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mengseng
2021-07-26
教育股不可以抄底😅
抱歉,原内容已删除
mengseng
2021-08-13
👍👍👍
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mengseng
2021-07-11
👍
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mengseng
2021-08-22
好文章👍👍👍
中概股的未来
mengseng
2021-07-14
👍
抱歉,原内容已删除
mengseng
2021-07-03
可以休息了👍
提醒:因美国独立日假期,7月5日美股全天休市
mengseng
2021-06-29
😀
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mengseng
2021-07-06
👍👍👍
朝聚眼科一手中签率5.67%,认购18手稳中一手
mengseng
2021-08-07
股市要开始回调😅
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mengseng
2021-07-19
👍👍👍
OPEC+同意增产石油,结束当前的僵持局面
去老虎APP查看更多动态
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09:24","market":"us","language":"zh","title":"中概股的未来","url":"https://stock-news.laohu8.com/highlight/detail?id=1182861188","media":"全球宏观投机","summary":"中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。图四中概股指数与纳指的偏离达到历史极值。中概股的公司相当部分是中国最具成长性的公司。一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。","content":"<p><b>什么是全球宏观视角</b></p>\n<p>全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。</p>\n<p>金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金近些年的表现不如人意。<img src=\"https://static.tigerbbs.com/a56d17afac58a03d34f987776cb9caeb\" tg-width=\"1080\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><b>图一 宏观对冲基金表现不佳</b></p>\n<p><b>中概股的独特宏观因子</b></p>\n<p>我们把实际影响资产价格的投资者大脑中的偏见称之为宏观因子,或者价格驱动因素。略有经验的投资者都知道,影响资产价格的因素非常多,很多都是微观或者产业因素。我们命名为宏观,并不是说一定是宏观经济数据或者事件才会影响价格,而是泛指各种持续长期对价格产生真实影响的变量。比如,有人研究了北京雾霾对投资者情绪的影响,雾霾天投资者情绪总体偏低,更容易卖出而不是买进。但是这并不是我们所讲的宏观因子,因为它对资产价格的影响不是持续有效的。但是,公司盈利增速预期就是影响股票价格的宏观因子,因为几乎在任何时候,这个变量都会影响投资者对股票和市场的感知,从而促使投资者做出买卖行为。</p>\n<p>那么,影响中概股的宏观因子有哪些呢?</p>\n<p>首先考察中国经济周期、金融条件与中概股的关系。我们发现,中概股与中国经济周期关联之紧密,完全不亚于A50股票指数,而在市场表现方面,中概股与A50的相关性也略强。<img src=\"https://static.tigerbbs.com/300a12ca677a0fd4785103236eb19cfe\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\"><b>图二 中国经济基本面与中概股指数</b><img src=\"https://static.tigerbbs.com/13e3524abfeebfafd9bb4c4c966d6998\" tg-width=\"1080\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><b>图三 中概股、A50与创业板</b></p>\n<p>我中概股与大股票相关性更强,说明这些公司与经济周期的关联度更高,同时,投资者对股票的评估很大程度上面依赖于经济前景的判断。</p>\n<p>其二、我们考察中概股与纳斯达克指数的关系。平均看,过去五年,中概股与纳指的线性相关系数达到了0.7,而最近的相关系数下降到0.44。中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。<img src=\"https://static.tigerbbs.com/4efa4c73e5ae6b81ddfa0938211f2231\" tg-width=\"1080\" tg-height=\"498\" referrerpolicy=\"no-referrer\"><b>图四中概股指数与纳指的偏离达到历史极值</b></p>\n<p>其三、中概股目前大跌的原因是什么?</p>\n<p>显然是中国最近出台的一系列监管政策,使得市场的不确定性大增。中概股这个特征跟A股完全类似,对经济政策、监管政策的变化非常敏感。但是,中概股这次大跌多了一层额外的不确定性:中美关系严重影响中概股的表现,从而成为一个真正长期影响价格的宏观因子。</p>\n<p>从这个角度讲,中概股未来充满颠簸,因为地缘政治的不确定性是最坏的不确定性,很难事先规划,一旦发生,市场波动的速度极快,同时,不确定性发展过程也非常曲折,比如今晚中国证监会表达对金融市场以及稳定资本市场预期的善意,这个时候市场就会猛烈的反弹。通常很难评估不确定性发展的阶段以及何时确认结束。</p>\n<p>那么当下的不确定性消失了吗?短期市场的紧张情绪应该得到了缓和,可能支持中概股有一波反弹,但是就中长期来看,中美两国的监管政策、地缘政治的变化,已经成为了中概股投资的一个基本影响变量。</p>\n<p>中概股的未来</p>\n<p>中概股的公司相当部分是中国最具成长性的公司。这是比尔黄押注这些股票的主要理由,比如<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>,中国的音乐付费市场才刚刚启动,还有无数消费场景可以引入付费音乐。但这的确是一个长期充满曲折的过程。从这个角度讲,中概股依然有一些非常优秀的上市公司,其中必然有一些在未来成为伟大的公司,其股票也会创造极大的增值。</p>\n<p>然而,中概股面临两个巨大的挑战:一是中国经济政策的冲击,这种冲击在最近开始变得频繁,二是地缘政治的冲击。资本市场会成为中美角逐的一个战场,而中概股会成为其中的受害者,从专业的术语讲:中概股未来的不确定性已经放大,带来的结果就是估值偏低。而与其类似的是港股,港股是世界上估值最低的市场,因为港股面临独特的不确定性环境:中美两国的经济、金融、政策和地缘政治都可以随时和大幅影响港股。</p>\n<p>一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。</p>\n<p>比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。对资本市场而言,长期我们都已经死了,所以不需要去讨论长期的问题。</p>","source":"qqggdh","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>中概股的未来</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n中概股的未来\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-22 09:24 北京时间 <a href=https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg><strong>全球宏观投机</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>什么是全球宏观视角\n全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。\n金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/bc9de4d397ebba7835e00e3691884586","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","TTTN":"老虎中美互联网巨头ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182861188","content_text":"什么是全球宏观视角\n全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。\n金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金近些年的表现不如人意。图一 宏观对冲基金表现不佳\n中概股的独特宏观因子\n我们把实际影响资产价格的投资者大脑中的偏见称之为宏观因子,或者价格驱动因素。略有经验的投资者都知道,影响资产价格的因素非常多,很多都是微观或者产业因素。我们命名为宏观,并不是说一定是宏观经济数据或者事件才会影响价格,而是泛指各种持续长期对价格产生真实影响的变量。比如,有人研究了北京雾霾对投资者情绪的影响,雾霾天投资者情绪总体偏低,更容易卖出而不是买进。但是这并不是我们所讲的宏观因子,因为它对资产价格的影响不是持续有效的。但是,公司盈利增速预期就是影响股票价格的宏观因子,因为几乎在任何时候,这个变量都会影响投资者对股票和市场的感知,从而促使投资者做出买卖行为。\n那么,影响中概股的宏观因子有哪些呢?\n首先考察中国经济周期、金融条件与中概股的关系。我们发现,中概股与中国经济周期关联之紧密,完全不亚于A50股票指数,而在市场表现方面,中概股与A50的相关性也略强。图二 中国经济基本面与中概股指数图三 中概股、A50与创业板\n我中概股与大股票相关性更强,说明这些公司与经济周期的关联度更高,同时,投资者对股票的评估很大程度上面依赖于经济前景的判断。\n其二、我们考察中概股与纳斯达克指数的关系。平均看,过去五年,中概股与纳指的线性相关系数达到了0.7,而最近的相关系数下降到0.44。中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。图四中概股指数与纳指的偏离达到历史极值\n其三、中概股目前大跌的原因是什么?\n显然是中国最近出台的一系列监管政策,使得市场的不确定性大增。中概股这个特征跟A股完全类似,对经济政策、监管政策的变化非常敏感。但是,中概股这次大跌多了一层额外的不确定性:中美关系严重影响中概股的表现,从而成为一个真正长期影响价格的宏观因子。\n从这个角度讲,中概股未来充满颠簸,因为地缘政治的不确定性是最坏的不确定性,很难事先规划,一旦发生,市场波动的速度极快,同时,不确定性发展过程也非常曲折,比如今晚中国证监会表达对金融市场以及稳定资本市场预期的善意,这个时候市场就会猛烈的反弹。通常很难评估不确定性发展的阶段以及何时确认结束。\n那么当下的不确定性消失了吗?短期市场的紧张情绪应该得到了缓和,可能支持中概股有一波反弹,但是就中长期来看,中美两国的监管政策、地缘政治的变化,已经成为了中概股投资的一个基本影响变量。\n中概股的未来\n中概股的公司相当部分是中国最具成长性的公司。这是比尔黄押注这些股票的主要理由,比如腾讯音乐,中国的音乐付费市场才刚刚启动,还有无数消费场景可以引入付费音乐。但这的确是一个长期充满曲折的过程。从这个角度讲,中概股依然有一些非常优秀的上市公司,其中必然有一些在未来成为伟大的公司,其股票也会创造极大的增值。\n然而,中概股面临两个巨大的挑战:一是中国经济政策的冲击,这种冲击在最近开始变得频繁,二是地缘政治的冲击。资本市场会成为中美角逐的一个战场,而中概股会成为其中的受害者,从专业的术语讲:中概股未来的不确定性已经放大,带来的结果就是估值偏低。而与其类似的是港股,港股是世界上估值最低的市场,因为港股面临独特的不确定性环境:中美两国的经济、金融、政策和地缘政治都可以随时和大幅影响港股。\n一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。\n比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。对资本市场而言,长期我们都已经死了,所以不需要去讨论长期的问题。","news_type":1,"symbols_score_info":{"QNETCN":0.9,".IXIC":0.9,"TTTN":0.9}},"isVote":1,"tweetType":1,"viewCount":2350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838264107,"gmtCreate":1629414609709,"gmtModify":1633685091066,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍👍👍","listText":"👍👍👍👍👍","text":"👍👍👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838264107","repostId":"1177892933","repostType":4,"repost":{"id":"1177892933","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629388917,"share":"https://www.laohu8.com/m/news/1177892933?lang=zh_CN&edition=full","pubTime":"2021-08-20 00:01","market":"us","language":"zh","title":"图森未来大涨超15%,据称又获“牛市女皇”增持","url":"https://stock-news.laohu8.com/highlight/detail?id=1177892933","media":"老虎资讯综合","summary":"周四,图森未来低开高走,股价一路抬升,截至发稿涨幅扩大至15%。\n\n市场消息,“牛市女皇”、ARK基金的创始人凯西·伍德(Catherine Wood)在周三增持图森未来约22.1万股,当日该股收涨2","content":"<p>周四,<a href=\"https://laohu8.com/S/TSP\">图森未来</a>低开高走,股价一路抬升,截至发稿涨幅扩大至15%。</p>\n<p><img src=\"https://static.tigerbbs.com/e1212649a8e8e4b1eda6464876147076\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>市场消息,“牛市女皇”、ARK基金的创始人凯西·伍德(Catherine Wood)在周三增持图森未来约22.1万股,当日该股收涨2.65%。</p>\n<p>业绩方面,2021年第二季度图森未来实现营收148.2万美元,同比增长463.5%,环比上一季度增长57%;净亏损为1.17亿美元,同比扩大316.6%;运营亏损1.21亿美元,同比扩大331.8%。</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\" 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.h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n图森未来大涨超15%,据称又获“牛市女皇”增持\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-08-20 00:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>周四,<a href=\"https://laohu8.com/S/TSP\">图森未来</a>低开高走,股价一路抬升,截至发稿涨幅扩大至15%。</p>\n<p><img src=\"https://static.tigerbbs.com/e1212649a8e8e4b1eda6464876147076\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>市场消息,“牛市女皇”、ARK基金的创始人凯西·伍德(Catherine Wood)在周三增持图森未来约22.1万股,当日该股收涨2.65%。</p>\n<p>业绩方面,2021年第二季度图森未来实现营收148.2万美元,同比增长463.5%,环比上一季度增长57%;净亏损为1.17亿美元,同比扩大316.6%;运营亏损1.21亿美元,同比扩大331.8%。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3b9accdc5716a7368b1240a904c5b874","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177892933","content_text":"周四,图森未来低开高走,股价一路抬升,截至发稿涨幅扩大至15%。\n\n市场消息,“牛市女皇”、ARK基金的创始人凯西·伍德(Catherine 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22:32","market":"other","language":"zh","title":"AMD涨超3%创历史新高,绩后获多家大行上调目标价","url":"https://stock-news.laohu8.com/highlight/detail?id=1114965747","media":"老虎资讯综合","summary":"7月30日,AMD涨超3%,现报106.2美元,股价再创历史新高,近3个交易日累计涨幅已超16%,绩后获多家大行上调目标价。\n\nAMD二季度营收达38.5亿美元,同比增长99%;净利润达7.1亿美元,","content":"<p>7月30日,<a href=\"https://laohu8.com/S/AMD\">AMD</a>涨超3%,现报106.2美元,股价再创历史新高,近3个交易日累计涨幅已超16%,绩后获多家大行上调目标价。</p>\n<p><img src=\"https://static.tigerbbs.com/6ff371be500c72b396cac54bbf67a525\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>AMD二季度营收达38.5亿美元,同比增长99%;净利润达7.1亿美元,同比增长352%。公司绩后获多家大行上调目标价,<a href=\"https://laohu8.com/S/GS\">高盛</a>认为华尔街低估了AMD的长短期收入增长和利润率扩张的潜力,因此将其目标价从106美元上调至115美元。高盛重申了美国超微公司“买入”评级,同时重申美国超微公司在其确信购买名单上的位置。</p>\n<p>瑞穗将AMD目标价从107美元上调至110美元;Argus从目标价106美元升至120美元,维持“买入”评级。</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\" 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style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-30 22:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月30日,<a href=\"https://laohu8.com/S/AMD\">AMD</a>涨超3%,现报106.2美元,股价再创历史新高,近3个交易日累计涨幅已超16%,绩后获多家大行上调目标价。</p>\n<p><img src=\"https://static.tigerbbs.com/6ff371be500c72b396cac54bbf67a525\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>AMD二季度营收达38.5亿美元,同比增长99%;净利润达7.1亿美元,同比增长352%。公司绩后获多家大行上调目标价,<a href=\"https://laohu8.com/S/GS\">高盛</a>认为华尔街低估了AMD的长短期收入增长和利润率扩张的潜力,因此将其目标价从106美元上调至115美元。高盛重申了美国超微公司“买入”评级,同时重申美国超微公司在其确信购买名单上的位置。</p>\n<p>瑞穗将AMD目标价从107美元上调至110美元;Argus从目标价106美元升至120美元,维持“买入”评级。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a593d85be38c3aa543ab3056553101ff","relate_stocks":{"GS":"高盛","AMD":"美国超微公司"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114965747","content_text":"7月30日,AMD涨超3%,现报106.2美元,股价再创历史新高,近3个交易日累计涨幅已超16%,绩后获多家大行上调目标价。\n\nAMD二季度营收达38.5亿美元,同比增长99%;净利润达7.1亿美元,同比增长352%。公司绩后获多家大行上调目标价,高盛认为华尔街低估了AMD的长短期收入增长和利润率扩张的潜力,因此将其目标价从106美元上调至115美元。高盛重申了美国超微公司“买入”评级,同时重申美国超微公司在其确信购买名单上的位置。\n瑞穗将AMD目标价从107美元上调至110美元;Argus从目标价106美元升至120美元,维持“买入”评级。","news_type":1,"symbols_score_info":{"AMD":0.9,"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801439416,"gmtCreate":1627526812435,"gmtModify":1631883952328,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"我对中概股完全失去信心😩","listText":"我对中概股完全失去信心😩","text":"我对中概股完全失去信心😩","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801439416","repostId":"1142633307","repostType":4,"isVote":1,"tweetType":1,"viewCount":1971,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":803360000,"gmtCreate":1627421480300,"gmtModify":1633765277253,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"😒😒😒","listText":"😒😒😒","text":"😒😒😒","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803360000","repostId":"1168202239","repostType":4,"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803387939,"gmtCreate":1627421342521,"gmtModify":1633765278220,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"[难过] 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[难过]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803387939","repostId":"1157541751","repostType":4,"isVote":1,"tweetType":1,"viewCount":1607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":803384752,"gmtCreate":1627421314776,"gmtModify":1633765278461,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803384752","repostId":"1120859674","repostType":4,"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177436694,"gmtCreate":1627256949118,"gmtModify":1633766898555,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"教育股不可以抄底😅","listText":"教育股不可以抄底😅","text":"教育股不可以抄底😅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177436694","repostId":"1120328956","repostType":4,"isVote":1,"tweetType":1,"viewCount":1536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":177492503,"gmtCreate":1627256637602,"gmtModify":1633766906853,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177492503","repostId":"2153840759","repostType":4,"repost":{"id":"2153840759","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627052471,"share":"https://www.laohu8.com/m/news/2153840759?lang=zh_CN&edition=full","pubTime":"2021-07-23 23:01","market":"us","language":"zh","title":"【异动】英特尔跌超5%,CEO称芯片短缺将持续至2023年","url":"https://stock-news.laohu8.com/highlight/detail?id=2153840759","media":"老虎资讯综合","summary":"7月23日,英特尔跌超5%,CEO 称芯片短缺将持续至2023年。\n业界越来越多的人认为,芯片供应中断不会很快得到解决,Gelsinger的预测为这种观点增添了业内领先人物的声音。 在周四的采访中,他","content":"<p>7月23日,<a href=\"https://laohu8.com/S/INTC\">英特尔</a>跌超5%,CEO 称芯片短缺将持续至2023年。</p>\n<p>业界越来越多的人认为,芯片供应中断不会很快得到解决,Gelsinger的预测为这种观点增添了业内领先人物的声音。 在周四的采访中,他表示,半导体行业可能需要一到两年时间才能恢复合理的供需平衡。 我们还有很长的路要走,因为建立制造产能需要很长的时间。此外,英特尔已经在增加新的芯片生产工厂,不过其中一些产能在大约两年内不会到位。<img src=\"https://static.tigerbbs.com/198a9c06c3ac52d89ba193e88d320c04\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<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>【异动】英特尔跌超5%,CEO称芯片短缺将持续至2023年</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n【异动】英特尔跌超5%,CEO称芯片短缺将持续至2023年\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-23 23:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月23日,<a href=\"https://laohu8.com/S/INTC\">英特尔</a>跌超5%,CEO 称芯片短缺将持续至2023年。</p>\n<p>业界越来越多的人认为,芯片供应中断不会很快得到解决,Gelsinger的预测为这种观点增添了业内领先人物的声音。 在周四的采访中,他表示,半导体行业可能需要一到两年时间才能恢复合理的供需平衡。 我们还有很长的路要走,因为建立制造产能需要很长的时间。此外,英特尔已经在增加新的芯片生产工厂,不过其中一些产能在大约两年内不会到位。<img src=\"https://static.tigerbbs.com/198a9c06c3ac52d89ba193e88d320c04\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c74be4c2a08964ef2daf32217f693b44","relate_stocks":{"INTC":"英特尔"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153840759","content_text":"7月23日,英特尔跌超5%,CEO 称芯片短缺将持续至2023年。\n业界越来越多的人认为,芯片供应中断不会很快得到解决,Gelsinger的预测为这种观点增添了业内领先人物的声音。 在周四的采访中,他表示,半导体行业可能需要一到两年时间才能恢复合理的供需平衡。 我们还有很长的路要走,因为建立制造产能需要很长的时间。此外,英特尔已经在增加新的芯片生产工厂,不过其中一些产能在大约两年内不会到位。","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":1119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177306096,"gmtCreate":1627178939715,"gmtModify":1633767445298,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177306096","repostId":"1194494092","repostType":4,"repost":{"id":"1194494092","kind":"news","pubTimestamp":1627109486,"share":"https://www.laohu8.com/m/news/1194494092?lang=zh_CN&edition=full","pubTime":"2021-07-24 14:51","market":"sh","language":"zh","title":"十倍基的“秘密”,基民如何才能真正赚到钱?","url":"https://stock-news.laohu8.com/highlight/detail?id=1194494092","media":" 兴证全球基金","summary":"挖掘出十倍的投资标的,无疑是所有投资者的梦想。正所谓难以实现才叫梦想,但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢?\n为什么是十倍?\n“十倍”(Tenbagger)是美国投资大师","content":"<p>挖掘出十倍的投资标的,无疑是所有投资者的梦想。正所谓难以实现才叫梦想,但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢?</p>\n<p><b>为什么是十倍?</b></p>\n<p>“十倍”(Tenbagger)是美国投资大师彼得·林奇在其自传《One Up On Wall Street》中提及的词汇。</p>\n<p>大概意思是指企业经过长期发展,在营收与利润增长的支持下,股价能够上涨10倍的股票。</p>\n<p>彼得·林奇在自传中曾写道:<b>寻找十倍股最佳的方式就是从身边找起,在那里找不到,就去购物中心里去找,而他早期与十倍股结缘,也正是从“身边”开始的。</b></p>\n<p>彼得·林奇有一次发现自己的三个女儿都在使用来自一家名叫美体小铺(The body Shop)公司的化妆品。The body Shop 虽然是一个美妆品牌,但它在欧美地区的大多数连锁店,都是开在街角等较为显眼的地方,而不仅仅是在商场里。</p>\n<p>彼得·林奇研究发现,这家公司的产品相对标准化,价格亲民,客户覆盖的年龄段相当宽泛。通过增加特许连锁店的方式进行扩张,而且一开始就进行跨国经营,市场扩张能力很强。</p>\n<p>彼得·林奇把握住了这一机会,The body Shop 在英国上市后,股价节节攀升,最终成为名副其实的Tenbagger(十倍股)。</p>\n<p><b>公募基金市场中的Tenbagger</b></p>\n<p>Tenbagger后来也被延用到了基金圈,意指基金净值较发行时增长十倍及以上的基金,截至到2021年6月25日,国内公募基金共有56只十倍基。(数据来源:银河证券,截至2021/6/25)</p>\n<p>这些基金都经历过怎样的市场,又都有什么共同的特点呢?</p>\n<p><b>出生——大部分生于2006年及之前</b></p>\n<p>在56只基金中,除了2只基金,其余54只基金均成立于2006年及之前,经历过2006年-2007年的大牛市,也经历过2008年市场下跌,历经数度牛熊转换,截至2021年6月25日,平均成立时间16.6年。(数据来源:银河证券,截至2021/6/25)</p>\n<p><b>可见,好的投资,确实需要时间的见证。</b></p>\n<p>十倍基成立时间及对应指数点位</p>\n<p><img src=\"https://static.tigerbbs.com/2287c6895d9a9cc1d15c36637e290d10\" tg-width=\"1000\" tg-height=\"407\" referrerpolicy=\"no-referrer\"></p>\n<p>数据来源:银河证券,截至2021/6/25,柱状图代表在当年成立的十倍基数量,折线图代表沪指,左侧轴为相对应指数点位,右侧为基金成立数量。历史业绩不代表未来,基金投资需谨慎。</p>\n<p><b>成长——不总是“班上”前几名</b></p>\n<p>在十倍基的成长过程中,我们发现,它们很少能连续在单一年度业绩排在同类前几名,其中重要的原因之一是,这些基金较少会追求短期热点而放弃长期坚持的投资策略和风格。</p>\n<p>在56只十倍基中,仅有7只基金曾获得过同类别冠军(2007年-2020年),有13只基金未进入过单一年度同类前10,鲜有基金能连续两年排进同类前10。(数据来源:银河证券,截至2021/6/25)</p>\n<p>我们罗列了排在前几位的十倍基每年的“成绩单”,这些基金在短期内无法总在前1/4,但在时间的作用下价值凸显。</p>\n<p>部分十倍基“成绩单”</p>\n<p><img src=\"https://static.tigerbbs.com/971280df3e4665bafe1a50e179559917\" tg-width=\"1000\" tg-height=\"506\" referrerpolicy=\"no-referrer\"></p>\n<p>数据来源:银河证券,截至2021/6/25。历史业绩不代表未来,基金投资需谨慎。</p>\n<p><b>成人——解决“难题”是必修课</b></p>\n<p>A股市场牛短熊长,十倍基往往都经历过数个熊市,而难题也是它们的必修课。</p>\n<p>我们选取了A股市场中几个较为典型的单边下行市场,十倍基在这些市场中的平均跌幅均低于上证指数及偏股基金指数。</p>\n<p>十倍基单边下行市场表现情况</p>\n<p><img src=\"https://static.tigerbbs.com/7eb0ab7b7db6441e489079d3818e347c\" tg-width=\"1000\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>数据来源:wind,银河证券,截至2021/6/25</p>\n<p>尽管这是一种“上帝视角”的探究方式,但这些基金在单边下行市场中的表现,还是给了我们一定的启发。</p>\n<p>其中很重要的一条是,<b>“先求不败,再求胜”,而老练的投资者熟知,下跌50%,需要约100%的涨幅才能回到原点</b>。</p>\n<p>不仅如此,在十倍基的定期报告中我们发现,在市场较热时期,大部分的十倍基金对市场都有一定的防守倾向,2007年一季报中,上述基金中多只基金的报告中提到“提高组合防御性”;2015年部分十倍基金报告中提及“降低持股集中度”等。</p>\n<p><b>所以,十倍基不仅仅是靠着“容易”市场中的上涨,还靠着在面对难“试卷”的时候,也不会表现得太差。</b></p>\n<p><b>成功 —— “家世”与“贵人”的加成</b></p>\n<p>探究十倍基,基金公司及基金经理扮演着重要的角色。</p>\n<p>十倍基的家世,多数都拥有扎实的投研实力,这是支撑基金长期业绩优异的基础之一。</p>\n<p><b>从基金经理来看,好的基金经理可谓是十倍基的“贵人”。</b></p>\n<p>华宝证券曾制作基金经理四象限图,刻画基金经理的行业配置及投资理念。</p>\n<p>整体来看,十倍基基金经理在左侧象限较多,即行业分散或集中、行业少切换。行业均衡分散+行业少切换可以尽可能控制组合的风险;行业集中配置+行业少切换的基金经理通常较为坚定看好某一优质赛道并长期持有。</p>\n<p><img src=\"https://static.tigerbbs.com/b85062db9868a316890ff75fbab0ea3b\" tg-width=\"524\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p>\n<p>资料来源:华宝证券</p>\n<p>当然,在选择十倍基的时候,也要注意分析现任基金经理的在管时间和相关业绩表现,选择更符合自己风险收益偏好的产品。</p>\n<p><b>谁在守护“十倍基”?</b></p>\n<p><b>实际上,一只基金经历的成长、成人以及过程中的“困难时期”,持有人也一样会经历,而能陪伴基金一年者甚多,但十年者甚少。</b></p>\n<p><b>长期投资的理念是要做时间的朋友,‘我能想到最浪漫的事就是和你一起慢慢变老’。</b></p>\n<p><b>——李先生 持有基金17年</b></p>\n<p><b>最长期的基金投资不止10年,最开始是用小孩的压岁钱买的。相信投资的长期力量,会一直坚持。</b></p>\n<p><b>——韩女士 持有基金13年</b></p>\n<p><b>我有可能是唯一一个从发行到现在只买不卖的人。</b></p>\n<p><b>—— “寻找趋势百万持有人”活动留言</b></p>\n<p><b>只有经过时间的积累和努力才有收获质变的可能,一起成长,共同前行。</b></p>\n<p><b>—— 讨论区基民</b></p>\n<p>投资人记事曾做过相关研究,从基金定期报告中,找到十倍基的持有者,他们的特点是,敢于在市场恐慌的时候买入,并比多数投资者更有耐心,有人说,也许他“遗忘”了自己的持仓,但这种“遗忘”,也从另一个侧面成为了十倍基的坚定守护者。</p>\n<p><b>最后,合理的预期是投资和陪伴的前提。投资之路,既要比拼实力,也要比拼耐力,如果是一只优质的基金,不妨多给它一些时间,让价值沉淀。</b></p>","source":"lsy1619314504794","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>十倍基的“秘密”,基民如何才能真正赚到钱?</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n十倍基的“秘密”,基民如何才能真正赚到钱?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-24 14:51 北京时间 <a href=https://mp.weixin.qq.com/s/yZkwS_Je07rH8a47gyUlEA><strong> 兴证全球基金</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>挖掘出十倍的投资标的,无疑是所有投资者的梦想。正所谓难以实现才叫梦想,但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢?\n为什么是十倍?\n“十倍”(Tenbagger)是美国投资大师彼得·林奇在其自传《One Up On Wall Street》中提及的词汇。\n大概意思是指企业经过长期发展,在营收与利润增长的支持下,股价能够上涨10倍的股票。\n彼得·林奇在自传中曾写道:寻找十倍股...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/yZkwS_Je07rH8a47gyUlEA\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/753c9aba3202037bc97463c545d5d015","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/yZkwS_Je07rH8a47gyUlEA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194494092","content_text":"挖掘出十倍的投资标的,无疑是所有投资者的梦想。正所谓难以实现才叫梦想,但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢?\n为什么是十倍?\n“十倍”(Tenbagger)是美国投资大师彼得·林奇在其自传《One Up On Wall Street》中提及的词汇。\n大概意思是指企业经过长期发展,在营收与利润增长的支持下,股价能够上涨10倍的股票。\n彼得·林奇在自传中曾写道:寻找十倍股最佳的方式就是从身边找起,在那里找不到,就去购物中心里去找,而他早期与十倍股结缘,也正是从“身边”开始的。\n彼得·林奇有一次发现自己的三个女儿都在使用来自一家名叫美体小铺(The body Shop)公司的化妆品。The body Shop 虽然是一个美妆品牌,但它在欧美地区的大多数连锁店,都是开在街角等较为显眼的地方,而不仅仅是在商场里。\n彼得·林奇研究发现,这家公司的产品相对标准化,价格亲民,客户覆盖的年龄段相当宽泛。通过增加特许连锁店的方式进行扩张,而且一开始就进行跨国经营,市场扩张能力很强。\n彼得·林奇把握住了这一机会,The body Shop 在英国上市后,股价节节攀升,最终成为名副其实的Tenbagger(十倍股)。\n公募基金市场中的Tenbagger\nTenbagger后来也被延用到了基金圈,意指基金净值较发行时增长十倍及以上的基金,截至到2021年6月25日,国内公募基金共有56只十倍基。(数据来源:银河证券,截至2021/6/25)\n这些基金都经历过怎样的市场,又都有什么共同的特点呢?\n出生——大部分生于2006年及之前\n在56只基金中,除了2只基金,其余54只基金均成立于2006年及之前,经历过2006年-2007年的大牛市,也经历过2008年市场下跌,历经数度牛熊转换,截至2021年6月25日,平均成立时间16.6年。(数据来源:银河证券,截至2021/6/25)\n可见,好的投资,确实需要时间的见证。\n十倍基成立时间及对应指数点位\n\n数据来源:银河证券,截至2021/6/25,柱状图代表在当年成立的十倍基数量,折线图代表沪指,左侧轴为相对应指数点位,右侧为基金成立数量。历史业绩不代表未来,基金投资需谨慎。\n成长——不总是“班上”前几名\n在十倍基的成长过程中,我们发现,它们很少能连续在单一年度业绩排在同类前几名,其中重要的原因之一是,这些基金较少会追求短期热点而放弃长期坚持的投资策略和风格。\n在56只十倍基中,仅有7只基金曾获得过同类别冠军(2007年-2020年),有13只基金未进入过单一年度同类前10,鲜有基金能连续两年排进同类前10。(数据来源:银河证券,截至2021/6/25)\n我们罗列了排在前几位的十倍基每年的“成绩单”,这些基金在短期内无法总在前1/4,但在时间的作用下价值凸显。\n部分十倍基“成绩单”\n\n数据来源:银河证券,截至2021/6/25。历史业绩不代表未来,基金投资需谨慎。\n成人——解决“难题”是必修课\nA股市场牛短熊长,十倍基往往都经历过数个熊市,而难题也是它们的必修课。\n我们选取了A股市场中几个较为典型的单边下行市场,十倍基在这些市场中的平均跌幅均低于上证指数及偏股基金指数。\n十倍基单边下行市场表现情况\n\n数据来源:wind,银河证券,截至2021/6/25\n尽管这是一种“上帝视角”的探究方式,但这些基金在单边下行市场中的表现,还是给了我们一定的启发。\n其中很重要的一条是,“先求不败,再求胜”,而老练的投资者熟知,下跌50%,需要约100%的涨幅才能回到原点。\n不仅如此,在十倍基的定期报告中我们发现,在市场较热时期,大部分的十倍基金对市场都有一定的防守倾向,2007年一季报中,上述基金中多只基金的报告中提到“提高组合防御性”;2015年部分十倍基金报告中提及“降低持股集中度”等。\n所以,十倍基不仅仅是靠着“容易”市场中的上涨,还靠着在面对难“试卷”的时候,也不会表现得太差。\n成功 —— “家世”与“贵人”的加成\n探究十倍基,基金公司及基金经理扮演着重要的角色。\n十倍基的家世,多数都拥有扎实的投研实力,这是支撑基金长期业绩优异的基础之一。\n从基金经理来看,好的基金经理可谓是十倍基的“贵人”。\n华宝证券曾制作基金经理四象限图,刻画基金经理的行业配置及投资理念。\n整体来看,十倍基基金经理在左侧象限较多,即行业分散或集中、行业少切换。行业均衡分散+行业少切换可以尽可能控制组合的风险;行业集中配置+行业少切换的基金经理通常较为坚定看好某一优质赛道并长期持有。\n\n资料来源:华宝证券\n当然,在选择十倍基的时候,也要注意分析现任基金经理的在管时间和相关业绩表现,选择更符合自己风险收益偏好的产品。\n谁在守护“十倍基”?\n实际上,一只基金经历的成长、成人以及过程中的“困难时期”,持有人也一样会经历,而能陪伴基金一年者甚多,但十年者甚少。\n长期投资的理念是要做时间的朋友,‘我能想到最浪漫的事就是和你一起慢慢变老’。\n——李先生 持有基金17年\n最长期的基金投资不止10年,最开始是用小孩的压岁钱买的。相信投资的长期力量,会一直坚持。\n——韩女士 持有基金13年\n我有可能是唯一一个从发行到现在只买不卖的人。\n—— “寻找趋势百万持有人”活动留言\n只有经过时间的积累和努力才有收获质变的可能,一起成长,共同前行。\n—— 讨论区基民\n投资人记事曾做过相关研究,从基金定期报告中,找到十倍基的持有者,他们的特点是,敢于在市场恐慌的时候买入,并比多数投资者更有耐心,有人说,也许他“遗忘”了自己的持仓,但这种“遗忘”,也从另一个侧面成为了十倍基的坚定守护者。\n最后,合理的预期是投资和陪伴的前提。投资之路,既要比拼实力,也要比拼耐力,如果是一只优质的基金,不妨多给它一些时间,让价值沉淀。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174447499,"gmtCreate":1627133117211,"gmtModify":1633767732891,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174447499","repostId":"2153809933","repostType":4,"isVote":1,"tweetType":1,"viewCount":846,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174331516,"gmtCreate":1627075615935,"gmtModify":1633768300070,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579764409572228","authorIdStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174331516","repostId":"2153360675","repostType":2,"repost":{"id":"2153360675","kind":"news","pubTimestamp":1627004209,"share":"https://www.laohu8.com/m/news/2153360675?lang=zh_CN&edition=full","pubTime":"2021-07-23 09:36","market":"us","language":"zh","title":"阿里云为奥运提供云端全球转播技术支援","url":"https://stock-news.laohu8.com/highlight/detail?id=2153360675","media":"AAFN","summary":"阿里 旗下云端运算服务平台阿里云表示,与奥林匹克广播服务公司联手打造的奥林匹克转播云OBS Cloud将在今年东京奥运会上首次投入使用,为全球转播机构提供云上转播支持,将是奥运历史上首次采用云计算支撑全球转播。国际奥委会主席巴赫表示,今年奥运首次采用云支撑全球转播,是数字化水平最高的一届,3D模拟技术亦提供全新的观看体验。","content":"<html><body><p>阿里 旗下云端运算服务平台阿里云表示,与奥林匹克广播服务公司联手打造的奥林匹克转播云OBS Cloud将在今年东京奥运会上首次投入使用,为全球转播机构提供云上转播支持,将是奥运历史上首次采用云计算支撑全球转播。阿里云<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>总裁张建锋表示,全球观众将首次以「云」方式观看奥运;而基於OBS Cloud,转播方不仅可以接收赛事内容,还可以在平台上建立自己的内容创作、管理和分发系统,转播方工作人员将不必亲赴东京奥运现场,可以远程完成转播和编辑工作。国际奥委会主席巴赫表示,今年奥运首次采用云支撑全球转播,是数字化水平最高的一届,3D模拟技术亦提供全新的观看体验。是迈入数字时代的重要一步。(gc/w)~阿思达克财经新闻网址: www.aastocks.com</p></body></html>","source":"aastocks","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\" 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n阿里云为奥运提供云端全球转播技术支援\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-23 09:36 北京时间 <a href=http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=NOW.1114805&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0><strong>AAFN</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>阿里 旗下云端运算服务平台阿里云表示,与奥林匹克广播服务公司联手打造的奥林匹克转播云OBS Cloud将在今年东京奥运会上首次投入使用,为全球转播机构提供云上转播支持,将是奥运历史上首次采用云计算支撑全球转播。阿里云智能总裁张建锋表示,全球观众将首次以「云」方式观看奥运;而基於OBS Cloud,转播方不仅可以接收赛事内容,还可以在平台上建立自己的内容创作、管理和分发系统,转播方工作人员将不必...</p>\n\n<a href=\"http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=NOW.1114805&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c6c9a7d77e798f12f2e1532e2204e1c5","relate_stocks":{"09988":"阿里巴巴-W"},"source_url":"http://www.aastocks.com/apps/data/iphone/news/newscontent.aspx?newsid=NOW.1114805&style=5&chgstyle=1&categoryid=stock&width=320&market_id=hk&fontary=3&platform=iPhone&language=sc&isfirstreq=1&sourceid=aafn&datatype=0","is_english":false,"share_image_url":"https://static.laohu8.com/51f6b9126f36f92bbf92982596066e5a","article_id":"2153360675","content_text":"阿里 旗下云端运算服务平台阿里云表示,与奥林匹克广播服务公司联手打造的奥林匹克转播云OBS Cloud将在今年东京奥运会上首次投入使用,为全球转播机构提供云上转播支持,将是奥运历史上首次采用云计算支撑全球转播。阿里云智能总裁张建锋表示,全球观众将首次以「云」方式观看奥运;而基於OBS Cloud,转播方不仅可以接收赛事内容,还可以在平台上建立自己的内容创作、管理和分发系统,转播方工作人员将不必亲赴东京奥运现场,可以远程完成转播和编辑工作。国际奥委会主席巴赫表示,今年奥运首次采用云支撑全球转播,是数字化水平最高的一届,3D模拟技术亦提供全新的观看体验。是迈入数字时代的重要一步。(gc/w)~阿思达克财经新闻网址: www.aastocks.com","news_type":1,"symbols_score_info":{"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":177436694,"gmtCreate":1627256949118,"gmtModify":1633766898555,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"教育股不可以抄底😅","listText":"教育股不可以抄底😅","text":"教育股不可以抄底😅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177436694","repostId":"1120328956","repostType":4,"isVote":1,"tweetType":1,"viewCount":1536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":894109547,"gmtCreate":1628809820889,"gmtModify":1633689396743,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894109547","repostId":"1160603020","repostType":4,"isVote":1,"tweetType":1,"viewCount":2016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148402782,"gmtCreate":1625998924346,"gmtModify":1633931004404,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148402782","repostId":"1155854665","repostType":4,"isVote":1,"tweetType":1,"viewCount":546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832891202,"gmtCreate":1629603449206,"gmtModify":1633683809898,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"好文章👍👍👍","listText":"好文章👍👍👍","text":"好文章👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832891202","repostId":"1182861188","repostType":4,"repost":{"id":"1182861188","kind":"news","pubTimestamp":1629595474,"share":"https://www.laohu8.com/m/news/1182861188?lang=zh_CN&edition=full","pubTime":"2021-08-22 09:24","market":"us","language":"zh","title":"中概股的未来","url":"https://stock-news.laohu8.com/highlight/detail?id=1182861188","media":"全球宏观投机","summary":"中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。图四中概股指数与纳指的偏离达到历史极值。中概股的公司相当部分是中国最具成长性的公司。一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。","content":"<p><b>什么是全球宏观视角</b></p>\n<p>全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。</p>\n<p>金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金近些年的表现不如人意。<img src=\"https://static.tigerbbs.com/a56d17afac58a03d34f987776cb9caeb\" tg-width=\"1080\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><b>图一 宏观对冲基金表现不佳</b></p>\n<p><b>中概股的独特宏观因子</b></p>\n<p>我们把实际影响资产价格的投资者大脑中的偏见称之为宏观因子,或者价格驱动因素。略有经验的投资者都知道,影响资产价格的因素非常多,很多都是微观或者产业因素。我们命名为宏观,并不是说一定是宏观经济数据或者事件才会影响价格,而是泛指各种持续长期对价格产生真实影响的变量。比如,有人研究了北京雾霾对投资者情绪的影响,雾霾天投资者情绪总体偏低,更容易卖出而不是买进。但是这并不是我们所讲的宏观因子,因为它对资产价格的影响不是持续有效的。但是,公司盈利增速预期就是影响股票价格的宏观因子,因为几乎在任何时候,这个变量都会影响投资者对股票和市场的感知,从而促使投资者做出买卖行为。</p>\n<p>那么,影响中概股的宏观因子有哪些呢?</p>\n<p>首先考察中国经济周期、金融条件与中概股的关系。我们发现,中概股与中国经济周期关联之紧密,完全不亚于A50股票指数,而在市场表现方面,中概股与A50的相关性也略强。<img src=\"https://static.tigerbbs.com/300a12ca677a0fd4785103236eb19cfe\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\"><b>图二 中国经济基本面与中概股指数</b><img src=\"https://static.tigerbbs.com/13e3524abfeebfafd9bb4c4c966d6998\" tg-width=\"1080\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><b>图三 中概股、A50与创业板</b></p>\n<p>我中概股与大股票相关性更强,说明这些公司与经济周期的关联度更高,同时,投资者对股票的评估很大程度上面依赖于经济前景的判断。</p>\n<p>其二、我们考察中概股与纳斯达克指数的关系。平均看,过去五年,中概股与纳指的线性相关系数达到了0.7,而最近的相关系数下降到0.44。中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。<img src=\"https://static.tigerbbs.com/4efa4c73e5ae6b81ddfa0938211f2231\" tg-width=\"1080\" tg-height=\"498\" referrerpolicy=\"no-referrer\"><b>图四中概股指数与纳指的偏离达到历史极值</b></p>\n<p>其三、中概股目前大跌的原因是什么?</p>\n<p>显然是中国最近出台的一系列监管政策,使得市场的不确定性大增。中概股这个特征跟A股完全类似,对经济政策、监管政策的变化非常敏感。但是,中概股这次大跌多了一层额外的不确定性:中美关系严重影响中概股的表现,从而成为一个真正长期影响价格的宏观因子。</p>\n<p>从这个角度讲,中概股未来充满颠簸,因为地缘政治的不确定性是最坏的不确定性,很难事先规划,一旦发生,市场波动的速度极快,同时,不确定性发展过程也非常曲折,比如今晚中国证监会表达对金融市场以及稳定资本市场预期的善意,这个时候市场就会猛烈的反弹。通常很难评估不确定性发展的阶段以及何时确认结束。</p>\n<p>那么当下的不确定性消失了吗?短期市场的紧张情绪应该得到了缓和,可能支持中概股有一波反弹,但是就中长期来看,中美两国的监管政策、地缘政治的变化,已经成为了中概股投资的一个基本影响变量。</p>\n<p>中概股的未来</p>\n<p>中概股的公司相当部分是中国最具成长性的公司。这是比尔黄押注这些股票的主要理由,比如<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>,中国的音乐付费市场才刚刚启动,还有无数消费场景可以引入付费音乐。但这的确是一个长期充满曲折的过程。从这个角度讲,中概股依然有一些非常优秀的上市公司,其中必然有一些在未来成为伟大的公司,其股票也会创造极大的增值。</p>\n<p>然而,中概股面临两个巨大的挑战:一是中国经济政策的冲击,这种冲击在最近开始变得频繁,二是地缘政治的冲击。资本市场会成为中美角逐的一个战场,而中概股会成为其中的受害者,从专业的术语讲:中概股未来的不确定性已经放大,带来的结果就是估值偏低。而与其类似的是港股,港股是世界上估值最低的市场,因为港股面临独特的不确定性环境:中美两国的经济、金融、政策和地缘政治都可以随时和大幅影响港股。</p>\n<p>一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。</p>\n<p>比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。对资本市场而言,长期我们都已经死了,所以不需要去讨论长期的问题。</p>","source":"qqggdh","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>中概股的未来</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n中概股的未来\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-22 09:24 北京时间 <a href=https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg><strong>全球宏观投机</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>什么是全球宏观视角\n全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。\n金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/bc9de4d397ebba7835e00e3691884586","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","TTTN":"老虎中美互联网巨头ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://mp.weixin.qq.com/s/0zufFWNGXYzP0f-XCuVHMg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182861188","content_text":"什么是全球宏观视角\n全球宏观作为一种富有特色的投资和交易类别,侧重从全球以及各国经济周期、金融条件和地缘政治的视角寻求中期的大型资产价格运动机会,这个价格变动方向,可以向上,也可以向下。全球宏观思路用于资产配置,最典型的是斯文森时代的耶鲁捐赠基金;而用于更加灵活多变的交易,最典型的是德鲁肯米勒和索罗斯共同管理时代的量子基金。\n金融危机以后,全球宏观交易方式受到很大的质疑,原因在于这种风格的基金近些年的表现不如人意。图一 宏观对冲基金表现不佳\n中概股的独特宏观因子\n我们把实际影响资产价格的投资者大脑中的偏见称之为宏观因子,或者价格驱动因素。略有经验的投资者都知道,影响资产价格的因素非常多,很多都是微观或者产业因素。我们命名为宏观,并不是说一定是宏观经济数据或者事件才会影响价格,而是泛指各种持续长期对价格产生真实影响的变量。比如,有人研究了北京雾霾对投资者情绪的影响,雾霾天投资者情绪总体偏低,更容易卖出而不是买进。但是这并不是我们所讲的宏观因子,因为它对资产价格的影响不是持续有效的。但是,公司盈利增速预期就是影响股票价格的宏观因子,因为几乎在任何时候,这个变量都会影响投资者对股票和市场的感知,从而促使投资者做出买卖行为。\n那么,影响中概股的宏观因子有哪些呢?\n首先考察中国经济周期、金融条件与中概股的关系。我们发现,中概股与中国经济周期关联之紧密,完全不亚于A50股票指数,而在市场表现方面,中概股与A50的相关性也略强。图二 中国经济基本面与中概股指数图三 中概股、A50与创业板\n我中概股与大股票相关性更强,说明这些公司与经济周期的关联度更高,同时,投资者对股票的评估很大程度上面依赖于经济前景的判断。\n其二、我们考察中概股与纳斯达克指数的关系。平均看,过去五年,中概股与纳指的线性相关系数达到了0.7,而最近的相关系数下降到0.44。中概股近期的大幅偏离纳指,说明是其他宏观因子主导了价格运动。图四中概股指数与纳指的偏离达到历史极值\n其三、中概股目前大跌的原因是什么?\n显然是中国最近出台的一系列监管政策,使得市场的不确定性大增。中概股这个特征跟A股完全类似,对经济政策、监管政策的变化非常敏感。但是,中概股这次大跌多了一层额外的不确定性:中美关系严重影响中概股的表现,从而成为一个真正长期影响价格的宏观因子。\n从这个角度讲,中概股未来充满颠簸,因为地缘政治的不确定性是最坏的不确定性,很难事先规划,一旦发生,市场波动的速度极快,同时,不确定性发展过程也非常曲折,比如今晚中国证监会表达对金融市场以及稳定资本市场预期的善意,这个时候市场就会猛烈的反弹。通常很难评估不确定性发展的阶段以及何时确认结束。\n那么当下的不确定性消失了吗?短期市场的紧张情绪应该得到了缓和,可能支持中概股有一波反弹,但是就中长期来看,中美两国的监管政策、地缘政治的变化,已经成为了中概股投资的一个基本影响变量。\n中概股的未来\n中概股的公司相当部分是中国最具成长性的公司。这是比尔黄押注这些股票的主要理由,比如腾讯音乐,中国的音乐付费市场才刚刚启动,还有无数消费场景可以引入付费音乐。但这的确是一个长期充满曲折的过程。从这个角度讲,中概股依然有一些非常优秀的上市公司,其中必然有一些在未来成为伟大的公司,其股票也会创造极大的增值。\n然而,中概股面临两个巨大的挑战:一是中国经济政策的冲击,这种冲击在最近开始变得频繁,二是地缘政治的冲击。资本市场会成为中美角逐的一个战场,而中概股会成为其中的受害者,从专业的术语讲:中概股未来的不确定性已经放大,带来的结果就是估值偏低。而与其类似的是港股,港股是世界上估值最低的市场,因为港股面临独特的不确定性环境:中美两国的经济、金融、政策和地缘政治都可以随时和大幅影响港股。\n一句话,中概股的未来就是港股化和边缘化,这个过程可能要持续到中美地缘政治关系出现新阶段为止。\n比尔黄见证了中概股最辉煌的时期和亲历了辉煌开始结束。对资本市场而言,长期我们都已经死了,所以不需要去讨论长期的问题。","news_type":1,"symbols_score_info":{"QNETCN":0.9,".IXIC":0.9,"TTTN":0.9}},"isVote":1,"tweetType":1,"viewCount":2350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":145146664,"gmtCreate":1626211777058,"gmtModify":1633929109089,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145146664","repostId":"2151569582","repostType":4,"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152128826,"gmtCreate":1625276997565,"gmtModify":1633941868123,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"可以休息了👍","listText":"可以休息了👍","text":"可以休息了👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152128826","repostId":"1168133884","repostType":4,"repost":{"id":"1168133884","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625021330,"share":"https://www.laohu8.com/m/news/1168133884?lang=zh_CN&edition=full","pubTime":"2021-06-30 10:48","market":"sg","language":"zh","title":"提醒:因美国独立日假期,7月5日美股全天休市","url":"https://stock-news.laohu8.com/highlight/detail?id=1168133884","media":"老虎资讯综合","summary":"因美国独立日假期,7月5日(周一)美股休市一日,7月6日(周二)起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介:\n独立日是美国法定国庆日,日期为每年7月4日,以纪念1776年7月","content":"<p><b>因美国独立日假期,7月5日(周一)美股休市一日,7月6日(周二)起恢复交易。</b></p>\n<p>港股、A股、英股、澳股、新加坡股市照常交易。</p>\n<p><b>背景简介:</b></p>\n<p><b>独立日</b>是美国法定国庆日,日期为每年7月4日,以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日,与宗教、民俗节日一样隆重,老百姓在节日前清洁院落,装饰家居,悬挂国旗。<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></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>提醒:因美国独立日假期,7月5日美股全天休市</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n提醒:因美国独立日假期,7月5日美股全天休市\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-06-30 10:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>因美国独立日假期,7月5日(周一)美股休市一日,7月6日(周二)起恢复交易。</b></p>\n<p>港股、A股、英股、澳股、新加坡股市照常交易。</p>\n<p><b>背景简介:</b></p>\n<p><b>独立日</b>是美国法定国庆日,日期为每年7月4日,以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日,与宗教、民俗节日一样隆重,老百姓在节日前清洁院落,装饰家居,悬挂国旗。<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21dd6adec6b29203b5bca22347419441","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168133884","content_text":"因美国独立日假期,7月5日(周一)美股休市一日,7月6日(周二)起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介:\n独立日是美国法定国庆日,日期为每年7月4日,以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日,与宗教、民俗节日一样隆重,老百姓在节日前清洁院落,装饰家居,悬挂国旗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":159359964,"gmtCreate":1624943117458,"gmtModify":1633946668530,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"😀","listText":"😀","text":"😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159359964","repostId":"1104770632","repostType":4,"isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154579873,"gmtCreate":1625536395292,"gmtModify":1633939882113,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154579873","repostId":"1165762531","repostType":4,"repost":{"id":"1165762531","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625527248,"share":"https://www.laohu8.com/m/news/1165762531?lang=zh_CN&edition=full","pubTime":"2021-07-06 07:20","market":"hk","language":"zh","title":"朝聚眼科一手中签率5.67%,认购18手稳中一手","url":"https://stock-news.laohu8.com/highlight/detail?id=1165762531","media":"老虎资讯综合","summary":"7月6日,朝聚眼科发布公告,公司全球发售1.7093亿股股份,其中香港发售股份8546.5万股,国际发售股份8546.5万股,另有15%超额配股权;发售价已厘定为每股发售股份10.60港元,每手买卖单","content":"<p>7月6日,<a href=\"https://laohu8.com/S/02219\">朝聚眼科</a>发布公告,公司全球发售1.7093亿股股份,其中香港发售股份8546.5万股,国际发售股份8546.5万股,另有15%超额配股权;发售价已厘定为每股发售股份10.60港元,每手买卖单位500股;<a href=\"https://laohu8.com/S/00665\">海通国际</a>及华泰国际为联席保荐人,预期股份将于2021年7月7日于联交所主板挂牌上市。</p>\n<p><b>老虎资讯整理相关数据如下:</b></p>\n<p><img src=\"https://static.tigerbbs.com/6441c511f91e6e84af7887855b0edc92\" tg-width=\"1059\" tg-height=\"824\" referrerpolicy=\"no-referrer\"></p>\n<p><b>分配结果:</b></p>\n<p>甲组每手500股,一手中签率5.67%,认购18手稳中一手。</p>\n<p>乙组头为50万股(1000手),获配23000股(46手)。<img src=\"https://static.tigerbbs.com/c6d46a2302cf5f5cd13d74bd999ba571\" tg-width=\"551\" tg-height=\"433\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/22d1f538f9c2dfe684d9be93e828fe18\" tg-width=\"556\" tg-height=\"762\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/48b32d1999086d04329dfb7fa00773ce\" tg-width=\"553\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p>根据国际发售初步提呈发售的发售股份已获大幅超额认购约17.83倍。根据香港公开发售初步提呈发售的发售股份已获非常大幅超额认购。合共接获153,275份有效申请,认购合共19.48亿股,相当于根据香港公开发售初步可供认购的香港发售股份总数约113.97倍。</p>\n<p>基于发售价每股发售股份10.60港元计算,根据基石投资协议,基石投资者已认购合共7467.45万股发售股份,合共占紧随全球发售完成后公司已发行股本约10.86%;及全球发售项下发售股份数目约43.69%(假设超额配股权未获行使)。</p>\n<p>基于发售价每股发售股份10.60港元计算,根据最新估计,公司自全球发售收取的所得款项净额估计约为13.571亿港元(假设超额配股权未获行使)。其中,公司拟将所得款项净额约35.8%将用于建立新医院以及搬迁、升级及装修现有医院;约44.8%将在出现合适机遇时,用于在人口庞大且对眼科医疗服务需求相对较高的新市场中收购医院;约9.4%将用于升级公司的信息技术系统;及约10.0%将用于营运资金及其他一般企业用途。</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>朝聚眼科一手中签率5.67%,认购18手稳中一手</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n朝聚眼科一手中签率5.67%,认购18手稳中一手\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-06 07:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月6日,<a href=\"https://laohu8.com/S/02219\">朝聚眼科</a>发布公告,公司全球发售1.7093亿股股份,其中香港发售股份8546.5万股,国际发售股份8546.5万股,另有15%超额配股权;发售价已厘定为每股发售股份10.60港元,每手买卖单位500股;<a href=\"https://laohu8.com/S/00665\">海通国际</a>及华泰国际为联席保荐人,预期股份将于2021年7月7日于联交所主板挂牌上市。</p>\n<p><b>老虎资讯整理相关数据如下:</b></p>\n<p><img src=\"https://static.tigerbbs.com/6441c511f91e6e84af7887855b0edc92\" tg-width=\"1059\" tg-height=\"824\" referrerpolicy=\"no-referrer\"></p>\n<p><b>分配结果:</b></p>\n<p>甲组每手500股,一手中签率5.67%,认购18手稳中一手。</p>\n<p>乙组头为50万股(1000手),获配23000股(46手)。<img src=\"https://static.tigerbbs.com/c6d46a2302cf5f5cd13d74bd999ba571\" tg-width=\"551\" tg-height=\"433\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/22d1f538f9c2dfe684d9be93e828fe18\" tg-width=\"556\" tg-height=\"762\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/48b32d1999086d04329dfb7fa00773ce\" tg-width=\"553\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p>根据国际发售初步提呈发售的发售股份已获大幅超额认购约17.83倍。根据香港公开发售初步提呈发售的发售股份已获非常大幅超额认购。合共接获153,275份有效申请,认购合共19.48亿股,相当于根据香港公开发售初步可供认购的香港发售股份总数约113.97倍。</p>\n<p>基于发售价每股发售股份10.60港元计算,根据基石投资协议,基石投资者已认购合共7467.45万股发售股份,合共占紧随全球发售完成后公司已发行股本约10.86%;及全球发售项下发售股份数目约43.69%(假设超额配股权未获行使)。</p>\n<p>基于发售价每股发售股份10.60港元计算,根据最新估计,公司自全球发售收取的所得款项净额估计约为13.571亿港元(假设超额配股权未获行使)。其中,公司拟将所得款项净额约35.8%将用于建立新医院以及搬迁、升级及装修现有医院;约44.8%将在出现合适机遇时,用于在人口庞大且对眼科医疗服务需求相对较高的新市场中收购医院;约9.4%将用于升级公司的信息技术系统;及约10.0%将用于营运资金及其他一般企业用途。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"02219":"朝聚眼科"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165762531","content_text":"7月6日,朝聚眼科发布公告,公司全球发售1.7093亿股股份,其中香港发售股份8546.5万股,国际发售股份8546.5万股,另有15%超额配股权;发售价已厘定为每股发售股份10.60港元,每手买卖单位500股;海通国际及华泰国际为联席保荐人,预期股份将于2021年7月7日于联交所主板挂牌上市。\n老虎资讯整理相关数据如下:\n\n分配结果:\n甲组每手500股,一手中签率5.67%,认购18手稳中一手。\n乙组头为50万股(1000手),获配23000股(46手)。\n根据国际发售初步提呈发售的发售股份已获大幅超额认购约17.83倍。根据香港公开发售初步提呈发售的发售股份已获非常大幅超额认购。合共接获153,275份有效申请,认购合共19.48亿股,相当于根据香港公开发售初步可供认购的香港发售股份总数约113.97倍。\n基于发售价每股发售股份10.60港元计算,根据基石投资协议,基石投资者已认购合共7467.45万股发售股份,合共占紧随全球发售完成后公司已发行股本约10.86%;及全球发售项下发售股份数目约43.69%(假设超额配股权未获行使)。\n基于发售价每股发售股份10.60港元计算,根据最新估计,公司自全球发售收取的所得款项净额估计约为13.571亿港元(假设超额配股权未获行使)。其中,公司拟将所得款项净额约35.8%将用于建立新医院以及搬迁、升级及装修现有医院;约44.8%将在出现合适机遇时,用于在人口庞大且对眼科医疗服务需求相对较高的新市场中收购医院;约9.4%将用于升级公司的信息技术系统;及约10.0%将用于营运资金及其他一般企业用途。","news_type":1,"symbols_score_info":{"02219":0.9}},"isVote":1,"tweetType":1,"viewCount":363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893710710,"gmtCreate":1628299963330,"gmtModify":1633751865453,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"股市要开始回调😅","listText":"股市要开始回调😅","text":"股市要开始回调😅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893710710","repostId":"1157677906","repostType":4,"isVote":1,"tweetType":1,"viewCount":2255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":173151642,"gmtCreate":1626649478486,"gmtModify":1633925366267,"author":{"id":"3579764409572228","authorId":"3579764409572228","name":"mengseng","avatar":"https://static.tigerbbs.com/fa459e0d8e39660281c1567ec5207287","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579764409572228","idStr":"3579764409572228"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/173151642","repostId":"1160796593","repostType":4,"repost":{"id":"1160796593","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626606185,"share":"https://www.laohu8.com/m/news/1160796593?lang=zh_CN&edition=full","pubTime":"2021-07-18 19:03","market":"other","language":"zh","title":"OPEC+同意增产石油,结束当前的僵持局面","url":"https://stock-news.laohu8.com/highlight/detail?id=1160796593","media":"老虎资讯综合","summary":"7月18日,在沙特和阿联酋解决了一项阻碍协议达成的争端后,欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示,该组织将每月增产至多40万桶/日,直到所有闲置的产能都恢复,根据协议,阿联酋、伊拉克和","content":"<p>7月18日,在沙特和阿联酋解决了一项阻碍协议达成的争端后,欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示,该组织将每月增产至多40万桶/日,直到所有闲置的产能都恢复,根据协议,阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张,并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日,将于2022年5月开始生效。</p>\n<p>除了阿联酋,其他OPEC+成员也有望获得新的减产基准,伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始,将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产,新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议,下一次欧佩克+会议将在9月21日举行,同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示,欧佩克+计划在2022年9月之前,在市场条件允许的情况下,全面取消580万桶/日的减产。</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>OPEC+同意增产石油,结束当前的僵持局面</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nOPEC+同意增产石油,结束当前的僵持局面\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-18 19:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月18日,在沙特和阿联酋解决了一项阻碍协议达成的争端后,欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示,该组织将每月增产至多40万桶/日,直到所有闲置的产能都恢复,根据协议,阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张,并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。</p>\n<p>OPEC+同意阿联酋的原油减产新基线为350万桶/日,将于2022年5月开始生效。</p>\n<p>除了阿联酋,其他OPEC+成员也有望获得新的减产基准,伊拉克和科威特的产量基线分别提高15万桶/天。</p>\n<p>欧佩克+同意从2022年5月开始,将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。</p>\n<p>OPEC+还同意从8月起进一步放宽减产,新的原油减产基准线将于2022年5月生效。</p>\n<p>欧佩克+已经就原油生产问题达成协议,下一次欧佩克+会议将在9月21日举行,同意将减产协议延长至2022年底。</p>\n<p>欧佩克草案声明显示,欧佩克+计划在2022年9月之前,在市场条件允许的情况下,全面取消580万桶/日的减产。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160796593","content_text":"7月18日,在沙特和阿联酋解决了一项阻碍协议达成的争端后,欧佩克及其盟友同意逐步向市场增加石油供应。与会代表表示,该组织将每月增产至多40万桶/日,直到所有闲置的产能都恢复,根据协议,阿联酋、伊拉克和科威特从2022年5月起将获得更高的产量配额。协议将缓解迫在眉睫的供应紧张,并降低油价上涨的风险。这也为一场令交易员不安的僵局画上了句号。\nOPEC+同意阿联酋的原油减产新基线为350万桶/日,将于2022年5月开始生效。\n除了阿联酋,其他OPEC+成员也有望获得新的减产基准,伊拉克和科威特的产量基线分别提高15万桶/天。\n欧佩克+同意从2022年5月开始,将沙特和俄罗斯的基准石油产量从之前的1100万桶/日调整为1150万桶/日。\nOPEC+还同意从8月起进一步放宽减产,新的原油减产基准线将于2022年5月生效。\n欧佩克+已经就原油生产问题达成协议,下一次欧佩克+会议将在9月21日举行,同意将减产协议延长至2022年底。\n欧佩克草案声明显示,欧佩克+计划在2022年9月之前,在市场条件允许的情况下,全面取消580万桶/日的减产。","news_type":1,"symbols_score_info":{"BZmain":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}