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Greenie
2021-02-26
😎
Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</blockquote>
Greenie
2021-02-26
Interesting
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Greenie
2021-02-26
👍🏻
How to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote>
Greenie
2021-02-06
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","listText":"😎 ","text":"😎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368806499","repostId":"1147687162","repostType":4,"repost":{"id":"1147687162","kind":"news","pubTimestamp":1614234296,"share":"https://www.laohu8.com/m/news/1147687162?lang=zh_CN&edition=full","pubTime":"2021-02-25 14:24","market":"us","language":"en","title":"Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147687162","media":"MarketWatch","summary":"Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but ana","content":"<p>Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut</p><p><blockquote>由于大流行和其他因素导致需求激增，芯片股的交易价格创历史新高，但分析师表示，尽管人们记得 2018 年短缺导致供应过剩，但半成品的持续供应短缺可能会推高芯片股</blockquote></p><p> A global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.</p><p><blockquote>全球半导体短缺已将芯片库存推至历史新高，分析师预计，随着 COVID-19 将世界进一步推向数字领域，以及该行业难以满足需求，芯片供应短缺至少将持续到今年年底。</blockquote></p><p> Chips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.</p><p><blockquote>对于汽车制造商和消费者来说，芯片一直很难买到，给一系列行业带来了困难。原因似乎是人们在 COVID-19 大流行期间抢购电子产品导致需求增加、满足这一需求的制造能力有限以及中美贸易战的综合作用。</blockquote></p><p> Maribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.</p><p><blockquote>洛佩兹研究公司（Lopez Research）首席分析师玛丽贝尔-洛佩兹（Maribel Lopez）在接受 MarketWatch 采访时表示，芯片行业正面临着供需问题的 “完美风暴”，这些问题不太可能很快得到解决。</blockquote></p><p> “Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”</p><p><blockquote>“洛佩兹说：”除非我们出现严重的经济崩溃（这显然是有可能的），否则现在发生的一件事是，几乎你买的任何东西都会有芯片。“你买不到愚蠢的产品。”</blockquote></p><p> While high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.</p><p><blockquote>她说，虽然预计2020年对移动设备芯片的高需求，但对基于PC的芯片的需求激增并非如此。洛佩兹指出，将芯片缩小到以前无法安装的地方的趋势使得制造过程变得更加复杂。疫情抓住了这些趋势，并给供应链和应对这些趋势的制造实践带来了额外的波动性。</blockquote></p><p> The full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.</p><p><blockquote>然而，直到通用汽车公司、福特汽车公司和其他汽车制造商最近表示，由于缺乏半导体，他们不得不停止某些车型的生产，芯片短缺的全部影响才波及到更广泛的市场。</blockquote></p><p> Amid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.</p><p><blockquote>由于行业领袖的担忧日益加剧，乔·拜登总统将于周三签署一项行政命令，呼吁审查可能过度依赖中国的美国关键制造业供应链，特别是涉及芯片和高容量电池的供应链。</blockquote></p><p> While the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.</p><p><blockquote>虽然短缺给消费者和企业带来了痛苦，但并没有伤害芯片行业。摩根大通分析师哈兰·苏尔 (Harlan Sur) 在最近的一份报告中表示，过去的财报季是该公司追踪的第一个财报季，所有涵盖的芯片制造商不仅超出了本季度的预期，而且超出了预测预期。</blockquote></p><p> Chip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.</p><p><blockquote>芯片股飙升至历史新高。追踪数十只最大芯片相关股票的 PHLX 半导体指数在过去 12 个月中上涨了 70% 以上，而标普500指数上涨了 21%，以科技股为主的纳斯达克综合指数上涨了 47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2597bfd2bf84e110ca8642c9ba437a06\" tg-width=\"937\" tg-height=\"680\"></p><p><blockquote></blockquote></p><p> Analysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”</p><p><blockquote>不过，分析师认为，随着需求推高价格并提振整个半导体领域的公司，未来可能会有更多涨幅。苏尔说，尽管库存基本面似乎捉襟见肘，“我们认为半导体公司的发货量比目前的需求水平低 10% 到 30%，供应至少需要 3-4 个季度才能赶上需求，然后客户/分销渠道的库存再需要 1-2 个季度才能补充到正常水平”。</blockquote></p><p> Susquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.</p><p><blockquote>萨斯奎哈纳金融分析师克里斯托弗·罗兰最近表示，他预计进入春季，芯片短缺只会变得更加严重。罗兰说，半导体的交货时间（即从交货到交货之间下订单的时间）正在进入一个超过 14 周的 “危险区”，这是自 2018 年上一次芯片繁荣以来最长的一次。</blockquote></p><p> While that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.</p><p><blockquote>罗兰表示，虽然这在短期内对芯片供应商和制造商来说可能是好事，一些公司估计需求将在几个季度内超过供应，但从长远来看，如果管理不善，可能会适得其反。</blockquote></p><p> The chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.</p><p><blockquote>芯片行业仍然记得不到三年前发生的事情，当时它正沉浸在供过于求的过剩中。当时，客户超买了芯片供应，锁定了较低的价格，因为在2018年芯片繁荣时期价格飙升，导致需求急剧下降，导致芯片制造商库存大增，股价暴跌。英伟达公司、美光科技公司和先进微设备公司以及其他行业参与者都受到了产能过剩的不利影响。</blockquote></p><p> Those companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.</p><p><blockquote>这些公司正在尽最大努力避免重蹈 2018 年繁荣结束时的痛苦以及由此导致的短缺。例如，英伟达表示，随着比特币和以太币等加密货币继续飙升至历史新高，它希望通过推出一款专为加密货币挖矿设计的芯片来缓解游戏卡短缺的问题。</blockquote></p><p></p><p> While claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.</p><p><blockquote>虽然 “这次不同 ”的说法应该始终持保留态度，但鉴于世界在过去一年中经历了前所未有的多种因素，这一次很可能会有所不同。Stifel 分析师 Matthew Sheerin 关注科技供应链问题，他更关心持续的供应链中断，而不是过度订购。</blockquote></p><p> “We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.</p><p><blockquote>“Sheering 说：”我们从无数零部件供应商和分销商那里听到了关于订单到账单水平上升和积压订单不断增加的问题，这通常是一个'双重订购'的危险信号。</blockquote></p><p> “We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”</p><p><blockquote>“Stifel 分析师说：”鉴于持续的供应限制以及对 21 年下半年需求改善的持续乐观态度，我们认为不会出现任何重大调整。“我们仍然更关心持续的供应中断和材料成本增加，而不是即将到来的多季度库存调整。”</blockquote></p><p> Chip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.</p><p><blockquote>芯片设备供应商似乎对芯片制造商扩大产能充满信心，因为现有晶圆厂无法很好地满足下一代设计需求。此前，芯片制造设备公司 KLA Corp. 和 Lam Research Corp. 公布了强劲的盈利和前景，并指出芯片制造商需要进一步扩大其制造能力。</blockquote></p><p> Case in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.</p><p><blockquote>一个典型的例子是，第三方制造巨头台积电公司（Taiwan Semiconductor Manufacturing Co.）表示，计划在2021年斥资280亿美元建设其工厂。在遇到自身工艺技术问题后，英特尔公司放弃了将制造芯片外包给台积电等公司的计划。</blockquote></p><p> AMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.</p><p><blockquote>AMD 表示，预计 2021 年将表现强劲，并宣布推出新的笔记本电脑和数据中心芯片。高通公司也报告了强劲的业绩，尽管短缺预计将出现 V 形复苏。与此同时，美光似乎有能力利用需求反弹。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</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\">\nWorldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-25 14:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut</p><p><blockquote>由于大流行和其他因素导致需求激增，芯片股的交易价格创历史新高，但分析师表示，尽管人们记得 2018 年短缺导致供应过剩，但半成品的持续供应短缺可能会推高芯片股</blockquote></p><p> A global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.</p><p><blockquote>全球半导体短缺已将芯片库存推至历史新高，分析师预计，随着 COVID-19 将世界进一步推向数字领域，以及该行业难以满足需求，芯片供应短缺至少将持续到今年年底。</blockquote></p><p> Chips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.</p><p><blockquote>对于汽车制造商和消费者来说，芯片一直很难买到，给一系列行业带来了困难。原因似乎是人们在 COVID-19 大流行期间抢购电子产品导致需求增加、满足这一需求的制造能力有限以及中美贸易战的综合作用。</blockquote></p><p> Maribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.</p><p><blockquote>洛佩兹研究公司（Lopez Research）首席分析师玛丽贝尔-洛佩兹（Maribel Lopez）在接受 MarketWatch 采访时表示，芯片行业正面临着供需问题的 “完美风暴”，这些问题不太可能很快得到解决。</blockquote></p><p> “Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”</p><p><blockquote>“洛佩兹说：”除非我们出现严重的经济崩溃（这显然是有可能的），否则现在发生的一件事是，几乎你买的任何东西都会有芯片。“你买不到愚蠢的产品。”</blockquote></p><p> While high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.</p><p><blockquote>她说，虽然预计2020年对移动设备芯片的高需求，但对基于PC的芯片的需求激增并非如此。洛佩兹指出，将芯片缩小到以前无法安装的地方的趋势使得制造过程变得更加复杂。疫情抓住了这些趋势，并给供应链和应对这些趋势的制造实践带来了额外的波动性。</blockquote></p><p> The full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.</p><p><blockquote>然而，直到通用汽车公司、福特汽车公司和其他汽车制造商最近表示，由于缺乏半导体，他们不得不停止某些车型的生产，芯片短缺的全部影响才波及到更广泛的市场。</blockquote></p><p> Amid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.</p><p><blockquote>由于行业领袖的担忧日益加剧，乔·拜登总统将于周三签署一项行政命令，呼吁审查可能过度依赖中国的美国关键制造业供应链，特别是涉及芯片和高容量电池的供应链。</blockquote></p><p> While the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.</p><p><blockquote>虽然短缺给消费者和企业带来了痛苦，但并没有伤害芯片行业。摩根大通分析师哈兰·苏尔 (Harlan Sur) 在最近的一份报告中表示，过去的财报季是该公司追踪的第一个财报季，所有涵盖的芯片制造商不仅超出了本季度的预期，而且超出了预测预期。</blockquote></p><p> Chip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.</p><p><blockquote>芯片股飙升至历史新高。追踪数十只最大芯片相关股票的 PHLX 半导体指数在过去 12 个月中上涨了 70% 以上，而标普500指数上涨了 21%，以科技股为主的纳斯达克综合指数上涨了 47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2597bfd2bf84e110ca8642c9ba437a06\" tg-width=\"937\" tg-height=\"680\"></p><p><blockquote></blockquote></p><p> Analysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”</p><p><blockquote>不过，分析师认为，随着需求推高价格并提振整个半导体领域的公司，未来可能会有更多涨幅。苏尔说，尽管库存基本面似乎捉襟见肘，“我们认为半导体公司的发货量比目前的需求水平低 10% 到 30%，供应至少需要 3-4 个季度才能赶上需求，然后客户/分销渠道的库存再需要 1-2 个季度才能补充到正常水平”。</blockquote></p><p> Susquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.</p><p><blockquote>萨斯奎哈纳金融分析师克里斯托弗·罗兰最近表示，他预计进入春季，芯片短缺只会变得更加严重。罗兰说，半导体的交货时间（即从交货到交货之间下订单的时间）正在进入一个超过 14 周的 “危险区”，这是自 2018 年上一次芯片繁荣以来最长的一次。</blockquote></p><p> While that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.</p><p><blockquote>罗兰表示，虽然这在短期内对芯片供应商和制造商来说可能是好事，一些公司估计需求将在几个季度内超过供应，但从长远来看，如果管理不善，可能会适得其反。</blockquote></p><p> The chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.</p><p><blockquote>芯片行业仍然记得不到三年前发生的事情，当时它正沉浸在供过于求的过剩中。当时，客户超买了芯片供应，锁定了较低的价格，因为在2018年芯片繁荣时期价格飙升，导致需求急剧下降，导致芯片制造商库存大增，股价暴跌。英伟达公司、美光科技公司和先进微设备公司以及其他行业参与者都受到了产能过剩的不利影响。</blockquote></p><p> Those companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.</p><p><blockquote>这些公司正在尽最大努力避免重蹈 2018 年繁荣结束时的痛苦以及由此导致的短缺。例如，英伟达表示，随着比特币和以太币等加密货币继续飙升至历史新高，它希望通过推出一款专为加密货币挖矿设计的芯片来缓解游戏卡短缺的问题。</blockquote></p><p></p><p> While claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.</p><p><blockquote>虽然 “这次不同 ”的说法应该始终持保留态度，但鉴于世界在过去一年中经历了前所未有的多种因素，这一次很可能会有所不同。Stifel 分析师 Matthew Sheerin 关注科技供应链问题，他更关心持续的供应链中断，而不是过度订购。</blockquote></p><p> “We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.</p><p><blockquote>“Sheering 说：”我们从无数零部件供应商和分销商那里听到了关于订单到账单水平上升和积压订单不断增加的问题，这通常是一个'双重订购'的危险信号。</blockquote></p><p> “We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”</p><p><blockquote>“Stifel 分析师说：”鉴于持续的供应限制以及对 21 年下半年需求改善的持续乐观态度，我们认为不会出现任何重大调整。“我们仍然更关心持续的供应中断和材料成本增加，而不是即将到来的多季度库存调整。”</blockquote></p><p> Chip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.</p><p><blockquote>芯片设备供应商似乎对芯片制造商扩大产能充满信心，因为现有晶圆厂无法很好地满足下一代设计需求。此前，芯片制造设备公司 KLA Corp. 和 Lam Research Corp. 公布了强劲的盈利和前景，并指出芯片制造商需要进一步扩大其制造能力。</blockquote></p><p> Case in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.</p><p><blockquote>一个典型的例子是，第三方制造巨头台积电公司（Taiwan Semiconductor Manufacturing Co.）表示，计划在2021年斥资280亿美元建设其工厂。在遇到自身工艺技术问题后，英特尔公司放弃了将制造芯片外包给台积电等公司的计划。</blockquote></p><p> AMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.</p><p><blockquote>AMD 表示，预计 2021 年将表现强劲，并宣布推出新的笔记本电脑和数据中心芯片。高通公司也报告了强劲的业绩，尽管短缺预计将出现 V 形复苏。与此同时，美光似乎有能力利用需求反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/worldwide-chip-shortage-expected-to-last-into-next-year-and-thats-good-news-for-semiconductor-stocks-11614020156?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":{"KLAC":"科磊","QCOM":"高通","GM":"通用汽车","AMD":"美国超微公司","SOX":"费城半导体指数","NVDA":"英伟达","LRCX":"拉姆研究","MU":"美光科技","INTC":"英特尔","ASML":"阿斯麦","SSNLF":"三星电子","AMAT":"应用材料","TSM":"台积电","F":"福特汽车","AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/worldwide-chip-shortage-expected-to-last-into-next-year-and-thats-good-news-for-semiconductor-stocks-11614020156?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1147687162","content_text":"Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut\nA global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.\nChips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.\nMaribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.\n“Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”\nWhile high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.\nThe full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.\nAmid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.\nWhile the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.\nChip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.\n\nAnalysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”\nSusquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.\nWhile that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.\nThe chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.\nThose companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.\nWhile claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.\n“We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.\n“We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”\nChip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.\nCase in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.\nAMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.","news_type":1,"symbols_score_info":{"INTC":0.9,"AMAT":0.9,"MU":0.9,"TSM":0.9,"AMD":0.9,"ASML":0.9,"F":0.9,"KLAC":0.9,"QCOM":0.9,"SSNLF":0.9,"SOX":0.9,"AAPL":0.9,"GM":0.9,"NVDA":0.9,"LRCX":0.9}},"isVote":1,"tweetType":1,"viewCount":1766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368801005,"gmtCreate":1614304521307,"gmtModify":1703476078538,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575600795480376","authorIdStr":"3575600795480376"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368801005","repostId":"2114311481","repostType":4,"isVote":1,"tweetType":1,"viewCount":2402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368803385,"gmtCreate":1614304481847,"gmtModify":1703476077341,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575600795480376","authorIdStr":"3575600795480376"},"themes":[],"title":"","htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368803385","repostId":"1126511801","repostType":4,"repost":{"id":"1126511801","kind":"news","pubTimestamp":1614242894,"share":"https://www.laohu8.com/m/news/1126511801?lang=zh_CN&edition=full","pubTime":"2021-02-25 16:48","market":"us","language":"en","title":"How to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126511801","media":"Motley Fool","summary":"There are multiple ways to invest like The Oracle of Omaha.Warren Buffett stands as one of history's","content":"<p>There are multiple ways to invest like The Oracle of Omaha.</p><p><blockquote>像奥马哈先知一样，有多种投资方式。</blockquote></p><p>Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.</p><p><blockquote>沃伦·巴菲特是历史上最成功的投资者之一。他作为首席执行官的任期令人难以置信地跑赢了市场<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）以及他在此期间做出的跑赢市场的投资选择为他赢得了奥马哈先知的绰号，不难理解为什么巴菲特的投资建议和股票走势受到如此密切的关注。</blockquote></p><p>With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.</p><p><blockquote>由于目前股市的不确定性和机遇并存，有充分的理由向投资界有史以来最伟大的人之一寻求一些潜在的见解。</blockquote></p><p><b>Make your picks with the long term in mind</b></p><p><blockquote><b>从长远考虑做出选择</b></blockquote></p><p>Warren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.</p><p><blockquote>沃伦·巴菲特有一句名言，他最喜欢持有股票的时期是“永远”。这并不意味着他从不出售股票，但他的长期投资方法是他多年来成功的重要组成部分。</blockquote></p><p>Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the <b>S&P 500</b> index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.</p><p><blockquote>自1965年以来，在巴菲特的指导下，伯克希尔哈撒韦公司的年均增长率为20.3%，绝对碾压了同期大盘的回报率。该集团去年年底的表现优于<b>标普500</b>自巴菲特接任公司领导以来，该指数上涨了约2,700,000%，而他稳定、注重质量的投资方法在其中发挥了重要作用。</blockquote></p><p>Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"</p><p><blockquote>投资者应该专注于具有竞争优势和持续机会的优质企业，使其投资组合能够长期蓬勃发展。巴菲特最常引用的一句智慧总结了这一点：“以公平的价格购买一家出色的公司，远比以精彩的价格购买一家公平的公司要好得多。”</blockquote></p><p>While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.</p><p><blockquote>虽然支持基础业务陷入困境或追逐价格波动的廉价股票有时可以带来巨大的胜利，但这些成功很难持续重复。把握市场时机非常困难。以买入持有的方式投资实力雄厚的公司将使您走上长期卓越业绩的道路。</blockquote></p><p><b>What moves have Buffett and Berkshire been making?</b></p><p><blockquote><b>巴菲特和伯克希尔采取了哪些举措？</b></blockquote></p><p>If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.</p><p><blockquote>如果你想像巴菲特一样扩展投资的目标，而不仅仅是简单地结合他分析、购买和持有股票的方法，那么看看伯克希尔哈撒韦公司最近的举措将告诉你如何做到这一点。伯克希尔被要求每个季度在一份名为13F的文件中披露其持股情况。投资者可以参考这些文件，以了解巴菲特的公司在上一季度买卖了哪些股票。</blockquote></p><p>There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.</p><p><blockquote>投资者可以通过几种不同的方式复制其投资策略。其中之一是跟踪伯克希尔最近最大的收购。下表显示了其最新13F文件中详细介绍的股票购买情况，该文件于2月16日发布，代表了该公司截至2020年12月31日的头寸。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de4600d3ccf2accb2b09a197c2bc7e88\" tg-width=\"888\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.</p><p><blockquote>在最近的收购中，威瑞森、雪佛龙、达信&麦克伦南和E.W。斯克里普斯是伯克希尔投资组合中的全新成员，而该公司则增加了在名单上其他公司的头寸。</blockquote></p><p>Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, including<b>Apple</b>,<b>Bank of America</b>,<b>Coca-Cola</b>,<b>American Express</b>, and<b>Kraft Heinz</b>. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.</p><p><blockquote>投资者还可以复制巴菲特的做法，在伯克希尔最大的整体股票头寸中建仓，包括<b>苹果</b>,<b>美国银行</b>,<b>可口可乐</b>,<b>美国运通</b>，和<b>卡夫亨氏</b>从该公司最近最大的买入和最大的整体持股之间的重叠来看，伯克希尔上个季度最有信心的股票选择似乎是Verizon。它在第四季度大量购买了这家电信巨头的股票，很快使其成为该公司第六大整体持股。</blockquote></p><p><b>One more way to invest like Buffett in 2021</b></p><p><blockquote><b>2021年多一种像巴菲特一样投资的方式</b></blockquote></p><p>The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.</p><p><blockquote>另一个像巴菲特一样投资的明显方式是购买伯克希尔哈撒韦公司的股票。在过去12个月的报告期内，该公司购买自己股票的投资超过了任何其他股票或资产。这强烈表明巴菲特认为他公司的股票被低估了。</blockquote></p><p>Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.</p><p><blockquote>伯克希尔哈撒韦股票为投资者提供了一个简化的途径来建立广泛的持股多元化头寸。除了公开交易的股票和房地产企业外，该公司还完全拥有GEICO、喜诗糖果和金霸王等业务。</blockquote></p><p>While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.</p><p><blockquote>尽管伯克希尔哈撒韦公司有些保守的做法意味着近年来随着高增长科技股取得巨大胜利，它的表现落后于大盘，但这家投资公司拥有金融业最好的管理团队之一。</blockquote></p><p></p><p>The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.</p><p><blockquote>市场可能会在今年剩余时间内出现大幅波动，密切关注历史上最成功、最注重价值的金融家之一不断变化的策略仍然是一个好主意。当伯克希尔本月底发布年度股东信时，投资者将能够更近距离地了解巴菲特的想法。</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>How to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-02-25 16:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There are multiple ways to invest like The Oracle of Omaha.</p><p><blockquote>像奥马哈先知一样，有多种投资方式。</blockquote></p><p>Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.</p><p><blockquote>沃伦·巴菲特是历史上最成功的投资者之一。他作为首席执行官的任期令人难以置信地跑赢了市场<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）以及他在此期间做出的跑赢市场的投资选择为他赢得了奥马哈先知的绰号，不难理解为什么巴菲特的投资建议和股票走势受到如此密切的关注。</blockquote></p><p>With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.</p><p><blockquote>由于目前股市的不确定性和机遇并存，有充分的理由向投资界有史以来最伟大的人之一寻求一些潜在的见解。</blockquote></p><p><b>Make your picks with the long term in mind</b></p><p><blockquote><b>从长远考虑做出选择</b></blockquote></p><p>Warren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.</p><p><blockquote>沃伦·巴菲特有一句名言，他最喜欢持有股票的时期是“永远”。这并不意味着他从不出售股票，但他的长期投资方法是他多年来成功的重要组成部分。</blockquote></p><p>Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the <b>S&P 500</b> index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.</p><p><blockquote>自1965年以来，在巴菲特的指导下，伯克希尔哈撒韦公司的年均增长率为20.3%，绝对碾压了同期大盘的回报率。该集团去年年底的表现优于<b>标普500</b>自巴菲特接任公司领导以来，该指数上涨了约2,700,000%，而他稳定、注重质量的投资方法在其中发挥了重要作用。</blockquote></p><p>Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"</p><p><blockquote>投资者应该专注于具有竞争优势和持续机会的优质企业，使其投资组合能够长期蓬勃发展。巴菲特最常引用的一句智慧总结了这一点：“以公平的价格购买一家出色的公司，远比以精彩的价格购买一家公平的公司要好得多。”</blockquote></p><p>While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.</p><p><blockquote>虽然支持基础业务陷入困境或追逐价格波动的廉价股票有时可以带来巨大的胜利，但这些成功很难持续重复。把握市场时机非常困难。以买入持有的方式投资实力雄厚的公司将使您走上长期卓越业绩的道路。</blockquote></p><p><b>What moves have Buffett and Berkshire been making?</b></p><p><blockquote><b>巴菲特和伯克希尔采取了哪些举措？</b></blockquote></p><p>If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.</p><p><blockquote>如果你想像巴菲特一样扩展投资的目标，而不仅仅是简单地结合他分析、购买和持有股票的方法，那么看看伯克希尔哈撒韦公司最近的举措将告诉你如何做到这一点。伯克希尔被要求每个季度在一份名为13F的文件中披露其持股情况。投资者可以参考这些文件，以了解巴菲特的公司在上一季度买卖了哪些股票。</blockquote></p><p>There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.</p><p><blockquote>投资者可以通过几种不同的方式复制其投资策略。其中之一是跟踪伯克希尔最近最大的收购。下表显示了其最新13F文件中详细介绍的股票购买情况，该文件于2月16日发布，代表了该公司截至2020年12月31日的头寸。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de4600d3ccf2accb2b09a197c2bc7e88\" tg-width=\"888\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.</p><p><blockquote>在最近的收购中，威瑞森、雪佛龙、达信&麦克伦南和E.W。斯克里普斯是伯克希尔投资组合中的全新成员，而该公司则增加了在名单上其他公司的头寸。</blockquote></p><p>Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, including<b>Apple</b>,<b>Bank of America</b>,<b>Coca-Cola</b>,<b>American Express</b>, and<b>Kraft Heinz</b>. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.</p><p><blockquote>投资者还可以复制巴菲特的做法，在伯克希尔最大的整体股票头寸中建仓，包括<b>苹果</b>,<b>美国银行</b>,<b>可口可乐</b>,<b>美国运通</b>，和<b>卡夫亨氏</b>从该公司最近最大的买入和最大的整体持股之间的重叠来看，伯克希尔上个季度最有信心的股票选择似乎是Verizon。它在第四季度大量购买了这家电信巨头的股票，很快使其成为该公司第六大整体持股。</blockquote></p><p><b>One more way to invest like Buffett in 2021</b></p><p><blockquote><b>2021年多一种像巴菲特一样投资的方式</b></blockquote></p><p>The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.</p><p><blockquote>另一个像巴菲特一样投资的明显方式是购买伯克希尔哈撒韦公司的股票。在过去12个月的报告期内，该公司购买自己股票的投资超过了任何其他股票或资产。这强烈表明巴菲特认为他公司的股票被低估了。</blockquote></p><p>Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.</p><p><blockquote>伯克希尔哈撒韦股票为投资者提供了一个简化的途径来建立广泛的持股多元化头寸。除了公开交易的股票和房地产企业外，该公司还完全拥有GEICO、喜诗糖果和金霸王等业务。</blockquote></p><p>While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.</p><p><blockquote>尽管伯克希尔哈撒韦公司有些保守的做法意味着近年来随着高增长科技股取得巨大胜利，它的表现落后于大盘，但这家投资公司拥有金融业最好的管理团队之一。</blockquote></p><p></p><p>The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.</p><p><blockquote>市场可能会在今年剩余时间内出现大幅波动，密切关注历史上最成功、最注重价值的金融家之一不断变化的策略仍然是一个好主意。当伯克希尔本月底发布年度股东信时，投资者将能够更近距离地了解巴菲特的想法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/24/how-to-invest-like-warren-buffett-in-2021/\">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":{"CVX":"雪佛龙","SSP":"E.W. Scripps Co Cl A",".SPX":"S&P 500 Index","BRK.B":"伯克希尔B","TMUS":"T-Mobile US Inc","BRK.A":"伯克希尔","RH":"RH",".DJI":"道琼斯","VZ":"Verizon Comms","MRK":"默沙东","KR":"克罗格","ABBV":"艾伯维公司",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/02/24/how-to-invest-like-warren-buffett-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126511801","content_text":"There are multiple ways to invest like The Oracle of Omaha.Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.Make your picks with the long term in mindWarren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the S&P 500 index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.What moves have Buffett and Berkshire been making?If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, includingApple,Bank of America,Coca-Cola,American Express, andKraft Heinz. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.One more way to invest like Buffett in 2021The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.","news_type":1,"symbols_score_info":{".IXIC":0.9,"CVX":0.9,"SSP":0.9,".DJI":0.9,"KR":0.9,"ABBV":0.9,".SPX":0.9,"BRK.A":0.9,"MMC":0.9,"BRK.B":0.9,"TMUS":0.9,"RH":0.9,"VZ":0.9,"MRK":0.9}},"isVote":1,"tweetType":1,"viewCount":2076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380271745,"gmtCreate":1612544485687,"gmtModify":1703763553991,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575600795480376","authorIdStr":"3575600795480376"},"themes":[],"title":"","htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380271745","repostId":"1132260998","repostType":4,"isVote":1,"tweetType":1,"viewCount":2497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":368806499,"gmtCreate":1614304700511,"gmtModify":1703476082465,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575600795480376","idStr":"3575600795480376"},"themes":[],"title":"","htmlText":"😎 ","listText":"😎 ","text":"😎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368806499","repostId":"1147687162","repostType":4,"repost":{"id":"1147687162","kind":"news","pubTimestamp":1614234296,"share":"https://www.laohu8.com/m/news/1147687162?lang=zh_CN&edition=full","pubTime":"2021-02-25 14:24","market":"us","language":"en","title":"Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147687162","media":"MarketWatch","summary":"Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but ana","content":"<p>Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut</p><p><blockquote>由于大流行和其他因素导致需求激增，芯片股的交易价格创历史新高，但分析师表示，尽管人们记得 2018 年短缺导致供应过剩，但半成品的持续供应短缺可能会推高芯片股</blockquote></p><p> A global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.</p><p><blockquote>全球半导体短缺已将芯片库存推至历史新高，分析师预计，随着 COVID-19 将世界进一步推向数字领域，以及该行业难以满足需求，芯片供应短缺至少将持续到今年年底。</blockquote></p><p> Chips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.</p><p><blockquote>对于汽车制造商和消费者来说，芯片一直很难买到，给一系列行业带来了困难。原因似乎是人们在 COVID-19 大流行期间抢购电子产品导致需求增加、满足这一需求的制造能力有限以及中美贸易战的综合作用。</blockquote></p><p> Maribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.</p><p><blockquote>洛佩兹研究公司（Lopez Research）首席分析师玛丽贝尔-洛佩兹（Maribel Lopez）在接受 MarketWatch 采访时表示，芯片行业正面临着供需问题的 “完美风暴”，这些问题不太可能很快得到解决。</blockquote></p><p> “Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”</p><p><blockquote>“洛佩兹说：”除非我们出现严重的经济崩溃（这显然是有可能的），否则现在发生的一件事是，几乎你买的任何东西都会有芯片。“你买不到愚蠢的产品。”</blockquote></p><p> While high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.</p><p><blockquote>她说，虽然预计2020年对移动设备芯片的高需求，但对基于PC的芯片的需求激增并非如此。洛佩兹指出，将芯片缩小到以前无法安装的地方的趋势使得制造过程变得更加复杂。疫情抓住了这些趋势，并给供应链和应对这些趋势的制造实践带来了额外的波动性。</blockquote></p><p> The full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.</p><p><blockquote>然而，直到通用汽车公司、福特汽车公司和其他汽车制造商最近表示，由于缺乏半导体，他们不得不停止某些车型的生产，芯片短缺的全部影响才波及到更广泛的市场。</blockquote></p><p> Amid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.</p><p><blockquote>由于行业领袖的担忧日益加剧，乔·拜登总统将于周三签署一项行政命令，呼吁审查可能过度依赖中国的美国关键制造业供应链，特别是涉及芯片和高容量电池的供应链。</blockquote></p><p> While the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.</p><p><blockquote>虽然短缺给消费者和企业带来了痛苦，但并没有伤害芯片行业。摩根大通分析师哈兰·苏尔 (Harlan Sur) 在最近的一份报告中表示，过去的财报季是该公司追踪的第一个财报季，所有涵盖的芯片制造商不仅超出了本季度的预期，而且超出了预测预期。</blockquote></p><p> Chip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.</p><p><blockquote>芯片股飙升至历史新高。追踪数十只最大芯片相关股票的 PHLX 半导体指数在过去 12 个月中上涨了 70% 以上，而标普500指数上涨了 21%，以科技股为主的纳斯达克综合指数上涨了 47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2597bfd2bf84e110ca8642c9ba437a06\" tg-width=\"937\" tg-height=\"680\"></p><p><blockquote></blockquote></p><p> Analysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”</p><p><blockquote>不过，分析师认为，随着需求推高价格并提振整个半导体领域的公司，未来可能会有更多涨幅。苏尔说，尽管库存基本面似乎捉襟见肘，“我们认为半导体公司的发货量比目前的需求水平低 10% 到 30%，供应至少需要 3-4 个季度才能赶上需求，然后客户/分销渠道的库存再需要 1-2 个季度才能补充到正常水平”。</blockquote></p><p> Susquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.</p><p><blockquote>萨斯奎哈纳金融分析师克里斯托弗·罗兰最近表示，他预计进入春季，芯片短缺只会变得更加严重。罗兰说，半导体的交货时间（即从交货到交货之间下订单的时间）正在进入一个超过 14 周的 “危险区”，这是自 2018 年上一次芯片繁荣以来最长的一次。</blockquote></p><p> While that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.</p><p><blockquote>罗兰表示，虽然这在短期内对芯片供应商和制造商来说可能是好事，一些公司估计需求将在几个季度内超过供应，但从长远来看，如果管理不善，可能会适得其反。</blockquote></p><p> The chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.</p><p><blockquote>芯片行业仍然记得不到三年前发生的事情，当时它正沉浸在供过于求的过剩中。当时，客户超买了芯片供应，锁定了较低的价格，因为在2018年芯片繁荣时期价格飙升，导致需求急剧下降，导致芯片制造商库存大增，股价暴跌。英伟达公司、美光科技公司和先进微设备公司以及其他行业参与者都受到了产能过剩的不利影响。</blockquote></p><p> Those companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.</p><p><blockquote>这些公司正在尽最大努力避免重蹈 2018 年繁荣结束时的痛苦以及由此导致的短缺。例如，英伟达表示，随着比特币和以太币等加密货币继续飙升至历史新高，它希望通过推出一款专为加密货币挖矿设计的芯片来缓解游戏卡短缺的问题。</blockquote></p><p></p><p> While claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.</p><p><blockquote>虽然 “这次不同 ”的说法应该始终持保留态度，但鉴于世界在过去一年中经历了前所未有的多种因素，这一次很可能会有所不同。Stifel 分析师 Matthew Sheerin 关注科技供应链问题，他更关心持续的供应链中断，而不是过度订购。</blockquote></p><p> “We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.</p><p><blockquote>“Sheering 说：”我们从无数零部件供应商和分销商那里听到了关于订单到账单水平上升和积压订单不断增加的问题，这通常是一个'双重订购'的危险信号。</blockquote></p><p> “We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”</p><p><blockquote>“Stifel 分析师说：”鉴于持续的供应限制以及对 21 年下半年需求改善的持续乐观态度，我们认为不会出现任何重大调整。“我们仍然更关心持续的供应中断和材料成本增加，而不是即将到来的多季度库存调整。”</blockquote></p><p> Chip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.</p><p><blockquote>芯片设备供应商似乎对芯片制造商扩大产能充满信心，因为现有晶圆厂无法很好地满足下一代设计需求。此前，芯片制造设备公司 KLA Corp. 和 Lam Research Corp. 公布了强劲的盈利和前景，并指出芯片制造商需要进一步扩大其制造能力。</blockquote></p><p> Case in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.</p><p><blockquote>一个典型的例子是，第三方制造巨头台积电公司（Taiwan Semiconductor Manufacturing Co.）表示，计划在2021年斥资280亿美元建设其工厂。在遇到自身工艺技术问题后，英特尔公司放弃了将制造芯片外包给台积电等公司的计划。</blockquote></p><p> AMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.</p><p><blockquote>AMD 表示，预计 2021 年将表现强劲，并宣布推出新的笔记本电脑和数据中心芯片。高通公司也报告了强劲的业绩，尽管短缺预计将出现 V 形复苏。与此同时，美光似乎有能力利用需求反弹。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</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\">\nWorldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks<blockquote>全球芯片短缺预计将持续到明年，这对半导体股来说是个好消息</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-25 14:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut</p><p><blockquote>由于大流行和其他因素导致需求激增，芯片股的交易价格创历史新高，但分析师表示，尽管人们记得 2018 年短缺导致供应过剩，但半成品的持续供应短缺可能会推高芯片股</blockquote></p><p> A global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.</p><p><blockquote>全球半导体短缺已将芯片库存推至历史新高，分析师预计，随着 COVID-19 将世界进一步推向数字领域，以及该行业难以满足需求，芯片供应短缺至少将持续到今年年底。</blockquote></p><p> Chips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.</p><p><blockquote>对于汽车制造商和消费者来说，芯片一直很难买到，给一系列行业带来了困难。原因似乎是人们在 COVID-19 大流行期间抢购电子产品导致需求增加、满足这一需求的制造能力有限以及中美贸易战的综合作用。</blockquote></p><p> Maribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.</p><p><blockquote>洛佩兹研究公司（Lopez Research）首席分析师玛丽贝尔-洛佩兹（Maribel Lopez）在接受 MarketWatch 采访时表示，芯片行业正面临着供需问题的 “完美风暴”，这些问题不太可能很快得到解决。</blockquote></p><p> “Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”</p><p><blockquote>“洛佩兹说：”除非我们出现严重的经济崩溃（这显然是有可能的），否则现在发生的一件事是，几乎你买的任何东西都会有芯片。“你买不到愚蠢的产品。”</blockquote></p><p> While high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.</p><p><blockquote>她说，虽然预计2020年对移动设备芯片的高需求，但对基于PC的芯片的需求激增并非如此。洛佩兹指出，将芯片缩小到以前无法安装的地方的趋势使得制造过程变得更加复杂。疫情抓住了这些趋势，并给供应链和应对这些趋势的制造实践带来了额外的波动性。</blockquote></p><p> The full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.</p><p><blockquote>然而，直到通用汽车公司、福特汽车公司和其他汽车制造商最近表示，由于缺乏半导体，他们不得不停止某些车型的生产，芯片短缺的全部影响才波及到更广泛的市场。</blockquote></p><p> Amid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.</p><p><blockquote>由于行业领袖的担忧日益加剧，乔·拜登总统将于周三签署一项行政命令，呼吁审查可能过度依赖中国的美国关键制造业供应链，特别是涉及芯片和高容量电池的供应链。</blockquote></p><p> While the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.</p><p><blockquote>虽然短缺给消费者和企业带来了痛苦，但并没有伤害芯片行业。摩根大通分析师哈兰·苏尔 (Harlan Sur) 在最近的一份报告中表示，过去的财报季是该公司追踪的第一个财报季，所有涵盖的芯片制造商不仅超出了本季度的预期，而且超出了预测预期。</blockquote></p><p> Chip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.</p><p><blockquote>芯片股飙升至历史新高。追踪数十只最大芯片相关股票的 PHLX 半导体指数在过去 12 个月中上涨了 70% 以上，而标普500指数上涨了 21%，以科技股为主的纳斯达克综合指数上涨了 47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2597bfd2bf84e110ca8642c9ba437a06\" tg-width=\"937\" tg-height=\"680\"></p><p><blockquote></blockquote></p><p> Analysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”</p><p><blockquote>不过，分析师认为，随着需求推高价格并提振整个半导体领域的公司，未来可能会有更多涨幅。苏尔说，尽管库存基本面似乎捉襟见肘，“我们认为半导体公司的发货量比目前的需求水平低 10% 到 30%，供应至少需要 3-4 个季度才能赶上需求，然后客户/分销渠道的库存再需要 1-2 个季度才能补充到正常水平”。</blockquote></p><p> Susquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.</p><p><blockquote>萨斯奎哈纳金融分析师克里斯托弗·罗兰最近表示，他预计进入春季，芯片短缺只会变得更加严重。罗兰说，半导体的交货时间（即从交货到交货之间下订单的时间）正在进入一个超过 14 周的 “危险区”，这是自 2018 年上一次芯片繁荣以来最长的一次。</blockquote></p><p> While that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.</p><p><blockquote>罗兰表示，虽然这在短期内对芯片供应商和制造商来说可能是好事，一些公司估计需求将在几个季度内超过供应，但从长远来看，如果管理不善，可能会适得其反。</blockquote></p><p> The chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.</p><p><blockquote>芯片行业仍然记得不到三年前发生的事情，当时它正沉浸在供过于求的过剩中。当时，客户超买了芯片供应，锁定了较低的价格，因为在2018年芯片繁荣时期价格飙升，导致需求急剧下降，导致芯片制造商库存大增，股价暴跌。英伟达公司、美光科技公司和先进微设备公司以及其他行业参与者都受到了产能过剩的不利影响。</blockquote></p><p> Those companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.</p><p><blockquote>这些公司正在尽最大努力避免重蹈 2018 年繁荣结束时的痛苦以及由此导致的短缺。例如，英伟达表示，随着比特币和以太币等加密货币继续飙升至历史新高，它希望通过推出一款专为加密货币挖矿设计的芯片来缓解游戏卡短缺的问题。</blockquote></p><p></p><p> While claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.</p><p><blockquote>虽然 “这次不同 ”的说法应该始终持保留态度，但鉴于世界在过去一年中经历了前所未有的多种因素，这一次很可能会有所不同。Stifel 分析师 Matthew Sheerin 关注科技供应链问题，他更关心持续的供应链中断，而不是过度订购。</blockquote></p><p> “We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.</p><p><blockquote>“Sheering 说：”我们从无数零部件供应商和分销商那里听到了关于订单到账单水平上升和积压订单不断增加的问题，这通常是一个'双重订购'的危险信号。</blockquote></p><p> “We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”</p><p><blockquote>“Stifel 分析师说：”鉴于持续的供应限制以及对 21 年下半年需求改善的持续乐观态度，我们认为不会出现任何重大调整。“我们仍然更关心持续的供应中断和材料成本增加，而不是即将到来的多季度库存调整。”</blockquote></p><p> Chip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.</p><p><blockquote>芯片设备供应商似乎对芯片制造商扩大产能充满信心，因为现有晶圆厂无法很好地满足下一代设计需求。此前，芯片制造设备公司 KLA Corp. 和 Lam Research Corp. 公布了强劲的盈利和前景，并指出芯片制造商需要进一步扩大其制造能力。</blockquote></p><p> Case in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.</p><p><blockquote>一个典型的例子是，第三方制造巨头台积电公司（Taiwan Semiconductor Manufacturing Co.）表示，计划在2021年斥资280亿美元建设其工厂。在遇到自身工艺技术问题后，英特尔公司放弃了将制造芯片外包给台积电等公司的计划。</blockquote></p><p> AMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.</p><p><blockquote>AMD 表示，预计 2021 年将表现强劲，并宣布推出新的笔记本电脑和数据中心芯片。高通公司也报告了强劲的业绩，尽管短缺预计将出现 V 形复苏。与此同时，美光似乎有能力利用需求反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/worldwide-chip-shortage-expected-to-last-into-next-year-and-thats-good-news-for-semiconductor-stocks-11614020156?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":{"KLAC":"科磊","QCOM":"高通","GM":"通用汽车","AMD":"美国超微公司","SOX":"费城半导体指数","NVDA":"英伟达","LRCX":"拉姆研究","MU":"美光科技","INTC":"英特尔","ASML":"阿斯麦","SSNLF":"三星电子","AMAT":"应用材料","TSM":"台积电","F":"福特汽车","AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/worldwide-chip-shortage-expected-to-last-into-next-year-and-thats-good-news-for-semiconductor-stocks-11614020156?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1147687162","content_text":"Chip stocks are trading at record highs amid demand spike due to pandemic and other factors, but analysts say continuing short supply of semis are likely to send them higher despite memories of 2018 shortage that led to oversupply glut\nA global shortage of semiconductors has pushed chip stocks to record highs, and analysts expect that chips will continue to be in short supply at least through the end of the year as COVID-19 pushes the world further into the digital realm and the industry struggles to keep up with demand.\nChips have been hard to come by for auto makers and consumers, causing difficulties in a range of industries. The cause seems to be a combination of increased demand as people scooped up electronics during the COVID-19 pandemic, limited manufacturing capacity to meet that demand, and the U.S.-China trade war.\nMaribel Lopez, principal analyst at Lopez Research, told MarketWatch in an interview the chip industry is facing “a perfect storm” of demand and supply issues that is unlikely to resolve soon.\n“Unless we have a major economic meltdown, which is obviously possible, one of the things that’s happening right now is that almost anything you buy is going to have a chip in it,” Lopez said. “You can’t buy a dumb product.”\nWhile high demand for mobile-device chips in 2020 was expected, the surge in demand for PC-based chips was not, she said. The trend of shrinking chips down to where they can fit in places they haven’t been able to fit before has made the manufacturing process more complex, Lopez noted. The pandemic took those trends and placed an added level of volatility on the supply chains and manufacturing practices dealing with them.\nThe full impact of the chip shortage, however, didn’t hit home to the wider market until General Motors Co. ,Ford Motor Co. and other auto makers said recently they’ve had to shut down production on certain models because of a lack of semiconductors.\nAmid growing concerns from industry leaders,President Joe Biden is set to sign an executive order Wednesday calling for the review of critical U.S. manufacturing supply chains that may rely too much on China, particularly those involving chips and high-capacity batteries.\nWhile the shortage has caused pain for consumers and companies, it has not hurt the chip industry. In a recent note, J.P. Morgan analyst Harlan Sur said this past earnings season was the first the firm has tracked where all covered chip makers not only beat estimates for the quarter but topped expectations for forecasts.\nChip stocks have soared to all-time highs. The PHLX Semiconductor Index,which tracks dozens of the largest chip-related stocks, has gained more than 70% in the past 12 months, compared with a 21% gain on the S&P 500 index,and a 47% rise on the tech-heavy Nasdaq Composite Index.\n\nAnalysts believe there could be more gains ahead, though, as demand sends prices higher and boosts companies throughout the semiconductor space. Even as stock fundamentals appear stretched thin, Sur said “we believe semi companies are shipping 10% to 30% BELOW current demand levels and it will take at least 3-4 quarters for supply to catch up with demand and then another 1-2 quarters for inventories at customers/distribution channels to be replenished back to normal levels.”\nSusquehanna Financial analyst Christopher Rolland recently said he expects chip shortages will only get worse heading into the spring. Lead times, or the amount of time an order is placed between it delivery, for semiconductors are entering a “danger zone” of above 14 weeks, the longest they’ve been since the last chip boom of 2018, Rolland said.\nWhile that may be good in the short term for chip suppliers and makers, with some companies estimating demand outstripping supply for several quarters, in the long run it could backfire if not managed well, Rolland said.\nThe chip industry still remembers what happened less than three years ago when it was drowning in a glut of oversupply. Back then, customersoverbought supplies of chipsto lock in lower prices because prices had soared in the 2018 chip boom, causing a steep drop in demand, leaving chip makers with large inventories and plummeting stock prices. Nvidia Corp.,Micron Technology Inc. and Advanced Micro Devices Inc.,along with other industry players were all adversely affected by the glut.\nThose companies are doing what they can to avoid a repeat of the pain that came at the end of the 2018 boom and resulting shortage.Nvidia, for example,said it hoped to ease shortages of gaming cards by launching a chip designed for cryptocurrency mining as cryptocurrencies like bitcoin and ethereum continue soaring to record highs.\nWhile claims of “this time it’s different” should always be taken with a grain of salt, it may very well be different this time around given the unprecedented mix of factors the world has gone through over the past year. Stifel analyst Matthew Sheerin, who follows tech supply chain issues, is more concerned with continued supply-chain disruptions than he is over-ordering.\n“We’ve heard from countless component suppliers and distributors about elevated book-to-bill levels and growing backlog, typically a ‘double-ordering’ red flag,” Sheering said.\n“We don’t see any major correction on the horizon, given ongoing supply constraints as well as continued optimism about improving demand in 2H21,” the Stifel analyst said. “We remain more concerned with continued supply disruptions, and increased materials costs, than we do an imminent multi-quarter inventory correction.”\nChip-equipment suppliers seem confident that chip manufacturers will build out their capacity because of the shortage and next-generation designs that won’t be well served by existing fabs.Applied Materials Inc. said last week it expects to supply a decade-plus investment cycle for chip makers. That followed strong earnings and outlooks from chip-making equipment companiesKLA Corp. and Lam Research Corp. noting that chip makers needed to build out their manufacturing capacities even further.\nCase in point,Taiwan Semiconductor Manufacturing Co.,the third-party manufacturing giant that fabricates silicon for many chip makers like Apple Inc.AAPL,and others, said it plans to spend $28 billion to build out its facilities in 2021.Intel Corp. has shied away from a plan to outsource manufacturing chips to companies like TSMC, after encountering problems with its own process technology.\nAMD said it expects a strong 2021 earlier this year, and announcednew laptop and data-center chips.Qualcomm Inc. also reported strong results despite shortages forecast a V-shaped recovery. Meanwhile, Micron appears positioned to take advantage in a rebound in demand.","news_type":1,"symbols_score_info":{"INTC":0.9,"AMAT":0.9,"MU":0.9,"TSM":0.9,"AMD":0.9,"ASML":0.9,"F":0.9,"KLAC":0.9,"QCOM":0.9,"SSNLF":0.9,"SOX":0.9,"AAPL":0.9,"GM":0.9,"NVDA":0.9,"LRCX":0.9}},"isVote":1,"tweetType":1,"viewCount":1766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368801005,"gmtCreate":1614304521307,"gmtModify":1703476078538,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575600795480376","idStr":"3575600795480376"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368801005","repostId":"2114311481","repostType":4,"isVote":1,"tweetType":1,"viewCount":2402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368803385,"gmtCreate":1614304481847,"gmtModify":1703476077341,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575600795480376","idStr":"3575600795480376"},"themes":[],"title":"","htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368803385","repostId":"1126511801","repostType":4,"repost":{"id":"1126511801","kind":"news","pubTimestamp":1614242894,"share":"https://www.laohu8.com/m/news/1126511801?lang=zh_CN&edition=full","pubTime":"2021-02-25 16:48","market":"us","language":"en","title":"How to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126511801","media":"Motley Fool","summary":"There are multiple ways to invest like The Oracle of Omaha.Warren Buffett stands as one of history's","content":"<p>There are multiple ways to invest like The Oracle of Omaha.</p><p><blockquote>像奥马哈先知一样，有多种投资方式。</blockquote></p><p>Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.</p><p><blockquote>沃伦·巴菲特是历史上最成功的投资者之一。他作为首席执行官的任期令人难以置信地跑赢了市场<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）以及他在此期间做出的跑赢市场的投资选择为他赢得了奥马哈先知的绰号，不难理解为什么巴菲特的投资建议和股票走势受到如此密切的关注。</blockquote></p><p>With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.</p><p><blockquote>由于目前股市的不确定性和机遇并存，有充分的理由向投资界有史以来最伟大的人之一寻求一些潜在的见解。</blockquote></p><p><b>Make your picks with the long term in mind</b></p><p><blockquote><b>从长远考虑做出选择</b></blockquote></p><p>Warren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.</p><p><blockquote>沃伦·巴菲特有一句名言，他最喜欢持有股票的时期是“永远”。这并不意味着他从不出售股票，但他的长期投资方法是他多年来成功的重要组成部分。</blockquote></p><p>Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the <b>S&P 500</b> index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.</p><p><blockquote>自1965年以来，在巴菲特的指导下，伯克希尔哈撒韦公司的年均增长率为20.3%，绝对碾压了同期大盘的回报率。该集团去年年底的表现优于<b>标普500</b>自巴菲特接任公司领导以来，该指数上涨了约2,700,000%，而他稳定、注重质量的投资方法在其中发挥了重要作用。</blockquote></p><p>Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"</p><p><blockquote>投资者应该专注于具有竞争优势和持续机会的优质企业，使其投资组合能够长期蓬勃发展。巴菲特最常引用的一句智慧总结了这一点：“以公平的价格购买一家出色的公司，远比以精彩的价格购买一家公平的公司要好得多。”</blockquote></p><p>While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.</p><p><blockquote>虽然支持基础业务陷入困境或追逐价格波动的廉价股票有时可以带来巨大的胜利，但这些成功很难持续重复。把握市场时机非常困难。以买入持有的方式投资实力雄厚的公司将使您走上长期卓越业绩的道路。</blockquote></p><p><b>What moves have Buffett and Berkshire been making?</b></p><p><blockquote><b>巴菲特和伯克希尔采取了哪些举措？</b></blockquote></p><p>If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.</p><p><blockquote>如果你想像巴菲特一样扩展投资的目标，而不仅仅是简单地结合他分析、购买和持有股票的方法，那么看看伯克希尔哈撒韦公司最近的举措将告诉你如何做到这一点。伯克希尔被要求每个季度在一份名为13F的文件中披露其持股情况。投资者可以参考这些文件，以了解巴菲特的公司在上一季度买卖了哪些股票。</blockquote></p><p>There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.</p><p><blockquote>投资者可以通过几种不同的方式复制其投资策略。其中之一是跟踪伯克希尔最近最大的收购。下表显示了其最新13F文件中详细介绍的股票购买情况，该文件于2月16日发布，代表了该公司截至2020年12月31日的头寸。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de4600d3ccf2accb2b09a197c2bc7e88\" tg-width=\"888\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.</p><p><blockquote>在最近的收购中，威瑞森、雪佛龙、达信&麦克伦南和E.W。斯克里普斯是伯克希尔投资组合中的全新成员，而该公司则增加了在名单上其他公司的头寸。</blockquote></p><p>Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, including<b>Apple</b>,<b>Bank of America</b>,<b>Coca-Cola</b>,<b>American Express</b>, and<b>Kraft Heinz</b>. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.</p><p><blockquote>投资者还可以复制巴菲特的做法，在伯克希尔最大的整体股票头寸中建仓，包括<b>苹果</b>,<b>美国银行</b>,<b>可口可乐</b>,<b>美国运通</b>，和<b>卡夫亨氏</b>从该公司最近最大的买入和最大的整体持股之间的重叠来看，伯克希尔上个季度最有信心的股票选择似乎是Verizon。它在第四季度大量购买了这家电信巨头的股票，很快使其成为该公司第六大整体持股。</blockquote></p><p><b>One more way to invest like Buffett in 2021</b></p><p><blockquote><b>2021年多一种像巴菲特一样投资的方式</b></blockquote></p><p>The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.</p><p><blockquote>另一个像巴菲特一样投资的明显方式是购买伯克希尔哈撒韦公司的股票。在过去12个月的报告期内，该公司购买自己股票的投资超过了任何其他股票或资产。这强烈表明巴菲特认为他公司的股票被低估了。</blockquote></p><p>Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.</p><p><blockquote>伯克希尔哈撒韦股票为投资者提供了一个简化的途径来建立广泛的持股多元化头寸。除了公开交易的股票和房地产企业外，该公司还完全拥有GEICO、喜诗糖果和金霸王等业务。</blockquote></p><p>While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.</p><p><blockquote>尽管伯克希尔哈撒韦公司有些保守的做法意味着近年来随着高增长科技股取得巨大胜利，它的表现落后于大盘，但这家投资公司拥有金融业最好的管理团队之一。</blockquote></p><p></p><p>The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.</p><p><blockquote>市场可能会在今年剩余时间内出现大幅波动，密切关注历史上最成功、最注重价值的金融家之一不断变化的策略仍然是一个好主意。当伯克希尔本月底发布年度股东信时，投资者将能够更近距离地了解巴菲特的想法。</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>How to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow to Invest Like Warren Buffett in 2021<blockquote>2021年如何像沃伦·巴菲特一样投资</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-02-25 16:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There are multiple ways to invest like The Oracle of Omaha.</p><p><blockquote>像奥马哈先知一样，有多种投资方式。</blockquote></p><p>Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of <b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.</p><p><blockquote>沃伦·巴菲特是历史上最成功的投资者之一。他作为首席执行官的任期令人难以置信地跑赢了市场<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）以及他在此期间做出的跑赢市场的投资选择为他赢得了奥马哈先知的绰号，不难理解为什么巴菲特的投资建议和股票走势受到如此密切的关注。</blockquote></p><p>With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.</p><p><blockquote>由于目前股市的不确定性和机遇并存，有充分的理由向投资界有史以来最伟大的人之一寻求一些潜在的见解。</blockquote></p><p><b>Make your picks with the long term in mind</b></p><p><blockquote><b>从长远考虑做出选择</b></blockquote></p><p>Warren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.</p><p><blockquote>沃伦·巴菲特有一句名言，他最喜欢持有股票的时期是“永远”。这并不意味着他从不出售股票，但他的长期投资方法是他多年来成功的重要组成部分。</blockquote></p><p>Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the <b>S&P 500</b> index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.</p><p><blockquote>自1965年以来，在巴菲特的指导下，伯克希尔哈撒韦公司的年均增长率为20.3%，绝对碾压了同期大盘的回报率。该集团去年年底的表现优于<b>标普500</b>自巴菲特接任公司领导以来，该指数上涨了约2,700,000%，而他稳定、注重质量的投资方法在其中发挥了重要作用。</blockquote></p><p>Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"</p><p><blockquote>投资者应该专注于具有竞争优势和持续机会的优质企业，使其投资组合能够长期蓬勃发展。巴菲特最常引用的一句智慧总结了这一点：“以公平的价格购买一家出色的公司，远比以精彩的价格购买一家公平的公司要好得多。”</blockquote></p><p>While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.</p><p><blockquote>虽然支持基础业务陷入困境或追逐价格波动的廉价股票有时可以带来巨大的胜利，但这些成功很难持续重复。把握市场时机非常困难。以买入持有的方式投资实力雄厚的公司将使您走上长期卓越业绩的道路。</blockquote></p><p><b>What moves have Buffett and Berkshire been making?</b></p><p><blockquote><b>巴菲特和伯克希尔采取了哪些举措？</b></blockquote></p><p>If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.</p><p><blockquote>如果你想像巴菲特一样扩展投资的目标，而不仅仅是简单地结合他分析、购买和持有股票的方法，那么看看伯克希尔哈撒韦公司最近的举措将告诉你如何做到这一点。伯克希尔被要求每个季度在一份名为13F的文件中披露其持股情况。投资者可以参考这些文件，以了解巴菲特的公司在上一季度买卖了哪些股票。</blockquote></p><p>There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.</p><p><blockquote>投资者可以通过几种不同的方式复制其投资策略。其中之一是跟踪伯克希尔最近最大的收购。下表显示了其最新13F文件中详细介绍的股票购买情况，该文件于2月16日发布，代表了该公司截至2020年12月31日的头寸。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de4600d3ccf2accb2b09a197c2bc7e88\" tg-width=\"888\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.</p><p><blockquote>在最近的收购中，威瑞森、雪佛龙、达信&麦克伦南和E.W。斯克里普斯是伯克希尔投资组合中的全新成员，而该公司则增加了在名单上其他公司的头寸。</blockquote></p><p>Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, including<b>Apple</b>,<b>Bank of America</b>,<b>Coca-Cola</b>,<b>American Express</b>, and<b>Kraft Heinz</b>. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.</p><p><blockquote>投资者还可以复制巴菲特的做法，在伯克希尔最大的整体股票头寸中建仓，包括<b>苹果</b>,<b>美国银行</b>,<b>可口可乐</b>,<b>美国运通</b>，和<b>卡夫亨氏</b>从该公司最近最大的买入和最大的整体持股之间的重叠来看，伯克希尔上个季度最有信心的股票选择似乎是Verizon。它在第四季度大量购买了这家电信巨头的股票，很快使其成为该公司第六大整体持股。</blockquote></p><p><b>One more way to invest like Buffett in 2021</b></p><p><blockquote><b>2021年多一种像巴菲特一样投资的方式</b></blockquote></p><p>The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.</p><p><blockquote>另一个像巴菲特一样投资的明显方式是购买伯克希尔哈撒韦公司的股票。在过去12个月的报告期内，该公司购买自己股票的投资超过了任何其他股票或资产。这强烈表明巴菲特认为他公司的股票被低估了。</blockquote></p><p>Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.</p><p><blockquote>伯克希尔哈撒韦股票为投资者提供了一个简化的途径来建立广泛的持股多元化头寸。除了公开交易的股票和房地产企业外，该公司还完全拥有GEICO、喜诗糖果和金霸王等业务。</blockquote></p><p>While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.</p><p><blockquote>尽管伯克希尔哈撒韦公司有些保守的做法意味着近年来随着高增长科技股取得巨大胜利，它的表现落后于大盘，但这家投资公司拥有金融业最好的管理团队之一。</blockquote></p><p></p><p>The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.</p><p><blockquote>市场可能会在今年剩余时间内出现大幅波动，密切关注历史上最成功、最注重价值的金融家之一不断变化的策略仍然是一个好主意。当伯克希尔本月底发布年度股东信时，投资者将能够更近距离地了解巴菲特的想法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/24/how-to-invest-like-warren-buffett-in-2021/\">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":{"CVX":"雪佛龙","SSP":"E.W. Scripps Co Cl A",".SPX":"S&P 500 Index","BRK.B":"伯克希尔B","TMUS":"T-Mobile US Inc","BRK.A":"伯克希尔","RH":"RH",".DJI":"道琼斯","VZ":"Verizon Comms","MRK":"默沙东","KR":"克罗格","ABBV":"艾伯维公司",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/02/24/how-to-invest-like-warren-buffett-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126511801","content_text":"There are multiple ways to invest like The Oracle of Omaha.Warren Buffett stands as one of history's most successful investors. His incredible market-beating tenure as CEO of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) and the market-beating investment choices he has made during that time have earned him the moniker The Oracle of Omaha, and it's not hard to see why Buffett's investing advice and stock moves are so closely followed.With a combination of uncertainty and opportunity currently on the stock market horizon, there are good reasons to turn to one of the investing world's all-time greats for some potential insight.Make your picks with the long term in mindWarren Buffett has famously said that his favorite period for owning a stock is \"forever.\" That doesn't mean that he never sells shares, but his long-term approach to investing has been a huge part of his success through the years.Under Buffett's guidance since 1965, Berkshire has notched average annual growth of 20.3%, absolutely crushing the return for the broader market over the same time period. The conglomerate ended last year having outperformed the S&P 500 index by roughly 2,700,000% since Buffett assumed leadership of the company, and his steady, quality-focused approach to investing played a big role in that.Investors should be concentrating on high-quality businesses with competitive advantages and ongoing opportunities that position their portfolio to thrive over the long term. This bit of wisdom is summed up by one of Buffett's most frequently quoted bits of wisdom: \"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.\"While backing cheap stocks that have struggling underlying businesses or chasing volatile pricing swings can sometimes result in big wins, these successes are difficult to repeat consistently. Timing the market is incredibly hard. Investing in strong companies with a buy-to-hold approach will put you on the path to superior performance over the long term.What moves have Buffett and Berkshire been making?If you want to extend the goal of investing like Buffett beyond simply incorporating his approach to analyzing, buying, and holding stocks, then looking at Berkshire Hathaway's recent moves will show you how to do that. Berkshire is required to file a disclosure of its holdings each quarter in a document known as a 13F. Investors can reference these documents in order to see which stocks Buffett's company has bought and sold across the previous quarter.There are a couple of different ways that investors can go about replicating its investment strategies. One of these is to follow Berkshire's biggest recent buys. The table below shows thestock purchasesdetailed in its most recent 13F filing, which was published on Feb. 16 and represents the company's positions as of Dec. 31, 2020.Of the recent purchases, Verizon, Chevron, Marsh & McLennan, and E.W. Scripps were entirely new additions to the Berkshire portfolio, while the firm increased positions in the other companies on the list.Investors can also replicate Buffett's approach by building positions in Berkshire's biggest overall stock positions, includingApple,Bank of America,Coca-Cola,American Express, andKraft Heinz. Looking at the overlap between the company's biggest recent buys and largest overall holdings, Berkshire's highest-conviction stock pick in the last quarter appears to be Verizon. It made a huge purchase of the telecom giant's stock in the fourth quarter, quickly making it the company's sixth-largest overall stock holding.One more way to invest like Buffett in 2021The other obvious way to invest like Buffett is to buy Berkshire Hathaway stock. The company invested more in buying its own shares than any other stock or asset over the trailing-12-month reporting period. That's a strong indication Buffett believes his company's shares are undervalued.Berkshire Hathaway stock gives investors a simplified avenue to building a diversified position in a wide range of holdings. In addition to its publicly traded stocks and real estate ventures, the company also has full ownership of businesses including GEICO, See's Candies, and Duracell, among others.While Berkshire's somewhat conservative approach has meant that it's lagged broader-market performance in recent years as high-growth tech stocks have scored big wins, the investment firm has one of the best management teams in the financial industry.The market could be primed for substantial volatility through the rest of the year, and keeping an eye on the evolving strategies of one of history's most-successful, value-focused money men continues to be a good idea. Investors will be able to get an even closer look at Buffett's thinking when Berkshire publishes its annual shareholder letter at the end of this month.","news_type":1,"symbols_score_info":{".IXIC":0.9,"CVX":0.9,"SSP":0.9,".DJI":0.9,"KR":0.9,"ABBV":0.9,".SPX":0.9,"BRK.A":0.9,"MMC":0.9,"BRK.B":0.9,"TMUS":0.9,"RH":0.9,"VZ":0.9,"MRK":0.9}},"isVote":1,"tweetType":1,"viewCount":2076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380271745,"gmtCreate":1612544485687,"gmtModify":1703763553991,"author":{"id":"3575600795480376","authorId":"3575600795480376","name":"Greenie","avatar":"https://static.tigerbbs.com/2e5326143a2bd7093ff6102746a82034","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575600795480376","idStr":"3575600795480376"},"themes":[],"title":"","htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380271745","repostId":"1132260998","repostType":4,"isVote":1,"tweetType":1,"viewCount":2497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
