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Cindypoonyw

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2021-11-11

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Elon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</blockquote>

2021-10-14

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2021-09-22

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2021-08-27

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Snowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</blockquote>

2021-08-05

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Is BP’s shareholder dividend safe?<blockquote>BP的股东股息安全吗？</blockquote>

2021-07-01

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Look back to the first half of the year: U.S. stock indexs hit record high, these stocks are winner<blockquote>回顾上半年：美股指数创新高这些股是赢家</blockquote>

2021-06-30

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2021-06-29

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NIO Stock Is Going Nuts. This Is the Best Explanation.<blockquote>蔚来股票正在疯狂。这是最好的解释。</blockquote>

2021-06-27

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2021-06-26

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These Stocks Could Have ‘Significant Upside’ From Infrastructure Spending<blockquote>这些股票可能因基础设施支出而“显着上涨”</blockquote>

2021-06-25

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2021-06-24

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The Fed's Inflation Gamble Continues<blockquote>美联储通胀豪赌仍在继续</blockquote>

2021-06-22

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2021-06-21

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2021-06-19

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2021-06-18

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2021-06-18

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Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>

2021-06-16

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2021-06-15

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2021-06-14

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14:48","market":"us","language":"en","title":"Elon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186918296","media":"Benzinga","summary":"Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the","content":"<p><div> Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA. What Happened:The mission was launched from NASA’s Kennedy Space Center in ...</p><p><blockquote><div>特斯拉公司首席执行官埃隆·马斯克(ElonMusk)的SpaceX周三与美国宇航局(NASA)合作启动了Crew-3任务。发生了什么：该任务于年从美国宇航局肯尼迪航天中心发射...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</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\">\nElon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-11-11 14:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA. What Happened:The mission was launched from NASA’s Kennedy Space Center in ...</p><p><blockquote><div>特斯拉公司首席执行官埃隆·马斯克(ElonMusk)的SpaceX周三与美国宇航局(NASA)合作启动了Crew-3任务。发生了什么：该任务于年从美国宇航局肯尼迪航天中心发射...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186918296","content_text":"Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA.\nWhat Happened:The mission was launched from NASA’s Kennedy Space Center in Florida at 9:03 p.m. ET for the nearly day-long journey to the International Space Station (ISS).\nThe Crew-3 mission is ferrying NASA astronauts Raja Chari, Tom Marshburn, Kayla Barron, and European Space Agency (ESA) astronaut Matthias Maurer to the ISS.\nSpaceX shared a short clip of the crew on orbit and said it expects autonomous docking at 7 p.m. ET on Thursday.\nCrew-3 is SpaceX’s third operational crewed flight for NASA and the fifth human spaceflight mission that SpaceX has launched since May 2020.\nWhy It Matters:The Crew-3 mission was first scheduled to take place on Oct. 31 but was delayed twice. SpaceX and NASA SpaceX then planned to return the Crew-2 astronauts before the Crew-3 is launched.\nSpaceX on Monday returned the four Crew-2 astronauts who spent about six months in space as part of the agency’s second long-duration crewed flight after launching in April atop a Falcon 9 rocket.\nSpaceX and NASA are working on multiple projects including a $2.9 billion lunar landing contract. Earlier this month,Amazon.com Inc founder Jeff Bezos’ Blue Origin lost the lucrative lawsuit against NASA for awarding the contract to SpaceX.\nMusk dreams of colonizing Mars and has in the past said he remains “highly confident” that SpaceX would land humans on Mars by 2026.\nSpaceX and Blue Origin also compete with each other in the recently launched space tourism flights.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825304040,"gmtCreate":1634197879030,"gmtModify":1634197879249,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/825304040","repostId":"1155791730","repostType":4,"isVote":1,"tweetType":1,"viewCount":2205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":869237656,"gmtCreate":1632290580175,"gmtModify":1632801452597,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869237656","repostId":"2169653385","repostType":4,"isVote":1,"tweetType":1,"viewCount":1337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819323791,"gmtCreate":1630035853113,"gmtModify":1704954974768,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Niceeee","listText":"Niceeee","text":"Niceeee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819323791","repostId":"1177482103","repostType":4,"repost":{"id":"1177482103","kind":"news","pubTimestamp":1630032656,"share":"https://www.laohu8.com/m/news/1177482103?lang=zh_CN&edition=full","pubTime":"2021-08-27 10:50","market":"us","language":"en","title":"Snowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177482103","media":"Thestreet","summary":"Cloud software company Snowflake (SNOW) reported a second-quarter loss of 64 cents a share onrevenue","content":"<p>Cloud software company Snowflake&nbsp;(<b>SNOW</b>)&nbsp;reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.</p><p><blockquote>云软件公司雪花(<b>雪</b>）公布第二季度每股亏损64美分，营收为2.722亿美元，同比增长104%。</blockquote></p><p> Snowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.</p><p><blockquote>Snowflake首席执行官Frank Slootman在“Mad Money”节目中告诉Jim Cramer，Snowflake并没有创造对其产品的需求，而是实现了需求。Slootman说，当技术不再阻碍公司时，Snowflake就有可能实现更多。</blockquote></p><p> Cramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.</p><p><blockquote>Cramer告诉Action Alerts PLUS高级分析师Jeff Marks，Snowflake的“现收现付”使用模式将使财富500强中的每个客户都成为客户。</blockquote></p><p> \"[Snowflake] is the way of the future, right now,\" Cramer said.</p><p><blockquote>“[雪花]现在就是未来的发展方向，”克莱默说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</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\">\nSnowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-08-27 10:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud software company Snowflake&nbsp;(<b>SNOW</b>)&nbsp;reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.</p><p><blockquote>云软件公司雪花(<b>雪</b>）公布第二季度每股亏损64美分，营收为2.722亿美元，同比增长104%。</blockquote></p><p> Snowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.</p><p><blockquote>Snowflake首席执行官Frank Slootman在“Mad Money”节目中告诉Jim Cramer，Snowflake并没有创造对其产品的需求，而是实现了需求。Slootman说，当技术不再阻碍公司时，Snowflake就有可能实现更多。</blockquote></p><p> Cramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.</p><p><blockquote>Cramer告诉Action Alerts PLUS高级分析师Jeff Marks，Snowflake的“现收现付”使用模式将使财富500强中的每个客户都成为客户。</blockquote></p><p> \"[Snowflake] is the way of the future, right now,\" Cramer said.</p><p><blockquote>“[雪花]现在就是未来的发展方向，”克莱默说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/jim-cramer/jim-cramer-snowflake-customers-every-fortune-500-company\">Thestreet</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":{"SNOW":"Snowflake"},"source_url":"https://www.thestreet.com/jim-cramer/jim-cramer-snowflake-customers-every-fortune-500-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177482103","content_text":"Cloud software company Snowflake (SNOW) reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.\nSnowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.\nCramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.\n\"[Snowflake] is the way of the future, right now,\" Cramer said.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1843,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899040098,"gmtCreate":1628145916114,"gmtModify":1631887479395,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/899040098","repostId":"1160204013","repostType":4,"repost":{"id":"1160204013","kind":"news","pubTimestamp":1628145417,"share":"https://www.laohu8.com/m/news/1160204013?lang=zh_CN&edition=full","pubTime":"2021-08-05 14:36","market":"us","language":"en","title":"Is BP’s shareholder dividend safe?<blockquote>BP的股东股息安全吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160204013","media":"The Motley Fool","summary":"With the BP PLC share price near 303p, the forward-looking dividend yield is around 5% for 2022. So,","content":"<p>With the&nbsp;<a href=\"https://laohu8.com/S/BP\">BP PLC</a> share price near 303p, the forward-looking dividend yield is around 5% for 2022. So, is the dividend safe?</p><p><blockquote>与<a href=\"https://laohu8.com/S/BP\">英国石油公司</a>股价接近303便士，2022年前瞻性股息收益率约为5%。那么，股息安全吗？</blockquote></p><p> In attempting to answer that question, I’d first point out the BP dividend hasn’t been safe. For example, the historical dividend yield for 2019 is around 9.7% — higher than the anticipated yield for next year. And the reason for that is the directors have slashed shareholder dividend payments.</p><p><blockquote>在试图回答这个问题时，我首先要指出英国石油公司的股息并不安全。例如，2019年的历史股息收益率约为9.7%，高于明年的预期收益率。原因是董事们大幅削减了股东股息支付。</blockquote></p><p> <h3><b>BP’s shrinking dividends</b></h3> 2019’s dividend was 41 US cents per share, 2020’s 32 cents, and City analysts have pencilled in a payment of around 21 cents for 2022. The direction of travel is clear. And&nbsp;it’s the wrong way!</p><p><blockquote><h3><b>英国石油公司股息缩水</b></h3>2019年的股息为每股41美分，2020年为32美分，金融城分析师预计2022年的股息约为21美分。行进方向明确。而且走错了路！</blockquote></p><p> In fairness, there was a plunge in oil prices in 2020. And that was reflected in a collapse of BP’s operating cash flow. This year, thankfully, the oil price has recovered somewhat and so has BP’s cash flow. Nevertheless, I’m not holding my breath while waiting for the dividend to rise back to former levels. I reckon BP has much greater and longer-term challenges than a mere fluctuating oil price.</p><p><blockquote>公平地说，2020年油价暴跌。这反映在英国石油公司运营现金流的崩溃上。值得庆幸的是，今年油价有所回升，英国石油公司的现金流也有所回升。尽管如此，我并没有屏住呼吸等待股息回升到以前的水平。我认为英国石油公司面临的挑战比单纯的油价波动要大得多、更长期。</blockquote></p><p> After all, the world is trying to move away from using oil. And in the long term, BP’s traditional oil business looks set to decline. I reckon the directors’ previous decisions about shareholder dividends are indicating that uncertain times are ahead for the business. At least, that’s my reading of the situation.</p><p><blockquote>毕竟，世界正试图摆脱使用石油。从长远来看，英国石油公司的传统石油业务似乎将会衰落。我认为董事们之前关于股东股息的决定表明该业务将面临不确定的时期。至少，这是我对形势的解读。</blockquote></p><p> But, of course, BP isn’t just rolling over and waiting to expire. Last Tuesday’s&nbsp;second-quarter report&nbsp;was upbeat about the firm’s progress expanding new lines of business, such as solar power, offshore wind generators, convenience stores, and electric vehicle charging points.</p><p><blockquote>但是，当然，英国石油公司并不只是翻身等待到期。上周二的第二季度报告对该公司拓展太阳能、海上风力发电机、便利店和电动汽车充电站等新业务的进展持乐观态度。</blockquote></p><p> <h3><b>Good progress with the integrated energy strategy</b></h3> Chief executive Bernard Looney said the company is making<i>“good progress”</i>with its strategy to become an integrated energy company. And the strong oil price helped the company deliver a strong financial performance<i>“while investing for the future in a disciplined way.”</i></p><p><blockquote><h3><b>综合能源战略取得良好进展</b></h3>首席执行官伯纳德·鲁尼(Bernard Looney)表示，公司正在<i>“进展良好”</i>其战略是成为一家综合能源公司。强劲的油价帮助该公司实现了强劲的财务业绩<i>“同时以有纪律的方式为未来投资。”</i></blockquote></p><p> BP actually increased its quarterly dividend by 4% and pledged to begin a $1.4bn share buyback programme. Looney said surplus first-half cash flow would finance the moves. But I reckon using the word ‘surplus’ is questionable. After all, BP still carried a net debt pile of around $33bn at the end of the second quarter despite managing to reduce its borrowings a fair bit in the period.</p><p><blockquote>BP实际上将季度股息提高了4%，并承诺启动14亿美元的股票回购计划。鲁尼表示，上半年现金流盈余将为这些举措提供资金。但我认为使用“盈余”这个词是有问题的。毕竟，尽管BP在此期间设法大幅减少了借款，但截至第二季度末，其净债务仍约为330亿美元。</blockquote></p><p> When it comes to cash flow, the strong oil price is BP’s friend. But oil prices are more than capable of cycling down again. And it will probably be years before alternative lines of business render the effects of oil revenue insignificant.</p><p><blockquote>说到现金流，强劲的油价是英国石油公司的朋友。但油价完全有能力再次下跌。替代业务线可能还需要数年时间才能使石油收入的影响变得微不足道。</blockquote></p><p> BP’s future looks to me like it will involve growing its new, green energy businesses and managing the decline of its old oil business. It’s possible the overall BP business will grow as a net result in the years ahead.</p><p><blockquote>在我看来，英国石油公司的未来将涉及发展其新的绿色能源业务和管理其旧石油业务的衰落。未来几年，英国石油公司的整体业务可能会净增长。</blockquote></p><p> But, to me, the company’s future looks uncertain. So I’m not selecting the stock as one of my dividend-led investments.</p><p><blockquote>但是，对我来说，公司的未来看起来不确定。因此，我不会选择该股票作为我的股息主导投资之一。</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>Is BP’s shareholder dividend safe?<blockquote>BP的股东股息安全吗？</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\">\nIs BP’s shareholder dividend safe?<blockquote>BP的股东股息安全吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Motley Fool</strong><span class=\"h-time small\">2021-08-05 14:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the&nbsp;<a href=\"https://laohu8.com/S/BP\">BP PLC</a> share price near 303p, the forward-looking dividend yield is around 5% for 2022. So, is the dividend safe?</p><p><blockquote>与<a href=\"https://laohu8.com/S/BP\">英国石油公司</a>股价接近303便士，2022年前瞻性股息收益率约为5%。那么，股息安全吗？</blockquote></p><p> In attempting to answer that question, I’d first point out the BP dividend hasn’t been safe. For example, the historical dividend yield for 2019 is around 9.7% — higher than the anticipated yield for next year. And the reason for that is the directors have slashed shareholder dividend payments.</p><p><blockquote>在试图回答这个问题时，我首先要指出英国石油公司的股息并不安全。例如，2019年的历史股息收益率约为9.7%，高于明年的预期收益率。原因是董事们大幅削减了股东股息支付。</blockquote></p><p> <h3><b>BP’s shrinking dividends</b></h3> 2019’s dividend was 41 US cents per share, 2020’s 32 cents, and City analysts have pencilled in a payment of around 21 cents for 2022. The direction of travel is clear. And&nbsp;it’s the wrong way!</p><p><blockquote><h3><b>英国石油公司股息缩水</b></h3>2019年的股息为每股41美分，2020年为32美分，金融城分析师预计2022年的股息约为21美分。行进方向明确。而且走错了路！</blockquote></p><p> In fairness, there was a plunge in oil prices in 2020. And that was reflected in a collapse of BP’s operating cash flow. This year, thankfully, the oil price has recovered somewhat and so has BP’s cash flow. Nevertheless, I’m not holding my breath while waiting for the dividend to rise back to former levels. I reckon BP has much greater and longer-term challenges than a mere fluctuating oil price.</p><p><blockquote>公平地说，2020年油价暴跌。这反映在英国石油公司运营现金流的崩溃上。值得庆幸的是，今年油价有所回升，英国石油公司的现金流也有所回升。尽管如此，我并没有屏住呼吸等待股息回升到以前的水平。我认为英国石油公司面临的挑战比单纯的油价波动要大得多、更长期。</blockquote></p><p> After all, the world is trying to move away from using oil. And in the long term, BP’s traditional oil business looks set to decline. I reckon the directors’ previous decisions about shareholder dividends are indicating that uncertain times are ahead for the business. At least, that’s my reading of the situation.</p><p><blockquote>毕竟，世界正试图摆脱使用石油。从长远来看，英国石油公司的传统石油业务似乎将会衰落。我认为董事们之前关于股东股息的决定表明该业务将面临不确定的时期。至少，这是我对形势的解读。</blockquote></p><p> But, of course, BP isn’t just rolling over and waiting to expire. Last Tuesday’s&nbsp;second-quarter report&nbsp;was upbeat about the firm’s progress expanding new lines of business, such as solar power, offshore wind generators, convenience stores, and electric vehicle charging points.</p><p><blockquote>但是，当然，英国石油公司并不只是翻身等待到期。上周二的第二季度报告对该公司拓展太阳能、海上风力发电机、便利店和电动汽车充电站等新业务的进展持乐观态度。</blockquote></p><p> <h3><b>Good progress with the integrated energy strategy</b></h3> Chief executive Bernard Looney said the company is making<i>“good progress”</i>with its strategy to become an integrated energy company. And the strong oil price helped the company deliver a strong financial performance<i>“while investing for the future in a disciplined way.”</i></p><p><blockquote><h3><b>综合能源战略取得良好进展</b></h3>首席执行官伯纳德·鲁尼(Bernard Looney)表示，公司正在<i>“进展良好”</i>其战略是成为一家综合能源公司。强劲的油价帮助该公司实现了强劲的财务业绩<i>“同时以有纪律的方式为未来投资。”</i></blockquote></p><p> BP actually increased its quarterly dividend by 4% and pledged to begin a $1.4bn share buyback programme. Looney said surplus first-half cash flow would finance the moves. But I reckon using the word ‘surplus’ is questionable. After all, BP still carried a net debt pile of around $33bn at the end of the second quarter despite managing to reduce its borrowings a fair bit in the period.</p><p><blockquote>BP实际上将季度股息提高了4%，并承诺启动14亿美元的股票回购计划。鲁尼表示，上半年现金流盈余将为这些举措提供资金。但我认为使用“盈余”这个词是有问题的。毕竟，尽管BP在此期间设法大幅减少了借款，但截至第二季度末，其净债务仍约为330亿美元。</blockquote></p><p> When it comes to cash flow, the strong oil price is BP’s friend. But oil prices are more than capable of cycling down again. And it will probably be years before alternative lines of business render the effects of oil revenue insignificant.</p><p><blockquote>说到现金流，强劲的油价是英国石油公司的朋友。但油价完全有能力再次下跌。替代业务线可能还需要数年时间才能使石油收入的影响变得微不足道。</blockquote></p><p> BP’s future looks to me like it will involve growing its new, green energy businesses and managing the decline of its old oil business. It’s possible the overall BP business will grow as a net result in the years ahead.</p><p><blockquote>在我看来，英国石油公司的未来将涉及发展其新的绿色能源业务和管理其旧石油业务的衰落。未来几年，英国石油公司的整体业务可能会净增长。</blockquote></p><p> But, to me, the company’s future looks uncertain. So I’m not selecting the stock as one of my dividend-led investments.</p><p><blockquote>但是，对我来说，公司的未来看起来不确定。因此，我不会选择该股票作为我的股息主导投资之一。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.co.uk/investing/2021/08/05/is-bps-shareholder-dividend-safe/\">The Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BP":"英国石油","BP..UK":"BP PLC"},"source_url":"https://www.fool.co.uk/investing/2021/08/05/is-bps-shareholder-dividend-safe/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160204013","content_text":"With the BP PLC share price near 303p, the forward-looking dividend yield is around 5% for 2022. So, is the dividend safe?\nIn attempting to answer that question, I’d first point out the BP dividend hasn’t been safe. For example, the historical dividend yield for 2019 is around 9.7% — higher than the anticipated yield for next year. And the reason for that is the directors have slashed shareholder dividend payments.\nBP’s shrinking dividends\n2019’s dividend was 41 US cents per share, 2020’s 32 cents, and City analysts have pencilled in a payment of around 21 cents for 2022. The direction of travel is clear. And it’s the wrong way!\nIn fairness, there was a plunge in oil prices in 2020. And that was reflected in a collapse of BP’s operating cash flow. This year, thankfully, the oil price has recovered somewhat and so has BP’s cash flow. Nevertheless, I’m not holding my breath while waiting for the dividend to rise back to former levels. I reckon BP has much greater and longer-term challenges than a mere fluctuating oil price.\nAfter all, the world is trying to move away from using oil. And in the long term, BP’s traditional oil business looks set to decline. I reckon the directors’ previous decisions about shareholder dividends are indicating that uncertain times are ahead for the business. At least, that’s my reading of the situation.\nBut, of course, BP isn’t just rolling over and waiting to expire. Last Tuesday’s second-quarter report was upbeat about the firm’s progress expanding new lines of business, such as solar power, offshore wind generators, convenience stores, and electric vehicle charging points.\nGood progress with the integrated energy strategy\nChief executive Bernard Looney said the company is making“good progress”with its strategy to become an integrated energy company. And the strong oil price helped the company deliver a strong financial performance“while investing for the future in a disciplined way.”\nBP actually increased its quarterly dividend by 4% and pledged to begin a $1.4bn share buyback programme. Looney said surplus first-half cash flow would finance the moves. But I reckon using the word ‘surplus’ is questionable. After all, BP still carried a net debt pile of around $33bn at the end of the second quarter despite managing to reduce its borrowings a fair bit in the period.\nWhen it comes to cash flow, the strong oil price is BP’s friend. But oil prices are more than capable of cycling down again. And it will probably be years before alternative lines of business render the effects of oil revenue insignificant.\nBP’s future looks to me like it will involve growing its new, green energy businesses and managing the decline of its old oil business. It’s possible the overall BP business will grow as a net result in the years ahead.\nBut, to me, the company’s future looks uncertain. So I’m not selecting the stock as one of my dividend-led investments.","news_type":1,"symbols_score_info":{"BP..UK":0.9,"BP":0.9}},"isVote":1,"tweetType":1,"viewCount":1793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158955448,"gmtCreate":1625125847984,"gmtModify":1631887479404,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158955448","repostId":"1115261715","repostType":4,"repost":{"id":"1115261715","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":1625125255,"share":"https://www.laohu8.com/m/news/1115261715?lang=zh_CN&edition=full","pubTime":"2021-07-01 15:40","market":"us","language":"en","title":"Look back to the first half of the year: U.S. stock indexs hit record high, these stocks are winner<blockquote>回顾上半年：美股指数创新高这些股是赢家</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115261715","media":"Tiger Newspress","summary":"(July 1) The global market officially ended in the first half of the year. On the whole, the French ","content":"<p>(July&nbsp;1)&nbsp;The global market officially ended in the first half of the year. On the whole, the French CAC 40 index took the lead with an increase of 17.2%; the S&amp;P 500 index and the Eurozone Stoxx 50 index increased by 14.4% Tied for second place; followed by the Mexico Composite Index and the German DAX 30 Index, with gains of 14.1% and 13.2%, respectively.</p><p><blockquote>（7月1日）上半年全球市场正式收官。整体来看，法国CAC 40指数以17.2%的涨幅领跑；标普500指数和欧元区斯托克50指数上涨14.4%并列第二；其次是墨西哥综合指数和德国DAX 30指数，涨幅分别为14.1%和13.2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0699623d049666a5b8b1af052f8e0d8\" tg-width=\"670\" tg-height=\"1408\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>U.S. stock indexes hit record high, energy stocks are winners</b></p><p><blockquote><b>美股指数创历史新高能源股成赢家</b></blockquote></p><p> U.S. stocks in the first half of the year generally showed a trend of volatility and upward movement. The three major indexes jointly set a new record high. The S&amp;P 500 index rose by 14.41% in the first half of the year, which has outperformed the index's average annual growth rate of 11% in the past two decades, and far outpaced the 4% increase in the first half of last year; the Nasdaq index rose by 12.54 % in the first half of the year, the Dow Jones index rose 12.73%.</p><p><blockquote>上半年美股总体呈现震荡上行的态势。三大指数联手刷新历史新高。标普500指数上半年上涨14.41%，跑赢该指数过去二十年11%的年均增速，也远超去年上半年4%的涨幅；纳斯达克指数上半年上涨12.54%，道琼斯指数上涨12.73%。</blockquote></p><p> From the perspective of sectors and individual stocks, \"economic recovery\" and \"increasing inflation\" are the two main factors&nbsp;that dominated the U.S. stock market in the first half of the year. Under the influence of these two main factors, energy stocks, finance stocks and real estate stocks outperformed other sectors.</p><p><blockquote>从板块和个股来看，“经济复苏”和“通胀加剧”是主导上半年美股市场的两大主要因素。在这两个主要因素的影响下，能源股、金融股和地产股跑赢其他板块。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4697acc988167e0c0adfe0713ce52b64\" tg-width=\"1924\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the first half of this year, with the gradual promotion of the global vaccinations against the new crown, China took the lead in getting out of the shadow of the epidemic, and many European and American countries have gradually begun to loosen their blockades. With the recovery of global economy and the rebound in demand for commodities, especially the rapid rise in energy demand, Brent crude oil is the best performing asset in the first half of the year, with a yield of 44.32%.</p><p><blockquote>今年上半年，随着全球新冠疫苗接种逐步推进，中国率先走出疫情阴影，欧美多国也逐渐开始松绑封锁。随着全球经济复苏，大宗商品需求回升，尤其是能源需求快速上升，布伦特原油是上半年表现最好的资产，收益率高达44.32%。</blockquote></p><p> Benefiting from the explosion of demand, US energy stocks are also the top performers. Among the S&amp;P 500 constituent stocks, five of the top ten gainers are energy stocks. Among them, Marathon Petroleum ranked first with a half-year increase of 105.55%. The other four are Diamondback Energy, Devon Energy, Occidental Petroleum and EOG Energy, with increases of 96.07%, 91.64%, 80.77% and 69.30% respectively.</p><p><blockquote>受益于需求爆发，美股能源股也表现居前。标普500成分股中，涨幅前十中有五只为能源股。其中，马拉松石油以105.55%的半年涨幅排名第一。另外四家分别是响尾蛇能源、德文能源、西方石油和EOG能源，涨幅分别为96.07%、91.64%、80.77%和69.30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf9454f083cdbfc0296a0d9c53d53fe6\" tg-width=\"1924\" tg-height=\"1082\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In addition, among the constituent stocks of the Dow, energy stocks are also among the top performers. Chevron ranked fourth with an increase of 27.32%, and Caterpillar ranked eighth with an increase of 20.74%. Among the constituent stocks of the Dow, the performance of bank stocks is also remarkable.</p><p><blockquote>此外，在道指成分股中，能源股也表现居前。雪佛龙以27.32%的涨幅排名第四，卡特彼勒以20.74%的涨幅排名第八。在道指成分股中，银行股的表现也可圈可点。</blockquote></p><p> Bank stocks performed very well during the epidemic, with the help of legislators and the Federal Reserve. Three of the top five companies in the Dow's gainers are bank stocks. Among them, Goldman Sachs ranked first with increaing 44.97%; American Express ranked second with a 37.55% increase, and JPMorgan Chase ranked fifth with a 24.01% increase.</p><p><blockquote>在立法者和美联储的帮助下，银行股在疫情期间表现非常出色。道指涨幅前五的公司中有三家是银行股。其中，高盛以44.97%的涨幅位居第一；美国运通以37.55%的涨幅位居第二，摩根大通以24.01%的涨幅位居第五。</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>Look back to the first half of the year: U.S. stock indexs hit record high, these stocks are winner<blockquote>回顾上半年：美股指数创新高这些股是赢家</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\">\nLook back to the first half of the year: U.S. stock indexs hit record high, these stocks are winner<blockquote>回顾上半年：美股指数创新高这些股是赢家</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-01 15:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July&nbsp;1)&nbsp;The global market officially ended in the first half of the year. On the whole, the French CAC 40 index took the lead with an increase of 17.2%; the S&amp;P 500 index and the Eurozone Stoxx 50 index increased by 14.4% Tied for second place; followed by the Mexico Composite Index and the German DAX 30 Index, with gains of 14.1% and 13.2%, respectively.</p><p><blockquote>（7月1日）上半年全球市场正式收官。整体来看，法国CAC 40指数以17.2%的涨幅领跑；标普500指数和欧元区斯托克50指数上涨14.4%并列第二；其次是墨西哥综合指数和德国DAX 30指数，涨幅分别为14.1%和13.2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0699623d049666a5b8b1af052f8e0d8\" tg-width=\"670\" tg-height=\"1408\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>U.S. stock indexes hit record high, energy stocks are winners</b></p><p><blockquote><b>美股指数创历史新高能源股成赢家</b></blockquote></p><p> U.S. stocks in the first half of the year generally showed a trend of volatility and upward movement. The three major indexes jointly set a new record high. The S&amp;P 500 index rose by 14.41% in the first half of the year, which has outperformed the index's average annual growth rate of 11% in the past two decades, and far outpaced the 4% increase in the first half of last year; the Nasdaq index rose by 12.54 % in the first half of the year, the Dow Jones index rose 12.73%.</p><p><blockquote>上半年美股总体呈现震荡上行的态势。三大指数联手刷新历史新高。标普500指数上半年上涨14.41%，跑赢该指数过去二十年11%的年均增速，也远超去年上半年4%的涨幅；纳斯达克指数上半年上涨12.54%，道琼斯指数上涨12.73%。</blockquote></p><p> From the perspective of sectors and individual stocks, \"economic recovery\" and \"increasing inflation\" are the two main factors&nbsp;that dominated the U.S. stock market in the first half of the year. Under the influence of these two main factors, energy stocks, finance stocks and real estate stocks outperformed other sectors.</p><p><blockquote>从板块和个股来看，“经济复苏”和“通胀加剧”是主导上半年美股市场的两大主要因素。在这两个主要因素的影响下，能源股、金融股和地产股跑赢其他板块。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4697acc988167e0c0adfe0713ce52b64\" tg-width=\"1924\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the first half of this year, with the gradual promotion of the global vaccinations against the new crown, China took the lead in getting out of the shadow of the epidemic, and many European and American countries have gradually begun to loosen their blockades. With the recovery of global economy and the rebound in demand for commodities, especially the rapid rise in energy demand, Brent crude oil is the best performing asset in the first half of the year, with a yield of 44.32%.</p><p><blockquote>今年上半年，随着全球新冠疫苗接种逐步推进，中国率先走出疫情阴影，欧美多国也逐渐开始松绑封锁。随着全球经济复苏，大宗商品需求回升，尤其是能源需求快速上升，布伦特原油是上半年表现最好的资产，收益率高达44.32%。</blockquote></p><p> Benefiting from the explosion of demand, US energy stocks are also the top performers. Among the S&amp;P 500 constituent stocks, five of the top ten gainers are energy stocks. Among them, Marathon Petroleum ranked first with a half-year increase of 105.55%. The other four are Diamondback Energy, Devon Energy, Occidental Petroleum and EOG Energy, with increases of 96.07%, 91.64%, 80.77% and 69.30% respectively.</p><p><blockquote>受益于需求爆发，美股能源股也表现居前。标普500成分股中，涨幅前十中有五只为能源股。其中，马拉松石油以105.55%的半年涨幅排名第一。另外四家分别是响尾蛇能源、德文能源、西方石油和EOG能源，涨幅分别为96.07%、91.64%、80.77%和69.30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf9454f083cdbfc0296a0d9c53d53fe6\" tg-width=\"1924\" tg-height=\"1082\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In addition, among the constituent stocks of the Dow, energy stocks are also among the top performers. Chevron ranked fourth with an increase of 27.32%, and Caterpillar ranked eighth with an increase of 20.74%. Among the constituent stocks of the Dow, the performance of bank stocks is also remarkable.</p><p><blockquote>此外，在道指成分股中，能源股也表现居前。雪佛龙以27.32%的涨幅排名第四，卡特彼勒以20.74%的涨幅排名第八。在道指成分股中，银行股的表现也可圈可点。</blockquote></p><p> Bank stocks performed very well during the epidemic, with the help of legislators and the Federal Reserve. Three of the top five companies in the Dow's gainers are bank stocks. Among them, Goldman Sachs ranked first with increaing 44.97%; American Express ranked second with a 37.55% increase, and JPMorgan Chase ranked fifth with a 24.01% increase.</p><p><blockquote>在立法者和美联储的帮助下，银行股在疫情期间表现非常出色。道指涨幅前五的公司中有三家是银行股。其中，高盛以44.97%的涨幅位居第一；美国运通以37.55%的涨幅位居第二，摩根大通以24.01%的涨幅位居第五。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115261715","content_text":"(July 1) The global market officially ended in the first half of the year. On the whole, the French CAC 40 index took the lead with an increase of 17.2%; the S&P 500 index and the Eurozone Stoxx 50 index increased by 14.4% Tied for second place; followed by the Mexico Composite Index and the German DAX 30 Index, with gains of 14.1% and 13.2%, respectively.\n\nU.S. stock indexes hit record high, energy stocks are winners\nU.S. stocks in the first half of the year generally showed a trend of volatility and upward movement. The three major indexes jointly set a new record high. The S&P 500 index rose by 14.41% in the first half of the year, which has outperformed the index's average annual growth rate of 11% in the past two decades, and far outpaced the 4% increase in the first half of last year; the Nasdaq index rose by 12.54 % in the first half of the year, the Dow Jones index rose 12.73%.\nFrom the perspective of sectors and individual stocks, \"economic recovery\" and \"increasing inflation\" are the two main factors that dominated the U.S. stock market in the first half of the year. Under the influence of these two main factors, energy stocks, finance stocks and real estate stocks outperformed other sectors.\n\nIn the first half of this year, with the gradual promotion of the global vaccinations against the new crown, China took the lead in getting out of the shadow of the epidemic, and many European and American countries have gradually begun to loosen their blockades. With the recovery of global economy and the rebound in demand for commodities, especially the rapid rise in energy demand, Brent crude oil is the best performing asset in the first half of the year, with a yield of 44.32%.\nBenefiting from the explosion of demand, US energy stocks are also the top performers. Among the S&P 500 constituent stocks, five of the top ten gainers are energy stocks. Among them, Marathon Petroleum ranked first with a half-year increase of 105.55%. The other four are Diamondback Energy, Devon Energy, Occidental Petroleum and EOG Energy, with increases of 96.07%, 91.64%, 80.77% and 69.30% respectively.\n\nIn addition, among the constituent stocks of the Dow, energy stocks are also among the top performers. Chevron ranked fourth with an increase of 27.32%, and Caterpillar ranked eighth with an increase of 20.74%. Among the constituent stocks of the Dow, the performance of bank stocks is also remarkable.\nBank stocks performed very well during the epidemic, with the help of legislators and the Federal Reserve. Three of the top five companies in the Dow's gainers are bank stocks. Among them, Goldman Sachs ranked first with increaing 44.97%; American Express ranked second with a 37.55% increase, and JPMorgan Chase ranked fifth with a 24.01% increase.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153537197,"gmtCreate":1625033562619,"gmtModify":1631887479415,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/153537197","repostId":"1174730802","repostType":4,"isVote":1,"tweetType":1,"viewCount":1857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159319429,"gmtCreate":1624940953561,"gmtModify":1631887479425,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159319429","repostId":"1113711731","repostType":4,"repost":{"id":"1113711731","kind":"news","pubTimestamp":1624937958,"share":"https://www.laohu8.com/m/news/1113711731?lang=zh_CN&edition=full","pubTime":"2021-06-29 11:39","market":"us","language":"en","title":"NIO Stock Is Going Nuts. This Is the Best Explanation.<blockquote>蔚来股票正在疯狂。这是最好的解释。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113711731","media":"Barrons","summary":"Stock in Chinese electric vehicle maker NIO is on fire. While a surge in the volume of options tradi","content":"<p>Stock in Chinese electric vehicle maker&nbsp;NIO&nbsp;is&nbsp;on fire. While a surge in the volume of options trading isn’t a perfect explanation for the rally, it certainlyhelped shares soaron Monday.</p><p><blockquote>中国电动汽车制造商蔚来的股票着火了。虽然期权交易量的激增并不能完美解释此次上涨，但它无疑帮助周一股价飙升。</blockquote></p><p> NIO (ticker: NIO) stock gained almost 10% Monday and shares are up 28% over the past month. The&nbsp;S&amp;P 500,for comparison, rose 0.2% Monday and is up 2% over the past month. Call options volume, which rose almost 200% on Monday compared to Friday, is perhaps the biggest reason NIO shares might be more volatile.</p><p><blockquote>蔚来（股票代码：蔚来）股价周一上涨近10%，过去一个月股价上涨28%。相比之下，标准普尔500指数周一上涨0.2%，过去一个月上涨2%。看涨期权期权交易量周一较周五增长近200%，这可能是蔚来股价波动更大的最大原因。</blockquote></p><p> Call options give the holder the right to buy a stock at a fixed price. (Buying a call is a bullish take on the underlying stock.) Brokers will sell and trade options contracts because they want to earn a commission on a trade. But brokers don’t want to be short a call option, which means they’ll have to take a loss if the stock rises.</p><p><blockquote>看涨期权期权赋予持有人以固定价格购买股票的权利。（购买看涨期权是对标的股票的看涨。）经纪人会出售和交易期权合约，因为他们想从交易中赚取佣金。但经纪人不想做空看涨期权期权，这意味着如果股票上涨，他们将不得不承担损失。</blockquote></p><p> One way brokers can hedge options positions is to buy the underlying stock. If a broker sells a call and buys the stock, they can earn the options commission and, if the stock rises, they can deliver the stock purchased to the call holder. In that scenario, the broker doesn’t have to buy shares at a higher price. That process is one way higher-than-average call buying can drive buying in the underlying stock.</p><p><blockquote>经纪商对冲期权头寸的一种方法是购买标的股票。如果经纪人卖出看涨期权并买入股票，他们可以赚取期权佣金，如果股票上涨，他们可以将购买的股票交付给看涨期权持有者。在这种情况下，经纪人不必以更高的价格购买股票。这一过程是高于平均水平的看涨期权购买量推动标的股票购买的一种方式。</blockquote></p><p> Other factors don’t seem to be at play. Wall Street, for example, can’t be credited with the rally. The average analystprice targetfor NIO stock is up about 1% over the past month and not much has happened to those targets since the companyreported earningsat the end of April. Looking back to that point, the average analyst price target has gone up about $1 to a little more than $59 a share.</p><p><blockquote>其他因素似乎没有起作用。例如，华尔街不能被认为是这次反弹的功劳。分析师对蔚来股票的平均目标价在过去一个月上涨了约1%，自该公司4月底公布收益以来，这些目标并没有发生太大变化。回顾当时，分析师的平均目标价已上涨约1美元，至每股59美元多一点。</blockquote></p><p> News doesn’t seem to be a credible reason for NIO’s rally, either. The last release on NIO’s website is fromJune 1when the company reported May deliveries. Those numbers relieved investors because the electric vehicle company maintained second-quarter delivery guidance despite a global automotive semiconductor shortage that has roiled the entire industry.</p><p><blockquote>新闻似乎也不是蔚来上涨的可信原因。蔚来网站上的最后一次发布是在6月1日，当时该公司报告了5月份的交付量。这些数字让投资者松了一口气，因为尽管全球汽车半导体短缺扰乱了整个行业，但这家电动汽车公司仍维持了第二季度的交付指引。</blockquote></p><p> NIO shares are now up 1% year to date. It’s been a wild ride so far in 2021. Based on recent trading, the ride will continue.</p><p><blockquote>蔚来股价今年迄今已上涨1%。2021年到目前为止，这是一次疯狂的旅程。根据最近的交易，这一过程将继续下去。</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>NIO Stock Is Going Nuts. This Is the Best Explanation.<blockquote>蔚来股票正在疯狂。这是最好的解释。</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\">\nNIO Stock Is Going Nuts. This Is the Best Explanation.<blockquote>蔚来股票正在疯狂。这是最好的解释。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-29 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock in Chinese electric vehicle maker&nbsp;NIO&nbsp;is&nbsp;on fire. While a surge in the volume of options trading isn’t a perfect explanation for the rally, it certainlyhelped shares soaron Monday.</p><p><blockquote>中国电动汽车制造商蔚来的股票着火了。虽然期权交易量的激增并不能完美解释此次上涨，但它无疑帮助周一股价飙升。</blockquote></p><p> NIO (ticker: NIO) stock gained almost 10% Monday and shares are up 28% over the past month. The&nbsp;S&amp;P 500,for comparison, rose 0.2% Monday and is up 2% over the past month. Call options volume, which rose almost 200% on Monday compared to Friday, is perhaps the biggest reason NIO shares might be more volatile.</p><p><blockquote>蔚来（股票代码：蔚来）股价周一上涨近10%，过去一个月股价上涨28%。相比之下，标准普尔500指数周一上涨0.2%，过去一个月上涨2%。看涨期权期权交易量周一较周五增长近200%，这可能是蔚来股价波动更大的最大原因。</blockquote></p><p> Call options give the holder the right to buy a stock at a fixed price. (Buying a call is a bullish take on the underlying stock.) Brokers will sell and trade options contracts because they want to earn a commission on a trade. But brokers don’t want to be short a call option, which means they’ll have to take a loss if the stock rises.</p><p><blockquote>看涨期权期权赋予持有人以固定价格购买股票的权利。（购买看涨期权是对标的股票的看涨。）经纪人会出售和交易期权合约，因为他们想从交易中赚取佣金。但经纪人不想做空看涨期权期权，这意味着如果股票上涨，他们将不得不承担损失。</blockquote></p><p> One way brokers can hedge options positions is to buy the underlying stock. If a broker sells a call and buys the stock, they can earn the options commission and, if the stock rises, they can deliver the stock purchased to the call holder. In that scenario, the broker doesn’t have to buy shares at a higher price. That process is one way higher-than-average call buying can drive buying in the underlying stock.</p><p><blockquote>经纪商对冲期权头寸的一种方法是购买标的股票。如果经纪人卖出看涨期权并买入股票，他们可以赚取期权佣金，如果股票上涨，他们可以将购买的股票交付给看涨期权持有者。在这种情况下，经纪人不必以更高的价格购买股票。这一过程是高于平均水平的看涨期权购买量推动标的股票购买的一种方式。</blockquote></p><p> Other factors don’t seem to be at play. Wall Street, for example, can’t be credited with the rally. The average analystprice targetfor NIO stock is up about 1% over the past month and not much has happened to those targets since the companyreported earningsat the end of April. Looking back to that point, the average analyst price target has gone up about $1 to a little more than $59 a share.</p><p><blockquote>其他因素似乎没有起作用。例如，华尔街不能被认为是这次反弹的功劳。分析师对蔚来股票的平均目标价在过去一个月上涨了约1%，自该公司4月底公布收益以来，这些目标并没有发生太大变化。回顾当时，分析师的平均目标价已上涨约1美元，至每股59美元多一点。</blockquote></p><p> News doesn’t seem to be a credible reason for NIO’s rally, either. The last release on NIO’s website is fromJune 1when the company reported May deliveries. Those numbers relieved investors because the electric vehicle company maintained second-quarter delivery guidance despite a global automotive semiconductor shortage that has roiled the entire industry.</p><p><blockquote>新闻似乎也不是蔚来上涨的可信原因。蔚来网站上的最后一次发布是在6月1日，当时该公司报告了5月份的交付量。这些数字让投资者松了一口气，因为尽管全球汽车半导体短缺扰乱了整个行业，但这家电动汽车公司仍维持了第二季度的交付指引。</blockquote></p><p> NIO shares are now up 1% year to date. It’s been a wild ride so far in 2021. Based on recent trading, the ride will continue.</p><p><blockquote>蔚来股价今年迄今已上涨1%。2021年到目前为止，这是一次疯狂的旅程。根据最近的交易，这一过程将继续下去。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nio-stock-options-volume-51624921009?siteid=yhoof2\">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":{"NIO":"蔚来"},"source_url":"https://www.barrons.com/articles/nio-stock-options-volume-51624921009?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113711731","content_text":"Stock in Chinese electric vehicle maker NIO is on fire. While a surge in the volume of options trading isn’t a perfect explanation for the rally, it certainlyhelped shares soaron Monday.\nNIO (ticker: NIO) stock gained almost 10% Monday and shares are up 28% over the past month. The S&P 500,for comparison, rose 0.2% Monday and is up 2% over the past month. Call options volume, which rose almost 200% on Monday compared to Friday, is perhaps the biggest reason NIO shares might be more volatile.\nCall options give the holder the right to buy a stock at a fixed price. (Buying a call is a bullish take on the underlying stock.) Brokers will sell and trade options contracts because they want to earn a commission on a trade. But brokers don’t want to be short a call option, which means they’ll have to take a loss if the stock rises.\nOne way brokers can hedge options positions is to buy the underlying stock. If a broker sells a call and buys the stock, they can earn the options commission and, if the stock rises, they can deliver the stock purchased to the call holder. In that scenario, the broker doesn’t have to buy shares at a higher price. That process is one way higher-than-average call buying can drive buying in the underlying stock.\nOther factors don’t seem to be at play. Wall Street, for example, can’t be credited with the rally. The average analystprice targetfor NIO stock is up about 1% over the past month and not much has happened to those targets since the companyreported earningsat the end of April. Looking back to that point, the average analyst price target has gone up about $1 to a little more than $59 a share.\nNews doesn’t seem to be a credible reason for NIO’s rally, either. The last release on NIO’s website is fromJune 1when the company reported May deliveries. Those numbers relieved investors because the electric vehicle company maintained second-quarter delivery guidance despite a global automotive semiconductor shortage that has roiled the entire industry.\nNIO shares are now up 1% year to date. It’s been a wild ride so far in 2021. Based on recent trading, the ride will continue.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":3048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124406875,"gmtCreate":1624776496297,"gmtModify":1631887479442,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124406875","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":1420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125470738,"gmtCreate":1624689189624,"gmtModify":1631887479453,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125470738","repostId":"1112141657","repostType":4,"repost":{"id":"1112141657","kind":"news","pubTimestamp":1624674481,"share":"https://www.laohu8.com/m/news/1112141657?lang=zh_CN&edition=full","pubTime":"2021-06-26 10:28","market":"us","language":"en","title":"These Stocks Could Have ‘Significant Upside’ From Infrastructure Spending<blockquote>这些股票可能因基础设施支出而“显着上涨”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112141657","media":"Barrons","summary":"Wall Street has been pricing in an infrastructure bill since the White House unveiled the American J","content":"<p>Wall Street has been pricing in an infrastructure bill&nbsp;since the White House unveiled the American Jobs Plan in April. When agreement came this past week, the rally continued.</p><p><blockquote>自白宫四月份公布美国就业计划以来，华尔街一直在为基础设施法案定价。当上周达成协议时，涨势仍在继续。</blockquote></p><p> The&nbsp;Dow Jones Industrial Average&nbsp;climbed 1% on Thursday, and the&nbsp;S&amp;P 500 Industrial Sector&nbsp;added about 0.8%, both outpacing the broader market, as President Joe Biden announced that he had come to an agreement with a group of Republican and Democratic senators on an infrastructure package of roughly $600 billion. And the industrial outperformance continued on Friday.</p><p><blockquote>道琼斯工业平均指数周四上涨1%，标准普尔500工业板块上涨约0.8%，均跑赢大盘，总统乔·拜登宣布他已与一群共和党和民主党参议员达成协议约6000亿美元的基础设施计划。周五工业表现继续优异。</blockquote></p><p> The package includes some $300 billion for roads, bridges, and other major transportation projects. An additional $266 billion includes water infrastructure, broadband, and power infrastructure. The spending is part of a larger package of approved spending that totals about $1.2 trillion over an eight-year period. The infrastructure bill must still be approved by Congress before Biden can sign it.</p><p><blockquote>该计划包括约3000亿美元用于道路、桥梁和其他主要交通项目。另外2660亿美元包括水利基础设施、宽带和电力基础设施。这笔支出是一个更大的批准支出计划的一部分，该计划在八年内总计约1.2万亿美元。基建法案仍需获得国会批准，拜登才能签署。</blockquote></p><p> Other priorities that Biden had outlined, such as more spending on child-care initiatives, will have to be pursued in a separate package devoted to “human infrastructure,” probably by using the budget reconciliation process in the Senate, where Democrats hold a tie-breaker vote. The bipartisan agreement would probably be tied to the reconciliation bill, as Biden has said he wants both on his desk at the same time.</p><p><blockquote>拜登概述的其他优先事项，如在儿童保育计划上增加支出，将不得不在一个专门用于“人类基础设施”的单独一揽子计划中进行，可能是通过使用参议院的预算和解程序，民主党在参议院举行平局投票。两党协议可能会与和解法案挂钩，因为拜登曾表示，他希望这两项法案同时放在他的办公桌上。</blockquote></p><p> Still, agreement on the physical infrastructure spending is a victory for political comity, the economy, and potentially a range of stocks and market sectors. “Roughly $600 billion in new spending for roads, bridges, public transit, and broadband as well as a host of other areas would likely be considered a ‘win’ for the White House,” Wells Fargo economist Michael Pugliese said in a note. “As in baseball, a win does not always have to be a home run. Sometimes it pays to just get on base.”</p><p><blockquote>尽管如此，就实体基础设施支出达成一致对于政治礼让、经济以及潜在的一系列股票和市场部门来说都是一场胜利。富国银行经济学家迈克尔·普列塞(Michael Pugliese)在一份报告中表示：“用于道路、桥梁、公共交通、宽带以及许多其他领域的大约6000亿美元的新支出可能被视为白宫的‘胜利’。”“就像在棒球比赛中一样，胜利并不总是必须是本垒打。有时只要上垒就可以了。”</blockquote></p><p> One way to play for further upside in the bipartisan deal is the package’s emphasis on expanding broadband, says Josh Duitz, who runs the $185 million Aberdeen Standard Global Infrastructure Income fund (ticker: ASGI). As of May 31, his portfolio’s holdings included&nbsp;American Tower(AMT). He added that&nbsp;Ferrovial(FER.Spain), a global infrastructure company that builds roads and other projects, would also benefit from the package. It’s another of his holdings. “This is just one more positive catalyst for infrastructure,” Duitz said.</p><p><blockquote>管理价值1.85亿美元的阿伯丁标准全球基础设施收入基金（股票代码：ASGI）的乔什·杜伊茨(Josh Duitz)表示，两党协议进一步发挥优势的一种方法是该计划强调扩大宽带。截至5月31日，他的投资组合持有的股票包括美国铁塔(AMT)。他补充说，建造道路和其他项目的全球基础设施公司Ferrovial(FER.Spain)也将从该计划中受益。这是他的另一个资产。“这只是基础设施的又一个积极催化剂，”杜伊茨说。</blockquote></p><p> Analysts at Stifel, meanwhile, believe the deal “generates significant upside” for machinery, construction materials, and rental companies.</p><p><blockquote>与此同时，Stifel的分析师认为，这笔交易为机械、建筑材料和租赁公司“带来了巨大的上涨空间”。</blockquote></p><p> Stifel said that the beneficiaries of the infrastructure bill include these five companies:Astec Industries(ASTE), whose products include asphalt and concrete;Martin Marietta Materials(MLM), which makes construction materials;Construction Partners(ROAD), which builds roadways;United Rentals(URI); and&nbsp;Vulcan Materials(VMC), which makes construction materials.</p><p><blockquote>Stifel表示，基建法案的受益者包括这五家公司：Astec Industries（ASTE），其产品包括沥青和混凝土；Martin Marietta Materials(MLM)，生产建筑材料；建筑合作伙伴（道路），建造道路；联合租赁公司(URI)；以及生产建筑材料的Vulcan Materials(VMC)。</blockquote></p><p> Separately on Friday, Jefferies upgraded Martin Marietta Materials and Vulcan Materials to Buy from Hold. It also raised the price targets to $424 and $207, respectively.</p><p><blockquote>另外，周五，杰富瑞将Martin Marietta Materials和Vulcan Materials的评级从持有上调至买入。它还将目标价分别上调至424美元和207美元。</blockquote></p><p> Stifel expects other companies to benefit, as well. Those include&nbsp;Caterpillar(CAT),Deere(DE),Manitowoc(MTW),Oshkosh(OSK), and&nbsp;Terex(TEX)—“each of which sells machinery into the infrastructure” market.</p><p><blockquote>Stifel预计其他公司也会受益。其中包括卡特彼勒(CAT)、Deere(DE)、马尼托瓦克(MTW)、奥什科什(OSK)和特雷克斯(TEX)——“每个公司都向基础设施市场销售机械”。</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>These Stocks Could Have ‘Significant Upside’ From Infrastructure Spending<blockquote>这些股票可能因基础设施支出而“显着上涨”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese Stocks Could Have ‘Significant Upside’ From Infrastructure Spending<blockquote>这些股票可能因基础设施支出而“显着上涨”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-26 10:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street has been pricing in an infrastructure bill&nbsp;since the White House unveiled the American Jobs Plan in April. When agreement came this past week, the rally continued.</p><p><blockquote>自白宫四月份公布美国就业计划以来，华尔街一直在为基础设施法案定价。当上周达成协议时，涨势仍在继续。</blockquote></p><p> The&nbsp;Dow Jones Industrial Average&nbsp;climbed 1% on Thursday, and the&nbsp;S&amp;P 500 Industrial Sector&nbsp;added about 0.8%, both outpacing the broader market, as President Joe Biden announced that he had come to an agreement with a group of Republican and Democratic senators on an infrastructure package of roughly $600 billion. And the industrial outperformance continued on Friday.</p><p><blockquote>道琼斯工业平均指数周四上涨1%，标准普尔500工业板块上涨约0.8%，均跑赢大盘，总统乔·拜登宣布他已与一群共和党和民主党参议员达成协议约6000亿美元的基础设施计划。周五工业表现继续优异。</blockquote></p><p> The package includes some $300 billion for roads, bridges, and other major transportation projects. An additional $266 billion includes water infrastructure, broadband, and power infrastructure. The spending is part of a larger package of approved spending that totals about $1.2 trillion over an eight-year period. The infrastructure bill must still be approved by Congress before Biden can sign it.</p><p><blockquote>该计划包括约3000亿美元用于道路、桥梁和其他主要交通项目。另外2660亿美元包括水利基础设施、宽带和电力基础设施。这笔支出是一个更大的批准支出计划的一部分，该计划在八年内总计约1.2万亿美元。基建法案仍需获得国会批准，拜登才能签署。</blockquote></p><p> Other priorities that Biden had outlined, such as more spending on child-care initiatives, will have to be pursued in a separate package devoted to “human infrastructure,” probably by using the budget reconciliation process in the Senate, where Democrats hold a tie-breaker vote. The bipartisan agreement would probably be tied to the reconciliation bill, as Biden has said he wants both on his desk at the same time.</p><p><blockquote>拜登概述的其他优先事项，如在儿童保育计划上增加支出，将不得不在一个专门用于“人类基础设施”的单独一揽子计划中进行，可能是通过使用参议院的预算和解程序，民主党在参议院举行平局投票。两党协议可能会与和解法案挂钩，因为拜登曾表示，他希望这两项法案同时放在他的办公桌上。</blockquote></p><p> Still, agreement on the physical infrastructure spending is a victory for political comity, the economy, and potentially a range of stocks and market sectors. “Roughly $600 billion in new spending for roads, bridges, public transit, and broadband as well as a host of other areas would likely be considered a ‘win’ for the White House,” Wells Fargo economist Michael Pugliese said in a note. “As in baseball, a win does not always have to be a home run. Sometimes it pays to just get on base.”</p><p><blockquote>尽管如此，就实体基础设施支出达成一致对于政治礼让、经济以及潜在的一系列股票和市场部门来说都是一场胜利。富国银行经济学家迈克尔·普列塞(Michael Pugliese)在一份报告中表示：“用于道路、桥梁、公共交通、宽带以及许多其他领域的大约6000亿美元的新支出可能被视为白宫的‘胜利’。”“就像在棒球比赛中一样，胜利并不总是必须是本垒打。有时只要上垒就可以了。”</blockquote></p><p> One way to play for further upside in the bipartisan deal is the package’s emphasis on expanding broadband, says Josh Duitz, who runs the $185 million Aberdeen Standard Global Infrastructure Income fund (ticker: ASGI). As of May 31, his portfolio’s holdings included&nbsp;American Tower(AMT). He added that&nbsp;Ferrovial(FER.Spain), a global infrastructure company that builds roads and other projects, would also benefit from the package. It’s another of his holdings. “This is just one more positive catalyst for infrastructure,” Duitz said.</p><p><blockquote>管理价值1.85亿美元的阿伯丁标准全球基础设施收入基金（股票代码：ASGI）的乔什·杜伊茨(Josh Duitz)表示，两党协议进一步发挥优势的一种方法是该计划强调扩大宽带。截至5月31日，他的投资组合持有的股票包括美国铁塔(AMT)。他补充说，建造道路和其他项目的全球基础设施公司Ferrovial(FER.Spain)也将从该计划中受益。这是他的另一个资产。“这只是基础设施的又一个积极催化剂，”杜伊茨说。</blockquote></p><p> Analysts at Stifel, meanwhile, believe the deal “generates significant upside” for machinery, construction materials, and rental companies.</p><p><blockquote>与此同时，Stifel的分析师认为，这笔交易为机械、建筑材料和租赁公司“带来了巨大的上涨空间”。</blockquote></p><p> Stifel said that the beneficiaries of the infrastructure bill include these five companies:Astec Industries(ASTE), whose products include asphalt and concrete;Martin Marietta Materials(MLM), which makes construction materials;Construction Partners(ROAD), which builds roadways;United Rentals(URI); and&nbsp;Vulcan Materials(VMC), which makes construction materials.</p><p><blockquote>Stifel表示，基建法案的受益者包括这五家公司：Astec Industries（ASTE），其产品包括沥青和混凝土；Martin Marietta Materials(MLM)，生产建筑材料；建筑合作伙伴（道路），建造道路；联合租赁公司(URI)；以及生产建筑材料的Vulcan Materials(VMC)。</blockquote></p><p> Separately on Friday, Jefferies upgraded Martin Marietta Materials and Vulcan Materials to Buy from Hold. It also raised the price targets to $424 and $207, respectively.</p><p><blockquote>另外，周五，杰富瑞将Martin Marietta Materials和Vulcan Materials的评级从持有上调至买入。它还将目标价分别上调至424美元和207美元。</blockquote></p><p> Stifel expects other companies to benefit, as well. Those include&nbsp;Caterpillar(CAT),Deere(DE),Manitowoc(MTW),Oshkosh(OSK), and&nbsp;Terex(TEX)—“each of which sells machinery into the infrastructure” market.</p><p><blockquote>Stifel预计其他公司也会受益。其中包括卡特彼勒(CAT)、Deere(DE)、马尼托瓦克(MTW)、奥什科什(OSK)和特雷克斯(TEX)——“每个公司都向基础设施市场销售机械”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-infrastructure-spending-51624667261?mod=RTA\">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":{"DE":"迪尔股份有限公司","ASTE":"Astec实业","MLM":"马丁-玛丽埃塔材料","CAT":"卡特彼勒","URI":"联合租赁","OSK":"Oshkosh","TEX":"特雷克斯","ROAD":"Construction Partners","MTW":"马尼托沃克","VMC":"火神材料"},"source_url":"https://www.barrons.com/articles/stocks-infrastructure-spending-51624667261?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112141657","content_text":"Wall Street has been pricing in an infrastructure bill since the White House unveiled the American Jobs Plan in April. When agreement came this past week, the rally continued.\nThe Dow Jones Industrial Average climbed 1% on Thursday, and the S&P 500 Industrial Sector added about 0.8%, both outpacing the broader market, as President Joe Biden announced that he had come to an agreement with a group of Republican and Democratic senators on an infrastructure package of roughly $600 billion. And the industrial outperformance continued on Friday.\nThe package includes some $300 billion for roads, bridges, and other major transportation projects. An additional $266 billion includes water infrastructure, broadband, and power infrastructure. The spending is part of a larger package of approved spending that totals about $1.2 trillion over an eight-year period. The infrastructure bill must still be approved by Congress before Biden can sign it.\nOther priorities that Biden had outlined, such as more spending on child-care initiatives, will have to be pursued in a separate package devoted to “human infrastructure,” probably by using the budget reconciliation process in the Senate, where Democrats hold a tie-breaker vote. The bipartisan agreement would probably be tied to the reconciliation bill, as Biden has said he wants both on his desk at the same time.\nStill, agreement on the physical infrastructure spending is a victory for political comity, the economy, and potentially a range of stocks and market sectors. “Roughly $600 billion in new spending for roads, bridges, public transit, and broadband as well as a host of other areas would likely be considered a ‘win’ for the White House,” Wells Fargo economist Michael Pugliese said in a note. “As in baseball, a win does not always have to be a home run. Sometimes it pays to just get on base.”\nOne way to play for further upside in the bipartisan deal is the package’s emphasis on expanding broadband, says Josh Duitz, who runs the $185 million Aberdeen Standard Global Infrastructure Income fund (ticker: ASGI). As of May 31, his portfolio’s holdings included American Tower(AMT). He added that Ferrovial(FER.Spain), a global infrastructure company that builds roads and other projects, would also benefit from the package. It’s another of his holdings. “This is just one more positive catalyst for infrastructure,” Duitz said.\nAnalysts at Stifel, meanwhile, believe the deal “generates significant upside” for machinery, construction materials, and rental companies.\nStifel said that the beneficiaries of the infrastructure bill include these five companies:Astec Industries(ASTE), whose products include asphalt and concrete;Martin Marietta Materials(MLM), which makes construction materials;Construction Partners(ROAD), which builds roadways;United Rentals(URI); and Vulcan Materials(VMC), which makes construction materials.\nSeparately on Friday, Jefferies upgraded Martin Marietta Materials and Vulcan Materials to Buy from Hold. It also raised the price targets to $424 and $207, respectively.\nStifel expects other companies to benefit, as well. Those include Caterpillar(CAT),Deere(DE),Manitowoc(MTW),Oshkosh(OSK), and Terex(TEX)—“each of which sells machinery into the infrastructure” market.","news_type":1,"symbols_score_info":{"URI":0.9,"ROAD":0.9,"MLM":0.9,"CAT":0.9,"VMC":0.9,"OSK":0.9,"DE":0.9,"MTW":0.9,"ASTE":0.9,"TEX":0.9}},"isVote":1,"tweetType":1,"viewCount":1486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122314213,"gmtCreate":1624597433532,"gmtModify":1631887479467,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/122314213","repostId":"1137689091","repostType":4,"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128527534,"gmtCreate":1624524741928,"gmtModify":1631887479478,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128527534","repostId":"1159732624","repostType":4,"repost":{"id":"1159732624","kind":"news","pubTimestamp":1624523072,"share":"https://www.laohu8.com/m/news/1159732624?lang=zh_CN&edition=full","pubTime":"2021-06-24 16:24","market":"us","language":"en","title":"The Fed's Inflation Gamble Continues<blockquote>美联储通胀豪赌仍在继续</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159732624","media":"zerohedge","summary":"The fed's inflation gamble continues...\nAre central banks trapped?\nLast week’s Fed statement and the","content":"<p>The fed's inflation gamble continues...</p><p><blockquote>美联储的通胀豪赌仍在继续……</blockquote></p><p> Are central banks trapped?</p><p><blockquote>央行被困住了吗？</blockquote></p><p> Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.</p><p><blockquote>上周美联储的声明和随后的新闻发布会被证明是金价下跌90美元（4.8%）的开始。</blockquote></p><p> The fed's inflation gamble continues...</p><p><blockquote>美联储的通胀豪赌仍在继续……</blockquote></p><p> Are central banks trapped?</p><p><blockquote>央行被困住了吗？</blockquote></p><p> Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.</p><p><blockquote>上周美联储的声明和随后的新闻发布会被证明是金价下跌90美元（4.8%）的开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5f6f4d07713bdee7bee47adab746e65\" tg-width=\"1004\" tg-height=\"576\"><i>Gold Price Daily Chart</i></p><p><blockquote><i>金价日线图</i></blockquote></p><p> Fed on Economic Recovery</p><p><blockquote>美联储谈经济复苏</blockquote></p><p> The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed their median projection for the Fed Funds rate from its current rate of 0.1% to 0.6% by 2023 year-end – an increase of 0.5% or two rate increases more than two years from now.</p><p><blockquote>与声明一起发布的经济预测摘要（称为点阵图）显示，委员会成员将联邦基金利率的预测中值从目前的0.1%更改为2023年底的0.6%，增幅为0.5%或两年多后两次加息。</blockquote></p><p> And these forecasted rate increases will only happen if inflation is well anchored above the 2% target and the Fed feels it has met its maximum employment part of the mandate. In response to a question in the press conference Chair Powell said:</p><p><blockquote>只有当通胀稳定在2%的目标之上并且美联储认为它已经达到了最大就业部分的任务时，这些预测的加息才会发生。鲍威尔主席在记者招待会上回答提问时说：</blockquote></p><p>   <i>… the main message I would take away from the SEP is that many [FOMC] participants are more comfortable that the economic conditions in the Committee's forward guidance will be met somewhat sooner than previously anticipated [i.e., labor market conditions consistent with maximum employment, inflation at 2 percent and on track to exceed 2 percent]. And that [is] a welcome development. If such outcomes materialize, it means the economy will have made faster progress toward our goals.</i>    <i> …… the other thing I'll say is</i>  <i><b>rate increases are really not at all the focus of the Committee.</b></i>  <i>The focus of the Committee is the current state of the economy. …</i>  <i><b>we're [still] very far from maximum employment,</b></i>  <i>for example. …</i>  <i><b>the near-term discussion that will begin is about the path of asset purchases</b></i>  <i>… we [discussed] that today, and expect to continue in future meetings to think about our progress … Lift-off [a hike in the FF-rate] is well into the future …</i>  The Fed has reason to be optimistic about the economy, as economic data, both anecdotal and official data releases have been stronger than expected.</p><p><blockquote><i>……我从SEP中得到的主要信息是，许多[FOMC]参与者更放心地认为，委员会前瞻性指引中的经济状况将比之前预期的更快得到满足[即劳动力市场状况与最大就业一致，通胀率为2%，并有望超过2%]。这是一个受欢迎的发展。如果这样的结果成为现实，这意味着经济将朝着我们的目标取得更快的进展。</i><i>……我要说的另一件事是</i><i><b>加息实际上根本不是委员会的重点。</b></i><i>委员会的重点是当前的经济状况……</i><i><b>我们离就业最大化还很远，</b></i><i>比如……</i><i><b>近期将开始的讨论是关于资产购买的路径</b></i><i>……我们今天[讨论]了这个问题，并期望在未来的会议上继续思考我们的进展……升空[提高FF利率]将在未来很长一段时间内……</i>美联储有理由对经济持乐观态度，因为经济数据，无论是传闻数据还是官方数据发布都强于预期。</blockquote></p><p> The housing market in many parts of the country is red hot, employers are scrambling to find workers, retail sales have been strong, and inflation, even taking out the drop from last year has been somewhat elevated.</p><p><blockquote>美国许多地区的房地产市场非常火爆，雇主们都在争先恐后地寻找工人，零售销售强劲，通货膨胀率，即使扣除去年的下降，也有所上升。</blockquote></p><p> And remember the Fed is adding US$80 billion in US Treasuries, and US$40 billion in mortgage-backed securities to its balance sheet each month – that’s $120 billion in extra liquidity flowing straight into already drunk markets.</p><p><blockquote>请记住，美联储每月在其资产负债表上增加800亿美元的美国国债和400亿美元的抵押贷款支持证券——这意味着1200亿美元的额外流动性直接流入已经喝醉的市场。</blockquote></p><p> Assets on the Fed’s balance sheet hit over US$8 trillion last week – that is 36% of US GDP.</p><p><blockquote>美联储资产负债表上的资产上周超过8万亿美元，占美国GDP的36%。</blockquote></p><p> So here is the trap – not only did gold prices decline by almost 5% last week, but interest rates shot up and the US dollar gained strength – all on the Fed<i>talking about tapering</i>and a forecast of a possible increase more than two years from now. Back to Powell’s press conference for his comments on tapering:</p><p><blockquote>所以陷阱就在这里——上周不仅金价下跌了近5%，而且利率飙升，美元走强——这一切都归咎于美联储<i>谈渐缩</i>并预测两年多后可能会增加。回到鲍威尔在新闻发布会上对tapering的评论：</blockquote></p><p>   <i>… [As to when we might consider starting to reduce our asset purchases] you can think of this meeting that we had as</i>  <i><b>the talking about [tapering] meeting</b></i>  <i>…</i>    <i>… We don't think that we're in a situation [where we need to raise rates to control inflation]. We think that</i>  <i><b>the economy is recovering from a deep hole</b></i>  <i>, an unusual hole actually, because it's to do with shutting down the economy. It turns out it's a heck of a lot easier to create demand than it is to bring supply back up to snuff …</i>  <img src=\"https://static.tigerbbs.com/ec4fa685f7c5899a9b342d3532c07720\" tg-width=\"1006\" tg-height=\"574\"><img src=\"https://static.tigerbbs.com/1e18dc5c6c4033c23e38c134098332cb\" tg-width=\"1010\" tg-height=\"578\"></p><p><blockquote><i>……[关于我们何时可能考虑开始减少资产购买]你可以把我们召开的这次会议看作</i><i><b>谈论[缩减]会议</b></i><i>…</i><i>……我们不认为我们处于[需要加息来控制通胀]的境地。我们认为</i><i><b>经济正在从深渊中复苏</b></i><i>事实上，这是一个不寻常的漏洞，因为它与关闭经济有关。事实证明，创造需求比让供应恢复正常要容易得多……</i></blockquote></p><p> <i>US Dollar Index (DXY) Chart</i></p><p><blockquote><i>美元指数(DXY)图表</i></blockquote></p><p> <b>Threat of soaring debts</b></p><p><blockquote><b>债务飙升的威胁</b></blockquote></p><p> If the market reaction is this strong when the Fed only starts mentioning that it is talking about a plan to cut back on asset purchases. Moreover, that there might be an eventual interest rate increase more than two years from now. How do they actually get a plan implemented that doesn’t send the US economy into a downturn?</p><p><blockquote>如果美联储刚开始提及正在讨论削减资产购买计划时，市场反应就如此强烈。此外，两年多后最终可能会加息。他们如何真正实施一项不会让美国经济陷入衰退的计划？</blockquote></p><p> The US government added more than US$5 trillion in debt since the onset of the Covid-19 Pandemic in March of 2020. Also, the baseline projection from the Congressional Budget Office is that the US federal budget deficit will average US$1.2 trillion per year over the next decade.</p><p><blockquote>自2020年3月新冠肺炎疫情爆发以来，美国政府增加了超过5万亿美元的债务。此外，国会预算办公室的基线预测是，未来十年美国联邦预算赤字平均每年将达到1.2万亿美元。</blockquote></p><p></p><p> That’s right this is the baseline projection! It does not include any extra spending that the Biden Administration and Congress may pass (such as the currently debated infrastructure bill). US debt is now more than 100% of GDP. For every 1 percent increase in interest rates, more of the US government revenues are sucked up servicing its debt, which leaves less for other programs, which no politicians want!</p><p><blockquote>没错，这是基线投影！它不包括拜登政府和国会可能通过的任何额外支出（如目前正在争论的基建法案）。美国债务现在超过GDP的100%。利率每上升1%，就有更多的美国政府收入被用来偿还债务，留给其他项目的收入更少，这是任何政治家都不想要的！</blockquote></p><p> And if the US leads the way with interest rate increases this puts more upward pressure on the US dollar. Which is good for US consumers of imported goods, but not good for US exporting companies or their employees.</p><p><blockquote>如果美国率先加息，这将给美元带来更大的上行压力。这对进口商品的美国消费者有利，但对美国出口公司或其员工不利。</blockquote></p><p> Bottom line is that the Fed is going to stay behind the inflation curve and lower for longer is still the motto of the day. Higher inflation, low real-rates, and a lower dollar are all good for gold in the long-run!</p><p><blockquote>最重要的是，美联储将落后于通胀曲线，并且在更长时间内保持较低水平仍然是当今的座右铭。从长远来看，通胀上升、实际利率下降和美元走低都对黄金有利！</blockquote></p><p> We turn back to Chair Powell’s comments in the press conference for the last word:</p><p><blockquote>我们回到鲍威尔主席在新闻发布会上的评论，了解最后一句话：</blockquote></p><p>   <i>… the last thing to say is, the</i>  <i><b>dots are not a great forecaster of future rate moves.</b></i>  <i>And that's because it's so highly uncertain …</i> </p><p><blockquote><i>……最后要说的是，</i><i><b>dots并不能很好地预测未来利率变动。</b></i><i>这是因为它非常不确定……</i></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>The Fed's Inflation Gamble Continues<blockquote>美联储通胀豪赌仍在继续</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\">\nThe Fed's Inflation Gamble Continues<blockquote>美联储通胀豪赌仍在继续</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-24 16:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The fed's inflation gamble continues...</p><p><blockquote>美联储的通胀豪赌仍在继续……</blockquote></p><p> Are central banks trapped?</p><p><blockquote>央行被困住了吗？</blockquote></p><p> Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.</p><p><blockquote>上周美联储的声明和随后的新闻发布会被证明是金价下跌90美元（4.8%）的开始。</blockquote></p><p> The fed's inflation gamble continues...</p><p><blockquote>美联储的通胀豪赌仍在继续……</blockquote></p><p> Are central banks trapped?</p><p><blockquote>央行被困住了吗？</blockquote></p><p> Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.</p><p><blockquote>上周美联储的声明和随后的新闻发布会被证明是金价下跌90美元（4.8%）的开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5f6f4d07713bdee7bee47adab746e65\" tg-width=\"1004\" tg-height=\"576\"><i>Gold Price Daily Chart</i></p><p><blockquote><i>金价日线图</i></blockquote></p><p> Fed on Economic Recovery</p><p><blockquote>美联储谈经济复苏</blockquote></p><p> The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed their median projection for the Fed Funds rate from its current rate of 0.1% to 0.6% by 2023 year-end – an increase of 0.5% or two rate increases more than two years from now.</p><p><blockquote>与声明一起发布的经济预测摘要（称为点阵图）显示，委员会成员将联邦基金利率的预测中值从目前的0.1%更改为2023年底的0.6%，增幅为0.5%或两年多后两次加息。</blockquote></p><p> And these forecasted rate increases will only happen if inflation is well anchored above the 2% target and the Fed feels it has met its maximum employment part of the mandate. In response to a question in the press conference Chair Powell said:</p><p><blockquote>只有当通胀稳定在2%的目标之上并且美联储认为它已经达到了最大就业部分的任务时，这些预测的加息才会发生。鲍威尔主席在记者招待会上回答提问时说：</blockquote></p><p>   <i>… the main message I would take away from the SEP is that many [FOMC] participants are more comfortable that the economic conditions in the Committee's forward guidance will be met somewhat sooner than previously anticipated [i.e., labor market conditions consistent with maximum employment, inflation at 2 percent and on track to exceed 2 percent]. And that [is] a welcome development. If such outcomes materialize, it means the economy will have made faster progress toward our goals.</i>    <i> …… the other thing I'll say is</i>  <i><b>rate increases are really not at all the focus of the Committee.</b></i>  <i>The focus of the Committee is the current state of the economy. …</i>  <i><b>we're [still] very far from maximum employment,</b></i>  <i>for example. …</i>  <i><b>the near-term discussion that will begin is about the path of asset purchases</b></i>  <i>… we [discussed] that today, and expect to continue in future meetings to think about our progress … Lift-off [a hike in the FF-rate] is well into the future …</i>  The Fed has reason to be optimistic about the economy, as economic data, both anecdotal and official data releases have been stronger than expected.</p><p><blockquote><i>……我从SEP中得到的主要信息是，许多[FOMC]参与者更放心地认为，委员会前瞻性指引中的经济状况将比之前预期的更快得到满足[即劳动力市场状况与最大就业一致，通胀率为2%，并有望超过2%]。这是一个受欢迎的发展。如果这样的结果成为现实，这意味着经济将朝着我们的目标取得更快的进展。</i><i>……我要说的另一件事是</i><i><b>加息实际上根本不是委员会的重点。</b></i><i>委员会的重点是当前的经济状况……</i><i><b>我们离就业最大化还很远，</b></i><i>比如……</i><i><b>近期将开始的讨论是关于资产购买的路径</b></i><i>……我们今天[讨论]了这个问题，并期望在未来的会议上继续思考我们的进展……升空[提高FF利率]将在未来很长一段时间内……</i>美联储有理由对经济持乐观态度，因为经济数据，无论是传闻数据还是官方数据发布都强于预期。</blockquote></p><p> The housing market in many parts of the country is red hot, employers are scrambling to find workers, retail sales have been strong, and inflation, even taking out the drop from last year has been somewhat elevated.</p><p><blockquote>美国许多地区的房地产市场非常火爆，雇主们都在争先恐后地寻找工人，零售销售强劲，通货膨胀率，即使扣除去年的下降，也有所上升。</blockquote></p><p> And remember the Fed is adding US$80 billion in US Treasuries, and US$40 billion in mortgage-backed securities to its balance sheet each month – that’s $120 billion in extra liquidity flowing straight into already drunk markets.</p><p><blockquote>请记住，美联储每月在其资产负债表上增加800亿美元的美国国债和400亿美元的抵押贷款支持证券——这意味着1200亿美元的额外流动性直接流入已经喝醉的市场。</blockquote></p><p> Assets on the Fed’s balance sheet hit over US$8 trillion last week – that is 36% of US GDP.</p><p><blockquote>美联储资产负债表上的资产上周超过8万亿美元，占美国GDP的36%。</blockquote></p><p> So here is the trap – not only did gold prices decline by almost 5% last week, but interest rates shot up and the US dollar gained strength – all on the Fed<i>talking about tapering</i>and a forecast of a possible increase more than two years from now. Back to Powell’s press conference for his comments on tapering:</p><p><blockquote>所以陷阱就在这里——上周不仅金价下跌了近5%，而且利率飙升，美元走强——这一切都归咎于美联储<i>谈渐缩</i>并预测两年多后可能会增加。回到鲍威尔在新闻发布会上对tapering的评论：</blockquote></p><p>   <i>… [As to when we might consider starting to reduce our asset purchases] you can think of this meeting that we had as</i>  <i><b>the talking about [tapering] meeting</b></i>  <i>…</i>    <i>… We don't think that we're in a situation [where we need to raise rates to control inflation]. We think that</i>  <i><b>the economy is recovering from a deep hole</b></i>  <i>, an unusual hole actually, because it's to do with shutting down the economy. It turns out it's a heck of a lot easier to create demand than it is to bring supply back up to snuff …</i>  <img src=\"https://static.tigerbbs.com/ec4fa685f7c5899a9b342d3532c07720\" tg-width=\"1006\" tg-height=\"574\"><img src=\"https://static.tigerbbs.com/1e18dc5c6c4033c23e38c134098332cb\" tg-width=\"1010\" tg-height=\"578\"></p><p><blockquote><i>……[关于我们何时可能考虑开始减少资产购买]你可以把我们召开的这次会议看作</i><i><b>谈论[缩减]会议</b></i><i>…</i><i>……我们不认为我们处于[需要加息来控制通胀]的境地。我们认为</i><i><b>经济正在从深渊中复苏</b></i><i>事实上，这是一个不寻常的漏洞，因为它与关闭经济有关。事实证明，创造需求比让供应恢复正常要容易得多……</i></blockquote></p><p> <i>US Dollar Index (DXY) Chart</i></p><p><blockquote><i>美元指数(DXY)图表</i></blockquote></p><p> <b>Threat of soaring debts</b></p><p><blockquote><b>债务飙升的威胁</b></blockquote></p><p> If the market reaction is this strong when the Fed only starts mentioning that it is talking about a plan to cut back on asset purchases. Moreover, that there might be an eventual interest rate increase more than two years from now. How do they actually get a plan implemented that doesn’t send the US economy into a downturn?</p><p><blockquote>如果美联储刚开始提及正在讨论削减资产购买计划时，市场反应就如此强烈。此外，两年多后最终可能会加息。他们如何真正实施一项不会让美国经济陷入衰退的计划？</blockquote></p><p> The US government added more than US$5 trillion in debt since the onset of the Covid-19 Pandemic in March of 2020. Also, the baseline projection from the Congressional Budget Office is that the US federal budget deficit will average US$1.2 trillion per year over the next decade.</p><p><blockquote>自2020年3月新冠肺炎疫情爆发以来，美国政府增加了超过5万亿美元的债务。此外，国会预算办公室的基线预测是，未来十年美国联邦预算赤字平均每年将达到1.2万亿美元。</blockquote></p><p></p><p> That’s right this is the baseline projection! It does not include any extra spending that the Biden Administration and Congress may pass (such as the currently debated infrastructure bill). US debt is now more than 100% of GDP. For every 1 percent increase in interest rates, more of the US government revenues are sucked up servicing its debt, which leaves less for other programs, which no politicians want!</p><p><blockquote>没错，这是基线投影！它不包括拜登政府和国会可能通过的任何额外支出（如目前正在争论的基建法案）。美国债务现在超过GDP的100%。利率每上升1%，就有更多的美国政府收入被用来偿还债务，留给其他项目的收入更少，这是任何政治家都不想要的！</blockquote></p><p> And if the US leads the way with interest rate increases this puts more upward pressure on the US dollar. Which is good for US consumers of imported goods, but not good for US exporting companies or their employees.</p><p><blockquote>如果美国率先加息，这将给美元带来更大的上行压力。这对进口商品的美国消费者有利，但对美国出口公司或其员工不利。</blockquote></p><p> Bottom line is that the Fed is going to stay behind the inflation curve and lower for longer is still the motto of the day. Higher inflation, low real-rates, and a lower dollar are all good for gold in the long-run!</p><p><blockquote>最重要的是，美联储将落后于通胀曲线，并且在更长时间内保持较低水平仍然是当今的座右铭。从长远来看，通胀上升、实际利率下降和美元走低都对黄金有利！</blockquote></p><p> We turn back to Chair Powell’s comments in the press conference for the last word:</p><p><blockquote>我们回到鲍威尔主席在新闻发布会上的评论，了解最后一句话：</blockquote></p><p>   <i>… the last thing to say is, the</i>  <i><b>dots are not a great forecaster of future rate moves.</b></i>  <i>And that's because it's so highly uncertain …</i> </p><p><blockquote><i>……最后要说的是，</i><i><b>dots并不能很好地预测未来利率变动。</b></i><i>这是因为它非常不确定……</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/news/2021-06-23/feds-inflation-gamble-continues\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/news/2021-06-23/feds-inflation-gamble-continues","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159732624","content_text":"The fed's inflation gamble continues...\nAre central banks trapped?\nLast week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.\nThe fed's inflation gamble continues...\nAre central banks trapped?\nLast week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price.\nGold Price Daily Chart\nFed on Economic Recovery\nThe Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed their median projection for the Fed Funds rate from its current rate of 0.1% to 0.6% by 2023 year-end – an increase of 0.5% or two rate increases more than two years from now.\nAnd these forecasted rate increases will only happen if inflation is well anchored above the 2% target and the Fed feels it has met its maximum employment part of the mandate. In response to a question in the press conference Chair Powell said:\n\n… the main message I would take away from the SEP is that many [FOMC] participants are more comfortable that the economic conditions in the Committee's forward guidance will be met somewhat sooner than previously anticipated [i.e., labor market conditions consistent with maximum employment, inflation at 2 percent and on track to exceed 2 percent]. And that [is] a welcome development. If such outcomes materialize, it means the economy will have made faster progress toward our goals.\n\n\n …… the other thing I'll say is\nrate increases are really not at all the focus of the Committee.\nThe focus of the Committee is the current state of the economy. …\nwe're [still] very far from maximum employment,\nfor example. …\nthe near-term discussion that will begin is about the path of asset purchases\n… we [discussed] that today, and expect to continue in future meetings to think about our progress … Lift-off [a hike in the FF-rate] is well into the future …\n\nThe Fed has reason to be optimistic about the economy, as economic data, both anecdotal and official data releases have been stronger than expected.\nThe housing market in many parts of the country is red hot, employers are scrambling to find workers, retail sales have been strong, and inflation, even taking out the drop from last year has been somewhat elevated.\nAnd remember the Fed is adding US$80 billion in US Treasuries, and US$40 billion in mortgage-backed securities to its balance sheet each month – that’s $120 billion in extra liquidity flowing straight into already drunk markets.\nAssets on the Fed’s balance sheet hit over US$8 trillion last week – that is 36% of US GDP.\nSo here is the trap – not only did gold prices decline by almost 5% last week, but interest rates shot up and the US dollar gained strength – all on the Fedtalking about taperingand a forecast of a possible increase more than two years from now. Back to Powell’s press conference for his comments on tapering:\n\n… [As to when we might consider starting to reduce our asset purchases] you can think of this meeting that we had as\nthe talking about [tapering] meeting\n…\n\n\n… We don't think that we're in a situation [where we need to raise rates to control inflation]. We think that\nthe economy is recovering from a deep hole\n, an unusual hole actually, because it's to do with shutting down the economy. It turns out it's a heck of a lot easier to create demand than it is to bring supply back up to snuff …\n\n\nUS Dollar Index (DXY) Chart\nThreat of soaring debts\nIf the market reaction is this strong when the Fed only starts mentioning that it is talking about a plan to cut back on asset purchases. Moreover, that there might be an eventual interest rate increase more than two years from now. How do they actually get a plan implemented that doesn’t send the US economy into a downturn?\nThe US government added more than US$5 trillion in debt since the onset of the Covid-19 Pandemic in March of 2020. Also, the baseline projection from the Congressional Budget Office is that the US federal budget deficit will average US$1.2 trillion per year over the next decade.\nThat’s right this is the baseline projection! It does not include any extra spending that the Biden Administration and Congress may pass (such as the currently debated infrastructure bill). US debt is now more than 100% of GDP. For every 1 percent increase in interest rates, more of the US government revenues are sucked up servicing its debt, which leaves less for other programs, which no politicians want!\nAnd if the US leads the way with interest rate increases this puts more upward pressure on the US dollar. Which is good for US consumers of imported goods, but not good for US exporting companies or their employees.\nBottom line is that the Fed is going to stay behind the inflation curve and lower for longer is still the motto of the day. Higher inflation, low real-rates, and a lower dollar are all good for gold in the long-run!\nWe turn back to Chair Powell’s comments in the press conference for the last word:\n\n… the last thing to say is, the\ndots are not a great forecaster of future rate moves.\nAnd that's because it's so highly uncertain …","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120751235,"gmtCreate":1624339082527,"gmtModify":1631887479489,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120751235","repostId":"2145757030","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167193075,"gmtCreate":1624250694597,"gmtModify":1634008866575,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167193075","repostId":"1113916113","repostType":4,"isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162785864,"gmtCreate":1624075853858,"gmtModify":1634010995994,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162785864","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166179462,"gmtCreate":1623999102456,"gmtModify":1634024334985,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166179462","repostId":"1149669763","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166147283,"gmtCreate":1623999006342,"gmtModify":1634024336951,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166147283","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://www.laohu8.com/m/news/1175693382?lang=zh_CN&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中的多种增长动力使其估值看起来更加令人困惑。</li><li>短期技术面可能会转向看涨，并出现潜在的双底价格走势信号。</li><li>我们讨论公司的多种增长动力，让投资者自行判断。</li></ul><p class=\"t-img-caption\"><span>戴永源/iStock未通过Getty Images发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自11月20日早些时候蚂蚁金服IPO被取消以来，阿里巴巴-SW的股价已经经历了可怕的8个月，股价低迷，较高点下跌了34%。当考虑其长期上升趋势的健康状况时，很明显BABA具有相对较强的上升趋势偏差，并且通常在其关键的50W MA上得到良好支撑。过去4年中唯一一次失去关键的50W MA支撑位是在2018年熊市期间，当时BABA下跌了约40%，但仍在重要的200W MA上方得到良好支撑，我们通常认为这是“最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA上方得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像2018年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平现在可能提供一个可能的技术买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩大增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司备案</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年电子商务收入。数据来源：公司备案</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV在短短7年内从1.68 T元增长到7.49 T元，复合年增长率为23.8%，增速确实惊人。我们还看到其GMV增长转化为收入增长，其中国商业收入从76.7亿元增长至4736.8亿元，过去10年复合年增长率为51%。虽然其国际足迹仍然相当小，但在过去10年中，其复合年增长率仍为30.42%，这一点也不慢。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管预计未来三年中国电子商务市场的增长速度将大幅放缓，复合年增长率为12.4%，从2021年的13.8 T元（相当于2.16 T美元）增长到2024年的19.6 T元（相当于3.06 T美元），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们通过比较中国与美国电子商务市场的增长率和规模来更清晰地看待事物时，我们可以看到它们的规模和增长率的巨大差异，因为美国电子商务市场预计仅增长2021年至2025年的复合年增长率为4.67%，明显低于中国的12.4%。此外，美国市场的总收入预计也将达到约5630亿美元，是届时中国市场预计价值的18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：标普资本智商</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自快速增长的主要竞争对手京东（纳斯达克：JD）和拼多多（纳斯达克：PDD）的越来越大的竞争压力，但阿里巴巴已经在经营利润更高的业务（息税前利润和自由现金流），并且预计未来将继续实现强劲的盈利能力，这将使该公司具有巨大的灵活性，可以与京东和拼多多正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到其SG&amp;A中反映的27.82亿美元一次性行政罚款的影响，因此其息税前利润率出现下行。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>一项重要举措是该公司决定进一步投资社区市场，这是拼多多的主要电子商务战略，拼多多在最近一个季度总共获得了8.23亿AAC，而阿里巴巴的AAC为8.91亿。与阿里巴巴同期的4.66亿AAC相比，拼多多的AAC在2017年第二季度仅有1亿AAC，其AAC增长确实是惊人的。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转向社区市场领域，阿里巴巴需要拿出重磅炸弹（它已经拥有）来与拼多多和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到2022年1020亿元的总市场规模仅占阿里巴巴21财年中国商业收入的21.5%左右，但阿里巴巴不能错过2019年至2022年3年内44.22%的预期快速复合年增长率。虽然市场还比较小，但BABA不能让这个市场目前的龙头：PDD在旁人不知情的情况下，如此轻易地称霸并吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取自己在这一领域的地位，并争取早期领导地位，以防止拼多多扩大领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：标普资本智商</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>我们可以从上图中观察到，拼多多的收入预计将在未来几年继续快速增长，尽管预计随后将正常化。更重要的是，拼多多预计未来的息税前利润和自由现金流盈利能力也将日益提高。这表明社区市场细分市场是一个非常重要的增长动力，阿里巴巴必须利用其优势来利用它，以否认拼多多在游戏早期声称的无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云支出。来源：中国互联网观察；Canalys</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：中国信通技术；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公有云市场拥有40%的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管处于领先地位，阿里巴巴仍处于大力投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从2017年的264.8亿元增长到2023年的2307.4亿元，这将代表CAGR 43.4%，这是一个令人难以置信的出色增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤其明显，因为全球公共云支出预计将从2017年的1450亿美元增长到2022年的3970亿美元，这将代表22.3%的CAGR。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。来源：CnTechPost；Gartner</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在2020年以9.5%的市场份额继续扩大对Alphabet（纳斯达克：GOOGL）（纳斯达克：GOOG）GCP的领先优势，我并不觉得奇怪。虽然亚马逊仍然是市场上明显的领导者，但随着公共云支出的持续扩大，其市场份额一直在大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。尽管阿里巴巴的云部门尚未实现息税前利润（21财年息税前利润率：-15%，20财年息税前利润率：-17.5%），但值得注意的是，Alphabet的GCP也尚未实现盈利（20财年息税前利润率：-42.9%，19财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务规模，预计阿里巴巴将拥有更强大的领导力，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常引人注目</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/EBIT 3Y范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd息税前利润和EV/Fwd Rev趋势。数据来源：标普资本智商</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑阿里巴巴的TEV/EBIT历史范围（3年平均值为33.54倍）时，阿里巴巴的EV/Fwd EBIT趋势无疑意味着该股票被严重低估，因为预计阿里巴巴的收入和营业利润仍将快速增长。然而，由于我们希望更清楚地了解其同行的估值情况，我们认为如果我们对阿里巴巴的息税前利润进行估值，而不是下面介绍的一组基准公司，这将是有用的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：标普资本智商</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史和远期息税前利润，我们可以看到，与基准公司一组观察值的中值相比，阿里巴巴的EV/EBIT看起来确实被低估了。我们得出阿里巴巴的公允价值范围为294.98美元，位于该范围的中点，基于当前210美元的股价，这意味着40.5%的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着先生如何表现显然令人困惑。市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场举措和不断增长的阿里云部门仍有很大的潜在上涨空间，其中。我们认为该股表现不佳的主要现实原因只是监管风险。我们认为投资者应该承认这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。这里关键的是，中国政府似乎对其科技巨头的行为和行动拥有重大影响力，而这些影响力有时可能在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能会因此大幅折扣阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长旅程中的一个短暂时刻，那么你肯定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续取得稳健的业绩，展示了公司强大的执行能力。由于该公司继续在一个拥有如此多增长动力的市场中运营，预计将推动公司未来的增长，投资者应该会发现当前的估值非常有吸引力。</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>Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中的多种增长动力使其估值看起来更加令人困惑。</li><li>短期技术面可能会转向看涨，并出现潜在的双底价格走势信号。</li><li>我们讨论公司的多种增长动力，让投资者自行判断。</li></ul><p class=\"t-img-caption\"><span>戴永源/iStock未通过Getty Images发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自11月20日早些时候蚂蚁金服IPO被取消以来，阿里巴巴-SW的股价已经经历了可怕的8个月，股价低迷，较高点下跌了34%。当考虑其长期上升趋势的健康状况时，很明显BABA具有相对较强的上升趋势偏差，并且通常在其关键的50W MA上得到良好支撑。过去4年中唯一一次失去关键的50W MA支撑位是在2018年熊市期间，当时BABA下跌了约40%，但仍在重要的200W MA上方得到良好支撑，我们通常认为这是“最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA上方得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像2018年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平现在可能提供一个可能的技术买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩大增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司备案</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年电子商务收入。数据来源：公司备案</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV在短短7年内从1.68 T元增长到7.49 T元，复合年增长率为23.8%，增速确实惊人。我们还看到其GMV增长转化为收入增长，其中国商业收入从76.7亿元增长至4736.8亿元，过去10年复合年增长率为51%。虽然其国际足迹仍然相当小，但在过去10年中，其复合年增长率仍为30.42%，这一点也不慢。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管预计未来三年中国电子商务市场的增长速度将大幅放缓，复合年增长率为12.4%，从2021年的13.8 T元（相当于2.16 T美元）增长到2024年的19.6 T元（相当于3.06 T美元），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们通过比较中国与美国电子商务市场的增长率和规模来更清晰地看待事物时，我们可以看到它们的规模和增长率的巨大差异，因为美国电子商务市场预计仅增长2021年至2025年的复合年增长率为4.67%，明显低于中国的12.4%。此外，美国市场的总收入预计也将达到约5630亿美元，是届时中国市场预计价值的18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：标普资本智商</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自快速增长的主要竞争对手京东（纳斯达克：JD）和拼多多（纳斯达克：PDD）的越来越大的竞争压力，但阿里巴巴已经在经营利润更高的业务（息税前利润和自由现金流），并且预计未来将继续实现强劲的盈利能力，这将使该公司具有巨大的灵活性，可以与京东和拼多多正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到其SG&amp;A中反映的27.82亿美元一次性行政罚款的影响，因此其息税前利润率出现下行。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>一项重要举措是该公司决定进一步投资社区市场，这是拼多多的主要电子商务战略，拼多多在最近一个季度总共获得了8.23亿AAC，而阿里巴巴的AAC为8.91亿。与阿里巴巴同期的4.66亿AAC相比，拼多多的AAC在2017年第二季度仅有1亿AAC，其AAC增长确实是惊人的。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转向社区市场领域，阿里巴巴需要拿出重磅炸弹（它已经拥有）来与拼多多和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到2022年1020亿元的总市场规模仅占阿里巴巴21财年中国商业收入的21.5%左右，但阿里巴巴不能错过2019年至2022年3年内44.22%的预期快速复合年增长率。虽然市场还比较小，但BABA不能让这个市场目前的龙头：PDD在旁人不知情的情况下，如此轻易地称霸并吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取自己在这一领域的地位，并争取早期领导地位，以防止拼多多扩大领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：标普资本智商</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>我们可以从上图中观察到，拼多多的收入预计将在未来几年继续快速增长，尽管预计随后将正常化。更重要的是，拼多多预计未来的息税前利润和自由现金流盈利能力也将日益提高。这表明社区市场细分市场是一个非常重要的增长动力，阿里巴巴必须利用其优势来利用它，以否认拼多多在游戏早期声称的无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云支出。来源：中国互联网观察；Canalys</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：中国信通技术；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公有云市场拥有40%的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管处于领先地位，阿里巴巴仍处于大力投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从2017年的264.8亿元增长到2023年的2307.4亿元，这将代表CAGR 43.4%，这是一个令人难以置信的出色增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤其明显，因为全球公共云支出预计将从2017年的1450亿美元增长到2022年的3970亿美元，这将代表22.3%的CAGR。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。来源：CnTechPost；Gartner</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在2020年以9.5%的市场份额继续扩大对Alphabet（纳斯达克：GOOGL）（纳斯达克：GOOG）GCP的领先优势，我并不觉得奇怪。虽然亚马逊仍然是市场上明显的领导者，但随着公共云支出的持续扩大，其市场份额一直在大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。尽管阿里巴巴的云部门尚未实现息税前利润（21财年息税前利润率：-15%，20财年息税前利润率：-17.5%），但值得注意的是，Alphabet的GCP也尚未实现盈利（20财年息税前利润率：-42.9%，19财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务规模，预计阿里巴巴将拥有更强大的领导力，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常引人注目</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/EBIT 3Y范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd息税前利润和EV/Fwd Rev趋势。数据来源：标普资本智商</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑阿里巴巴的TEV/EBIT历史范围（3年平均值为33.54倍）时，阿里巴巴的EV/Fwd EBIT趋势无疑意味着该股票被严重低估，因为预计阿里巴巴的收入和营业利润仍将快速增长。然而，由于我们希望更清楚地了解其同行的估值情况，我们认为如果我们对阿里巴巴的息税前利润进行估值，而不是下面介绍的一组基准公司，这将是有用的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：标普资本智商</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史和远期息税前利润，我们可以看到，与基准公司一组观察值的中值相比，阿里巴巴的EV/EBIT看起来确实被低估了。我们得出阿里巴巴的公允价值范围为294.98美元，位于该范围的中点，基于当前210美元的股价，这意味着40.5%的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着先生如何表现显然令人困惑。市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场举措和不断增长的阿里云部门仍有很大的潜在上涨空间，其中。我们认为该股表现不佳的主要现实原因只是监管风险。我们认为投资者应该承认这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。这里关键的是，中国政府似乎对其科技巨头的行为和行动拥有重大影响力，而这些影响力有时可能在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能会因此大幅折扣阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长旅程中的一个短暂时刻，那么你肯定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续取得稳健的业绩，展示了公司强大的执行能力。由于该公司继续在一个拥有如此多增长动力的市场中运营，预计将推动公司未来的增长，投资者应该会发现当前的估值非常有吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly 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14:48","market":"us","language":"en","title":"Elon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186918296","media":"Benzinga","summary":"Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the","content":"<p><div> Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA. What Happened:The mission was launched from NASA’s Kennedy Space Center in ...</p><p><blockquote><div>特斯拉公司首席执行官埃隆·马斯克(ElonMusk)的SpaceX周三与美国宇航局(NASA)合作启动了Crew-3任务。发生了什么：该任务于年从美国宇航局肯尼迪航天中心发射...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</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\">\nElon Musk's SpaceX Launches 4 Crew-3 Astronauts To Space<blockquote>埃隆·马斯克(Elon Musk)的SpaceX将4名Crew-3宇航员送入太空</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-11-11 14:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA. What Happened:The mission was launched from NASA’s Kennedy Space Center in ...</p><p><blockquote><div>特斯拉公司首席执行官埃隆·马斯克(ElonMusk)的SpaceX周三与美国宇航局(NASA)合作启动了Crew-3任务。发生了什么：该任务于年从美国宇航局肯尼迪航天中心发射...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/21/11/24034587/elon-musks-spacex-launches-4-crew-3-astronauts-to-space","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186918296","content_text":"Tesla Inc CEO ElonMusk’s SpaceX on Wednesday kicked off the Crew-3 mission in collaboration with the space agency NASA.\nWhat Happened:The mission was launched from NASA’s Kennedy Space Center in Florida at 9:03 p.m. ET for the nearly day-long journey to the International Space Station (ISS).\nThe Crew-3 mission is ferrying NASA astronauts Raja Chari, Tom Marshburn, Kayla Barron, and European Space Agency (ESA) astronaut Matthias Maurer to the ISS.\nSpaceX shared a short clip of the crew on orbit and said it expects autonomous docking at 7 p.m. ET on Thursday.\nCrew-3 is SpaceX’s third operational crewed flight for NASA and the fifth human spaceflight mission that SpaceX has launched since May 2020.\nWhy It Matters:The Crew-3 mission was first scheduled to take place on Oct. 31 but was delayed twice. SpaceX and NASA SpaceX then planned to return the Crew-2 astronauts before the Crew-3 is launched.\nSpaceX on Monday returned the four Crew-2 astronauts who spent about six months in space as part of the agency’s second long-duration crewed flight after launching in April atop a Falcon 9 rocket.\nSpaceX and NASA are working on multiple projects including a $2.9 billion lunar landing contract. Earlier this month,Amazon.com Inc founder Jeff Bezos’ Blue Origin lost the lucrative lawsuit against NASA for awarding the contract to SpaceX.\nMusk dreams of colonizing Mars and has in the past said he remains “highly confident” that SpaceX would land humans on Mars by 2026.\nSpaceX and Blue Origin also compete with each other in the recently launched space tourism flights.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":899040098,"gmtCreate":1628145916114,"gmtModify":1631887479395,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/899040098","repostId":"1160204013","repostType":4,"isVote":1,"tweetType":1,"viewCount":1793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110539372,"gmtCreate":1622467417296,"gmtModify":1634101280983,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/110539372","repostId":"2139859504","repostType":4,"isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109798262,"gmtCreate":1619719325756,"gmtModify":1634210466357,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/109798262","repostId":"1148135171","repostType":4,"repost":{"id":"1148135171","kind":"news","pubTimestamp":1619709572,"share":"https://www.laohu8.com/m/news/1148135171?lang=zh_CN&edition=full","pubTime":"2021-04-29 23:19","market":"us","language":"en","title":"Powell: Financial system not threatened by 'frothy' asset valuations<blockquote>鲍威尔：金融体系没有受到“泡沫”资产估值的威胁</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148135171","media":"Yahoo","summary":"Theretail-driven run-upinGamestopand thememeificationofcryptocurrency Dogecoinare not of concern to ","content":"<p>Theretail-driven run-upinGamestopand thememeificationofcryptocurrency Dogecoinare not of concern to the nation’s central bank, its chief said Wednesday.</p><p><blockquote>该国央行行长周三表示，零售驱动的暴涨和加密货币狗狗币的主题化并不引起该国央行的关注。</blockquote></p><p> Federal Reserve Chairman Jerome Powell told reporters some asset valuations appear “frothy,” but did not see any risks that may hurt the financial system.</p><p><blockquote>美联储主席鲍威尔对记者表示，一些资产估值似乎存在“泡沫”，但没有看到任何可能损害金融体系的风险。</blockquote></p><p> “The overall financial stability picture is mixed, but on balance it’s manageable,” Powell said Wednesday in response to a question from Yahoo Finance.</p><p><blockquote>鲍威尔周三在回答雅虎财经的问题时表示：“整体金融稳定情况好坏参半，但总的来说是可控的。”</blockquote></p><p> Powell added that the broad run-up in market prices may be linked in part to the central bank’s easy money policies, but said optimism over getting to a post-pandemic world is the main driver.</p><p><blockquote>鲍威尔补充说，市场价格的广泛上涨可能部分与央行的宽松货币政策有关，但他表示，对进入大流行后世界的乐观情绪是主要驱动力。</blockquote></p><p> “It has a tremendous amount to do with vaccination and re-opening of the economy — that's really what has been moving markets a lot in the last few months,” Powell said.</p><p><blockquote>鲍威尔表示：“这与疫苗接种和经济重新开放有很大关系——这确实是过去几个月市场发生很大变化的原因。”</blockquote></p><p> Asked about the meme stock phenomenon in late-January, Powell similarly declined to speak to specific markets but said that asset values were broadly being driven by rising economic optimism.</p><p><blockquote>当被问及一月下旬的模因股票现象时，鲍威尔同样拒绝谈论具体市场，但表示资产价值在很大程度上是由经济乐观情绪上升推动的。</blockquote></p><p> Year-to-date, the S&amp;P 500 and the Dow Jones Industrial Average have gained more than 10% each, repeatedly breaking through new all-time highs.</p><p><blockquote>年初至今，标普500和道琼斯工业平均指数涨幅均超过10%，屡屡突破历史新高。</blockquote></p><p> <b>Other risks</b></p><p><blockquote><b>其他风险</b></blockquote></p><p> Powell’s remarks make it clear that the central bank feels comfortable running with its aggressively accommodative monetary policy. In addition to near-zero short-term interest rates, the Fed has also been absorbing $120 billion a month in U.S. Treasuries and agency mortgage-backed securities.</p><p><blockquote>鲍威尔的言论清楚地表明，央行对其积极宽松的货币政策感到满意。除了接近于零的短期利率，美联储还一直在每月吸收1200亿美元的美国国债和机构抵押贷款支持证券。</blockquote></p><p> The policy-setting Federal Open Market Committee on Wednesdaykept both of those policy measures unchanged. Powell told reporters in the afternoon that the Fed remains a “long way” from raising rates.</p><p><blockquote>制定政策的联邦公开市场委员会周三维持这两项政策措施不变。鲍威尔下午对记者表示，美联储距离加息还有“很长的路要走”。</blockquote></p><p> Powell said the central bank is still keeping an eye on some financial stability risks, adding that rising home prices are catching some attention.</p><p><blockquote>鲍威尔表示，央行仍在关注一些金融稳定风险，并补充说房价上涨引起了一些关注。</blockquote></p><p> The S&amp;P CoreLogic Case-Shiller national home price indexreached a 15-year high in February, according to data released Tuesday.</p><p><blockquote>根据周二公布的数据，S&amp;P CoreLogic Case-Shiller全国房价指数2月份达到15年来的新高。</blockquote></p><p> Powell said the higher prices are due to constraints on supply, with homebuilders unable to keep up with demand. He added that he does not see financial stability concerns in those prices, despite their history with triggering previous crises in the U.S.</p><p><blockquote>鲍威尔表示，价格上涨是由于供应限制，房屋建筑商无法满足需求。他补充说，尽管这些价格曾引发美国之前的危机，但他并不认为这些价格会引发金融稳定问题。</blockquote></p><p> “We really don’t see that here,” Powell said Wednesday. “We don’t see bad loans and unsustainable prices and that kind of thing.”</p><p><blockquote>“我们在这里真的没有看到这一点，”鲍威尔周三表示。“我们没有看到不良贷款和不可持续的价格之类的事情。”</blockquote></p><p></p>","source":"lsy1584348713084","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>Powell: Financial system not threatened by 'frothy' asset valuations<blockquote>鲍威尔：金融体系没有受到“泡沫”资产估值的威胁</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\">\nPowell: Financial system not threatened by 'frothy' asset valuations<blockquote>鲍威尔：金融体系没有受到“泡沫”资产估值的威胁</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo</strong><span class=\"h-time small\">2021-04-29 23:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Theretail-driven run-upinGamestopand thememeificationofcryptocurrency Dogecoinare not of concern to the nation’s central bank, its chief said Wednesday.</p><p><blockquote>该国央行行长周三表示，零售驱动的暴涨和加密货币狗狗币的主题化并不引起该国央行的关注。</blockquote></p><p> Federal Reserve Chairman Jerome Powell told reporters some asset valuations appear “frothy,” but did not see any risks that may hurt the financial system.</p><p><blockquote>美联储主席鲍威尔对记者表示，一些资产估值似乎存在“泡沫”，但没有看到任何可能损害金融体系的风险。</blockquote></p><p> “The overall financial stability picture is mixed, but on balance it’s manageable,” Powell said Wednesday in response to a question from Yahoo Finance.</p><p><blockquote>鲍威尔周三在回答雅虎财经的问题时表示：“整体金融稳定情况好坏参半，但总的来说是可控的。”</blockquote></p><p> Powell added that the broad run-up in market prices may be linked in part to the central bank’s easy money policies, but said optimism over getting to a post-pandemic world is the main driver.</p><p><blockquote>鲍威尔补充说，市场价格的广泛上涨可能部分与央行的宽松货币政策有关，但他表示，对进入大流行后世界的乐观情绪是主要驱动力。</blockquote></p><p> “It has a tremendous amount to do with vaccination and re-opening of the economy — that's really what has been moving markets a lot in the last few months,” Powell said.</p><p><blockquote>鲍威尔表示：“这与疫苗接种和经济重新开放有很大关系——这确实是过去几个月市场发生很大变化的原因。”</blockquote></p><p> Asked about the meme stock phenomenon in late-January, Powell similarly declined to speak to specific markets but said that asset values were broadly being driven by rising economic optimism.</p><p><blockquote>当被问及一月下旬的模因股票现象时，鲍威尔同样拒绝谈论具体市场，但表示资产价值在很大程度上是由经济乐观情绪上升推动的。</blockquote></p><p> Year-to-date, the S&amp;P 500 and the Dow Jones Industrial Average have gained more than 10% each, repeatedly breaking through new all-time highs.</p><p><blockquote>年初至今，标普500和道琼斯工业平均指数涨幅均超过10%，屡屡突破历史新高。</blockquote></p><p> <b>Other risks</b></p><p><blockquote><b>其他风险</b></blockquote></p><p> Powell’s remarks make it clear that the central bank feels comfortable running with its aggressively accommodative monetary policy. In addition to near-zero short-term interest rates, the Fed has also been absorbing $120 billion a month in U.S. Treasuries and agency mortgage-backed securities.</p><p><blockquote>鲍威尔的言论清楚地表明，央行对其积极宽松的货币政策感到满意。除了接近于零的短期利率，美联储还一直在每月吸收1200亿美元的美国国债和机构抵押贷款支持证券。</blockquote></p><p> The policy-setting Federal Open Market Committee on Wednesdaykept both of those policy measures unchanged. Powell told reporters in the afternoon that the Fed remains a “long way” from raising rates.</p><p><blockquote>制定政策的联邦公开市场委员会周三维持这两项政策措施不变。鲍威尔下午对记者表示，美联储距离加息还有“很长的路要走”。</blockquote></p><p> Powell said the central bank is still keeping an eye on some financial stability risks, adding that rising home prices are catching some attention.</p><p><blockquote>鲍威尔表示，央行仍在关注一些金融稳定风险，并补充说房价上涨引起了一些关注。</blockquote></p><p> The S&amp;P CoreLogic Case-Shiller national home price indexreached a 15-year high in February, according to data released Tuesday.</p><p><blockquote>根据周二公布的数据，S&amp;P CoreLogic Case-Shiller全国房价指数2月份达到15年来的新高。</blockquote></p><p> Powell said the higher prices are due to constraints on supply, with homebuilders unable to keep up with demand. He added that he does not see financial stability concerns in those prices, despite their history with triggering previous crises in the U.S.</p><p><blockquote>鲍威尔表示，价格上涨是由于供应限制，房屋建筑商无法满足需求。他补充说，尽管这些价格曾引发美国之前的危机，但他并不认为这些价格会引发金融稳定问题。</blockquote></p><p> “We really don’t see that here,” Powell said Wednesday. “We don’t see bad loans and unsustainable prices and that kind of thing.”</p><p><blockquote>“我们在这里真的没有看到这一点，”鲍威尔周三表示。“我们没有看到不良贷款和不可持续的价格之类的事情。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/powell-financial-system-not-threatened-by-frothy-asset-valuations-205533333.html\">Yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/powell-financial-system-not-threatened-by-frothy-asset-valuations-205533333.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148135171","content_text":"Theretail-driven run-upinGamestopand thememeificationofcryptocurrency Dogecoinare not of concern to the nation’s central bank, its chief said Wednesday.\nFederal Reserve Chairman Jerome Powell told reporters some asset valuations appear “frothy,” but did not see any risks that may hurt the financial system.\n“The overall financial stability picture is mixed, but on balance it’s manageable,” Powell said Wednesday in response to a question from Yahoo Finance.\nPowell added that the broad run-up in market prices may be linked in part to the central bank’s easy money policies, but said optimism over getting to a post-pandemic world is the main driver.\n“It has a tremendous amount to do with vaccination and re-opening of the economy — that's really what has been moving markets a lot in the last few months,” Powell said.\nAsked about the meme stock phenomenon in late-January, Powell similarly declined to speak to specific markets but said that asset values were broadly being driven by rising economic optimism.\nYear-to-date, the S&P 500 and the Dow Jones Industrial Average have gained more than 10% each, repeatedly breaking through new all-time highs.\nOther risks\nPowell’s remarks make it clear that the central bank feels comfortable running with its aggressively accommodative monetary policy. In addition to near-zero short-term interest rates, the Fed has also been absorbing $120 billion a month in U.S. Treasuries and agency mortgage-backed securities.\nThe policy-setting Federal Open Market Committee on Wednesdaykept both of those policy measures unchanged. Powell told reporters in the afternoon that the Fed remains a “long way” from raising rates.\nPowell said the central bank is still keeping an eye on some financial stability risks, adding that rising home prices are catching some attention.\nThe S&P CoreLogic Case-Shiller national home price indexreached a 15-year high in February, according to data released Tuesday.\nPowell said the higher prices are due to constraints on supply, with homebuilders unable to keep up with demand. He added that he does not see financial stability concerns in those prices, despite their history with triggering previous crises in the U.S.\n“We really don’t see that here,” Powell said Wednesday. “We don’t see bad loans and unsustainable prices and that kind of thing.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187332654,"gmtCreate":1623739814778,"gmtModify":1634029292050,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/187332654","repostId":"2143178756","repostType":4,"isVote":1,"tweetType":1,"viewCount":709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186970893,"gmtCreate":1623471146112,"gmtModify":1634032691033,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186970893","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","kind":"news","pubTimestamp":1623470168,"share":"https://www.laohu8.com/m/news/1147474880?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<p>  Understanding the difference between speculation and investing is essential to avoiding reckless risk.  I’ve had it.</p><p><blockquote>了解投机和投资之间的区别对于避免鲁莽风险至关重要。我受够了。</blockquote></p><p> The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p><p><blockquote>关于金融最基本的区别之一，《华尔街日报》是错误的，而且几十年来一直是错误的。我再也受不了了。</blockquote></p><p> If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p><p><blockquote>如果你购买一只股票纯粹是因为它上涨了很多，而没有对其进行任何研究，那么你就不是——正如《华尔街日报》及其编辑奇怪地坚持这样称呼你的那样——“投资者”。如果你购买加密货币是因为，嘿，这听起来很有趣，你也不是投资者。</blockquote></p><p> Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p><p><blockquote>每当你购买任何金融资产是因为你有一个只是为了好玩，或者因为某个名人正在大肆宣传它，而其他人似乎也在购买它，你就不是在投资。</blockquote></p><p> You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p><p><blockquote>你绝对是一个交易者：刚刚购买了一项资产的人。你可能是一个投机者：认为其他人会比你付出更多的钱。</blockquote></p><p> Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p><p><blockquote>当然，有些人购买像GameStopCorp.GME 5.88%这样的模因股票<i>是</i>投资者。他们阅读公司的财务报表，研究基础业务的健康状况，并了解还有谁在做空股票。同样，许多数字硬币的买家也投入了时间和精力来了解加密货币的工作原理以及它如何重塑金融。</blockquote></p><p> An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p><p><blockquote>投资者依赖于内部回报来源：收益、收入、资产价值的增长。投机者依赖外部回报来源：主要是其他人是否会支付更多，而不考虑基本价值。</blockquote></p><p> The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p><p><blockquote>投资者这个词来自拉丁语“investire”，意思是穿着或打扮自己，包围或包围。你永远不会在不知道衣服是什么颜色或由什么材料制成的情况下穿衣服。同样，你不能投资你一无所知的资产。</blockquote></p><p> Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p><p><blockquote>然而，《华尔街日报》及其编辑长期以来一直将几乎所有购买任何东西的人称为“投资者”。1962年7月12日，《华尔街日报》发表了经典著作《证券分析》和《聪明的投资者》的作者本杰明·格雷厄姆写给编辑的一封信。格雷厄姆抱怨说，那年6月，《华尔街日报》发表了一篇文章，标题是“许多小投资者押注进一步下跌，卖空零星股票”。</blockquote></p><p> He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p><p><blockquote>他写道：“根据‘投资’的什么定义，人们可以给那些通过卖空零头在股市上下注的小人物起‘投资者’这个名字呢？”（做空奇数手就是借入并卖出少于100股的股票，押注股票会下跌——无论在当时还是现在，这都是一个昂贵且有风险的赌注。）</blockquote></p><p> “If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p><p><blockquote>“如果这些人是投资者，”格雷厄姆问道，“我们应该如何定义‘投机’和‘投机者’？难道目前未能区分投资和投机的做法不仅会对个人，而且会对整个金融界造成严重伤害吗——就像20世纪20年代末那样？”</blockquote></p><p> Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p><p><blockquote>格雷厄姆并不是一个认为市场应该是富人专属游乐场的势利小人。他写了《聪明的投资者》，明确的目的是帮助不太富裕的人明智地参与股市。</blockquote></p><p> In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p><p><blockquote>格雷厄姆在那本书（本专栏就是以其命名的）中说：“彻头彻尾的投机既不违法、不道德，也（对大多数人来说）不会让钱包发胖。”</blockquote></p><p> However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p><p><blockquote>然而，他警告说，这会带来三种危险：“（1）当你认为自己在投资时进行投机；（2）当你缺乏适当的知识和技能时，认真地投机而不是作为一种消遣；以及（3）冒更多钱的风险投机超出了你的承受能力。”</blockquote></p><p> Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p><p><blockquote>大多数投资者每隔一段时间就会投机一点。就像彩票或偶尔去赛马场或赌场一样，一点点是无害的乐趣。很多都不是。</blockquote></p><p> If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p><p><blockquote>如果你认为你在投机时是在投资，你会将哪怕是短暂的成功归因于技能，即使运气是最可能的解释。这会导致你冒鲁莽的风险。</blockquote></p><p> Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p><p><blockquote>把投机看得太重，它会变成一种痴迷和上瘾。你变得无法接受你的损失，也无法关注未来超过几分钟。接下来你知道的是，你在篝火上投入了更多的钱。</blockquote></p><p> I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p><p><blockquote>我认为，将交易者和投机者称为“投资者”会将许多新来者推向他们不应该承担的风险和他们无法承受的损失的滑坡。我热切地希望《华尔街日报》及其编辑最终不再使用“投资者”作为任何进行交易的人的默认术语。</blockquote></p><p> “ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p><p><blockquote>“‘投资者’在英语中作为一个包罗万象的术语有着悠久的历史，指的是那些投入资本并期望回报的人，无论时间长短，无论他们阅读的投资专栏有多少，”《华尔街日报》财经编辑查尔斯·福雷尔在回应我的投诉时说道。“至少可以追溯到19世纪中叶，‘投资’甚至被用来描述赌马——这种活动与基本面分析的脱节程度肯定不亚于购买狗狗币。”</blockquote></p><p></p><p> I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p><p><blockquote>我听到了，老板，但我还是认为你错了。《华尔街日报》不可能仅仅因为字典上说我们可以，就说一个休闲赌徒在赛马场“投资”。</blockquote></p><p> Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p><p><blockquote>将新手投机者称为“投资者”是营销人员助长过度交易的最有力方式之一。</blockquote></p><p> Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p><p><blockquote>在最近的Instagram帖子中，一位名叫拉娜·罗迪斯(Lana Rhoades)的前色情明星穿着——嗯，大部分是穿着——比基尼，举着似乎是格雷厄姆的《聪明的投资者》。据IMDb.com报道，她主演了《Tushy》和《Make Me Meow》等视频。</blockquote></p><p> In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p><p><blockquote>在她被近180万人“点赞”的帖子中，罗迪斯宣布她将推广一种名为PAWGCoin的加密货币。</blockquote></p><p> The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p><p><blockquote>该货币的网站称，这枚硬币是为“那些向发达的后躯致敬的人”准备的。（我得到可靠消息，PAWG代表胖屁股白人女孩。）</blockquote></p><p> PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p><p><blockquote>据追踪此类数字货币的网站Poocoin.io称，自Rhoades女士6月初开始推广PAWGcoin以来，PAWGcoin已上涨约900%。</blockquote></p><p> Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p><p><blockquote>罗迪斯女士在推特上写道“我每天早上也阅读《华尔街日报》”，但记者无法联系到她置评。PAWGcoin的网站鼓励访问者“立即投资”。</blockquote></p><p> In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</p><p><blockquote>在罗迪斯的Instagram帖子中，她举着一本打开的《聪明的投资者》，封面是颠倒的。她似乎是闭着眼睛读的。</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>Investor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</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\">\nInvestor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Understanding the difference between speculation and investing is essential to avoiding reckless risk.  I’ve had it.</p><p><blockquote>了解投机和投资之间的区别对于避免鲁莽风险至关重要。我受够了。</blockquote></p><p> The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p><p><blockquote>关于金融最基本的区别之一，《华尔街日报》是错误的，而且几十年来一直是错误的。我再也受不了了。</blockquote></p><p> If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p><p><blockquote>如果你购买一只股票纯粹是因为它上涨了很多，而没有对其进行任何研究，那么你就不是——正如《华尔街日报》及其编辑奇怪地坚持这样称呼你的那样——“投资者”。如果你购买加密货币是因为，嘿，这听起来很有趣，你也不是投资者。</blockquote></p><p> Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p><p><blockquote>每当你购买任何金融资产是因为你有一个只是为了好玩，或者因为某个名人正在大肆宣传它，而其他人似乎也在购买它，你就不是在投资。</blockquote></p><p> You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p><p><blockquote>你绝对是一个交易者：刚刚购买了一项资产的人。你可能是一个投机者：认为其他人会比你付出更多的钱。</blockquote></p><p> Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p><p><blockquote>当然，有些人购买像GameStopCorp.GME 5.88%这样的模因股票<i>是</i>投资者。他们阅读公司的财务报表，研究基础业务的健康状况，并了解还有谁在做空股票。同样，许多数字硬币的买家也投入了时间和精力来了解加密货币的工作原理以及它如何重塑金融。</blockquote></p><p> An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p><p><blockquote>投资者依赖于内部回报来源：收益、收入、资产价值的增长。投机者依赖外部回报来源：主要是其他人是否会支付更多，而不考虑基本价值。</blockquote></p><p> The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p><p><blockquote>投资者这个词来自拉丁语“investire”，意思是穿着或打扮自己，包围或包围。你永远不会在不知道衣服是什么颜色或由什么材料制成的情况下穿衣服。同样，你不能投资你一无所知的资产。</blockquote></p><p> Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p><p><blockquote>然而，《华尔街日报》及其编辑长期以来一直将几乎所有购买任何东西的人称为“投资者”。1962年7月12日，《华尔街日报》发表了经典著作《证券分析》和《聪明的投资者》的作者本杰明·格雷厄姆写给编辑的一封信。格雷厄姆抱怨说，那年6月，《华尔街日报》发表了一篇文章，标题是“许多小投资者押注进一步下跌，卖空零星股票”。</blockquote></p><p> He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p><p><blockquote>他写道：“根据‘投资’的什么定义，人们可以给那些通过卖空零头在股市上下注的小人物起‘投资者’这个名字呢？”（做空奇数手就是借入并卖出少于100股的股票，押注股票会下跌——无论在当时还是现在，这都是一个昂贵且有风险的赌注。）</blockquote></p><p> “If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p><p><blockquote>“如果这些人是投资者，”格雷厄姆问道，“我们应该如何定义‘投机’和‘投机者’？难道目前未能区分投资和投机的做法不仅会对个人，而且会对整个金融界造成严重伤害吗——就像20世纪20年代末那样？”</blockquote></p><p> Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p><p><blockquote>格雷厄姆并不是一个认为市场应该是富人专属游乐场的势利小人。他写了《聪明的投资者》，明确的目的是帮助不太富裕的人明智地参与股市。</blockquote></p><p> In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p><p><blockquote>格雷厄姆在那本书（本专栏就是以其命名的）中说：“彻头彻尾的投机既不违法、不道德，也（对大多数人来说）不会让钱包发胖。”</blockquote></p><p> However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p><p><blockquote>然而，他警告说，这会带来三种危险：“（1）当你认为自己在投资时进行投机；（2）当你缺乏适当的知识和技能时，认真地投机而不是作为一种消遣；以及（3）冒更多钱的风险投机超出了你的承受能力。”</blockquote></p><p> Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p><p><blockquote>大多数投资者每隔一段时间就会投机一点。就像彩票或偶尔去赛马场或赌场一样，一点点是无害的乐趣。很多都不是。</blockquote></p><p> If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p><p><blockquote>如果你认为你在投机时是在投资，你会将哪怕是短暂的成功归因于技能，即使运气是最可能的解释。这会导致你冒鲁莽的风险。</blockquote></p><p> Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p><p><blockquote>把投机看得太重，它会变成一种痴迷和上瘾。你变得无法接受你的损失，也无法关注未来超过几分钟。接下来你知道的是，你在篝火上投入了更多的钱。</blockquote></p><p> I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p><p><blockquote>我认为，将交易者和投机者称为“投资者”会将许多新来者推向他们不应该承担的风险和他们无法承受的损失的滑坡。我热切地希望《华尔街日报》及其编辑最终不再使用“投资者”作为任何进行交易的人的默认术语。</blockquote></p><p> “ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p><p><blockquote>“‘投资者’在英语中作为一个包罗万象的术语有着悠久的历史，指的是那些投入资本并期望回报的人，无论时间长短，无论他们阅读的投资专栏有多少，”《华尔街日报》财经编辑查尔斯·福雷尔在回应我的投诉时说道。“至少可以追溯到19世纪中叶，‘投资’甚至被用来描述赌马——这种活动与基本面分析的脱节程度肯定不亚于购买狗狗币。”</blockquote></p><p></p><p> I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p><p><blockquote>我听到了，老板，但我还是认为你错了。《华尔街日报》不可能仅仅因为字典上说我们可以，就说一个休闲赌徒在赛马场“投资”。</blockquote></p><p> Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p><p><blockquote>将新手投机者称为“投资者”是营销人员助长过度交易的最有力方式之一。</blockquote></p><p> Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p><p><blockquote>在最近的Instagram帖子中，一位名叫拉娜·罗迪斯(Lana Rhoades)的前色情明星穿着——嗯，大部分是穿着——比基尼，举着似乎是格雷厄姆的《聪明的投资者》。据IMDb.com报道，她主演了《Tushy》和《Make Me Meow》等视频。</blockquote></p><p> In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p><p><blockquote>在她被近180万人“点赞”的帖子中，罗迪斯宣布她将推广一种名为PAWGCoin的加密货币。</blockquote></p><p> The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p><p><blockquote>该货币的网站称，这枚硬币是为“那些向发达的后躯致敬的人”准备的。（我得到可靠消息，PAWG代表胖屁股白人女孩。）</blockquote></p><p> PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p><p><blockquote>据追踪此类数字货币的网站Poocoin.io称，自Rhoades女士6月初开始推广PAWGcoin以来，PAWGcoin已上涨约900%。</blockquote></p><p> Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p><p><blockquote>罗迪斯女士在推特上写道“我每天早上也阅读《华尔街日报》”，但记者无法联系到她置评。PAWGcoin的网站鼓励访问者“立即投资”。</blockquote></p><p> In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</p><p><blockquote>在罗迪斯的Instagram帖子中，她举着一本打开的《聪明的投资者》，封面是颠倒的。她似乎是闭着眼睛读的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">The Wall Street Journal</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",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198275684,"gmtCreate":1620966259448,"gmtModify":1634194892637,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/198275684","repostId":"2135945620","repostType":4,"isVote":1,"tweetType":1,"viewCount":1438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190946025,"gmtCreate":1620575701967,"gmtModify":1634197953344,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/190946025","repostId":"1147179681","repostType":4,"repost":{"id":"1147179681","kind":"news","pubTimestamp":1620458192,"share":"https://www.laohu8.com/m/news/1147179681?lang=zh_CN&edition=full","pubTime":"2021-05-08 15:16","market":"us","language":"en","title":"The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147179681","media":"Benzinga","summary":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, ","content":"<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</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\">\nThe Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More<blockquote>大麻一周：新Tilray、Jazz-GW Pharma、收益、并购等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-05-08 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a ...</p><p><blockquote><div>对于大麻行业来说，这是多事的一周。周一，经过数月的谈判，Tilray，Inc.（纳斯达克：TLRY）和Aphria，Inc.（纳斯达克：APHA）完成了合并，创建了一家拥有...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CNBX":"CNBX Pharmaceuticals Inc.","CNTMF":"FLUENT CORP","TLRY":"Tilray Inc.","CNBS":"Amplify Seymour Cannabis ETF","YOLO":"AdvisorShares Pure Cannabis ETF","MSRT":"MassRoots, Inc.","GTBIF":"Green Thumb Industries Inc.","SNDL":"SNDL Inc.","GWPH":"GW Pharmaceuticals plc","NGD":"New Gold","APHA":"Aphria Inc.","JUSHF":"Jushi Holdings Inc.","THCX":"Innovation Shares Cannabis ETF","TCNNF":"Trulieve Cannabis Corporation","MJ":"Amplify Alternative Harvest ETF","MSOS":"AdvisorShares Pure US Cannabis ETF","SPY":"标普500ETF","JAZZ":"爵士制药"},"source_url":"https://www.benzinga.com/markets/cannabis/21/05/21021448/the-week-in-cannabis-the-new-tilray-jazz-gw-pharma-earnings-m-a-and-more","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147179681","content_text":"This was an eventful week for the cannabis industry.On Monday,Tilray, Inc.(NASDAQ:TLRY) and Aphria, Inc.(NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion.Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.Jazz Pharmaceuticals(NASDAQ:JAZZ) finalized its acquisition of GW Pharmaceuticals plc.(NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma's cash.Meanwhile,Ascend Wellness Holdings(CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.After two weeks of consolidating below resistance at the $1 level, shares of Reddit favorite Sundial Growers Inc. have resumed their downtrend.Credit Suisse Group AG(NYSE:CS) reportedly stopped handling transactions in shares of cannabis companies with U.S. operations and plans to refrain from holding cannabis stocks on behalf of its clients.The Swiss-based lender, which declined to give a statement, was among a handful of banks willing to buy and sell marijuana-related stocks and hold the shares as a custodian for clients in the United States. While it's not yet clear what impact this decision will have, Reuters reported the move has affected the sale of marijuana stocks in recent weeks.In fact, all major ETFs were down. Over the five trading days of this week:TheETFMG Alternative Harvest ETF(NYSE:MJ): lost 0.2%.The$AdvisorShares Pure Cannabis ETF(YOLO)$(NYSE:YOLO): tumbled 1.8%.TheAdvisorShares Pure US Cannabis ETF(NYSE:MSOS): shed 0.2% of its value.TheCannabis ETF(NYSE:THCX): dropped 3.4%.TheAmplify Seymour Cannabis ETF(NYSE:CNBS): was down 3.5%.TheSPDR S&P 500 ETF Trust(NYSE:SPY) closed the week up 1.21%.Policy, Science And DataIn New York, people gathered to celebrate cannabis legalization.“Last weekend's annual New York City cannabis parade brought out a who's who in politicians jockeying for position to be the one who wasalwayssupportive of legalizing cannabis. Ah-hem. Water under the bridge shall we say,” commented Debra Borchardt, CEO ofGreen Market Report. “With adult use cannabis sales likely to be legal by next year's parade, the people who attended were clearly in a celebratory mood. The New York market is expected to be the largest in the country and there were many small businesses working the crowd. There should be a Tinder app for social equity applicants to hook up with investors as there was a lot of talk about social equity applicants, but most have no money or very little.”In ColoradoGov. Jared Polis signed a bill that would expand access to medical cannabis for school children in need by removing obstacles to its administration.Financings And M&AJushi Holdings Inc.(CSE:JUSH) (OTC:JUSHF) finalized its purchase of a 93,000 sq. ft. facility operated by its subsidiary,Dalitso LLC, for around $22 million. The deal also includes nearly nine acres of surrounding land in Prince William County, Virginia.High Tide Inc.(TSXV:HITI) (OTCQB:HITIF) (FRA: 2LY) will acquire 80% ofFab Nutrition, LLC. (operating as FABCBD) for $20.64 million in stock and cash.MassRoots, Inc.(OTC:MSRT) is looking to acquireEmpire Services, Inc. for $14 million in a primarily stock-based transaction.Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) purchased West Virginia-basedMountaineer Holding LLCfor $6 million.Cansortium Inc.(CSE:TIUM), (OTCQB:CNTMF), doing business under the Fluent brand, exercised its right to regain up to the maximum of $5 million of convertible promissory notes, originally issued in the amount of $10 million in 2019.Green Thumb Industries Inc.(CSE:GTII) (OTCQX:GTBIF) will reach the Virginia market via its acquisition ofDharma Pharmaceuticals LLC.Earnings ReportsKiaro Holdings Corp.(TSXV:KO) reported record revenues of CA$17.1 million in 2021, representing a year-over-year increase of 230%. Same-store sales spiked 58% over the same period.Cansortium Inc.(CSE:TIUM) (OTCQB:CNTMF), which operates under the Fluent brand, announced its fourth-quarter and full-year 2020 financial results, with consolidated revenue of $14.7 million for the three months ending Dec. 31, up 54% year-over-year.Scotts Miracle-Gro (NYSE:SMG) reported that company-wide sales grew by 32% year-over-year reaching $1.83 billion in the second quarter. For the first half of fiscal 2021, the company reported sales of $2.58 billion, up by 47% from $1.75 billion in sales posted a year ago.Sales for the cannabis-focused Hawthorne segment climbed up to $363.8 million, representing a 66% year-over-year increase.Lowell Farms Inc.(CSE:LOWL) (OTCQX:LOWLF) generated $11 million in revenue during the first quarter of the 2021 fiscal year, representing an increase of 17% year-over-year.Cannabis REITInnovative Industrial Properties, Inc.(NYSE:IIPR) announced its total revenue increased by 103% year-over-year to $42.9 million in the first quarter of 2021. Net income for the same period was roughly $25.6 million, or $1.05 per diluted share, representing an annual growth of 122%.POSaBIT Systems Corporation(CSE:PBIT) (OTCQX:POSAF) reported its total revenue increased by 327% year-over-year, hitting roughly $3.06 million in the fourth quarter of 2020. Total revenue amounted to $7.82 million in 2020, representing an annual increase of 127%.Cronos Group Inc (NASDAQ: CRON) reported a Q1 adjusted EBITDA loss of $37.07 million, marginally up from $37.05 million reported a year ago. This slight increase in losses was primarily driven by the rise in sales and marketing costs due to brand development in the U.S. segment and an increase in R&D costs.Hemp cultivation and processing brandHempFlaxposted its full-year 2020 earnings report, with revenues of €14.5 million ($17.4 million), up 43% from 2019's $10.1 million. EBITDA increased 63% from 2019, totaling €1.8 million, marking the company's second profitable year. EBITDA margins increased to 12.7% from the previous year's 11.1%.Planet 13 Holdings Inc.(CSE:PLTH) (OTCQX:PLNHF) generated record sales in April of $10.7 million — almost as much as last year’s total second-quarter revenue of $10.8 million.Other NewsCanadian hospital Sunnybrook Health Sciences Centre and Avicana Inc(OTC:AVCNF) announced a partnership to provide medical cannabis products on-site through the Odette Cancer Centre Pharmacy.Orchid Ventures Inc(OTC:ORVRD) entered an exclusive licensing agreement with Gold Flora. Per the agreement, Gold Flora will be assuming all production, sales, and distribution of Orchid Essentials products throughout the state of California, and purchasing all hardware, packaging, and terpenes through PurTecDelivery Systems, a wholly-owned subsidiary of Orchid Ventures.“As one of the highest growth operators in the state, we are confident that Gold Flora's leadership and quality of their operations will accelerate Orchid's growth potential, further establishing the brand as a leader in the largest recreational cannabis market in the world, California,” Corey Mangold, CEO and chairman of Orchid Ventures, told Benzinga.Applied DNA Sciences, Inc.(NASDAQ:APDN) signed a new contract with the Defense Logistics Agency’s (DLA) Land and Maritime’s Product Test Center (PTC) with a maximal value of $1.04 million.MedMen Enterprises Inc(CSE:MMEN) (OTC:MMNFF) announced the opening of its first Miami Beach, Florida location.Tamerlane Tradinglaunched an online quality-verified marketplace for wholesale and bulk cannabis, calling the move the first and only cannabis marketplace of its kind in the world.“Our overall goal with the new online marketplace is to establish trust and transparency in the cannabis industry. By including quality verification and grading of cannabis product, wholesale buyers and suppliers will benefit,” said Jhavid Mohseni, CEO of Tamerlane Trading.Acreage Holdings, Inc.(CSE:ACRG) (OTC:ACRGF) andMedterra CBD, LLCare joining forces to develop a CBD-based collection of products.Sitka Hash Househas launched its handmade hashish-based products into the California market with manufacturing partner, Garden Society. Founded in 2012, Sitka claims 9 out of the top 10 hashish SKUs in Washington state.Sitka CEO Jeff Graham told Benzinga, “Interstate expansion offers us the opportunity to provide our original cannabis concentrates to new audiences. We are proud to enter California with the Garden Society as our manufacturer and HERBL as our distributor.”The Aster Farms team tracked their energy consumption, CO2e emissions, water use, solid waste as well as their hiring practices over the last year. The company now released its first annual Sustainability Report.“Sustainability is part of our company's DNA,” shared Aster Farms CEO and co-founder Julia Jacbonson. “From regenerative agriculture and recyclable packaging to inclusive hiring practices, we understand that sustainable farming is only part of the story.”“The cannabis industry is in a unique position to change the paradigm of what a successful company looks and feels like and what is considered most important,” she added.Newly released podcastHighly Unlikely,hosted by standup comedianAlex Gettlinand produced by Wikileaf, dives into the absurdity of the world we live in. Each episode features famed comedian guests losing their minds over some very real and strange facts while trying various new cannabis products.Canadian licensed cannabis producers and global markets will have access to time-tested, feminized, organic-certified cannabis seeds. This is thanks to a new partnership betweenHumboldt Seed CompanyandNymera,which will allow not only the production and sale of the seeds in Canada, but also the export of these genetics to other countries with legal cannabis markets around the world.This is the first time a cannabis seed is certified as organic.Calyxtannounced advancements in technology that will make it easier for scientists to bring advanced breeding into hemp. The company, an expert at improving crops like soybeans and wheat to produce more heart-healthy oil or higher fiber, announced its scientists have transformed hemp – an important step as the company can now engineer the hemp genome, unlocking capabilities to selectively breed and deliver improvements in hemp traits through advanced plant breeding like gene editing or even GM level engineering.“We were able to change the plants DNA and regenerate plants through tissue culture, thus accomplishing something that has been fairly elusive in hemp to date,\" said Travis Frey, Ph.D., chief technology officer of Calyxt. “By modernizing the hemp crop, we can now deliver traits that benefits both growers and consumers who are increasingly looking for plant-based and sustainable foods, materials, cosmeceuticals, nutraceuticals and more.\"Zelira Therapeutics Ltd(ASX:ZLD) (OTCQB:ZLDAF) launched its HOPE line of cannabis products in Washington DC. The product line, especially formulated for autism spectrum disorder (ASD) patients of all ages, is also available in Pennsylvania, Louisiana and Australia.“Since we first launched HOPE in the US, our long-term goal has been to make it accessible to ASD patients everywhere, and Washington DC's reciprocity allows us to take a huge step in that direction here in the US,” Dr. Oludare Odumosu, CEO of Zelira Therapeutics, told Benzinga. “The nation's capital is one of the most popular travel destinations, so we are thrilled to be able to offer HOPE there as a treatment option for ASD patients from around the country who travel to DC.”Cannabics Pharmaceuticals Inc.(OTCQB:CNBX), received a “Notice of Allowance” from the Mexican Patent and Trademark Office (IMPI) for a patent on a “System and method for high throughput screening of cancer cells.”Executive MovesCBD products distributor,Khode LLC., announced Tuesday it formed its first board of directors consisting of music artists, executives and CBD industry veterans, including Grammy award-winning artists and entrepreneurDJ Khaled, music executiveLenny S, CEO ofEndexx Corporation(OTC:EDXC)Todd Davis, andStephen HerronandRon CottingofCBD Unlimited, Inc.","news_type":1,"symbols_score_info":{"NGD":0.9,"YOLO":0.9,"CNBX":0.9,"HITIF":0.9,"GWPH":0.9,"CNBS":0.9,"APHA":0.9,"CNTMF":0.9,"JUSHF":0.9,"TLRY":0.9,"SPY":0.9,"MSRT":0.9,"THCX":0.9,"TCNNF":0.9,"MJ":0.9,"MSOS":0.9,"JAZZ":0.9,"GTBIF":0.9,"CS":0.9,"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124406875,"gmtCreate":1624776496297,"gmtModify":1631887479442,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124406875","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":1420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132278622,"gmtCreate":1622095567766,"gmtModify":1634183871776,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/132278622","repostId":"1173192682","repostType":4,"isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197620176,"gmtCreate":1621465140395,"gmtModify":1634189039195,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/197620176","repostId":"1103552481","repostType":4,"repost":{"id":"1103552481","kind":"news","pubTimestamp":1621428667,"share":"https://www.laohu8.com/m/news/1103552481?lang=zh_CN&edition=full","pubTime":"2021-05-19 20:51","market":"us","language":"en","title":"3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103552481","media":"Barrons","summary":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but inv","content":"<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午2点公布，美联储观察人士在解读其意义时可能会面临比平时更大的挑战：自4月28日至29日的会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同，美国国债并没有出现引人注目的抛售来引起官员的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件仍可能为央行的观点提供一些线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是策略师对今天会议的预期，以及克拉里达对这些主题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“适应并关注”“暂时性”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆·鲍威尔（Jerome Powell）在内的美联储官员的一个流行观点是，今年春天预计将带来通胀“暂时”上升，这主要与去年疫情导致经济活动急剧减速后美国经济重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家Steven Ricchiuto和Alex Pelle在5月18日的一份报告中写道，他们预计会议纪要中“多次提到‘暂时’价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最严重的行业，例如酒店和机票。“到目前为止，这证实了美联储的想法，”他们补充道。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种关于通胀的不同类型的保证：央行将“协调并关注”任何显示价格压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在CPI报告中，[重新开放]确实明显给价格带来了上行压力。现在我们的基线观点是，其中大部分可能是暂时的，但我们必须适应并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳定的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会使用我们的工具来解决这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥形时间表</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否就何时开始削减每月1200亿美元的债券购买量提供任何额外指导。鲍威尔曾表示，美联储希望在削减购买之前，在实现充分就业和长期平均通胀率2%的目标方面取得“实质性的进一步进展”，但官员们没有提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计，美联储将在今年夏末或秋季讨论减少或缩减购买规模的长期计划。NatWest Markets在周一的一份报告中表示，预计美联储将在9月份开始谈论缩减购债规模，并在明年实际上开始放缓购债步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能令投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳工市场展望</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储债券购买（和其他宽松政策）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这一问题仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者仍有可能在会议纪要中找到有关他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在4月份劳动力市场令人失望的消息传出之前，华尔街大多数人预计这个月将创造就业机会强劲，这是鲍威尔曾表示，在美国实现“实质性的进一步进展”之前，需要实现“一系列”强劲复苏的又一步。美联储的目标。这可能促使官员们讨论复苏需要走多远，央行才能开始退出。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“四月份就业报告告诉我的是，我们使劳动力市场，特别是服务业供需平衡的方式可能需要一些时间，并且随着工人重返就业，可能会对价格产生一些上行压力，因此我们必须适应并关注数据流，”他说。“根据四月份就业报告，我们没有取得实质性的进一步进展，但随着数据的出现，我们作为一个委员会将不得不对其进行评估，并最终做出判断。”</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>最终，未来劳动力市场数据的重要性暗示了美联储会议纪要的更广泛结论：未来几个月的经济数据可能是美联储行动及其取消市场和经济宽松计划的最终仲裁者。在重新开放期间，经济数据波动如此之大，以至于到美联储6月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不再持有一段时间才能了解央行计划何时开始退出。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>BMO策略师Ian Lyngen写道：“我们不愿意将这种均衡视为任何形式的均衡，相反，随着宏观预期的进一步细化，它更有可能被证明是一种暂时的持有模式。”“显然，我们的问题多于答案。”</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>3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</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\">\n3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 20:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午2点公布，美联储观察人士在解读其意义时可能会面临比平时更大的挑战：自4月28日至29日的会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同，美国国债并没有出现引人注目的抛售来引起官员的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件仍可能为央行的观点提供一些线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是策略师对今天会议的预期，以及克拉里达对这些主题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“适应并关注”“暂时性”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆·鲍威尔（Jerome Powell）在内的美联储官员的一个流行观点是，今年春天预计将带来通胀“暂时”上升，这主要与去年疫情导致经济活动急剧减速后美国经济重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家Steven Ricchiuto和Alex Pelle在5月18日的一份报告中写道，他们预计会议纪要中“多次提到‘暂时’价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最严重的行业，例如酒店和机票。“到目前为止，这证实了美联储的想法，”他们补充道。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种关于通胀的不同类型的保证：央行将“协调并关注”任何显示价格压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在CPI报告中，[重新开放]确实明显给价格带来了上行压力。现在我们的基线观点是，其中大部分可能是暂时的，但我们必须适应并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳定的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会使用我们的工具来解决这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥形时间表</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否就何时开始削减每月1200亿美元的债券购买量提供任何额外指导。鲍威尔曾表示，美联储希望在削减购买之前，在实现充分就业和长期平均通胀率2%的目标方面取得“实质性的进一步进展”，但官员们没有提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计，美联储将在今年夏末或秋季讨论减少或缩减购买规模的长期计划。NatWest Markets在周一的一份报告中表示，预计美联储将在9月份开始谈论缩减购债规模，并在明年实际上开始放缓购债步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能令投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳工市场展望</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储债券购买（和其他宽松政策）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这一问题仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者仍有可能在会议纪要中找到有关他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在4月份劳动力市场令人失望的消息传出之前，华尔街大多数人预计这个月将创造就业机会强劲，这是鲍威尔曾表示，在美国实现“实质性的进一步进展”之前，需要实现“一系列”强劲复苏的又一步。美联储的目标。这可能促使官员们讨论复苏需要走多远，央行才能开始退出。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“四月份就业报告告诉我的是，我们使劳动力市场，特别是服务业供需平衡的方式可能需要一些时间，并且随着工人重返就业，可能会对价格产生一些上行压力，因此我们必须适应并关注数据流，”他说。“根据四月份就业报告，我们没有取得实质性的进一步进展，但随着数据的出现，我们作为一个委员会将不得不对其进行评估，并最终做出判断。”</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>最终，未来劳动力市场数据的重要性暗示了美联储会议纪要的更广泛结论：未来几个月的经济数据可能是美联储行动及其取消市场和经济宽松计划的最终仲裁者。在重新开放期间，经济数据波动如此之大，以至于到美联储6月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不再持有一段时间才能了解央行计划何时开始退出。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>BMO策略师Ian Lyngen写道：“我们不愿意将这种均衡视为任何形式的均衡，相反，随着宏观预期的进一步细化，它更有可能被证明是一种暂时的持有模式。”“显然，我们的问题多于答案。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103552481","content_text":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.\nThe minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:  A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a surprisingly weak jobs report and a stronger-than-expected consumer inflation report, for example.\nAnd unlike last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April. The 10-year yield has dropped to 1.64% from 1.74% on March 31.\nYet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.\nHere’s what strategists expect out of the meeting today, and what Clarida said about the topics:\n“Attuned and Attentive” to “Transitory” Inflation?\nOne popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.\nMizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.\nYet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:  That the central bank would be “attuned and attentive” to any data showing higher price pressures.\n“In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”\nTaper Timeline\nInvestors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.\nMost on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.\nSo any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.\nLabor-Market Outlook\nOne key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.\nStill, there is a chance investors could find more context on one of their questions in the minutes:  How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?\nBefore the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.\nClarida discussed the April employment report on Monday as well.\n“What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”\nUltimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:  Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the economic data has been so volatile during the reopening that the picture could change significantly by the time the Fed meets again in June.\nThat means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.\n“We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376907335,"gmtCreate":1619076886027,"gmtModify":1634288731084,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Feels too volatile","listText":"Feels too volatile","text":"Feels too volatile","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/376907335","repostId":"2129872922","repostType":4,"repost":{"id":"2129872922","kind":"highlight","pubTimestamp":1619076483,"share":"https://www.laohu8.com/m/news/2129872922?lang=zh_CN&edition=full","pubTime":"2021-04-22 15:28","market":"us","language":"en","title":"Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says<blockquote>分析师表示，购买Coinbase股票，因为加密货币已达到“合法性拐点”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2129872922","media":"MarketWatch","summary":"Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pull","content":"<p>Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices</p><p><blockquote>罗森布拉特的霍根看好长期上涨空间，但鉴于加密货币价格回调的风险，近期更加谨慎</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/59ac349ba929df706908af2cc08474a4\" tg-width=\"1260\" tg-height=\"712\"><span>AFP VIA GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社来自盖蒂图片社</span></p></blockquote></p><p> Coinbase Global Inc. received yet another bullish endorsement from a Wall Street analyst on Wednesday, with Rosenblatt Securities analyst Sean Horgan expects the cryptocurrency exchange stands to be a \"long-term category leader.\"</p><p><blockquote>Coinbase Global Inc.周三再次获得华尔街分析师的看涨认可，Rosenblatt Securities分析师Sean Horgan预计该加密货币交易所将成为“长期类别领导者”。</blockquote></p><p> Horgan initiated coverage of Coinbase with a buy rating and a stock price target of $450, which is about 46% above current levels.</p><p><blockquote>Horgan首次对Coinbase给予买入评级，目标股价为450美元，较当前水平高出约46%。</blockquote></p><p> That keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week.</p><p><blockquote>这使得它保持一致，因为FactSet调查的所有六位分析师都对Coinbase给予了相当于买入的评级。平均目标价为509.00美元，是该股上周上市时确定的250美元参考价的两倍多。</blockquote></p><p> The stock dropped 3.7% in morning trading Wednesday, to trade 5.9% below where it closed on its first day of trading on April 14 .</p><p><blockquote>该股周三早盘下跌3.7%，较4月14日首日交易收盘价低5.9%。</blockquote></p><p> Horgan said he was bullish on the long-term upside of Coinbase, as it is set to benefit from the growing adoption and acceptance of cryptocurrencies. He said he was more cautious for the short-term, however, as \"the stock faces downside risk from the drawdown in the price of crypto.\"</p><p><blockquote>霍根表示，他看好Coinbase的长期上涨空间，因为它将受益于加密货币的日益普及和接受。不过，他表示，他对短期更加谨慎，因为“该股面临加密货币价格下跌带来的下行风险”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca969a8b8f33073bca39b20d25585859\" tg-width=\"1240\" tg-height=\"584\"><span>FACTSET</span></p><p><blockquote><p class=\"t-img-caption\"><span>FACTSET</span></p></blockquote></p><p> Bitcoin was down 1.4% in morning trading Wednesday, and has shed 12.4% since closing at a record $63,434.45 on April 13, according to FactSet data. Despite the recent pullback, bitcoin has still climbed 91.6% year to date and soared 712.7% over the past 12 months. In comparison, the S&amp;P 500 index has gained 10.4% this year and rallied 51.5% over the past year.</p><p><blockquote>FactSet数据显示，比特币周三早盘下跌1.4%，自4月13日收于创纪录的63,434.45美元以来已下跌12.4%。尽管近期出现回调，比特币今年迄今仍上涨91.6%，过去12个月飙升712.7%。相比之下，标普500指数今年上涨了10.4%，去年上涨了51.5%。</blockquote></p><p> Last week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the \"primary beneficiary\" of the increased adoption of bitcoin and other digital assets, especially be institutional investors.</p><p><blockquote>上周，BTIG分析师Mark Palmer首次对Coinbase给予买入评级和500美元的股价目标，并表示他相信该加密货币交易所将成为比特币和其他数字资产采用增加的“主要受益者”，尤其是机构投资者。</blockquote></p><p> \"We believe [Coinbase] should be regarded as the market leader in a category characterized by rapid and apparently sustainable growth driven by significant changes in consumers' behaviors and their adoption of new technology,\" Palmer wrote in a research note.</p><p><blockquote>帕尔默在一份研究报告中写道：“我们认为，[Coinbase]应该被视为该类别的市场领导者，该类别的特点是在消费者行为的重大变化及其对新技术的采用的推动下实现快速且明显可持续的增长。”</blockquote></p><p> Rosenblatt's Horgan said he believes it's \"reasonable\" to assume the potential for cryptocurrency market value to increase by about fivefold to the approximately $11 trillion market value of gold over the next years. He said Coinbase's current 11% share of the crypto market leaves it in \"pole position\" to capitalize on that growth.</p><p><blockquote>Rosenblatt的Horgan表示，他认为，假设未来几年加密货币市值有可能增长约五倍，达到约11万亿美元的黄金市值是“合理的”。他表示，Coinbase目前在加密货币市场11%的份额使其在利用这一增长方面处于“领先地位”。</blockquote></p><p> \"Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,\" Horgan wrote in a note to clients. \"Net/net, we are buyers of [Coinbase's stock] as a long-term category leader and pure-play cryptocurrency stock.\"</p><p><blockquote>霍根在给客户的一份报告中写道：“加密货币在通往合法性的道路上已经达到了一个拐点，我们认为这是一种长期的颠覆性趋势，而且还处于早期阶段。”“净/净，作为长期类别领导者和纯粹的加密货币股票，我们是[Coinbase股票]的买家。”</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>Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says<blockquote>分析师表示，购买Coinbase股票，因为加密货币已达到“合法性拐点”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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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\">\nBuy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says<blockquote>分析师表示，购买Coinbase股票，因为加密货币已达到“合法性拐点”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-04-22 15:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices</p><p><blockquote>罗森布拉特的霍根看好长期上涨空间，但鉴于加密货币价格回调的风险，近期更加谨慎</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/59ac349ba929df706908af2cc08474a4\" tg-width=\"1260\" tg-height=\"712\"><span>AFP VIA GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社来自盖蒂图片社</span></p></blockquote></p><p> Coinbase Global Inc. received yet another bullish endorsement from a Wall Street analyst on Wednesday, with Rosenblatt Securities analyst Sean Horgan expects the cryptocurrency exchange stands to be a \"long-term category leader.\"</p><p><blockquote>Coinbase Global Inc.周三再次获得华尔街分析师的看涨认可，Rosenblatt Securities分析师Sean Horgan预计该加密货币交易所将成为“长期类别领导者”。</blockquote></p><p> Horgan initiated coverage of Coinbase with a buy rating and a stock price target of $450, which is about 46% above current levels.</p><p><blockquote>Horgan首次对Coinbase给予买入评级，目标股价为450美元，较当前水平高出约46%。</blockquote></p><p> That keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week.</p><p><blockquote>这使得它保持一致，因为FactSet调查的所有六位分析师都对Coinbase给予了相当于买入的评级。平均目标价为509.00美元，是该股上周上市时确定的250美元参考价的两倍多。</blockquote></p><p> The stock dropped 3.7% in morning trading Wednesday, to trade 5.9% below where it closed on its first day of trading on April 14 .</p><p><blockquote>该股周三早盘下跌3.7%，较4月14日首日交易收盘价低5.9%。</blockquote></p><p> Horgan said he was bullish on the long-term upside of Coinbase, as it is set to benefit from the growing adoption and acceptance of cryptocurrencies. He said he was more cautious for the short-term, however, as \"the stock faces downside risk from the drawdown in the price of crypto.\"</p><p><blockquote>霍根表示，他看好Coinbase的长期上涨空间，因为它将受益于加密货币的日益普及和接受。不过，他表示，他对短期更加谨慎，因为“该股面临加密货币价格下跌带来的下行风险”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca969a8b8f33073bca39b20d25585859\" tg-width=\"1240\" tg-height=\"584\"><span>FACTSET</span></p><p><blockquote><p class=\"t-img-caption\"><span>FACTSET</span></p></blockquote></p><p> Bitcoin was down 1.4% in morning trading Wednesday, and has shed 12.4% since closing at a record $63,434.45 on April 13, according to FactSet data. Despite the recent pullback, bitcoin has still climbed 91.6% year to date and soared 712.7% over the past 12 months. In comparison, the S&amp;P 500 index has gained 10.4% this year and rallied 51.5% over the past year.</p><p><blockquote>FactSet数据显示，比特币周三早盘下跌1.4%，自4月13日收于创纪录的63,434.45美元以来已下跌12.4%。尽管近期出现回调，比特币今年迄今仍上涨91.6%，过去12个月飙升712.7%。相比之下，标普500指数今年上涨了10.4%，去年上涨了51.5%。</blockquote></p><p> Last week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the \"primary beneficiary\" of the increased adoption of bitcoin and other digital assets, especially be institutional investors.</p><p><blockquote>上周，BTIG分析师Mark Palmer首次对Coinbase给予买入评级和500美元的股价目标，并表示他相信该加密货币交易所将成为比特币和其他数字资产采用增加的“主要受益者”，尤其是机构投资者。</blockquote></p><p> \"We believe [Coinbase] should be regarded as the market leader in a category characterized by rapid and apparently sustainable growth driven by significant changes in consumers' behaviors and their adoption of new technology,\" Palmer wrote in a research note.</p><p><blockquote>帕尔默在一份研究报告中写道：“我们认为，[Coinbase]应该被视为该类别的市场领导者，该类别的特点是在消费者行为的重大变化及其对新技术的采用的推动下实现快速且明显可持续的增长。”</blockquote></p><p> Rosenblatt's Horgan said he believes it's \"reasonable\" to assume the potential for cryptocurrency market value to increase by about fivefold to the approximately $11 trillion market value of gold over the next years. He said Coinbase's current 11% share of the crypto market leaves it in \"pole position\" to capitalize on that growth.</p><p><blockquote>Rosenblatt的Horgan表示，他认为，假设未来几年加密货币市值有可能增长约五倍，达到约11万亿美元的黄金市值是“合理的”。他表示，Coinbase目前在加密货币市场11%的份额使其在利用这一增长方面处于“领先地位”。</blockquote></p><p> \"Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,\" Horgan wrote in a note to clients. \"Net/net, we are buyers of [Coinbase's stock] as a long-term category leader and pure-play cryptocurrency stock.\"</p><p><blockquote>霍根在给客户的一份报告中写道：“加密货币在通往合法性的道路上已经达到了一个拐点，我们认为这是一种长期的颠覆性趋势，而且还处于早期阶段。”“净/净，作为长期类别领导者和纯粹的加密货币股票，我们是[Coinbase股票]的买家。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-coinbase-stock-as-crypto-has-reached-an-inflection-point-to-legitimacy-analyst-says-11619013827?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":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.marketwatch.com/story/buy-coinbase-stock-as-crypto-has-reached-an-inflection-point-to-legitimacy-analyst-says-11619013827?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129872922","content_text":"Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices\nAFP VIA GETTY IMAGES\nCoinbase Global Inc. received yet another bullish endorsement from a Wall Street analyst on Wednesday, with Rosenblatt Securities analyst Sean Horgan expects the cryptocurrency exchange stands to be a \"long-term category leader.\"\nHorgan initiated coverage of Coinbase with a buy rating and a stock price target of $450, which is about 46% above current levels.\nThat keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week.\nThe stock dropped 3.7% in morning trading Wednesday, to trade 5.9% below where it closed on its first day of trading on April 14 .\nHorgan said he was bullish on the long-term upside of Coinbase, as it is set to benefit from the growing adoption and acceptance of cryptocurrencies. He said he was more cautious for the short-term, however, as \"the stock faces downside risk from the drawdown in the price of crypto.\"\nFACTSET\nBitcoin was down 1.4% in morning trading Wednesday, and has shed 12.4% since closing at a record $63,434.45 on April 13, according to FactSet data. Despite the recent pullback, bitcoin has still climbed 91.6% year to date and soared 712.7% over the past 12 months. In comparison, the S&P 500 index has gained 10.4% this year and rallied 51.5% over the past year.\nLast week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the \"primary beneficiary\" of the increased adoption of bitcoin and other digital assets, especially be institutional investors.\n\"We believe [Coinbase] should be regarded as the market leader in a category characterized by rapid and apparently sustainable growth driven by significant changes in consumers' behaviors and their adoption of new technology,\" Palmer wrote in a research note.\nRosenblatt's Horgan said he believes it's \"reasonable\" to assume the potential for cryptocurrency market value to increase by about fivefold to the approximately $11 trillion market value of gold over the next years. He said Coinbase's current 11% share of the crypto market leaves it in \"pole position\" to capitalize on that growth.\n\"Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,\" Horgan wrote in a note to clients. \"Net/net, we are buyers of [Coinbase's stock] as a long-term category leader and pure-play cryptocurrency stock.\"","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819323791,"gmtCreate":1630035853113,"gmtModify":1704954974768,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Niceeee","listText":"Niceeee","text":"Niceeee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/819323791","repostId":"1177482103","repostType":4,"repost":{"id":"1177482103","kind":"news","pubTimestamp":1630032656,"share":"https://www.laohu8.com/m/news/1177482103?lang=zh_CN&edition=full","pubTime":"2021-08-27 10:50","market":"us","language":"en","title":"Snowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177482103","media":"Thestreet","summary":"Cloud software company Snowflake (SNOW) reported a second-quarter loss of 64 cents a share onrevenue","content":"<p>Cloud software company Snowflake&nbsp;(<b>SNOW</b>)&nbsp;reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.</p><p><blockquote>云软件公司雪花(<b>雪</b>）公布第二季度每股亏损64美分，营收为2.722亿美元，同比增长104%。</blockquote></p><p> Snowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.</p><p><blockquote>Snowflake首席执行官Frank Slootman在“Mad Money”节目中告诉Jim Cramer，Snowflake并没有创造对其产品的需求，而是实现了需求。Slootman说，当技术不再阻碍公司时，Snowflake就有可能实现更多。</blockquote></p><p> Cramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.</p><p><blockquote>Cramer告诉Action Alerts PLUS高级分析师Jeff Marks，Snowflake的“现收现付”使用模式将使财富500强中的每个客户都成为客户。</blockquote></p><p> \"[Snowflake] is the way of the future, right now,\" Cramer said.</p><p><blockquote>“[雪花]现在就是未来的发展方向，”克莱默说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</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\">\nSnowflake: Why Jim Cramer Thinks Every Fortune 500 Company Will Be a Customer<blockquote>Snowflake：为什么Jim Cramer认为每家财富500强公司都会成为客户</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-08-27 10:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud software company Snowflake&nbsp;(<b>SNOW</b>)&nbsp;reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.</p><p><blockquote>云软件公司雪花(<b>雪</b>）公布第二季度每股亏损64美分，营收为2.722亿美元，同比增长104%。</blockquote></p><p> Snowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.</p><p><blockquote>Snowflake首席执行官Frank Slootman在“Mad Money”节目中告诉Jim Cramer，Snowflake并没有创造对其产品的需求，而是实现了需求。Slootman说，当技术不再阻碍公司时，Snowflake就有可能实现更多。</blockquote></p><p> Cramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.</p><p><blockquote>Cramer告诉Action Alerts PLUS高级分析师Jeff Marks，Snowflake的“现收现付”使用模式将使财富500强中的每个客户都成为客户。</blockquote></p><p> \"[Snowflake] is the way of the future, right now,\" Cramer said.</p><p><blockquote>“[雪花]现在就是未来的发展方向，”克莱默说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/jim-cramer/jim-cramer-snowflake-customers-every-fortune-500-company\">Thestreet</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":{"SNOW":"Snowflake"},"source_url":"https://www.thestreet.com/jim-cramer/jim-cramer-snowflake-customers-every-fortune-500-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177482103","content_text":"Cloud software company Snowflake (SNOW) reported a second-quarter loss of 64 cents a share onrevenue of $272.2 million, up 104% from a year earlier.\nSnowflake CEO Frank Slootman told Jim Cramer on \"Mad Money\" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.\nCramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.\n\"[Snowflake] is the way of the future, right now,\" Cramer said.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1843,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137304223,"gmtCreate":1622294616162,"gmtModify":1634102470052,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137304223","repostId":"2138488778","repostType":4,"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134988973,"gmtCreate":1622200427092,"gmtModify":1634182922490,"author":{"id":"3575280267029660","authorId":"3575280267029660","name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575280267029660","idStr":"3575280267029660"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/134988973","repostId":"1149102561","repostType":4,"isVote":1,"tweetType":1,"viewCount":325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}