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2021-08-14

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If you’re nervous about the stock market at record highs, consider these five companies that are loved by the smart money<blockquote>如果您对股市创历史新高感到紧张，请考虑这五家受到聪明资金喜爱的公司</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":897843098,"tweetId":"897843098","gmtCreate":1628907817314,"gmtModify":1631891875600,"author":{"id":3576051773113837,"idStr":"3576051773113837","authorId":3576051773113837,"authorIdStr":"3576051773113837","name":"EV97","avatar":"https://static.tigerbbs.com/d7c5abc0090a7661479c5bde2eeab0c5","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":12,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Like and comment pls&nbsp;</body></html>","htmlText":"<html><head></head><body>Like and comment pls&nbsp;</body></html>","text":"Like and comment pls","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/897843098","repostId":1173847412,"repostType":4,"repost":{"id":"1173847412","kind":"news","pubTimestamp":1628905097,"share":"https://www.laohu8.com/m/news/1173847412?lang=zh_CN&edition=full","pubTime":"2021-08-14 09:38","market":"us","language":"en","title":"If you’re nervous about the stock market at record highs, consider these five companies that are loved by the smart money<blockquote>如果您对股市创历史新高感到紧张，请考虑这五家受到聪明资金喜爱的公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173847412","media":"MarketWatch","summary":"Company insiders and professional investors are buying shares of Alibaba, Chegg and Activision Blizzard, among others. The stock market is near all-time highs, but train-wreck season lies just around the corner.I say hold on, and indeed consider any of the five companies below because they are “smart money” favorites. But first, big picture, here are three reasons to stay the course.The smart money signal: Director Peter Nolan just bought $2 million worth at $80-$82.28 a share. He’s a good insid","content":"Company insiders and professional investors are buying shares of Alibaba, Chegg and Activision Blizzard, among others<blockquote>公司内部人士和专业投资者正在购买阿里巴巴-SW、Chegg和动视暴雪等公司的股票</blockquote> <img src=\"https://static.tigerbbs.com/a750143fbfb2e7d732bb3dcc80114d61\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\">(Photo by Chung Sung-Jun/Getty Images)<blockquote>（郑成俊摄/盖蒂图片社）</blockquote> The stock market is near all-time highs, but train-wreck season lies just around the corner.<blockquote>股市接近历史高点，但火车失事季节即将来临。</blockquote> Should you sell? After all, the S&amp;P 500,Nasdaq&nbsp;and Dow Jones Industrial Average&nbsp;often hit a rough patch in September and October.<blockquote>你应该卖吗？毕竟，标普500、纳斯达克和道琼斯工业平均指数经常在九月和十月遇到困难。</blockquote> I say hold on, and indeed consider any of the five companies below because they are “smart money” favorites. But first, big picture, here are three reasons to stay the course.<blockquote>我说等等，确实考虑一下下面五家公司中的任何一家，因为它们是“聪明资金”的最爱。但首先，总的来说，这里有三个坚持到底的理由。</blockquote> 1. There’s no guarantee that the seasonal weakness will repeat. Besides, the ability to time market turns is tough.<blockquote>1.不能保证季节性疲软会重演。此外，把握市场变化时机的能力也很困难。</blockquote> 2. Fears about the delta variant of Covid are overblown. More people are getting vaccinated, and most of them won’t suffer severe symptoms if infected, say market strategists at T. Rowe Price.<blockquote>2.对Covid德尔塔变异毒株的担忧被夸大了。T.Rowe Price的市场策略师表示，越来越多的人正在接种疫苗，如果被感染，他们中的大多数人不会出现严重症状。</blockquote> 3. There’s a lot of embedded demand in the economy and it will sustain growth, says Leuthold Group strategist Jim Paulsen.<blockquote>3.Leuthold Group策略师Jim Paulsen表示，经济中存在大量内在需求，并将维持增长。</blockquote> On the consumer front (most of the economy): Personal savings at a record high, durable goods purchases are near a 50-year low, and new household formation is at a record high. People buy stuff to fill new homes. Next, the economy has plenty of room to grow given the elevated jobless rate and big excess lending capacity at banks.<blockquote>在消费方面（经济的大部分）：个人储蓄创历史新高，耐用品购买量接近50年低点，新家庭组建创历史新高。人们买东西来填满新家。其次，鉴于失业率上升和银行放贷能力大幅过剩，经济还有很大的增长空间。</blockquote> Five smart money stocks<blockquote>五只聪明的钱股</blockquote> At my stock letter Brush Up on Stocks, I favor stocks that corporate insiders like. But not just&nbsp;any&nbsp;insiders. I go for stocks picked up by insiders with&nbsp;great&nbsp;records. Here are two, trading near where insiders just bought.<blockquote>在我的股票信重温股票中，我喜欢公司内部人士喜欢的股票。但不仅仅是任何圈内人。我选择内部人士买入的股票伟大的记录。这里有两个，在内部人士刚刚买入的地方附近交易。</blockquote> Activision Blizzard<blockquote>动视暴雪</blockquote> This is the company behind the most popular and addictive online games — like Call of Duty, World of Warcraft, Diablo, Overwatch and Candy Crush.Activision Blizzard&nbsp;makes money via game sales and subscriptions, by selling in-game content and ads. It has around 408 million regular users.<blockquote>这是最受欢迎和最令人上瘾的在线游戏背后的公司，如《使命看涨期权》、《魔兽世界》、《暗黑破坏神》、《守望先锋》和《糖果粉碎传奇》。动视暴雪通过游戏销售和订阅、销售游戏内内容和广告赚钱。它拥有大约4.08亿普通用户。</blockquote> Besides winning over new fans, the company regularly launches new games and expands existing franchises — most recently with World of Warcraft: The Burning Crusade, in June. This addition marks “the start of what is intended to be a very significant 18-month period for content releases,” says the company. Sales grew 19% to $2.30 billion in the second quarter, and operating margins are rich at 42%.<blockquote>除了赢得新粉丝之外，该公司还定期推出新游戏并扩大现有特许经营权——最近一次是在六月推出的《魔兽世界：燃烧的远征》。该公司表示，这一增加标志着“内容发布的18个月非常重要的时期的开始”。第二季度销售额增长19%，达到23亿美元，营业利润率高达42%。</blockquote> One risk is that fallout from allegations of sexual misconduct and&nbsp;a related lawsuit by the California Department of Fair Employment and Housing will “make it difficult for the firm to attract and retain top talent in a very competitive industry,” says&nbsp;Morningstar analyst Neil Macker.<blockquote>晨星公司分析师尼尔·麦克尔表示，一个风险是性行为不端指控以及加州公平就业和住房部相关诉讼的影响将“使公司难以在竞争激烈的行业中吸引和留住顶尖人才”。</blockquote> The smart money signal: Director Peter Nolan just bought $2 million worth at $80-$82.28 a share. He’s a good insider to follow because he bought $4.3 million in March 2019 at $43 and the stock is now almost a double. Also, in my system of insider analysis, repeat buying on strength (as opposed to profit taking) is bullish. He also bought at $3.70 back in 2004.<blockquote>聪明的钱信号：董事彼得·诺兰刚刚以每股80-82.28美元的价格购买了价值200万美元的股票。他是一位值得关注的内部人士，因为他在2019年3月以43美元的价格买入了430万美元，而该股现在几乎翻了一番。此外，在我的内部分析系统中，重复强势买入（而不是获利了结）是看涨的。他还在2004年以3.70美元的价格买入。</blockquote> B. Riley Financial<blockquote>B.莱利金融</blockquote> I introduced this name in my stock letter in March 2018 at $20 and reiterated it over a dozen times into strength after that. It now trades for over $65. Despite the hefty gains, I think&nbsp;B. Riley Financia&nbsp;is still a hold, and a buy for anyone who does not own.<blockquote>我在2018年3月的股票信中以20美元的价格介绍了这个名字，并在那之后重申了十几次。它现在的交易价格超过65美元。尽管取得了巨大的收益，我认为B.莱利金融仍然是持有，对于任何不持有的人来说都是买入。</blockquote> This is a Los Angeles-based investment bank that also manages money and does stock research. It specializes in small- and mid-cap stocks. B. Riley Financial is a good proxy for the overall market and the U.S. economy, given its banking and market-related businesses. This will be a plus, as economic growth holds up. It also continues to expand via acquisitions.&nbsp;Revenue grew 26% in the second quarter to $336.8 million, in part because of an acquisition. It pays a 2.9% dividend yield.<blockquote>这是一家总部位于洛杉矶的投资银行，也管理资金和进行股票研究。它专注于中小型股票。B.鉴于其银行和市场相关业务，Riley Financial是整体市场和美国经济的良好代表。随着经济增长的持续，这将是一个利好。它还继续通过收购扩张。第二季度收入增长26%，达到3.368亿美元，部分原因是收购。它支付2.9%的股息收益率。</blockquote> The smart money signal: CEO Bryant Riley purchased $3.4 million worth of stock at $63 to $68 in early June and August. He has a long record of buying over $22 million worth of stock in the $8 to $48 range since 2014, including $6.6 million in purchases near the start of this year at $46 to $48.71 (already up over 40%).<blockquote>聪明的钱信号：首席执行官布莱恩特·莱利(Bryant Riley)在6月初和8月以63美元至68美元的价格购买了价值340万美元的股票。自2014年以来，他一直在8美元至48美元范围内购买价值超过2200万美元的股票，其中包括今年年初以46美元至48.71美元的价格购买660万美元（已经上涨了40%以上）。</blockquote> Alibaba Group<blockquote>阿里巴巴-SW集团</blockquote> If you like to buy quality companies whose stocks are beaten down by a host of problems, then Chinese consumer platform&nbsp;Alibaba Group&nbsp;may be for you.<blockquote>如果您喜欢购买股票因一系列问题而遭受重创的优质公司，那么中国消费者平台阿里巴巴-SW集团可能是给你的。</blockquote> Its shares are down 40% since October because of rising U.S.-China tensions, some weakness in its core consumer business, the possible loss of tax breaks in China, and allegations of sexual assault inside the company.<blockquote>由于中美紧张局势加剧、其核心消费者业务出现一些疲软、中国可能失去税收减免以及公司内部存在性侵犯指控，该公司股价自10月份以来已下跌40%。</blockquote> These are serious issues, but this is also a company with serious potential. Over one billion consumers use its marketplaces, including 891 million in China and 240 million abroad. Organic sales growth is 32%. It’s in the early stages of rolling out its AliCloud cloud computing business, which could be the next big growth driver.<blockquote>这些都是严重的问题，但这也是一家具有巨大潜力的公司。超过10亿消费者使用其市场，其中8.91亿在中国，2.4亿在国外。有机销售额增长32%。该公司正处于推出阿里云云计算业务的早期阶段，这可能是下一个巨大的增长动力。</blockquote> The smart money signal: This company is singled out by Albert Meyer of Bastiat Capital, which has posted 22% annualized growth over the past five years compared to 17.7% for the S&amp;P 500.<blockquote>聪明的钱信号：Bastiat Capital的Albert Meyer特别提到了这家公司，该公司过去五年的年化增长率为22%，而标普500的年化增长率为17.7%。</blockquote> An attractive spinoff<blockquote>有吸引力的衍生产品</blockquote> One tactic that works fairly consistently in investing is buying spinoffs. Companies don’t like to burn shareholders, so they tend to do spinoffs at a discount, as a kind of “gift.” Money managers who get spun-off shares often dump them anyway, because the new company does not fit their mandate.<blockquote>投资中相当有效的一种策略是购买分拆产品。公司不喜欢烧死股东，所以他们倾向于打折分拆，作为一种“礼物”。获得分拆股票的基金经理通常会抛售这些股票，因为新公司不符合他们的使命。</blockquote> A good spinoff to consider right now is&nbsp;Organon,a mid-size pharma company. It was jettisoned from Merck&nbsp;in May. Organon just bounced 12% on Aug. 12 after it posted a solid quarter, but it still trades below the spinoff price of around $38. At this level, the stock looks attractively cheap, trading near five times 2021 earnings.<blockquote>现在值得考虑的一个好的衍生产品是欧加农，一家中型制药公司。它于5月份被默克公司抛弃。Organon在公布了稳健的季度业绩后，于8月12日刚刚反弹12%，但其交易价格仍低于38美元左右的分拆价格。在这个水平上，该股看起来非常便宜，其交易价格接近2021年市盈率的五倍。</blockquote> Of course, Organon is cheap because it has issues. The chief one is the looming patent cliff on many of its products. Its Nexplanon birth control rolls off patent during 2025-2027, and that’s 11% of sales.<blockquote>当然，Organon便宜是因为它有问题。最主要的一个是其许多产品迫在眉睫的专利悬崖。其Nexplanon避孕药将在2025年至2027年期间获得专利，占销售额的11%。</blockquote> But this might not be such a threat. “There is a strong possibility that it can extend its patent to as late as 2030,” says Bruce Kaser, a value investor who is the editor of the Cabot Turnaround Letter. Nexplanon is a rod implanted under the skin, so women may be reluctant to go with a discount version. Another problem: Organon sells into China, where the government is cutting the prices of its products. But the worst of the damage may be over.<blockquote>但这可能不是这样的威胁。“它很有可能将专利延长至2030年，”价值投资者、卡博特扭亏为盈信的编辑布鲁斯·卡瑟(Bruce Kaser)表示。Nexplanon是一种植入皮下的棒，因此女性可能不愿意选择折扣版本。另一个问题是：Organon向中国销售产品，中国政府正在降低其产品的价格。但最严重的损害可能已经过去。</blockquote> On the upside, Organon plans to regularly launch new products. And the company has $1.3 billion in annual free cash flow supporting a dividend yield of 3.3%.<blockquote>从好的方面来看，Organon计划定期推出新产品。该公司拥有13亿美元的年度自由现金流，支持3.3%的股息收益率。</blockquote> The smart money signal: Organon was recently suggested in the Cabot Turnaround Letter, which has a good record. Its portfolio is up 135.8% in the past 12 months, compared with 36.5% for S&amp;P 500.<blockquote>聪明的钱信号：Organon最近在Cabot周转信中被推荐，该公司有良好的记录。其投资组合在过去12个月内上涨了135.8%，而标普500的投资组合上涨了36.5%。</blockquote> An education play<blockquote>教育剧</blockquote> If universities have allowed their participation in the culture wars to distract them from the core mission of basic education,Chegg&nbsp;is there to pick up the slack.<blockquote>如果大学让他们参与文化战争分散了他们对基础教育核心使命的注意力，Chegg是来收拾残局的。</blockquote> This online education company helps college and high school students master their math and writing skills. The company also helps students save on expensive text books by offering rentals and e-textbook versions.<blockquote>这家在线教育公司帮助大学和高中生掌握他们的数学和写作技能。该公司还通过提供租赁和电子教科书版本来帮助学生节省昂贵的教科书费用。</blockquote> While online education has a black eye, Chegg is the exception. Last year student subscriptions jumped 67% to 6.6 million from a year earlier. Sales grew 30% in the quarter, and the company guided to 28% sales growth for this year, to $805 million to $815 million.<blockquote>虽然在线教育有问题，但Chegg是个例外。去年，学生订阅量同比增长67%，达到660万。该季度销售额增长30%，该公司预计今年销售额增长28%，达到8.05亿至8.15亿美元。</blockquote> “Online learning had a bad reputation for overcharging, while success rates were minimal,” says money manager Kevin Landis. “But Chegg is different.”<blockquote>“在线学习因收费过高而名声不佳，而成功率却很低，”基金经理凯文·兰迪斯(Kevin Landis)表示。“但齐格不一样。”</blockquote> He likes the robust growth in the U.S. and the big potential for international growth, particularly in Asia.<blockquote>他喜欢美国的强劲增长和国际增长的巨大潜力，尤其是在亚洲。</blockquote> The smart money signal: Landis’ Firsthand Technology Opportunities&nbsp;beats its Morningstar technology fund category by eight percentage points annualized over the past five years. Chegg is the second-largest position, at 8% of the portfolio. Chegg is the sixth-biggest holding of the Alger Weatherbie Specialized Growth Fund,which beats its mid-cap growth category by 5.7 percentage points annualized over the past five years.<blockquote>聪明的钱信号：过去五年，兰迪斯的Firsthand Technology Opportunities的年化回报率比晨星科技基金类别高出8个百分点。Chegg是第二大头寸，占投资组合的8%。Chegg是Alger Weatherbie Specialized Growth基金的第六大持股，该基金在过去五年中的年化增长率比中型成长基金高出5.7个百分点。</blockquote>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>If you’re nervous about the stock market at record highs, consider these five companies that are loved by the smart money<blockquote>如果您对股市创历史新高感到紧张，请考虑这五家受到聪明资金喜爱的公司</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\">\nIf you’re nervous about the stock market at record highs, consider these five companies that are loved by the smart money<blockquote>如果您对股市创历史新高感到紧张，请考虑这五家受到聪明资金喜爱的公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-08-14 09:38\n\n</h4>\n</header>\n<article>\nCompany insiders and professional investors are buying shares of Alibaba, Chegg and Activision Blizzard, among others<blockquote>公司内部人士和专业投资者正在购买阿里巴巴-SW、Chegg和动视暴雪等公司的股票</blockquote> <img src=\"https://static.tigerbbs.com/a750143fbfb2e7d732bb3dcc80114d61\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\">(Photo by Chung Sung-Jun/Getty Images)<blockquote>（郑成俊摄/盖蒂图片社）</blockquote> The stock market is near all-time highs, but train-wreck season lies just around the corner.<blockquote>股市接近历史高点，但火车失事季节即将来临。</blockquote> Should you sell? After all, the S&amp;P 500,Nasdaq&nbsp;and Dow Jones Industrial Average&nbsp;often hit a rough patch in September and October.<blockquote>你应该卖吗？毕竟，标普500、纳斯达克和道琼斯工业平均指数经常在九月和十月遇到困难。</blockquote> I say hold on, and indeed consider any of the five companies below because they are “smart money” favorites. But first, big picture, here are three reasons to stay the course.<blockquote>我说等等，确实考虑一下下面五家公司中的任何一家，因为它们是“聪明资金”的最爱。但首先，总的来说，这里有三个坚持到底的理由。</blockquote> 1. There’s no guarantee that the seasonal weakness will repeat. Besides, the ability to time market turns is tough.<blockquote>1.不能保证季节性疲软会重演。此外，把握市场变化时机的能力也很困难。</blockquote> 2. Fears about the delta variant of Covid are overblown. More people are getting vaccinated, and most of them won’t suffer severe symptoms if infected, say market strategists at T. Rowe Price.<blockquote>2.对Covid德尔塔变异毒株的担忧被夸大了。T.Rowe Price的市场策略师表示，越来越多的人正在接种疫苗，如果被感染，他们中的大多数人不会出现严重症状。</blockquote> 3. There’s a lot of embedded demand in the economy and it will sustain growth, says Leuthold Group strategist Jim Paulsen.<blockquote>3.Leuthold Group策略师Jim Paulsen表示，经济中存在大量内在需求，并将维持增长。</blockquote> On the consumer front (most of the economy): Personal savings at a record high, durable goods purchases are near a 50-year low, and new household formation is at a record high. People buy stuff to fill new homes. Next, the economy has plenty of room to grow given the elevated jobless rate and big excess lending capacity at banks.<blockquote>在消费方面（经济的大部分）：个人储蓄创历史新高，耐用品购买量接近50年低点，新家庭组建创历史新高。人们买东西来填满新家。其次，鉴于失业率上升和银行放贷能力大幅过剩，经济还有很大的增长空间。</blockquote> Five smart money stocks<blockquote>五只聪明的钱股</blockquote> At my stock letter Brush Up on Stocks, I favor stocks that corporate insiders like. But not just&nbsp;any&nbsp;insiders. I go for stocks picked up by insiders with&nbsp;great&nbsp;records. Here are two, trading near where insiders just bought.<blockquote>在我的股票信重温股票中，我喜欢公司内部人士喜欢的股票。但不仅仅是任何圈内人。我选择内部人士买入的股票伟大的记录。这里有两个，在内部人士刚刚买入的地方附近交易。</blockquote> Activision Blizzard<blockquote>动视暴雪</blockquote> This is the company behind the most popular and addictive online games — like Call of Duty, World of Warcraft, Diablo, Overwatch and Candy Crush.Activision Blizzard&nbsp;makes money via game sales and subscriptions, by selling in-game content and ads. It has around 408 million regular users.<blockquote>这是最受欢迎和最令人上瘾的在线游戏背后的公司，如《使命看涨期权》、《魔兽世界》、《暗黑破坏神》、《守望先锋》和《糖果粉碎传奇》。动视暴雪通过游戏销售和订阅、销售游戏内内容和广告赚钱。它拥有大约4.08亿普通用户。</blockquote> Besides winning over new fans, the company regularly launches new games and expands existing franchises — most recently with World of Warcraft: The Burning Crusade, in June. This addition marks “the start of what is intended to be a very significant 18-month period for content releases,” says the company. Sales grew 19% to $2.30 billion in the second quarter, and operating margins are rich at 42%.<blockquote>除了赢得新粉丝之外，该公司还定期推出新游戏并扩大现有特许经营权——最近一次是在六月推出的《魔兽世界：燃烧的远征》。该公司表示，这一增加标志着“内容发布的18个月非常重要的时期的开始”。第二季度销售额增长19%，达到23亿美元，营业利润率高达42%。</blockquote> One risk is that fallout from allegations of sexual misconduct and&nbsp;a related lawsuit by the California Department of Fair Employment and Housing will “make it difficult for the firm to attract and retain top talent in a very competitive industry,” says&nbsp;Morningstar analyst Neil Macker.<blockquote>晨星公司分析师尼尔·麦克尔表示，一个风险是性行为不端指控以及加州公平就业和住房部相关诉讼的影响将“使公司难以在竞争激烈的行业中吸引和留住顶尖人才”。</blockquote> The smart money signal: Director Peter Nolan just bought $2 million worth at $80-$82.28 a share. He’s a good insider to follow because he bought $4.3 million in March 2019 at $43 and the stock is now almost a double. Also, in my system of insider analysis, repeat buying on strength (as opposed to profit taking) is bullish. He also bought at $3.70 back in 2004.<blockquote>聪明的钱信号：董事彼得·诺兰刚刚以每股80-82.28美元的价格购买了价值200万美元的股票。他是一位值得关注的内部人士，因为他在2019年3月以43美元的价格买入了430万美元，而该股现在几乎翻了一番。此外，在我的内部分析系统中，重复强势买入（而不是获利了结）是看涨的。他还在2004年以3.70美元的价格买入。</blockquote> B. Riley Financial<blockquote>B.莱利金融</blockquote> I introduced this name in my stock letter in March 2018 at $20 and reiterated it over a dozen times into strength after that. It now trades for over $65. Despite the hefty gains, I think&nbsp;B. Riley Financia&nbsp;is still a hold, and a buy for anyone who does not own.<blockquote>我在2018年3月的股票信中以20美元的价格介绍了这个名字，并在那之后重申了十几次。它现在的交易价格超过65美元。尽管取得了巨大的收益，我认为B.莱利金融仍然是持有，对于任何不持有的人来说都是买入。</blockquote> This is a Los Angeles-based investment bank that also manages money and does stock research. It specializes in small- and mid-cap stocks. B. Riley Financial is a good proxy for the overall market and the U.S. economy, given its banking and market-related businesses. This will be a plus, as economic growth holds up. It also continues to expand via acquisitions.&nbsp;Revenue grew 26% in the second quarter to $336.8 million, in part because of an acquisition. It pays a 2.9% dividend yield.<blockquote>这是一家总部位于洛杉矶的投资银行，也管理资金和进行股票研究。它专注于中小型股票。B.鉴于其银行和市场相关业务，Riley Financial是整体市场和美国经济的良好代表。随着经济增长的持续，这将是一个利好。它还继续通过收购扩张。第二季度收入增长26%，达到3.368亿美元，部分原因是收购。它支付2.9%的股息收益率。</blockquote> The smart money signal: CEO Bryant Riley purchased $3.4 million worth of stock at $63 to $68 in early June and August. He has a long record of buying over $22 million worth of stock in the $8 to $48 range since 2014, including $6.6 million in purchases near the start of this year at $46 to $48.71 (already up over 40%).<blockquote>聪明的钱信号：首席执行官布莱恩特·莱利(Bryant Riley)在6月初和8月以63美元至68美元的价格购买了价值340万美元的股票。自2014年以来，他一直在8美元至48美元范围内购买价值超过2200万美元的股票，其中包括今年年初以46美元至48.71美元的价格购买660万美元（已经上涨了40%以上）。</blockquote> Alibaba Group<blockquote>阿里巴巴-SW集团</blockquote> If you like to buy quality companies whose stocks are beaten down by a host of problems, then Chinese consumer platform&nbsp;Alibaba Group&nbsp;may be for you.<blockquote>如果您喜欢购买股票因一系列问题而遭受重创的优质公司，那么中国消费者平台阿里巴巴-SW集团可能是给你的。</blockquote> Its shares are down 40% since October because of rising U.S.-China tensions, some weakness in its core consumer business, the possible loss of tax breaks in China, and allegations of sexual assault inside the company.<blockquote>由于中美紧张局势加剧、其核心消费者业务出现一些疲软、中国可能失去税收减免以及公司内部存在性侵犯指控，该公司股价自10月份以来已下跌40%。</blockquote> These are serious issues, but this is also a company with serious potential. Over one billion consumers use its marketplaces, including 891 million in China and 240 million abroad. Organic sales growth is 32%. It’s in the early stages of rolling out its AliCloud cloud computing business, which could be the next big growth driver.<blockquote>这些都是严重的问题，但这也是一家具有巨大潜力的公司。超过10亿消费者使用其市场，其中8.91亿在中国，2.4亿在国外。有机销售额增长32%。该公司正处于推出阿里云云计算业务的早期阶段，这可能是下一个巨大的增长动力。</blockquote> The smart money signal: This company is singled out by Albert Meyer of Bastiat Capital, which has posted 22% annualized growth over the past five years compared to 17.7% for the S&amp;P 500.<blockquote>聪明的钱信号：Bastiat Capital的Albert Meyer特别提到了这家公司，该公司过去五年的年化增长率为22%，而标普500的年化增长率为17.7%。</blockquote> An attractive spinoff<blockquote>有吸引力的衍生产品</blockquote> One tactic that works fairly consistently in investing is buying spinoffs. Companies don’t like to burn shareholders, so they tend to do spinoffs at a discount, as a kind of “gift.” Money managers who get spun-off shares often dump them anyway, because the new company does not fit their mandate.<blockquote>投资中相当有效的一种策略是购买分拆产品。公司不喜欢烧死股东，所以他们倾向于打折分拆，作为一种“礼物”。获得分拆股票的基金经理通常会抛售这些股票，因为新公司不符合他们的使命。</blockquote> A good spinoff to consider right now is&nbsp;Organon,a mid-size pharma company. It was jettisoned from Merck&nbsp;in May. Organon just bounced 12% on Aug. 12 after it posted a solid quarter, but it still trades below the spinoff price of around $38. At this level, the stock looks attractively cheap, trading near five times 2021 earnings.<blockquote>现在值得考虑的一个好的衍生产品是欧加农，一家中型制药公司。它于5月份被默克公司抛弃。Organon在公布了稳健的季度业绩后，于8月12日刚刚反弹12%，但其交易价格仍低于38美元左右的分拆价格。在这个水平上，该股看起来非常便宜，其交易价格接近2021年市盈率的五倍。</blockquote> Of course, Organon is cheap because it has issues. The chief one is the looming patent cliff on many of its products. Its Nexplanon birth control rolls off patent during 2025-2027, and that’s 11% of sales.<blockquote>当然，Organon便宜是因为它有问题。最主要的一个是其许多产品迫在眉睫的专利悬崖。其Nexplanon避孕药将在2025年至2027年期间获得专利，占销售额的11%。</blockquote> But this might not be such a threat. “There is a strong possibility that it can extend its patent to as late as 2030,” says Bruce Kaser, a value investor who is the editor of the Cabot Turnaround Letter. Nexplanon is a rod implanted under the skin, so women may be reluctant to go with a discount version. Another problem: Organon sells into China, where the government is cutting the prices of its products. But the worst of the damage may be over.<blockquote>但这可能不是这样的威胁。“它很有可能将专利延长至2030年，”价值投资者、卡博特扭亏为盈信的编辑布鲁斯·卡瑟(Bruce Kaser)表示。Nexplanon是一种植入皮下的棒，因此女性可能不愿意选择折扣版本。另一个问题是：Organon向中国销售产品，中国政府正在降低其产品的价格。但最严重的损害可能已经过去。</blockquote> On the upside, Organon plans to regularly launch new products. And the company has $1.3 billion in annual free cash flow supporting a dividend yield of 3.3%.<blockquote>从好的方面来看，Organon计划定期推出新产品。该公司拥有13亿美元的年度自由现金流，支持3.3%的股息收益率。</blockquote> The smart money signal: Organon was recently suggested in the Cabot Turnaround Letter, which has a good record. Its portfolio is up 135.8% in the past 12 months, compared with 36.5% for S&amp;P 500.<blockquote>聪明的钱信号：Organon最近在Cabot周转信中被推荐，该公司有良好的记录。其投资组合在过去12个月内上涨了135.8%，而标普500的投资组合上涨了36.5%。</blockquote> An education play<blockquote>教育剧</blockquote> If universities have allowed their participation in the culture wars to distract them from the core mission of basic education,Chegg&nbsp;is there to pick up the slack.<blockquote>如果大学让他们参与文化战争分散了他们对基础教育核心使命的注意力，Chegg是来收拾残局的。</blockquote> This online education company helps college and high school students master their math and writing skills. The company also helps students save on expensive text books by offering rentals and e-textbook versions.<blockquote>这家在线教育公司帮助大学和高中生掌握他们的数学和写作技能。该公司还通过提供租赁和电子教科书版本来帮助学生节省昂贵的教科书费用。</blockquote> While online education has a black eye, Chegg is the exception. Last year student subscriptions jumped 67% to 6.6 million from a year earlier. Sales grew 30% in the quarter, and the company guided to 28% sales growth for this year, to $805 million to $815 million.<blockquote>虽然在线教育有问题，但Chegg是个例外。去年，学生订阅量同比增长67%，达到660万。该季度销售额增长30%，该公司预计今年销售额增长28%，达到8.05亿至8.15亿美元。</blockquote> “Online learning had a bad reputation for overcharging, while success rates were minimal,” says money manager Kevin Landis. “But Chegg is different.”<blockquote>“在线学习因收费过高而名声不佳，而成功率却很低，”基金经理凯文·兰迪斯(Kevin Landis)表示。“但齐格不一样。”</blockquote> He likes the robust growth in the U.S. and the big potential for international growth, particularly in Asia.<blockquote>他喜欢美国的强劲增长和国际增长的巨大潜力，尤其是在亚洲。</blockquote> The smart money signal: Landis’ Firsthand Technology Opportunities&nbsp;beats its Morningstar technology fund category by eight percentage points annualized over the past five years. Chegg is the second-largest position, at 8% of the portfolio. Chegg is the sixth-biggest holding of the Alger Weatherbie Specialized Growth Fund,which beats its mid-cap growth category by 5.7 percentage points annualized over the past five years.<blockquote>聪明的钱信号：过去五年，兰迪斯的Firsthand Technology Opportunities的年化回报率比晨星科技基金类别高出8个百分点。Chegg是第二大头寸，占投资组合的8%。Chegg是Alger Weatherbie Specialized Growth基金的第六大持股，该基金在过去五年中的年化增长率比中型成长基金高出5.7个百分点。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/if-youre-nervous-about-the-stock-market-at-record-highs-consider-these-five-companies-that-are-loved-by-the-smart-money-11628865442?mod=home-page\">MarketWatch</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":"","relate_stocks":{"RILY":"B. Riley Financial, Inc.","ATVI":"动视暴雪","CHGG":"Chegg Inc","BABA":"阿里巴巴","OGN":"Organon & Co"},"source_url":"https://www.marketwatch.com/story/if-youre-nervous-about-the-stock-market-at-record-highs-consider-these-five-companies-that-are-loved-by-the-smart-money-11628865442?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173847412","content_text":"Company insiders and professional investors are buying shares of Alibaba, Chegg and Activision Blizzard, among others\n(Photo by Chung Sung-Jun/Getty Images)\nThe stock market is near all-time highs, but train-wreck season lies just around the corner.\nShould you sell? After all, the S&P 500,Nasdaq and Dow Jones Industrial Average often hit a rough patch in September and October.\nI say hold on, and indeed consider any of the five companies below because they are “smart money” favorites. But first, big picture, here are three reasons to stay the course.\n1. There’s no guarantee that the seasonal weakness will repeat. Besides, the ability to time market turns is tough.\n2. Fears about the delta variant of Covid are overblown. More people are getting vaccinated, and most of them won’t suffer severe symptoms if infected, say market strategists at T. Rowe Price.\n3. There’s a lot of embedded demand in the economy and it will sustain growth, says Leuthold Group strategist Jim Paulsen.\nOn the consumer front (most of the economy): Personal savings at a record high, durable goods purchases are near a 50-year low, and new household formation is at a record high. People buy stuff to fill new homes. Next, the economy has plenty of room to grow given the elevated jobless rate and big excess lending capacity at banks.\nFive smart money stocks\nAt my stock letter Brush Up on Stocks, I favor stocks that corporate insiders like. But not just any insiders. I go for stocks picked up by insiders with great records. Here are two, trading near where insiders just bought.\nActivision Blizzard\nThis is the company behind the most popular and addictive online games — like Call of Duty, World of Warcraft, Diablo, Overwatch and Candy Crush.Activision Blizzard makes money via game sales and subscriptions, by selling in-game content and ads. It has around 408 million regular users.\nBesides winning over new fans, the company regularly launches new games and expands existing franchises — most recently with World of Warcraft: The Burning Crusade, in June. This addition marks “the start of what is intended to be a very significant 18-month period for content releases,” says the company. Sales grew 19% to $2.30 billion in the second quarter, and operating margins are rich at 42%.\nOne risk is that fallout from allegations of sexual misconduct and a related lawsuit by the California Department of Fair Employment and Housing will “make it difficult for the firm to attract and retain top talent in a very competitive industry,” says Morningstar analyst Neil Macker.\nThe smart money signal: Director Peter Nolan just bought $2 million worth at $80-$82.28 a share. He’s a good insider to follow because he bought $4.3 million in March 2019 at $43 and the stock is now almost a double. Also, in my system of insider analysis, repeat buying on strength (as opposed to profit taking) is bullish. He also bought at $3.70 back in 2004.\nB. Riley Financial\nI introduced this name in my stock letter in March 2018 at $20 and reiterated it over a dozen times into strength after that. It now trades for over $65. Despite the hefty gains, I think B. Riley Financia is still a hold, and a buy for anyone who does not own.\nThis is a Los Angeles-based investment bank that also manages money and does stock research. It specializes in small- and mid-cap stocks. B. Riley Financial is a good proxy for the overall market and the U.S. economy, given its banking and market-related businesses. This will be a plus, as economic growth holds up. It also continues to expand via acquisitions. Revenue grew 26% in the second quarter to $336.8 million, in part because of an acquisition. It pays a 2.9% dividend yield.\nThe smart money signal: CEO Bryant Riley purchased $3.4 million worth of stock at $63 to $68 in early June and August. He has a long record of buying over $22 million worth of stock in the $8 to $48 range since 2014, including $6.6 million in purchases near the start of this year at $46 to $48.71 (already up over 40%).\nAlibaba Group\nIf you like to buy quality companies whose stocks are beaten down by a host of problems, then Chinese consumer platform Alibaba Group may be for you.\nIts shares are down 40% since October because of rising U.S.-China tensions, some weakness in its core consumer business, the possible loss of tax breaks in China, and allegations of sexual assault inside the company.\nThese are serious issues, but this is also a company with serious potential. Over one billion consumers use its marketplaces, including 891 million in China and 240 million abroad. Organic sales growth is 32%. It’s in the early stages of rolling out its AliCloud cloud computing business, which could be the next big growth driver.\nThe smart money signal: This company is singled out by Albert Meyer of Bastiat Capital, which has posted 22% annualized growth over the past five years compared to 17.7% for the S&P 500.\nAn attractive spinoff\nOne tactic that works fairly consistently in investing is buying spinoffs. Companies don’t like to burn shareholders, so they tend to do spinoffs at a discount, as a kind of “gift.” Money managers who get spun-off shares often dump them anyway, because the new company does not fit their mandate.\nA good spinoff to consider right now is Organon,a mid-size pharma company. It was jettisoned from Merck in May. Organon just bounced 12% on Aug. 12 after it posted a solid quarter, but it still trades below the spinoff price of around $38. At this level, the stock looks attractively cheap, trading near five times 2021 earnings.\nOf course, Organon is cheap because it has issues. The chief one is the looming patent cliff on many of its products. Its Nexplanon birth control rolls off patent during 2025-2027, and that’s 11% of sales.\nBut this might not be such a threat. “There is a strong possibility that it can extend its patent to as late as 2030,” says Bruce Kaser, a value investor who is the editor of the Cabot Turnaround Letter. Nexplanon is a rod implanted under the skin, so women may be reluctant to go with a discount version. Another problem: Organon sells into China, where the government is cutting the prices of its products. But the worst of the damage may be over.\nOn the upside, Organon plans to regularly launch new products. And the company has $1.3 billion in annual free cash flow supporting a dividend yield of 3.3%.\nThe smart money signal: Organon was recently suggested in the Cabot Turnaround Letter, which has a good record. Its portfolio is up 135.8% in the past 12 months, compared with 36.5% for S&P 500.\nAn education play\nIf universities have allowed their participation in the culture wars to distract them from the core mission of basic education,Chegg is there to pick up the slack.\nThis online education company helps college and high school students master their math and writing skills. The company also helps students save on expensive text books by offering rentals and e-textbook versions.\nWhile online education has a black eye, Chegg is the exception. Last year student subscriptions jumped 67% to 6.6 million from a year earlier. Sales grew 30% in the quarter, and the company guided to 28% sales growth for this year, to $805 million to $815 million.\n“Online learning had a bad reputation for overcharging, while success rates were minimal,” says money manager Kevin Landis. “But Chegg is different.”\nHe likes the robust growth in the U.S. and the big potential for international growth, particularly in Asia.\nThe smart money signal: Landis’ Firsthand Technology Opportunities beats its Morningstar technology fund category by eight percentage points annualized over the past five years. Chegg is the second-largest position, at 8% of the portfolio. Chegg is the sixth-biggest holding of the Alger Weatherbie Specialized Growth Fund,which beats its mid-cap growth category by 5.7 percentage points annualized over the past five years.","news_type":1,"symbols_score_info":{"RILY":0.9,"CHGG":0.9,"OGN":0.9,"ATVI":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":351,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":17,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/897843098"}