。</blockquote></p><p> And like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.</p><p><blockquote>与理想股票一样，蔚来和小鹏汽车的股价今年迄今均下跌。随着投资者消化交割数据，它们周一也上涨。</blockquote></p><p> Li investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.</p><p><blockquote>当李在 5 月晚些时候公布第一季度业绩时，李投资者将有机会了解更多有关交付前景的信息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/li-auto-bumped-up-april-deliveries-what-that-bigger-number-means-for-investors-51620052154?mod=hp_LATEST\">Barron's</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":{"LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/li-auto-bumped-up-april-deliveries-what-that-bigger-number-means-for-investors-51620052154?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111515416","content_text":"Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.\nLi Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.\nLi delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.\nThe company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.\nThis year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.\nBut deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.\nLike Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.\nAnd like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.\nLi investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108693217,"gmtCreate":1620016069139,"gmtModify":1634208495049,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Going down","listText":"Going down","text":"Going 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see..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/361345630","repostId":"1197533827","repostType":4,"repost":{"id":"1197533827","kind":"news","pubTimestamp":1614160523,"share":"https://www.laohunote.com/m/news/1197533827?lang=zh_CN&edition=full","pubTime":"2021-02-24 17:55","market":"us","language":"en","title":"The days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子已经结束了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197533827","media":"MarketWatch","summary":"Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-199","content":"<p>Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.</p><p><blockquote>准备好恢复正常。Lucid 的 SPAC 和 ARK Invest 的 ETF 都带有 20 世纪 90 年代末科技泡沫的味道。</blockquote></p><p> Ignore stock valuations and companies’ fundamentals at your peril.</p><p><blockquote>忽视股票估值和公司基本面，后果自负。</blockquote></p><p> Churchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”</p><p><blockquote>丘吉尔资本公司 (Churchill Capital Corp.) 是一家特殊目的收购公司 (SPAC)，曾传言将与特斯拉的崇拜者 Lucid Motors 合并，该公司终于在周一晚上宣布确实会这样做。在华尔街的典型反应中，市场在 “买入谣言 ”许久之后 “卖出了新闻”。</blockquote></p><p> CCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.</p><p><blockquote>CCIV 自作为空白支票公司上市以来上涨了 500%，如今股市已经抹去了周一中午市值的一半。本月早些时候，我曾对这只股票发出警告，认为它是众多应该避免的 “随机数生成器”（RNG）之一。几周来一直以每股 40 美元、50 美元、60 美元甚至 70 美元的价格购买 CCIV 的个人和机构突然看到了价值的巨大缩水。</blockquote></p><p> They’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.</p><p><blockquote>也许他们现在正在环顾四周，看看他们的其他 RNG SPAC，想知道是否真的应该看看估值。</blockquote></p><p> Reviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc.&nbsp;at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.</p><p><blockquote>在更广泛的背景下回顾本周丑陋的股市走势，你可能会注意到，特斯拉公司（Microsoft Inc.</blockquote></p><p> Many questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.</p><p><blockquote>许多有问题的电动汽车股票在本周受到惩罚之前持续上涨了一两周。至少一两天。一个月后回顾一下非 TSLA 电动汽车股票的表现将会很有趣。我预计大多数人的价格会比今天的报价低得多，而今天的报价也比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>打桩成方舟</b></blockquote></p><p> These days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF&nbsp;being the most famous, has performed very well, and her commentary has been spot on for a couple years now.</p><p><blockquote>如今，每个人都想成为方舟投资公司的凯西·伍德。她很早就看好特斯拉和比特币BTCUSD，6.03%，以及我和我的长期追随者比她更早进入的其他一些主题。她积极管理的ETF，方舟创新ETF是最著名的，表现非常好，她的评论已经准确了几年。</blockquote></p><p> But I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since&nbsp;I wrote this in 2001 for TheStreet.com.&nbsp;(I just realized this article was published just two weeks after 9/11.):</p><p><blockquote>但我有个坏消息。尽管我是凯西的粉丝，并祝愿她和她的投资者一切顺利，但我还是忍不住想起了乔治-吉尔德（George Gilder）的故事，自从我于 2001 年为 TheStreet.com 撰写这篇文章以来，几十年来我一直与他成为朋友。(我刚意识到这篇文章是在 9/11 事件发生后两周才发表的）：</blockquote></p><p> <i>“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.</i></p><p><blockquote><i>“投资者在评估投资组合中的公司时需要注意几条规则： 现金为王，因为现金流越来越难以持续判断。因此，只需看一眼一家公司的资产负债表，就能告诉你很多关于它是否值得投资的信息。现在，电信股票每天的大幅上涨已经一去不复返了，任何生存能力存疑的企业的潜在回报都不值得你冒资本的风险。在账面上寻找实际收入。正如科技大师乔治-吉尔德（George Gilder）和他的追随者们所了解到的那样（至少，我希望他们现在已经了解到了），伟大的技术不会转化为伟大的投资。公司需要销售渠道，他们需要有即时用途的产品。你可能会惊讶于我在清单中没有提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司，本季度甚至可能还要几个季度才能盈利，因为他们必须继续根据需求调整产能、员工和库存。</i></blockquote></p><p> <i>Let me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”</i></p><p><blockquote><i>让我在这里重复一遍： 你永远不会看到我们在 20 世纪 90 年代末几乎每天都能看到的那种回报，至少在电信和电信科技股中是这样。这也是为什么这些不断鼓吹坚持到底的科技共同基金人士需要很长时间才能收支平衡的另一个原因。</i></blockquote></p><p> <b>The hangover</b></p><p><blockquote><b>宿醉</b></blockquote></p><p> Telecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.</p><p><blockquote>电信和电信科技股再也没有像 20 世纪 90 年代末那样获得回报。我认为电动汽车股票和凯西·伍德 (Cathie Wood) 和她的盲目追随者如今正在大力投资的许多其他最受欢迎的股票也是如此，因为他们无论估值如何，都将资金投入工作。</blockquote></p><p> Here’s what George had to say&nbsp;in 2002:</p><p><blockquote>以下是乔治在 2002 年所说的话：</blockquote></p><p></p><p> <i>“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.</i></p><p><blockquote><i>“现在回想起来，我显然应该委婉地说，'嘿，JDS Uniphase 的事情已经失控了，你为此付出的代价不值得'，”他说。每个月，他都会考虑向他的订户提供一个警告，但每次他都决定不这样做。他亲眼目睹了其他人所说的 “吉尔德效应 ”：在他将该公司列入名单后，一只股票的大幅飙升。股票价格在通讯发布后一小时内飙升 50% 以上的情况并非闻所未闻。如果我说，'嘿，这是一件上衣，你们都应该卖掉'，那将是一场灾难性的事件，”他说。“我会考虑告诉人们应该卖掉一半的股份，每次我的结论都是，我的订户会被激怒。我还想知道，如果我这样做了，我会引发什么后果”。在吉尔德现在评级的市场 “歇斯底里的高峰期 ”，他的读者中有整整 50% 的人订阅了这份报告。“他说：”我的一半用户会永远感激[警告]，但另一半用户--新用户--会因为他们刚刚进来而被激怒。“太可怕了。我真的不知道该怎么办。”最后他什么也没做。很快，他就有了一套全新的烦恼。“吉尔德说：”过去，我们的投资者会议在两周内就销售一空。“但在 2001 年，我们发出了同样的资料和同样的邀请，有五七个人报名参加了。”他失去了为聚会预订酒店房间的押金。时事通讯续订率直线下降。巨额税单到期了。到 2002 年春天，他已经解雇了近一半的员工。“他说：”前一刻你还非常富有，下一刻你就无法向合伙人支付最后一百万美元，突然之间你的房子就有了留置权。</i></blockquote></p><p> Many of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.</p><p><blockquote>1999 年乔治榜单上的许多最佳股票最终下跌了 99% 或更多。许多人归零了，尽管他们的技术和想法延续并建立了我们现在每天使用的互联网。</blockquote></p><p> CCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.</p><p><blockquote>对于那些忽视估值和基本面的人来说，CCIV 可能预示着更多痛苦。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子已经结束了</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe days of easy money in the stock market are now over<blockquote>股市轻松赚钱的日子已经结束了</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-24 17:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.</p><p><blockquote>准备好恢复正常。Lucid 的 SPAC 和 ARK Invest 的 ETF 都带有 20 世纪 90 年代末科技泡沫的味道。</blockquote></p><p> Ignore stock valuations and companies’ fundamentals at your peril.</p><p><blockquote>忽视股票估值和公司基本面，后果自负。</blockquote></p><p> Churchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”</p><p><blockquote>丘吉尔资本公司 (Churchill Capital Corp.) 是一家特殊目的收购公司 (SPAC)，曾传言将与特斯拉的崇拜者 Lucid Motors 合并，该公司终于在周一晚上宣布确实会这样做。在华尔街的典型反应中，市场在 “买入谣言 ”许久之后 “卖出了新闻”。</blockquote></p><p> CCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.</p><p><blockquote>CCIV 自作为空白支票公司上市以来上涨了 500%，如今股市已经抹去了周一中午市值的一半。本月早些时候，我曾对这只股票发出警告，认为它是众多应该避免的 “随机数生成器”（RNG）之一。几周来一直以每股 40 美元、50 美元、60 美元甚至 70 美元的价格购买 CCIV 的个人和机构突然看到了价值的巨大缩水。</blockquote></p><p> They’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.</p><p><blockquote>也许他们现在正在环顾四周，看看他们的其他 RNG SPAC，想知道是否真的应该看看估值。</blockquote></p><p> Reviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc.&nbsp;at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.</p><p><blockquote>在更广泛的背景下回顾本周丑陋的股市走势，你可能会注意到，特斯拉公司（Microsoft Inc.</blockquote></p><p> Many questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.</p><p><blockquote>许多有问题的电动汽车股票在本周受到惩罚之前持续上涨了一两周。至少一两天。一个月后回顾一下非 TSLA 电动汽车股票的表现将会很有趣。我预计大多数人的价格会比今天的报价低得多，而今天的报价也比上周的报价低得多。</blockquote></p><p> <b>Piling into ARK</b></p><p><blockquote><b>打桩成方舟</b></blockquote></p><p> These days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF&nbsp;being the most famous, has performed very well, and her commentary has been spot on for a couple years now.</p><p><blockquote>如今，每个人都想成为方舟投资公司的凯西·伍德。她很早就看好特斯拉和比特币BTCUSD，6.03%，以及我和我的长期追随者比她更早进入的其他一些主题。她积极管理的ETF，方舟创新ETF是最著名的，表现非常好，她的评论已经准确了几年。</blockquote></p><p> But I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since&nbsp;I wrote this in 2001 for TheStreet.com.&nbsp;(I just realized this article was published just two weeks after 9/11.):</p><p><blockquote>但我有个坏消息。尽管我是凯西的粉丝，并祝愿她和她的投资者一切顺利，但我还是忍不住想起了乔治-吉尔德（George Gilder）的故事，自从我于 2001 年为 TheStreet.com 撰写这篇文章以来，几十年来我一直与他成为朋友。(我刚意识到这篇文章是在 9/11 事件发生后两周才发表的）：</blockquote></p><p> <i>“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.</i></p><p><blockquote><i>“投资者在评估投资组合中的公司时需要注意几条规则： 现金为王，因为现金流越来越难以持续判断。因此，只需看一眼一家公司的资产负债表，就能告诉你很多关于它是否值得投资的信息。现在，电信股票每天的大幅上涨已经一去不复返了，任何生存能力存疑的企业的潜在回报都不值得你冒资本的风险。在账面上寻找实际收入。正如科技大师乔治-吉尔德（George Gilder）和他的追随者们所了解到的那样（至少，我希望他们现在已经了解到了），伟大的技术不会转化为伟大的投资。公司需要销售渠道，他们需要有即时用途的产品。你可能会惊讶于我在清单中没有提到盈利能力。盈利能力自然很重要，但即使是像思科这样的公司，本季度甚至可能还要几个季度才能盈利，因为他们必须继续根据需求调整产能、员工和库存。</i></blockquote></p><p> <i>Let me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”</i></p><p><blockquote><i>让我在这里重复一遍： 你永远不会看到我们在 20 世纪 90 年代末几乎每天都能看到的那种回报，至少在电信和电信科技股中是这样。这也是为什么这些不断鼓吹坚持到底的科技共同基金人士需要很长时间才能收支平衡的另一个原因。</i></blockquote></p><p> <b>The hangover</b></p><p><blockquote><b>宿醉</b></blockquote></p><p> Telecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.</p><p><blockquote>电信和电信科技股再也没有像 20 世纪 90 年代末那样获得回报。我认为电动汽车股票和凯西·伍德 (Cathie Wood) 和她的盲目追随者如今正在大力投资的许多其他最受欢迎的股票也是如此，因为他们无论估值如何，都将资金投入工作。</blockquote></p><p> Here’s what George had to say&nbsp;in 2002:</p><p><blockquote>以下是乔治在 2002 年所说的话：</blockquote></p><p></p><p> <i>“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.</i></p><p><blockquote><i>“现在回想起来，我显然应该委婉地说，'嘿，JDS Uniphase 的事情已经失控了，你为此付出的代价不值得'，”他说。每个月，他都会考虑向他的订户提供一个警告，但每次他都决定不这样做。他亲眼目睹了其他人所说的 “吉尔德效应 ”：在他将该公司列入名单后，一只股票的大幅飙升。股票价格在通讯发布后一小时内飙升 50% 以上的情况并非闻所未闻。如果我说，'嘿，这是一件上衣，你们都应该卖掉'，那将是一场灾难性的事件，”他说。“我会考虑告诉人们应该卖掉一半的股份，每次我的结论都是，我的订户会被激怒。我还想知道，如果我这样做了，我会引发什么后果”。在吉尔德现在评级的市场 “歇斯底里的高峰期 ”，他的读者中有整整 50% 的人订阅了这份报告。“他说：”我的一半用户会永远感激[警告]，但另一半用户--新用户--会因为他们刚刚进来而被激怒。“太可怕了。我真的不知道该怎么办。”最后他什么也没做。很快，他就有了一套全新的烦恼。“吉尔德说：”过去，我们的投资者会议在两周内就销售一空。“但在 2001 年，我们发出了同样的资料和同样的邀请，有五七个人报名参加了。”他失去了为聚会预订酒店房间的押金。时事通讯续订率直线下降。巨额税单到期了。到 2002 年春天，他已经解雇了近一半的员工。“他说：”前一刻你还非常富有，下一刻你就无法向合伙人支付最后一百万美元，突然之间你的房子就有了留置权。</i></blockquote></p><p> Many of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.</p><p><blockquote>1999 年乔治榜单上的许多最佳股票最终下跌了 99% 或更多。许多人归零了，尽管他们的技术和想法延续并建立了我们现在每天使用的互联网。</blockquote></p><p> CCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.</p><p><blockquote>对于那些忽视估值和基本面的人来说，CCIV 可能预示着更多痛苦。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-days-of-easy-money-in-the-stock-market-are-now-over-11614104263?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":{"TSLA":"特斯拉",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","ARKK":"ARK Innovation ETF"},"source_url":"https://www.marketwatch.com/story/the-days-of-easy-money-in-the-stock-market-are-now-over-11614104263?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1197533827","content_text":"Get ready for a return to normal. Lucid’s SPAC and ARK Invest’s ETFs carry the whiff of the late-1990s technology bubble.\nIgnore stock valuations and companies’ fundamentals at your peril.\nChurchill Capital Corp. ,a special purpose acquisition company (SPAC) that had been rumored to merge with a Tesla-wannabe, Lucid Motors, finally announced Monday night that it is indeed going to do so. And in a classic Wall Street reaction, the market “sold the news” after long having “bought the rumor.”\nCCIV was up 500% from when it went public as a blank-check company, and today the stock market has wiped half of what its market value was perceived to be Monday at noon. This is a stock that I had warned about earlier this month as one of the many “Random Number Generators” (RNGs) that should be avoided. People and institutions who had for weeks been buying CCIV at $40, $50, $60 or even $70 per share have suddenly seen a huge wipeout of value.\nThey’re now, maybe, looking around at their other RNG SPACs and wondering if they should actually look at the valuations.\nReviewing this week’s ugly stock-market action in a broader context, you might note that Tesla Inc. at $900 — after the company reported a not-so-great quarter that included some questions about gross margin expansion — is looking like it could have been a top-maker itself.\nMany questionable EV stocks continued to rally for a week or two before getting their comeuppance this week. At least for a day or two. It will be interesting to look back in a month to see what the non-TSLA EV stocks do from here. I expect most to move much lower even than today’s quotes, which are much lower than last week’s quotes.\nPiling into ARK\nThese days everybody wants to be Cathie Wood from ARK Invest. She was an early bull on Tesla and bitcoinBTCUSD,6.03%and some of the the other themes that long-time followers of mine and I got into even earlier than she did. Her actively managed ETF, ARK Innovation ETF being the most famous, has performed very well, and her commentary has been spot on for a couple years now.\nBut I have bad news. Even as I am a fan of Cathie’s and wish her and her investors all the best, I can’t help but think of the story of George Gilder, with whom I’ve become friends in the decades since I wrote this in 2001 for TheStreet.com. (I just realized this article was published just two weeks after 9/11.):\n“Investors need to heed a few rules when evaluating companies in their portfolio: Cash is king, as cash flow becomes increasingly difficult to judge on an ongoing basis. As such, a simple glance at a company’s balance sheet can tell you a lot about whether it’s worthy of investment. Now that the huge daily run-ups of telco stocks are gone forever, the potential rewards of any business with questionable viability aren’t worth the risk of your capital. Look for real revenue on the books. As tech guru George Gilder and his followers have learned (at least, I hope they have by now), great technology doesn’t translate into a great investment. Companies need sales channels, and they need products for which there are immediate uses. You might be surprised that I didn’t mention profitability in that list. Profitability is naturally important, but even companies like Cisco probably won’t be profitable this quarter and perhaps for several more, as they’ll have to continue aligning capacity, employees and inventory with demand.\nLet me repeat the caveat here: You’ll never see the type of returns, at least in telecom and telecom-tech stocks, that we saw almost daily in the late 1990s. That’s another reason why these tech mutual fund guys, who keep preaching to stay the course, will take forever to get back to even.”\nThe hangover\nTelecom and telecom-tech stocks never again saw the kind of returns they did back in the late 1990s. I think the same can be said of EV stocks and many other of the favorites that Cathie Wood and her crowd of blind followers are these days plowing into as they put their money to work regardless of valuations.\nHere’s what George had to say in 2002:\n“In retrospect, it’s obvious that I should’ve subtly said, ‘Hey, things have gotten out of hand at JDS Uniphase, and it’s not worth what you’d have to pay for it,’” he says. Each month, he thought about providing a warning to his subscribers, and he decided against it every time. He had witnessed firsthand what others had dubbed the “Gilder effect”: the steep spike in a stock after he added that company to his list. It wasn’t unheard of for the price of a stock to jump by more than 50 percent within an hour of a newsletter’s release. If I had said, ‘Hey, this is a top, you should all sell,’ it would’ve been a cataclysmic event,” he says. “I’d think about telling people that they should sell half their holdings, and each time I’d conclude that my subscribers would be enraged. I also wondered what I’d precipitate if I did it.” Fully 50 percent of his readers had signed up for the report at what Gilder now calls the “hysterical peak” of the market. “Half of my subscribers would have been eternally grateful [for a warning], but the other half – the new ones – would’ve been enraged because they had just come in,” he says. “It was quite terrifying. I really didn’t know what to do.” In the end he did nothing. And soon enough, he had an entirely new set of distractions to fret over. “In the past, we’d sell out our investor conferences within two weeks,” Gilder says. “But in 2001, we sent out the same literature and the same invitations, and five or seven people signed up.” He lost the deposits that were placed to reserve hotel space for the gatherings. Newsletter renewal rates plummeted. A huge tax bill came due. By spring 2002, he’d laid off nearly half of his staff. “You can be just fabulously flush one moment, and then the next, you can’t make that last million-dollar payment to your partners, and there’s suddenly a lien on your house,” he says.\nMany of the best stocks on George’s list at the top in 1999 ended up going down 99% or more. Many went to zero, even as their technologies and ideas carried on and built the internet we all use every day now.\nCCIV is likely a harbinger of more pain for those who ignore valuations and fundamentals.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"TSLA":0.9,".IXIC":0.9,"ARKK":0.9}},"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378452284,"gmtCreate":1619056866248,"gmtModify":1634288877687,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Not good news","listText":"Not good news","text":"Not good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/378452284","repostId":"2129808688","repostType":4,"isVote":1,"tweetType":1,"viewCount":796,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106928499,"gmtCreate":1620085282211,"gmtModify":1634208018911,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Prospective&nbsp;","listText":"Prospective&nbsp;","text":"Prospective","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106928499","repostId":"1111515416","repostType":4,"repost":{"id":"1111515416","kind":"news","pubTimestamp":1620053095,"share":"https://www.laohunote.com/m/news/1111515416?lang=zh_CN&edition=full","pubTime":"2021-05-03 22:44","market":"us","language":"en","title":"Li Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111515416","media":"Barron's","summary":"Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for righ","content":"<p>Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.</p><p><blockquote>中国电动汽车制造商理想汽车 4 月份的交付量还不错，目前来说已经足够了，但从长远来看还不够。这就是为什么随着全球芯片短缺的持续，投资者对生产水平持谨慎态度。</blockquote></p><p> Li Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.</p><p><blockquote>理想汽车（股票代码：LI）上个月交付了 5,539 辆 Li ONE SUV，同比增长约 111%。但同比增长并不重要，因为李和中国电动汽车同行一样，都是一家高增长公司。更重要的是逐月的连续变化。</blockquote></p><p> Li delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.</p><p><blockquote>李在 3 月份交付了 4900 辆 ONE SUV，因此 4 月份确实有更多汽车下线，该公司交付量最好的月份是 12 月份，当时有 6100 多辆汽车下线。</blockquote></p><p> The company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.</p><p><blockquote>该公司的股价在 1 月中旬达到 2021 年的峰值--37.65 美元--也就是 12 月份的数据公布几周后。周一早盘交易中，股价上涨近 2%，至约 20 美元。</blockquote></p><p> This year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.</p><p><blockquote>今年是艰难的一年，到目前为止，李股东。今年迄今为止，股价已下跌约 30%。利率上升、中国电动汽车竞争加剧以及交付停滞都是投资者情绪疲软的原因。</blockquote></p><p> But deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.</p><p><blockquote>但由于半导体短缺，整个行业的交付量正在受到抑制。上周，福特汽车 (F) 估计，由于芯片短缺，其第二季度计划产量将损失 50%。由于不得不削减交付量，福特预计 2021 年营业利润将损失数十亿美元。</blockquote></p><p> Like Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.</p><p><blockquote>与李一样，竞争对手蔚来（蔚来）和小鹏汽车（XPEV）的交付量也在波动。这三家中国电动汽车制造商均在周末公布了交付数据。</blockquote></p><p> And like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.</p><p><blockquote>与理想股票一样，蔚来和小鹏汽车的股价今年迄今均下跌。随着投资者消化交割数据，它们周一也上涨。</blockquote></p><p> Li investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.</p><p><blockquote>当李在 5 月晚些时候公布第一季度业绩时，李投资者将有机会了解更多有关交付前景的信息。</blockquote></p><p></p>","source":"lsy1610680873436","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>Li Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</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\">\nLi Auto Bumped Up April Deliveries. What That Bigger Number Means for Investors<blockquote>理想汽车提高了四月份的交付量。这个更大的数字对投资者意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-05-03 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.</p><p><blockquote>中国电动汽车制造商理想汽车 4 月份的交付量还不错，目前来说已经足够了，但从长远来看还不够。这就是为什么随着全球芯片短缺的持续，投资者对生产水平持谨慎态度。</blockquote></p><p> Li Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.</p><p><blockquote>理想汽车（股票代码：LI）上个月交付了 5,539 辆 Li ONE SUV，同比增长约 111%。但同比增长并不重要，因为李和中国电动汽车同行一样，都是一家高增长公司。更重要的是逐月的连续变化。</blockquote></p><p> Li delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.</p><p><blockquote>李在 3 月份交付了 4900 辆 ONE SUV，因此 4 月份确实有更多汽车下线，该公司交付量最好的月份是 12 月份，当时有 6100 多辆汽车下线。</blockquote></p><p> The company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.</p><p><blockquote>该公司的股价在 1 月中旬达到 2021 年的峰值--37.65 美元--也就是 12 月份的数据公布几周后。周一早盘交易中，股价上涨近 2%，至约 20 美元。</blockquote></p><p> This year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.</p><p><blockquote>今年是艰难的一年，到目前为止，李股东。今年迄今为止，股价已下跌约 30%。利率上升、中国电动汽车竞争加剧以及交付停滞都是投资者情绪疲软的原因。</blockquote></p><p> But deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.</p><p><blockquote>但由于半导体短缺，整个行业的交付量正在受到抑制。上周，福特汽车 (F) 估计，由于芯片短缺，其第二季度计划产量将损失 50%。由于不得不削减交付量，福特预计 2021 年营业利润将损失数十亿美元。</blockquote></p><p> Like Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.</p><p><blockquote>与李一样，竞争对手蔚来（蔚来）和小鹏汽车（XPEV）的交付量也在波动。这三家中国电动汽车制造商均在周末公布了交付数据。</blockquote></p><p> And like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.</p><p><blockquote>与理想股票一样，蔚来和小鹏汽车的股价今年迄今均下跌。随着投资者消化交割数据，它们周一也上涨。</blockquote></p><p> Li investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.</p><p><blockquote>当李在 5 月晚些时候公布第一季度业绩时，李投资者将有机会了解更多有关交付前景的信息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/li-auto-bumped-up-april-deliveries-what-that-bigger-number-means-for-investors-51620052154?mod=hp_LATEST\">Barron's</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":{"LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/li-auto-bumped-up-april-deliveries-what-that-bigger-number-means-for-investors-51620052154?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111515416","content_text":"Chinese electric vehicle maker Li Auto had an OK number of deliveries for April—good enough for right now—but not good enough for the long haul. And that’s why investors are skittish about production levels as the global chip shortage drags on.\nLi Auto (ticker: LI) delivered 5,539 Li ONE SUVs last month, up about 111% year over year. But the year-over-year increase doesn’t matter that much because Li, along with its Chinese EVs peers, is a high-growth company. What’s a bigger deal are the month-to -month sequential changes.\nLi delivered 4,900 ONE SUVs in March, so more autos did come off the assembly line in April, The company’s best delivery month was December, when more than 6,100 vehicles went out the door.\nThe company’s stock hit its 2021 peak—$37.65— in mid-January, a few weeks after the December figure came out. Shares were up almost 2%, to roughly $20, in early trading Monday.\nThis year has been a tough one, so far, Li stockholders. Shares are down roughly 30% year to date. Higher interest rates, more EV competition in China as well as stagnating deliveries are all reasons for weaker investor sentiment.\nBut deliveries across the industry are being tamped down by the semiconductor shortage. Last week, Ford Motor (F) estimated it will lose 50% of its planned second-quarter production because of a lack of chips. Ford expects to lose billions in 2021 operating profit because of having to slash deliveries.\nLike Li, deliveries are bobbing at rivals NIO (NIO) and XPeng (XPEV). All three Chinese EV makers reported their delivery numbers over the weekend.\nAnd like Li stock, both NIO and XPeng shares are down year to date. They, too, were up Monday as investors digested the delivery data.\nLi investors will have a chance to hear more about the outlook for deliveries when Li reports first-quarter results later in May.","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375488673,"gmtCreate":1619391936192,"gmtModify":1634273935879,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"HreT news&nbsp;","listText":"HreT news&nbsp;","text":"HreT news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/375488673","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379617164,"gmtCreate":1618727295858,"gmtModify":1634291218668,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Long recovery&nbsp;","listText":"Long recovery&nbsp;","text":"Long recovery","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379617164","repostId":"1179330583","repostType":4,"isVote":1,"tweetType":1,"viewCount":742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351489517,"gmtCreate":1616625643239,"gmtModify":1634524904036,"author":{"id":"3575158517410015","authorId":"3575158517410015","name":"TONGYK","avatar":"https://static.tigerbbs.com/28d37c90265e363b003f2fd49bc23a47","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575158517410015","idStr":"3575158517410015"},"themes":[],"title":"","htmlText":"Good game&nbsp;","listText":"Good game&nbsp;","text":"Good game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351489517","repostId":"1146861973","repostType":4,"repost":{"id":"1146861973","kind":"news","pubTimestamp":1616599584,"share":"https://www.laohunote.com/m/news/1146861973?lang=zh_CN&edition=full","pubTime":"2021-03-24 23:26","market":"us","language":"en","title":"Who's at risk if the SPAC frenzy spins out of control<blockquote>如果 SPAC 狂热失控，谁将面临风险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146861973","media":"CNN Business","summary":"London (CNN Business) - Exactly one year ago, with the world in the grip of a deadly pandemic, Wall ","content":"<p><div> London (CNN Business) - Exactly one year ago, with the world in the grip of a deadly pandemic, Wall Street put its Covid-19 fears aside. That jumpstarted a wave of market euphoria that has since fed a...</p><p><blockquote><div>伦敦（CNN Business）——整整一年前，当世界陷入致命的疫情之中时，华尔街抛开了对 Covid-19 的担忧。这引发了一波市场狂热，此后……</div></blockquote></p><p>  <a href=\"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html\">网页连接</a></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>Who's at risk if the SPAC frenzy spins out of control<blockquote>如果 SPAC 狂热失控，谁将面临风险</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\">\nWho's at risk if the SPAC frenzy spins out of control<blockquote>如果 SPAC 狂热失控，谁将面临风险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-03-24 23:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> London (CNN Business) - Exactly one year ago, with the world in the grip of a deadly pandemic, Wall Street put its Covid-19 fears aside. That jumpstarted a wave of market euphoria that has since fed a...</p><p><blockquote><div>伦敦（CNN Business）——整整一年前，当世界陷入致命的疫情之中时，华尔街抛开了对 Covid-19 的担忧。这引发了一波市场狂热，此后……</div></blockquote></p><p>  <a href=\"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/03/24/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146861973","content_text":"London (CNN Business) - Exactly one year ago, with the world in the grip of a deadly pandemic, Wall Street put its Covid-19 fears aside. That jumpstarted a wave of market euphoria that has since fed a boom in unusual activity, from the irrational hype around GameStop shares to a huge bitcoin rally.\nSign of the times: Among the most notable indicators of market mania has been the explosion of special-purpose acquisition companies, or SPACs. So-called \"blank check\" firms, which allow investors to back sponsors that then hunt for a private entity to take public, have raised tens of billions of dollars in 2021, an increase of more than 2,000% compared to 2020.\nThe rich and famous have rushed to get involved, from finance types like Bill Ackman to athletes and celebrities such as Colin Kaepernick and Jay-Z.\n\"Anybody who's anybody has one,\" said Peter Atwater, an adjunct professor of economics at William & Mary. He compared SPACs to another hot accessory in the world of finance — a Patagonia vest.\nMore and more people are sounding the alarm. US regulators have warned that investors shouldn't back SPACs just because there are celebrities attached. Meanwhile, short seller interest in SPACs has jumped, according to data from S3 Partners, indicating that a growing number of traders think the excitement is overblown and share prices are destined to fall.\nStep back: If the SPAC frenzy has gotten out of hand, who pays the price? Experts caution that not everyone will emerge a winner — and some retail investors swept up in the madness could get hurt.\n\"The time for quick money feels like it's now behind us,\" Atwater said.\nOne concern is that there's simply too much SPAC money chasing a limited number of solid takeover targets. That could force owners to consider acquiring less mature companies that may not meet lofty expectations for growth, or to enter into agreements that are less profitable.\n\"There is a tremendous number of SPACs being created every day,\" Will Braeutigam, a partner and SPAC leader at Deloitte, told me. \"With so many SPAC sponsors out there bidding on the same companies, the upside value that you think may be there may not be there.\"\nGuillermo Baygual, co-head of mergers and acquisitions for Europe, the Middle East and Africa at JPMorgan Chase, notes that not all SPACs are created equal. He believes this corner of the market will \"become a more professional asset class over time,\" as investors distinguish between firms with a proven track records and those created just to take advantage of the moment.\nIn the meantime, everyday investors that haven't been discerning could be left holding the bag, according to Atwater. He pointed to a rush to buy shares of SPACs before takeover targets are even announced.\n\"You would think investors would wait to see what [they] buy,\" Atwater said.\nIf a target isn't identified, initial investors will get their standard $10 per share back, Atwater explained. But eager investors that want to get in ahead of a deal and pay $20, $30 or $40 per share on the open market are making bets that are purely speculative.\nSome SPACs will end up as success stories. 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