Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy_老虎社区_美港股上老虎

Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy

real money2021-03-30

See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it ...

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Sumei
·2021-03-30
The retail investors are always powerless against the big hedge funds as we really do not have any power to move the markets. In the case of Archegos Capital, all it took was for the banks to unload big blocks of shares which brought the stock prices crashing down.
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Rasesh
·2021-03-30
Riggeddddd
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Retxed183
·2021-03-30
Missssion
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Jellywonka
·2021-03-30
Like and comment
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Andaroo
·2021-03-30
AMC to the moon.Jim Cramer talks nonsense
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lukecyb
·2021-03-30
Rigggged
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MightyPooP
·2021-03-30
That's what they all want u to think. There's always secrets they don't want the public to know.
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- Azac:
  Indeed
  2021-03-30
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- Horentine:
  lmao the GME saga already proved that the market is rigged and the SEC is sleeping on the wheel
  2021-03-30
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If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it ...\n\n<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">网页链接</a>\n\n</div>\n","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 16:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO>real money</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it ...\n\n<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","article_id":"1132997728","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","pubTimestamp":1617092906,"columns":[],"sourceInfo":{"source_id":"lsy1611201145385","name":"Real Money"},"weMediaInfo":null,"summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","collect":0,"end_time":0,"defaultTopTitle":"thestreet.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"吉姆·克莱默：这场比赛没有被操纵，没有巨大的阴谋","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. 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It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":355418467,"gmtCreate":1617094959259,"gmtModify":1634522693967,"author":{"id":"3566259831309087","authorId":"3566259831309087","name":"Sumei","avatar":"https://static.tigerbbs.com/ae0a2af1baf6b07a87ffdf41ea17959a","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3566259831309087","authorIdStr":"3566259831309087"},"htmlText":"The retail investors are always powerless against the big hedge funds as we really do not have any power to move the markets. 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In the case of Archegos Capital, all it took was for the banks to unload big blocks of shares which brought the stock prices crashing down.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355418467","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355418295,"gmtCreate":1617094945417,"gmtModify":1634522694088,"author":{"id":"3574901116565890","authorId":"3574901116565890","name":"Rasesh","avatar":"https://static.tigerbbs.com/911e9eb26ce3e32de8039f51e3c962ce","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3574901116565890","authorIdStr":"3574901116565890"},"htmlText":"Riggeddddd","listText":"Riggeddddd","text":"Riggeddddd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355418295","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355411776,"gmtCreate":1617094888795,"gmtModify":1634522694569,"author":{"id":"3571060865958359","authorId":"3571060865958359","name":"Retxed183","avatar":"https://static.tigerbbs.com/c86091eb56187447cd7d41aabe57cbeb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571060865958359","authorIdStr":"3571060865958359"},"htmlText":"Missssion","listText":"Missssion","text":"Missssion","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355411776","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355433501,"gmtCreate":1617093857703,"gmtModify":1634522696948,"author":{"id":"3570614147611531","authorId":"3570614147611531","name":"Jellywonka","avatar":"https://static.tigerbbs.com/b9774fac6cdbae1bac77d81d9922fb02","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3570614147611531","authorIdStr":"3570614147611531"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355433501","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355497895,"gmtCreate":1617093595217,"gmtModify":1634522698643,"author":{"id":"3575199303759784","authorId":"3575199303759784","name":"Andaroo","avatar":"https://static.tigerbbs.com/634c9b9f18158d4a4e497249bdbe8fd5","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3575199303759784","authorIdStr":"3575199303759784"},"htmlText":"AMC to the moon.Jim Cramer talks nonsense","listText":"AMC to the moon.Jim Cramer talks nonsense","text":"AMC to the moon.Jim Cramer talks nonsense","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355497895","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355496838,"gmtCreate":1617093140424,"gmtModify":1634522700257,"author":{"id":"3574850099281549","authorId":"3574850099281549","name":"lukecyb","avatar":"https://static.tigerbbs.com/86b31ee917e065ab961b2a500b7103d6","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3574850099281549","authorIdStr":"3574850099281549"},"htmlText":"Rigggged","listText":"Rigggged","text":"Rigggged","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355496838","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":355491730,"gmtCreate":1617093023520,"gmtModify":1634522701085,"author":{"id":"3575163551534398","authorId":"3575163551534398","name":"MightyPooP","avatar":"https://static.tigerbbs.com/aec66d00ca2b1f2b75412008d93edd14","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3575163551534398","authorIdStr":"3575163551534398"},"htmlText":"That's what they all want u to think. There's always secrets they don't want the public to know.","listText":"That's what they all want u to think. There's always secrets they don't want the public to know.","text":"That's what they all want u to think. There's always secrets they don't want the public to know.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/355491730","repostId":1132997728,"repostType":4,"repost":{"id":"1132997728","kind":"news","pubTimestamp":1617092906,"share":"https://www.laohu8.com/m/news/1132997728?lang=zh_CN&edition=full","pubTime":"2021-03-30 16:28","market":"us","language":"en","title":"Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132997728","media":"real money","summary":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Di","content":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>","source":"lsy1611201145385","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>Jim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</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\">\nJim Cramer: The Game Isn't Rigged, There's No Vast Conspiracy<blockquote>吉姆·克莱默：游戏没有被操纵，没有巨大的阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nreal money2021-03-30 16:28\n\n</h4>\n</header>\n<article>\nSee, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.<blockquote>你看，它一直都是被操纵的。如果这是你在看到维亚康姆哥伦比亚广播公司（VIAC）、探索频道（DISCA）、腾讯控股（TME）和百度（BIDU）的股票被压垮（有些甚至在开盘前）后的态度，那是完全可以理解的。很难想象有一家公司，一家名为Archegos的公司，你很可能从未听说过，可以通过利润率看涨期权压低所有这些股票以及更多股票。没错，一家对冲基金被允许从这么多不同的公司借这么多钱，显然，当它的一个头寸——维亚康姆哥伦比亚广播公司的股票——严重崩溃时，它的许多大头寸都崩溃了。</blockquote> That sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.<blockquote>这看起来确实被操纵了，对允许Archegos借钱的公司的影响也是如此。毕竟，哪家银行会让一家对冲基金借这么多钱，以至于无法偿还保证金贷款，更不用说一大堆大银行迅速出售抵押品以限制对自己底线的损害了。</blockquote> In reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.<blockquote>事实上，尽管银行和对冲基金显然在风险控制方面存在问题，但它并没有被操纵。此外，每家独立银行也很可能不知道Archegos可能遭受的损失程度，因此他们必须迅速采取行动，在损失进一步加深之前尽力挽救一切。见证今天维亚康姆哥伦比亚广播公司的进一步崩溃。</blockquote> But let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.<blockquote>但让我们回到第一个假设，即它“一直”都被操纵。从很多方面来说，Archegos的遭遇是许多在高点时价格高得令人难以置信的成长型股票遭遇的缩影。其中很多都是年轻投资者所拥有的，他们借钱投资热门股票，例如Unity U和DoorDash(DASH)和Twilio(TWLO)或Zoom(ZM)等股票，这些股票都是被大型股票轮动压垮的伟大公司的股票。华尔街基金获利了结并转移到其他地方。许多人开始相信，年轻投资者对市场的影响如此之大，以至于他们可以改变股票。看起来他们做到了，但也许是借来的钱，比如Archegos，甚至是高风险期权，看涨期权头寸因价格突然下跌而化为乌有。</blockquote> Of course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.<blockquote>当然，如果我没有提到游戏驿站(GME)的股票几乎是Archegos的镜像，那我就失职了。这家马马虎虎的视频游戏装备零售商的股价是如何涨到400美元的？当一家押注游戏驿站将下跌的对冲基金无法提供足够的抵押品时，经纪公司将对冲基金引入，基本上为对冲基金以及其他押注该股的人平仓。</blockquote> Once they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.<blockquote>一旦他们出局，游戏驿站就会从不可持续的高度迅速跌落。仍然有很多人认为游戏驿站的股票属于400美元左右，就像有人认为在不可持续的高度交易的伟大成长型股票有一天应该会回到这些水平一样。</blockquote> But that might not happen for years and years or at all.<blockquote>但这可能多年都不会发生，或者根本不会发生。</blockquote> Here's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"<blockquote>这就是为什么这一切都很重要。如果你认为这个游戏被操纵了，你很可能会把你的陈述放在抽屉里，然后说“管它呢，当这些股票回来时我会看看它。”</blockquote> That's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.<blockquote>不过，这是一个失败者的观点。这是许多年轻投资者在2000年和2001年采用的方法。幸运的是，这些公司中的许多都比当时好得多，尽管过多的SPAC开始挑战这一假设。</blockquote> I don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.<blockquote>我不想你这么做。我希望你保持专注，寻找机会，明白这个行业没有被操纵，只是在很多时候缺乏有效的自我监管或政府监管。</blockquote> But I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.<blockquote>但我认为Archegos事件会加速我在悲伤的五个阶段中最害怕的事情，最后一个阶段，接受。许多年轻人接受了他们的命运并离开了。那可不好。你必须时刻注意你的位置。被遗忘的位置是很少回来的位置。</blockquote> I can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.<blockquote>我不能改变你对索具的看法，以此来解释你可能经历的纸面损失。如果我当时做不到——我失败了——我现在也会失败。我只是敦促你保持冷静的头脑，理解伟大的重新开放摧毁了如此多的纯成长型股票，并认识到这并不是针对你的一些巨大阴谋。这只是提醒我，赚钱真的有多难，当我说把东西从桌子上拿走时，倾听是多么重要。我不是想伤害你。我只是想警告你。我觉得我没有做到这一点。是不是太晚了？不，这些股票会飙升。但是你必须卖掉一些东西，即使它是亏损的。然后你就可以重新开始，而不是放弃股市这个有史以来最伟大的财富创造者。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO\">real money</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ef60022b37415d7228406e308a8ba3c1","relate_stocks":{},"source_url":"https://realmoney.thestreet.com/jim-cramer/jim-cramer-the-game-isn-t-rigged-there-s-no-vast-conspiracy-15607797?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132997728","content_text":"See, it was rigged all along. If that's your attitude after watching stocks of ViacomCBS (VIAC) , Discovery (DISCA) , Tencent (TME) and Baidu (BIDU) get crushed, some before the market even opens, it is totally understandable. It's pretty difficult to imagine that there could be one firm, some outfit called Archegos, that you most likely never heard of, that could bring down all of these stocks and more with a margin call. That's right, one hedge fund was allowed to borrow so much money from so many different firms that, apparently, when one of its position broke badly, the stock of ViacomCBS, many of its big positions came tumbling down.\nThat sure does seem rigged as does the fallout to the firms that allowed Archegos to borrow money. After all what bank would let one hedge fund borrow so much money that it couldn't pay back its margin loans, let alone a whole bunch of big banks that sold the collateral quickly to limit the hurt to their own bottom lines.\nIn reality it's not rigged although the banks and the hedge fund obviously had a problem with risk controls. It's likely, also, that each independent bank didn't know the extent of the losses Archegos may have had so they had to act quickly to try to salvage whatever they could before the losses deepened even more. Witness today's further debacle with ViacomCBS.\nBut let's go back to that first assumption, that it was rigged \"all along.\" What happened with Archegos is, in many ways, a microcosm of what happened to many growth stocks that were incredibly expensive at the highs. A lot of them were owned by younger investors who borrowed money to play the hot stocks, stocks like Unity U and DoorDash (DASH) and Twilio (TWLO) or Zoom (ZM) , stocks of great companies that got crushed by the rotation of larger Wall Street funds, that took their profits and went elsewhere. Many people had come to believe that the younger investors were having such a big impact on the market that they could move stocks. It looks like they did, but perhaps with borrowed money, like Archegos, or even with risky options, call positions that were wiped out by the sudden decline in prices.\nOf course, I would be remiss if I didn't mention that the stock of GameStop (GME) is pretty much the mirror image of Archegos. How did the stock of the so-so video game accoutrement retailer get to $400? When a hedge fund that had been betting that GameStop would fall couldn't put up enough collateral so the brokerage firms brought the hedge fund in, basically closing out its position for the hedge fund, and perhaps others, who had been betting against the stock.\nOnce they were out of the picture GameStop suffered its swift fall from unsustainable heights. There are still plenty of people who think that GameStop's stock belongs in the $400s, just like there are people who believe the great growth stocks that traded at unsustainable heights should return someday to those levels.\nBut that might not happen for years and years or at all.\nHere's why this all matters. If you think the game is rigged you are most likely going to put your statements in a drawer and just say \"the heck with it, I will look at it when these stocks come back.\"\nThat's a loser's point of view, though. It's the one that many younger investors adopted in 2000 and 2001. Fortunately, a lot of these companies are much better than those back then, although the plethora of SPACs are beginning to challenge that assumption.\nI don't want you to do that. I want you to stay focused, look for opportunity, understand that the business isn't rigged, it just, at many times lacks effective self-policing or policing by the government.\nBut I think this Archegos event will hasten what I most feared inthe five stages of grief, the last one, acceptance. Lots of young people are accepting their lot and leaving. That's never good. You must always pay attention to your positions. Positions forgotten are positions that rarely come back.\nI can't change your mind about the rigging as an explanation for the paper losses you may have experience. If I couldn't do it back then -- and I failed -- I will fail now. I just urge you to keep a level head and understand the Great Reopening busted so many pure growth stocks, and recognize it wasn't some vast conspiracy against you. It was just a reminder of how hard it really is to make money and how vital it is to listen when I say take something off the table. I wasn't trying to hurt you. I was just trying to warn you. And I sense that I failed in doing so. Is it too late? No, these stocks will have their spikes up. But then you have to sell something, even if it is at a loss. Then you can start afresh rather than abandon the stock market, the greatest wealth creator of all time.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3920071,"gmtCreate":1617093722194,"gmtModify":1635746584724,"authorId":3575203835628386,"author":{"id":3575203835628386,"idStr":"3575203835628386","authorId":3575203835628386,"name":"Azac","avatar":"https://static.tigerbbs.com/eb0497e1bcb22483542ebadc20d76df2","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":355491730,"type":1,"supId":0,"prevId":0,"content":"Indeed","text":"Indeed","html":"Indeed"},{"id":3920084,"gmtCreate":1617093831782,"gmtModify":1635746584070,"authorId":3572306676411693,"author":{"id":3572306676411693,"idStr":"3572306676411693","authorId":3572306676411693,"name":"Horentine","avatar":"https://static.tigerbbs.com/1fa0555375b9493883f89ad8e67f2205","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":355491730,"type":1,"supId":0,"prevId":0,"content":"lmao the GME saga already proved that the market is rigged and the SEC is sleeping on the wheel","text":"lmao the GME saga already proved that the market is rigged and the SEC is sleeping on the wheel","html":"lmao the GME saga already proved that the market is rigged and the SEC is sleeping on the wheel"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":11,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}