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1moretime

1moretime

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2021-12-11

Why?? Again?!

Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd股价早盘下跌超过5%</blockquote>

2021-12-05

This is so sad.

Alibaba shares fell nearly 9%, hitting a 52 week low<blockquote>阿里巴巴-SW股价跌近9%创52周新低</blockquote>

2021-11-10

C’mon! Give us something to cheer about

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2021-11-08

I love good news!

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2021-11-06

Such a bold piece!

Tesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</blockquote>

2021-10-29

Facebook -> Meta.. that’s gonna take some getting used to

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2021-10-26

There is no stopping Tesla!

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2021-10-24

Market leader calls the shots!

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2021-10-06

💪🏻💪🏻💪🏻

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2021-10-05

Just another hiccup for Facebook.

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2021-10-02

I am watching you Pinterest!

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2021-09-24

Seems like no news is bad enough to hamper the optimism in the market!

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2021-09-23

💪🏻💪🏻💪🏻

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2021-09-14

A very sensible read.

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2021-09-10

Defying the odds

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2021-09-01

$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??

2021-08-29

Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!

Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</blockquote>

2021-08-24

//@1moretime:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.

Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>

2021-08-24

Well I think it is subjective and differs from person to person. //@Short:Penny stock is like gambling in a casino. Always fun

Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>

2021-08-22

Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.

Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba shares fell nearly 9%, hitting a 52 week low<blockquote>阿里巴巴-SW股价跌近9%创52周新低</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba shares fell nearly 9%, hitting a 52 week low<blockquote>阿里巴巴-SW股价跌近9%创52周新低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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 smaller\">2021-12-03 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Alibaba shares fell nearly 9%&nbsp;in morning trading, hitting a 52 week low.</p><p><blockquote>阿里巴巴-SW股价早盘下跌近9%，创52周新低。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bffdf13d46c5b423e7d19ca33abd1d05\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192973257","content_text":"Alibaba shares fell nearly 9% in morning trading, hitting a 52 week low.","news_type":1,"symbols_score_info":{"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":2052,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":847605213,"gmtCreate":1636510517426,"gmtModify":1636511190753,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"C’mon! Give us something to cheer about&nbsp;","listText":"C’mon! Give us something to cheer about&nbsp;","text":"C’mon! Give us something to cheer about","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/847605213","repostId":"1179672442","repostType":4,"isVote":1,"tweetType":1,"viewCount":2776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845827717,"gmtCreate":1636330147468,"gmtModify":1636330147709,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"I love good news!","listText":"I love good news!","text":"I love good news!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/845827717","repostId":"1173813098","repostType":4,"isVote":1,"tweetType":1,"viewCount":2988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842129109,"gmtCreate":1636157017893,"gmtModify":1636157018178,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Such a bold piece!","listText":"Such a bold piece!","text":"Such a bold piece!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842129109","repostId":"1180620689","repostType":4,"repost":{"id":"1180620689","kind":"news","pubTimestamp":1636112077,"share":"https://www.laohu8.com/m/news/1180620689?lang=zh_CN&edition=full","pubTime":"2021-11-05 19:34","market":"us","language":"en","title":"Tesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180620689","media":"Barrons","summary":"Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-r","content":"<p>Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.</p><p><blockquote>特斯拉的市值最近远远超过1万亿美元，但独立投资研究公司New Constructs认为，该公司的估值被高估了约1万亿美元。该公司首席执行官David Trainer表示，特斯拉股价可能会下跌88%，至每股约150美元。</blockquote></p><p> His argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.</p><p><blockquote>他的论点主要基于数学，这并不是特斯拉（股票代码：TSLA）投资者必须权衡的第一个极端熊市或牛市案例。</blockquote></p><p> Tesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the&nbsp;S&amp;P 500&nbsp;advanced 0.4% and the&nbsp;Dow Jones Industrial Average&nbsp;finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company&nbsp;Hertz&nbsp;(HTZZ) have sent the stock through the roof.</p><p><blockquote>特斯拉股价在过去一个月上涨了约57%，在周四下午上涨1.3%后，周五盘前交易中几乎没有变化，而标准普尔500指数上涨0.4%，道琼斯工业平均指数收盘下跌0.1%。强劲的第三季度交付量、盈利以及向汽车租赁公司赫兹(HTZZ)出售10万辆汽车，使该股股价飙升。</blockquote></p><p> Today, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.</p><p><blockquote>如今，特斯拉的身价约为1.2万亿美元——一位培训师称这个数字毫无意义。特斯拉没有立即回应置评请求。</blockquote></p><p> “The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than&nbsp;Apple&nbsp;[AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.</p><p><blockquote>Trainer在周四的一份报告中写道：“1.2万亿美元的估值意味着特斯拉拥有整个全球乘用电动汽车市场的118%，到2030年利润将超过苹果[AAPL]。”他的工作着眼于公司必须实现什么样的销售额和收益才能达到那么高的价值。</blockquote></p><p> Trainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.</p><p><blockquote>Trainer认为，特斯拉必须在2030年销售近3100万辆汽车才能证明当前估值的合理性。根据国际能源署的数据，这超过了他对整个行业产量的预期。IEA 2021年电动汽车展望的基本情景预计，到本世纪末，全球电动汽车年销量约为2800万辆。</blockquote></p><p> To be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his <a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">goal for EVs</a> to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.</p><p><blockquote>可以肯定的是，IEA的报告是在四月份发布的，当时许多汽车制造商承诺在汽车电气化和电池产能上投入数十亿美元。八月，乔·拜登总统宣布了他的<a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">电动汽车的目标</a>到2030年占新车销量的50%。IEA的报告包括了到2030年全球每年销售约4700万辆电动汽车的最佳情景。</blockquote></p><p> There are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.</p><p><blockquote>当然，也有看好特斯拉的人，他们中的大多数人不相信特斯拉到2030年每年会售出3100万辆汽车。摩根士丹利(Morgan Stanley)的亚当·乔纳斯(Adam Jonas)将该股评级为买入，目标价为1,200美元，预计届时年销量约为800万辆。</blockquote></p><p> Jonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors&nbsp;(GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.</p><p><blockquote>Jonas认为，特斯拉将比传统汽车制造商更有利可图。但Trainer假设特斯拉的营业利润率将与通用汽车(GM)持平。他表示，特斯拉售出3100万辆汽车，这可能意味着2030年营业利润将达到1310亿美元，高于苹果目前超过1000亿美元的收入。</blockquote></p><p> But if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.</p><p><blockquote>但Trainer表示，如果Jonas对特斯拉2030年销售800万辆汽车的看涨期权是正确的，假设Elon Musk的公司仅与通用8.5%的税后净营业利润率相当，那么每年将产生约300亿美元的收益。</blockquote></p><p> Recently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and&nbsp;Volkswagen’s&nbsp;(VOW3. Germany), to name a few.</p><p><blockquote>当然，最近，特斯拉的一些利润率一直处于行业领先地位，考虑到这些汽车的受欢迎程度以及该公司没有其老竞争对手面临的养老金义务，这并不奇怪。第三季度毛利率超过通用汽车、福特汽车(F)和大众汽车(VOW3.Germany)等。</blockquote></p><p> Longer-term margins are hard to predict, though Trainer told <i>Barron’s</i> he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.</p><p><blockquote>尽管Trainer表示，长期利润率很难预测<i>巴伦周刊</i>他认为他的假设是公平的。它们取决于软件销售（所有汽车制造商都提供可以通过订阅出售的软件功能）以及电池成本等因素。</blockquote></p><p> “Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.</p><p><blockquote>“综合起来：特斯拉提供的风险/回报很差，”特雷纳写道。</blockquote></p><p> His arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.</p><p><blockquote>他的论点不太可能动摇许多关注该股的多头。有14名分析师，几乎占彭博社44条赛道的三分之一，他们的目标价对特斯拉的估值为1万亿美元或以上。</blockquote></p><p> The bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.</p><p><blockquote>看涨者认为，特斯拉是电动汽车的领导者，在可预见的未来，其销量和产量将以平均每年50%的速度增长。他们还相信电动汽车将比传统汽车更有利可图，特斯拉将保持其成本领先地位。许多看涨者还认为，特斯拉的储电业务，加上如果成功开发自动驾驶汽车，它可能推出的机器人出租车业务，将产生可观的销售额。</blockquote></p><p> Time will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.</p><p><blockquote>时间会证明谁是对的。鉴于特斯拉的强劲业绩，公牛队这些天感觉很好。空头们目瞪口呆地看着该股的估值，该估值基本上与全球所有传统汽车制造商的估值总和相当。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</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\">\nTesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-05 19:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.</p><p><blockquote>特斯拉的市值最近远远超过1万亿美元，但独立投资研究公司New Constructs认为，该公司的估值被高估了约1万亿美元。该公司首席执行官David Trainer表示，特斯拉股价可能会下跌88%，至每股约150美元。</blockquote></p><p> His argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.</p><p><blockquote>他的论点主要基于数学，这并不是特斯拉（股票代码：TSLA）投资者必须权衡的第一个极端熊市或牛市案例。</blockquote></p><p> Tesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the&nbsp;S&amp;P 500&nbsp;advanced 0.4% and the&nbsp;Dow Jones Industrial Average&nbsp;finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company&nbsp;Hertz&nbsp;(HTZZ) have sent the stock through the roof.</p><p><blockquote>特斯拉股价在过去一个月上涨了约57%，在周四下午上涨1.3%后，周五盘前交易中几乎没有变化，而标准普尔500指数上涨0.4%，道琼斯工业平均指数收盘下跌0.1%。强劲的第三季度交付量、盈利以及向汽车租赁公司赫兹(HTZZ)出售10万辆汽车，使该股股价飙升。</blockquote></p><p> Today, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.</p><p><blockquote>如今，特斯拉的身价约为1.2万亿美元——一位培训师称这个数字毫无意义。特斯拉没有立即回应置评请求。</blockquote></p><p> “The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than&nbsp;Apple&nbsp;[AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.</p><p><blockquote>Trainer在周四的一份报告中写道：“1.2万亿美元的估值意味着特斯拉拥有整个全球乘用电动汽车市场的118%，到2030年利润将超过苹果[AAPL]。”他的工作着眼于公司必须实现什么样的销售额和收益才能达到那么高的价值。</blockquote></p><p> Trainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.</p><p><blockquote>Trainer认为，特斯拉必须在2030年销售近3100万辆汽车才能证明当前估值的合理性。根据国际能源署的数据，这超过了他对整个行业产量的预期。IEA 2021年电动汽车展望的基本情景预计，到本世纪末，全球电动汽车年销量约为2800万辆。</blockquote></p><p> To be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his <a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">goal for EVs</a> to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.</p><p><blockquote>可以肯定的是，IEA的报告是在四月份发布的，当时许多汽车制造商承诺在汽车电气化和电池产能上投入数十亿美元。八月，乔·拜登总统宣布了他的<a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">电动汽车的目标</a>到2030年占新车销量的50%。IEA的报告包括了到2030年全球每年销售约4700万辆电动汽车的最佳情景。</blockquote></p><p> There are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.</p><p><blockquote>当然，也有看好特斯拉的人，他们中的大多数人不相信特斯拉到2030年每年会售出3100万辆汽车。摩根士丹利(Morgan Stanley)的亚当·乔纳斯(Adam Jonas)将该股评级为买入，目标价为1,200美元，预计届时年销量约为800万辆。</blockquote></p><p> Jonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors&nbsp;(GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.</p><p><blockquote>Jonas认为，特斯拉将比传统汽车制造商更有利可图。但Trainer假设特斯拉的营业利润率将与通用汽车(GM)持平。他表示，特斯拉售出3100万辆汽车，这可能意味着2030年营业利润将达到1310亿美元，高于苹果目前超过1000亿美元的收入。</blockquote></p><p> But if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.</p><p><blockquote>但Trainer表示，如果Jonas对特斯拉2030年销售800万辆汽车的看涨期权是正确的，假设Elon Musk的公司仅与通用8.5%的税后净营业利润率相当，那么每年将产生约300亿美元的收益。</blockquote></p><p> Recently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and&nbsp;Volkswagen’s&nbsp;(VOW3. Germany), to name a few.</p><p><blockquote>当然，最近，特斯拉的一些利润率一直处于行业领先地位，考虑到这些汽车的受欢迎程度以及该公司没有其老竞争对手面临的养老金义务，这并不奇怪。第三季度毛利率超过通用汽车、福特汽车(F)和大众汽车(VOW3.Germany)等。</blockquote></p><p> Longer-term margins are hard to predict, though Trainer told <i>Barron’s</i> he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.</p><p><blockquote>尽管Trainer表示，长期利润率很难预测<i>巴伦周刊</i>他认为他的假设是公平的。它们取决于软件销售（所有汽车制造商都提供可以通过订阅出售的软件功能）以及电池成本等因素。</blockquote></p><p> “Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.</p><p><blockquote>“综合起来：特斯拉提供的风险/回报很差，”特雷纳写道。</blockquote></p><p> His arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.</p><p><blockquote>他的论点不太可能动摇许多关注该股的多头。有14名分析师，几乎占彭博社44条赛道的三分之一，他们的目标价对特斯拉的估值为1万亿美元或以上。</blockquote></p><p> The bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.</p><p><blockquote>看涨者认为，特斯拉是电动汽车的领导者，在可预见的未来，其销量和产量将以平均每年50%的速度增长。他们还相信电动汽车将比传统汽车更有利可图，特斯拉将保持其成本领先地位。许多看涨者还认为，特斯拉的储电业务，加上如果成功开发自动驾驶汽车，它可能推出的机器人出租车业务，将产生可观的销售额。</blockquote></p><p> Time will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.</p><p><blockquote>时间会证明谁是对的。鉴于特斯拉的强劲业绩，公牛队这些天感觉很好。空头们目瞪口呆地看着该股的估值，该估值基本上与全球所有传统汽车制造商的估值总和相当。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-overvalued-1-trillion-51636053056?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-overvalued-1-trillion-51636053056?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180620689","content_text":"Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.\nHis argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.\nTesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the S&P 500 advanced 0.4% and the Dow Jones Industrial Average finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company Hertz (HTZZ) have sent the stock through the roof.\nToday, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.\n“The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than Apple [AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.\nTrainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.\nTo be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his goal for EVs to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.\nThere are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.\nJonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors (GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.\nBut if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.\nRecently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and Volkswagen’s (VOW3. Germany), to name a few.\nLonger-term margins are hard to predict, though Trainer told Barron’s he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.\n“Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.\nHis arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.\nThe bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.\nTime will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2092,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":854591447,"gmtCreate":1635466572944,"gmtModify":1635466710763,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Facebook -&gt; Meta.. that’s gonna take some getting used to","listText":"Facebook -&gt; Meta.. that’s gonna take some getting used to","text":"Facebook -> Meta.. that’s gonna take some getting used to","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/854591447","repostId":"2179293785","repostType":4,"isVote":1,"tweetType":1,"viewCount":3305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856723777,"gmtCreate":1635214616964,"gmtModify":1635214617204,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"There is no stopping Tesla!","listText":"There is no stopping Tesla!","text":"There is no stopping Tesla!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/856723777","repostId":"1182426097","repostType":4,"isVote":1,"tweetType":1,"viewCount":3144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":858568578,"gmtCreate":1635084549576,"gmtModify":1635084549761,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Market leader calls the shots!","listText":"Market leader calls the shots!","text":"Market leader calls the shots!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/858568578","repostId":"2177448205","repostType":4,"isVote":1,"tweetType":1,"viewCount":2613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829230408,"gmtCreate":1633510080928,"gmtModify":1633510081160,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"💪🏻💪🏻💪🏻","listText":"💪🏻💪🏻💪🏻","text":"💪🏻💪🏻💪🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829230408","repostId":"1143781634","repostType":4,"isVote":1,"tweetType":1,"viewCount":3442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820508845,"gmtCreate":1633398975561,"gmtModify":1633398992269,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Just another hiccup for Facebook.","listText":"Just another hiccup for Facebook.","text":"Just another hiccup for Facebook.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820508845","repostId":"1143781634","repostType":4,"isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864577620,"gmtCreate":1633135701292,"gmtModify":1633135701570,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"I am watching you Pinterest!","listText":"I am watching you Pinterest!","text":"I am watching you Pinterest!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/864577620","repostId":"2172963995","repostType":4,"isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861051070,"gmtCreate":1632444332190,"gmtModify":1632724594765,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Seems like no&nbsp;news is bad enough to hamper the optimism in the market!","listText":"Seems like no&nbsp;news is bad enough to hamper the optimism in the market!","text":"Seems like no news is bad enough to hamper the optimism in the market!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/861051070","repostId":"2169240695","repostType":4,"isVote":1,"tweetType":1,"viewCount":585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863956837,"gmtCreate":1632354984329,"gmtModify":1632801027114,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"💪🏻💪🏻💪🏻","listText":"💪🏻💪🏻💪🏻","text":"💪🏻💪🏻💪🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/863956837","repostId":"2169650271","repostType":4,"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886604455,"gmtCreate":1631583589777,"gmtModify":1631890035984,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"A very sensible read.","listText":"A very sensible read.","text":"A very sensible read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886604455","repostId":"2166303725","repostType":4,"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881006898,"gmtCreate":1631278924614,"gmtModify":1631890035989,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Defying the odds","listText":"Defying the odds","text":"Defying the odds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/881006898","repostId":"1160544799","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816041374,"gmtCreate":1630457468798,"gmtModify":1631884764477,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","text":"$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/816041374","isVote":1,"tweetType":1,"viewCount":1265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813269874,"gmtCreate":1630205595998,"gmtModify":1704957009614,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","listText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","text":"Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/813269874","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","kind":"news","pubTimestamp":1630111537,"share":"https://www.laohu8.com/m/news/1184130616?lang=zh_CN&edition=full","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><div> Does crime pay? Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p><p><blockquote><div>犯罪有报酬吗？在20世纪90年代和21世纪初占据头条新闻的最有权势的高调企业高管中，伯纳德·埃伯斯从他的同龄人中脱颖而出——身高6英尺4英寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</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\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-28 08:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Does crime pay? Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p><p><blockquote><div>犯罪有报酬吗？在20世纪90年代和21世纪初占据头条新闻的最有权势的高调企业高管中，伯纳德·埃伯斯从他的同龄人中脱颖而出——身高6英尺4英寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HRB":"H&R布洛克税务"},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1,"symbols_score_info":{"HRB":0.9}},"isVote":1,"tweetType":1,"viewCount":898,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834025878,"gmtCreate":1629763514094,"gmtModify":1631890035997,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"//@1moretime:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834025878","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","kind":"news","pubTimestamp":1629509852,"share":"https://www.laohu8.com/m/news/1107075259?lang=zh_CN&edition=full","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-21 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834022863,"gmtCreate":1629763446852,"gmtModify":1631890035997,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","listText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","text":"Well I think it is subjective and differs from person to person. //@Short:Penny stock is like gambling in a casino. Always fun","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834022863","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","kind":"news","pubTimestamp":1629450202,"share":"https://www.laohu8.com/m/news/1172699620?lang=zh_CN&edition=full","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</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\">\nPenny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Kiplinger</strong><span class=\"h-time small\">2021-08-20 17:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Kiplinger</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":{"IDCBY":"工商银行ADR","NTDOY":"任天堂","TCEHY":"腾讯控股ADR"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1,"symbols_score_info":{"NTDOY":0.9,"TCEHY":0.9,"IDCBY":0.9}},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832109063,"gmtCreate":1629595858452,"gmtModify":1631890036006,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087890904031420","idStr":"4087890904031420"},"themes":[],"htmlText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/832109063","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","kind":"news","pubTimestamp":1629509852,"share":"https://www.laohu8.com/m/news/1107075259?lang=zh_CN&edition=full","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-21 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":832109063,"gmtCreate":1629595858452,"gmtModify":1631890036006,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/832109063","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","kind":"news","pubTimestamp":1629509852,"share":"https://www.laohu8.com/m/news/1107075259?lang=zh_CN&edition=full","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-21 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":864577620,"gmtCreate":1633135701292,"gmtModify":1633135701570,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"I am watching you Pinterest!","listText":"I am watching you Pinterest!","text":"I am watching you Pinterest!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/864577620","repostId":"2172963995","repostType":4,"isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861051070,"gmtCreate":1632444332190,"gmtModify":1632724594765,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Seems like no&nbsp;news is bad enough to hamper the optimism in the market!","listText":"Seems like no&nbsp;news is bad enough to hamper the optimism in the market!","text":"Seems like no news is bad enough to hamper the optimism in the market!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/861051070","repostId":"2169240695","repostType":4,"isVote":1,"tweetType":1,"viewCount":585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":854591447,"gmtCreate":1635466572944,"gmtModify":1635466710763,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Facebook -&gt; Meta.. that’s gonna take some getting used to","listText":"Facebook -&gt; Meta.. that’s gonna take some getting used to","text":"Facebook -> Meta.. that’s gonna take some getting used to","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/854591447","repostId":"2179293785","repostType":4,"isVote":1,"tweetType":1,"viewCount":3305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":816041374,"gmtCreate":1630457468798,"gmtModify":1631884764477,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","text":"$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/816041374","isVote":1,"tweetType":1,"viewCount":1265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813269874,"gmtCreate":1630205595998,"gmtModify":1704957009614,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","listText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","text":"Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/813269874","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","kind":"news","pubTimestamp":1630111537,"share":"https://www.laohu8.com/m/news/1184130616?lang=zh_CN&edition=full","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><div> Does crime pay? Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p><p><blockquote><div>犯罪有报酬吗？在20世纪90年代和21世纪初占据头条新闻的最有权势的高调企业高管中，伯纳德·埃伯斯从他的同龄人中脱颖而出——身高6英尺4英寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</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\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers<blockquote>华尔街罪与罚：伯纳德·埃伯斯和世通的严重错误数字</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-28 08:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Does crime pay? Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p><p><blockquote><div>犯罪有报酬吗？在20世纪90年代和21世纪初占据头条新闻的最有权势的高调企业高管中，伯纳德·埃伯斯从他的同龄人中脱颖而出——身高6英尺4英寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HRB":"H&R布洛克税务"},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1,"symbols_score_info":{"HRB":0.9}},"isVote":1,"tweetType":1,"viewCount":898,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":847605213,"gmtCreate":1636510517426,"gmtModify":1636511190753,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"C’mon! Give us something to cheer about&nbsp;","listText":"C’mon! Give us something to cheer about&nbsp;","text":"C’mon! Give us something to cheer about","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/847605213","repostId":"1179672442","repostType":4,"isVote":1,"tweetType":1,"viewCount":2776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":886604455,"gmtCreate":1631583589777,"gmtModify":1631890035984,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"A very sensible read.","listText":"A very sensible read.","text":"A very sensible read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886604455","repostId":"2166303725","repostType":4,"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881006898,"gmtCreate":1631278924614,"gmtModify":1631890035989,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Defying the odds","listText":"Defying the odds","text":"Defying the odds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/881006898","repostId":"1160544799","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831962377,"gmtCreate":1629280750399,"gmtModify":1631890036006,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"This is serious business!","listText":"This is serious business!","text":"This is serious business!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/831962377","repostId":"1113611040","repostType":4,"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":845827717,"gmtCreate":1636330147468,"gmtModify":1636330147709,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"I love good news!","listText":"I love good news!","text":"I love good news!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/845827717","repostId":"1173813098","repostType":4,"isVote":1,"tweetType":1,"viewCount":2988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856723777,"gmtCreate":1635214616964,"gmtModify":1635214617204,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"There is no stopping Tesla!","listText":"There is no stopping Tesla!","text":"There is no stopping Tesla!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/856723777","repostId":"1182426097","repostType":4,"isVote":1,"tweetType":1,"viewCount":3144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863956837,"gmtCreate":1632354984329,"gmtModify":1632801027114,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"💪🏻💪🏻💪🏻","listText":"💪🏻💪🏻💪🏻","text":"💪🏻💪🏻💪🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/863956837","repostId":"2169650271","repostType":4,"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":605592940,"gmtCreate":1639187497003,"gmtModify":1639187497221,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Why?? Again?!","listText":"Why?? Again?!","text":"Why?? Again?!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605592940","repostId":"1133027099","repostType":4,"repost":{"id":"1133027099","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639152670,"share":"https://www.laohu8.com/m/news/1133027099?lang=zh_CN&edition=full","pubTime":"2021-12-11 00:11","market":"us","language":"en","title":"Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd股价早盘下跌超过5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133027099","media":"Tiger Newspress","summary":"Sea Ltd stock dropped more than 5% in morning trading.","content":"<p>Sea Ltd stock dropped more than 5% in morning trading.</p><p><blockquote>Sea Ltd股价早盘下跌超过5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6295277426435ac2c7135ba73dfbdef\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></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>Sea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd股价早盘下跌超过5%</blockquote></title>\n<style 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#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\">\nSea Ltd stock dropped more than 5% in morning trading<blockquote>Sea Ltd股价早盘下跌超过5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-11 00:11</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Sea Ltd stock dropped more than 5% in morning trading.</p><p><blockquote>Sea Ltd股价早盘下跌超过5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6295277426435ac2c7135ba73dfbdef\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133027099","content_text":"Sea Ltd stock dropped more than 5% in morning trading.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":2252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820508845,"gmtCreate":1633398975561,"gmtModify":1633398992269,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Just another hiccup for Facebook.","listText":"Just another hiccup for Facebook.","text":"Just another hiccup for Facebook.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820508845","repostId":"1143781634","repostType":4,"isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898134973,"gmtCreate":1628477217292,"gmtModify":1631883992972,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Hope they will do a thorough investigation and not just let this fade over time..","listText":"Hope they will do a thorough investigation and not just let this fade over time..","text":"Hope they will do a thorough investigation and not just let this fade over time..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/898134973","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":858568578,"gmtCreate":1635084549576,"gmtModify":1635084549761,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Market leader calls the shots!","listText":"Market leader calls the shots!","text":"Market leader calls the shots!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/858568578","repostId":"2177448205","repostType":4,"isVote":1,"tweetType":1,"viewCount":2613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":891538516,"gmtCreate":1628397905935,"gmtModify":1631890036009,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Wow.. this is a good read.","listText":"Wow.. this is a good read.","text":"Wow.. this is a good read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/891538516","repostId":"1119792130","repostType":4,"isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":842129109,"gmtCreate":1636157017893,"gmtModify":1636157018178,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"Such a bold piece!","listText":"Such a bold piece!","text":"Such a bold piece!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842129109","repostId":"1180620689","repostType":4,"repost":{"id":"1180620689","kind":"news","pubTimestamp":1636112077,"share":"https://www.laohu8.com/m/news/1180620689?lang=zh_CN&edition=full","pubTime":"2021-11-05 19:34","market":"us","language":"en","title":"Tesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180620689","media":"Barrons","summary":"Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-r","content":"<p>Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.</p><p><blockquote>特斯拉的市值最近远远超过1万亿美元，但独立投资研究公司New Constructs认为，该公司的估值被高估了约1万亿美元。该公司首席执行官David Trainer表示，特斯拉股价可能会下跌88%，至每股约150美元。</blockquote></p><p> His argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.</p><p><blockquote>他的论点主要基于数学，这并不是特斯拉（股票代码：TSLA）投资者必须权衡的第一个极端熊市或牛市案例。</blockquote></p><p> Tesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the&nbsp;S&amp;P 500&nbsp;advanced 0.4% and the&nbsp;Dow Jones Industrial Average&nbsp;finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company&nbsp;Hertz&nbsp;(HTZZ) have sent the stock through the roof.</p><p><blockquote>特斯拉股价在过去一个月上涨了约57%，在周四下午上涨1.3%后，周五盘前交易中几乎没有变化，而标准普尔500指数上涨0.4%，道琼斯工业平均指数收盘下跌0.1%。强劲的第三季度交付量、盈利以及向汽车租赁公司赫兹(HTZZ)出售10万辆汽车，使该股股价飙升。</blockquote></p><p> Today, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.</p><p><blockquote>如今，特斯拉的身价约为1.2万亿美元——一位培训师称这个数字毫无意义。特斯拉没有立即回应置评请求。</blockquote></p><p> “The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than&nbsp;Apple&nbsp;[AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.</p><p><blockquote>Trainer在周四的一份报告中写道：“1.2万亿美元的估值意味着特斯拉拥有整个全球乘用电动汽车市场的118%，到2030年利润将超过苹果[AAPL]。”他的工作着眼于公司必须实现什么样的销售额和收益才能达到那么高的价值。</blockquote></p><p> Trainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.</p><p><blockquote>Trainer认为，特斯拉必须在2030年销售近3100万辆汽车才能证明当前估值的合理性。根据国际能源署的数据，这超过了他对整个行业产量的预期。IEA 2021年电动汽车展望的基本情景预计，到本世纪末，全球电动汽车年销量约为2800万辆。</blockquote></p><p> To be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his <a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">goal for EVs</a> to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.</p><p><blockquote>可以肯定的是，IEA的报告是在四月份发布的，当时许多汽车制造商承诺在汽车电气化和电池产能上投入数十亿美元。八月，乔·拜登总统宣布了他的<a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">电动汽车的目标</a>到2030年占新车销量的50%。IEA的报告包括了到2030年全球每年销售约4700万辆电动汽车的最佳情景。</blockquote></p><p> There are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.</p><p><blockquote>当然，也有看好特斯拉的人，他们中的大多数人不相信特斯拉到2030年每年会售出3100万辆汽车。摩根士丹利(Morgan Stanley)的亚当·乔纳斯(Adam Jonas)将该股评级为买入，目标价为1,200美元，预计届时年销量约为800万辆。</blockquote></p><p> Jonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors&nbsp;(GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.</p><p><blockquote>Jonas认为，特斯拉将比传统汽车制造商更有利可图。但Trainer假设特斯拉的营业利润率将与通用汽车(GM)持平。他表示，特斯拉售出3100万辆汽车，这可能意味着2030年营业利润将达到1310亿美元，高于苹果目前超过1000亿美元的收入。</blockquote></p><p> But if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.</p><p><blockquote>但Trainer表示，如果Jonas对特斯拉2030年销售800万辆汽车的看涨期权是正确的，假设Elon Musk的公司仅与通用8.5%的税后净营业利润率相当，那么每年将产生约300亿美元的收益。</blockquote></p><p> Recently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and&nbsp;Volkswagen’s&nbsp;(VOW3. Germany), to name a few.</p><p><blockquote>当然，最近，特斯拉的一些利润率一直处于行业领先地位，考虑到这些汽车的受欢迎程度以及该公司没有其老竞争对手面临的养老金义务，这并不奇怪。第三季度毛利率超过通用汽车、福特汽车(F)和大众汽车(VOW3.Germany)等。</blockquote></p><p> Longer-term margins are hard to predict, though Trainer told <i>Barron’s</i> he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.</p><p><blockquote>尽管Trainer表示，长期利润率很难预测<i>巴伦周刊</i>他认为他的假设是公平的。它们取决于软件销售（所有汽车制造商都提供可以通过订阅出售的软件功能）以及电池成本等因素。</blockquote></p><p> “Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.</p><p><blockquote>“综合起来：特斯拉提供的风险/回报很差，”特雷纳写道。</blockquote></p><p> His arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.</p><p><blockquote>他的论点不太可能动摇许多关注该股的多头。有14名分析师，几乎占彭博社44条赛道的三分之一，他们的目标价对特斯拉的估值为1万亿美元或以上。</blockquote></p><p> The bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.</p><p><blockquote>看涨者认为，特斯拉是电动汽车的领导者，在可预见的未来，其销量和产量将以平均每年50%的速度增长。他们还相信电动汽车将比传统汽车更有利可图，特斯拉将保持其成本领先地位。许多看涨者还认为，特斯拉的储电业务，加上如果成功开发自动驾驶汽车，它可能推出的机器人出租车业务，将产生可观的销售额。</blockquote></p><p> Time will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.</p><p><blockquote>时间会证明谁是对的。鉴于特斯拉的强劲业绩，公牛队这些天感觉很好。空头们目瞪口呆地看着该股的估值，该估值基本上与全球所有传统汽车制造商的估值总和相当。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</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\">\nTesla Stock Is Overvalued by $1 Trillion, Analyst Says. We Looked at the Math.<blockquote>分析师表示，特斯拉股票被高估了1万亿美元。我们看了数学。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-05 19:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.</p><p><blockquote>特斯拉的市值最近远远超过1万亿美元，但独立投资研究公司New Constructs认为，该公司的估值被高估了约1万亿美元。该公司首席执行官David Trainer表示，特斯拉股价可能会下跌88%，至每股约150美元。</blockquote></p><p> His argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.</p><p><blockquote>他的论点主要基于数学，这并不是特斯拉（股票代码：TSLA）投资者必须权衡的第一个极端熊市或牛市案例。</blockquote></p><p> Tesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the&nbsp;S&amp;P 500&nbsp;advanced 0.4% and the&nbsp;Dow Jones Industrial Average&nbsp;finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company&nbsp;Hertz&nbsp;(HTZZ) have sent the stock through the roof.</p><p><blockquote>特斯拉股价在过去一个月上涨了约57%，在周四下午上涨1.3%后，周五盘前交易中几乎没有变化，而标准普尔500指数上涨0.4%，道琼斯工业平均指数收盘下跌0.1%。强劲的第三季度交付量、盈利以及向汽车租赁公司赫兹(HTZZ)出售10万辆汽车，使该股股价飙升。</blockquote></p><p> Today, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.</p><p><blockquote>如今，特斯拉的身价约为1.2万亿美元——一位培训师称这个数字毫无意义。特斯拉没有立即回应置评请求。</blockquote></p><p> “The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than&nbsp;Apple&nbsp;[AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.</p><p><blockquote>Trainer在周四的一份报告中写道：“1.2万亿美元的估值意味着特斯拉拥有整个全球乘用电动汽车市场的118%，到2030年利润将超过苹果[AAPL]。”他的工作着眼于公司必须实现什么样的销售额和收益才能达到那么高的价值。</blockquote></p><p> Trainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.</p><p><blockquote>Trainer认为，特斯拉必须在2030年销售近3100万辆汽车才能证明当前估值的合理性。根据国际能源署的数据，这超过了他对整个行业产量的预期。IEA 2021年电动汽车展望的基本情景预计，到本世纪末，全球电动汽车年销量约为2800万辆。</blockquote></p><p> To be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his <a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">goal for EVs</a> to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.</p><p><blockquote>可以肯定的是，IEA的报告是在四月份发布的，当时许多汽车制造商承诺在汽车电气化和电池产能上投入数十亿美元。八月，乔·拜登总统宣布了他的<a href=\"https://www.marketwatch.com/articles/tesla-musk-biden-ev-stock-51628202850\" target=\"_blank\">电动汽车的目标</a>到2030年占新车销量的50%。IEA的报告包括了到2030年全球每年销售约4700万辆电动汽车的最佳情景。</blockquote></p><p> There are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.</p><p><blockquote>当然，也有看好特斯拉的人，他们中的大多数人不相信特斯拉到2030年每年会售出3100万辆汽车。摩根士丹利(Morgan Stanley)的亚当·乔纳斯(Adam Jonas)将该股评级为买入，目标价为1,200美元，预计届时年销量约为800万辆。</blockquote></p><p> Jonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors&nbsp;(GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.</p><p><blockquote>Jonas认为，特斯拉将比传统汽车制造商更有利可图。但Trainer假设特斯拉的营业利润率将与通用汽车(GM)持平。他表示，特斯拉售出3100万辆汽车，这可能意味着2030年营业利润将达到1310亿美元，高于苹果目前超过1000亿美元的收入。</blockquote></p><p> But if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.</p><p><blockquote>但Trainer表示，如果Jonas对特斯拉2030年销售800万辆汽车的看涨期权是正确的，假设Elon Musk的公司仅与通用8.5%的税后净营业利润率相当，那么每年将产生约300亿美元的收益。</blockquote></p><p> Recently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and&nbsp;Volkswagen’s&nbsp;(VOW3. Germany), to name a few.</p><p><blockquote>当然，最近，特斯拉的一些利润率一直处于行业领先地位，考虑到这些汽车的受欢迎程度以及该公司没有其老竞争对手面临的养老金义务，这并不奇怪。第三季度毛利率超过通用汽车、福特汽车(F)和大众汽车(VOW3.Germany)等。</blockquote></p><p> Longer-term margins are hard to predict, though Trainer told <i>Barron’s</i> he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.</p><p><blockquote>尽管Trainer表示，长期利润率很难预测<i>巴伦周刊</i>他认为他的假设是公平的。它们取决于软件销售（所有汽车制造商都提供可以通过订阅出售的软件功能）以及电池成本等因素。</blockquote></p><p> “Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.</p><p><blockquote>“综合起来：特斯拉提供的风险/回报很差，”特雷纳写道。</blockquote></p><p> His arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.</p><p><blockquote>他的论点不太可能动摇许多关注该股的多头。有14名分析师，几乎占彭博社44条赛道的三分之一，他们的目标价对特斯拉的估值为1万亿美元或以上。</blockquote></p><p> The bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.</p><p><blockquote>看涨者认为，特斯拉是电动汽车的领导者，在可预见的未来，其销量和产量将以平均每年50%的速度增长。他们还相信电动汽车将比传统汽车更有利可图，特斯拉将保持其成本领先地位。许多看涨者还认为，特斯拉的储电业务，加上如果成功开发自动驾驶汽车，它可能推出的机器人出租车业务，将产生可观的销售额。</blockquote></p><p> Time will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.</p><p><blockquote>时间会证明谁是对的。鉴于特斯拉的强劲业绩，公牛队这些天感觉很好。空头们目瞪口呆地看着该股的估值，该估值基本上与全球所有传统汽车制造商的估值总和相当。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-overvalued-1-trillion-51636053056?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-overvalued-1-trillion-51636053056?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180620689","content_text":"Tesla‘s market capitalization recently moved well past $1 trillion, but the independent investment-research firm New Constructs believes the company is overvalued by roughly $1 trillion of that. The firm’s CEO, David Trainer, says Tesla shares could fall as much as 88%, to roughly $150 a share.\nHis argument, which isn’t the first extreme bear or bull case Tesla (ticker: TSLA) investors have had to weigh, is mainly based on math.\nTesla stock, which has risen about 57% over the past month, was little changed in premarket trading Friday after gaining up 1.3% Thursday afternoon, while the S&P 500 advanced 0.4% and the Dow Jones Industrial Average finished off 0.1%. Strong third-quarter deliveries, earnings, and a sale of 100,000 vehicles to the rental-car company Hertz (HTZZ) have sent the stock through the roof.\nToday, Tesla is worth roughly $1.2 trillion–a figure Trainer says makes no sense. Tesla didn’t immediately respond to a request for comment.\n“The $1.2 trillion valuation implies Tesla owns 118% of the entire global passenger EV market and becomes more profitable than Apple [AAPL] by 2030,” wrote Trainer in a Thursday report. His work looked at what kind of sales and earnings the company would have to achieve to be worth that much.\nTrainer believes Tesla would have to sell almost 31 million vehicles in 2030 to justify the current valuation. That is more than he expects the entire industry to produce, based on figures from the International Energy Agency. The base case in the IEA’s 2021 outlook for electric vehicles projects annual global sales of about 28 million EVs at the end of the decade.\nTo be sure, that IEA report was published in April, before many auto makers committed to spending billions of dollars on vehicle electrification and battery-production capacity. It was in August that President Joe Biden announced his goal for EVs to account for 50% of new-car sales by 2030. And the IEA report includes a best-case scenario with about 47 million EVs sold around the world annually by 2030.\nThere are, of course, Tesla bulls, and most of them don’t believe Tesla is going to sell 31 million cars a year by 2030. Morgan Stanley’s Adam Jonas, who rates the stock at Buy and has a $1,200 price target for shares, predicts annual sales of about 8 million units by then.\nJonas believes Tesla will be more profitable than traditional auto makers. But Trainer assumes that Tesla will have operating profit margins in line with those of General Motors (GM). With 31 million vehicles sold, that might mean Tesla earns $131 billion in 2030 operating profit, higher than the $100 billion-plus Apple is pulling in now, he said.\nBut if Jonas’s call for Tesla to sell 8 million vehicles in 2030 is correct, Trainer said, that would yield earnings of about $30 billion annually, assuming Elon Musk’s company only matches GM’s net operating after-tax profit margin of 8.5%.\nRecently, of course, some of Tesla’s profit margins have been industry-leading, which is no surprise given the popularity of the vehicles and the fact that the company doesn’t have the pension obligations its older rivals face. Third-quarter gross margins exceeded GM’s,Ford Motor‘s (F), and Volkswagen’s (VOW3. Germany), to name a few.\nLonger-term margins are hard to predict, though Trainer told Barron’s he thinks his assumption is fair. They depend on factors such as software sales—all auto makers are offering software-enabled features that can be sold on subscriptions—as well as battery costs.\n“Putting it all together: Tesla provides poor risk/reward,” Trainer wrote.\nHis arguments are unlikely to sway the many bulls who follow the stock. There are 14 analysts, almost one-third of the 44 Bloomberg tracks, with target prices that value Tesla at $1 trillion or more.\nThe bulls believe Tesla is the EV leader and will increase its sales and production volume at 50% a year on average for the foreseeable future. They also believe EVs will be more profitable than traditional vehicles and that Tesla will maintain its cost leadership. Many bulls also believe that Tesla’s power-storage business, plus a robotaxi operation it could launch if it succeeds in developing self-driving cars, will generate significant sales.\nTime will tell who is right. The bulls are feeling good these days given Tesla’s strong results. And the bears are staring agape at the stock’s valuation, which essentially matches all of the world’s traditional auto makers combined.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2092,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829230408,"gmtCreate":1633510080928,"gmtModify":1633510081160,"author":{"id":"4087890904031420","authorId":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420","authorIdStr":"4087890904031420"},"themes":[],"htmlText":"💪🏻💪🏻💪🏻","listText":"💪🏻💪🏻💪🏻","text":"💪🏻💪🏻💪🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829230408","repostId":"1143781634","repostType":4,"isVote":1,"tweetType":1,"viewCount":3442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}